MAYFIELD HEIGHTS OHIO PROGRESSIVE CORP SAID IT WILL REDEEM ON DEC 17 THE ENTIRE 70 MILLION AGGREGATE PRINCIPAL AMOUNT OF ITS OUTSTANDING 8 3/4 DEBENTURES DUE 2017 THE INSURANCE HOLDING COMPANY SAID THE REDEMPTION WILL BE MADE AT 105425 OF PRINCIPAL AMOUNT PLUS ACCRUED INTEREST 9311150176 931115 BIG BOARD SEAT IS SOLD NEW YORK THE NEW YORK STOCK EXCHANGE SAID A SEAT SOLD FOR 750000 DOWN 20000 FROM THE PREVIOUS SALE OCT 5 BIG BOARD SEATS ARE CURRENTLY QUOTED AT 690000 BID AND 770000 OFFERED 9311150175 931115 WHO'S NEWS INDRESCO INC INDRESCO INC DALLAS SCOTT R LOWDEN WAS NAMED GENERAL COUNSEL AND A VICE PRESIDENT OF THIS SUPPLIER OF MINING EQUIPMENT AND OTHER PRODUCTS AS GENERAL COUNSEL MR LOWDEN 53 YEARS OLD AND FORMERLY VICE PRESIDENT LAW AT AMR CORP'S AMERICAN AIRLINES UNIT SUCCEEDS DENNIS EAGAN WHO RESIGNED 9311150174 931115 SL INDUSTRIES INC STOCK PURCHASE MT LAUREL NJ SL INDUSTRIES INC SAID ITS BOARD APPROVED THE PURCHASE OF ALL 507361 SHARES HELD BY TWO DIRECTORS AT 4 A SHARE THE STOCK'S CLOSING PRICE THURSDAY IN NEW YORK STOCK EXCHANGE COMPOSITE TRADING THE COMPANY A MAKER OF SURGE PROTECTORS AND OTHER ELECTRICAL PRODUCTS SAID IT IS BUYING THE SHARES FROM WILMER J THOMAS AND MARTIN SOLOMON THE TRANSACTION SUBJECT TO CERTAIN CONDITIONS IS SCHEDULED TO CLOSE NOV 23 WHEN THE TWO DIRECTORS ARE EXPECTED TO RESIGN FROM THE BOARD 9311150173 931115 MICHELIN'S NINEMONTH SALES SLID PARIS GROUPE MICHELIN THE FRENCH TIRE MAKER SAID SALES FOR THE FIRST NINE MONTHS FELL 82 TO 4619 BILLION FRANCS FROM 5029 BILLION FRANCS A YEAR EARLIER THE DECLINE SUGGESTS SALES WERE MORE BUOYANT IN THE THIRD QUARTER THAN THEY WERE A YEAR EARLIER SALES FELL 12 IN THE FIRST HALF 9311150172 931115 KODAK'S DIVIDEND TO US STAFF ROCHESTER NY EASTMAN KODAK CO SAID IT WOULD PAY A WAGE DIVIDEND IN MARCH 1994 TO ELIGIBLE US EMPLOYEES THE DIVIDEND'S AMOUNT DEPENDS ON FOURTHQUARTER EARNINGS WHICH WILL BE REPORTED IN FEBRUARY THE COMPANY SAID IN 1992 KODAK PAID A WAGE DIVIDEND OF 233 MILLION TO US EMPLOYEES ABOUT 833 OF THE EMPLOYEES' EARNINGS FOR THAT YEAR THE DIVIDEND IS A KODAK BONUS SYSTEM ESTABLISHED BY FOUNDER GEORGE EASTMAN IN 1912 9311150171 931115 ECONOMY CONSUMERS SEEN BUYING GOODS AT BUOYANT CLIP RETAIL SALES INCREASED 15 LAST MONTH MARKING BIGGEST RISE SINCE APRIL BY LUCINDA HARPER STAFF REPORTER OF THE WALL STREET JOURNAL WASHINGTON AFTER A SHAKY START AT THE BEGINNING OF THE RECOVERY CONSUMERS SEEM TO BE BACK ON A RATHER FAST SPENDING TRACK INCREASES IN CONSUMER SPENDING HAVE BECOME CONSISTENT AND WIDESPREAD OVER THE PAST SEVERAL MONTHS THE LATEST SIGN OF STRENGTH RETAIL SALES JUMPED 15 IN OCTOBER THE COMMERCE DEPARTMENT SAID IT WAS THE LARGEST INCREASE SINCE APRIL AND THE SEVENTH RISE IN A ROW THE RETAILSALES FIGURE IS ADJUSTED FOR SEASONAL CHANGES BUT NOT FOR INFLATION MANY RETAILERS AND ANALYSTS ARE CONFIDENT THAT STRONG SPENDING WILL MAKE THIS CHRISTMAS SELLING SEASON A GOOD ONE THE NATIONAL RETAIL FEDERATION SAID IT ANTICIPATES 3 GROWTH IN SALES DURING THE HOLIDAY SEASON ADJUSTED FOR INFLATION AND BASED ON WHAT I AM HEARING FROM SOME OF OUR MEMBERS THAT NUMBER COULD BE EVEN HIGHER SAID TRACY MULLIN FEDERATION PRESIDENT THE INCREASE IN SPENDING IS COMING DESPITE CONTINUED WEAKNESS IN CONSUMER CONFIDENCE THE UNIVERSITY OF MICHIGAN CONSUMER SENTIMENT INDEX SLIPPED TO 82 IN EARLY NOVEMBER FROM 827 IN OCTOBER ACCORDING TO MARKET PARTICIPANTS WHO HAVE SEEN THE REPORT CARS WERE THE BIGGEST FACTOR IN OCTOBER'S SALES INCREASE BUT THERE HAVE BEEN OTHER NOTEWORTHY GAINS OVER THE PAST SEVERAL MONTHS RENEWED STRENGTH IN HOUSING HAS LED TO INCREASED SALES IN EVERYTHING FROM BUILDING MATERIALS TO FURNITURE TO MICROWAVE OVENS THERE HAS ALSO BEEN A SURGE IN SPENDING FOR HOME COMPUTERS AND FOR SERVICES SUCH AS BARS MOVIES AND CONCERTS GENERALMERCHANDISE SALES ARE UP 88 FROM A YEAR EARLIER AND RESTAURANT SALES ARE UP 6 THIS IS THE CONSUMER WE ALL KNOW AND LOVE SAID MAUREEN ALLYN CHIEF ECONOMIST FOR THE SECURITIES FIRM OF SCUDDER STEVENS & CLARK INC THE QUESTION THOUGH IS HOW LONG CAN IT LAST CONSUMER SPENDING HAS BEEN OUTPACING INCOME GAINS SINCE SPRING AND ANALYSTS WORRY THAT WITHOUT A MORE ROBUST PICKUP IN EMPLOYMENT SUCH SPENDING CAN'T BE SUSTAINED THE MERRYGOROUND CAN NOT CONTINUE TO SPIN WITHOUT MORESUBSTANTIAL EMPLOYMENT GAINS SAID ROBERT DEDERICK CHIEF ECONOMIST OF NORTHERN TRUST IN CHICAGO BUT ANALYSTS DON'T FEAR A COMPLETE SPENDING REVERSAL CONSUMER OUTLAYS ROSE 42 DURING THE THIRD QUARTER AFTER ADJUSTMENT FOR INFLATION WITH MUCH OF THE STRENGTH COMING IN DURABLE GOODS MOST ANALYSTS AGREE THAT THAT PACE WON'T BE SUSTAINED IN THE FOURTH QUARTER BUT SAY THE RESULTS COULD BE CLOSE RICHARD BERNER CHIEF ECONOMIST OF MELLON BANK IN PITTSBURGH ESTIMATES THAT CONSUMER SPENDING WILL RISE BETWEEN 33 AND 35 IN THE FOURTH QUARTER IN THE FIRST QUARTER OF NEXT YEAR HE SEES A SLOWDOWN IN GROWTH TO AS LOW AS 25 THAT'S STILL NOT TOO BAD ONLY SLIGHTLY LESS THAN THE INCREASE FOR ALL OF 1992 WE HAVE HAD ENOUGH MOMENTUM IN TERMS OF JOB GAINS SO THAT WE WON'T SEE A COMPLETE RETRENCHMENT MR BERNER SAID MUCH OF THE RECENT INCREASE IN SPENDING IS THE RESULT OF PENTUP DEMAND CONSUMERS HAD BEEN PRETTY TIGHTFISTED BECAUSE OF JOBMARKET WORRIES AND A DESIRE TO GET THEIR BALANCE SHEETS IN ORDER THOSE TWO CONCERNS HAVE EASED SOMEWHAT WITH THE RECENT EMPLOYMENT GROWTH LOW INTEREST RATES AND A MORTGAGEREFINANCING BOOM THAT GAVE A LOT OF CONSUMERS A LOT OF EXTRA MONEY EACH MONTH AMERICANS HAVE ALSO BEEN INCREASING THEIR DEBT LOADS SINCE THE START OF THE YEAR TO HELP FUEL THEIR SPENDING AS BANKS SEEM MORE WILLING TO MAKE LOANS 9311150170 931115 WHO'S NEWS GENERAL DYNAMICS CORP GENERAL DYNAMICS CORP FALLS CHURCH VA JAMES J CUNNANE 55 YEARS OLD SAID HE WILL RESIGN DEC 31 AS CHIEF FINANCIAL OFFICER OF THIS MAKER OF TANKS AND SUBMARINES TO PURSUE OTHER CAREER INTERESTS NO REPLACEMENT HAS BEEN NAMED THE COMPANY HAS UNDERGONE DRAMATIC SHRINKAGE IN THE LAST TWO YEARS AS IT SOLD OFF LARGE MISSILE FIGHTER AND GENERALAVIATION AIRCRAFT DIVISIONS GENERAL DYNAMICS SAID FINANCIAL POLICY WILL CONTINUE TO BE DIRECTED BY HARVEY KAPNICK 68 VICE CHAIRMAN OF THE BOARD AND CHAIRMAN OF ITS FINANCE COMMITTEE 9311150169 931115 CIRCON TO REPURCHASE SHARES SANTA BARBARA CALIF CIRCON CORP SAID IT PLANS TO REPURCHASE UP TO 400000 COMMON SHARES FROM TIME TO TIME ON THE OPEN MARKET CIRCON WHICH MAKES MINIATURE CAMERA SYSTEMS FOR MEDICAL USES SAID ANY SHARES ACQUIRED IN THE BUYBACK PROGRAM WOULD BE USED FOR EMPLOYEESTOCKINCENTIVE PLANS CIRCON HAD 78 MILLION SHARES OUTSTANDING ON SEPT 30 9311150168 931115 TECHNOLOGY & HEALTH SCIENTIFICATLANTA'S NEW DEVICE TO ALLOW PHONE CALLS USING CABLETV SYSTEM BY ANITA SHARPE STAFF REPORTER OF THE WALL STREET JOURNAL ATLANTA SCIENTIFICATLANTA INC IS EXPECTED TO ANNOUNCE TODAY THAT IT HAS DEVELOPED A NEW PRODUCT THAT WILL ALLOW CONSUMERS TO MAKE TELEPHONE CALLS OVER THEIR CABLETV SYSTEMS CALLED THE COACCESS NETWORK THE FOOTLONG BOXES WILL BE ATTACHED TO THE OUTSIDE OF A HOUSE THE DEVICE WILL PROVIDE INTERACTIVE GAMES AND ALLOW CUSTOMERS TO ORDER AS WELL AS RECEIVE PAYPERVIEW MOVIES OVER CABLE WIRES ACCORDING TO EXECUTIVES AT SCIENTIFICATLANTA AN ELECTRONICS MANUFACTURER BASED IN NORCROSS GA THE ABILITY TO OFFER PHONE SERVICE OVER CABLETV LINES IS A KEY PIECE IN THE GIANT CHESS GAME THAT'S TAKING PLACE BETWEEN THE CABLE AND TELEPHONE INDUSTRIES RIGHT NOW ONCE ARCHRIVALS THE TWO INDUSTRIES HAVE BEEN RUSHING TO FORM PARTNERSHIPS IN ORDER TO GET INTO EACH OTHER'S TERRITORIES BY PROVIDING PHONE SERVICE OVER CABLETV LINES AND VICE VERSA BUT THE CABLE COMPANIES STILL WILL COMPETE AGAINST THOSE PHONE COMPANIES THEY DON'T HAVE JOINT VENTURES WITH COX ENTERPRISES INC FOR INSTANCE IS EXPECTED TO LINK UP WITH SOUTHWESTERN BELL CORP IN ITS OWN ATLANTA MARKET THOUGH IT WOULD COMPETE WITH BELLSOUTH CORP SCIENTIFICATLANTA WON'T BE THE ONLY COMPANY ABLE TO SUPPLY THE SOUGHTAFTER TECHNOLOGY OTHER CONCERNS ARE WORKING ON VARIATIONS OF THE CONCEPT BUT SCIENTIFICATLANTA'S PRODUCT IS THE FIRST TO GAIN WIDESPREAD ATTENTION IN THE CABLE AND PHONE INDUSTRIES AND SCIENTIFICATLANTA HAS A TRACK RECORD EARLIER THIS YEAR TIME WARNER INC CHOSE IT TO SUPPLY THE FIRST DIGITAL CONVERTER BOX FOR ITS PROPOSED ELECTRONIC SUPERHIGHWAY IN ORLANDO FLA SCIENTIFICATLANTA EXECUTIVES SAY THAT BOTH CABLE AND PHONE COMPANIES ALREADY HAVE EXPRESSED INTEREST IN THE NEW PRODUCT AND THEY EXPECT TO ANNOUNCE SEVERAL BIG CONTRACTS IN THE NEXT TWO OR THREE WEEKS A SCIENTIFICATLANTA SPOKESMAN WOULD NOT COMMENT ON THAT SPECIFICALLY BUT SAID SOME OF THE BIG NAMES IN THE NEWS THESE PAST FEW WEEKS ARE SOME OF THE PEOPLE WE'VE BEEN WORKING WITH THE COACCESS EQUIPMENT WILL COST ABOUT 300 PER CABLE SUBSCRIBER ACCORDING TO SCIENTIFICATLANTA WHICH MEANS A CABLE OPERATOR SUCH AS TCI WOULD PAY ABOUT 3 BILLION TO OUTFIT ALL ITS 10 MILLION CUSTOMERS THE NEW PRODUCT COULD RESULT IN SALES OVER THE NEXT DECADE OF MANY MANY BILLIONS OF DOLLARS ACCORDING TO RON FOSTER VICE PRESIDENT AND GENERAL MANAGER OF SCIENTIFICATLANTA'S TELECOM SYSTEMS DIVISION SCIENTIFICATLANTA REPORTED ANNUAL SALES OF 7306 MILLION FOR FISCAL 1993 ENDED JULY 2 THERE ARE SOME HITCHES CURRENTLY LOCAL AND FEDERAL REGULATIONS RESTRICT CABLE COMPANIES FROM OFFERING LOCAL PHONE SERVICE BUT BOTH INDUSTRIES EXPECT THE LAWS TO BE CHANGED SOON IN THE WAKE OF THE PROPOSED MERGER OF BELL ATLANTIC CORP AND TELECOMMUNICATIONS INC ALSO SOME TELEPHONEINDUSTRY EXECUTIVES THINK IT WOULD BE UNWIELDY AND EXPENSIVE FOR MOST CABLE COMPANIES TO OFFER LOCAL PHONE SERVICE ANY TIME SOON BELLSOUTH SPOKESMAN ROBERT MORROW NOTES THAT MANY AREAS OF THE COUNTRY ARE SERVED BY MORE THAN ONE CABLE OPERATOR THOSE COMPANIES WOULD HAVE TO WORK OUT COMPLEX AGREEMENTS TO SWITCH CALLS BETWEEN NEIGHBORHOODS IN ORDER TO DUPLICATE THE KIND OF PHONE SERVICE NOW OFFERED BY THE LOCAL PHONE COMPANY HE SAYS EVEN SO THE CABLE OPERATORS THINK THE SCIENTIFICATLANTA PRODUCT GIVES THEM A LEG UP THE TELEPHONE INDUSTRY WILL HAVE TO REPLACE THEIR NETWORK TO OFFER VIDEO SERVICES SAID DICK MUELLER VICE PRESIDENT OF OPERATIONS ENGINEERING AT COX CABLE A UNIT OF COX ENTERPRISES AND THE NATION'S SIXTHLARGEST CABLE SYSTEM WE'VE GOT THE NETWORK IN PLACE ALL WE'RE LACKING IS THE BOXES AT EITHER END WHICH SCIENTIFICATLANTA IS NOW DEPLOYING THIS KIND OF PRODUCT ALLOWS THE CABLE COMPANIES TO GO AFTER THE PHONE COMPANIES 9311150167 931115 TOTAL PETROLEUM'S REDEMPTION DENVER TOTAL PETROLEUM NORTH AMERICA LTD SAID IT PLANS TO REDEEM ALL 313438 OF ITS 288 CUMULATIVE CONVERTIBLE PREFERRED SHARES ON DEC 20 THE OIL REFINER SAID THE REDEMPTION PRICE WILL BE ABOUT 3817 A SHARE DEPENDING ON CANADIANUS CURRENCYTRANSLATION STANDARDS AT THE TIME OF REDEMPTION 9311150166 931115 FOURTH FINANCIAL PURCHASE WICHITA KAN FOURTH FINANCIAL CORP SAID THAT ITS BANK IV KANSAS UNIT AGREED IN PRINCIPLE TO ACQUIRE CLOSELY HELD EMPRISE FINANCIAL CORP'S EMPRISE BANKHUTCHINSON UNIT TERMS WERE NOT DISCLOSED ACCORDING TO FOURTH FINANCIAL A BANK HOLDING COMPANY EMPRISE BANKHUTCHINSON SERVES HUTCHINSON KAN AND SEVERAL OTHER WESTERN MARKETS IN THE STATE IT HAD ASSETS OF 260 MILLION AND LOANS OF 167 MILLION AS OF SEPT 30 9311150165 931115 TECHNOLOGY A SPECIAL REPORT THE BASICS LOGGING ON ALL IT TAKES IS A COMPUTER A MODEM AND A SIMPLE COMMUNICATIONS PROGRAM BY MICHAEL WOFSEY ONLINE SERVICES TURN THAT BLANK HOME COMPUTER SCREEN INTO A LIBRARY A BULLETIN BOARD A MAILBOX AND A TOWN MEETING YOU CAN TRACK A STOCK AND DO YOUR BANKING YOUR KIDS CAN RESEARCH SCHOOL REPORTS AND EVERYBODY CAN PLAY COMPUTER GAMES AFTER THEY SEND A NOTE TO GRANDMA WHO IS ONLINE IN ANOTHER CITY BUT FIRST YOU HAVE TO DO SOMETHING MORE BASIC YOU HAVE TO ACTUALLY GET ONLINE TO GET STARTED YOU NEED A HOME COMPUTER A NEARBY TELEPHONE JACK A MODEM TO CONNECT YOUR COMPUTER TO THE JACK AND SOFTWARE THAT LETS YOUR COMPUTER TALK ON THE PHONE SOME SERVICES REQUIRE SPECIAL SOFTWARE SO ASK GENERALLY IT WILL BE AVAILABLE FROM THE SERVICE ITSELF OR CAN BE FOUND IN MOST COMPUTER STORES A MODEM IS A DEVICE THAT ALLOWS YOUR COMPUTER TO SPEAK TO ANOTHER COMPUTER THROUGH THE PHONE LINES MANY HOME COMPUTERS ALREADY HAVE A MODEM BUILT IN IF YOURS DOESN'T 100 OR LESS WILL BUY A FUNCTIONAL MODEM THAT YOU SIMPLY PLUG IN LIKE YOU WOULD A PRINTER AND CONNECT TO THE TELEPHONE LINE CAUTION WHEN YOUR COMPUTER IS USING THE MODEM IT TIES UP YOUR PHONE LINE CALLERS WILL HEAR A BUSY SIGNAL AND ANYONE WHO PICKS UP AN EXTENSION PHONE WILL MESS UP THE COMPUTER'S CONNECTION IF TYING UP THE PHONE CREATES A PROBLEM IN YOUR HOUSEHOLD CONSIDER INSTALLING A SEPARATE LINE FOR THE COMPUTER BAUD AND BPS BITS PER SECOND RATES ARE MEASURES OF HOW FAST A MODEM CAN COMMUNICATE THE TERMS ARE OFTEN USED INTERCHANGEABLY THOUGH THERE IS A TECHNICAL DIFFERENCE JUST REMEMBER THE HIGHER THE NUMBER THE FASTER THE INFORMATION WILL SHOW UP ON YOUR SCREEN THESE DAYS 2400 BAUD IS COMPARATIVELY SLOW WHILE 9600 BAUD COMES IN HANDY IF YOU INTEND TO DOWNLOAD OR COPY FILES AND SOFTWARE FROM THE ONLINE SERVICE COPYING A COMPUTER GAME FOR EXAMPLE CAN TAKE MORE THAN AN HOUR WITH A SLOW MODEM AND THE METER IS TICKING IF YOU ARE USING AN ONLINE SERVICE THAT CHARGES BY THE MINUTE TREAT BUYING A MODEM LIKE PURCHASING ANY PIECE OF TECHNICAL EQUIPMENT DO SOME HOMEWORK SO YOU UNDERSTAND THE BASIC CONCEPTS COMPUTER MAGAZINES LIKE PC MAGAZINE PC COMPUTING AND PC WORLD ROUTINELY RUN ARTICLES AND RATINGS LISTS FOR TOPSELLING EQUIPMENT AND SOFTWARE COMPUTERSTORE EMPLOYEES CAN SHOW YOU VARIOUS MODEMS AND EXPLAIN WHAT THEY DO SOME ADVICE INVEST IN THE HIGHEST SPEED YOU CAN BECAUSE THE FASTER YOUR MODEM WORKS THE MORE YOU WILL SAVE IN ONLINE USER FEES THAT CHARGE PER MINUTE MAKE SURE YOUR MODEM HAS A PROVISION FOR ERROR CORRECTION WHICH HELPS YOUR COMPUTER COMMUNICATE PROPERLY OVER A POOR TELEPHONE LINE ALSO CONSIDER CHOOSING A MODEM WITH FAX CAPABILITY THIS FEATURE LETS YOU SEND A FILE FROM YOUR COMPUTER DIRECTLY TO SOMEONE'S FAX MACHINE YOU DON'T HAVE TO PRINT OUT THE FILE FIRST IT'S A HANDY ADDITION FOR ANYONE WHO REGULARLY WRITES AND SENDS LETTERS OR REPORTS BECAUSE A DIRECT MODEM LINK TO A FAX MACHINE TRANSMITS THE INFORMATION MUCH MORE QUICKLY THAN FEEDING IT PAGE BY PAGE THE SPEED AND EFFICIENCY SAVE MONEY ON LONGDISTANCE FAXING BE AWARE THAT A MODEM WITH FAX CAPABILITY NEEDS FAX SOFTWARE GENERALLY SUCH SOFTWARE COMES WITH THE MODEM PRODIGY ALONG WITH AMERICA ONLINE AND COMPUSERVE ARE AMONG THE COMPANIES THAT SUPPLY THE SOFTWARE YOU NEED TO USE THEIR NETWORKS OTHERWISE YOU NEED A COMMUNICATIONS PROGRAM TO LET YOUR COMPUTER TALK THROUGH THE MODEM BEFORE YOU BUY ANYTHING CHECK YOUR HARD DRIVE AND THE SOFTWARE YOU ALREADY OWN MANY HARDWARE AND SOFTWARE PACKAGES INCLUDE COMMUNICATIONS PROGRAMS BUNDLED IN WITH OTHER FEATURES ALL MACINTOSH PERFORMAS FOR INSTANCE COME WITH THEIR OWN VERSION OF COMMUNICATIONS SOFTWARE ALREADY INSTALLED AS DO A NUMBER OF IBMCOMPATIBLE PERSONAL COMPUTERS IF YOU USE THE POPULAR MICROSOFT WINDOWS SOFTWARE YOU CAN TRY THE VERY BASIC COMMUNICATIONS PROGRAM THAT COMES WITH IT IF YOU BUY A MODEM COMMUNICATIONS SOFTWARE USUALLY COMES WITH IT IF YOU MUST CHOOSE OR BUY YOUR OWN SOFTWARE RATINGS AND LISTS OF BESTSELLERS IN COMPUTER MAGAZINES CAN BE A GUIDE HOW SCARY IS IT TO GO ONLINE NOT VERY YOU DON'T EVEN NEED TO SIGN UP WITH A BIG ONLINE COMPANY LIKE PRODIGY OR AMERICA ONLINE TO GET STARTED THERE ARE THOUSANDS OF BULLETIN BOARDS OPEN TO ANYONE WHO DIALS IN ON A MODEM SOME ARE FREE EXCEPT FOR YOUR TELEPHONE CHARGE IF THE CALL IS LONGDISTANCE OTHERS HAVE MEMBERSHIP FEES AND IF YOU CAN TYPE YOUR NAME YOU CAN PARTICIPATE TYPICALLY YOU DIAL UP THE BULLETIN BOARD AND A WELCOME SCREEN GREETS YOU AND TELLS YOU WHAT TO DO IT'S THAT SIMPLE GENERALLY YOU WILL GET INFORMATION ABOUT ANY RULES TO FOLLOW AND HOW TO GET HELP IF YOU NEED IT OFTEN YOU WILL BE ENCOURAGED TO EXPLORE THE BULLETIN BOARD FREE OF CHARGE DURING A TRIAL PERIOD AS YOU LOOK AROUND IN THE BULLETIN BOARD YOU WILL PROBABLY COME ACROSS A PLACE WERE MESSAGES ARE POSTED AS WELL AS A LIBRARY OF FILES COMPUTER GAMES GRAPHICS ETC THAT PEOPLE CAN COPY FOR THEIR OWN USE THE BIG ONLINE COMPANIES ARE NO MORE INTIMIDATING ON AMERICA ONLINE FOR EXAMPLE A CYBERNETIC VOICE GREETS YOU AND QUICKLY SHOWS YOU A SCREEN FULL OF OPTIONS NEED SOME FINANCIAL INFORMATION WITH YOUR KEYBOARD OR MOUSE JUST CLICK ON THE PICTURE REPRESENTING THE SUBJECT YOU WANT THE COMPANY'S SPECIAL SOFTWARE USES PICTURES KNOWN AS ICONS AND MENUS SIMILAR TO THOSE OF MICROSOFT WINDOWS AND THE APPLE MACINTOSH SENDING AND RECEIVING MAIL IS DONE VISUALLY BY CLICKING ON TINY MAIL BASKETS MOST OF THE BIG ONLINE COMPANIES OFFER SIMILAR USERFRIENDLY METHODS TO WALK SUBSCRIBERS THROUGH THEIR SERVICES WHAT DO YOU WANT TO DO SEND ELECTRONIC MAIL EMAIL TO SOMEONE ELSE PLAY COMPUTER GAMES READ POSTINGS IN A DISCUSSION GROUP CHAT VIA COMPUTER WITH PEOPLE OF SIMILAR INTERESTS READ NEWSPAPERS GET SPORTS SCORES RESEARCH A PARTICULAR TOPIC CHECK THE WEATHER BACK HOME AND SEND A COPY OF THE INFORMATION TO YOUR PRINTER SO YOU DON'T HAVE TO TAKE NOTES YOU CAN DO ANY OF THIS ONLINE THE TRICK IS FINDING THE SERVICE THAT'S EASY AND COSTEFFECTIVE FOR YOUR PURPOSES ONLINE SERVICES FALL INTO TWO CATEGORIES INTERACTIVE VIA YOUR COMPUTER YOU CAN SEND AND RECEIVE MESSAGES ORDER AIRPLANE TICKETS PLAY GAMES COPY SOFTWARE AND INFORMATION RETRIEVAL THINK OF IT AS ACCESS TO A HUGE LIBRARY THE BIG ONLINE COMPANIES SUCH AS PRODIGY AND COMPUSERVE ARE LIKE SHOPPING MALLS THEY OFFER ACCESS TO ALL SORTS OF INDIVIDUAL ONLINE SERVICES FROM DISCUSSION GROUPS TO RESEARCH DATABASES UNDER ONE ROOF THE INDIVIDUAL SERVICES MAY EXIST OUTSIDE THE MALL TOO BUT EACH MAY HAVE ITS OWN SET OF COMMANDS AND FEE STRUCTURE TO FIND OUT ABOUT INDIVIDUAL ONLINE SERVICES WORDOFMOUTH IS LIKELY THE FASTEST SIMPLEST WAY COMPUTER ENTHUSIASTS LIKE TO TALK SHOP ASK AROUND AND HAVE YOUR CHILDREN ASK THEIR FRIENDS ABOUT WHAT THEY HAVE TRIED TALK TO PEOPLE AT COMPUTER STORES READ COMPUTER MAGAZINES FOR USER RATINGS AND ADS ABOUT BULLETIN BOARDS IN YOUR AREA FOR EXAMPLE REFERENCE BOOKS LIKE THE WHOLE EARTH ONLINE ALMANAC WRITTEN BY DON RITTNER AND PUBLISHED BY PRENTICE HALL LIST THOUSANDS OF RESOURCES AVAILABLE THROUGH CONSUMER AND PROFESSIONAL ONLINE SERVICES THEN ARRANGE FOR A SHORTTERM TRIAL OF VARIOUS SERVICES AND DO YOUR OWN COMPARISONS FEW SUBSCRIBERS USE EVERY FEATURE A SERVICE OFFERS EXPERIMENT TO FIND WHAT WORKS FOR YOU SOME OF THE BIGGEST CONSUMER ONLINE SERVICES ARE AMERICA ONLINE COMPUSERVE GENIE AND PRODIGY EACH HAS ITS OWN SYSTEM OF MONTHLY AND PERHOUR FEES SOME CHARGE LESS DURING OFFPEAK HOURS LIKE EVENINGS AND WEEKENDS THERE MAY BE A BASIC MONTHLY CHARGE PLUS A FEE PER MINUTE OF USE THERE MAY BE A SURCHARGE IF YOU GO ONLINE DURING BUSINESS HOURS AND CERTAIN SERVICES SUCH AS ACCESS TO A SPECIALIZED DATABASE COULD COST EVEN MORE THE LARGEST NETWORK OF COMPUTERS IS THE INTERNET GENERALLY PEOPLE GAIN ACCESS TO THE INTERNET THROUGH A MAJOR ONLINE SERVICE LIKE COMPUSERVE OR AMERICA ONLINE AND TYPICALLY THOSE SERVICES USE THE INTERNET ONLY TO SEND AND RECEIVE EMAIL FROM ALMOST ANYWHERE IN THE WORLD DELPHI IS AN EXCEPTION IT PROVIDES FULL ACCESS TO THE INTERNET'S GLOBAL RESOURCES WHICH INCLUDE THE DATABASES OF SOME OF THE WORLD'S BIGGEST UNIVERSITIES MR WOFSEY IS A FORMER INTERN IN THE WALL STREET JOURNAL'S SAN FRANCISCO BUREAU 9311150164 931115 INTERNATIONAL EUROPEAN REDEVELOPMENT BANK LONDON THE EUROPEAN BANK FOR RECONSTRUCTION & DEVELOPMENT POSTED PROFIT OF 23 MILLION EUROPEAN CURRENCY UNITS 26 MILLION FOR THE NINE MONTHS ENDED SEPT 30 THE MULTINATIONAL LENDING INSTITUTION DIDN'T RELEASE YEAREARLIER FIGURES THE EBRD SET UP 2 1/2 YEARS AGO HAS BEEN WORKING TO RESPOND TO CRITICISM IN THE SPRING THAT IT SPENT TOO LAVISHLY ON ITS HEADQUARTERS AND ON EXECUTIVE PERKS THE BANK WAS FORMED TO HELP COUNTRIES IN EASTERN EUROPE TO DEVELOP LAST WEEK ITS NEW PRESIDENT OUTLINED A REORGANIZATION INCLUDING LAYOFFS AND CLOSER SPENDING SCRUTINY 9311150163 931115 COLUMBIA GAS SYSTEMS MOTION WILMINGTON DEL COLUMBIA GAS SYSTEM INC SAID IT FILED A MOTION IN FEDERAL BANKRUPTCY COURT TO EXTEND ITS DEADLINE TO FILE AN EXCLUSIVE CHAPTER 11 BANKRUPTCY REORGANIZATION PLAN TO MARCH 22 1994 THE CURRENT DEADLINE IS NOV 22 COLUMBIA WHICH FILED WITH ITS COLUMBIA GAS TRANSMISSION CORP UNIT SAID A REORGANIZATION PLAN FOR THE UNIT IS EXPECTED TO BE FILED BEFORE THE END OF THE 120DAY PERIOD BECAUSE THE UNIT'S PLAN WILL AFFECT THE PARENT'S COLUMBIA GAS SYSTEM EXPECTS TO FILE ITS PLAN AFTER COLUMBIA GAS TRANSMISSION'S THE COURT HAS GRANTED SEVEN PREVIOUS DEADLINE EXTENSIONS 9311150162 931115 S&P INDEX DROPS AMAX INC NEW YORK STANDARD & POOR'S CORP SAID AMAX INC A MINERAL AND ENERGY CONCERN WAS REMOVED FROM ITS S&P 500 STOCK INDEX FOLLOWING COMPLETION OF A MERGER WITH CYPRUS MINERALS CO AMERICAN BARRICK RESOURCES CORP TORONTO WILL REPLACE AMAX IN THE INDEX CURRENTLY AMERICAN BARRICK IS IN THE S&P MIDCAP 400 INDEX NATIONAL HEALTH LABORATORIES INC LA JOLLA CALIF WILL REPLACE AMERICAN BARRICK IN THE S&P MIDCAP 400 INDEX THE RATING CONCERN ALSO SAID IT WILL DROP MEDCO CONTAINMENT SERVICES INC MONTVALE NJ FROM THE S&P MIDCAP 400 INDEX AT THE CLOSE OF TRADING NOV 18 FOLLOWING ITS MERGER WITH MERCK & CO PERRIGO CO ALLEGAN MICH WILL REPLACE MEDCO CONTAINMENT IN THE INDEX 9311150161 931115 AMRION INC SECONDARY OFFERING BOULDER COLO AMRION INC SAID IT COMPLETED A SECONDARY PUBLIC OFFERING OF 19 MILLION COMMON SHARES AT 675 A SHARE OF THE SHARES 1520000 WERE SOLD BY AMRION AND 380000 WERE SOLD BY A SHAREHOLDER THE COMPANY SAID THE MARKETER OF NUTRITIONAL SUPPLEMENTS AND HEALTH PRODUCTS SAID IT WOULD USE THE PROCEEDS TO BUILD A MANUFACTURING FACILITY AND TO DEVELOP NEW MARKETS AND PRODUCTS AND FOR WORKING CAPITAL THE MANAGING UNDERWRITER WAS JOHN G KINNARD & CO AMRION SAID UNDERWRITERS WERE GRANTED AN OPTION TO PURCHASE UP TO 285000 ADDITIONAL SHARES TO COVER OVERALLOTMENTS 9311150160 931115 ROWAN GENERAL CABLE ACCORD HOUSTON ROWAN COS SAID IT AGREED DEFINITIVELY TO ACQUIRE THE MARATHON LETOURNEAU CO UNIT OF GENERAL CABLE CORP FOR ABOUT 50 MILLION ROWAN A CONTRACTDRILLINGSERVICES PROVIDER SAID MARATHON LETOURNEAU BASED IN LONGVIEW TEXAS OPERATES A STEEL MILL PRODUCES HEAVY EQUIPMENT FOR THE MINING AND TIMBER INDUSTRIES AND BUILDS DRILLING RIGS GENERAL CABLE IS A MAKER OF ELECTRONIC AND TELECOMMUNICATIONS CABLE BASED IN HIGHLAND PARK KY 9311150159 931115 TECHNOLOGY GENPHARM TAKES STEP TOWARD MOUSE MODEL OF ALZHEIMER'S DISEASE MOUNTAIN VIEW CALIF GENPHARM INTERNATIONAL A BIOTECHNOLOGY COMPANY SAID IT TOOK A STEP TOWARD THE CREATION OF A TRANSGENIC MOUSE MODEL OF ALZHEIMER'S DISEASE ONE HALLMARK OF THE FATAL BRAINDESTROYING DISEASE IS THE FORMATION WITHIN THE BRAIN OF PLAQUES COMPRISED OF A SUBSTANCE KNOWN AS AMYLOID PRECURSOR PROTEIN IN A REPORT IN THE PROCEEDINGS OF THE NATIONAL ACADEMY OF SCIENCES GENPHARM SAID ITS SCIENTISTS SUCCESSFULLY INSERTED THE GENE FOR THE PROTEIN INTO A LINE OF TRANSGENIC MICE THE REPORT BY BARBARA PEARSON AND TED CHOI SAID THE MICE HAVE BEGUN TO SHOW THE TRANSPLANTED GENE THE COMPANY PLANS TO BREED AND OBSERVE THE TRANSGENIC MICE AS THEY AGE TO SEE WHETHER THE PLAQUES FORM IN THE BRAIN AS THEY DO IN HUMANS WITH ALZHEIMER'S DISEASE 9311150158 931115 INVESTCORP COMPLETES ACQUISITION NEW YORK INVESTCORP AN INTERNATIONAL INVESTMENT GROUP IN BAHRAIN COMPLETED ITS PURCHASE OF CAMELOT MUSIC INC FOR AN UNDISCLOSED AMOUNT THOSE FAMILIAR WITH THE DEAL SAID THE PURCHASE PRICE WAS ABOUT 350 MILLION CAMELOT FOUNDED 37 YEARS AGO IN NORTH CANTON OHIO SELLS CDS CASSETTES AND VIDEO PRODUCTS IN 368 MALLBASED STORES IN THE US A PRIVATELY HELD COMPANY THAT IS THE NATION'S THIRD LARGEST MUSIC RETAILER CAMELOT HAD REVENUE OF 421 MILLION FOR FISCAL 1993 INVESTCORP'S OTHER NORTH AMERICAN INVESTMENTS INCLUDE SAKS FIFTH AVENUE TIFFANY & CO CIRCLE K CORP CARVEL CORP COLOR TILE INC AND SPORTS & RECREATION INC 9311150157 931115 LONE STAR COMPLETES BANKING UNIT'S SALE TO TEMPLEINLAND INC DALLAS LONE STAR TECHNOLOGIES INC SAID IT HAD COMPLETED THE SALE OF ITS AMERICAN FEDERAL BANK UNIT TO TEMPLEINLAND INC'S GUARANTY FEDERAL BANK FOR 155 MILLION STEEL MANUFACTURER LONE STAR SAID THE SALE PRICE WHICH IS SUBJECT TO MINOR ADJUSTMENTS IS 5 MILLION HIGHER THAN ESTIMATES MADE AT THE TIME THE SALE AGREEMENT WAS ANNOUNCED IN FEBRUARY DUE TO AMERICAN FEDERAL'S BETTERTHANEXPECTED RESULTS THIS YEAR THE SALE PRICE ALSO INCLUDES A 20 MILLION ESCROW TO COVER CONTINGENCIES THE COMPANY SAID A SPOKESWOMAN SAID LONE STAR HASN'T DETERMINED ITS GAIN FROM THE SALE BUT SAID THAT AMERICAN FEDERAL HAD AN ESTIMATED BOOK VALUE OF 131 MILLION AS OF SEPT 30 LONE STAR ACQUIRED AMERICAN FEDERAL FROM FEDERAL REGULATORS IN 1988 FOR 48 MILLION AS PART OF THE SOCALLED SOUTHWEST PLAN FOR DISPOSAL OF INSOLVENT THRIFTS AMERICAN FEDERAL HAS 15 BILLION IN ASSETS AND 30 BRANCH OFFICES IN THE DALLASFORT WORTH AREA GUARANTY SAID THE FACILITIES WOULD REOPEN AS GUARANTY OFFICES BEGINNING TODAY TEMPLEINLAND IS A PAPER PACKAGING BUILDINGPRODUCTS AND FINANCIALSERVICES CONCERN BASED IN DIBOLL TEXAS IN COMPOSITE TRADING FRIDAY ON THE NEW YORK STOCK EXCHANGE ITS SHARES ROSE 4375 OR 96 TO CLOSE AT 50125 A SHARE AMID A SURGE IN FORESTPRODUCTS STOCKS LONE STAR CLOSED AT 9125 A SHARE UP 25 CENTS IN NASDAQ STOCK MARKET TRADING 9311150156 931115 VMX INC REVERSE STOCK SPLIT SAN JOSE CALIF VMX INC SAID ITS SHAREHOLDERS APPROVED A PROPOSAL ALLOWING THE COMPANY'S DIRECTORS TO DECLARE A 1FOR3 REVERSE STOCK SPLIT THE REVERSE SPLIT MAY BE IMPLEMENTED ANYTIME IN THE NEXT YEAR IF AND WHEN MARKET CONDITIONS ARE FAVORABLE THE MAKER OF COMMUNICATIONS SYSTEMS SAID ON SEPT 30 THE COMPANY HAD ABOUT 28 MILLION SHARES OUTSTANDING 9311150155 931115 INTERNATIONAL PHILIPS ELECTRONICS CHINESE PLAN AMSTERDAM PHILIPS ELECTRONICS NV AGREED TO FORM ITS SECOND MAJOR LIGHTING PRODUCTS VENTURE IN CHINA THIS TIME WITH SHANGHAI YAMING ELECTRIC LAMP WORKS THE SIZE OF ITS PLANNED INVESTMENT WASN'T DISCLOSED THE DUTCH ELECTRONICS COMPANY A LEADING MANUFACTURER OF LIGHT BULBS HAS SET UP ABOUT 10 JOINT VENTURES IN CHINA IN THE PAST SEVERAL YEARS COVERING A WIDE RANGE OF PRODUCTS FROM SPECIALTY COMPONENTS TO CONSUMER ELECTRONICS PHILIPS WILL OWN 60 OF THE NEW VENTURE WHICH WILL BE NAMED PHILIPS & YAMING LIGHTING LTD THE NEW VENTURE WILL MAKE ENERGYSAVING COMPACT FLUORESCENT LAMPS HIGHINTENSITY DISCHARGE LAMPS STRAIGHT AND CIRCULAR FLUORESCENT LAMPS AND HALOGEN LAMPS 9311150154 931115 FRANKLIN MERGER PLAN REJECTED SAN MATEO CALIF FRANKLIN PROPERTIES INC SAID A PROPOSAL TO MERGE THREE REAL ESTATE INVESTMENT TRUSTS IT MANAGES INTO FRANKLIN REALTY TRUST INC WAS REJECTED BY SHAREHOLDERS AT A SPECIAL SHAREHOLDERS' MEETING THE THREE COMPANIES FRANKLIN REAL ESTATE INCOME FUND FRANKLIN SELECT REAL ESTATE INCOME FUND AND FRANKLIN ADVANTAGE REAL ESTATE INCOME FUND WILL CONTINUE TO OPERATE AS SEPARATE REITS FRANKLIN PROPERTIES IS A SUBSIDIARY OF FRANKLIN RESOURCES INC AN INVESTMENT ADVISORY AND SERVICES FIRM 9311150153 931115 STRATEGIC MAPPING'S PURCHASE SANTA CLARA CALIF STRATEGIC MAPPING INC SAID IT COMPLETED ITS ACQUISITION OF DONNELLEY MARKETING INFORMATION SERVICES A UNIT OF DUN & BRADSTREET CO'S AC NIELSEN CO ALTHOUGH TERMS WEREN'T DISCLOSED DUN & BRADSTREET WILL RETAIN AN INVESTMENT IN STRATEGIC A MAKER OF SOFTWARE THAT LINKS MAPS WITH DEMOGRAPHIC AND GEOGRAPHIC DATA 9311150152 931115 POLITICS & POLICY EXPENSIVE BATTLE OVER NAFTA HAS EACH SIDE CLAIMING IT'S BEING OUTGUNNED AND OUTSPENT BY JILL ABRAMSON AND BOB DAVIS STAFF REPORTERS OF THE WALL STREET JOURNAL WASHINGTON THE BATTLE OVER THE NORTH AMERICAN FREE TRADE AGREEMENT WILL GO DOWN IN THE RECORD BOOKS NOT ONLY AS ONE OF THE MOST BITTER CONGRESSIONAL FIGHTS IN RECENT MEMORY BUT ALSO THE MOST EXPENSIVE EACH SIDE CLAIMS IT HAS BEEN OUTGUNNED AND OUTSPENT THERE'S BEEN MORE MONEY SPENT AGAINST THE NAFTA THAN FOR IT FOR SURE VICE PRESIDENT AL GORE SAID IN HIS DEBATE WITH ROSS PEROT LAST WEEK ON THE LARRY KING SHOW MR PEROT RETORTED THAT IS NOT EVEN CLOSE TO TRUE TRUTH BE TOLD POORMOUTHING BY EITHER SIDE IS FARFETCHED BECAUSE THE PRONAFTA AND ANTINAFTA FORCES HAVE BOTH SPENT MILLIONS OF DOLLARS ON HIGHLEVEL ARMTWISTING AND LAVISH ADVERTISING CAMPAIGNS TO INFLUENCE MEMBERS OF CONGRESS INCLUDING 10 MILLION SPENT BY MEXICO THIS YEAR THE CAMPAIGN FOR PASSAGE OF NAFTA HAS COST AT LEAST 17 MILLION ACCORDING TO A WALL STREET JOURNAL ESTIMATE THE ANTINAFTA BRIGADES MEANWHILE HAVE SPENT ABOUT 6 MILLION AND DISPATCHED THOUSANDS OF FOOT SOLDIERS TO PRESSURE LAWMAKERS AND STOKE ANTINAFTA FERVOR THIS TAB DOESN'T EVEN INCLUDE AN ARRAY OF OTHER BIGBUDGET ITEMS THAT ARE TIED TO THE NAFTA VOTE WHICH IS DUE TO COME UP IN THE HOUSE WEDNESDAY AS UNDECIDED LAWMAKERS STRUGGLE TO MAKE UP THEIR MINDS LABOR'S THREAT TO WITHHOLD CONTRIBUTIONS FROM THOSE WHO DON'T TOE THE ANTINAFTA LINE LOOMS LARGE IN THE MOST RECENT CONGRESSIONAL ELECTIONS AND IN THE FIRST PART OF THIS YEAR LABOR ENVIRONMENTAL AND OTHER POLITICAL ACTION COMMITTEES OPPOSED TO THE TREATY CONTRIBUTED 17 MILLION TO LAWMAKERS AS WELL AS SUPPLYING ADDITIONAL MONEY AND MANPOWER FOR GETOUTTHEVOTE OPERATIONS MEANWHILE PRONAFTA CORPORATE PAC CONTRIBUTIONS SHOULD GIVE COMFORT TO TREATY SUPPORTERS THE PACS OF THE 35 LARGE CORPORATIONS MOST ACTIVE IN THE CORPORATE LOBBYING FOR NAFTA GAVE 93 MILLION TO LAWMAKERS OVER THE PAST 18 MONTHS CONTRIBUTING TO PRONAFTA LEGISLATORS BY A MARGIN OF 2TO1 ALTHOUGH MONEY WON'T DECIDE THE OUTCOME THE WHITE HOUSE'S NAFTA COORDINATOR WILLIAM DALEY OBSERVES MONEY IS AN IMPORTANT INGREDIENT IT'S GETTING TOO IMPORTANT THE BUSINESS ROUNDTABLE WHICH CREATED THE USANAFTA LOBBYING COALITION WAS SLOW TO GET STARTED THEY SHOULD HAVE WEIGHED IN MUCH EARLIER SAYS US TRADE REPRESENTATIVE MICKEY KANTOR INITIALLY USANAFTA COLLECTED 100000 APIECE FROM 20 COMPANIES MOST OF WHICH WAS PAID OUT TO THE WEXLER GROUP A WASHINGTON FIRM TO CONDUCT A GRASSROOTS LOBBYING CAMPAIGN THAT DIDN'T RESULT IN MUCH OF A PUBLIC OUTCRY FOR THE TRADE AGREEMENT SO IN THE EARLY FALL THE COMPANIES PONIED UP A LOT MORE CASH ENOUGH TO FUND A 35 MILLION ADVERTISING CAMPAIGN ALTOGETHER USANAFTA HAS SPENT ABOUT 7 MILLION ON ITS LOBBYING CAMPAIGN ALTHOUGH LEADERS OF THE COALITION WON'T CONFIRM THE FIGURE WHEN THE OPPOSITION DOES WE WILL SAYS SANDRA MASUR OF EASTMAN KODAK CO BUT WE'RE BEING WELL OVERSPENT THE COMBINATION OF THE AFLCIO AND MR PEROT IS A PRETTY FORMIDABLE SET OF RESOURCES RECENTLY USANAFTA HAS BEEN MORE ADEPT AT REACHING PRONAFTA CONSTITUENTS AND IS OPERATING SEVERAL 800 NUMBERS AND PHONE BANKS THAT HAVE GENERATED THOUSANDS OF PRONAFTA CALLS AND TELEGRAMS TO MEMBERS OF CONGRESS ON THE DAY OF THE VOTE USANAFTA PLANS TO OPERATE ITS OWN WAR ROOM ON CAPITOL HILL APART FROM USANAFTA INDIVIDUAL COMPANIES AND TRADE GROUPS HAVE BEEN POURING MONEY INTO THEIR OWN PRONAFTA ADS AND LOBBYING THE AMERICAN AUTOMOBILE MANUFACTURERS ASSOCIATION THE TRADE GROUP THAT REPRESENTS THE BIG THREE AUTO COMPANIES HAS FOR EXAMPLE UNDERWRITTEN A RADIO AD CAMPAIGN FOR NAFTA AND IS SENDING MEMBERS TO VISIT LAWMAKERS WHO ARE ON THE FENCE IN THE PAST FEW WEEKS PRIVATE ORGANIZATIONS SUPPORTING THE AGREEMENT HAVE CLOSELY COORDINATED THEIR LOBBYING WITH THE WHITE HOUSE WHILE THE WHITE HOUSE BY LAW ISN'T ALLOWED TO DIRECT THE CONGRESSIONAL LOBBYING OF OUTSIDE GROUPS NEARLY EVERY CABINET OFFICE HAS BEEN INVOLVED IN A CONCERTED PRONAFTA PUSH THE AGRICULTURE DEPARTMENT FOR EXAMPLE HAS PRINTED THOUSANDS OF GLOSSY PACKETS INCLUDING TALKING POINTS ON WHY NAFTA WILL PROVIDE A BIG BOOST TO AMERICAN AGRICULTURE THE ENVIRONMENTAL PROTECTION AGENCY PRODUCED A PAMPHLET PRINTED ON RECYCLED PAPER CALLED NAFTA AN OPPORTUNITY FOR AMERICA'S ENVIRONMENT WHEN YOU TALK ABOUT HOW MUCH MONEY IS BEING SPENT YOU HAVE TO ASK HOW MUCH MONEY IT TAKES TO FLY CABINET MEMBERS AROUND AND HOW MUCH TAX MONEY IS BEING SPENT ON THIS PROPAGANDA SAYS DAVID SALTZ AN AFLCIO SPOKESMAN IN ITS THREEYEAR PUSH TO WIN A FREE TRADE AGREEMENT WITH THE US MEXICO HAS SPENT NEARLY 30 MILLION ON LOBBYING ACCORDING TO JUSTICE DEPARTMENT FILINGS COLLECTED BY THE CENTER FOR PUBLIC INTEGRITY AND ESTIMATES FROM THE MEXICAN MINISTRY OF COMMERCE AND INDUSTRIAL DEVELOPMENT MEXICO HAS FIVE WASHINGTON LOBBYING FIRMS ON RETAINER SOME OF THESE FIRMS ALSO REPRESENT COMPANIES IN THE USANAFTA COALITION SO THERE IS COORDINATION BETWEEN THE MEXICAN AND US CORPORATE EFFORTS IN ADDITION TO DIRECT MEXICAN GOVERNMENT SPENDING THE MEXICAN BUSINESS COUNCIL A GROUP OF 40 COMPANIES LAUNCHED A SEPARATE AD CAMPAIGN FOR NAFTA LAST MONTH THE AMOUNT OF THE MONEY BEING SPENT SPEAKS TO THE DIFFICULTY OF SELLING THIS AGREEMENT SAYS JIM JONTZ HEAD OF THE CITIZENS TRADE CAMPAIGN THE GRASSROOTS COALITION OPPOSING NAFTA IT'S BEEN EXTRAORDINARILY DIFFICULT TO GET COVERAGE FOR ANY VIEWS FROM MEXICO OTHER THAN THAT OF THE GOVERNMENT OR BUSINESS SECTOR BUT HERMAN VON BERTRAB WHO RUNS THE MEXICAN EMBASSY'S PRONAFTA EFFORT SAYS THE SPENDING IS NECESSARY TO COUNTER MEXICO BASHING BY MR PEROT AND OTHER FOES OF THE AGREEMENT UNIONS OPPOSED TO THE TREATY GOT ORGANIZED EARLY AND HAVE KEPT THE ANTINAFTA DECIBEL LEVEL EXTREMELY HIGH WITH HELP FROM A 325 MILLION TELEVISION AD CAMPAIGN WE BEGAN OUR MEDIA BUYOUT OF REACTION TO THE USANAFTA STUFF SAYS MARK ANDERSON THE AFLCIO'S TRADE DIRECTOR ARE WE BEING OUTSPENT YOU BET NOT EVEN CLOSE BUT LABOR ALONG WITH ALLIES SUCH AS RALPH NADER'S PUBLIC CITIZEN AND SOME ENVIRONMENTAL ACTIVISTS HAS ADDITIONAL RESOURCES THAT THE CORPORATE PRONAFTA FORCES CAN'T BUY HUNDREDS IF NOT THOUSANDS OF MEMBERS WILLING TO STAGE RALLIES MAKE PHONE CALLS EVEN PICKET THE OFFICES OF WAVERING LEGISLATORS OUR BASIC STRENGTH IS PEOPLE SAYS MR ANDERSON THE COMPANIES' STRENGTH IS MONEY MANY DEMOCRATIC LAWMAKERS DEPEND ON UNIONS TO SUPPLY THE ELECTIONTIME MANPOWER FOR PHONE BANKS AND DOORTODOOR SOLICITATIONS WHILE LABOR CONTRIBUTIONS HELP TO PAY FOR THEIR TELEVISION ADS WE'RE TELLING THEM THAT WE'RE NOT GIVING ANYTHING UNTIL THE VOTE SAYS BILL BYWATER PRESIDENT OF THE INTERNATIONAL UNION OF ELECTRICAL WORKERS THE TEXAS BILLIONAIRE HAS PERSONALLY PAID FOR INFOMERCIALS CRITICIZING NAFTA COSTING 23 MILLION TO PRODUCE AND AIR ACCORDING TO PEROT SPOKESWOMAN SHARON HOLMAN THE MEDIA MONEY COMES ON TOP OF MONTHS OF ANTINAFTA CRUSADING BY HIS ORGANIZATION UNITED WE STAND AMERICA WHICH HAS STATE LEADERS ON ITS PAYROLL COORDINATING ANTINAFTA ACTIVITIES BECAUSE UNITED WE STAND OPERATES AS A CHARITABLE FOUNDATION NOT A POLITICAL PARTY ITS FINANCES ARE NOT PUBLICLY DISCLOSED AND THE COST OF THESE RELATED ACTIVITIES IS UNKNOWN MR PEROT HAS PLEDGED TO PUBLICLY DISCLOSE INFORMATION ABOUT THE GROUP'S MEMBERSHIP AND SPENDING AT A LATER UNSPECIFIED TIME 9311150151 931115 ABREAST OF THE MARKET STOCKS' TECHNICAL FOUNDATIONS RAISE CONCERN BY ANITA RAGHAVAN STAFF REPORTER OF THE WALL STREET JOURNAL NEW YORK AS THE DOW JONES INDUSTRIAL AVERAGE VERGES ON A NEW HIGH SOME ANALYSTS ARE FRETTING THAT THE TECHNICAL FOUNDATIONS OF THE STOCK MARKET LOOK SHAKY DESPITE THE MARKET'S STRONG REBOUND FROM ITS SELLOFF EARLIER THIS MONTH THERE IS A PLETHORA OF YELLOW FLAGS ON THE HORIZON AMONG THEM A SHARP DROP IN THE DOW JONES UTILITY AVERAGE AN OVERHEATED MARKET FOR NEWSTOCK ISSUES AND AGGRESSIVE SELLING OF STOCK BY CORPORATE INSIDERS ALL THAT SUGGESTS TO SOME TECHNICAL ANALYSTS THAT EVEN THE SLIGHTEST WHIFF OF BAD NEWS COULD BLOW AWAY THE BUOYANT MARKET FOR STOCKS I AM AFRAID OF THIS MARKET SAYS RICKY T HARRINGTON TECHNICAL ANALYST AT INTERSTATE/JOHNSON LANE IN CHARLOTTE NC THERE IS RISK IN THIS MARKET AND EVERY DAY THE RISK IS RISING YET LIKE SO MANY TECHNICAL ANALYSTS TODAY MR HARRINGTON LACKS THE CONVICTION TO BE THE KIND OF DYEDINTHEWOOL BEAR HE WAS IN 1987 IT'S DIFFICULT TO STAND UP TO THE PLATE AND SAY THIS IS THE END OF THE BULL MARKET HE SAYS STILL HE SEES A NUMBER OF REASONS TO BE CAUTIOUS AND THE MOST VISIBLE ONE IS THE RECENT SELLOFF IN THE UTILITY AVERAGE SINCE HITTING A PEAK OF 25646 IN MIDSEPTEMBER THE INDEX OF 15 UTILITY STOCKS HAS SLUMPED FALLING 123 AND EVEN AS BOND PRICES RALLIED LAST TUESDAY ON BETTERTHANEXPECTED INFLATION NEWS THE UTILITY AVERAGE SANK SUGGESTING TO SOME THAT INTEREST RATES ARE HEADED HIGHER THE TRANSPORTS AND INDUSTRIALS ARE STRONG BUT UNDER THAT YOU HAVE THE UTILITY AVERAGE AND BOND MARKET WHICH ARE RELATIVITY WEAK MR HARRINGTON SAYS THOUGH MR HARRINGTON SAYS THE DIVERGENCE BETWEEN THE TWO ISN'T AS ACUTELY BEARISH AS IT WAS IN THE FALL OF 1987 THE DISCREPANCY MAKES ME THINK WE ARE IN THE MATURE STAGES OF THE BULL MARKET NEVERTHELESS HE ISN'T STAYING AWAY FROM UTILITY STOCKS WHICH HE THINKS LOOK ATTRACTIVE AFTER THEIR RECENT DRUBBING AMONG HIS FAVORITE PICKS ARE ATLANTA GAS LIGHT CAROLINA POWER & LIGHT AND SCANA ALSO ON HIS BUYING MENU ARE OIL INDUSTRY STOCKS SUCH AS SMITH INTERNATIONAL AND GLOBAL MARINE AND PRECIOUSMETALS SHARES THOUGH MR HARRINGTON SEES VALUES IN THESE GROUPS ONE AREA HE IS HARDPRESSED TO FIND BARGAINS IN IS THE BUBBLING MARKET FOR NEWSTOCK ISSUES ONLY LAST WEEK BOSTON CHICKEN A BARELY PROFITABLE RESTAURANT CHAIN CAME TO MARKET AND SIZZLED TO A 143 GAIN THE BIGGEST OPENINGDAY LEAP OF ANY INITIAL PUBLIC OFFERING IN THE PAST TWO YEARS THIS NEWISSUE MARKET HAS NOT BEEN HOT FOR JUST ONE MONTH BUT FOR ONE YEAR OR SO SAYS MR HARRINGTON ADDING THAT THIS IS ANOTHER WORRISOME SIGN ABOUT THE TECHNICAL HEALTH OF THE MARKET WHAT CONCERNS ME IS THAT THE PUBLIC HAS FALLEN SO MUCH IN LOVE WITH THE STOCK MARKET AND THE REASON THEY HAVE IS THAT THERE IS NO ALTERNATIVE SURPRISINGLY THE SPECULATIVE SENTIMENT THAT MR HARRINGTON SO CLEARLY SEES IN TODAY'S MARKET ISN'T VISIBLE TO MANY OTHER ANALYSTS WHO VIEW THE INVESTMENT LANDSCAPE AS SOMEWHAT CONFUSING BECAUSE OF THE PESSIMISM AMONG STOCK INVESTORS THOMAS GALLAGHER HEAD OF INSTITUTIONAL EQUITIES AT OPPENHEIMER SAYS HE IS BOTHERED BY THE WEAKNESS IN THE UTILITY AVERAGE AND BY THE FACT THAT EVEN AS THE INDUSTRIAL AVERAGE IS TRYING TO MAKE ANOTHER STAB AT A RECORD FEWER AND FEWER STOCKS ARE HITTING NEW HIGHS BUT WHAT MAKES MR GALLAGHER HESITATE BEFORE PLACING BIG BEARISH BETS ON THE MARKET IS THE PESSIMISM OF INVESTORS WHICH IN THE SOMETIMES PARADOXICAL REALM OF TECHNICAL ANALYSIS IS VIEWED AS BULLISH THE LOGIC IS THAT ONLY BEARISH INVESTORS ARE STILL HOLDING ON TO CASH THAT COULD POTENTIALLY POWER THE MARKET HIGHER THE LATEST SENTIMENT SURVEY FROM INVESTORS INTELLIGENCE A NEWSLETTER THAT TRACKS MARKET SENTIMENT AMONG 140 INVESTMENT ADVISERS SHOWED THAT 356 OF THOSE SURVEYED ARE BULLISH ON THE MARKET WHILE 398 ARE BEARISH THE INCREASED BEARISHNESS STARTED A COUPLE OF WEEKS AGO WHEN EVERYBODY STARTED TO WORRY ABOUT THE BREAK IN THE DOW JONES UTILITY AVERAGE SAYS MICHAEL BURKE EDITOR OF THE NEWSLETTER THESE ARE THE KIND OF READINGS THAT WE SEE AT THE END OF MARKET CORRECTIONS INSTEAD OF AT MARKET TOPS OTHER ANALYSTS SAY THAT ALTHOUGH THEY ARE QUEASY ABOUT THE MARKET THEY THINK IT'S TOO EARLY TO HEAD FOR THE EXITS THE IPO MARKET IS A LITTLE TROUBLESOME CONCEDES LASZLO BIRINYI WHO HEADS A FINANCIAL SERVICES FIRM THAT BEARS HIS NAME IF I WERE TO SEE A COUPLE MORE BOSTON CHICKENS I'D WONDER STILL ON BALANCE MR BIRINYI THINKS THE STOCK MARKET IS IN DECENT TECHNICAL SHAPE HE RATTLES OFF A LONG LIST OF FACTORS THAT ARE LIKELY TO FAVOR HIGHER STOCK PRICES IN THE COMING MONTHS FOR INSTANCE DESPITE LAST WEEK'S SLOWDOWN IN MUTUAL FUND INFLOWS CASH LEVELS AT STOCK FUNDS ARE STILL ABUNDANT WHAT'S MORE MR BIRINYI SAYS HIS FIRM FOUND IN A RECENT SURVEY THAT INDIVIDUALS HAD INCREASED THEIR MONEY IN CHECKING ACCOUNTS BY 22 IN THE 12 MONTHS ENDED JUNE 1993 AND DECREASED THEIR HOLDINGS OF CERTIFICATES OF DEPOSIT BY 5 THE CONTENTION THAT ALL THESE MATURING CDS HAVE ALREADY GONE INTO MUTUAL FUNDS IS NOT BORNE OUT BY THE FACTS HE SAYS ANOTHER REASSURING SIGN IS THAT ONLY ONE STOCK GROUP THE AUTO SECTOR HAS BEEN RACING CONSISTENTLY HIGHER WITH VERY FEW OTHER STOCK GROUPS SHOWING BIG GAINS MR BIRINYI SAYS THERE IS AMPLE POTENTIAL FOR STOCKS TO RALLY EVEN ANALYSTS LIKE AC MOORE A TECHNICAL ANALYST AND PORTFOLIO STRATEGIST AT SBCM/ARGUS IN SANTA BARBARA CALIF SAY THAT ALTHOUGH THERE ARE POWERFUL REASONS TO BE BEARISH THE OVERWHELMING BODY OF TECHNICAL INDICATORS FAVORS HIGHER STOCK PRICES MONETARY INDICATORS ARE STILL FLASHING GO TRADING VOLUME IS STILL MOVING STOCK PRICES HIGHER PSYCHOLOGY IS NEUTRAL AND TRENDING POSITIVE AND THE NUMBER OF GROUPS PARTICIPATING IN THE RALLY OR THE SOCALLED BREADTH OF THE MARKET IS ENCOURAGING HE SAYS AND OTHER ANALYSTS ARGUE THAT WHILE THERE WILL SOON BE REASONS TO BE NERVOUS ABOUT STOCKS NOW IS NOT THE TIME THIS IS KIDDIE STUFF SAYS RALPH ACAMPORA DIRECTOR OF TECHNICAL ANALYSIS AT PRUDENTIAL SECURITIES THESE GUYS WHO WANT TO SEE EXCESSIVE SPECULATION HAVE TO GO BACK TO THE 60S TO FIND IT MR ACAMPORA CONCEDES THE MARKET FOR INITIAL PUBLIC OFFERINGS IS HEATING UP BUT HE WARNS IT WILL GET WORSE BEFORE IT'S OVER STOCK PRICES CLIMBED BRISKLY ON LOWER INTEREST RATES AND FRESH SIGNS THAT THE ECONOMY IS PICKING UP THE DOW JONES INDUSTRIAL AVERAGE JUMPED 2208 POINTS TO 368451 IN HEAVY TRADING STANDARD & POOR'S 500STOCK INDEX GAINED 275 TO 46539 AND THE NASDAQ COMPOSITE INDEX EDGED UP 034 TO 77932 A LIVELY RALLY IN AIRLINE STOCKS PUSHED THE DOW JONES TRANSPORTATION AVERAGE UP 1709 POINTS TO 175207 A NEW HIGH STOCKS WERE BUOYED BY A COMMERCE DEPARTMENT REPORT THAT SHOWED US RETAIL SALES ROSE 15 IN OCTOBER THE LARGEST INCREASE SINCE APRIL ALSO HELPING STOCKS WAS A RALLY IN THE BOND MARKET WHICH PUSHED THE YIELD ON THE TREASURY'S 30YEAR BOND TO 615 FROM 620 WEDNESDAY US BOND MARKETS WERE CLOSED THURSDAY FOR VETERANS DAY VOLUME ON THE BIG BOARD SWELLED TO 3223 MILLION SHARES FROM 2838 MILLION THURSDAY ADVANCING ISSUES OUTNUMBERED DECLINERS 1200 TO 856 FOR THE WEEK THE INDUSTRIAL AVERAGE CLIMBED 11 THE S&P 13 AND THE NASDAQ COMPOSITE 21 PARAMOUNT COMMUNICATIONS EDGED UP 1/2 TO 83 WITH BELLSOUTH'S BACKING MARKET PLAYERS EXPECT QVC NETWORK TO SWEETEN ITS 96 BILLION OFFER FOR PARAMOUNT QVC SANK 2 1/8 TO 49 5/8 AND BELLSOUTH DROPPED 1 1/8 TO 56 1/2 PHILIP MORRIS JUMPED 2 1/4 TO 59 IN HEAVY TRADING IN A SIGN THAT THE CIGARETTE PRICE WARS ARE NEARING AN END THE COMPANY ADVISED DISTRIBUTORS LATE THURSDAY THAT IT WOULD INCREASE THE WHOLESALE PRICE OF ITS CIGARETTES FOUR CENTS A PACK EFFECTIVE TODAY OTHER TOBACCO STOCKS ALSO CLIMBED ON THE NEWS RJR NABISCO ADDED 1/8 TO 7 LOEWS 1 1/8 TO 96 3/4 AND AMERICAN BRANDS 1 TO 35 3/8 AFTER THE COMPANY'S AMERICAN TOBACCO UNIT BOOSTED THE PRICE OF ITS PREMIUM AND DISCOUNT BRANDS BY FOUR CENTS A PACK TELEFONOS DE MEXICO'S AMERICAN DEPOSITARY RECEIPTS SURGED 2 TO 55 5/8 INVESTORS WERE BIDDING UP THE ISSUE ON EXPECTATIONS THAT THE MEXICAN TELEPHONE CONCERN WOULD BENEFIT FROM THE PASSAGE OF THE NORTH AMERICAN FREE TRADE AGREEMENT A VOTE ON NAFTA IS SET FOR THIS WEEK DREYFUS SOARED 3 5/8 TO 46 1/4 OPPENHEIMER ANALYST STEVEN EISMAN UPGRADED THE MUTUAL FUND COMPANY'S SHARES TO MARKET PERFORMER FROM UNDERPERFORMER THE MOVE COMES A DAY AFTER THE COMPANY SAID IT HAS HELD BUT TERMINATED TALKS WITH A POSSIBLE MERGER PARTNER BELIEVED TO MELLON BANK OF PITTSBURGH BEST BUY TUMBLED 4 7/8 TO 49 5/8 AND CIRCUIT CITY STORES LOST 1 1/8 TO 26 DONALDSON LUFKIN & JENRETTE LOWERED ITS NEARTERM RATINGS ON BOTH STOCKS TO NEUTRAL 9311150150 931115 ATLANTIC CITY ELECTRIC CREDIT RATINGS ARE CUT NEW YORK MOODY'S INVESTORS SERVICE INC SAID IT DOWNGRADED CREDIT RATINGS OF ATLANTIC CITY ELECTRIC CO NOTING FUTURE PRESSURE ON THE COMPANY'S EARNINGS AND DEBTPROTECTION MEASUREMENTS ATLANTIC CITY ELECTRIC'S SENIOR SECURED DEBT RATING WAS DOWNGRADED TO SINGLEA3 FROM SINGLEA2 A MOVE AFFECTING ABOUT 1 BILLION IN SECURITIES FIRST MORTGAGE BONDS SECURED POLLUTIONCONTROL REVENUE BONDS AND SECURED MEDIUMTERM NOTES ALSO WERE DOWNGRADED TO A3 FROM A2 MOODY'S ALSO LOWERED RATINGS ON THE UTILITY'S PREFERRED STOCK AND COMMERCIAL PAPER MOODY'S CITED ANTICIPATED SLUGGISH GROWTH IN ENERGY SALES ON FLAT ELECTRIC RATES AND RATE BASES AS A KEY FACTOR IN THE DOWNGRADE ATLANTIC CITY ELECTRIC'S FINANCIAL FLEXIBILITY WILL BE INADEQUATE TO PROTECT IT FROM THE STRESS ASSOCIATED WITH ITS SIZABLE CONSTRUCTION PROGRAM AND CERTAIN FINANCIAL OBLIGATIONS IT SAID IN THE LONG RUN IT ADDED CONTINUED FINANCIAL STABILITY DEPENDS ON WHETHER MANAGEMENT WILL BE SUCCESSFUL IN DEALING WITH ESCALATING COMPETITIVE CHALLENGES BEYOND THE TRADITIONAL ELECTRIC UTILITY BUSINESS OFFICIALS AT ATLANTIC CITY ELECTRIC A SUBSIDIARY OF ATLANTIC ENERGY INC OF PLEASANTVILLE NJ COULDN'T BE REACHED 9311150149 931115 FAILURE GROUP FORECASTS LOSS MENLO PARK CALIF FAILURE GROUP INC SAID IT EXPECTS TO REPORT A LOSS OF 10 CENTS TO 14 CENTS A SHARE FOR THE SECOND QUARTER ENDING NOV 26 WITH REVENUE DECLINING 5 TO 10 FROM A YEAR EARLIER FAILURE GROUP A CONSULTING FIRM THAT INVESTIGATES INSTANCES OF ENGINEERING FAILURE BLAMED INCREASED COMPETITION AND COSTCONSCIOUSNESS ON THE PART OF ITS CLIENTS A YEAR EARLIER THE COMPANY POSTED A PROFIT OF 803000 OR 10 CENTS A SHARE ON REVENUE OF 159 MILLION 9311150148 931115 POLITICS & POLICY US MANUFACTURERS SLOWED INVESTMENTS IN MEXICO LAST YEAR BY LUCINDA HARPER STAFF REPORTER OF THE WALL STREET JOURNAL WASHINGTON US MANUFACTURERS INCREASED THE NUMBER OF NEW INVESTMENT PROJECTS ABROAD IN 1992 BUT SHARPLY CURBED SUCH VENTURES IN MEXICO AN ERNST & YOUNG SURVEY SUGGESTS THE REPORT FOUND THAT US FACTORIES STARTED 709 PROJECTS ABROAD IN 1992 COMPARED WITH 659 IN 1991 AN 8 INCREASE HOWEVER THE NUMBER OF NEW PROJECTS IN MEXICO A POPULAR INVESTMENT SITE IN 1991 DROPPED 43 TO 32 ERNST & YOUNG PARTNER SCOTT HILL ATTRIBUTED THE SLOWDOWN IN MEXICO PROJECTS TO CONCERN ABOUT THE NORTH AMERICAN FREE TRADE AGREEMENT EITHER US COMPANIES ARE WAITING UNTIL THE VOTE ON THE NORTH AMERICAN FREE TRADE AGREEMENT OR THEY ARE RELUCTANT TO ANNOUNCE THEIR MEXICAN INVESTMENT ACTIVITIES BECAUSE OF POLITICAL SENSITIVITY MR HILL SAID THE HOUSE IS SCHEDULED TO VOTE WEDNESDAY ON NAFTA MR HILL ALSO NOTED THAT INVESTMENT IN MEXICO MAY HAVE RISEN TO AN UNSUSTAINABLY HIGH PACE IN 1991 BECAUSE MEXICO'S FOREIGNINVESTMENT LAWS WERE CHANGED TO ALLOW FOREIGN MAJORITY OWNERSHIP OF ENTERPRISES THERE FOR THE FIRST TIME IN MANY YEARS US COMPANIES MAY HAVE RUSHED TO TAKE ADVANTAGE OF THE RESULTING NEW OPPORTUNITIES THE STUDY FOUND THAT EUROPE WAS THE MOST POPULAR SITE FOR OVERSEAS INVESTMENT PROJECTS BY US MANUFACTURERS TAKING MORE THAN HALF THE NEW PROJECTS LAST YEAR CHINA AND CZECHOSLOVAKIA SHOWED SIGNIFICANT INCREASES IN THE AMOUNT OF INVESTMENT THEY ATTRACTED CHEMICAL AND FOOD COMPANIES WERE THE MOST FREQUENT INVESTORS ABROAD MOST JOINT VENTURES WERE IN ASIA MAINLY BECAUSE CULTURAL AND ECONOMIC DIFFERENCES WITH THE US MAKE THE JOINTVENTURE APPROACH DESIRABLE THE STUDY SUGGESTED COMPANIES BASED IN NEW YORK ILLINOIS CALIFORNIA PENNSYLVANIA AND CONNECTICUT ACCOUNTED FOR MORE THAN HALF THE PROJECTS ANNOUNCED IN 1992 DESPITE THE INCREASE IN THE NUMBER OF PROJECTS THE AMOUNT OF MONEY FLOWING FROM THE US AND MANY OTHER COUNTRIES INTO FOREIGN PROJECTS HAS DECREASED 9311150147 931115 BANQUE NATIONALE DE PARIS PARIS BANQUE NATIONALE DE PARIS THE RECENTLY PRIVATIZED FRENCH RETAIL BANK SAID IT SOLD ITS 333 SHAREHOLDING IN BANCA CASSANY ONE OF ANDORRA'S SIX BANKS TO CATALUNA FINANCIERA TERMS WEREN'T DISCLOSED A BNP OFFICIAL SAID THE DIVESTITURE IS IN LINE WITH THE BANK'S NEW POLICY OF NOT HAVING MINORITY INTERESTS IN ITS FINANCIAL PORTFOLIO CATALUNA FINANCIERA WHICH IS ALSO BASED IN ANDORRA IS 33 OWNED BY CAJA CATALUNA A BARCELONABASED FINANCIAL GROUP 9311150146 931115 SKANDIA SEEKS BANKING PERMIT STOCKHOLM SWEDISH INSURANCE GROUP FOERSAEKRINGS AB SKANDIA FORMALLY APPLIED TO THE SWEDISH GOVERNMENT FOR PERMISSION TO OPERATE A BANK AND SAID IT EXPECTS TO BEGIN BANKING OPERATIONS EARLY IN 1994 UNDER THE NAME SKANDIABANKEN BY ESTABLISHING A BANK SKANDIA WILL SUPPLEMENT ITS NONLIFE INSURANCE LIFE ASSURANCE AND PENSION SAVINGS OPERATIONS WITH DEPOSIT AND LOAN ACCOUNT BANKING SERVICES IT SAID SKANDIABANKEN WILL HAVE CAPITAL RESOURCES AMOUNTING TO 100 MILLION SWEDISH KRONOR 122 MILLION 9311150145 931115 MARKETERS EXPLOIT PEOPLE'S FEARS OF EVERYTHING BY KATHLEEN DEVENY STAFF REPORTER OF THE WALL STREET JOURNAL FLAMES ROAR THROUGH A LOVELY HOME MELTING A SILENT SMOKE DETECTOR INTO A TWISTED GLOB THE MESSAGE IN THE RECENT TELEVISION COMMERCIAL ONE THIRD OF ALL SMOKE ALARMS HAVE DEAD BATTERIES THE SALES PITCH THE PINK ENERGIZER BUNNY SILENTLY THUMPS ACROSS THE SCREEN IT MAY SOUND LIKE A GHOULISH SATIRE BUT THE COMMERCIAL FROM RALSTONRALSTON PURINA GROUP'S EVEREADY BATTERY UNIT IS JUST ONE OF DOZENS THAT IMPART A FRIGHTENING WARNING TERRIBLE THINGS HAPPEN TO GOOD PEOPLE PEOPLE JUST LIKE YOU MARKETERS NOWADAYS SEEM INCREASINGLY WILLING TO SELL THEIR PRODUCTS BY PLAYING ON CONSUMERS' ANXIETIES AND THEIR ADVERTISING HAS BECOME SCARIER AND MORE GRAPHIC AN AD FOR FIRST ALERT CARBON MONOXIDE DETECTORS FLASHES PHOTOS OF REAL PEOPLE WHO DIED OF CARBON MONOXIDE POISONING WHILE A WOMAN TELLS HOW HER HUSBAND CARRIED A GRAINY PICTURE OF THEIR DEAD DAUGHTER IN HIS WALLET FOR 21 YEARS A MAILING FROM LOVING CHOICE BABY PRODUCTS URGES CONSUMERS TO BUY ITS HOWTO CHILD CPR VIDEO NOW BEFORE IT'S TOO LATE AND VOLVO IS RUNNING PRINT AND TV ADS THAT SHOW REAL PEOPLE WHO BELIEVE THEY SURVIVED TERRIBLE CAR CRASHES BECAUSE THEY WERE DRIVING VOLVOS THE SHRILL STRATEGY UNDOUBTEDLY STEMS FROM THE SENSE THAT MANY AMERICANS HAVE NEVER BEEN MORE AFRAID PEOPLE TODAY DESPERATELY WANT TO PROTECT THEMSELVES AGAINST THE WORLD SAYS DR CAROL MOOG A PSYCHOLOGIST AND ADVERTISING CONSULTANT AT CREATIVE FOCUS IN BALA CYNWYD PA NEVER MIND THAT LIFE EXPECTANCY IS CREEPING UPWARD WHILE THE INCIDENCE OF HOME ACCIDENTS INCLUDING FIRES POISONINGS AND FALLS STEADILY DECLINES PEOPLE ARE BOMBARDED WITH ACCOUNTS OF TRAGEDIES INVOLVING EVERYTHING FROM VIOLENT CARJACKINGS TO THE CANCERCAUSING DANGER OF ELECTROMAGNETIC FIELDS THE LEVEL OF ANXIETY AMONG CONSUMERS IS EXTRAORDINARILY HIGH SAYS MYRA STARK SENIOR VICE PRESIDENT AND DIRECTOR OF CREATIVE RESEARCH AT SAATCHI & SAATCHI ADVERTISING IN NEW YORK IN ADDITION TO PHYSICAL THREATS SHE SAYS MANY PEOPLE ARE FEELING VULNERABLE BECAUSE OF THE ECONOMIC SLUMP AND LAYOFFS IN CORPORATE AMERICA MARKETERS OF CONSUMER PRODUCTS HAVE RAISED THE SPECTER OF BAD FORTUNE IN THE PAST ALBEIT MORE CAUTIOUSLY KELLOGG CO'S ALLBRAN CEREAL ADS STARTLED PEOPLE NEARLY A DECADE AGO BY CITING LINKS BETWEEN A HIGHFIBER DIET AND THE PREVENTION OF CANCER EVEN MENTIONING THE WORD CANCER WAS CONSIDERED RISKY BECAUSE ADVERTISERS BELIEVED CONSUMERS DIDN'T WANT TO BE REMINDED OF DEATH ANDREW LANGER CHIEF EXECUTIVE OFFICER OF LOWE & PARTNERS SMS SPARKED A DEBATE IN 1974 WITH WHAT MAY HAVE BEEN THE FIRST SLICEOFDEATH AD TAME BY TODAY'S STANDARDS THE AD SHOWED A MAN PLAYED BY A YOUNG JOHN TRAVOLTA REMINISCING ABOUT HIS DAD ON HIS WAY TO WORK IN A SHOP THE FATHER IT TURNED OUT HAD DIED WITHOUT AMASSING ENOUGH SAVINGS TO PUT HIS SON THROUGH COLLEGE IT WAS VERY CONTROVERSIAL AT THE TIME BUT SO WAS THE SHOW ALL IN THE FAMILY' MR LANGER SAYS ADVERTISING HAS CHANGED BECAUSE THE WAY WE VIEW THE WORLD HAS CHANGED MARKETERS TODAY CLAIM THEIR SCARY ADVERTISING IS MORE A PUBLIC SERVICE THAN A SALES TACTIC BRK ELECTRONICS INC WHICH SAYS IT CAN'T KEEP UP WITH DEMAND FOR ITS FIRST ALERT CARBON MONOXIDE DETECTOR NOTES THAT IT TESTED THE ADS WITH CONSUMERS AND CONCLUDED THAT MOST WOULDN'T BE OFFENDED A MORE STRAIGHTFORWARD EDUCATIONAL EXECUTION OF THE AD JUST DIDN'T CATCH CONSUMERS' ATTENTION ACCORDING TO RICHARD F TIMMONS MARKETING DIRECTOR FOR THE FIRST ALERT LINE THE COMPANY DECIDED TO USE REAL PEOPLE IN THE ADS TO MAKE VIEWERS REALIZE THAT CARBON MONOXIDE POISONING COULD ALSO HAPPEN TO THEM TO BUILD INTEREST IN ITS FIRST ALERT CARBON MONOXIDE DETECTOR BRK ELECTRONICS BEGAN A PUBLIC RELATIONS CAMPAIGN IN JUNE POINTING OUT THAT THE COLORLESS ODORLESS GAS KILLS 1500 AMERICANS ANNUALLY THE NATIONAL SAFETY COUNCIL HOWEVER ESTIMATES 400 AMERICANS DIE EACH YEAR OF POISONING BY GAS OR VAPORS REGARDLESS OF THE CONFLICTING STATISTICS CAN YOU SAY WE'VE GONE TOO FAR IF EVEN ONE BABY WOULD BE BORN WITHOUT BIRTH DEFECTS MR TIMMONS SAYS EXPOSURE TO CARBON MONOXIDE HAS BEEN ASSOCIATED WITH BIRTH DEFECTS INDEED MANY MARKETERS PLAY ON PEOPLE'S FEELINGS OF PROTECTIVENESS ABOUT CHILDREN LOVING CHOICE BABY PRODUCTS A UNIT OF TRANSAMERICA MAILINGS INC IN CLEVELAND CONTENDS THAT THE BENEFITS OF THE CHILD CPR VIDEO IT DISTRIBUTES OUTWEIGH CONCERNS THAT THE MAILINGS ARE MANIPULATIVE THERE IS A REALLY VALID REASON FOR KNOWING CPR LIKE SAVING YOUR CHILD'S LIFE SAYS AVVY KATZ PRESIDENT OF TRANSAMERICA MARKETING EXPERTS SAY IT'S THE USE OF REAL PEOPLE THAT MAKES SOME OF THE ADS SEEM SO OMINOUS CAR ADS HAVE LONG SHOWN IMAGES OF DUAL AIR BAGS AND CRASH DUMMIES SURVIVING WRECKS BUT TELEVISION ADS FOR VOLVO ADS FEATURE IDYLLIC IMAGES OF REAL PEOPLE INCLUDING A WOMAN AND HER TWO CHILDREN AND A MAN SHOOTING BASKETS WITH HIS SON AS HAUNTING CHOIR MUSIC PLAYS THE DATE OF THE NEARFATAL ACCIDENT APPEARS SUPERIMPOSED OVER EACH PORTRAIT THE POINT IS NOT TO BE SCARY SAYS BOB SCHMETTERER A PARTNER WITH MESSNER VETERE BERGER MCNAMEE SCHMETTERER THE AD AGENCY FOR VOLVO CARS OF NORTH AMERICA MR SCHMETTERER POINTS OUT THAT THE SURVIVORS CONTACTED VOLVO AND THAT THEY AREN'T PAID TO APPEAR IN THE SPOTS THE REALITY HE SAYS IS THAT EVERY MANUFACTURER IS TALKING ABOUT SAFETY IN A VERY POIGNANT WAY OTHER ADS STRIKE A CHORD BY GRAPHICALLY DEPICTING JUST HOW MUCH VIEWERS HAVE TO LOSE A RECENT COMMERCIAL FROM THE ALLSTATE INSURANCE UNIT OF ALLSTATE CORP SHOWS THE WRECKAGE OF A RECENTLY BURNEDOUT HOUSE AS MOURNFUL CELLO MUSIC PLAYS IN THE BACKGROUND THE CAMERA LINGERS ON MELTED TOYS AND A TELEVISION REMOTE CONTROL DEVICE THAT IS STILL SMOLDERING BEFORE FOCUSING ON THE REAL PROBLEM A SMOKE DETECTOR WITH NO BATTERIES ALLSTATE SAYS IT TESTED THE AD WITH CONSUMERS AND DIDN'T RECEIVE ANY NEGATIVE COMMENTS AT THE END OF THE COMMERCIAL WE WANTED PEOPLE TO GET UP AND CHECK THEIR SMOKE DETECTORS SAYS TERRE TUZZOLINO ALLSTATE'S ASSISTANT VICE PRESIDENT OF CORPORATE RELATIONS BUT SCARE TACTICS DON'T ALWAYS MAKE FOR COMPELLING ADVERTISING SOME MARKETING EXPERTS SAY THE ENERGIZER BATTERY ADS RISK OFFENDING SOME CONSUMERS AND DR MOOG OF CREATIVE FOCUS SAYS THE AD HAS OTHER PROBLEMS AS WELL THE INTERIOR OF THE HOUSE DOESN'T INCLUDE ANY PERSONAL ITEMS AND THE FIRE LOOKS FAKE BECAUSE IT STARTS TOO QUICKLY WARD KLEIN VICE PRESIDENT OF MARKETING FOR EVEREADY SAYS IT TESTED THE AD WITH CONSUMERS AND ASKED SPECIFICALLY IF PEOPLE THOUGHT THE SPOT WAS TOO THREATENING IN FACT MR KLEIN SAYS THE AD SCORED HIGH IN RATINGS FOR LIKABILITY AND SOME MARKETERS SAY CONSUMERS ARE SO INTERESTED IN SAFETY THESE DAYS THEY AREN'T PUT OFF BY FRIGHTENING ADVERTISING SAFETY ZONE A WHITE PLAINS NY COMPANY THAT DISTRIBUTES A CATALOG OF SAFETY PRODUCTS SAYS PEOPLE EVEN GIVE MANY OF ITS PRODUCTS AS CHRISTMAS GIFTS AMONG THE ITEMS TURNING UP UNDER CHRISTMAS TREES PERSONAL ALARMS AND SMOKE DETECTORS CAMOUFLAGED AS TREE ORNAMENTS MELANIE LEE WHO COFOUNDED THE COMPANY WITH HER HUSBAND ALSO BELIEVES A NEW PRODUCT CALLED SAFETMAN IS BEING PURCHASED AS A GIFT SAFETMAN IS A SIMULATED MALE WHO SITS IN THE PASSENGERSEAT OF A CAR TO SCARE TROUBLEMAKERS AWAY DR CAROL MOOG PSYCHOLOGIST AND ADVERTISING CONSULTANT IN BALA CYNWYD PA ANALYZED SOME RECENT ADVERTISEMENTS THAT USE SCARE TACTICS COMMERCIAL SHOWS WRECKAGE OF BURNEDOUT HOUSE AND URGES VIEWERS TO CHECK THEIR SMOKE DETECTORS' BATTERIES COMMENT TRULY FRIGHTENING HERE YOU SEE ALL THE DETAILS OF A PERSON'S LIFE DESTROYED ALL OF IT IS STILL RECOGNIZABLE IT'S LIKE A BRILLIANTLY SHOT HORRORFILM SCENE THE MONSTER HAS LEFT THE ROOM AND YOU ARE LOOKING AT THE BLOOD DRIPPINGS IT IS AS IF THE ROOM HAD BEEN A LIVING ORGANISM AND YOU ARE WITNESSING ITS DEATH TELEVISION AD FOR ITS CARBON MONOXIDE DETECTOR FEATURES SNAPSHOTS OF REAL PEOPLE WHO DIED FROM CARBON MONOXIDE POISONING NARRATED BY PEOPLE WHO HAVE LOST LOVED ONES COMMENT WE SEE TWO CARING PEOPLE AND ONLY ONE WILL DIE THIS PLAYS ON SURVIVOR GUILT HE DIDN'T PROTECT PATTI EACH OF THE PHOTOS CLEARLY EVOKES SOMEONE WHO WAS ENJOYING LIFE AND THEN WAS ELIMINATED THESE ARE ALL NICE PEOPLE WE SEE A TEENAGE BOY IN A FOOTBALL UNIFORM THAT BEARS THE TEAM NAME ANGELS HE WAS SOMEBODY'S ANGEL EVEN IF YOU REALIZE YOU ARE BEING MANIPULATED IT STILL WORKS PRINT AD FEATURING PICTURES OF PEOPLE WHO BELIEVE THEY SURVIVED TERRIBLE AUTO ACCIDENTS BECAUSE THEY WERE DRIVING A VOLVO THE DATE OF THE ACCIDENT APPEARS WITH EACH PORTRAIT COMMENT THE STRATEGY MIGHT HAVE BEEN TO HAVE YOU THINK THAT ALL THESE PEOPLE DIED BUT AT THE END OF THE AD LO AND BEHOLD YOU FIND OUT THEY HAVE BEEN SAVED BY VOLVO THE WORDING AT THE END THE PEOPLE ON THE PRECEDING PAGES ALL SHARE A COMMON BELIEF MAKES IT SOUND LIKE VOLVO IS SKIRTING AROUND A LEGAL ISSUE THAT DOESN'T CUT IT IN PSYCHOLOGICAL TERMS 9311150144 931115 SIX COMPANIES WIN PENTAGON CONTRACTS FOR COMPUTER WORK THE DEFENSE DEPARTMENT SAID IT HAS NAMED SIX COMPANIES TO IMPROVE STANDARDIZATION AMONG ITS COMPUTER AND INFORMATION SYSTEMS THE FIRSTYEAR TOTAL VALUE OF THE CONTRACTS IS 10 MILLION BUT THE PENTAGON SAID THE MAXIMUM VALUE OF ITS DEFENSE TECHNICAL INTEGRATION SERVICES PROGRAM OVER SEVEN YEARS COULD BE 935 MILLION VENDORS RECEIVING THE CONTRACTS INCLUDE INFORMATIONSERVICES UNITS OF BOEING CO COMPUTER SCIENCES CORP MARTIN MARIETTA CORP AND UNISYS CORP OTHERS ARE BDM ENGINEERING A HOLDING OF THE CARLYLE GROUP AND ELECTRONIC DATA SERVICES CORP A UNIT OF GENERAL MOTORS CORP IN A LETTER LAST MONTH TO DEFENSE DEPARTMENT AGENCIES DEPUTY SECRETARY OF DEFENSE WILLIAM J PERRY ORDERED THE MOVE AND SAID THE QUICKER ESTABLISHMENT OF STANDARD PROCESSES AND SYSTEMS IS THE KEY TO CONTAINING COSTS UNDER CONSTRAINED BUDGETS WE NEED TO GET ON WITH THE JOB MR PERRY SAID 9311150143 931115 WHO'S NEWS STRATUS COMPUTER SAYS FREIBURGHOUSE RESIGNED FROM FIRM MARLBOROUGH MASS STRATUS COMPUTER CORP SAID ROBERT FREIBURGHOUSE VICE PRESIDENT AND GENERAL MANAGER OF ITS TELECOMMUNICATIONS DIVISION RESIGNED A SPOKESMAN SAID MR FREIBURGHOUSE DIDN'T DISCLOSE HIS PLANS STRATUS ALSO SAID THAT PAUL JONES VICE PRESIDENT ENGINEERING WAS TRANSFERRED TO HEAD UP A SMALLER GROUP WORKING ON DISTRIBUTED COMPUTING THE MOVES WERE ANNOUNCED FRIDAY WHEN GARY HAROIAN EXECUTIVE VICE PRESIDENT WAS NAMED PRESIDENT AND CHIEF OPERATING OFFICER THE 42YEAROLD MR HAROIAN WHO HAS A BACKGROUND IN ACCOUNTING ALSO WILL TAKE OVER MR JONES'S DUTIES WHILE STRATUS SEARCHES FOR A NEW ENGINEERING CHIEF MR FREIBURGHOUSE 52 YEARS OLD WAS ONE OF THE COFOUNDERS OF STRATUS ALONG WITH WILLIAM FOSTER CHAIRMAN AND CHIEF EXECUTIVE MR FOSTER ALSO HAD HELD THE TITLE OF PRESIDENT BEFORE MR HAROIAN IN 1990 MR FREIBURGHOUSE TOOK CHARGE OF THE TELECOMMUNICATIONS GROUP WHICH SELLS STRATUS'S FAULTTOLERANT COMPUTERS THE GROUP'S SALES HAVE BEEN AMONG THE STRONGEST FOR STRATUS HIS LEAVING ISN'T GOOD NEWS SAID SHAO WANG AN ANALYST WITH SMITH BARNEY SHEARSON OF MR FREIBURGHOUSE'S DEPARTURE IN NEW YORK STOCK EXCHANGE COMPOSITE TRADING STRATUS ROSE 50 CENTS TO 27875 9311150142 931115 INTERNATIONAL CHINA ENDORSES ENACTING SWIFT MARKET REFORM COMMUNIST PARTY SOFTENS CENTRAL PLANNING LINE SIGNALS FOR PRIVATIZATION BY JULIA LEUNG AND KATHY CHEN STAFF REPORTERS OF THE WALL STREET JOURNAL HONG KONG CHINA'S COMMUNIST PARTY CENTRAL COMMITTEE ENDORSED SPEEDY TRANSITION TO A MARKET ECONOMY PAVING THE WAY FOR A RAFT OF ECONOMIC REFORMS NEXT YEAR A COMMUNIQUE ISSUED AT THE CONCLUSION OF A SESSION SUNDAY SAID THERE WILL BE NEW BREAKTHROUGHS AND CONCRETE PLANS IN THE AREAS OF BANKING TAXATION INVESTMENT AND FOREIGN TRADE GIVING IDEOLOGICAL SUPPORT TO THESE REFORMS THE STATEMENT ENDORSED THE MARKET AS THE FUNDAMENTAL FACTOR AND FURTHER DEEMPHASIZED CENTRAL PLANNING MORE THAN 300 RANKING LEADERS FROM THE CENTRAL AND PROVINCIAL PARTY ORGANIZATIONS GATHERED IN BEIJING FOR THE FOURDAY SESSION THE MEETING WAS WIDELY REGARDED AS BEIJING'S MOST SWEEPING ATTEMPT IN RECENT YEARS TO ADDRESS CHINA'S ECONOMIC ISSUES THE LATEST OVERHEATING OF THE ECONOMY AND VICE PREMIER ZHU RONGJI'S LIMITED SUCCESS WITH REINING IT IN HAS CONVINCED THE TOP LEADERSHIP THAT SPEEDY CHANGE IS NECESSARY ECONOMISTS SAY MANY OFFICIALS BLAME THE PIECEMEAL REFORM ADOPTED OVER THE PAST 15 YEARS FOR CHINA'S BOOMBUST ECONOMIC CYCLES AS WITH SIMILAR STATEMENTS IN THE PAST SUNDAY'S COMMUNIQUE DEALT MOSTLY WITH ABSTRACT IDEOLOGICAL ISSUES SUCH AS THE DEFINITION OF THE SOCIALIST MARKET ECONOMIC SYSTEM WHICH CHINA CALLS ITS HYBRID ECONOMY THE STATEMENT NONETHELESS PROVIDES THE STRONGEST SIGNAL YET THAT CHINA IS ABOUT TO ENTER ANOTHER PERIOD OF LOOSER RESTRAINTS THE FOURMONTHOLD AUSTERITY PROGRAM IMPOSED BY VICE PREMIER ZHU IS ALL BUT DEAD THE COMMUNIQUE IS A POSITIVE DOCUMENT IT'S CLEARLY AN ENDORSEMENT FOR THE NEXT STEP OF MORE FARREACHING ECONOMIC REFORMS SAID HUAN GUOCANG AN ECONOMIST WITH JP MORGAN & CO IN HONG KONG IN THE PAST THE ROLE OF CENTRAL PLANNING HAD ALWAYS BEEN EMPHASIZED IN SUCH HISTORIC SESSIONS BUT SUCH A REFERENCE WAS CONSPICUOUSLY ABSENT IN SUNDAY'S STATEMENT ON THE POLITICALLY CONTENTIOUS SUBJECT OF PRIVATIZATION THE DOCUMENT SAID PUBLIC OWNERSHIP SHOULD CONTINUE TO BE THE MAINSTAY OF THE ECONOMY BUT SIGNALLED THAT THE WAY IS CLEAR FOR LARGESCALE PRIVATIZATION BY URGING THE DEVELOPMENT OF MULTIPLE ECONOMIC SECTORS AND MODERN ENTERPRISE SYSTEM ECONOMISTS SAY STILL SOME NOTE THAT THE PARTY DOCUMENT STILL EMPHASIZES A SOCIALIST MARKET ECONOMY PUBLIC OWNERSHIP AND PARTY LEADERSHIP SO IT'S STILL VERY MUCH A COMMUNIST DOCUMENT SAYS TSANG SHUKI A SENIOR LECTURER IN ECONOMICS AT HONG KONG BAPTIST COLLEGE IT DOESN'T LOOK LIKE THE PARTY WILL LET GO CONTROL OF MANAGING THE ECONOMY WHILE MANY ECONOMISTS APPLAUD THE LOFTY GOALS OF THE REFORMS MANY WORRY THAT CHINA COULD SPIN INTO ANOTHER FRENZY OF STOCK AND PROPERTY SPECULATION BEFORE EFFECTIVE MARKET LEVERS CAN BE ESTABLISHED THE DANGER IS THAT PARTY CALLS FOR FASTER ECONOMIC GROWTH MIGHT BE REGARDED BY MANY PROVINCIAL OFFICIALS AS THE GREENLIGHT FOR RESUMPTION OF RECKLESS BORROWING AND FREEWHEELING WAYS LEADING TO EVEN MORE PRONOUNCED BOOMBUST CYCLES THE PARTY DOCUMENT IS SHORT ON DETAILS OF PLANNED REFORMS BUT LEAKS TO BEIJINGCONTROLLED NEWSPAPERS IN HONG KONG INDICATE THE MEASURES WILL INCLUDE TAX REFORM BEIJING IS PUSHING AHEAD WITH A NEW TAXSHARING SYSTEM THAT WOULD REQUIRE THE PROVINCES TO PAY MORE TO THE CENTRAL GOVERNMENT BEGINNING NEXT YEAR LOCAL GOVERNMENT CURRENTLY RECEIVES ROUGHLY 70 OF TOTAL TAXES COLLECTED WITH THE BALANCE TO BE HELD BY THE CENTRAL GOVERNMENT BEIJING HAS SAID IT AIMS AT GETTING MORE THAN 60 UNDER THE NEW SYSTEM BUT IT ISN'T CLEAR WHETHER PROVINCIAL LEADERS HAVE AGREED MEANWHILE PROFIT TAXES ON CHINESE ENTERPRISES WILL BE REDUCED TO 33 FROM 55 A NEW VALUEADDED TAX TO BE LEVIED ON THE VALUE OF A PRODUCT AT VARIOUS STAGES OF PRODUCTION AND SALES WILL REPLACE THE CONSOLIDATED INDUSTRIAL AND COMMERCIAL TAX CURRENTLY IMPOSED ON FOREIGN FIRMS OPERATING IN CHINA BANKING REFORM BEIJING WOULD CREATE THREE BANKS TO SUPPORT INDUSTRIAL AGRICULTURAL AND INFRASTRUCTURAL PROJECTS THAT MAY NOT BE COMMERCIALLY VIABLE BUT ARE CRUCIAL TO NATIONAL ECONOMIC DEVELOPMENT THE IDEA IS TO FREE THE COUNTRY'S COMMERCIAL BANKS OF THIS POLITICAL BURDEN FOREIGNEXCHANGE SYSTEM REFORM BEIJING WOULD ABOLISH ITS OFFICIAL EXCHANGE RATE AND MAKE ITS CURRENCY PARTIALLY CONVERTIBLE IN THE NEAR FUTURE IN A MOVE TO EVENTUALLY MAKE THE CURRENCY CONVERTIBLE IN TERMS OF MERCHANDISE TRADE 9311150140 931115 WITNESS SAYS KHAN DIDN'T JOIN SCHEME AGAINST BRITISH GAS BY GAUTAM NAIK STAFF REPORTER OF THE WALL STREET JOURNAL NEW YORK IN THE CONTINUING COURTROOM SAGA OF ICN PHARMACEUTICALS INC A WITNESS ALLEGED THAT STOCKBROKER RAFI M KHAN DID NOT FILE MULTIPLE SHARE APPLICATIONS AS PART OF A SCHEME TO CHEAT THE BRITISH GOVERNMENT EARLIER LAST WEEK A COUSIN OF MR KHAN HAD TESTIFIED THAT THE STOCKBROKER ATTEMPTED TO ILLEGALLY FILE SEVERAL SHARE APPLICATIONS DURING BRITISH GAS PLC'S EFFORTS TO GO PRIVATE IN 1986 BUT ON FRIDAY ANOTHER WITNESS ENGLISH BUSINESSMAN PETER J MCGILL SAID THAT TO HIS KNOWLEDGE RAFI WAS NOT INVOLVED IN SUCH A SCHEME MR MCGILL HAS KNOWN RAFI KHAN SINCE CHILDHOOD AND HAD EMPLOYED THE COUSIN TAHIR KHAN EARLIER IN THE WEEK TAHIR KHAN ALLEGED THAT RAFI KHAN HAD MASTERMINDED THE PLOT AND A SCOTLAND YARD DETECTIVE SAID RAFI KHAN WAS WANTED FOR QUESTIONING IN THE UK AS PART OF AN INVESTIGATION RELATING TO THE BRITISH GAS SCANDAL TAHIR KHAN HAD PAID A FINE OF 1500 FOR HIS INVOLVEMENT IN FILING OF MULTIPLE SHARE APPLICATIONS RAFI KHAN HOWEVER WAS NOT CHARGED RAFI KHAN A MINORITY SHAREHOLDER IS SEEKING TO OUST ICN'S MANAGEMENT FOR WHAT HE CLAIMS IS ITS IMPROPER HANDLING OF THE COMPANY'S AFFAIRS ICN A DRUG COMPANY IN COSTA MESA CALIF HAS SOUGHT TO BLOCK HIS EFFORTS THROUGH THE COURTS MR KHAN FACES POTENTIALLY DAMAGING DISCLOSURES RELATING TO HIS ACTIVITIES AT ICN AND HIS ACTIVITIES RELATING TO OTHER COMPANIES WHOSE STOCKS HE HAS PROMOTED FRIDAY'S HEARINGS SUGGESTED THAT A LONGBREWING FAMILY FEUD BETWEEN THE COUSINS MAY HAVE EMERGED AS A KEY ISSUE IN THE BATTLE OVER ICN MR MCGILL SAID THAT TAHIR KHAN WAS BITTER BECAUSE RAFI KHAN AND HIS FAMILY HAD MOVED TO THE US AND LEFT HIM BEHIND IN ENGLAND AND IN AN INTERVIEW AFTER THE HEARINGS RAFI KHAN CLAIMED THAT TAHIR KHAN HAD A HATRED FOR HIS SUCCESS OUTSIDE THE COURTROOM RAFI KHAN SUGGESTED THAT HIS DEFENSE IN SUBSEQUENT HEARINGS WOULD BE TO SHOW THAT HE WASN'T IN THE UK WHEN THE ALLEGED PLOT WAS HATCHED WHERE I WAS IS A MATTER OF RECORD FOR MY PASSPORT TO SHOW MR KHAN SAID HE WAS CONFIDENT THAT HIS ATTEMPT TO OUST ICN'S MANAGEMENT WHICH INCLUDES FORMER YUGOSLAVIA PRIME MINISTER MILAN PANIC WON'T BE HURT BY THE ALLEGATIONS MADE AGAINST HIS REPUTATION WHETHER HIS SIDE WINS OR NOT I HAVE REPEATEDLY MADE MONEY FOR MY CLIENTS HE SAID ULTIMATELY THE 20 INSTITUTIONAL INVESTORS WHOSE SUPPORT HE WOULD NEED TO OUST THE MANAGEMENT WILL VOTE WITH THEIR WALLETS 9311150139 931115 TECHNOLOGY & HEALTH EXIBM WORKER SUES ALLEGES PRESSURE TO USE SEX TO WIN CONTRACTS SANTA MONICA CALIF A FORMER MARKETING REPRESENTATIVE FOR INTERNATIONAL BUSINESS MACHINES CORP ALLEGED IN A LAWSUIT THAT THE COMPANY AND TWO OF HER SUPERVISORS THERE FORCED HER TO RESUME A SEXUAL RELATIONSHIP WITH A SENIOR DEFENSE DEPARTMENT OFFICIAL IN ORDER TO SECURE FEDERAL FUNDING FOR THE COMPANY THE SUIT WAS FILED IN SUPERIOR COURT IN LOS ANGELES BY VERONICA GUNTHER A FORMER AIR FORCE PROJECT MANAGER WHO JOINED IBM IN EARLY 1988 AS A MARKETING REPRESENTATIVE IBM SAID IT HAD RECEIVED A COPY OF THE SUIT BUT DECLINED TO COMMENT THE PETITION ALLEGED THAT MS GUNTHER BEFORE JOINING IBM HAD WORKED AT THE AIR FORCE'S MANUFACTURING AND TECHNOLOGY DIVISION AT WRIGHT PATTERSON AIR FORCE BASE IN OHIO UNDER THE SUPERVISION OF GARY DENMAN NOW THE DIRECTOR OF THE PENTAGON'S ADVANCED RESEARCH PROJECTS AGENCY OR ARPA THE AGENCY WAS KNOWN AS THE DEFENSE ADVANCED RESEARCH PROJECTS AGENCY UNTIL THE CLINTON ADMINISTRATION CHANGED ITS NAME THIS YEAR AND MADE IT THE BUREAUCRATIC CENTERPIECE OF ITS MULTIBILLIONDOLLAR DEFENSECONVERSION EFFORTS THE SUIT ALLEGED THAT WHILE MS GUNTHER WORKED AS A PROJECT MANAGER FOR THE AIR FORCE MR DENMAN SEDUCED HER THEN ABUSED AND PUBLICLY DEGRADED AND HUMILIATED HER IN 1988 THE PETITION SAID SHE FINALLY DEVELOPED ENOUGH COURAGE TO ESCAPE AND MOVED TO LOS ANGELES TO WORK FOR IBM MR DENMAN WAS TRAVELING OVER THE WEEKEND SAID A PERSON ANSWERING THE TELEPHONE AT HIS HOME AND HE COULDN'T BE REACHED A PENTAGON SPOKESWOMAN SAID MR DENMAN WOULD RESERVE COMMENT UNTIL HE HAS REVIEWED THE SUIT A TOP ARPA OFFICIAL SAID THE AGENCY WOULDN'T COMMENT UNTIL MR DENMAN AND OTHER OFFICIALS HAVE SEEN THE SUIT MS GUNTHER ASSERTED THAT MANAGERS AT HER NEW JOB PRESSURED HER TO USE HER PAST RELATIONSHIP WITH MR DENMAN TO ADVANCE IBM INTERESTS AND TO FIND A WAY AROUND THE NORMAL GOVERNMENT PROCUREMENT CYCLE SHE SAID IN THE SUIT THAT SHE HAD TOLD HER MANAGER ABOUT HER RELATIONSHIP WITH MR DENMAN IN THE HOPES THAT SHE WOULD NO LONGER BE FORCED TO MAINTAIN CONTACT WITH HIM IN 1992 SHE ALLEGED IBM WAS DESPERATE TO SECURE SOME OF THE BILLIONS OF DOLLARS THAT WERE BEGINNING TO POUR INTO THE AGENCY'S BUDGET FOR DEFENSECONVERSION WORK THAT IS FUNDS INTENDED TO HELP DEFENSEORIENTED COMPANIES LEARN TO FIND BUSINESS OUTSIDE THE DEFENSE SECTOR IN THE SUMMER OF 1992 THE SUIT SAID HER MANAGER AT IBM MADE IT CLEAR TO HER THAT HER CONTINUED EMPLOYMENT DEPENDED ON USING AND MAINTAINING HER RELATIONSHIP WITH MR DENMAN IN AUGUST OF LAST YEAR IN AN ACT OF DESPERATION SHE WENT TO BED WITH DR DENMAN IN EXCHANGE FOR HIS PROMISE TO GET IBM INTO HIS FUNDING CHANNEL THE SUIT STATED AND THE NEXT DAY IT SAID TALKS BEGAN BETWEEN MR DENMAN AND IBM EXECUTIVES HER MANAGER SUBSEQUENTLY TOLD HER THAT IN ORDER TO BE A SUCCESSFUL IBM MARKETING REPRESENTATIVE SHE WOULD HAVE TO BE A PROSTITUTE THE SUIT CHARGED THE MANAGER RAY BLONN COULDN'T BE REACHED FOR COMMENT THE EVENTS LED TO TWO SUICIDE ATTEMPTS BY MS GUNTHER AND HER ADMISSION TO A PSYCHIATRIC HOSPITAL AND TO IBM'S EFFORTS TO GET HER TO AGREE TO LEAVE THE COMPANY THE SUIT SAID THE LAWSUIT SEEKS UNSPECIFIED GENERAL AND PUNITIVE DAMAGES 9311150138 931115 CANADA TO AUCTION BONDS PROCEEDS OF THE ISSUE WILL BE USED FOR GENERAL GOVERNMENT PURPOSES 9311150137 931115 ENTERPRISE GOVERNMENT WATCH SMALL BUSINESS BOOSTS LOBBYING FOR NAFTA AS VOTE NEARS BY JEANNE SADDLER STAFF REPORTER OF THE WALL STREET JOURNAL SMALL BUSINESS STEPS UP LOBBYING ON NAFTA AS HOUSE VOTE APPROACHES INDEPENDENT BUSINESS OWNERS HAVE BEEN FAR LESS VOCAL ON THE TRADE ISSUE THAN BIG CORPORATIONS AND POLLS SHOW VERY SMALL COMPANIES ARE ALMOST EQUALLY DIVIDED ON THE PACT BUT THE LARGER SMALL CONCERNS TEND TO SUPPORT THE PACT AND THEY ARE NOW PROMOTING IT MORE AGGRESSIVELY BOYD BERENDS CHAIRMAN OF PROGRESSIVE TECHNOLOGY IN LIGHTING INC A HOLLAND MICH MAKER OF FLUORESCENT LIGHTING FIXTURES SAYS HE HELPED PERSUADE HIS CONGRESSMAN REPUBLICAN REP PETER HOEKSTRA TO SUPPORT THE NORTH AMERICAN FREE TRADE AGREEMENT IN THE VOTE EXPECTED WEDNESDAY MR BERENDS SAYS HE KEPT IN CLOSE TOUCH WITH THE LAWMAKER AFTER TRAVELING TO WASHINGTON EIGHT TIMES THIS YEAR TO LOBBY FOR THE PACT HE WAS ON THE FENCE MR BERENDS RECALLS BUT I KEPT TALKING TO HIM LAST WEEK REP HOEKSTRA ANNOUNCED THAT HE WILL VOTE FOR THE PACT A HOEKSTRA AIDE SAYS SMALLBUSINESS INTERESTS WERE PART OF THE REASON THE CONGRESSMAN DECIDED TO BACK NAFTA A RECENT INFORMAL SURVEY OF SMALL CONCERNS IN HIS WESTERN MICHIGAN DISTRICT SHOWED THEY SUPPORT THE AGREEMENT BY MORE THAN 3 TO 1 HE WAS A BIT SURPRISED BY THE NUMBER OF SMALL BUSINESSES WHO THOUGHT THEY'D BENEFIT THE AIDE SAYS PRESIDENT CLINTON IS EXPECTED TO ADDRESS SMALLBUSINESS NAFTA SUPPORTERS AT THE WHITE HOUSE THIS MORNING BEFORE THEY BEGIN A LOBBYING BLITZ ON CAPITOL HILL THE SMALLBUSINESS BACKING COULD HELP MR CLINTON IN HIS UPHILL BATTLE TO WIN HOUSE PASSAGE OF NAFTA THE SUPPORTERS NOW LOBBYING CONGRESS ARE TRYING TO COUNTER CHARGES THAT NAFTA WILL SEND JOBS TO MEXICO MR BERENDS SAYS HE TOLD REP HOEKSTRA THAT IF NAFTA PASSES HE WILL CREATE MORE JOBS IN THE US AND MEXICO AND CLOSE AN ASSEMBLY PLANT HE NOW RUNS IN CHINA HE SAYS THE TARIFFS AND PAPERWORK HAVE KEPT HIM FROM DOING MORE BUSINESS WITH MEXICO EVEN THOUGH IT IS CLOSER THAN CHINA STEPHEN NUNN PRESIDENT OF MAECOR INTERNATIONAL LTD A SANDSTON VA COMPANY THAT SELLS COMMERCIAL FOODPROCESSING EQUIPMENT HAS LOBBIED FOR NAFTA WITH VIRGINIA REPS THOMAS BLILEY JR A REPUBLICAN AND ROBERT SCOTT A DEMOCRAT MR NUNN SAYS HE HAS TOLD THE LAWMAKERS THAT MEXICO AND LATIN AMERICA ARE HIS MAIN MARKETS BECAUSE THERE ARE FEW SMALL MEATPROCESSING FACILITIES LEFT IN THE US REP BLILEY ALREADY BACKS THE TRADE AGREEMENT BUT REP SCOTT REMAINS OPPOSED CHARLES SINUNU INTERNATIONAL SALES MANAGER FOR ELLICOTT MACHINE CORP IN BALTIMORE SAYS HE IS TELLING LAWMAKERS THAT NAFTA WOULD HELP HIM GET MORE EXPORT BUSINESS IN MEXICO ENABLING HIM TO HIRE AND TRAIN MORE MACHINISTS AND OTHER SKILLED WORKERS IN THE US WE HAVE NO INTEREST IN GOING DOWN TO MEXICO WE EXPORT 80 OF OUR PRODUCT HE SAYS TOBY MALICHI WHO HEADS A SMALL INDIANAPOLIS BROKERING COMPANY THAT ARRANGES BUSINESS DEALS ABROAD SAYS THAT IT'S A TOUGH BATTLE TO GET LAWMAKERS TO FOCUS ON THE DIFFERENCE BETWEEN BIG CORPORATIONS AND SMALL BUSINESSES BUT LAST WEEK'S TELEVISED DEBATE BETWEEN VICE PRESIDENT AL GORE AND ROSS PEROT GAVE NAFTA PROPONENTS SOME MOMENTUM HE ADDS NAFTA HAS SOME SMALLBUSINESS OPPONENTS SMALL CONTRACTORS ARE COMMON IN THE RETAILCLOTHING INDUSTRY AND THE NATIONAL KNITWEAR AND SPORTSWEAR ASSOCIATION SAYS NAFTA WILL HURT COMPANIES THAT DON'T USE MEXICAN LABOR THE FACT THAT JOBS ARE GOING OVERSEAS ANYWAY DOESN'T MATTER SAYS SETH BODNER THE GROUP'S EXECUTIVE DIRECTOR AS THE VOTE NEARS THE PACT IS PICKING UP MORE SMALLBUSINESS SUPPORT LAST WEEK THE NATIONAL ASSOCIATION OF WOMEN BUSINESS OWNERS ANNOUNCED IT BACKS THE TRADE DEAL A HOUSE BILL WOULD RESTORE A TAX DEDUCTION ENDED FOR SOME HOME OFFICES OWNERS OF SOME HOMEBASED BUSINESSES HOPE THAT CONGRESS SOON WILL RESTORE A TAX BREAK KILLED BY THE SUPREME COURT EARLIER THIS YEAR NEBRASKA DEMOCRATIC REP PETER HOAGLAND HAS INTRODUCED A BILL TO REVERSE THE COURT'S DECISION IN COMMISSIONER VS SOLIMAN FOR A COMPANY TO QUALIFY FOR THE DEDUCTION THE COURT HELD CUSTOMERS MUST PHYSICALLY VISIT A HOME OFFICE AND THE BUSINESS MUST GENERATE ITS INCOME THERE THE DECISION ENDED THE TAX BREAK FOR A VARIETY OF BUSINESSPEOPLE INCLUDING MANY INDIVIDUAL SALES REPRESENTATIVES HOME REMODELERS PLUMBERS AND RURAL VETERINARIANS BEFORE THE RULING A COMPANY QUALIFIED FOR THE DEDUCTION IF THE HOME OFFICE WAS USED EXCLUSIVELY FOR THE BUSINESS THERE WAS NO OTHER OFFICE AND THE COMPANY PRODUCED ENOUGH INCOME TO COVER THE DEDUCTION THE BILL WOULD KEEP THOSE REQUIREMENTS AND ALSO SAY THAT ACTIVITIES SUCH AS BOOKKEEPING BILLING AND SOLICITING BUSINESS ARE LEGITIMATE ACTIVITIES FOR PURPOSES OF THE DEDUCTION REP HOAGLAND SAYS THE GOAL IS TO MAKE THE LAW SIMPLE AND FAIR WITHOUT CREATING TAX LOOPHOLES THE NATIONAL ASSOCIATION FOR THE SELFEMPLOYED IS LEADING A COALITION OF TRADE GROUPS PUSHING FOR THE MEASURE HOUSE PROPONENTS SAY THEY HOPE TO PASS THE BILL THIS YEAR A COMPANION SENATE BILL IS EXPECTED TO BE INTRODUCED SOON SALES SLOW FOR LOANS GUARANTEED BY THE SMALL BUSINESS ADMINISTRATION SBA OFFICIALS SAY THE SLOWDOWN BEGAN IN SEPTEMBER AND OCTOBER THE FIRST TWO MONTHS AFTER THE AGENCY IMPOSED A NEW FEE ON THOSE LOANS AFTER LENDERS SELL THEM TO INVESTORS THERE ARE FEWER LOANS IN THE PIPELINE PARTLY BECAUSE MOST LENDERS SOLD THEM BY AUG 31 JUST BEFORE THE CHANGES TOOK EFFECT BUT MANY IN THE INDUSTRY SAY THE MARKET ALSO IS ADJUSTING TO THE RULES AND LENDERS NEED TIME TO DECIDE WHEN AND HOW IT IS BEST TO SELL THE GUARANTEES FOR EXAMPLE IF THE GOVERNMENTGUARANTEED PORTION OF A LOAN IS SOLD AT NO MORE THAN 10 ABOVE ITS FACE VALUE THE LENDER KEEPS THE PROFIT BUT IF IT IS SOLD FOR MORE THAN 10 ABOVE ITS FACE VALUE THE LENDER HAS TO SPLIT THE PREMIUM WITH THE GOVERNMENT EVEN AFTER SPLITTING THE ADDITIONAL PREMIUM LENDERS FIND THAT SALES OF SBABACKED LOANS ARE STILL VERY PROFITABLE SAYS LARRY MARTIN HEAD TRADER FOR GOVERNMENT SECURITIES CORP OF DALLAS AN AGENT THAT PURCHASES THE LOANS NEW ADVOCATE WASHINGTON LAWYER JERE GLOVER IS PRESIDENT CLINTON'S CHOICE TO HEAD THE SBA'S OFFICE OF ADVOCACY ACCORDING TO PEOPLE CLOSE TO THE ADMINISTRATION MR GLOVER WAS CHAIRMAN OF THE PRESIDENT'S CAMPAIGN TASK FORCE ON SMALL BUSINESS AND SERVED AS DEPUTY CHIEF COUNSEL FOR ADVOCACY DURING THE CARTER ADMINISTRATION IN HIS PRIVATE PRACTICE HE HAS REPRESENTED THE NATIONAL ASSOCIATION FOR THE SELFEMPLOYED AND OTHER SMALLBUSINESS ORGANIZATIONS SMALL TALK PENNSYLVANIA DEMOCRATIC REP PAUL KANJORSKI PLANS TO INTRODUCE A MEASURE THIS WEEK TO RAISE 15 BILLION FOR A FEDERAL TECHNOLOGYTRANSFER INVESTMENT FUND BY CREATING A NEW TAX ON COMPANIES THAT NOW USE A LOOPHOLE TO AVOID US TAXES ON THEIR IMPORTED PRODUCTS 9311150136 931115 AOKI NEARS END OF WESTIN HOTEL SALE BIDS SAID TO FALL SHORT OF ASKING PRICE BY PAULINE YOSHIHASHI STAFF REPORTER OF THE WALL STREET JOURNAL AOKI CORP OF JAPAN IS IN THE FINAL STAGES OF AUCTIONING OFF MOST OR ALL OF ITS WESTIN HOTELS & RESORTS A HIGHEREND HOTEL CHAIN THAT HAS ATTRACTED A HOST OF FINANCIAL BIDDERS AND INDUSTRY PLAYERS INTERESTED IN RESTORING ITS LUSTER DETAILS OF THE FINAL BIDS HAVEN'T BEEN REVEALED BUT PEOPLE CLOSE TO THE SITUATION SAY THE COMPLEX OFFERS ARE WELL BELOW AOKI'S ORIGINAL ASKING PRICE OF ABOUT 700 MILLION WITH THE HIGHEST BIDS IN EXCESS OF 500 MILLION AFTER SHOPPING THE CHAIN AROUND ASIA THIS SPRING AOKI EXPANDED THE SEARCH FOR BIDDERS AND EARMARKED FOR SALE WESTIN'S NORTH AMERICAN ASSETS WHICH INCLUDE 52 PROPERTIES IN THE US MEXICO AND CANADA AOKI A TOKYO CONSTRUCTION COMPANY PAID 153 BILLION IN 1988 TO BUY THE CHAIN FROM ALLEGIS CORP THEN THE PARENT OF UNITED AIR LINES AOKI TEAMED UP WITH A GROUP LED BY BILLIONAIRE INVESTOR ROBERT M BASS AS WELL AS INDUSTRIAL BANK OF JAPAN LTD WHICH PROVIDED MUCH OF THE FINANCING THE INVESTORS QUICKLY SOLD OFF THE WESTIN MAUNA KEA IN HAWAII TO JAPAN'S SEIBU GROUP FOR 325 MILLION AND THE PLAZA IN NEW YORK TO DEVELOPER DONALD TRUMP FOR ABOUT 410 MILLION ENDING THE BASS GROUP'S INVOLVEMENT IN THE TRANSACTION BUT AOKI BOUGHT WESTIN JUST BEFORE THE US HOTEL INDUSTRY WENT INTO A TAILSPIN BROUGHT ON BY OVERBUILDING AND THE RECESSION AOKI HASN'T DEVELOPED THE CHAIN VERY AGGRESSIVELY SINCE THE ACQUISITION AND IS SAID TO BE UNDER PRESSURE FROM ITS BANKERS TO SELL IT MOST OF THE WESTIN NORTH AMERICA HOTELS ARE RUN UNDER MANAGEMENT CONTRACTS WITH AOKI AND WESTIN HAVING A MAJORITY STAKE IN JUST 10 OF THE PROPERTIES AND A MINORITY STAKE IN FIVE OTHERS WESTIN BASED IN SEATTLE OPERATES 73 HOTELS IN 16 COUNTRIES WITH 36800 ROOMS IT'S UNCLEAR WHETHER THE FINAL BIDDER WILL ACQUIRE DEVELOPMENT RIGHTS FOR ASIA AND SOUTH AMERICA OR ANY OF AOKI'S OTHER HOTEL ASSETS WHICH WERE NOT INITIALLY OFFERED AS PART OF THE SALE PACKAGE MICHAEL HOFFMAN A PARTNER WITH THE BLACKSTONE GROUP WHO IS ADVISING AOKI ON THE SALE DECLINED TO COMMENT BUT PEOPLE CLOSE TO THE SITUATION SAID EARLY ROUNDS OF BIDDING ATTRACTED ABOUT 20 DOMESTIC AND INTERNATIONAL PARTIES MANY OF THE BIDDERS HAVE SINCE DROPPED OUT BUT A FEW RESURFACED IN LATER ROUNDS THEY SAID AMONG THE BIDDERS IN RECENT WEEKS HAVE BEEN THE LEVERAGED BUYOUT FIRM KOHLBERG KRAVIS ROBERTS & CO WHARF HOLDINGS LTD OF HONG KONG A GROUP INCLUDING COLONY CAPITAL INC TEXAS PACIFIC GROUP AND HELLMAN & FRIEDMAN FORTE PLC OF LONDON WYNDHAM HOTELS & RESORTS INC OF DALLAS AND A UNIT OF LOEWS CORP OF NEW YORK PEOPLE CLOSE TO THE TALKS SAID OTHER PARTIES ARE SAID TO STILL BE INTERESTED BUT NO WINNER HAS BEEN ANNOUNCED SOME FRUSTRATED BIDDERS MEANWHILE WERE SKEPTICAL THAT AOKI WOULD ACCEPT ANY OF THE BIDS OFFICIALS AT KKR AND LOEWS DECLINED COMMENT FORTE OFFICIALS IN LONDON WERE UNREACHABLE AND OFFICIALS OF ITS NORTH AMERICAN DIVISION DIDN'T RETURN TELEPHONE CALLS FORTE ONE OF EUROPE'S LARGEST HOTEL RESTAURANT AND CONTRACTSERVICES CONCERNS OPERATES THE TRAVELODGE CHAIN AND OTHER PROPERTIES IN THE US LOEWS AND WYNDHAM BOTH OPERATE SMALLER FULLSERVICE CHAINS MOSTLY IN THE CONTINENTAL US SEVERAL BIDDERS AND INDUSTRY EXECUTIVES NOTED THAT WESTIN HAD ATTRACTED HIGHCALIBER SUITORS DESPITE THE SMALL AMOUNT OF REAL ESTATE INVOLVED AND OTHER COMPLICATING FACTORS SUCH AS EXPENSIVE DEFERRED MAINTENANCE IT ALSO SPEAKS TO LONGTERM OPTIMISM FOR THE HOTEL INDUSTRY WHICH IS WIDELY EXPECTED TO RETURN TO PROFITABILITY BY 1995 AFTER SEVERAL MONEYLOSING YEARS THE WESTIN BRAND HAS A GOOD IMAGE IN THE CONSUMER'S MIND AND WOULD HAVE BEEN A GOOD FIT WITH WYNDHAM RICHARD CARRINGTON WYNDHAM'S CHIEF FINANCIAL OFFICER SAID WYNDHAM AND THE COLONY GROUP SAY THEY BID ON THE CHAIN BUT DROPPED OUT OF THE AUCTION WHEN THEY FELT THAT COMPETING OFFERS EXCEEDED WHAT THEY WERE WILLING TO PAY MIRIAM JORDAN IN HONG KONG CONTRIBUTED TO THIS ARTICLE 9311150135 931115 INTERNATIONAL STOCKMARKET MERGER IN CHINA REFLECTS SHIFT FROM SOUTHERN TO NORTHERN MARKETS BY JOSEPH KAHN STAFF REPORTER OF THE WALL STREET JOURNAL SHANGHAI CHINA SHANGHAI SHENHUA INDUSTRIAL CORP ANNOUNCED SUNDAY THAT IT HAD ACCEPTED AS FRIENDLY THE ACQUISITION OF A MAJOR STAKE IN ITS OPERATIONS BY SHENZHEN VANKE CO COMPLETING CHINA'S FIRST STOCKMARKET MERGER THE MERGER DEMONSTRATED THE EAGERNESS OF COMPANIES BASED IN SHENZHEN A ONETIME FARMING VILLAGE NEAR HONG KONG THAT BECAME THE CENTERPIECE OF CHINA'S PIONEER EXPERIMENTS WITH CAPITALISM TO BREAK INTO LARGER MARKETS LIKE SHANGHAI ANALYSTS BELIEVE THE ENGINE OF CHINA'S ECONOMIC GROWTH WILL GRADUALLY SHIFT FROM SOUTHERN CHINA TO SHANGHAI BEIJING TIANJIN AND OTHER NORTHERN AND COASTAL CITIES ALLIANCES BETWEEN SOUTHERN COMPANIES AND THEIR NORTHERN COUNTERPARTS ARE LIKELY TO BECOME INCREASINGLY COMMON AS A WAY FOR SOUTHERN BUSINESSES TO CIRCUMVENT PROTECTIONIST LOCAL GOVERNMENT POLICIES THAT FAVOR LOCAL FIRMS OVER THOSE FROM OTHER REGIONS VANKE'S ALLIANCE WITH SHENHUA ALSO GIVES IT A BACK DOOR LISTING ON THE STOCK EXCHANGE IN SHANGHAI WHICH THE CHINESE GOVERNMENT HAS PROMOTED AS THE COUNTRY'S FUTURE FINANCIAL CENTER VANKE'S SUCCESS MAY PROMPT MANY OTHER CHINESE COMPANIES TO SEARCH FOR FRIENDLY PARTNERS OR TAKEOVER TARGETS WHICH HAVE ALREADY WON THE COVETED RIGHT TO ISSUE SHARES AT A JOINT PRESS CONFERENCE SUNDAY THE CHAIRMEN OF VANKE AND SHENHUA SAID VANKE'S PURCHASE OF 5 OF THE LISTED SHARES OF SHENHUA ACQUIRED ON THE OPEN MARKET AT A COST OF ABOUT 7 MILLION WOULD GIVE VANKE TWO SEATS ON SHENHUA'S BOARD THE TWO FIRMS SAID THEY WOULD ALSO EFFECTIVELY MERGE THEIR REALESTATE OPERATIONS IN SHANGHAI SOME 60 OF VANKE'S REALESTATE INVESTMENTS ARE ALREADY IN THE CITY VANKE'S ACQUISITION OF SHENHUA SHARES MARKS THE SECOND TIME A SHENZHEN COMPANY HAS SOUGHT TO BUY A MAJOR STAKE IN A SHANGHAI FIRM IN LATE SEPTEMBER SHENZHEN BAO AN ENTERPRISES PURCHASED 18 OF SHANGHAI YANZHONG INDUSTRIAL IN A HOSTILE BID BUT WAS FINED FOR EXCEEDING 5 WITHOUT MAKING A PUBLIC DECLARATION AS CHINA'S SECURITIES LAWS DEMAND WANG SHI VANKE'S CHAIRMAN SAID HIS COMPANY LAST APRIL RAISED 583 MILLION BY ISSUING B SHARES WHICH UNLIKE A SHARES ARE AVAILABLE TO FOREIGN INVESTORS ON THE SHENZHEN STOCK EXCHANGE HE SAID HE HAS USED A LARGE PART OF THAT MONEY TO HELP EXPAND OPERATIONS IN THE SHANGHAI REGION THE COMPANY HAS BEGUN A 5000 UNIT RESIDENTIAL DEVELOPMENT NEAR THE SHANGHAI AIRPORT AND CONTROLS SEVERAL OTHER PROPERTIES IN THE CITY SHANGHAI WILL BE THE DRIVING FORCE OF ECONOMIC DEVELOPMENT IN CHINA DURING THE REMAINDER OF THE 1990S AND INTO THE NEXT CENTURY MR WANG SAID THOUGH VANKE WAS FOUNDED AS A STATEOWNED ENTERPRISE AND MR WANG WAS APPOINTED BY THE COMPANY'S LARGEST SHAREHOLDER THE SHENZHEN GOVERNMENT HE MADE CLEAR THAT HE SAW LIMITED PROSPECTS FOR SHENZHEN'S CONTINUED GROWTH SHENZHEN WHICH BORDERS HONG KONG HAS GROWN FROM FARMLAND TO A CITY OF THREE MILLION WITH A SKYLINE OF GLASS TOWERS IN JUST MORE THAN A DECADE IT HAS CHINA'S MOST OPEN ECONOMY AND FOR A TIME ATTRACTED MUCH OF THE FOREIGN INVESTMENT FROM HONG KONG WHICH IT BORDERS BUT THE CITY HAS LOST SOME OF ITS LUSTER AND REALESTATE PRICES HAVE FALLEN AS INVESTORS MOVE INLAND AND UP THE COAST SHENZHEN IS NOTHING TO THE CENTRAL GOVERNMENT SAID RICHARD L YU THE HEAD OF VANKE'S INVESTMENT ARM AND MR WANG'S CHIEF SECRETARY THE AMERICANS FOR INSTANCE THEY ARE ONLY INTERESTED IN SHANGHAI AND BEIJING HOW CAN WE COOPERATE WITH THEM IF WE ARE ONLY IN SHENZHEN SHENHUA'S CHAIRMAN QU JIANGUO SAID HE WELCOMED VANKE'S STAKE IN HIS COMPANY AS A PROTECTIVE MEASURE HE SAID THAT HE FEARED THAT HIS AND MANY OTHER RELATIVELY SMALL SHANGHAI COMPANIES COULD BECOME EASY PREY FOR CHINESE FIRMS THAT LACK STOCKMARKET LISTINGS OF THEIR OWN MAYBE THERE ARE TOO MANY COMPANIES INTERESTED IN HOSTILE TAKEOVERS INSTEAD OF FRIENDLY MERGERS HE SAID WE LIKE VANKE BECAUSE OUR OPERATIONS FIT TOGETHER WELL SHENHUA IS A DIVERSIFIED COMPANY WITH TRANSPORTATION MANUFACTURING AND PROPERTY INVESTMENTS IT HAS ITS BASE IN THE PUDONG AREA OF SHANGHAI A NEW DEVELOPMENT ZONE THE CITY HOPES WILL ATTRACT MAJOR INTERNATIONAL CONGLOMERATES FROM AROUND THE WORLD VANKE'S REALESTATE PROJECTS ARE IN THE OLD SECTOR OF SHANGHAI CALLED PUXI MR WANG SUGGESTED THAT VANKE WILL BENEFIT FROM SHENHUA'S CONNECTIONS TO LOCAL GOVERNMENT OFFICIALS AS IT SEEKS TO EXPAND INTO PUDONG WE NEED TO FIND A WAY TO SOLVE THE PROBLEM OF THE CUSTOMS OF THE LOCAL GOVERNMENT TO PROTECT THE LOCAL COMPANIES HE SAID CHINESE REGULATORY AUTHORITIES HAVE NOT SOUGHT TO DISCOURAGE THE MERGER OF THE TWO FIRMS BOTH CHAIRMEN SAID A SHANGHAI SECURITIES EXCHANGE OFFICIAL SAID LAST WEEK THAT THE GOVERNMENT WOULD NOT INTERFERE AS LONG AS VANKE CONTINUED TO ABIDE BY DISCLOSURE LAWS MR WANG ALSO PROMISED THAT VANKE WILL NOT SELL ANY OF ITS SHARES IN SHENHUA IN THE IMMEDIATE FUTURE THE SHARES ROSE 50 WHEN VANKE'S 5 STAKE WAS ANNOUNCED LAST WEEK 9311150134 931115 NEW ZAGAT SURVEY FINDS NEW YORKERS ARE DINING OUT MORE AND PAYING LESS BY NEELA BANERJEE STAFF REPORTER OF THE WALL STREET JOURNAL NEW YORK FOR THE FIRST TIME SINCE THE RECESSION DINING OUT HERE IS ON THE RISE IN PART BECAUSE OF LOWER PRICES AT RESTAURANTS THE 1994 ZAGAT NEW YORK CITY RESTAURANT SURVEY FINDS THAT PEOPLE ARE EATING OUT 334 TIMES A WEEK ON AVERAGE UP FROM 307 TIMES LAST YEAR BUT STILL ANEMIC COMPARED WITH 1987 WHEN DINERS ATE OUT 37 TIMES A WEEK ON AVERAGE RESTAURANTS ARE VISIBLY BUSIER AND THE RESTAURATEURS ALL SAY THEY'RE DOING BETTER SAYS TIM ZAGAT WHO PUBLISHES THE SURVEY WITH HIS WIFE NINA THE SURVEY BASED ON THE COMMENTS OF 10637 VOLUNTEER CRITICS WHO VISITED 1350 DINING SPOTS AND DEGUSTED 185 MILLION MEALS INDICATED CONSUMPTION WAS UP MAINLY BECAUSE PRICES WERE DOWN MEAL PRICES TUMBLED 7 IN 1993 WITH THE AVERAGE TAB FOR A REVIEWER'S MEAL AT 3020 COMPARED WITH 3248 IN 1992 RESTAURANTS HAVE BUCKED ATTITUDE AND CULTIVATED HOSPITALITY RECENTLY BUT DINERS STILL GROUSE ABOUT INEPT BASIC SERVICE SOME BALKED AT NEW TRENDS SUCH AS BABIES AT DINNER AND THE RAMPANT USE OF CILANTRO AND POLENTA SOME RESTAURANTS HAVE SIMPLY TRIMMED PRICES TO WOO CUSTOMERS BACK THE AVERAGE COST OF A MEAL AMONG THE SURVEY'S 20 MOST POPULAR EATERIES FOR EXAMPLE FELL TO 5639 FROM 59 THE PREVIOUS YEAR THE PRICE DECLINE WAS DUE PRIMARILY TO THE GROWTH OF PRIXFIXE MEALS DISCOUNT CARDS AND OTHER ECONOMIZING MEASURES RESTAURANTS HAVE RESPONDED TO DEMAND FOR VALUE WITH A HOST OF MENU OPTIONS HALFPORTIONS FAMILYSTYLE DINING WHERE SINGLE DISHES FEED SEVERAL PEOPLE AND CHILDREN'S MENUS CHEAPER NEW EATERIES HAVE ALSO DAMPED PRICES THE NEWCOMERS HAVE BEEN LED BY COFFEE BARS SERVING FOCCACIA SANDWICHES AND ITALIAN COFFEES AT PRICES USUALLY BELOW 10 A VISIT MORE ETHNIC RESTAURANTS SERVE UP AUTHENTIC FARE WHILE KEEPING PRICES LOW BECAUSE THEY ARE OFTEN STOREFRONT FAMILYRUN OPERATIONS THE CITY REAPED AN UNEXPECTEDLY ABUNDANT HARVEST OF NEW RESTAURANTS OPENINGS OUTNUMBERED CLOSINGS 171 TO 68 NEVERTHELESS CLOSINGS WERE UP SHARPLY FROM LAST YEAR'S 45 AS THE LAST OF THE RECESSION SHUTTERED SOME OLD STANDBYS ONE NOTABLE CLOSURE WAS THE QUILTED GIRAFFE ONE OF THE CITY'S MOST EXPENSIVE RESTAURANTS GONE TOO ARE GIBBON LAFAYETTE AND SWEETS A SEAFOOD HOUSE IN BUSINESS SINCE 1842 THE WORLD TRADE CENTER'S CELLAR IN THE SKY AND WINDOWS ON THE WORLD RESTAURANTS CLOSED TEMPORARILY BECAUSE OF THE FEBRUARY BOMBING FOR THE THIRD STRAIGHT YEAR THE FRENCHAMERICAN BOULEY WALKED AWAY WITH THE HIGHEST POPULARITY RATINGS BOULEY WITH ITS NINECOURSE TASTING MENU WAS RATED 29 OF 30 FOR FOOD THE HIGHEST RATING EVER GIVEN IN THE SURVEY'S HISTORY UNION SQUARE CAFE AND AUREOLE SWITCHED PLACES FROM 1992 RANKING SECOND AND THIRD RESPECTIVELY THE MOST EXPENSIVE RESTAURANT IN TOWN IS LES CELEBRITES WHERE AN AVERAGE MEAL COSTS 70 GRAY'S PAPAYA WON TOP HONORS IN THE BANG FOR THE BUCK CATEGORY THE HEALTHJUICE AND HOTDOG FRANCHISE TIPS THE SCALES AT 5 9311150133 931115 CF INCOME PARTNERS SAYS ASSETSALE PACT HAS BEEN TERMINATED A WALL STREET JOURNAL ROUNDUP LOS ANGELES REALESTATE PARTNERSHIP CF INCOME PARTNERS INC SAID A 1825 MILLION PACT TO SELL MOST OF ITS ASSETS TO AMERICAN CONTINENTAL PROPERTIES GROUP HAS FALLEN THROUGH THE PARTNERSHIP TERMINATED THE TALKS A CF INCOME PARTNERS SPOKESWOMAN SAID AND IS DISCUSSING WITH ITS COUNSEL WHETHER THERE ARE ANY GROUNDS FOR LEGAL ACTION AGAINST AMERICAN CONTINENTAL A CLOSELY HELD INSTITUTIONAL REALESTATE INVESTOR CF INCOME PARTNERS SAID NOV 1 THAT THERE WAS UNCERTAINTY ABOUT COMPLETING THE PACT NEW YORKBASED AMERICAN CONTINENTAL HAD PROPOSED REVISIONS TO THE TERMS IN THE AGREEMENTS IN PRINCIPLE THE PARTNERSHIP SAID THE SPOKEWOMAN DIDN'T ELABORATE IN LIGHT OF THE FAILED SALE THE PARTNERSHIP SAID THERE COULD BE NO ASSURANCE OF A 1AUNIT LIQUIDATING DISTRIBUTION WHICH WAS CONTINGENT ON COMPLETION OF THE TRANSACTION THE DEAL'S UNRAVELING ALSO MAKES SETTLEMENT OF PENDING UNITHOLDER LITIGATION UNCERTAIN CF INCOME PARTNERS SAID THE PARTNERSHIP REITERATED THAT IT MIGHT HAVE TO FILE FOR BANKRUPTCY PROTECTION OR LIQUIDATE CF INCOME PARTNERS ALSO WILL SEEK OTHER BUYERS THE SPOKESWOMAN SAID 9311150132 931115 ROYAL OAK IS ORDERED TO SUBMIT NEW OFFER TO STRIKING MINERS OTTAWA THE CANADA LABOR RELATIONS BOARD SAID IT ORDERED ROYAL OAK MINES LTD TO SUBMIT A NEW CONTRACT OFFER INCLUDING A BACKTOWORK PROPOSAL TO STRIKING WORKERS AT ITS GIANT MINE IN YELLOWKNIFE NORTHWEST TERRITORIES THE LABOR BOARD RULED THAT ROYAL OAK A VANCOUVER BRITISH COLUMBIA GOLDMINING CONCERN FAILED TO BARGAIN IN GOOD FAITH IN CONTRACT NEGOTIATIONS WITH THE CANADIAN ASSOCIATION OF SMELTER AND ALLIED WORKERS WHICH REPRESENTS ABOUT 234 MINE EMPLOYEES IN PARTICULAR THE BOARD CRITICIZED ROYAL OAK'S REQUIREMENT AS A PRECONDITION OF BARGAINING THAT THERE BE NO INDEPENDENT ADJUDICATION FOR WORKERS DISCHARGED FOR PICKETLINE ACTIVITIES AND OTHER STRIKERELATED BEHAVIOR MINE EMPLOYEES HAVE BEEN ON STRIKE SINCE MAY 1992 ALTHOUGH THE COMPANY HAS CONTINUED OPERATIONS USING REPLACEMENT WORKERS THE VIOLENCEMARRED STRIKE CULMINATED IN AN UNDERGROUND EXPLOSION AT THE MINE IN SEPTEMBER 1992 WHICH KILLED NINE MINERS ONE UNION MEMBER HAS BEEN CHARGED IN CONNECTION WITH THE DEATHS ROYAL OAK SAID IT EXPECTS TO FILE AN APPEAL OF THE BOARD'S RULING WITHIN A WEEK TO 10 DAYS ON THE GROUNDS THAT IT BELIEVES THE BOARD EXCEEDED ITS JURISDICTION IT SAID IT HAD COMPLIED WITH THE ORDER BY SUBMITTING AN OFFER TO THE UNION BOB KOSTA SECRETARYTREASURER OF THE UNION LOCAL SAID THAT UNDER THE TERMS OF THE ORDER ROYAL OAK WILL HAVE TO SUBMIT A TENTATIVE AGREEMENT DATING BACK TO MAY 1992 ALONG WITH AMENDMENTS PROPOSED BY THE LABOR BOARD IF THE TWO SIDES CAN'T REACH A FINAL AGREEMENT WITHIN A 55DAY PERIOD BEGINNING NOV 16 THE LABOR BOARD COMMISSIONERS WILL PRODUCE A DOCUMENT THAT WOULD BE BINDING ON BOTH SIDES MR KOSTA SAID UNION MEMBERS WILL VOTE BY NOV 16 TO RATIFY THE BOARD'S RULING HE NOTED THAT A KEY ISSUE IN FUTURE TALKS WITH THE COMPANY WILL BE THE FATE OF 45 STRIKING WORKERS FIRED BY ROYAL OAK SINCE THE STRIKE BEGAN AND 16 OTHER MINERS THE COMPANY HAS SAID IT WANTS TO DISMISS THE BOARD A GOVERNMENT AGENCY CRITICIZED THE BARGAINING POSTURES OF BOTH SIDES 9311150131 931115 TECHNOLOGY & HEALTH SUPERANTIGENS' MAY HELP BOOST VACCINES' POWER BY ELYSE TANOUYE STAFF REPORTER OF THE WALL STREET JOURNAL CALIFORNIA RESEARCHERS SAY THEY HAVE IDENTIFIED A PROTEIN CALLED A SUPERANTIGEN THAT MAY SOMEDAY BOOST THE EFFECTIVENESS OF VACCINES AGAINST DEADLY BACTERIAL INFECTIONS NEWBORN BABIES THE ELDERLY AND PEOPLE WHOSE IMMUNE SYSTEMS ARE WEAKENED BY DISEASE ARE PARTICULARLY VULNERABLE TO BACTERIA THAT CAUSE PNEUMONIA AND INFECTIONS OF THE BRAIN AND BLOOD VACCINES EXIST BUT MANY ARE LIMITED IN EFFICACY FOR EXAMPLE PNEUMONIA VACCINES DON'T WORK IN AS MANY AS 30 OF ELDERLY PEOPLE SAID GREGG J SILVERMAN ASSISTANT PROFESSOR OF MEDICINE AT UNIVERSITY OF CALIFORNIA SAN DIEGO BUT ADDING A SUPERANTIGEN TO A VACCINE MAY HELP THE BODY BUILD ITS IMMUNE DEFENSES IN TWO PAPERS PUBLISHED IN TODAY'S ISSUE OF THE JOURNAL OF IMMUNOLOGY DR SILVERMAN AND HIS COLLEAGUES DESCRIBE THE SUPERANTIGEN AND HOW IT WORKS THE IMMUNE SYSTEM RECOGNIZES THREATENING BACTERIA THROUGH THEIR ANTIGENS WHICH ARE MOLECULES USUALLY PROTEINS CARBOHYDRATES OR FATS THAT ARE PRODUCED BY OR ARE PART OF THE BACTERIUM WHEN WHITE BLOOD CELLS CALLED LYMPHOCYTES DETECT THE ANTIGEN THEY CHANGE INTO TWO DIFFERENT TYPES OF CELLS PLASMA CELLS WHICH PRODUCE ANTIBODIES THAT KILL THE INVADING ORGANISMS AND MEMORY CELLS WHICH LIVE ON TO FIGHT FUTURE BATTLES AGAINST THE BACTERIA MEMORY CELLS PRODUCE THE IMMUNITY THAT ALLOWS THE BODY DURING LATER EXPOSURES TO QUICKLY RECOGNIZE THE PRESENCE OF BACTERIA ANTIGENS AND ATTACK THE BACTERIA BEFORE THEY MULTIPLY AND CAUSE HARM VACCINES GIVE THE BODY'S IMMUNE SYSTEM A TASTE OF A BACTERIAL INFECTION JUST ENOUGH TO PRODUCE MEMORY CELLS THAT WILL ALLOW THE BODY TO QUICKLY RESPOND WHEN A REAL INFECTION OCCURS BUT IN SOME PEOPLE THE VACCINES DON'T PRODUCE ENOUGH OR ANY MEMORY CELLS IF THE REAL BACTERIA LATER INVADE THE BODY THE WHITE CELLS WON'T RECOGNIZE THE BACTERIA'S ANTIGEN AND THE IMMUNE DEFENSE SYSTEM ISN'T ACTIVATED UNTIL THE INFECTION HAS SPREAD AND CAUSED SERIOUS ILLNESS SUPERANTIGENS ARE PROTEINS PRODUCED BY A COMMON BACTERIUM STAPHYLOCOCCUS AUREAUS THAT MOST PEOPLE HARBOR ON THEIR SKIN THE SUPERANTIGEN CALLED PROTEIN A ACTS LIKE A UNIVERSAL ANTIGEN THAT ANTIBODYPRODUCING WHITE CELLS CAN RECOGNIZE DR SILVERMAN IS LOOKING INTO THE POSSIBILITY OF ATTACHING SUPERANTIGENS TO THE ANTIGENS USED IN VACCINES WHITE CELLS ARE MORE LIKELY TO RECOGNIZE THE SUPERANTIGEN WHICH WOULD OPEN THE DOOR FOR THE ATTACHED VACCINE ANTIGEN THE IMMUNE DEFENSE SYSTEM COULD THEN BE ACTIVATED AND PRODUCE MEMORY CELLS THAT WILL RECOGNIZE THE ATTACHED ANTIGEN IN FUTURE EXPOSURES THE RESEARCHERS HYPOTHESIZE THE RESEARCH FUNDED BY THE NATIONAL INSTITUTES OF HEALTH AND THE ARTHRITIS FOUNDATION IS STILL IN VERY EARLY STAGES DR SILVERMAN IS ATTEMPTING TO PRODUCE A VACCINE USING THE SUPERANTIGEN WHICH HE PLANS TO TEST IN ANIMALS POSSIBLY BY NEXT SPRING ANY HUMAN VACCINE WOULD BE AT LEAST FOUR YEARS AWAY HE SAID SOME PHARMACEUTICAL COMPANIES HAVE EXPRESSED INTEREST IN HIS WORK HE SAID BUT HE DECLINED TO IDENTIFY THEM 9311150130 931115 WHO'S NEWS NOVELL SEEKS CHIEF EXECUTIVE TO SUCCEED NOORDA WHO PLANS TO LEAVE JOB BY JUNE BY JIM CARLTON STAFF REPORTER OF THE WALL STREET JOURNAL NOVELL INC IS SEARCHING FOR A SUCCESSOR TO CHIEF EXECUTIVE OFFICER RAYMOND J NOORDA WHO HAS INDICATED HE WILL FINALLY STEP DOWN FROM THAT POST AFTER HAVING HELPED BUILD THE SOFTWARE CONCERN INTO A BILLIONDOLLAR POWERHOUSE IN THE COMPUTERNETWORKING INDUSTRY MR NOORDA 69 YEARS OLD WHO IS ALSO CHAIRMAN AND PRESIDENT SAID IN A STATEMENT THAT HE EXPECTS TO HAVE A SUCCESSOR IN PLACE LONG BEFORE HIS BIRTHDAY NEXT JUNE 19 THE PROVO UTAH COMPANY SAID MR NOORDA IS EXPECTED TO STAY ON AS CHAIRMAN FOCUSING PRINCIPALLY ON STRATEGIC ISSUES TWO OTHER NOVELL EXECUTIVES SERVE WITH MR NOORDA IN AN OFFICE OF THE PRESIDENT AND NOVELL OFFICIALS SAID IT WILL BE UP TO THE BOARD TO DETERMINE WHETHER THE SUCCESSOR BECOMES JUST CHIEF EXECUTIVE OR PRESIDENT AND CHIEF EXECUTIVE MR NOORDA WILL BE RELINQUISHING BOTH HIS CHIEF EXECUTIVE AND PRESIDENT DUTIES THE SIXMEMBER BOARD QUIETLY BEGAN SCOUTING FOR A SUCCESSOR SEVERAL MONTHS AGO BUT PUBLICIZED THE SEARCH FRIDAY WALL STREET ANALYSTS WEREN'T SURPRISED SINCE MR NOORDA HAS INDICATED DURING THE PAST TWO YEARS THAT HE WOULD SETTLE THE ISSUE OF HIS SUCCESSOR SOON IN LIGHT OF HIS ADVANCING AGE BUT THEY EXPRESSED HOPE THAT THE BOARD WOULD DESIGNATE SOMEONE WHO CAN MAINTAIN THE SAME VISIONARY ZEAL THAT THEY SAY MR NOORDA HAS HAD IN PROPELLING NOVELL TO DOMINANCE IN THE MARKET FOR NETWORKING SOFTWARE THAT LINKS DIFFERENT PERSONAL COMPUTERS TOGETHER SO THAT THEY CAN COMMUNICATE YOU NEED A VISIONARY TO SEE WHAT MARKETS TO GET INTO NEXT SAID ERIC C BUCK A VICE PRESIDENT AT DONALDSON LUFKIN & JENRETTE YOU ALSO HAVE IMPORTANT ISSUES IN THE GROWING CLASH WITH MICROSOFT MICROSOFT CORP THE REDMOND WASH SOFTWARE BEHEMOTH IS BEGINNING TO COMPETE AGAINST NOVELL IN THE NETWORKING MARKET WITH ITS NEW OPERATING SYSTEM CALLED WINDOWS NT ALTHOUGH MICROSOFT HASN'T YET PUT TOO MUCH OF A DAMPER ON NOVELL WHICH HOLDS AN ESTIMATED 70 SHARE OF THE PC NETWORKING MARKET ANALYSTS WORRY THAT MICROSOFT HAS THE FINANCIAL CLOUT TO POSE A LONGTERM THREAT I THINK LONG TERM THE OVERALL SIZE OF THE MARKET IS GOING TO CONTINUE TO GROW AND THAT WILL CREATE OPPORTUNITIES FOR MICROSOFT AND OTHERS TO GAIN MARKET SHARE SAID CRAIG BURTON A MARKET WATCHER IN SALT LAKE CITY BUT I DON'T SEE THAT GROSSLY AFFECTING NOVELL'S LEADERSHIP POSITION SEARCH WHILE ANALYSTS EXPECT A SUCCESSOR TO BE NAMED FROM OUTSIDE THE COMPANY NOVELL OFFICIALS SAID THE BOARD IS LOOKING BOTH INTERNALLY AND EXTERNALLY WITHIN THE COMPANY FRONTRUNNERS COULD INCLUDE MARY M BURNSIDE CHIEF OPERATING OFFICER AND JAMES R TOLONEN CHIEF ADMINISTRATIVE OFFICER WHO WERE JOINTLY NAMED LAST SUMMER TO A NEWLY CREATED OFFICE OF THE PRESIDENT ALONG WITH MR NOORDA ANOTHER POSSIBILITY IS KANWAL S REKHI AN EXECUTIVE VICE PRESIDENT WHO HAS BEEN TAKING ON AN EXPANDED ROLE MR NOORDA A FORMER CHIEF EXECUTIVE OF A POWERSUPPLYSYSTEMS COMPANY JOINED NOVELL IN 1983 WHEN IT WAS FOCUSED ON COMPUTER HARDWARE WITH ANNUAL REVENUE OF ABOUT 38 MILLION THROUGH MR NOORDA'S SHIFT IN EMPHASIS TO NETWORKING SOFTWARE THE COMPANY'S REVENUE APPROACHED 1 BILLION IN THE FISCAL YEAR ENDED OCT 31 1992 AND ARE ESTIMATED BY ANALYSTS TO HAVE TOTALED 112 BILLION IN THE RECENTLY ENDED FISCAL YEAR NOVELL WON'T RELEASE ITS YEAREND RESULTS UNTIL NEXT MONTH NOVELL'S STOCK ROSE 375 CENTS A SHARE FRIDAY CLOSING AT 23 ON THE NASDAQ STOCK MARKET 9311150129 931115 FAILURE OF UNION BID FOR UAL PORTENDS ERA OF STORMIER AIRLINE LABOR RELATIONS BY MICHAEL J MCCARTHY STAFF REPORTER OF THE WALL STREET JOURNAL CHICAGO THE FAILURE OF THE UNION ATTEMPT TO ACQUIRE A MAJORITY STAKE IN UAL CORP SIGNALS THAT AFTER SEVERAL YEARS OF RELATIVE CALM THE AIRLINE INDUSTRY IS ENTERING A PERIOD OF STORMIER LABOR RELATIONS THE PARENT COMPANY OF UNITED AIRLINES OVER THE WEEKEND REJECTED AS INADEQUATE AN 11THHOUR PROPOSAL BY ITS PILOTS AND MACHINISTS UNIONS TO ACQUIRE A 60 STAKE IN THE CARRIER THE UNION GROUP VALUED ITS OFFER AT ABOUT 55 BILLION COMPRISING 35 BILLION IN WAGE AND OTHER CONCESSIONS AND ROUGHLY 2 BILLION IN CASH STOCK AND NOTES IT WAS THE THIRD FAILED ATTEMPT BY THE UNIONS TO BUY CONTROL OF UAL SINCE THE LATE 1980S WITH THE COLLAPSE OF TALKS UAL IS EXPECTED TO PROCEED WITH PLANS TO SHED HIGHCOST OPERATIONS IT RECENTLY HELD DISCUSSIONS ON SELLING SOME ENGINEMAINTENANCE OPERATIONS FOR MONTHS IT ALSO HAS BEEN CONSIDERING CREATING SEPARATE LOWERCOST OPERATIONS POSSIBLY IN PARTNERSHIP WITH AN INDEPENDENT AIRLINE TO HANDLE SHORTER ROUTES CLEARLY A COOPERATIVE APPROACH IS THE BEST WAY TO LOWER COSTS SAID LAWRENCE M NAGIN UAL'S GENERAL COUNSEL SHORT OF THAT THE PROBLEM MUST BE SOLVED AND UNITED IS COMMITTED TO DOING IT THE MACHINISTS WHO OPPOSE SUCH STEPS THREATENED TO LASH BACK UNITED HAS FIRED THE OPENING SHOT IN A WAR THE UNION TOLD MEMBERS IN A RECORDED MESSAGE ADDING FASTEN YOUR SEATBELTS IT'S GOING TO BE A ROUGH FLIGHT JOHN PETERPAUL THE UNION'S TOP AIRLINE NEGOTIATOR DECLINED TO SAY WHAT THE UNION WILL DO BUT HE SAID THAT SOME GROUND CREWS IN SAN FRANCISCO LAST WEEK DISRUPTED TRAFFIC BY CARRYING AROUND A COFFIN WITH THE NAME WOLF WRITTEN ON IT STEPHEN M WOLF IS CHAIRMAN AND CHIEF EXECUTIVE OFFICER OF UAL WE'RE NOT GOING TO MAKE IT EASY FOR THEM TO ACCOMPLISH THEIR PLANS TO DISMANTLE THE AIRLINE MR PETERPAUL SAID THE STRIFE AT UNITED COMBINED WITH A STRIKE THREAT BY FLIGHT ATTENDANTS AT AMR CORP'S AMERICAN AIRLINES JUST BEFORE THE BUSY THANKSGIVING HOLIDAY PLUNGE AIRLINE LABOR RELATIONS TO THEIR LOWEST POINT SINCE STRIKING EMPLOYEES FORCED EASTERN AIRLINES OUT OF BUSINESS THREE YEARS AGO WITH THE NOV 18 STRIKE DEADLINE AT AMERICAN CLOSING IN THE FEDERAL TRANSPORTATION AND LABOR DEPARTMENTS HAVE RUSHED TO INTERVENE PERSUADING THE FLIGHT ATTENDANTS AND AMERICAN MANAGEMENT TO REVIVE CONTRACT TALKS ON TUESDAY THE TACTICS THAT THE AIRLINES AND THEIR UNIONS ARE USING OR THREATENING TO HAS DEFINITELY SHARPENED THE DIVISIVENESS OF RELATIONS SAID JOHN BUDD A PROFESSOR OF INDUSTRIAL RELATIONS AT THE UNIVERSITY OF MINNESOTA THE ESCALATING TENSIONS COME AT A TIME WHEN THE NATION'S TWO LARGEST CARRIERS WERE COUNTING ON LABOR CONCESSIONS TO HELP SOLVE SERIOUS COST PROBLEMS DESPITE A BUDDING AIRLINE INDUSTRY RECOVERY THE LONGTERM PROFITABILITY OF UNITED AND AMERICAN WILL BE JEOPARDIZED UNTIL THEY SIGNIFICANTLY LOWER COSTS MAINLY FOR LABOR INDUSTRY ANALYSTS SAY MUCH OF THAT NEEDS TO BE DONE TO COMPETE WITH FASTGROWING SHORTERFLIGHT RIVALS LIKE SOUTHWEST AIRLINES WHICH HAVE MUCH LOWER COST STRUCTURES BUT THE LABOR TALKS AT UNITED AND AMERICAN HAVE BOTH BEEN HAMPERED BY THEIR RECENT BLACK INK THE INDUSTRY JUST POSTED ITS FIRST PROFITABLE QUARTER IN TWO YEARS PARTLY BECAUSE OF PREVIOUS COSTCUTTING MOVES MAKING IT HARDER FOR THE RANK AND FILE TO SWALLOW DEEP WAGE CONCESSIONS AMERICAN'S FLIGHT ATTENDANTS SOME ALREADY PICKETING AT 14 AIRPORTS NATIONALLY HAVE REFUSED TO ACCEPT A CONTRACT AIMED AT HOLDING WAGES DOWN PARTLY CITING AMERICAN'S TWO STRAIGHT PROFITABLE QUARTERS COMPLICATING UNITED'S LABORCONCESSION NEGOTIATIONS WAS THE DIFFICULTY EACH SIDE HAD ESTABLISHING A VALUE FOR THE REORGANIZED UNITED THE UNION PROPOSAL INCLUDED WORKRULE CHANGES TO ENHANCE EMPLOYEE PRODUCTIVITY AND AGREEMENT TO FORM A LOWERCOST AIRLINE CODENAMED U2 TO HANDLE SHORT ROUTES THE UNIONS VALUED THEIR PROPOSAL AT ABOUT 165 A SHARE HOWEVER THEY WERE TOLD THAT CS FIRST BOSTON UNITED'S FINANCIAL ADVISER ESTIMATED IT WAS WORTH ONLY 140 A SHARE IN COMPOSITE TRADING FRIDAY ON THE NEW YORK STOCK EXCHANGE UAL ROSE 1625 TO 148375 UAL SAID LATE FRIDAY THAT FIRST BOSTON CONCLUDED THE OFFER WAS SUBSTANTIALLY DEFICIENT IN TERMS OF PROVIDING ADEQUATE VALUE TO SHAREHOLDERS BUT A CRITICAL TURNING POINT IN THE FIVEMONTH TALKS HAPPENED FRIDAY AFTERNOON WITH A SINGLE FAXED LETTER NINETY MINUTES BEFORE UAL'S BOARD WAS SET TO CONSIDER THE UNION PROPOSAL THE COMPANY DISPATCHED THE LETTER TO THE UNIONS PROPOSING ADDITIONAL WAYS FOR THEM TO BOOST THE VALUE OF THEIR BID THE COMPANY SUGGESTED THE UNIONS INCREASE THE CONCESSION PERIOD BEYOND THE PROPOSED FIVE YEARS AND LOWER THE EQUITY STAKE THEY WERE SEEKING TO BELOW 60 IN SEPARATE ATTACHMENTS THE LETTER SUGGESTED OTHER MEASURES INCLUDING BIG WAGE CUTS FOR CATERING EMPLOYEE WORKERS INCENSED UNION MEMBERS BEGAN TO QUESTION UNITED'S SINCERITY IT WAS WORSE THAN WAVING A RED FLAG IN FRONT OF A BULL SAID ONE UNION NEGOTIATOR THE UNIONS FAXED A LETTER BACK REJECTING ALL OF UNITED'S SUGGESTIONS UAL THEN RESPONDED BY REJECTING THE UNION OFFER AND SAYING IT DECIDED NOT TO EXERCISE ITS RIGHT TO TERMINATE THE 1194 MILLION SALE OF 15 OF ITS CATERING KITCHENS TO DOBBS INTERNATIONAL SERVICES INC A UNIT OF DIAL CORP UNITED'S UNIONS HAD HOPED TO REACH AN AGREEMENT TO ACQUIRE A MAJORITY OF UAL IN TIME TO PREVENT THE SALE OF THE FLIGHT KITCHENS WHICH EMPLOY SOME 5200 UNION MEMBERS THE UNIONS WERE BITTERLY OPPOSED TO THE SALE UAL SAID IT IS OPEN TO FURTHER DISCUSSIONS TO FIX WHAT IT CALLED A NONCOMPETITIVE LABOR COST STRUCTURE BUT UNITED'S SALE OF THE KITCHENS WHICH HAS BECOME A LIGHTNING ROD FOR LABOR DISCONTENT MAKES CONTINUED NEGOTIATIONS UNLIKELY 9311150128 931115 INTERNATIONAL DEUTSCHE AEROSPACE MAY CUT MORE JOBS TO STAY COMPETITIVE SPECIAL TO THE WALL STREET JOURNAL MUNICH GERMANY IN A BID TO REMAIN COMPETITIVE DEUTSCHE AEROSPACE AG SAID IT MAY HAVE TO ELIMINATE UP TO 11000 JOBS IN ADDITION TO PLANS TO CUT 16000 JOBS JUERGEN E SCHREMPP CHAIRMAN OF THE COMPANY KNOWN AS DASA ANNOUNCED THE POSSIBILITY OF THE ADDITIONAL JOB CUTS AFTER A THREEHOUR MEETING WITH DAIMLERBENZ AG CHAIRMAN EDZARD REUTER AND PRIME MINISTERS OF FOUR GERMAN STATES DASA IS DAIMLER'S AEROSPACE UNIT DURING THE MEETING THE GOVERNORS SOUGHT WAYS TO REVERSE THE PLAN TO CLOSE SIX OF 53 PLANTS AND SLASH 16000 JOBS BY THE END OF 1996 HOWEVER BAVARIAN PRIME MINISTER EDMOND STOIBER CONCEDED AFTER THE MEETING THAT THERE WAS NOTHING HE OR THE OTHER GOVERNORS COULD DO TO HALT DASA'S PLANNED LAYOFFS OF THE 16000 WORKERS MR SCHREMPP SAID THE DECISION TO CUT THE 16000 WORKERS WAS THE MINIMUM MEASURE THAT COULD BE TAKEN IN ORDER TO SAVE THE OTHER 70000 JOBS UNLESS THE POLITICAL ENVIRONMENT IMPROVES FURTHER MEASURES WILL HAVE TO BE TAKEN 9311150127 931115 NETWORKS WIN RIGHT TO OWN TV PROGRAMS JUDGE LIFTS CONSENT DECREES BARRING SUCH ACTIVITIES STUDIOS TO PURSUE FIGHT BY ELIZABETH JENSEN STAFF REPORTER OF THE WALL STREET JOURNAL NEW YORK THE THREE MAJOR BROADCAST NETWORKS ARE EXPECTED TO SHARPLY STEP UP THEIR PRODUCTION AND OWNERSHIP OF PRIMETIME TV SHOWS AFTER WINNING RELIEF FROM CONSENT DECREES THAT HAD BARRED SUCH ACTIVITIES LAST WEEK A FEDERAL JUDGE LIFTED THE LONGSTANDING CONSENT DECREES DEALING A SEVERE BLOW TO HOLLYWOOD STUDIOS THAT HAD OPPOSED THE CHANGE UNDER THE RULING CAPITAL CITIES/ABC INC'S ABC CBS INC'S CBS AND GENERAL ELECTRIC CO'S NBC CAN BEGIN IMMEDIATELY TAKING FINANCIAL INTERESTS IN SHOWS PRODUCED BY OUTSIDERS THE RULING ALSO SETS THE STAGE FOR THE NETWORKS TO GET INTO THE BUSINESS OF SELLING RERUNS AND ORIGINAL PROGRAMS IN THE DOMESTIC SYNDICATION MARKET TWO YEARS FROM NOW AND ONCE FINAL RESTRICTIONS ON SYNDICATION ARE LIFTED THE WAY WILL BE CLEARED FOR NETWORKS TO MERGE WITH STUDIOS MOST OF WHICH HAVE EXTENSIVE SYNDICATION OPERATIONS THE RULING FROM US DISTRICT COURT JUDGE MANUEL REAL LIFTING THE CONSENT DECREES WAS DATED NOV 8 BUT THE DECISION WHICH WAS SENT BY US MAIL ON WEDNESDAY ONLY REACHED THE STUDIOS AND NETWORKS LATE FRIDAY AND SATURDAY A SPOKESWOMAN FOR THE COALITION OF HOLLYWOOD PRODUCERS OPPOSING THE RULE CHANGE ADMITTED THAT THE RULING WAS A SETBACK BUT SAID THE STUDIOS STILL HAVE LEGAL OPTIONS TO PURSUE THE FAT LADY HAS ENTERED THE AUDITORIUM BUT SHE HASN'T YET BEGUN TO SING SHE SAID RICHARD COTTON GENERAL COUNSEL FOR NBC CALLED THE RULING AN HISTORIC MOMENT THAT ACKNOWLEDGES THE FUNDAMENTAL CHANGES TAKING PLACE IN THE COMMUNICATIONS BUSINESS THE NETWORKS HAVE LONG ARGUED THAT THE RULES PUT IN PLACE WHEN THEY DOMINATED THE TV BUSINESS HAVE SHACKLED THEM UNFAIRLY IN AN ERA WHEN CABLE COMPANIES AND TELEPHONE COMPANIES ARE MERGING TO OFFER EXPANDED TV SERVICE AND NEW BROADCAST NETWORKS ARE BEING FORMED BY STUDIOS AND OTHER BROADCASTERS THESE RULES HAVE LONG OUTLIVED THEIR USEFULNESS MR COTTON SAID THIS IS A COMPLETE VINDICATION OF WHAT WE'VE BEEN SAYING FOR MANY YEARS IT'S A LONG TIME COMING AND WE'RE OBVIOUSLY VERY PLEASED SAID STEPHEN WEISWASSER GENERAL COUNSEL AT ABC THE RULING HE SAID WILL LET THE NETWORKS ENGAGE IN FULLFLEDGED COMPETITION WITH THE STUDIOS BUT ONE NETWORK EXECUTIVE WAS MORE CAUTIOUS THIS GETS US HALFWAY HOME BUT ONLY HALFWAY HOME SAID MARTIN FRANKS A CBS VICE PRESIDENT IT'S REAL PROGRESS AND EVERYBODY'S HAPPY BUT THE BATTLE ISN'T OVER HE SAID THE SOCALLED FINANCIAL INTEREST AND SYNDICATION RULES WERE IMPOSED BY THE FEDERAL COMMUNICATIONS COMMISSION MORE THAN TWO DECADES AGO TO FOSTER INDEPENDENT PRODUCTION AT A TIME WHEN THE NETWORKS COMMANDED MORE THAN 90 OF THE NIGHTLY TELEVISION VIEWING AUDIENCE AND HAD ENORMOUS POWER OVER WHICH SHOWS GOT ON THE AIR IN APRIL THE FCC LIFTED LIMITS ON FINANCIAL INTEREST AND SET THE TWOYEAR SUNSET ON THE SYNDICATION RULES BUT THE CHANGES WERE CONTINGENT UPON THE LIFTING OF THE PARALLEL CONSENT DECREES WHICH WERE ENTERED INTO BY THE NETWORKS AND THE JUSTICE DEPARTMENT IN 1978 AND 1980 THE NETWORKS HAVE CHALLENGED THE REMAINING TWOYEAR BAN ON THE NETWORKS' PARTICIPATION IN THE LUCRATIVE DOMESTIC SYNDICATION BUSINESS IN AN APPEAL THAT HAS BEEN ACCEPTED FOR HEARING BY THE SEVENTH CIRCUIT COURT OF APPEALS IN CHICAGO THAT PROCEEDING ISN'T EXPECTED TO YIELD A DECISION BEFORE NEXT SUMMER MORE IMMEDIATELY THE NETWORKS ARE EXPECTED TO BEGIN CHANGING THE WAY THEY FINANCE SHOWS ON THE AIR THIS OPENS UP THE ABILITY TO DEAL CREATIVELY IN A MARKETPLACE SENSE WITH THE FINANCING OF NETWORK PROGRAMS SUCH AS FINANCING PRODUCTIONS OF INDEPENDENT PRODUCERS AND STRIKING JOINT VENTURES MR COTTON SAID WHILE THE RULING CLEARS THE WAY FOR NETWORKSTUDIO MERGERS IN TWO YEARS SOME NETWORK EXECUTIVES CAUTIONED THAT SUCH MOVES WOULD BE COMPLICATED BY OTHER RESTRICTIONS ON OVERLAPS BETWEEN NETWORKS BROADCAST STATIONS AND CABLE SYSTEMS FOR EXAMPLE TIME WARNER INC WHICH OWNS WARNER BROS HAS EXTENSIVE CABLESYSTEM HOLDINGS AND NEWS CORP WHICH OWNS 20TH CENTURY FOX ALREADY HAS BROADCAST STATIONS AND A NETWORK STILL THERE HAS LONG BEEN SPECULATION THAT STUDIO AND THEME PARK OPERATOR WALT DISNEY CO WOULD BE INTERESTED IN MERGING WITH A NETWORK OR THAT SMALLER PRODUCTION COMPANIES OR INDEPENDENT STUDIOS COULD BE ACQUIRED BY NETWORKS IF RESTRICTIONS WERE LIFTED MR WEISWASSER ARGUED THAT THE RULING CHANGES LITTLE IN THE POTENTIAL MERGER SCENARIO I'VE ALWAYS BELIEVED THAT THE RULES NEVER POSED THAT MUCH OF AN IMPEDIMENT TO ANY DEAL THAT PEOPLE OTHERWISE MIGHT HAVE WANTED TO DO AND SO THEIR ABSENCE IS NOT LIKELY TO CHANGE ANY GAME PLAN THAT MUCH 9311150126 931115 UAW ENDS STRIKE AGAINST CATERPILLAR AFTER THREE DAYS BY ROBERT L ROSE STAFF REPORTER OF THE WALL STREET JOURNAL THE UNITED AUTO WORKERS UNION LAUNCHED A STRIKE AGAINST CATERPILLAR INC THEN ABRUPTLY CALLED IT OFF AFTER THREE DAYS TELLING MEMBERS TO RETURN TO WORK FOR LAST NIGHT'S SHIFTS THE WALKOUT WHICH BEGAN FRIDAY AND CONTINUED INTO YESTERDAY DISRUPTED PRODUCTION AT A TIME WHEN THE CONSTRUCTIONEQUIPMENT COMPANY'S BUSINESS IS REBOUNDING THOUGH BRIEF IT MARKED A SHARP ESCALATION IN A BATTLE THAT HAS SIMMERED SINCE APRIL 1992 WHEN THE UNION CALLED OFF A FIVEMONTHOLD STRIKE AFTER THE PEORIA ILL COMPANY THREATENED TO PERMANENTLY REPLACE THE STRIKERS UNION OFFICIALS AND MEMBERS SAID THE STRIKE WAS SPARKED BY THE SUSPENSION OF A UNION OFFICER LAST WEEK AT THE COMPANY'S ENGINE PLANT IN MOSSVILLE ILL BUT UNLIKE PREVIOUS LIMITED WALKOUTS OVER OTHER FACTORY DISPUTES IN RECENT MONTHS THIS ONE QUICKLY SPREAD TO CATERPILLAR'S MAIN PRODUCTION FACILITIES IN FIVE ILLINOIS CITIES AND IN YORK PA WE FEEL WE'VE MADE OUR POINT SAID LARRY SOLOMON PRESIDENT OF THE UAW LOCAL IN DECATUR ILL WE FEEL WE'VE LAID THE GROUNDWORK TO LET CAT KNOW WE CONSIDER THIS VERY SERIOUS IN A STATEMENT LAST NIGHT CATERPILLAR SAID IT'S PLEASED THAT THE STRIKE HAS ENDED BUT IT ADDED THE DISRUPTION TO THE COMPANY LOST PERSONAL INCOME TO OUR EMPLOYEES AND THE ANXIETY IT CAUSED SERVED NO PURPOSE WHATSOVER THE WALKOUT ILLUSTRATES THE DANGERS TO CATERPILLAR OF CONTINUING TO OPERATE WITHOUT A SIGNED CONTRACT BECAUSE IT SHOWS THE COMPANY IS VULNERABLE TO A COSTLY FLAREUP AT ANY TIME CATERPILLAR OFFICIALS SAID THAT ABOUT 5700 OF ITS 7000 UAW WORKERS ON THE DAY SHIFT WERE OFF THE JOB FRIDAY LOCAL UNION OFFICIALS IN ILLINOIS CLAIMED THAT THE STRIKE WAS FAR MORE EFFECTIVE WITH UP TO 95 OR 13000 WORKERS HONORING PICKET LINES ON ALL THREE SHIFTS NOTING THAT IT TOOK MORE THAN FIVE MONTHS FOR CATERPILLAR TO THREATEN TO REPLACE THE WORKERS IN 1992 A COMPANY OFFICIAL HAD SAID FRIDAY IT WON'T BE THAT LONG THIS TIME AROUND BUT OTHER THAN TO SAY IT WILL OPERATE IF NECESSARY WITHOUT THE STRIKING WORKERS THE COMPANY WASN'T MORE PRISE ABOUT ITS PLANS UAW OFFICIALS WERE CAREFUL TO SAY THE STRIKE WAS OVER THE SUSPENSION AND OTHER ALLEGED UNFAIR LABOR PRACTICES AND NOT OVER THE LACK OF A CONTRACT THE DIFFERENCE IS CRUCIAL UNDER LABOR LAW COMPANIES CAN'T PERMANENTLY REPLACE WORKERS IN A STRIKE OVER UNFAIR LABOR PRACTICES SEVERAL LOCAL UAW OFFICIALS CONTENDED THAT THE COMPANY HAS UNFAIRLY HARASSED THEM AND OTHERS FOR MONTHS THE STRIKE SAID JOHN YARBROUGH PRESIDENT OF THE UAW LOCAL IN AURORA ILL WAS TO SHOW CATERPILLAR WE'RE GETTING SICK AND TIRED OF THEM PLACING THEMSELVES ABOVE THE LAW AND VIOLATING OUR RIGHTS BUT AS THE COMPANY WARNED FRIDAY IT CAN TAKE YEARS FOR THE NATIONAL LABOR RELATIONS BOARD OR THE COURTS TO DECIDE WHETHER A STRIKE IS OVER UNFAIR LABOR PRACTICES BLAMING THE STRIKE ON A SMALL GROUP OF UNION ACTIVISTS CATERPILLAR SAID STRIKING WORKERS WERE UNNECESSARILY PLACED IN A POSITION OF RISK IT ALSO SAID THAT BEFORE THE STRIKE THE COMPANY HAD OFFERED TO CONDUCT A HEARING ON THE SUSPENSION OF THE WORKER THE UAW SAID THE NATIONAL LABOR RELATIONS BOARD HAS ALREADY ISSUED 44 COMPLAINTS AGAINST CATERPILLAR OVER UNFAIR LABOR PRACTICES A LONG AND COMPLEX HEARING OVER THOSE ALLEGATIONS RESUMES TODAY IN PEORIA THE COMPANY SAYS MANY OF THEM ARE MINOR AND THAT IT EXPECTS TO BE VINDICATED THE UNION SOUGHT TO ADD TO THE LIST OF COMPLAINTS FRIDAY FILING A CHARGE IN PEORIA OVER THE SUSPENSION OF THE ENGINEPLANT WORKER GEORGE BOZE JR THE UNION ALLEGED THAT AFTER MR BOZE FILED A GRIEVANCE AGAINST THE COMPANY WEDNESDAY OF LAST WEEK A SUPERVISOR THREATENED HIM THE UAW SAID THAT WHEN MR BOZE SOUGHT TO FILE A GRIEVANCE OVER THE THREAT THE TWO EXCHANGED WORDS CATERPILLAR SAID MR BOZE THREATENED THE SUPERVISOR AND BUMPED HIM IN THE CHEST CATERPILLAR CHAIRMAN DONALD FITES IS SCHEDULED TO APPEAR BEFORE SECURITIES ANALYSTS IN NEW YORK TODAY TO MANY HE'S A HERO FOR STANDING UP TO THE UAW AND FOR HELPING TO MAKE CATERPILLAR A STRONGER COMPETITOR CATERPILLAR'S STOCK HAS SOARED THIS YEAR ON NEWS OF HIGHER EARNINGS AND PREDICTIONS OF MORE TO COME CATERPILLAR SHARES CLOSED AT 8925 FRIDAY DOWN 1125 IN COMPOSITE TRADING ON THE NEW YORK STOCK EXCHANGE THE COMPANY HAS ALSO INSISTED THAT THE UNION'S SOCALLED WORKTORULE STRATEGY TO SLOW PRODUCTION HASN'T AFFECTED QUALITY OR PRODUCTION BUT THE STRIKE CAME AS THE COMPANY FACES A SHORTAGE OF SEVERAL OF ITS BESTSELLING MACHINES AS OF LATE LAST MONTH 26 MODELS WERE ON ALLOCATION TO DEALERS ELI LUSTGARTEN A PAINEWEBBER ANALYST SAID THE LATEST STRIKE IS GOING TO REMIND PEOPLE THAT TO BE TRULY SUCCESSFUL LONGTERM THERE'S GOT TO BE LABOR PEACE 9311150125 931115 INTERNATIONAL NAFTA OR NOT MANY FOREIGN COMPANIES VIEW NORTH AMERICA AS ONE MARKET BY ES BROWNING STAFF REPORTER OF THE WALL STREET JOURNAL NEW YORK WITH THEIR GROWING NORTH AMERICAN PRESENCE HUGE FOREIGN COMPANIES SUCH AS SIEMENS AG AND ABB ASEA BROWN BOVERI LTD ARE EAGERLY WATCHING THIS WEEK'S CONGRESSIONAL VOTE ON THE NORTH AMERICAN FREE TRADE AGREEMENT BUT THEY AREN'T HOLDING THEIR BREATH MORE AND MORE FOREIGN COMPANIES ALREADY ARE TREATING THE US CANADA AND MEXICO AS A UNIFIED MARKET ADJUSTING MANUFACTURING AND DISTRIBUTION SYSTEMS TO REFLECT ECONOMIC REALITY IF CONGRESS REJECTS NAFTA THEY SAY IT WILL SLOW THE PROCESS BUT IT WON'T STOP IT FOR THEM THE NORTH AMERICAN MARKET ALREADY EXISTS AS GERMANS AND EUROPEANS WE WERE ALREADY CONVINCED A YEAR AND A HALF AGO THAT THEY WOULD COME TOGETHER AND CREATE A LARGER MARKET SAYS ALBERT HOSER PRESIDENT OF THE US ARM OF THE GERMAN INDUSTRIAL GROUP SIEMENS SIEMENS WHICH IS REORGANIZING ITS NORTH AMERICAN PRODUCTION ON A REGIONAL BASIS SAYS THE PROCESS WILL CONTINUE REGARDLESS OF THE VOTE ABB A BIG SWISSSWEDISH ELECTRICAL ENGINEERING AND POWERGENERATION GROUP SAYS IT'S DOING THE SAME REFLECTING ITS BELIEF THAT TRADE IS BECOMING FREER IT RECENTLY REORGANIZED ITS WORLDWIDE MANAGEMENT STRUCTURE INTO JUST THREE TRADING BLOCKS EUROPE ASIA AND THE AMERICAS NESTLE SA ALREADY RUNS ITS US AND CANADIAN FOOD OPERATIONS JOINTLY NOW IT IS MOVING TO TIE IN MEXICO AS WELL COMPANIES SUCH AS DAIMLERBENZ AG AND MATSUSHITA ELECTRIC INDUSTRIAL CO SAY THEY HOPE TO WORK THROUGH MEXICO TO GET BETTER ACCESS TO SOUTH AMERICA'S PROTECTED MARKETS WE HAVE CLIENTS THAT ALREADY TWO YEARS AGO CHANGED THEIR ORGANIZATION WORLDWIDE IN ORDER TO TREAT NORTH AMERICA AS ONE MARKET SAYS ARI BOUSBIB A PARTNER AT CONSULTING GROUP BOOZ ALLEN & HAMILTON INC THAT'S BEEN TRUE OF US COMPANIES BUT EVEN MORE SO OF FOREIGN COMPANIES JAPANESE TELEVISIONSET MAKERS HE SAYS INCREASINGLY ARE SUPPLYING THE ENTIRE NORTH AMERICAN MARKET FROM THE SAME PLANTS BASED EITHER IN THE US OR MEXICO IN THE YEARS LEADING UP TO EUROPE'S 1992 UNIFIED MARKET US CONCERNS SUCH AS CONSUMERPRODUCT MAKER PROCTER & GAMBLE CO OFTEN FOUND THEY COULD MOVE FASTER THAN LONGESTABLISHED LOCAL COMPANIES TO CREATE REGIONAL MANUFACTURING AND DISTRIBUTION SYSTEMS THE EUROPEAN COMPANIES OFTEN HAD POWERFUL COUNTRYBYCOUNTRY SETUPS THAT HAD TO BE REWORKED THE AMERICANS HAD LESS WORK TO UNDO WHEN THEY WANTED TO SET UP REGIONAL OPERATIONS NOW LOOKING AT NORTH AMERICA FROM OUTSIDE THE EUROPEANS FEEL THEY CAN BRING SIMILAR FRESH EYES TO THIS REGION MANY US COMPANIES MEANWHILE ARE STILL ACCUSTOMED TO TREATING CANADA AND MEXICO AS FOREIGN COUNTRIES OR SECONDRATE SATELLITES OF THE US THERE MAY BE SOME DIFFICULTIES APPROVING NAFTA SAYS ALBERT MERLIN CHIEF ECONOMIST OF FRENCH GLASS AND BUILDING MATERIALS CONCERN CIE DE SAINT GOBAIN BUT EUROPEAN COMPANIES ALREADY HAVE A TENDENCY TO THINK OF IT AS A SINGLE MARKET DAIMLER'S PLANNED MERCEDES PLANT IN ALABAMA FOR EXAMPLE WILL BE THE ONLY PLACE IN THE WORLD WHERE IT WILL BUILD FOURWHEELDRIVE RECREATIONAL VEHICLES MOST OF WHICH IT INTENDS TO EXPORT ON THE OTHER HAND IT DOESN'T CURRENTLY PLAN TO ASSEMBLE ITS LUXURY SEDANS IN THE US IT HOPES AMERICANS EVENTUALLY WILL BUY SOME FANCY CARS THAT HAVE BEEN ASSEMBLED IN MEXICO FROM GERMANMADE KITS SIEMENS HAS CREATED A SPECIAL TASK FORCE CHARGED WITH REGIONALIZING PRODUCTION SO THAT NORTH AMERICA'S THREE COUNTRIES DUPLICATE FEWER OF THE SAME PROCESSES WE ARE DISCUSSING EACH PRODUCT AREA SAYS SIEMENS'S MR HOSER AND THERE'S SOME HAGGLING GOING ON ALREADY ALL SMALLMOTOR PRODUCTION IS OVERSEEN BY SIEMENS'S MEXICAN OPERATION WHILE LARGE AND MEDIUMSIZE MOTORS ARE OVERSEEN BY THE US UNIT CEMENTMAKING EQUIPMENT IS CONTROLLED BY MEXICO BUT ENGINEERING FOR STEEL IS HANDLED OUT OF ATLANTA SHIPBUILDING EQUIPMENT AND SOME SOFTWARE OPERATIONS BELONG TO CANADA SOME PRODUCTS NOTABLY THOSE CONTROLLED BY THINGS SUCH AS LOCAL BUILDING CODES WILL REMAIN LOCALLY PRODUCED BUT WITH TIME SIEMENS EXPECTS THE VAST MAJORITY OF ITS PRODUCTION TO BE REGIONAL THE PROCESS CAN BE DIFFICULT EIGHTEEN MONTHS AGO SIEMENS DECIDED THAT THE SIZE OF THE EMERGING NORTH AMERICAN MARKET JUSTIFIED UNIFYING ITS ENTIRE WORLDWIDE PACEMAKER OPERATIONS UNDER THE SUPERVISION OF US MANAGERS THAT INFURIATED ITS SWEDISH BRANCH WHICH HAD INVENTED ITS ORIGINAL PACEMAKER SYSTEMS AND WHICH UNTIL THEN HAD REPORTED DIRECTLY TO GERMANY IT EVEN CREATED PROBLEMS WITHIN THE US WHEN SIEMENS EMPLOYEES IN LOS ANGELES WERE PUT UNDER CONTROL OF PEOPLE IN SEATTLE BUT SIEMENS FELT THE PAINFUL CONSOLIDATION MADE IT MORE COMPETITIVE IN NORTH AMERICA AND WORLDWIDE AND IT IS PUSHING TO REGIONALIZE OTHER OPERATIONS EVEN IF NAFTA IS ADOPTED WE WILL MAINTAIN SOME NATIONAL DIFFERENCES SAYS MR HOSER OUR SALES OPERATIONS WILL BE MAINTAINED IN ALL THREE COUNTRIES BUT FOR MANUFACTURING AND TECHNOLOGY WE ARE PRACTICALLY ACTING AS IF NAFTA WERE ALREADY HERE IN ORDER TO BE READY WHEN IT COMES 9311150124 931115 INTERNATIONAL ALUSUISSELONZA UNIT PLANS TO MAKE OFFER FOR LAWSON MARDON ZURICH A UNIT OF THE ALUSUISSELONZA GROUP SAID IT PLANS TO BID TO ACQUIRE LAWSON MARDON GROUP LTD A TORONTOBASED PACKAGING CONCERN IN A TRANSACTION VALUED AT ABOUT 555 MILLION CANADIAN DOLLARS US4229 MILLION ALUSUISSELONZA A CHEMICAL PACKAGING AND ALUMINIUM CONCERN BASED IN ZURICH SAID IT WILL OFFER C14 A SHARE FOR ALL THE OUTSTANDING CLASS A AND CLASS B SHARES OF LAWSON MARDON IT SAID CRAGNOTTI & PARTNERS CAPITAL INVESTMENT SA A CLOSELY HELD CONCERN WILL TENDER ITS STAKE IN LAWSON MARDON TO THE OFFER CRAGNOTTI CURRENTLY HOLDS A 327 EQUITY STAKE AND A 526 VOTING INTEREST IN LAWSON MARDON GIVING ALUSUISSELONZA 359 OF LAWSON MARDON'S EQUITY AND 54 OF THE VOTES ALUSUISSE SAID THE OFFER IS CONDITIONAL ON COMPLETING DUE DILIGENCE A PROCESS WHICH IT SAID IS EXPECTED TO TAKE ABOUT FIVE WEEKS AND ON ENOUGH SHARES BEING TENDERED TO ALLOW IT TO MAKE LAWSON MARDON A WHOLLY OWNED SUBSIDIARY THE SWISS CONCERN SAID IT INTENDS TO FINANCE THE BID THROUGH ITS EXISTING CASH RESOURCES AND BANK FACILITIES ALTHOUGH IT MAY PURSUE A RIGHTS ISSUE LATER ALUSUISSE SAID IT IS SEEKING TO EXPAND ITS PACKAGING OPERATIONS AND SEES THE ACQUISITION OF LAWSON MARDON AS A LOGICAL STEP IN THAT DIRECTION ALUSUISSE OFFICIALS COULDN'T BE REACHED FOR DETAILS OR FURTHER COMMENT AND LAWSON MARDON OFFICIALS HAD NO COMMENT 9311150123 931115 MARKETING & MEDIA WHITTLE IS FACING BIG BATTLE TO RETAIN DRUG ADVERTISERS FOR MEDICAL NETWORK BY PATRICK M REILLY STAFF REPORTER OF THE WALL STREET JOURNAL WITH COST PRESSURES AND POLITICAL HEAT BUILDING ON THE PHARMACEUTICAL INDUSTRY WHITTLE COMMUNICATIONS LP IS FACING AN UPHILL BATTLE TO RETAIN DRUG ADVERTISERS FOR ITS MEDICAL NEWS NETWORK WHITTLE SECURED ABOUT 100 MILLION IN SPONSORSHIP MONEY FROM SEVEN LEADING PHARMACEUTICAL DRUG COMPANIES FOR A ONEYEAR TEST OF MEDICAL NEWS NETWORK A DAILY NEWS AND INFORMATION BROADCAST DELIVERED TO DOCTORS' OFFICES VIA SATELLITE BUT NONE OF THE SEVEN HAS COMMITTED FOR ITS SECOND PHASE STARTING NEXT FEBRUARY A FAILURE TO RENEW DRUG SPONSORSHIPS WOULD DEAL A POTENTIALLY CRIPPLING BLOW TO MEDICAL NEWS NETWORK AND ADD TO WHITTLE'S WOES IN GENERAL WHITTLE'S ADVERTISERSUPPORTED CHANNEL ONE INSCHOOL NEWS BROADCAST CONTINUES TO GENERATE CONTROVERSY ITS SPECIAL REPORT NETWORK FOR DOCTORS' WAITING ROOMS IS OPERATING AT A LOSS AND THE COMPANY WAS UNABLE TO ATTRACT BIG CORPORATE PARTNERS FOR ITS FORPROFIT EDISON SCHOOLS AND HAS SCALED BACK THE PROJECT MEDICAL NEWS NETWORK'S TECHNOLOGY DEVELOPED BY PHILIPS ELECTRONICS NV WHICH HAS A 25 STAKE IN WHITTLE COMBINES THE CAPABILITIES OF A PERSONAL COMPUTER TELEPHONE TELEVISION AND VIDEOCASSETTE RECORDER WHITTLE HAS INSTALLED PERSONAL COMPUTERLIKE VIDEO MONITORS AND KEYBOARDS IN ABOUT 5000 PHYSICIANS' OFFICES FROM WHICH DOCTORS CAN VIEW A DAILY MEDICAL NEWS PROGRAM ORDER DRUG SAMPLES REQUEST INFORMATION FROM COMPANIES BY FAX OR MAIL AND VIEW ACCREDITED CONTINUING MEDICAL EDUCATION PROGRAMS AND NEWS SPECIALS WHITTLE IS ASKING THE DRUG COMPANIES FOR THREEYEAR COMMITMENTS AND SPONSORSHIP POSITIONS STARTING AT 40000 AND GOING AS HIGH AS 100 MILLION ACCORDING TO INDUSTRY EXECUTIVES FOR AN EXPANDED AND MORE HIGHPOWERED NETWORK ALAN GREENBERG CHAIRMAN OF MEDICAL NEWS NETWORK WOULDN'T COMMENT ON THE LENGTH NOR SIZE OF THE CONTRACTS AND SAID WHILE WE EXPECT SOME LEVEL OF TURNOVER IN SPONSORS WE EXPECT TO HAVE AN OVERSOLD SYSTEM IT'S A MISTAKE TO BELIEVE THESE CLIENTS SHOULD HAVE BEEN SIGNED UP BY NOW THINGS ARE GOING WELL RIGHT NOW WHITTLE'S FIRSTYEAR SPONSORS INCLUDE MARION MERRELL DOW INC ABBOTT LABORATORIES INC PFIZER INC JOHNSON & JOHNSON GLAXO INC CIBAGEIGY CORP AND MERCK & CO ALL SAID THEY ARE CONSIDERING SIGNING UP AGAIN FOR THE NETWORK BUT NONE HAS MADE A FINAL DECISION OR WOULD COMMENT ON ONE WHITTLE EXECUTIVES MAINTAIN THAT FOUR MORE DRUG COMPANIES HAVE PAID SEVERAL MILLION DOLLARS SIMPLY TO BE ON A WAITING LIST FOR THE NETWORK BUT WHITTLE BASED IN KNOXVILLE TENN COULDN'T HAVE PICKED A TOUGHER TIME TO SEEK BIG DOLLARS FROM DRUG MARKETERS WHO ARE UNDER PRESSURE TO CURTAIL THE ESTIMATED 4 BILLION THEY SPEND ANNUALLY TO PROMOTE PRESCRIPTION DRUGS THE CLINTON ADMINISTRATION IN ITS QUEST TO OVERHAUL THE NATION'S HEALTHCARE SYSTEM HAS CHARGED THAT THE INDUSTRY SPENDS 1 BILLION MORE EACH YEAR ON ADVERTISING AND LOBBYING THAN IT DOES ON DEVELOPING NEW AND BETTER DRUGS THE INDUSTRY DISPUTES THAT FIGURE BUT IT IS ALSO COMING UNDER ADMINISTRATION PRESSURE TO CONTAIN PRESCRIPTION DRUG PRICES AS A RESULT COMPETITION IS STIFFENING DISCOUNTING IS SPREADING AND DRUG COMPANIES HAVE SLASHED PAYROLLS AND TAKEN HUGE RESTRUCTURING CHARGES OUR FUTURE PARTICIPATION IN MNN IS UNDER REVIEW AND WE ARE LOOKING CLOSELY BEFORE WE MAKE A FINAL DECISION SAYS DOUG ARBESFELD A SPOKESMAN FOR CIBAGEIGY AN EARLY BACKER OF MEDICAL NEWS NETWORK WE WON'T JUST JUMP IN SAYING YEAH WE'LL DO IT AGAIN' THE ENVIRONMENT HAS CHANGED SINCE WE JOINED MNN HE ADDED THAT CIBAGEIGY A UNIT OF CIBAGEIGY LTD OF SWITZERLAND HAS GONE THROUGH LAYOFFS AND BUDGET CUTS THERE IS DEFINITELY LESS TO SPEND ON ADVERTISING THAN WHEN WE FIRST GOT INVOLVED WITH MNN WHITTLE CREATED MEDICAL NEWS NETWORK AS A WAY FOR DRUG COMPANIES TO CUT THROUGH THE CLUTTER OF PAID ADS IN MEDICAL TRADE MAGAZINES AND TO SUPPORT THE SALES FORCES THAT PAY VISITS TO DOCTORS' OFFICES THE NETWORK DELIVERS A DAILY MEDICAL NEWS PROGRAM PRODUCED BY MEDICAL JOURNALISTS THE DRUG COMPANIES CAN AIR TWO TWOMINUTE PROMOTIONS EACH DAY AND BE THE EXCLUSIVE ADVERTISER FOR THAT DAY WHITTLE MAINTAINS IT CAN SAVE DRUG COMPANIES MONEY INSTEAD OF TAKING DOCTORS TO DINNER TO CURRY FAVOR FOR THEIR PRODUCTS THE DRUG COMPANIES CAN STAGE LIVE INTERACTIVE EVENTS THROUGH THE NETWORK THAT REACH THOUSANDS OF DOCTORS AT A TIME WHITTLE HAS SAID IT CAN PLACE THE HARDWARE FOR THE NETWORK ON THE DESKS OF 50000 PHYSICIANS AND HEALTHCARE INDUSTRY EXECUTIVES BY 1995 BUT WHITTLE ALSO FACES COMPETITION FROM AN ADVERTISERSUPPORTED COMPUTERBASED INTERACTIVE SERVICE OFFERING ADS AND PROMOTIONAL SERVICES TO THE DRUG COMPANIES AT LOWER PRICES IN JANUARY PYRAMED NETWORKS INC BASED IN NEW YORK WILL ROLL OUT A PAID SUBSCRIPTION INTERACTIVE NEWS AND INFORMATION SERVICE PHYSICIANS CAN USE EITHER AT HOME OR IN THEIR OFFICES DAVID J MOORE PRESIDENT OF PYRAMED NETWORKS SAYS THAT BY THANKSGIVING THE COMPANY WILL ANNOUNCE AN ALLSTAR LINEUP OF DRUG COMPANY SPONSORS SOME OF WHOM WERE ONCE SUPPORTERS OF WHITTLE'S MEDICAL NEWS NETWORK 9311150122 931115 BANKS MAY GET MORE FLEXIBILITY IN MAKING LOANS REGULATORY REVIEW BY US MAY MEAN MORE MONEY FOR CERTAIN BORROWERS BY KENNETH H BACON AND BECKY GAYLORD STAFF REPORTERS OF THE WALL STREET JOURNAL WASHINGTON EFFORTS BY THE COMPTROLLER OF THE CURRENCY TO STREAMLINE REGULATIONS WILL GIVE NATIONAL BANKS MORE FLEXIBILITY TO MAKE LOANS TO LARGE BORROWERS THE COMPTROLLER'S OFFICE HAS COMPLETED A DRAFT OF REVISIONS OF LENDING LIMITS THAT WILL PROVIDE SOMEWHAT MORE FLEXIBILITY IN THE AMOUNT A BANK CAN LEND TO ANY ONE BORROWER JULIE WILLIAMS DEPUTY CHIEF COUNSEL SAID IN AN INTERVIEW IN MANY CASES THE REVISED RULES SHOULD SLIGHTLY INCREASE THE AMOUNT THAT BANKS CAN LEND TO SINGLE BORROWERS SHE SAID MS WILLIAMS IS HEADING AN EFFORT TO REVIEW AND SIMPLIFY ALL OF COMPTROLLER'S REGULATIONS WHICH GOVERN ABOUT 3600 FEDERALLY CHARTERED BANKS THE GOAL IS TO ELIMINATE DUPLICATION CLARIFY AMBIGUITY AND MODERNIZE OUTMODED RULES WITHOUT REDUCING ATTENTION TO BANK SAFETY AND SOUNDNESS IN SOME CASES SUCH AS THE LENDING LIMITS THE REVISIONS COULD ALLOW CHANGES IN BANKING PRACTICES LENDING LIMITS WERE THE FIRST REGULATIONS THE COMPTROLLER ATTACKED THE PROPOSED CHANGES ARE AWAITING CLEARANCE BY THE TREASURY DEPARTMENT BEFORE THEY ARE ISSUED FOR PUBLIC COMMENT THE NEXT SET OF CHANGES THE COMPTROLLER IS LIKELY TO PROPOSE WILL DEAL WITH THE RULES GOVERNING INVESTMENT SECURITIES THESE CHANGES ARE LIKELY TO INCREASE THE AMOUNT OF MORTGAGEBACKED SECURITIES AND HIGHGRADE SECURITIZED PAPER BANKS CAN HOLD MS WILLIAMS SAID FEDERAL BANKING LAW BASICALLY LIMITS THE LOANS A BANK CAN MAKE TO ANY ONE BORROWER TO 15 OF THE SUM OF THE BANK'S CAPITAL AND SURPLUS ALTHOUGH THE LIMIT INCREASES TO 25 FOR BORROWERS WHO BACK LOANS WITH HIGHGRADE COLLATERAL THESE BASIC RATIOS WON'T CHANGE WHAT WILL CHANGE IS THE DEFINITION OF CAPITAL THAT BANKS USE TO CALCULATE THE RATIO AND THE WAY BANKS AGGREGATE LOANS MADE TO ONE BORROWER THE COMPTROLLER WILL PROPOSE THAT LENDING LIMITS BE CALCULATED QUARTERLY BASED ON A DEFINITION OF CAPITAL USED IN THE CALL REPORTS BANKS MUST FILE WITH REGULATORS CURRENTLY LENDING LIMITS SOMETIMES MUST BE CALCUATED WITH EACH LOAN AND THEY ARE BASED ON A DIFFERENT DEFINITION OF CAPITAL IN ADDITION THE NEW RULES WILL GIVE BANKS MORE FLEXIBILITY TO MEET EXISTING COMMITMENTS TO LARGE BORROWERS WHEN CAPITAL FALLS THIS COULD EASE CREDIT CONTRACTIONS FOR INDIVIDUAL BORROWERS THE THIRD SET OF CHANGES THE COMPTROLLER PLANS TO PROPOSE WILL DEAL WITH APPLICATIONS BY BANKS TO MAKE CORPORATE CHANGES SUCH AS OPENING BRANCHES SETTING UP OPERATING SUBSIDIARIES MAKING ACQUISITIONS OR PAYING DIVIDENDS UNDER THE CHANGES THE COMPTROLLER WILL PROPOSE STRONG BANKS THOSE IN THE TOP TWO OF FIVE CATEGORIES FOR MEASURING SOUNDNESS WILL BE ABLE SIMPLY TO NOTIFY THE COMPTROLLER THAT THEY ARE TAKING CERTAIN ACTIONS SUCH AS SETTING UP SPECIALIZED LENDING OR LEASING UNITS CURRENTLY THEY MUST FILE APPLICATIONS AND WAIT FOR PERMISSION WEAKER BANKS STILL WOULD HAVE TO FILE APPLICATIONS THE CORPORATECHANGE RULES REPRESENT A STEP TOWARD ONE OF COMPTROLLER EUGENE LUDWIG'S PRIMARY GOALS FOR STREAMLINING BANK REGULATION LIGHTENING REGULATIONS FOR FINANCIALLY STRONG BANKS MORE THAN FOR WEAKER BANKS THE REGULATION OF CORPORATE ACTIVITIES IS AN AREA THAT IS PRIMED TO DISTINQUISH BETWEEN STRONG WELLMANAGED BANKS AND THOSE THAT AREN'T MS WILLIAMS SAID THE COMPTROLLER'S REGULATORY REVIEW TEAM ALSO PLANS TO PROPOSE CHANGES IN INTERNATIONAL BANKING RULES ALSO IN THE PIPELINE ARE REVISED RULES GOVERNING FIDUCIARY ACTIVITIES 9311150121 931115 SECURITIES OFFERING CALENDAR THE FOLLOWING US TREASURY CORPORATE AND MUNICIPAL OFFERINGS ARE TENTATIVELY SCHEDULED FOR SALE THIS WEEK ACCORDING TO DOW JONES CAPITAL MARKETS REPORT KOREA ELECTRIC POWER CO 135 BILLION OF 10YEAR DEBT VIA LEHMAN BROTHERS INC ADVANCED TECHNOLOGY MATERIALS INC INITIAL TWO MILLION SHARES VIA NEEDHAM & CO AND ADVEST INC ALLIED LIFE FINANCIAL CORP INITIAL 27 MILLION SHARES VIA ALEX BROWN & SONS INC ARRIS PHARMACEUTICAL CORP INITIAL 25 MILLION SHARES VIA MONTGOMERY SECURITIES BOLLINGER INDUSTRIES INC INITIAL 14 MILLION SHARES VIA WILLIAM BLAIR & CO BURLINGTON MOTOR HOLDINGS 100 MILLION OF 10YEAR SENIOR SUBORDINATED NOTES VIA MERRILL LYNCH & CO CABLE DESIGN TECHNOLOGIES CORP INITIAL 34 MILLION SHARES VIA SMITH BARNEY SHEARSON INC CASTLE ENERGY CORP 9 MILLION SHARES VIA KIDDER PEABODY & CO CELL GENESYS INC 2 MILLION SHARES VIA CS FIRST BOSTON CHATEAU PROPERTIES INC INITIAL 57 MILLION SHARES VIA MERRILL LYNCH CHEVY CHASE SAVINGS BANK 150 MILLION OF 12YEAR SUBORDINATED CAPITAL NOTES VIA MERRILL LYNCH COFLEXIP INITIAL 67 MILLION OF AMERICAN DEPOSITARY SHARES VIA CS FIRST BOSTON FTP SOFTWARE INC INITIAL FOUR MILLION SHARES VIA MONTGOMERY FSI INTERNATIONAL INC 13 MILLION SHARES VIA NEEDHAM GENETIC THERAPY INC 25 MILLION SHARES VIA SMITH BARNEY SHEARSON GIANT INDUSTRIES 80 MILLION OF 10YEAR SENIOR SUBORDINATED NOTES VIA KIDDER PEABODY HARMON INTERNATIONAL INDUSTRIES INC 29 MILLION SHARES VIA MONTGOMERY SECURITIES HS RESOURCES INC 17 MILLION SHARES VIA LEHMAN BROTHERS HS RESOURCES INC 75 MILLION OF 10YEAR SENIOR SUBORDINATED NOTES VIA LEHMAN BROTHERS INTERMEDIA COMMUNICATIONS OF FLORIDA INC 21 MILLION SHARES VIA BEAR STEARNS & CO JACOR COMMUNICATIONS INC 48 MILLION SHARES VIA DONALDSON LUFKIN & JENRETTE SECURITIES CORP KOREA FUND INC UP TO 71 MILLION SHARES VIA LEHMAN BROTHERS LANDAIR SERVICES INC INITIAL TWO MILLION SHARES VIA ALEX BROWN & SONS MACERICH CO INITIAL 129 MILLION SHARES VIA LEHMAN BROTHERS MARTEK BIOSCIENCES CORP INITIAL 27 MILLION SHARES VIA HAMBRECHT & QUIST INC BEAR STEARNS AND SALOMON BROTHERS INC PRIME RETAIL INC INITIAL 135 MILLION SHARES VIA GOLDMAN SACHS & CO PUTNAM INVESTMENT GRADE MUNI TRUST III INITIAL FOUR MILLION SHARES VIA PAINEWEBBER INC QUAKER FABRIC CORP INITIAL 21 MILLION SHARES VIA SMITH BARNEY SHEARSON QUIKTURN DESIGN SYSTEMS INC INITIAL 24 MILLION SHARES VIA MORGAN STANLEY & CO ROBERDS INC INITIAL 27 MILLION SHARES VIA KIDDER PEABODY SAFESKIN CORP INITIAL 29 MILLION SHARES VIA SMITH BARNEY SHEARSON SANMINA CORP 22 MILLION SHARES VIA MONTGOMERY SIGNET STAR HOLDINGS INC INITIAL 59 MILLION SHARES VIA SALOMON BROTHERS TALBOTS INC INITIAL 11 MILLION VIA GOLDMAN SACHS TOWER AIR INC INITIAL 38 MILLION SHARES VIA GOLDMAN SACHS UNITED VIDEO SATELLITE GROUP INC INITIAL 41 MILLION SHARES VIA PAINEWEBBER UNITED WASTE SYSTEMS 22 MILLION SHARES VIA PAINEWEBBER WELBILT CORP INITIAL 48 MILLION SHARES VIA DONALDSON LUFKIN & JENRETTE WEST MARINE INC INITIAL 14 MILLION SHARES VIA MONTGOMERY GEORGIA 3454 MILLION OF GENERAL OBLIGATION BONDS VIA COMPETITIVE BID MASSACHUSETTS 240 MILLION OF GENERAL OBLIGATION NOTES VIA COMPETITIVE BID VIRGINIA 1839 MILLION OF VARIOUS SERIES 1993B BONDS VIA COMPETITIVE BID NEW YORK CITY 700 MILLION OF GENERAL OBLIGATION REFUNDING BONDS VIA A GOLDMAN SACHS GROUP MASSACHUSETTS WATER RESOURCE AUTHORITY 275 MILLION OF BONDS VIA A BEAR STEARNS GROUP NEW YORK HOUSING CORP 262 MILLION OF BONDS VIA A GOLDMAN SACHS GROUP CONNECTICUT HOUSING FINANCE AUTHORITY 225 MILLION OF BONDS VIA A PAINEWEBBER GROUP CALIFORNIA PUBLIC WORKS BOARD 180 MILLION OF BONDS VIA A PAINEWEBBER GROUP CHICAGO 175 MILLION OF SERIES 1993 GENERAL OBLIGATION BONDS VIA A WILLIAM BLAIR GROUP WISCONSIN HEALTH & EDUCATIONAL FACILITIES AUTHORITY 150 MILLION OF BONDS VIA A CS FIRST BOSTON GROUP 9311150120 931115 TECHNOLOGY QUIT SMOKING GRADUALLY NOT COLD TURKEY DATA SAY ATLANTA AP TAPERING OFF MAY TOP GOING COLD TURKEY WHEN IT COMES TO QUITTING CIGARETTES ADDICTION RESEARCHERS REPORTED SATURDAY THOSE WHO CAN DELAY THE DAY'S FIRST CIGARETTE OR GIVE UP SMOKING FOR A WEEK HAVE A GOOD CHANCE OF EVENTUALLY KICKING THE HABIT THE STUDY SAYS MAYBE OUR GOAL SHOULDN'T BE TO GET THEM TO QUIT SAID STUDY AUTHOR JOHN P PIERCE OF THE UNIVERSITY OF CALIFORNIA SAN DIEGO MAYBE OUR GOAL SHOULD BE TO GET THEM TO QUIT FOR AT LEAST A WEEK OR TO GET THEM UNDER 15 CIGARETTES A DAY HE SAID AT A MEETING OF THE AMERICAN SOCIETY OF ADDICTION MEDICINE THE STUDY PROVIDES A NEW VIEW OF QUITTING IN WHICH SMOKERS ARE ENCOURAGED TO MAKE PROGRESS BY SMOKING LESS AND QUITTING INTERMITTENTLY RATHER THAN STOPPING IMMEDIATELY A NOSMOKING PROGRAM DESIGNED FOR CALIFORNIA WAS BASED ON MR PIERCE'S FINDINGS IT HAS ENABLED 267 OF SMOKERS TO QUIT ROUGHLY TWICE THE RATE OF THOSE QUITTING WITHOUT THE PROGRAM DAVID ABRAMS OF BROWN UNIVERSITY IN PROVIDENCE RI AN AUTHORITY ON SMOKING CESSATION SAID THE FINDINGS CONFIRM AN EMERGING VIEW THAT QUITTING IS OFTEN A GRADUAL PROCESS NINETY PERCENT OF SMOKERS WHO TRY TO GO COLD TURKEY FAIL MR PIERCE SAID 9311150119 931115 VIDEOCART AUDITOR QUITS 2 CHAINS DROP SHOPPINGCART TESTS CHICAGO VIDEOCART INC SAID ITS OUTSIDE AUDITOR RESIGNED AND THAT TWO MORE SUPERMARKET CHAINS DISCONTINUED TESTS OF ITS ELECTRONIC SHOPPINGCART SCREEN TECHNOLOGY THE CHAINS BASHAS' MARKETS INC IN PHOENIX AND RALEY'S SUPERMARKETS IN SACRAMENTO CALIF REPRESENTED ABOUT 57 OF VIDEOCART'S YEARTODATE REVENUE THE COMPANY SAID IT DIDN'T DISCLOSE A DOLLAR AMOUNT VIDEOCART SAID IT WAS NOTIFIED BY ARTHUR ANDERSEN & CO THAT THE CHICAGOBASED ACCOUNTING FIRM NO LONGER WOULD AUDIT THE COMPANY'S BOOKS CHICAGOBASED VIDEOCART SAID ANDERSEN HAD NO DISAGREEMENTS WITH MANAGEMENT ON ANY ACCOUNTING PRINCIPLES OR PRACTICES FINANCIAL STATEMENTS OR DISCLOSURE ANDERSEN DIDN'T COMMENT VIDEOCART'S MOST RECENT FINANCIAL STATEMENTS ARE FOR THE SECOND QUARTER IN WHICH IT REPORTED EARNINGS OF 105 MILLION OR 65 CENTS A SHARE AFTER A NONRECURRING GAIN OF 131 MILLION OR 79 CENTS A SHARE FROM A DEBT RESTRUCTURING REVENUE FOR THE PERIOD TOTALED 16 MILLION IN NASDAQ MARKET TRADING FRIDAY VIDEOCART'S SHARES FELL 1875 CENTS OR 50 TO CLOSE AT 1875 CENTS EARLY LAST YEAR THE SHARES TRADED AS HIGH AS 14 VIDEOCART IS SEEKING TO SELL MERCHANTS ON THE USE OF TOUCHSCREENS THAT BOLT ONTO SHOPPING CART HANDLES AND HELP CONSUMERS LOCATE ITEMS IN A STORE ISSUE ELECTRONIC COUPONS FOR PURCHASES AND PROVIDE NEWS FROM GANNETT CO'S USA TODAY BASHAS' AND RALEY'S WITHDRAWAL FOLLOW THE DISCONTINUANCE OF TESTS EARLIER THIS YEAR AT SEVERAL DOZEN KROGER CO AND VONS COS SUPERMARKETS IN ATLANTA AND LOS ANGELES RESPECTIVELY 9311150118 931115 TECHNOLOGY A SPECIAL REPORT A NEW WORLD UP IN FLAMES EVEN THE OLDEST OLD HATS WERE NAIVE NEWBIES ONCE BUT AS USAGE SOARS THEY SOMETIMES FORGET BY JARED SANDBERG NORTHAMPTON MASS WHO LET THIS IDIOT IN HERE ASKS JENNY GUTBEZAHL ONLINE WHEN AN INTERNET DISCUSSIONGROUP NOVICE SAYS APROPOS OF NOTHING THAT SHE LIKES CATS MS GUTBEZAHL A 29YEAROLD GRADUATE STUDENT AT THE UNIVERSITY OF MASSACHUSETTS THEN COMPLAINS THAT SHE COULDN'T IMAGINE ANYONE BEING SO CLUELESS AS TO POST THAT DRIVEL TALK ABOUT A TOUGH CROWD BUT WHEN YOU'RE FLAMING A NEWBIE THE TOUGHER THE BETTER MS GUTBEZAHL WHOSE OWN CATS SLEEP BESIDE HER IS A MASTER AT FLAMING NEWBIES THE INTERNET SLANG FOR ABUSING NEW USERS BUT SHE CERTAINLY ISN'T ALONE NEWCOMERS ARE INVADING THE OLD INTERNET NEIGHBORHOOD AND THE OLDTIMERS ARE UPSET FOR MANY OF THEM FLAMING NEWBIES HAS BECOME AN OBSESSION AND AN ART NEW USERS WHO THINK THEY KNOW MORE THAN THEY DO REALLY BOTHER EXPERIENCED NETTERS' SAYS DAVID SPECTOR A NEW YORK COMPUTER CONSULTANT AND NETWORK VETERAN NEWBIES HE SAYS SHOOT THEIR MOUTHS OFF WITHOUT KNOWING WHAT THEY'RE SHOOTING THEIR MOUTHS OFF ABOUT NOT EVERY INTERNET VETERAN LIVES TO FLAME NEWBIES ALTHOUGH TO A NEWBIE IT MAY SEEM THAT WAY USERS LOG ON TO THE NETWORK TO SEARCH FOR INFORMATION SEND EMAIL AND OBTAIN FILES AND SOFTWARE WHICH ARE SOLITARY ENDEAVORS BUT ON USENET THE INTERNET'S ROUGHLY 3500 CHAT FORUMS ADDRESSING EVERYTHING FROM THE HARD SCIENCES TO USENETADDICTION RECOVERY NEWBIES ARE PRIME FOR FLAMING IN TEXTUAL SLUGFESTS THAT READ ONSCREEN LIKE CONVERSATIONS IN A PLAY I'M CHERYL WHO ARE YOU YOUR WORST NIGHTMARE IN THE INTERNET WORLD TIME AND TOLERANCE ARE SHORT NEWBIES ARE EXPECTED TO LEARN HOW TO USE THE NETWORK'S SOFTWARE PROPERLY AND WRITE CLEARLY GRAMMATICALLY AND TO THE POINT IN A UNIVERSE OF THE WRITTEN WORD WADING THROUGH MISTAKES IS LIKE HAVING TO DRIVE OVER POTHOLES NETTERS SAY HAPLESS USERS WHO REPEAT POINTS MADE EARLIER SIGNALING THEY HAVEN'T KEPT UP WITH A DISCUSSION BECOME LIKELY TARGETS FOR FLAMING AS DO PEOPLE WHO WASTE GROUP MEMBERS' TIME WITH DISPLAYS OF IGNORANCE MORE THAN ANYTHING NETTERS SAY JUST POSTING REALLY BORING STUPID STUFF STARTS A CONFLAGRATION AS FLAME RETARDANT NEW USERS HAVE ACCESS OFTEN FROM THEIR INTERNET PROVIDER TO VARIOUS ONLINE DOCUMENTS THAT CAUTION AGAINST SUCH ERRORS AS RUSHING TO POST A COMMENT WITHOUT SPENDING TIME GETTING FAMILIAR WITH A GROUP'S CONVENTIONS MOST GROUPS HAVE A FAQ A LIST OF FREQUENTLY ASKED QUESTIONS THAT NEW USERS SHOULD READ THE NEWBIES WHO ASK A QUESTION ALREADY ANSWERED IN THE FAQ SAYS RICK GORDON AN ENGINEER FROM WOODSIDE CALIF ARE PAINTING A KICK ME HARD' SIGN ON THEIR VIRTUAL POSTERIORS SIMILARLY POSTING A COMMENT TO THE WRONG AUDIENCE AS NEWBIES OFTEN DO ALSO CAN SET OFF SPARKS ASKING A MUSIC FORUM FOR A SHOW OF HANDS IN SUPPORT OF KAREN CARPENTER'S GREATEST HITS SAYS MR GORDON IS GROUNDS FOR A BRISK PUMMELING IF THE GROUP IS FULL OF RAPMUSIC FANS BUT NOT ALL INCENDIARY REMARKS ARE RESERVED FOR NEWBIES FLAME WARS CAN BREAK OUT AMONG SEASONED USERS TAKE FOR EXAMPLE THE TIME PEOPLE FROM THE GROUP KNOWN AS ALTTASTELESS STARTED POSTING SOME VERY TASTELESS REMARKS ABOUT FELINES TO THE RECPETSCATS FORUM THE COUNTERATTACK WAS VENOMOUS AND MANY PEOPLE FROM THE CATS FORUM ADVISED TASTELESS MEMBERS TO GET PSYCHOLOGICAL HELP A COUPLE OF THEM TRIED TO GET BACK AT US BY POSTING REALLY CUTE' STUFF ABOUT THEIR CATS SAYS MS GUTBEZAHL A SEASONED MEMBER OF ALTTASTELESS SIMILAR SPARKS FLY WHENEVER A TURK WHO CALLS HIMSELF SERDAR ARGIC POSTS ARTICLES MR ARGIC A MEMBER OF SOCCULTURETURKISH POSTS COMMENTS TO ANY GROUP IN WHICH THE WORD TURKEY HAS BEEN MENTIONED MANY VIEW HIS LONG ARTICLES AS PROTURKISH PROPAGANDA WHILE OTHERS JUST WISH HE WOULD STOP POSTING ALTOGETHER AS A RESULT A NEW NEWSGROUP ALTFANSERDARARGIC WAS STARTED SIMPLY FOR PEOPLE WHO WANT TO FLAME MR ARGIC ANOTHER GROUP ALTFLAME WAS STARTED SIMPLY FOR PEOPLE WHO JUST WANT TO FLAME AND FOR THE FLAMERS AUTUMN BRINGS THOUSANDS OF NEW COLLEGE INTERNET USERS ONLINE AS A RESULT THE FIRST FEW MONTHS OF SCHOOL ARE REGARDED IN SOME USENET CIRCLES AS FISHING SEASON IN WHAT IS CALLED TROLLING SOME REGULARS ON THE NETWORK ROUTINELY BAIT NEW USERS INTO MAKING FOOLS OF THEMSELVES BEFORE A GLOBAL AUDIENCE BY POSTING VERY SIMPLE QUESTIONS OR INTENTIONALLY FLOATING FALSE FACTS OR THE SAME SPELLING MISTAKE OVER AND OVER REGULARS LURE NEWBIES INTO CORRECTING THEM JUST FOR THE FUN OF SEEING WHO HASN'T BEEN READING THE GROUP IN ANY OF THE FIVE STAR TREKRELATED GROUPS READERS WHO RUSH TO ANSWER A QUESTION ASKING FOR THE CHARACTER JAMES KIRK'S MIDDLE NAME ARE REVEALING THAT THEY HAVEN'T BEEN READING THE MESSAGE TRAFFIC FOR VERY LONG THEY ARE RIPE FOR FLAMING BY THE WAY CAPT KIRK'S MIDDLE NAME IS WIDELY BELIEVED TO BE TIBERIUS THOUGH SOME SAY IT'S ROY FOR HER PART MS GUTBEZAHL SAYS A BAD MARRIAGE FORCED ME ONTO THE NET' AS A GRADUATE STUDENT SHE FOUND HERSELF SPENDING A LOT OF TIME AT THE COMPUTER IN HER CAMPUS OFFICE LOOKING FOR DISTRACTIONS FROM BOTH HER MASTER'S THESIS IN PSYCHOLOGY AND HER PERSONAL LIFE MS GUTBEZAHL SAYS SHE WANDERED INTO THE INTERNET AND DISCOVERED THE USENET DISCUSSION GROUPS WHERE SHE SOON STUMBLED UPON INVALUABLE INFORMATION FOR HER THESIS AS A RESULT OF CHATTING WITH MEMBERS OF PSYCHOLOGY AND STATISTICS FORUMS SHE FOUND MORE AND MORE KINDRED SPIRITS AND NOW SHE'S HOOKED MS GUTBEZAHL GRIPES WITH MEMBERS OF THE USENET GROUP CALLED ALTPEEVES A GLOBAL KVETCHING SESSION SHE SAYS SHE AND THE ROOMMATE SHE MET THROUGH THE INTERNET BREWED THEIR FIRST ALLGRAIN BEER WITH THE ADVICE AND SUPPORT OF SOME USENET HOMEBREWING ENTHUSIASTS SHE KEEPS UP WITH THE TRAFFIC IN ALTTASTELESS WHERE SHE HAS WON SOME RECOGNITION FOR HER SPECIAL SKILLS ON HER BEDROOM WALL BESIDE A HOLOGRAM OF A BLINKING JESUS CHRIST HANGS THE MS ALT TASTELESS AWARD FOR CONTINUAL OUTSTANDING CONTRIBUTIONS TO NEWBIE FLAMING I'VE HAD ONE OR TWO PEOPLE SAY THEY THOUGHT I WAS THE BEST FLAMER SAYS MS GUTBEZAHL WHICH I DON'T THINK IS TRUE BUT WAS VERY FLATTERING TO HEAR MR GORDON ONE OF THE ONLINE FRIENDS MS GUTBEZAHL HAS TRAVELED TO MEET IN PERSON POINTS OUT THAT SHE WAS A CONSPICUOUS NEWBIE HERSELF NOT SO LONG AGO WHEN SHE FIRST STARTED POSTING MR GORDON RECALLS SHE DREW FIRE FROM SEVERAL CORNERS MR SANDBERG IS A STAFF REPORTER IN THE WALL STREET JOURNAL'S NEW YORK BUREAU 9311150117 931115 ECONOMY GONZALEZ DEMANDS FED TURN OVER TAPES OF MONETARY SESSIONS WASHINGTON THE CHAIRMAN OF THE HOUSE BANKING COMMITTEE DEMANDED THAT THE FEDERAL RESERVE TURN OVER COPIES OF TRANSCRIPTS AND TAPES OF THE FED'S MONETARYPOLICY DELIBERATIONS FROM THE PAST 17 YEARS IN A LETTER TO FED CHAIRMAN ALAN GREENSPAN DATED NOV 9 BUT RELEASED BY THE COMMITTEE ON FRIDAY CHAIRMAN HENRY GONZALEZ ASKED FOR THE MATERIAL BY TODAY AND APPEARED TO BE THREATENING TO USE THE COMMITTEE'S SUBPOENA POWERS YOUR OBLIGATION TO COMPLY WITH THE COMMITTEE'S REQUEST IS NOT DISCRETIONARY THE TEXAS DEMOCRAT WROTE THE FED HADN'T ANY IMMEDIATE COMMENT BUT HAS LITTLE CHOICE BUT TO COMPLY WITH A SUBPOENA IF THE COMMITTEE VOTES TO ISSUE ONE AT A HEARING ON OCT 19 MR GREENSPAN DISCLOSED THE EXISTENCE OF TAPES AND UNEDITED TRANSCRIPTS OF MEETINGS OF ITS POLICYMAKING FEDERAL OPEN MARKET COMMITTEE GOING BACK TO 1976 ALTHOUGH FED OFFICIALS WERE AWARE THAT THEIR MEETINGS WERE BEING TAPED SEVERAL HAVE SAID THEY DIDN'T REALIZE THAT THE STAFF KEPT TAPES AND TRANSCRIPTS UNTIL MR GREENSPAN ALERTED THEM JUST BEFORE THAT HEARING MR GREENSPAN OPPOSES MR GONZALEZ'S PROPOSAL TO REQUIRE PUBLIC RELEASE OF TRANSCRIPTS AND VIDEOTAPES OF THE COMMITTEE'S MEETINGS AFTER A 60DAY LAG BUT SIX OF THE 12 REGIONAL FED BANK PRESIDENTS HAVE SAID THEY WOULD BE WILLING TO RELEASE DETAILED THOUGH EDITED RECORDS OF THEIR MEETINGS AFTER A LAG OF FIVE YEARS OR SO A PRACTICE THE FED ABANDONED IN 1976 FED GOVERNOR JOHN LAWARE HAS SUGGESTED A ONEYEAR DELAY THE FED CURRENTLY RELEASES A SUMMARY OF THE COMMITTEE'S DISCUSSIONS WITHOUT IDENTIFYING WHO SAID WHAT AFTER A DELAY OF ABOUT SIX WEEKS 9311150116 931115 INTERNATIONAL VW GM NEAR DEAL ON HIRING OF MANAGERS BY AUDREY CHOI STAFF REPORTER OF THE WALL STREET JOURNAL BONN VOLKSWAGEN AG AND GENERAL MOTORS CORP ARE CLOSE TO REACHING AN OUTOFCOURT SETTLEMENT TO RESOLVE A DISPUTE OVER VW'S EMPLOYMENT OF SEVEN FORMER GM MANAGERS A DEAL WHICH COULD COME EARLY THIS WEEK WOULD BRING TO AN END ONE OF THE LEGAL SIDESHOWS TO THE FIERCE INDUSTRIAL ESPIONAGE DISPUTE OVER FORMER GM PURCHASING CHIEF J IGNACIO LOPEZ DE ARRIORTUA GM CONTENDS THAT MR LOPEZ ABSCONDED WITH SENSITIVE GM DOCUMENTS WHEN HE JUMPED TO VW IN MARCH A SETTLEMENT IN THIS CASE WHICH GM CLAIMS WAS UNFAIR LABOR POACHING BY A COMPETITOR HINGES ON VW AGREEING TO BAR FOUR OF THE SEVEN MANAGERS FROM THEIR POSTS FOR A LIMITED TIME IN EXCHANGE FOR GM FORGOING AN EVENTUAL SUIT FOR DAMAGES INDIVIDUALS CLOSE TO THE CASE SAID THE SETTLEMENT WOULDN'T HAVE ANY EFFECT ON VW'S EMPLOYMENT OF MR LOPEZ HIMSELF IT COULD HOWEVER MEAN THE SIDELINING OF SEVERAL SENIOR EXECUTIVES WHO FORM AN INTEGRAL PART OF VW'S STRUGGLE TO LOWER ITS COSTS AND WOULD BE VIEWED AS A COUP FOR GM GM IN MAY LOST ITS PETITION FOR A ONEYEAR EMPLOYMENT BAN ON THE SEVEN MEN BUT ADDITIONAL EVIDENCE CONCERNING VW'S HIRING PROCEDURES HAD STRENGTHENED GM'S CASE SINCE THEN AND ENCOURAGED VW TO CONSENT TO A COMPROMISE THE INDIVIDUALS SAID THE SETTLEMENT NOW BEING HAMMERED OUT COMES AS A RESULT OF FRANKFURT APPEALS COURT JUDGE FRITZ TRAUB LEANING ON THE TWO CAR GIANTS LAST WEEK UNABLE TO FINALIZE THE DETAILS BY FRIDAY THE DATE RECOMMENDED BY JUDGE TRAUB THE COMPANIES WERE GIVEN UNTIL MIDNIGHT TONIGHT INDIVIDUALS CLOSE TO THE NEGOTIATING TEAMS HOWEVER STRESSED THAT REACHING FULL AGREEMENT COULD REQUIRE MORE TIME AND THAT THE COURT WOULD LIKELY ALLOW EXTENSIONS IF NECESSARY OFFICIALS FROM BOTH VW AND GM DECLINED ANY OFFICIAL COMMENT AS BOTH SIDES WERE BOUND BY THE COURT TO CONFIDENTIALITY CONCERNING SPECIFICS OF THE DEAL BUT ACCORDING TO A REPORT TO BE PUBLISHED IN THIS WEEK'S ISSUE OF DER SPIEGEL THE GERMAN MAGAZINE VW HAS AGREED IN PRINCIPLE TO BAR TOP MANAGERS JOSE MANUEL GUTIERREZ HUGO VAN DER AUWERA FRANCISCO GARCIA SANZ AND JORGE ALVAREZAGUIRRE FROM THEIR JOBS AS PURCHASING EXECUTIVES FOR EIGHT MONTHS THE MEN MAY BE EMPLOYED ELSEWHERE IN THE CORPORATION DURING THAT TIME ACCORDING TO DER SPIEGEL VW CHAIRMAN FERDINAND PIECH ALSO WILL HAVE TO PRESENT A FORMAL APOLOGY FOR PUBLIC STATEMENTS HE MADE THIS SUMMER CHARACTERIZING THE DISPUTE AS A MUDSLINGING WAR AND INSINUATING THAT GM MIGHT HAVE MANIPULATED THE EVIDENCE OR PLANTED ITS OWN SECRET DATA IN VW COMPUTERS TO CAST SUSPICION ON VW MEANWHILE GM'S PROMISE NOT TO SUE VW FOR DAMAGES WOULD APPLY ONLY TO THIS CASE SEPARATELY VW'S DISCUSSIONS WITH ITS WORKERS COUNCIL AND THE IG METALL LABOR UNION OVER INTRODUCING A FOURDAY WORK WEEK ARE MAKING SLOW PROGRESS ACCORDING TO A VW SPOKESMAN TALKS LATE LAST WEEK LED TO BASIC AGREEMENT BUT NOW WE HAVE TO DO OUR CALCULATIONS THE VW OFFICIAL SAID AND THAT'S WHERE THE DIFFICULTIES ARISE IG METALL REJECTED VW'S PROPOSAL OF A 20 REDUCTION IN PAY FOR A 20 REDUCTION IN WORKING HOURS TO 288 HOURS PER WEEK INSTEAD OF THE CURRENT 36 HOURS A WEEK FOR ITS PART IG METALL NEGOTIATOR JUERGEN PETERS SAID IG METALL WAS WILLING UNDER CERTAIN CIRCUMSTANCES TO SUSPEND A SCHEDULED 35 PAY INCREASE DUE WORKERS FROM NOVEMBER MORE MEETINGS ARE SCHEDULED FOR THURSDAY VW SAID 9311150115 931115 TECHNOLOGY A SPECIAL REPORT THE BASICS KEEPING THE PEACE WHERE FORMAL RULES LEAVE OFF PEER PRESSURE OFTEN ENSURES THAT NETIQUETTE IS OBSERVED BY MICHAEL WOFSEY COMMUNITY BULLETINBOARD RULES WERE SIMPLE WHEN THE BOARD WAS MADE OF CORK STOOD BY THE LOCAL SUPERMARKET'S FRONT DOOR AND LET NEIGHBORS POST ANNOUNCEMENTS OF GARAGE SALES EDITORIAL CONTROL WAS ABSOLUTE IF THE STORE MANAGER DIDN'T WANT TO SEE YOUR AD BEGGING SOMEONE TO BUY YOUR RUSTY BICYCLE IT WENT INTO THE TRASH NOW THAT BULLETIN BOARDS HAVE GONE ELECTRONIC THE RULES AREN'T SO CLEARLY DEFINED SOME SYSTEMS HAVE EXTREMELY SOPHISTICATED CENSORSHIP PROGRAMS THAT SCAN POSTINGS TO REMOVE CERTAIN WORDS OTHER SYSTEMS ALERT USERS TO SUCH COMMON RULES AS RESTRICTIONS ON PROFANITY RACIAL OR ETHNIC SLURS AND HARASSING LANGUAGE AND RELY ON DISCUSSION MODERATORS AND SELFPOLICING FOR ENFORCEMENT TODAY PRODIGY RUN BY INTERNATIONAL BUSINESS MACHINES CORP AND SEARS ROEBUCK & CO IS KNOWN AS THE NETWORK EXERCISING THE MOST STRINGENT EDITORIAL CONTROL THE UPSHOT IS THAT PRODIGY IS POPULAR AMONG PARENTS FOR THEIR CHILDREN AND THE SERVICE ALSO HAS A HIGH PERCENTAGE OF FEMALE USAGE 35 COMPARED WITH JUST 10 ON COMPUSERVE FOR EXAMPLE THE INTERNET AND COMPUSERVE WHICH IS OWNED BY H&R BLOCK INC HAVE NO CONTENT RESTRICTIONS AND DISPLAY EVERYTHING FROM BRILLIANT DISCUSSIONS ABOUT DOSTOEVSKY TO RAW DISCUSSIONS OF SEX ON THEIR BULLETIN BOARDS AND DISCUSSION GROUPS USENET THE INTERNET BULLETIN BOARD HAS SEVERAL GROUPS THAT REGULARLY DISCUSS THE INTRICACIES OF MAKING PLASTIC EXPLOSIVES AND HOLLOWPOINT BULLETS AS WELL AS GROUPS DEVOTED TO BESTIALITY AND TORTURE NOT ONLY IS ALL OF THIS PROTECTED UNDER FREESPEECH LAWS BUT MANY ARGUE THAT OVERTHETOP CONTENT GENERALLY IS DROWNED IN AN OCEAN OF FAIRLY HARMLESS AND OFTEN CONSTRUCTIVE DIALOGUE MONEY CAN SET RESTRICTIONS TOO COMPUSERVE'S FEEBASED SYSTEM OFTEN DISCOURAGES SOME OF THE MOST RAUCOUS USERS FROM RAMBLING ON COMPARED WITH A LARGELY FREEACCESS BULLETIN BOARD LIKE USENET SELFPOLICING ISN'T AS NAIVE AS IT SOUNDS DISCUSSION GROUPS AND LOCAL BULLETIN BOARDS FORM AS MAGNETS FOR PEOPLE OF SIMILAR INTERESTS WHO WANT TO SHARE THEIR VIEWS POST YOUR OPINION OF A RECENT POLITICAL EVENT AND YOU WILL QUICKLY GET RESPONSES BY ELECTRONIC MAIL IF YOUR SUBJECT IS CONTROVERSIAL ABORTION SAY THE REACTIONS MAY BE VEHEMENT ENOUGH TO SCARE YOU OFF AND NUMEROUS ENOUGH TO DISABLE YOUR MAILBOX EVEN WHEN THE TOPIC SEEMS INNOCUOUS MANY PEOPLE WHO EASILY HANDLE FACETOFACE CONFRONTATION FIND IT PAINFUL TO DEAL WITH HUNDREDS OF ELECTRONIC TONGUELASHINGS FOR THEIR VIEWS ON SAY THE FEDERAL RESERVE CURRENTLY MOST COURTS DON'T HOLD COMPUTER NETWORKS RESPONSIBLE FOR THE CONTENT OF THEIR BULLETIN BOARDS SOME NETWORKS FEAR CONTROLLING EDITORIAL CONTENT WILL ESTABLISH RESPONSIBILITY AND SUBJECT THEM TO LIBEL LAWS MANY BULLETIN BOARDS HAVE MODERATORS FOR THEIR DISCUSSION GROUPS WHO KEEP PARTICIPANTS ONTOPIC AND SEE THAT THEY ABIDE BY THE RULES ALTHOUGH THEY ARE ALLOWED TO RESTRICT ACCESS TO PUNISH VIOLATORS MOST OF THEM RARELY HAVE TO RESORT TO SUCH MEASURES THE SELFPOLICING ASPECTS OF ONLINE COMMUNITIES ARE USUALLY EFFICIENT ENOUGH IF YOUR NOTE IS CONDESCENDING TOO LONG OR OBJECTIONABLE TO SOMEBODY THERE ARE MILLIONS OF PEOPLE EAGER TO TELL YOU SO EVERY SO OFTEN A BIT OF ONLINE FERVOR SPILLS INTO REAL LIFE MIKE GODWIN AN ATTORNEY WITH THE ELECTRONIC FRONTIER FOUNDATION A WASHINGTON DCBASED ADVOCACY ORGANIZATION ONCE ACCEPTED A CHALLENGE TO DUEL WITH ONE NETWORK BULLY WHO REGULARLY THREATENED PEOPLE IN A PHILOSOPHY DISCUSSION GROUP AND DECLARED HIS FAMILIARITY WITH GUNS AND SWORDS HE WANTED ME TO PICK DEADLY WEAPONS SAYS MR GODWIN HE WANTED TO KILL ME MR GODWIN'S WEAPON OF CHOICE WAS TRIVIAL PURSUIT AND THE BATTLE WAS TO OCCUR AT THE LAWYER'S HOME THE BULLY NEVER SHOWED UP CLAIMING HE DIDN'T WANT TO WASTE HIS TIME WITH A BOARD GAME I WAS NEVER WORRIED THAT I WAS GOING TO GET HURT BY THE GUY MR GODWIN SAYS I THOUGHT I WOULD CALL HIS BLUFF IN THEORY THREATS OF ASSAULT THROUGH COMPUTER NETWORKS ARE TAKEN AS SERIOUSLY AS THEY WOULD BE IF MADE THROUGH THE MAIL OR OVER THE PHONE UNLIKE THE US POST OFFICE HOWEVER NETWORK SYSTEMS ARE NOT EQUIPPED TO DEAL WITH A THREATENING LETTER SENT BY WAY OF ELECTRONIC MAIL LAWENFORCEMENT AGENCIES ARE STILL NOT CONVERSANT WITH THE SYSTEMS EVEN THOUGH THEY RECOGNIZE THE POTENTIAL ABUSE I THINK IT WILL BE AN INCREASING PROBLEM BECAUSE IN 10 OR 15 YEARS NEARLY EVERYONE WILL HAVE A COMPUTER AND THAT WILL BE THE WAY THEY TALK SAYS RICHARD SMITH A SPECIAL AGENT WITH THE FEDERAL BUREAU OF INVESTIGATION WE TRY TO KEEP UP WITH THE CHANGES IN THE INDUSTRY BY TRAINING OUR PEOPLE TO USE COMPUTERS PARTICULARLY IN WASHINGTON DC 9311150114 931115 PENTAGON TO SEEK AT LEAST 300 MILLION TO HELP PAY FOR OPERATIONS IN SOMALIA BY THOMAS E RICKS STAFF REPORTER OF THE WALL STREET JOURNAL WASHINGTON THE DAY AFTER PRESIDENT CLINTON SIGNED THE 1994 DEFENSE BUDGET INTO LAW THE PENTAGON SAID IT NEEDS AT LEAST 300 MILLION MORE TO PAY FOR OPERATIONS IN SOMALIA THE ADMINISTRATION IS LIKELY TO REQUEST THE ADDITIONAL FUNDS SOMETIME IN THE NEXT COUPLE OF MONTHS A SENIOR DEFENSE DEPARTMENT OFFICIAL SAID WHEN IT DOES IT IS LIKELY TO SPARK A NEW ROUND OF CONGRESSIONAL DEBATE OVER THE US PRESENCE IN SOMALIA ESPECIALLY IF THE MISSION LEADS TO ADDITIONAL US CASUALTIES IN THE COMING WEEKS US FORCES IN SOMALIA WHICH RECENTLY HAVE STAYED IN DEFENSIVE COMPOUNDS HAVE SIGNALLED THAT THEY INTEND TO TAKE A MORE AGGRESSIVE STANCE FOR INSTANCE THEY PLAN TO USE ARMORED VEHICLES TO CLEAR THE CITY'S STREETS OF ROADBLOCKS AND MINES PLACED BY THE FORCES OF WARLORD MOHAMMED FARRAH AIDID SOME OFFICERS PRIVATELY HAVE QUESTIONED SUCH ACTION SAYING ITS OBJECTIVE ISN'T CLEAR THE DEFENSE DEPARTMENT OFFICIAL WHO SPOKE ON CONDITION OF ANONYMITY ALSO WAS BLUNTLY CRITICAL OF THE ARMY SINGLING IT OUT FOR NOT CUTTING ITS OVERHEAD COSTS AS EFFICIENTLY AS THE NAVY AND AIR FORCE HAVE SUCH DIRECT CRITICISM OF ONE SERVICE BY A SENIOR DEPARTMENT OFFICIAL IS UNUSUAL BUT REFLECTS THE CONTINUING TENSION BETWEEN THE ARMY AND THE OFFICE OF DEFENSE SECRETARY LES ASPIN AIDES TO MR ASPIN ARE PARTICULARLY SENSITIVE TO QUESTIONS ABOUT THE SIZE AND READINESS OF THE ARMY ESPECIALLY BECAUSE SEVERAL PROMINENT FORMER GENERALS RECENTLY CHARGED AT A CONGRESSIONAL HEARING THAT THE ARMY SOON WOULD BE TOO SMALL FOR THE VARIOUS MISSIONS IT IS BEING GIVEN THE ARMY CURRENTLY HAS ABOUT 570000 ACTIVEDUTY MEMBERS AND IS SCHEDULED TO SHRINK BY ABOUT 30000 OVER THE NEXT TWO YEARS MANY IN THE ARMY IN TURN ARE UPSET WITH MR ASPIN FOR HIS REJECTION OF A REQUEST IN SEPTEMBER TO SEND TANKS AND OTHER ARMORED VEHICLES TO HELP PROTECT US TROOPS IN SOMALIA THE DEFENSE DEPARTMENT OFFICIAL ACKNOWLEDGED THAT THE REQUEST FOR ADDITIONAL FUNDS MIGHT MEET RESISTANCE IN CONGRESS BUT INDICATED THE ADMINISTRATION WOULD ARGUE THAT THE MONEY IS NEEDED TO MAINTAIN THE READINESS OF US FORCES IF IT ISN'T GRANTED HE SAID IT WILL HAVE TO COME OUT OF CURRENT OPERATIONS AND MAINTENANCE FUNDS CAUSING A CURTAILING OF TRAINING AND OTHER MILITARY OPERATIONS THERE ARE NO EASY CUTS LEFT IN THIS DEFENSE BUDGET HE SAID CONGRESS PASSED THE FINAL VERSION OF THE 261 BILLION DEFENSE BUDGET LAST WEDNESDAY BUT PROVIDED NO SPECIAL FUNDS FOR THE SOMALIA MISSION INDEED EARLIER THIS YEAR MR ASPIN HAD ASKED FOR EARMARKED PEACEKEEPING FUNDS BUT THOSE WERE DELETED BY MEMBERS OF CONGRESS UPSET WITH THE ADMINISTRATION'S HANDLING OF PEACEKEEPING IN SOMALIA AND WORRIED THAT IT INTENDED TO EMBARK ON A SIMILAR MISSION IN BOSNIA LAST SPRING CONGRESS DID APPROVE A SUPPLEMENTAL BUDGET BILL OF 800 MILLION TO PAY FOR 1993 OPERATIONS IN SOMALIA THE TOTAL COST OF THE SOMALIA OPERATION FROM DECEMBER 1992 THROUGH SEPTEMBER OF THIS YEAR WAS 9815 MILLION THE PENTAGON DISCLOSED FRIDAY US CASUALTIES IN THE FACTIONRIDDEN AFRICAN NATION HAVE CLIMBED PAST THOSE INCURRED IN THE INTERVENTIONS IN GRENADA AND PANAMA AND ARE NOW APPROACHING THE TOLL OF THE PERSIAN GULF WAR THUS FAR 34 US SOLDIERS HAVE DIED IN SOMALIA AND ABOUT 180 HAVE BEEN WOUNDED 9311150112 931115 POLITICS & POLICY GRAINELEVATOR LEGISLATION FAVORED BY CONAGRA FAILS WASHINGTON CONGRESS REJECTED CONAGRA INC'S REQUEST FOR LEGISLATION ALLOWING ITS GRAIN ELEVATORS TO CONTINUE SPRAYING WATER ON CROPS A PRACTICE THAT IS THE SUBJECT OF A CRIMINAL PROBE THE OMAHA NEB AGRICULTURALPRODUCTS CONCERN HAS SAID ITS ELEVATORS USE ONLY ENOUGH WATER TO CONTROL DUST THAT MIGHT OTHERWISE TRIGGER EXPLOSIONS BUT THE JUSTICE DEPARTMENT IS INVESTIGATING AMONG OTHER THINGS WHETHER CONAGRA ELEVATORS USE EXCESSIVE WATER TO INCREASE GRAIN'S WEIGHT AND THUS ITS VALUE THE DECISION CLEARS THE WAY FOR A PROPOSAL BY THE AGRICULTURE DEPARTMENT TO PROHIBIT THE USE OF WATER BY ELEVATORS FOR DUST CONTROL THE DEPARTMENT IS SLATED TO FINISH COLLECTING COMMENTS IN EARLY DECEMBER ON THE PROPOSED BAN CONAGRA'S IDEA OF CREATING A WATER PERMIT SYSTEM WAS ORIGINALLY INCLUDED IN A SENATE BILL TO REAUTHORIZE THE DEPARTMENT'S FEDERAL GRAIN INSPECTION SERVICE HOWEVER THE PERMIT SYSTEM WAS LATER DROPPED THE BILL WHICH REAUTHORIZES THE GRAININSPECTION AGENCY FOR SEVEN YEARS GOES TO PRESIDENT CLINTON A CONAGRA SPOKESWOMAN DECLINED COMMENT FRIDAY THE USE OF WATERING SYSTEMS IN THE GRAIN INDUSTRY WAS THE SUBJECT OF A JULY 1 FRONTPAGE WALL STREET JOURNAL ARTICLE 9311150111 931115 POWER AGENCY FACES A SNAG ON BOND SALE BPA'S RESTRUCTURING EFFORT ENCOUNTERS OBJECTIONS FROM TREASURY CBO BY JOHN CONNOR SPECIAL TO THE WALL STREET JOURNAL WASHINGTON A PLAN TO ALLOW THE BONNEVILLE POWER ADMINISTRATION TO SELL BONDS TO REPAY ABOUT 7 BILLION IN INTERGOVERNMENTAL DEBT HAS BEEN SIDETRACKED THE DEBT RESTRUCTURING PLAN WHICH HAS SOME WALL STREET INVESTMENT BANKERS LICKING THEIR CHOPS AT THE PROSPECT OF A MAJOR UNDERWRITING OPPORTUNITY WAS INCLUDED IN A BILL INTRODUCED RECENTLY AS THE FIRST INSTALLMENT ON THE RECOMMENDATIONS OF VICE PRESIDENT AL GORE'S REINVENTING GOVERNMENT TASK FORCE THE TASK FORCE PROJECTED HEFTY SAVINGS BY ALLOWING THE BPA TO ISSUE BONDS AT MARKET RATES AND REPAY ITS LOWINTEREST TREASURY LOANS OR ALTERNATIVELY BY ALLOWING FEDERAL POWER MARKETING ENTITIES TO RECOVER MORE OPERATING COSTS THROUGH HIGHER RATES BPA A FEDERAL AGENCY THAT MARKETS POWER IN THE PACIFIC NORTHWEST IS TOUTING THE DEBT RESTRUCTURING APPROACH AS A BOON TO TAXPAYERS AND TO CONSUMERS OF ITS POWER IN THE REGION BUT CONCERNS RAISED BY THE CONGRESSIONAL BUDGET OFFICE AND THE TREASURY HAVE HELPED TO STALL THE PLAN AT LEAST FOR NOW CBO THE OFFICIAL CONGRESSIONAL SCOREKEEPER IN SUCH MATTERS ARGUED THAT THE PLAN WOULD LOSE MONEY RATHER THAN PROVIDE SAVINGS WHILE THE CBO HASN'T YET RELEASED ITS ESTIMATE AGENCY OFFICIALS PREDICTED THAT THE PROPOSAL WOULD COST TENS OF MILLIONS OF DOLLARS AND THE TREASURY HAS OBJECTED TO ALLOWING FEDERAL AGENCIES TO BORROW ON THEIR OWN IN THE CAPITAL MARKETS BOTH THE TREASURY AND CBO MAINTAIN THAT NO US AGENCY CAN BORROW MORE CHEAPLY IN THE MARKETPLACE THAN THE TREASURY THEIR CONCERNS WERE INSTRUMENTAL IN THE HOUSE NATURAL RESOURCES COMMITTEE SHELVING THE PROPOSED BPA MARKET BORROWING AUTHORITY FOR NOW IN LIEU OF A FASTTRACK STUDY OF THE PLAN DUE EARLY NEXT YEAR STILL WITH HOUSE ACTION ON THE SOCALLED GOVERNMENT REFORM ACT EXPECTED SOON AND SEVERAL OTHER COMMITTEES INVOLVED ATTEMPTS TO REVIVE THE BORROWING PLAN AREN'T BEING RULED OUT BPA MAINTAINS THAT THE PLAN WOULD PROVIDE THE TREASURY WITH A ONETIME INFUSION OF BILLIONS OF DOLLARS BPA ADMINISTRATOR RANDALL HARDY RECENTLY TOLD CONGRESS THAT THE PLAN WOULD ENTAIL BPA'S SALE OF BONDS AT MARKET RATES TO REPAY ITS 7 BILLION OF LOWINTEREST APPROPRIATED DEBT HE SAID THIS WOULD PROVIDE ABOUT A 4 BILLION NET CASH INFLOW TO THE TREASURY AND HE SAID THE ENERGY SECRETARY HAS INDICATED THAT THE PLAN WOULDN'T HARM BPA CUSTOMERS MR HARDY SAID THAT THE INTERESTS OF THE FEDERAL TAXPAYERS WHO FINANCED THE CONSTRUCTION OF THE BPA'S DAMS IN THE NORTHWEST WOULD BE PROTECTED BY AN UPFRONT PAYMENT OF 4 BILLION IN LIEU OF PRINCIPAL AND INTEREST PAYMENTS BONNEVILLE WOULD OTHERWISE MAKE OVER THE NEXT 50 YEARS SEPARATELY THREE FEDERAL AGENCIES CONTINUE TO CONSIDER A REQUEST BY OGLETHORPE POWER CORP THAT IT BE ALLOWED TO SELL BONDS TO REFINANCE SOME 3 BILLION IN FEDERALLY GUARANTEED DEBT HELD BY THE TREASURY'S FEDERAL FINANCING BANK OGLETHORPE AN ATLANTA ELECTRIC COOPERATIVE WHOSE MARKET REFINANCING PROPOSAL IS BEING REVIEWED BY THE TREASURY THE OFFICE OF MANAGEMENT AND BUDGET AND THE AGRICULTURE DEPARTMENT IS SEEKING A PART WAIVER OF PREPAYMENT PENALTIES IN RETURN IT WOULDN'T SEEK FUTURE GUARANTEES FROM THE RURAL ELECTRIFICATION ADMINISTRATION OGLETHORPE IS WILLING TO PAY PREPAYMENT PENALTIES OF 150 MILLION TO 200 MILLION DEPENDING ON INTEREST RATES A SENIOR COMPANY OFFICIAL SAID BUT FEDERAL OFFICIALS REVIEWING THE PROPOSAL WANT TO BE SURE TAXPAYERS ARE FULLY PROTECTED 9311150110 931115 CEMENT MAKERS IN JAPAN POST DROP IN PROFIT NIHON SUMITOMO DECLINE BUT OTHER FIRMS' PLAN TO MERGE LIFTS HOPES SPECIAL TO THE WALL STREET JOURNAL TOKYO UNDER THE WEIGHT OF RECESSION TWO MORE JAPANESE CEMENT MAKERS REPORTED DISMAL EARNINGS FOR THE FIRST HALF ENDED SEPT 30 BUT HOPES ARE MOUNTING IN THE INDUSTRY THAT THE MERGER PLAN ANNOUNCED THURSDAY BY TWO OTHER BIG CEMENT MAKERS WILL MITIGATE THE CURRENT BUSINESS SLUMP BY REDUCING PRICEUNDERMINING COMPETITION NIHON CEMENT CO FOR NOW AT THE TOP IN TERMS OF DOMESTIC CEMENT SALES REPORTED THAT UNCONSOLIDATED OR PARENT ONLY PRETAX PROFIT PLUNGED 30 FROM THE YEAREARLIER HALF TO 224 BILLION YEN 209 MILLION FROM 317 BILLION YEN DURING THE HALF NIHON SAID SALES OF SECURITIES TOTALING 220 BILLION YEN BARELY PREVENTED THE COMPANY FROM SHOWING A PRETAX LOSS THE NO 4 CEMENT MAKER SUMITOMO CEMENT CO POSTED A 22 TUMBLE IN PRETAX PROFIT TO 111 BILLION YEN FROM 141 BILLION SUMITOMO SAID NET INCOME REMAINED LARGER THAN PRETAX PROFIT BECAUSE OF PROCEEDS FROM THE SALE OF LAND BUT CHICHIBU CEMENT THE PARTNER OF THE PENDING MERGER WITH ONODA CEMENT CO REPORTED A SKYROCKETING RISE IN PRETAX PROFIT IN PART BECAUSE OF SALES OF SECURITIES CHICHIBU SAID ITS PRETAX PROFIT MORE THAN DOUBLED TO 558 MILLION YEN FROM 221 MILLION CHICHIBU SAID IT POSTED A NONBUSINESS PROFIT OF 123 BILLION YEN FROM SALES OF SECURITIES HELD BY THE COMPANY FOR THE FULL FISCAL YEAR CHICHIBU'S FORECAST CALLS FOR A 98 RISE IN PRETAX PROFIT EXCESS CAPACITY HAS PLAGUED THE CEMENT INDUSTRY AFTER A FIVEYEAR PLANTIDLING PHASE ENDED IN 1991 JAPAN'S CEMENT MAKERS STEPPED UP FACTORY OPERATION RATES TO MEET DEMAND FROM BOTH PRIVATE AND PUBLIC SECTORS BUT THE SAG IN THE ECONOMY HAS LED TO AN OVERSUPPLY IN CEMENT PRODUCTS PRICE RISES FOR CEMENT ARE VIEWED AS NECESSARY TO BOOST PROFITS INDUSTRY OFFICIALS HAVE SAID ALSO WEIGHING ON PRICES IS FIERCE COMPETITION AMONG JAPAN'S 22 CEMENT MAKERS BUT THE MERGER TO TAKE EFFECT OCT 1 1994 WILL THIN THOSE RANKS WHILE CREATING JAPAN'S LARGEST CEMENT MAKER BY BRINGING TOGETHER NO 2 ONODA AND NO 6 CHICHIBU THE NEW COMPANY WILL HAVE A 24 SHARE OF THE DOMESTIC MARKET WE HOPE WE CAN TAKE THE CHANCE THAT CEMENT PRICES WOULD PICK UP ON THE STRENGTH OF THE MERGER AN OFFICIAL OF NIHON CEMENT TOLD REPORTERS JAPANESE CEMENT MAKERS INITIALLY EXPECTED THAT THEIR BUSINESS WOULD TURN FOR THE BETTER IN LIGHT OF A SERIES OF HUGE GOVERNMENT FISCAL PACKAGES FOR PUBLIC WORKS PROJECTS BUT COOL AND WET WEATHER OVER THE SUMMER DELAYED PROGRESS IN THOSE PROJECTS IN ADDITION A WAVE OF SUSPENSIONS OF LEADING CONSTRUCTION COMPANIES FROM BIDDING FOR PUBLIC WORKS CONTRACTS HAS STALLED PROJECTS A NUMBER OF HIGHLEVEL EXECUTIVES OF CONSTRUCTION COMPANIES HAVE BEEN ARRESTED BY PROSECUTORS IN RECENT MONTHS ON SUSPICION OF BRIBING LOCAL GOVERNMENT OFFICIALS FOR FAVORS IN AWARDING PROJECTS 9311150109 931115 WHO'S NEWS PPG DISCLOSES TERMS OF SALARY AND BONUS FOR NEW TOP OFFICER PITTSBURGH PPG INDUSTRIES INC IS PAYING ITS NEW CHAIRMAN AND CHIEF EXECUTIVE JERRY E DEMPSEY A 600000 SALARY AND AN ANNUAL BONUS OF AT LEAST 400000 IN A FILING WITH THE SECURITIES AND EXCHANGE COMMISSION THE PRODUCER OF GLASS CHEMICALS AND COATINGS DISCLOSED THAT IT GAVE MR DEMPSEY 5000 SHARES OF COMMON STOCK TO HELP LURE HIM FROM CHEMICAL WASTE MANAGEMENT INC WHERE HE WAS CHAIRMAN HE CAN'T SELL THE SHARES UNTIL AUG 1 1996 AND HE GOT A STOCKOPTION GRANT FOR 25000 SHARES AT AN EXERCISE PRICE OF 6925 EACH MR DEMPSEY CAN EXERCISE THE OPTIONS AFTER AUG 2 1994 MR DEMPSEY WHO TOOK OVER PPG'S TOP SPOT SEPT 1 WILL RECEIVE A BONUS OF AT LEAST 170000 THIS YEAR THE MINIMUM 400000 ANNUAL BONUS FOR 1994 AND 1995 IS ABOUT HALF OF THE TARGET BONUS PPG SET FOR HIM THE COMPANY SAID WHETHER MR DEMPSEY MAKES MORE OR LESS THAN THE TARGET AMOUNT IS BASED LARGELY ON GOALS THE COMPANY SETS FOR EARNINGS AND CASH FLOW MR DEMPSEY 61 YEARS OLD SUCCEEDED VINCENT A SARNI WHO RETIRED PPG IN 1992 PAID MR SARNI A 575000 SALARY AND A 785000 BONUS HE ALSO RECEIVED STOCKOPTION AWARDS OF 183062 SHARES MR DEMPSEY HAS OFFERED NO CLUES OF HIS PLANS FOR PPG BUT HE IS CONSIDERED A CARETAKER CHIEF EXECUTIVE WHOSE MAIN TASK IS TO GROOM THREE INTERNAL CANDIDATES WHO WERE CONSIDERED TOO INEXPERIENCED THIS YEAR FOR THE CEO'S SPOT 9311150108 931115 BUSINESS BRIEF CYPRUS MINERALS' PROPOSAL TO PURCHASE AMAX RECEIVES SHAREHOLDER APPROVAL NEW YORK SHAREHOLDERS OF CYPRUS MINERALS CO AND AMAX INC VOTED IN SEPARATE MEETINGS TO APPROVE THE ACQUISITION OF AMAX BY CYPRUS ABOUT 77 OF CYPRUS SHARES ELIGIBLE TO VOTE WERE VOTED FOR THE DEAL ABOUT 83 OF ELIGIBLE AMAX VOTES WERE VOTED IN FAVOR THE COMPANIES SAID THEY EXPECT THE ACQUISITION TO BE COMPLETED TODAY THE NEW COMPANY WILL BE CALLED CYPRUS AMAX MINERALS CO AND WILL BE ONE OF THE LARGEST MINING COMPANIES IN THE US UNDER TERMS OF THE BUYOUT AMAX SHAREHOLDERS WILL RECEIVE ONEHALF OF A CYPRUS SHARE FOR EACH SHARE OF AMAX COMMON STOCK IN ADDITION AMAX'S ALUMINUM UNIT WILL BE SPUN OFF TO SHAREHOLDERS AS ALUMAX INC AND SOME SHARES OF AMAX GOLD INC ARE TO BE DISTRIBUTED TO AMAX SHAREHOLDERS MILTON H WARD CHAIRMAN OF CYPRUS AND ALLEN BORN CHAIRMAN OF AMAX WILL SHARE THE TITLE OF COCHAIRMAN OF CYPRUS AMAX MR BORN WILL ALSO BE CHAIRMAN AND CHIEF EXECUTIVE OFFICER OF ALUMAX MR WARD WILL BE CHIEF EXECUTIVE OFFICER OF CYPRUS AMAX AND CHAIRMAN OF AMAX GOLD WHICH WILL BE 40 HELD BY CYPRUS AMAX AT THE MEETING MR WARD LAID OUT AN AMBITIOUS PROGRAM OF EXPANSION FOR THE COMBINED COMPANIES IN THE NEXT THREE TO FIVE YEARS HE SAID CYPRUS AMAX'S COAL PRODUCTION SHOULD INCREASE FROM 72 MILLION TONS A YEAR TO 100 MILLION TONS COPPER PRODUCTION SHOULD RISE FROM 645 MILLION POUNDS TO ONE BILLION POUNDS AND GOLD PRODUCTION SHOULD INCREASE TO 500000 OUNCES FROM 155000 OUNCES UNDER HIS PLAN IN A MEETING WITH REPORTERS FOLLOWING THE SHAREHOLDER MEETING MR WARD SAID HE EXPECTS HE WILL GET INVOLVED WITH THE MANAGEMENT OF AMAX GOLD WHICH HAS RUN INTO SIGNIFICANT TROUBLE WITH ITS MINES IN THE US AND CHILE IN THE PAST COUPLE OF YEARS HE SAID CYPRUS AMAX'S STAKE IN AMAX GOLD WILL RISE AS CYPRUS FOLDS ITS GOLD PROJECTS INTO THE SMALLER COMPANY IN EXCHANGE FOR STOCK MR WARD SAID THAT HIS FORMER ESTIMATE OF 120 MILLION IN ANNUAL ADMINISTRATIVE SAVINGS FROM THE COMBINATION OF CYPRUS AND AMAX MAY BE CONSERVATIVE AND THE COMPANIES HAVEN'T YET IDENTIFIED HOW MUCH WILL BE SAVED IN OPERATIONAL COSTS BY COMBINING CERTAIN COAL OPERATIONS 9311150107 931115 NEW STOCK LISTINGS NEW YORK THE NEW YORK STOCK EXCHANGE ANNOUNCED SEVEN NEW LISTINGS ALL INITIAL PUBLIC OFFERINGS THE NATIONAL ASSOCIATION OF SECURITIES DEALERS ANNOUNCED 18 NEW LISTINGS FOR ITS NATIONAL MARKET SYSTEM INCLUDING 13 INITIAL PUBLIC OFFERINGS AND THE AMERICAN STOCK EXCHANGE WILL BEGIN TRADING OPTIONS FOR ONE COMPANY THE BIG BOARD BEGAN TRADING IN THREE REAL ESTATE INVESTMENT TRUSTS ALL INITIAL OFFERINGS ASSOCIATED ESTATES REALTY CORP MAYFIELD VILLAGE OHIO UNDER AEC AVALON PROPERTIES INC NEW CANNAN CONN UNDER AVN AND SPIEKER PROPERTIES INC MENLO PARK CALIF UNDER SPK THE BIG BOARD ALSO BEGAN TRADING IN THE FOLLOWING INITIAL OFFERINGS LOUIS DREYFUS NATURAL GAS CORP OKLAHOMA CITY UNDER LD AN INDEPENDENT ENERGY COMPANY TRIDENT NGL HOLDING INC THE WOODLANDS TEXAS UNDER NGL A NATURAL GAS LIQUIDS COMPANY VESTA INSURANCE GROUP INC BIRMINGHAM ALA VTA AN INSURANCE HOLDING COMPANY AND NEWFIELD EXPLORATION CO HOUSTON UNDER NFX AN OIL AND GAS EXPLORATION COMPANY SKYBOX INTERNATIONAL INC DURHAM NC UNDER SKYB A MARKETER OF SPORTS AND ENTERTAINMENT TRADING CARDS AND OTHER PRODUCTS WAS APPROVED FOR THE NASDAQ NATIONAL MARKET FOLLOWING A DISTRIBUTION TO SHAREHOLDERS OF BROOKE GROUP LTD FOUR COMPANIES MOVED TO THE NASDAQ NATIONAL MARKET FROM THE SMALLCAP MARKET MONACO FINANCE INC DENVER UNDER MONFA AND WARRANTS UNDER MONFW A PROVIDER OF USED VEHICLE FINANCING PAM TRANSPORTATION SERVICES INC TONTITOWN ARK UNDER PTSI A MOTOR CARRIER TAT TECHNOLOGIES LTD GEDERA ISRAEL UNDER TATTF AND WARRANTS UNDER TATWF A MAKER OF HEAT TRANSFER EQUIPMENT AND VALUEVISION INTERNATIONAL INC MINNEAPOLIS UNDER VVTVA A MARKETER OF SALES PROGRAMS ON TELEVISION THE CHICAGO BOARD OPTIONS EXCHANGE AND THE AMERICAN STOCK EXCHANGE BEGAN TRADING OPTIONS ON PHARMACEUTICAL RESOURCES INC THE CBOE AND THE PACIFIC STOCK EXCHANGE WILL TRADE OPTIONS ON SOUTHERN PACIFIC RAIL CORP BEGINNING NOV 17 THE CBOE ALSO BEGAN TRADING OPTIONS ON HIBERNIA CORP CENTURY COMMUNICATIONS CORP INTERNATIONAL CABLETEL INC MILLICOM INC SCICLONE PHARMACEUTICALS INC SPECTRAVISION INC TCA CABLE TV INC TRICORD SYSTEMS INC CBOE WILL BEGIN TRADING OPTIONS FOR GENERAL NUTRITION COS ON NOV 16 THE CBOE BEGAN TRADING OPTIONS ON BROADBAND TECHNOLOGIES INC 9311150106 931115 TECHNOLOGY A SPECIAL REPORT CHASING THE GOLD A SENSE OF BELONGING GROWING TRAFFIC ON THE NETWORKS HAS FOCUSED NEW ATTENTION ON COPYRIGHT ISSUES BY BHUSHAN BAHREE THE NOBEL COMMITTEE MAY NOT BE READY TO RECOGNIZE THE LITERARY OR ARTISTIC CLAIMS OF POSTINGS ON COMPUTER BULLETIN BOARDS BUT IN MANY COUNTRIES ELECTRONIC MEMORANDUMS COMPUTER PROGRAMS AND OTHER ORIGINAL MATERIAL FLOATING AROUND IN THE ETHER ALREADY HAVE THE SAME LEGAL PROTECTION AS LITERATURE COPYRIGHT PROTECTION DOESN'T REQUIRE A JUDGMENT ON THE QUALITY OF A WORK OR ITS LITERARY OR ARTISTIC MERIT OR EVEN AN IMPORTANT CONSIDERATION FOR SOFTWARE ITS PURPOSE IT NEED ONLY BE ORIGINAL IN SOME WAY SO MUCH OF THE MATERIAL ON COMPUTER BULLETIN BOARDS QUALIFIES FOR COPYRIGHT PROTECTION IN THE 95 COUNTRIES THAT ARE SIGNATORIES TO THE BERN CONVENTION FOR THE PROTECTION OF LITERARY AND ARTISTIC WORKS INCLUDING THE US JAPAN AND THE NATIONS OF WESTERN EUROPE THE TEST FOR ORIGINALITY IN THE LAWS OF MANY COUNTRIES IS THAT THE WORK SHALL CONSTITUTE THE AUTHOR'S OWN CREATION AND SHALL NOT BE COPIED FROM ANOTHER WORK SAYS RICHARD OWENS SENIOR LEGAL OFFICER AT THE WORLD INTELLECTUAL PROPERTY ORGANIZATION OR WIPO WHICH ADMINISTERS AND ENFORCES THE BERN CONVENTION UNDER THE CONVENTION A WORK THAT QUALIFIES FOR COPYRIGHT PROTECTION IN ITS HOME COUNTRY ALSO RECEIVES WHATEVER COPYRIGHT PROTECTION THE OTHER NATIONS GRANT UNDER THEIR OWN LAWS IN SOME CASES SUCH AS OUTRIGHT COPYING OF PROTECTED SOFTWARE THE COPYRIGHT LAW IS CLEAR POLICE HAVE BEEN RAIDING BULLETINBOARD OPERATORS IN MANY EUROPEAN COUNTRIES THEY HAVE BEEN HELPED BY THE BUSINESS SOFTWARE ALLIANCE AND IN BRITAIN BY THE FEDERATION AGAINST SOFTWARE THEFT WHILE THE BSA IS FINANCED BY MAJOR SOFTWARE COMPANIES FAST'S MEMBERSHIP ALSO EXTENDS TO HARDWARE MAKERS AND THE CORPORATE COMMUNITY LAST NOVEMBER THE BSA EMBARKED ON A WORLDWIDE EFFORT TO CRACK DOWN ON BULLETINBOARD SYSTEMS THAT DISTRIBUTE SOFTWARE ILLEGALLY AMONG THE FIRST RESULTS WAS A RAID BY BERLIN POLICE ON 13 BULLETINBOARD OPERATORS THE 13 OWNERS NOW FACE CRIMINAL CHARGES IN GERMANY FOR ILLEGALLY OFFERING SOFTWARE ACCORDING TO BRADFORD SMITH EUROPEAN LEGAL COUNSEL FOR THE BSA IN LONDON MR SMITH SAYS THE BSA EMPLOYED A PRIVATE INVESTIGATOR TO LOG ON TO BULLETIN BOARDS IN BERLIN AND DOWNLOAD SOFTWARE COLLECTING EVIDENCE OF ILLEGAL OFFERINGS VIRTUALLY EVERY BUSINESS APPLICATION WAS EITHER BEING SOLD OR OFFERED FOR FREE BY THESE BULLETIN BOARDS IN BERLIN MR SMITH SAYS CURRENT LAW ISN'T SO CLEAR IN MOST COUNTRIES ABOUT LESS FORMAL KINDS OF ELECTRONIC EXCHANGES FOR EXAMPLE IF A BULLETINBOARD USER POSES A PROBLEM AND ANOTHER USER POSTS A SOLUTION THE PROBLEM SOLVER MAY LOSE PROTECTION BY NOT RESERVING HIS COPYRIGHT IN SOME FASHION SUCH AS CHARGING A FEE FOR THE SOLUTION COPYRIGHT LAW ALSO DOESN'T ALWAYS PROVIDE AS MUCH PROTECTION FOR COMPUTERRELATED WORKS AS COMPANIES WOULD LIKE FOR EXAMPLE APPLE COMPUTER INC WAS ALMOST ENTIRELY REBUFFED LAST YEAR IN ITS EFFORT TO SHOW THAT MICROSOFT CORP AND HEWLETTPACKARD CO ILLEGALLY COPIED THE LOOK AND FEEL OF ITS POPULAR MACINTOSH PROGRAMS THAT HAS PROMPTED SOME COMPUTER AND SOFTWARE COMPANIES TO SEEK PATENT PROTECTION FOR THEIR PRODUCTS THE CHIEF REASON IS THAT A COPYRIGHT PROTECTS ONLY AGAINST THE UNAUTHORIZED USE OF THE EXPRESSION OF IDEAS IT DOESN'T PROTECT THE IDEAS THEMSELVES PATENTS HAVE A MUCH SHORTER LIFE THAN COPYRIGHTS BUT THEY PROTECT THE IDEAS CREATING A MONOPOLY SITUATION MOREOVER WHAT LEGAL SAFEGUARDS EXIST DON'T ALWAYS TRANSLATE INTO PRACTICAL PROTECTION ON BULLETIN BOARDS ENFORCEMENT IS DIFFICULT BECAUSE THE NATURE OF THE SERVICES MAKES IT EASY TO COPY MATERIAL WHETHER TO A HARD DISK PRINTER OR OTHER REPOSITORY THAT'S PART OF THE REASON SOFTWARE PUBLISHERS AND OTHER SELLERS OF ORIGINAL WORKS HAVE PUSHED WITH LITTLE SUCCESS FOR TAXES ON DISKS TAPES AND OTHER BLANK MEDIA THE BERN CONVENTION WHICH DATES BACK TO 1886 MAKES NO MENTION OF ANY OF THESE ISSUES IT WAS LAST AMENDED IN 1979 JUST BEFORE THE PERSONALCOMPUTER REVOLUTION TOOK OFF BUT MEMBER COUNTRIES HAVE ADAPTED THE AGREEMENT THROUGH THE YEARS TO OTHER BIG CHANGES IN TECHNOLOGY INCLUDING RADIO TELEVISION AND MOVIES ALREADY THERE IS WIDE ACCEPTANCE AMONG BERN CONVENTION NATIONS THAT THE AGREEMENT APPLIES TO SOFTWARE AND DATABASES INCLUDING BULLETIN BOARDS EVEN THOUGH IT DOESN'T MENTION THEM SPECIFICALLY LAWS IN THE US AND THE EUROPEAN COMMUNITY FOR INSTANCE NOW REFLECT THIS ASSUMPTION NOT ONLY DOES MOST INFORMATION IN DATABASES AND BULLETIN BOARDS QUALIFY FOR COPYRIGHT PROTECTION IN THE BERN CONVENTION COUNTRIES BUT THE STRUCTURE OF A DATABASE ALSO CAN BE COPYRIGHTED PROVIDED A MINIMAL AMOUNT OF WORK MAKES IT ORIGINAL FOR INSTANCE THE WAY A DATABASE SEARCHES NEWSPAPER ARTICLES BY KEYWORDS CAN HAVE COPYRIGHT PROTECTION THE PROCESS OF TRANSMISSION ISN'T A COPYRIGHT ISSUE BUT SIMPLY CALLING UP AN ENTRY COULD RUN AFOUL OF COPYRIGHT LAWS IN SOME COUNTRIES PRINTING THE ITEM OR STORING IT ON A DISK CERTAINLY DOES DESPITE THE WIDE RECOGNITION OF PROTECTION FOR PROGRAMS AND OTHER ELECTRONIC MATERIAL SOFTWARE MAKERS ESPECIALLY WOULD LIKE TO UPDATE THE BERN CONVENTION TO REMOVE ANY DOUBT ABOUT THE MATTER THE BSA FINANCED BY LOTUS DEVELOPMENT CORP MICROSOFT AND OTHERS IS LEADING THE PUSH BUT THE WORLD OF INTERNATIONAL NEGOTIATIONS MOVES AT A MUCH SLOWER PACE THAN THE RAPID DEVELOPMENTS IN COMPUTERS AND SOFTWARE FOR TWO YEARS INTERNATIONAL NEGOTIATORS AND EXPERTS HAVE BEEN WORKING ON A PROTOCOL THAT WOULD SPECIFICALLY OBLIGE BERN CONVENTION SIGNATORIES TO GRANT COPYRIGHT PROTECTION TO COMPUTER PROGRAMS AND DATABASES INCLUDING BULLETIN BOARDS IT MAY BE A COUPLE OF YEARS AT THE EARLIEST BEFORE THE TERMS OF THE PROTOCOL ARE SETTLED AND APPLIED ACCORDING TO A WIPO OFFICIAL BUT NEGOTIATORS ARE CONSIDERING PROPOSALS TO STIPULATE AMONG OTHER THINGS THAT SIGNATORIES ARE OBLIGED TO GRANT COPYRIGHT PROTECTION TO COMPUTER PROGRAMS AND THAT THE PROTECTION MUST BE LARGELY THE SAME AS THAT FOR LITERARY WORKS UNDER THE BERN CONVENTION THAT COLLECTIONS OF MERE DATA OR OTHER UNPROTECTED MATERIAL SUCH AS GOVERNMENT ECONOMIC STATISTICS OR WEATHER FIGURES BE PROTECTED WHENEVER THEY ARE PART OF INTELLECTUAL CREATIONS BECAUSE OF THE SELECTION COORDINATION OR ARRANGEMENT OF DATA AND THAT DATABASES INCLUDING BULLETIN BOARDS BE MENTIONED IN THIS CONTEXT THAT SUCH PROTECTION OF DATABASES DOESN'T MAKE THE RAW DATA OR OTHER UNPROTECTED MATERIAL ELIGIBLE FOR COPYRIGHT PROTECTION THAT IT IS THE EXCLUSIVE RIGHT OF THE AUTHOR TO AUTHORIZE RENTAL OR PUBLIC LENDING WHILE NEGOTIATIONS CONTINUE THE GENERAL AGREEMENT ON TARIFFS AND TRADE THE GENEVABASED WORLD TRADE ORGANIZATION IS PREPARING TO MOVE INTO THE SAME AREA MORE THAN 100 GATT NATIONS HAVE BEEN NEGOTIATING A NEW SET OF WORLD TRADE RULES SINCE 1986 IN THE SOCALLED URUGUAY ROUND OF TALKS INCLUDED IN THESE NEGOTIATIONS ARE TRADERELATED INTELLECTUALPROPERTY RIGHTS WHILE THESE WOULD GO BEYOND COPYRIGHT AND INTO THE AREA OF PATENTS THEY WOULD FURTHER BIND COUNTRIES TO PROTECTING SOFTWARE ELECTRONIC MESSAGES AND OTHER MATERIAL MR BAHREE IS A STAFF REPORTER IN THE WALL STREET JOURNAL'S GENEVA BUREAU 9311150105 931115 BUSINESS BRIEF ALLIED RESEARCH CORP UNCERTAINTY OVER BIG ORDER COMPLICATES PROFIT FORECAST ALLIED RESEARCH CORP VIENNA VA SAID UNCERTAINTY ABOUT A SUBSTANTIAL ORDER BY A LONGTIME CUSTOMER MEANS IT IS UNABLE TO SAY WHETHER IT WOULD BE PROFITABLE IN 1994 THE AMMUNITION AND DEFENSESYSTEMS COMPANY SAID THE ORDER CONTINUES TO BE DELAYED BECAUSE OF FINANCING CONSIDERATIONS AT THE CUSTOMER COUNTRY ALLIED SAID IT BELIEVES THE ORDERS WILL BE RELEASED DURING THE 1994 FIRST HALF ALLIED ALSO REPORTED THIRDQUARTER NET INCOME DECLINED 73 TO 34 MILLION OR 74 CENTS A SHARE FROM 37 MILLION OR 82 CENTS A SHARE A YEAR EARLIER REVENUE FELL 43 TO 308 MILLION FROM 547 MILLION ALLIED DEVELOPS AND PRODUCES AMMUNITION SYSTEMS SUPPLIES ENGINEERING SERVICES TO DEFENSE DEPARTMENTS AND DESIGNS AND PRODUCES ENVIRONMENTAL AND DEMILITARIZATION SYSTEMS ITS STOCK FELL 51 OR 50 CENTS TO 9375 IN COMPOSITE TRADING ON THE AMERICAN STOCK EXCHANGE 9311150104 931115 MONEY RATES THE KEY US AND FOREIGN ANNUAL INTEREST RATES BELOW ARE A GUIDE TO GENERAL LEVELS BUT DON'T ALWAYS REPRESENT ACTUAL TRANSACTIONS PRIME RATE 6 THE BASE RATE ON CORPORATE LOANS POSTED BY AT LEAST 75 OF THE NATION'S 30 LARGEST BANKS FEDERAL FUNDS 3 1/4 HIGH 2 15/16 LOW 3 1/8 NEAR CLOSING BID 3 1/4 OFFERED RESERVES TRADED AMONG COMMERCIAL BANKS FOR OVERNIGHT USE IN AMOUNTS OF 1 MILLION OR MORE SOURCE PREBON YAMANE USA INC DISCOUNT RATE 3 THE CHARGE ON LOANS TO DEPOSITORY INSTITUTIONS BY THE FEDERAL RESERVE BANKS CALL MONEY 5 THE CHARGE ON LOANS TO BROKERS ON STOCK EXCHANGE COLLATERAL SOURCE TELERATE SYSTEMS INC COMMERCIAL PAPER PLACED DIRECTLY BY GENERAL ELECTRIC CAPITAL CORP 309 30 TO 39 DAYS 308 40 TO 59 DAYS 333 60 TO 159 DAYS 335 160 TO 239 DAYS 342 240 TO 270 DAYS COMMERCIAL PAPER HIGHGRADE UNSECURED NOTES SOLD THROUGH DEALERS BY MAJOR CORPORATIONS 314 30 DAYS 340 60 DAYS 340 90 DAYS CERTIFICATES OF DEPOSIT 256 ONE MONTH 271 TWO MONTHS 274 THREE MONTHS 282 SIX MONTHS 301 ONE YEAR AVERAGE OF TOP RATES PAID BY MAJOR NEW YORK BANKS ON PRIMARY NEW ISSUES OF NEGOTIABLE CDS USUALLY ON AMOUNTS OF 1 MILLION AND MORE THE MINIMUM UNIT IS 100000 TYPICAL RATES IN THE SECONDARY MARKET 307 ONE MONTH 334 THREE MONTHS 338 SIX MONTHS BANKERS ACCEPTANCES 306 30 DAYS 330 60 DAYS 326 90 DAYS 326 120 DAYS 327 150 DAYS 327 180 DAYS OFFERED RATES OF NEGOTIABLE BANKBACKED BUSINESS CREDIT INSTRUMENTS TYPICALLY FINANCING AN IMPORT ORDER LONDON LATE EURODOLLARS 3 3/16 3 1/16 ONE MONTH 3 1/2 3 3/8 TWO MONTHS 3 1/2 3 3/8 THREE MONTHS 3 1/2 3 3/8 FOUR MONTHS 3 1/2 3 3/8 FIVE MONTHS 3 1/2 3 3/8 SIX MONTHS LONDON INTERBANK OFFERED RATES LIBOR 3 3/16 ONE MONTH 3 1/2 THREE MONTHS 3 1/2 SIX MONTHS 3 3/4 ONE YEAR THE AVERAGE OF INTERBANK OFFERED RATES FOR DOLLAR DEPOSITS IN THE LONDON MARKET BASED ON QUOTATIONS AT FIVE MAJOR BANKS EFFECTIVE RATE FOR CONTRACTS ENTERED INTO TWO DAYS FROM DATE APPEARING AT TOP OF THIS COLUMN FOREIGN PRIME RATES CANADA 550 GERMANY 633 JAPAN 3375 SWITZERLAND 750 BRITAIN 6 THESE RATE INDICATIONS AREN'T DIRECTLY COMPARABLE LENDING PRACTICES VARY WIDELY BY LOCATION TREASURY BILLS RESULTS OF THE MONDAY NOVEMBER 8 1993 AUCTION OF SHORTTERM US GOVERNMENT BILLS SOLD AT A DISCOUNT FROM FACE VALUE IN UNITS OF 10000 TO 1 MILLION 311 13 WEEKS 328 26 WEEKS FEDERAL HOME LOAN MORTGAGE CORP FREDDIE MAC POSTED YIELDS ON 30YEAR MORTGAGE COMMITMENTS DELIVERY WITHIN 30 DAYS 695 60 DAYS 704 STANDARD CONVENTIONAL FIXEDRATE MORTGAGES 3625 2 RATE CAPPED ONEYEAR ADJUSTABLERATE MORTGAGES SOURCE TELERATE SYSTEMS INC FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE POSTED YIELDS ON 30YEAR MORTGAGE COMMITMENTS PRICED AT PAR FOR DELIVERY WITHIN 30 DAYS 692 60 DAYS 702 STANDARD CONVENTIONAL FIXEDRATE MORTGAGES 510 6/2 RATE CAPPED ONEYEAR ADJUSTABLERATE MORTGAGES SOURCE TELERATE SYSTEMS INC MERRILL LYNCH READY ASSETS TRUST 269 ANNUALIZED AVERAGE RATE OF RETURN AFTER EXPENSES FOR THE PAST 30 DAYS NOT A FORECAST OF FUTURE RETURNS 9311150103 931115 CORRECTIONS & AMPLIFICATIONS WAYNE LAPIERRE IS EXECUTIVE VICE PRESIDENT OF THE NATIONAL RIFLE ASSOCIATION AN ARTICLE THURSDAY ON GUN LEGISLATION GAVE HIS FIRST NAME INCORRECTLY 9311150102 931115 AMR UNIT UNION TO MEET IN ATTEMPT TO AVERT STRIKE FORT WORTH TEXAS AMERICAN AIRLINES SAID IT HAS AGREED TO MEET WITH A FEDERAL MEDIATOR AND MEMBERS OF ITS FLIGHT ATTENDANTS UNION TOMORROW IN AN EFFORT TO AVOID A STRIKE SCHEDULED TO BEGIN THURSDAY A SPOKESMAN FOR THE UNIT OF AMR CORP SAID THE MEETING WHICH WILL BE HELD IN NEW ORLEANS IS AIMED AT TRYING TO PREVENT A WALKOUT BY FLIGHT ATTENDANTS RIGHT AT THE BEGINNING OF THE THANKSGIVING HOLIDAY TRAVEL SEASON THE TWO SIDES HAVE BEEN TALKING AND AN AIRLINE SPOKESMAN SAID LATE LAST MONTH THAT PROGRESS HAD BEEN MADE NEITHER SIDE WOULD GIVE SPECIFICS AMERICAN HAS ASKED ITS FLIGHT ATTENDANTS TO ACCEPT A NEW CONTRACT THAT CALLS FOR STEEP RAISES FOR LOWSENIORITY WORKERS BUT CUTS STAFFING AND BENEFITS AND OVERHAULS SCHEDULING THE ASSOCIATION OF PROFESSIONAL FLIGHT ATTENDANTS IN TURN IS PUSHING FOR AN INDUSTRYLEADING CONTRACT AMERICAN HAS BEEN PUTTING SOME MANAGEMENT AND NONCONTRACT WORKERS THROUGH A THREEDAY COURSE AS FLIGHT ATTENDANT REPLACEMENTS 9311150101 931115 UNILEVER'S 33 RISE IN 3RDPERIOD PROFIT FELL SHORT OF FORECASTS SPECIAL TO THE WALL STREET JOURNAL AMSTERDAM ANGLODUTCH FOOD AND HOUSEHOLDPRODUCT GROUP UNILEVER NV SAID NET INCOME IN THE THIRD QUARTER ROSE 33 ON 63 HIGHER SALES A RESULT THAT WAS BELOW ANALYSTS' EXPECTATIONS UNILEVER'S SHARES FELL TO 1086 PENCE 1601 DOWN 17 PENCE ON THE LONDON STOCK EXCHANGE AND TO 210 GUILDERS 11078 DOWN 27 GUILDERS ON THE AMSTERDAM EXCHANGE IN NEW YORK STOCK EXCHANGE COMPOSITE TRADING LONDONBASED UNILEVER PLC'S AMERICAN DEPOSITARY RECEIPTS WHICH REPRESENT FOUR ORDINARY SHARES CLOSED AT 6525 DOWN 75 CENTS WHILE ROTTERDAMBASED UNILEVER NV CLOSED AT 11075 DOWN 625 CENTS IT WAS VERY DISAPPOINTING WE HAD EXPECTED MUCH MORE PROFIT A DUTCH FLOOR BROKER AT THE AMSTERDAM EXCHANGE SAID BUT HE AND OTHER BROKERS ON THE EXCHANGE SAID THERE WASN'T HEAVY SELLING OF THE UNILEVER SHARES WHICH HAD BEEN RELATIVELY STRONG IN RECENT WEEKS NET TOTALED 116 BILLION GUILDERS IN THE QUARTER 6119 MILLION UP FROM 112 BILLION GUILDERS A YEAR EARLIER BUT THE COMPANY ALSO NOTED THE GUILDERDENOMINATED EARNINGS WERE HURT BY FOREIGNCURRENCY SWINGS FOLLOWING THE SEPTEMBER 1992 EUROPEAN CURRENCY CRISIS THE DUTCH GUILDER EMERGED FROM THAT CRISIS REINFORCED AS ONE OF EUROPE'S STRONGEST CURRENCIES AT CONSTANT EXCHANGE RATES NET PROFIT INCREASED IN BOTH THE THIRD QUARTER AND NINE MONTHS BY 9 THE COMPANY SAID UNILEVER SAID THAT IN TERMS OF POUNDS STERLING NET WAS UP ABOUT 17 IN THE THIRD QUARTER WHILE IN DOLLAR TERMS IT FELL AROUND 8 THE COMPANY REPORTS FINANCIAL DATA IN GUILDERS POUNDS AND DOLLARS SALES IN THE LATEST QUARTER CLIMBED 63 TO 2059 BILLION GUILDERS FROM 1938 BILLION GUILDERS THE RISE IN SALES AND EARNINGS APPEARS TO BE DUE LARGELY TO BUOYANT OPERATIONS IN SOUTHEAST ASIAN AND SOUTH AMERICAN MARKETS IN THE LATEST QUARTER PRICE COMPETITION AND SLACK EUROPEAN MARKETS APPEAR TO HAVE WEIGHED ON PROFIT MARGINS 9311150099 931115 MARKETING & MEDIA ADVERTISING CBS TO OFFER PRIMETIME PLUGS FOR EARLYMORNING INFOMERCIALS BY KEVIN GOLDMAN CBS HAS A NEW MARKETING TACTIC IN WHICH IT WILL AIR TV COMMERCIALS TOUTING OTHER COMMERCIALS INFOMERCIALS THAT IS THIS WEEK CBS IS EXPECTED TO ANNOUNCE A MARKETING GAMBIT CALLED VIDEO BROCHURE IN WHICH THE SEVEN TV STATIONS IT OWNS WILL RUN ADS ALERTING VIEWERS TO INFOMERCIALS BEING BROADCAST IN THE EARLYMORNING HOURS VIEWERS WILL BE URGED TO VIDEOTAPE THE LONG COMMERCIALS TO WATCH AT THEIR CONVENIENCE EXECUTIVES AT THE NETWORK STRESS THAT THE CBS AIRWAVES WILL NEVER BECOME LITTERED WITH PESKY INFOMERCIALS BUT THEY ARGUE THAT THE OVERNIGHT HOURS ON FRIDAYS AND SATURDAYS ARE IDEAL TIME SLOTS FOR A LIMITED NUMBER OF INFORMERCIALS VARYING IN LENGTH FROM 10 TO 30 MINUTES THE STATIONS CAN SANDWICH THE INFOMERCIALS BETWEEN MOVIES AND OTHER PROGRAMS FILLING THE OVERNIGHT BROADCAST SCHEDULE AS INFOMERCIALS PROLIFERATE IT IS UNREALISTIC TO EXPECT TO REACH VIEWERS BY MERELY HOPING THEY HAPPEN UPON THEM SAYS PHILIP S PRESS VICE PRESIDENT OF SALES AND MARKETING FOR THE SEVEN CBSOWNED STATIONS WHICH COLLECTIVELY REACH 25 OF THE COUNTRY CURRENTLY THE TOPICS OF INFOMERCIALS DON'T APPEAR IN PUBLISHED TV PROGRAM LISTINGS CBS STATIONS WILL PROMOTE THE INFOMERCIALS DURING THE NETWORK'S PRIMETIME LINEUP WHICH CURRENTLY RANKS FIRST IN THE AC NIELSEN RATINGS TO MAKE IT EASIER FOR VIEWERS TO VIDEOTAPE THE PROGRAMS CBS HAS ARRANGED FOR VCR PLUS CODES TO BE ASSIGNED TO INFOMERCIALS FOR THE FIRST TIME CBS'S OWNEDSTATION DIVISION SIGNED AN AGREEMENT WITH GEMSTAR DEVELOPMENT THE MAKER OF VCR PLUS DEVICES WHICH ALLOW VIEWERS TO PROGRAM THEIR VIDEOCASSETTE RECORDERS BY PUNCHING IN A SHOW'S NUMERICAL VCR PLUS CODE FOUND IN THE TV LISTINGS AS PART OF THE AGREEMENT GEMSTAR WILL ASSIGN VCR PLUS CODES TO EACH INFOMERCIAL AIRED ON CBS STATIONS OF THE 93 MILLION HOUSEHOLDS WITH TELEVISION SETS ABOUT 105 MILLION OWN VCR PLUS DEVICES WITH THIS EXPERIMENT CBS IS DIPPING ITS TOE IN THE NEW WORLD OF INTERACTIVE ADVERTISING HERE'S A HYPOTHETICAL EXAMPLE OF HOW IT WOULD WORK A CHRYSLER COMMERCIAL THAT RUNS DURING CBS'S PRIMETIME SCHEDULE MIGHT BE FOLLOWED IMMEDIATELY BY ANOTHER PLUG THIS ONE WOULD SAY YOU CAN LEARN MORE ABOUT THE NEW CHRYSLER LHS TAKE A TEST DRIVE' BY PUNCHING IN VCR PLUS NUMBER 52377 AND RECORDING OUR 10MINUTE VIDEO BROCHURE OR SET YOUR VCR TIMER FOR 4 TO 410 AM THIS SATURDAY ON CHANNEL 2 ADDITIONALLY PRINT ADS FOR THE CAR COULD INFORM READERS OF THE INFOMERCIAL AND INCLUDE THE VCR PLUS CODE ADVERTISERS WILL PRODUCE THE INFOMERCIALS THEMSELVES CBS HASN'T SIGNED ANY CLIENTS YET BUT IT HAS HELD TALKS WITH POTENTIAL CUSTOMERS SUCH AS NISSAN MOTOR CHRYSLER MICROSOFT GENERAL MOTORS AND SONY'S COLUMBIA PICTURES UNIT IT'S A GOOD IDEA A FASCINATING IDEA SAYS JOHN BUTKOVICH A SENIOR VICE PRESIDENT AT COLUMBIA PICTURES THERE ARE CONCERNS HOWEVER FOR ONE THING ADVERTISERS WANT PROOF THAT THEIR MESSAGE IS ACTUALLY REACHING CONSUMERS THAT'S TRICKY IN THIS CASE BECAUSE IT'S IMPOSSIBLE TO PRECISELY MEASURE AN AUDIENCE THAT IS VIDEOTAPING A PROGRAM BUT MR PRESS SAYS AN ADVERTISER CAN INCLUDE A TELEPHONE NUMBER WITHIN THE INFOMERICAL AND GAUGE THE AD'S EFFECTIVENESS BY THE NUMBER OF RESPONSES OR THE ADVERTISER COULD OFFER A SPECIAL DISCOUNT ONLY TO THOSE WHO SEE THE INFOMERCIAL THIS IS A GREAT WAY FOR STATIONS TO MAKE REVENUE OFF LOWRATED TIMES OF THE DAY AND DABBLE IN THE FIELD OF INTERACTIVITY SAYS JEAN POOL A SENIOR VICE PRESIDENT AT WPP GROUP'S J WALTER THOMPSON MR PRESS SAYS THE CBSOWNED STATIONS IN NEW YORK LOS ANGELES CHICAGO PHILADELPHIA MIAMI MINNEAPOLIS ST PAUL AND GREEN BAY WIS HOPE TO SIGN UP ADVERTISERS IN THE FOLLOWING CATEGORIES TRAVEL SUCH AS CRUISE LINES AUTOMOTIVE ENTERTAINMENT SUCH AS THEME PARKS AND MOVIES CONSUMER ELECTRONICS COMPUTER SOFTWARE FINANCIAL SERVICES HEALTH CARE AND HEALTH AND FITNESS CENTERS WE'RE ENCOURAGING OUR CLIENTS TO EXPERIMENT WITH THIS SAYS LOUIS SCHULTZ EXECUTIVE VICE PRESIDENT AT INTERPUBLIC GROUP'S LINTASWORLDWIDE IT HAS A LOT OF POTENTIAL IN AN INTERVIEW AT CBS'S CORPORATE HEADQUARTERS MR PRESS SAYS AUTO MAKERS ROUTINELY MAIL INFOMERCIALS ON VIDEOCASSETTES TO POTENTIAL CUSTOMERS HE ESTIMATES THAT EACH MAILING COSTS THE AUTO MAKER 7 TO 10 IT IS FAR MORE EFFICIENT MR PRESS ARGUES TO AIR AN INFORMERCIAL OVERNIGHT AND HAVE VIEWERS RECORD IT THE CBSOWNED STATIONS WILL DERIVE REVENUE NOT ONLY FROM THE INFOMERCIAL BUT ALSO FROM THE TIME 10 TO 15 SECONDS ADDED TO THE PRIMETIME COMMERCIAL PROMOTING THE OVERNIGHT INFOMERCIAL A 30SECOND AD IN PRIME TIME COULD BECOME A 45SECOND SPOT CHARGED AT PRIMETIME RATES ALTERNATIVELY MR PRESS SUGGESTS THAT ADVERTISERS COULD SHORTEN THE PRIMETIME AD TO 20 SECONDS ADD AN EXTRA 10 SECONDS TO PLUG THE INFOMERCIAL AND STILL BE CHARGED FOR A HALFMINUTE AD CURRENTLY INFOMERCIALS AREN'T GIVEN INDIVIDUAL LISTINGS IN NEWSPAPER TELEVISION SUPPLEMENTS INSTEAD ONLY A GENERIC PAID PROGRAMMING LABEL APPEARS WITH NO HINT OF THE CONTENT CBS AND VCR PLUS HOPE TO PERSUADE PERIODICALS TO INCLUDE IN THEIR LISTINGS THE SPECIFIC ADVERTISER TIME AND CHANNEL FOR THE OVERNIGHT INFOMERCIAL THE ADVERTISER WOULD PAY THE NEWSPAPER A SMALL FEE TO BE INCLUDED AND THE PERIODICAL WOULD INCLUDE THE VCR PLUS CODE CBS AND VCR PLUS SAY THE PARTNERSHIP CARRIES LITTLE RISK MORE THAN 80 OF US HOMES WITH TELEVISION SETS HAVE AT LEAST ONE VCR AND ADVERTISERS SAY THEY NEED MORE THAN HALF A MINUTE TO TELL THEIR STORY FURTHER MADISON AVENUE IS BECOMING INCREASINGLY ENAMORED OF INFOMERCIALS SOME AGENCIES HAVE EVEN SET UP THEIR OWN INFOMERCIAL UNITS THIS IS THE START OF INTERACTIVE TELEVISION MR PRESS SAYS IT WILL ALLOW THE VIEWER TO GET THE FULL STORY AFTER A COMMERCIAL WHICH AFTER ALL CAN ONLY SERVE AS A HEADLINE HE ADDS THIS IS INFORMATION AND ENTERTAINMENT ON DEMAND AND THAT IS WHAT INTERACTIVE TELEVISION WILL BE ALL ABOUT DIGITAL DIGITAL EQUIPMENT CORP MAYNARD MASS TAPPED YOUNG & RUBICAM NEW YORK TO HANDLE ITS ESTIMATED 15 MILLION PERSONALCOMPUTER ACCOUNT PREVIOUSLY SPLIT BETWEEN KETCHUM ADVERTISING AND FOOTE CONE & BELDING'S KRUPP/TAYLOR DIRECTMARKETING UNIT OTHER CONTENDERS INCLUDED WPP GROUP'S J WALTER THOMPSON AND EURO RSCG'S MESSNER VETERE BERGER MCNAMEE SCHMETTERER WEIGHT WATCHERS HJ HEINZ'S WEIGHT WATCHERS FOODS UNIT AWARDED THE CREATIVE PORTION OF ADS FOR A LOSE 10 LBS AMERICA PROMOTION THIS WINTER TO OMNICOM GROUP'S BERLIN WRIGHT CAMERON THE SHOP FORMED BY DDB NEEDHAM EXECUTIVES IN SEPTEMBER ALLY & GARGANO WHICH WON THE WEIGHT WATCHERS ACCOUNT FROM DDB TWO YEARS AGO WILL BUY MEDIA FOR THE PROMOTIONAL ADS AND CONTINUE TO PRODUCE OTHER ADS FOR WEIGHT WATCHERS PRODUCTS A CLIENT SPOKESWOMAN SAID ACCOUNTS THE CHICAGO OFFICE OF AYER WON WOLVERINE WORLD WIDE'S ESTIMATED 5 MILLION ACCOUNT PREVIOUSLY HANDLED BY THE CHICAGO OFFICE OF OMNICOM'S BBDO NICOLA CORP BOSTON TAPPED OMNICOM'S CASTLE UNDERWOOD TO HANDLE A NEW UNDISCLOSED FOODPRODUCT ACCOUNT WITH PROJECTED BILLINGS OF 5 MILLION TO 10 MILLION SPONSORSHIP ENDS PEPSICO SAID MICHAEL JACKSON'S CANCELLATION OF HIS WORLD CONCERT TOUR EFFECTIVELY CANCELS THE COMPANY'S RELATIONSHIP WITH HIM A SPOKESMAN FOR THE COMPANY'S PEPSICOLA UNIT SAID THE COMPANY'S RELATIONSHIP WITH THE SINGER HAD CONSISTED OF ITS SPONSORSHIP OF THE TOUR WHICH MR JACKSON SAID HE WAS CANCELING BECAUSE OF AN ADDICTION TO PAINKILLERS MR JACKSON HAS SAID HE WAS TAKING PRESCRIBED PAINKILLERS BECAUSE OF SCALP RECONSTRUCTIVE SURGERY AS A RESULT OF BURNS HE SUFFERED WHILE FILMING A PEPSI COMMERCIAL IN 1984 9311150098 931115 HIDDEN FORCE AS PEROT BASHES NAFTA A TEXTILE TITAN FIGHTS IT QUIETLY WITH MONEY ROGER MILLIKEN IS DEFENDING HIS FIRM AND HE CLAIMS ALL OF AMERICAN INDUSTRY TARGETED NEXT GATT TALKS BY BRUCE INGERSOLL AND ASRA Q NOMANI STAFF REPORTERS OF THE WALL STREET JOURNAL SPARTANBURG SC WHEN TEXTILE TYCOON ROGER MILLIKEN WANTS TO SUMMON THE TROOPS HERE AT MILLIKEN & CO HEADQUARTERS HE HITS A BUTTON AND AN AUTOMATED LION'S ROAR RUMBLES OUT OF A CAVERNOUS AMPHITHEATER WHEN IT COMES TO THE NORTH AMERICAN FREE TRADE AGREEMENT MR MILLIKEN LETS ROSS PEROT DO THE ROARING WHILE HE MUCH LESS CONSPICUOUSLY UNDERWRITES A SUB ROSA LOBBYING MACHINE THAT HAS BEEN WORKING FOR MONTHS TO KILL THE TRADE PACT AT AGE 78 BIG RED MILLIKEN IS THE HOWARD HUGHES OF THE US PROTECTIONIST MOVEMENT A PUBLICITYSHY BILLIONAIRE WHO HAS BEEN QUIETLY BANKROLLING THE CAMPAIGN AGAINST NAFTA A TREATY SUPPORTED BY MOST OF CORPORATE AMERICA AND EVEN BY THE USUALLY PROTECTIONIST TEXTILE INDUSTRY WHICH SEES MEXICO AS A MARKET FOR US FABRIC WHILE MR PEROT'S FASCINATION WITH TRADE IS RELATIVELY RECENT AND PROBABLY PASSING MR MILLIKEN SEES THE FIGHT AGAINST NAFTA AS ONLY THE MOST IMMEDIATE STRUGGLE IN A LARGER CRUSADE TO TURN THE US AWAY FROM ITS POSTWAR POLICY OF PROMOTING FREER TRADE WORLDWIDE UNLIKE MR PEROT AND HIS CRANKY NAFTABASHING MR MILLIKEN KEEPS TO THE POLITICAL SHADOWS HE SPONSORS THE ANTINAFTA NONAME GROUP AS IT'S CALLED HE PUMPS ABOUT 400000 A YEAR INTO PROTECTIONIST THINK TANKS AND CONSERVATIVE ENDEAVORS HE AND HIS COMPANY EXECUTIVES AND FAMILY MEMBERS HAVE CONTRIBUTED AT LEAST ANOTHER 262000 SINCE 1979 TO VARIOUS CONSERVATIVE POLITICIANS MANY OF WHOM ARE JOINING HIM IN THE NAFTA FIGHT SHOULD THE HOUSE OF REPRESENTATIVES REJECT THE NAFTA LEGISLATION WEDNESDAY THE NONAMERS WILL HAVE AS MUCH CAUSE TO CROW AS MR PEROT'S UNITED WE STAND AMERICA ACTIVISTS OR THE AFLCIO'S GRASSROOTS ORGANIZERS THE NONAMERS HAVE LARGELY COORDINATED THE ANTINAFTA CAMPAIGN AT CLOSEDDOOR MEETINGS WITH MR MILLIKEN PICKING UP THE RESTAURANT TABS FOR DRINKS AND DINNER MANY ANTINAFTA WHITE PAPERS FLOATING AROUND CAPITOL HILL BEAR NO LETTERHEAD BUT ARE BASED ON THE OUTPUT OF A MILLIKEN & CO MAINFRAME IN SPARTANBURG THE NONAMERS ARE AN ODD BUNCH THEY INCLUDE A TOP RALPH NADER ASSOCIATE A SUGARBEET LOBBYIST AND A CONSERVATIVE ECONOMIST AS WELL AS AIDES TO CONGRESSIONAL NAFTA FOES THEY PORE OVER THE ARGUMENTS ADVANCED BY NAFTA'S SUPPORTERS AND PLAN COUNTERATTACKS THEY SHARE EVERY IDEA THAT BOLSTERS THEIR CASE AGAINST NAFTA WHICH THEY CONTEND WILL SPARK A MIGRATION OF FACTORIES TO LOWWAGE MEXICO HOSTING THE NONAME GATHERINGS AND WORKING THE CONGRESSIONAL COATROOMS IS MR MILLIKEN'S WASHINGTON ALTER EGO JOHN JOCK NASH JR A DECORATED VIETNAM VETERAN WHO LIKENS THE NAFTA FIGHT TO AN ECONOMIC WAR A SORT OF MARLBORO MAN WITH A RUGGED PHYSIQUE AND CLEFT CHIN MR NASH CALLS HIMSELF A HEMINGWAY OVERCOMPENSATOR HE HAS BEEN INJURED SKATEBOARDING MOTORCYCLING AND CLIFFDIVING AT NONAME DINNERS IMPORTED WINE IS BANNED AND AT TIMES THE ATMOSPHERE TURNS XENOPHOBIC WITH ANTIMEXICAN SLURS IT'S KIND OF AMUSING AND KIND OF FRIGHTENING ONE ATTENDEE SAYS MEANWHILE MR MILLIKEN USES HIS CORPORATE LEVERAGE AND POLITICAL CLOUT TO MOBILIZE OPPOSITION TO WHAT HE CALLS A HORROR OF AN AGREEMENT HE HAS PHALANXES OF PLANT MANAGERS AND OTHER EXECUTIVES SPREADING THE ANTINAFTA MESSAGE WHEREVER MILLIKEN & CO OPERATES IN THE SOUTHEAST HE WORKS THE TELEPHONE URGING SUPPLIERS AND CUSTOMERS OF HIS COMPANY TO LOBBY LAWMAKERS TO VOTE AGAINST NAFTA HE HAS BOMBARDED JACK KROL VICE CHAIRMAN OF DUPONT CO WITH ANTINAFTA ARTICLES AND THE PEROTPAT CHOATE BOOK SAVE YOUR JOB SAVE OUR COUNTRY A DUPONT OFFICIAL SAYS HE COMMUNICATED HIS MESSAGE LOUD AND CLEAR BECAUSE HE'S A GOOD CUSTOMER WE LISTENED AT THE END OF THE DAY WE AGREED TO DISAGREE INDEED THERE MAY NOT BE ANY PROMINENT CORPORATE LEADERS IN THE US WHO OPENLY AND FULLY AGREE WITH MR MILLIKEN'S VIEWS ON TRADE MR MILLIKEN ALSO HAS TELEPHONED MEMBERS OF CONGRESS AND FLOODED INFLUENTIAL FRIENDS AND ASSOCIATES WITH ANTINAFTA FAXES INCLUDING ARTICLES ABOUT POOR WORKING CONDITIONS AND POLITICAL CORRUPTION IN MEXICO HE DISPATCHED AN ASSISTANT TO HANDDELIVER TO ONE ACQUAINTANCE EDWARD LUTTWAK'S LATEST BOOK THE ENDANGERED AMERICAN DREAM WITH MOST OF ITS CHAPTERS ANNOTATED WITH POSTIT WARNINGS ABOUT THE PERILS OF OPEN TRADE I HAVE TO DO IT MR MILLIKEN SAYS HIS EYES NARROWING BENEATH BUSHY EYEBROWS I'VE BEEN GETTING MORE AND MORE UPSET AT THE WAY OUR GOVERNMENT HAS GIVEN AWAY JOBS HE FEARS THAT TRANSFORMING CANADA MEXICO AND THE US INTO A FREETRADE ZONE WOULD ENCOURAGE THE APPAREL INDUSTRY TO RELOCATE TO TAKE ADVANTAGE OF MEXICAN LABOR THAT HE SAYS WOULD PUSH FABRIC MAKERS SOUTH OF THE BORDER TOO FURTHER ERODING US MANUFACTURING WHAT WE'RE TALKING ABOUT HERE IS THE ECONOMIC STRENGTH OF OUR COUNTRY HE SAYS MR MILLIKEN'S CRUSADE APPARENTLY ARISES FROM A BLEND OF MOTIVES THE MILLIKEN FAMILY HAS BUILT ITS FORTUNE IN AN INDUSTRY THAT IS ESPECIALLY VULNERABLE TO LOWCOST COMPETITORS IN COUNTRIES SUCH AS CHINA PAKISTAN AND SRI LANKA DESPITE A TANGLE OF QUOTAS AND TARIFFS THAT SHIELDS THE US PRODUCERS FROM FOREIGN COMPETITION LOWCOST IMPORTS HAVE COST THE INDUSTRY DEARLY SINCE 1982 US TEXTILE AND APPAREL PRODUCERS HAVE CLOSED ABOUT 260 PLANTS AND JETTISONED 279000 WORKERS MR MILLIKEN BLAMES FOREIGN COMPETITION FOR EIGHT MILLIKEN & CO PLANT CLOSINGS SINCE 1981 ON A BROAD SCALE HE ARGUES THAT AMERICAN INTERESTS HAVE BEEN HURT BY ONESIDED TRADE POLICIES THAT MAINLY OPEN US MARKETS TO IMPORTS FRIENDS CALL HIM A PATRIOT AND AN ECONOMIC NATIONALIST HE EVEN INSISTS ON STOCKING THE COMPANY GUEST HOUSE WITH USMADE SHOE POLISH AND SHOWER CAPS SO MR MILLIKEN'S BIGGER TARGET IS THE MARATHON TRADE NEGOTIATIONS THAT THE CLINTON ADMINISTRATION WOULD LIKE TO WRAP UP NEXT MONTH UNDER THE AUSPICES OF THE GENERAL AGREEMENT ON TARIFFS AND TRADE THE ACCORD WOULD AMONG OTHER THINGS PHASE OUT THE SOCALLED MULTIFIBER ARRANGEMENT THAT CURRENTLY PROTECTS MILLIKEN & CO AND OTHER US PRODUCERS FROM CHEAP TEXTILE IMPORTS AT THE EXPENSE OF US CONSUMERS WHO ARE FORCED TO PAY HIGHER PRICES FOR CLOTHING AND OF DEVELOPING COUNTRIES WHOSE TEXTILE EXPORTS ARE CURBED BY QUOTAS AND TARIFFS DERAILING NAFTA MR NASH SAYS WOULD CAUSE A TRADEPOLICY TRAIN WRECK IN WASHINGTON BATTERING THE TRADEPOLICY ELITE INTO A MUCHWEAKENED POSITION FROM WHICH TO PUSH THROUGH A GATT AGREEMENT AND THE PHASEOUT OF THE WEB OF RULES PROTECTING US TEXTILE COMPANIES MR MILLIKEN'S PROTECTIONIST VIEWS BRING HIM INTO AN ODD COLLABORATION WITH THE SAME AMALGAMATED CLOTHING AND TEXTILE WORKERS UNION THAT HE SUCCESSFULLY FOUGHT FOR 24 YEARS TO KEEP OUT OF HIS MILLS AND FOR NOW HE IS ON THE INTELLECTUAL OUTS WITH LONGTIME FRIENDS SUCH AS DAVID ROCKEFELLER THE FORMER CHAIRMAN OF CHASE MANHATTAN BANK PETER GRACE JR THE CHAIRMAN OF WR GRACE & CO AND ROBERT GALVIN CHAIRMAN OF MOTOROLA INC'S EXECUTIVE COMMITTEE THE AMERICAN TEXTILE MANUFACTURERS INSTITUTE THE INDUSTRY'S LOBBY DISLIKES HIS ANTINAFTA STANCE TOO WALTER ELISHA CHAIRMAN OF TEXTILE GIANT SPRINGS INDUSTRIES INC SEES MR MILLIKEN AS A RENEGADE AMONG TEXTILEMILL OWNERS MR MILLIKEN IS A SOUL MATE OF PATRICK BUCHANAN AN AVOWED AMERICA FIRSTER HE SAYS HE IS FED UP WITH TRADE CONCESSIONS TO TEXTILEPRODUCING COUNTRIES FOR GEOPOLITICAL REASONS SUCH AS TO GAIN PERMISSION TO USE TURKISH AIR BASES FOR ATTACKS ON IRAQ DURING THE PERSIAN GULF WAR AND HE VOWS TO STOP THE DRAIN OF JOBS OVERSEAS AND SAVE THE REMNANTS OF THE US APPAREL INDUSTRY MR MILLIKEN ALSO APPARENTLY VIEWS HIMSELF AS SOMETHING OF A PHILOSOPHER WALLS AT HIS SPARTANBURG HEADQUARTERS ARE INSCRIBED WITH MAOLIKE SAYINGS FROM CHAIRMAN MILLIKEN SUCH AS WE'RE NOT HERE TO MASSAGE HISTORY WE'RE HERE TO MAKE HISTORY PERIODICALLY HE HOLDS FORTH IN THE MILLIKEN COLLOSEUM THE AMPHITHEATER WITH TWO CERAMIC LIONS AT THE DOOR ONE FAVORITE TOPIC IMPROVING QUALITY AND ENHANCING COMPETITIVENESS OUTSIDERS SEE LITTLE OF THE SPRAWLING TEXTILE EMPIRE'S WORKINGS HIS COMPANY IS LIKE A FORTRESS SAYS BETSY TETER THE SPARTANBURG HERALDJOURNAL'S BUSINESS EDITOR THEY DON'T LET ANYBODY IN AND THEY DON'T LET ANY NEWS OUT MR MILLIKEN IS SO RETIRING MR CHOATE ADDS HE MAKES HOWARD HUGHES LOOK LIKE A WILD EXTROVERT BUT CRITICS OF MR MILLIKEN'S TRADE POSITIONS NOTE THAT HIS PRIVATELY OWNED EMPIRE WHICH PULLS IN AN ESTIMATED 25 BILLION IN ANNUAL REVENUE FROM 28 BUSINESSES HAS GAINED MUCH FROM GLOBAL TRADE PARISIANS STROLL ON MILLIKEN CARPETS AT THE LOUVRE MUSEUM TENNIS BALLS WRAPPED IN MILLIKEN FELT ARE WHACKED AT WIMBLEDON NOTWITHSTANDING MR MILLIKEN'S ALLERGY TO NAFTA THE COMPANY SELLS WEDDINGGOWN MATERIAL TO MEXICAN BRIDES WE WILL CONTINUE DOING BUSINESS WITH MEXICO DESPITE WHAT YOU HEAR FROM OUR CHAIRMAN SAYS A MILLIKEN EXECUTIVE BASED IN NEW YORK AND DESPITE MR MILLIKEN'S BUYAMERICAN CAMPAIGN HIS COMPANY IS IMPORTING THE LATEST IN JAPANESE AND EUROPEAN LOOMS HE'S NOT THINKING OF WHAT'S GOOD FOR AMERICA SAYS LINDA WACHNER CHAIRWOMAN OF WARNACO INC A BIG APPAREL MANUFACTURER BASED IN NEW YORK HE'S THINKING OF WHAT'S GOOD FOR MILLIKEN SUCH ATTACKS DON'T FAZE HIM I'M HAPPY TO TAKE THE HEAT HE SAYS WE'RE TALKING ABOUT THE FUTURE OF MY COUNTRY AND MY GRANDCHILDREN'S LIVES THE VOTE ON NAFTA WILL BE A MAJOR TEST OF MR MILLIKEN'S LONGTERM APPROACH TO BUSINESS TRADE AND POLITICS FOR YEARS HE HAS ENGAGED IN WHAT ROLLING STONE WRITER WILLIAM GREIDER CALLS DEEP LOBBYING SUBSIDIZING THE THINK TANKS AND ECONOMISTS WHOSE OUTPUT INFLUENCES LAWMAKERS THE OBJECTIVE MR NASH SAYS IS TO CREATE THE INTELLECTUAL INFRASTRUCTURE FOR SWAYING PUBLIC OPINION ON CRUCIAL TRADE ISSUES A STATEMENT ATTACHED TO MR NASH'S RESUME IS EVEN MORE EXPLICIT WE ARE CHALLENGING THE CONVENTIONAL WISDOM ABOUT THE DESTRUCTIVE FREETRADE IDEOLOGY THAT HAS DONE SO MUCH DAMAGE TO OUR INDUSTRY AND OUR COUNTRY MR MILLIKEN CONTRIBUTED 50000 LAST YEAR AND 25000 THIS YEAR TO THE CENTER FOR PUBLIC INTEGRITY WHICH IS HEADED BY CHARLES LEWIS A CRITIC OF FOREIGN LOBBYING ON TRADE ISSUES MR CHOATE'S MANUFACTURING POLICY PROJECT RELIES ON MR MILLIKEN FOR 120000 A YEAR OR ONETHIRD OF ITS BUDGET THE US BUSINESS AND INDUSTRIAL COUNCIL A CONSERVATIVE LOBBY FOR MEDIUMSIZED COMPANIES GETS ABOUT 20000 OF ITS 1 MILLION BUDGET FROM MR MILLIKEN ALTHOUGH MR MILLIKEN AND WILLIAM F BUCKLEY EDITOR OF THE NATIONAL REVIEW DISAGREE ON NAFTA MILLIKEN & CO CONTINUES TO BUY FULLPAGE ADS COSTING BETWEEN 5000 AND 9000 APIECE IN THE CONSERVATIVE JOURNAL EVERY MONTH PAYFORTHOUGHT HAS ITS PITFALLS HOWEVER MR MILLIKEN WAS A FOUNDING CONTRIBUTOR TO THE ECONOMIC STRATEGY INSTITUTE A GENERALLY PROTECTIONIST THINK TANK RUN BY CLYDE PRESTOWITZ A FORMER COMMERCE DEPARTMENT OFFICIAL BUT DESPITE MR MILLIKEN'S 150000 DONATION THIS YEAR TOWARD THE INSTITUTE'S 13 MILLION BUDGET MR PRESTOWITZ DEFECTED ON NAFTA WHAT'S MORE MR MILLIKEN AND THE TEXTILE LOBBY COULDN'T MUSTER ENOUGH VOTES TO OVERCOME VETOES TWO BY PRESIDENT REAGAN AND ONE BY PRESIDENT BUSH OF PROTECTIONIST TRADE LEGISLATION AND SOME GOP CONGRESSIONAL CANDIDATES TO WHOM THE MILLIKEN FAMILY CONTRIBUTED HEAVILY ARE BACKING NAFTA ONE BIG DISAPPOINTMENT HOUSE MINORITY LEADER NEWT GINGRICH WHO HAS RECEIVED AT LEAST 18000 SINCE 1980 FROM MR MILLIKEN AND HIS WIFE JUSTINE PRESIDENT CLINTON IS COUNTING ON THE GEORGIA REPUBLICAN TO DELIVER 120 PRONAFTA GOP VOTES BUT IF REP GINGRICH DOESN'T DELIVER OR IF WAVES OF DEMOCRATS DEFECT THE RESULTING NAFTA DEFEAT WOULD MAKE UP FOR MR MILLIKEN'S EARLIER DISAPPOINTMENTS VIRTUALLY EVERYTHING ABOUT THE PACT RILES HIM JABBING AT THE BRITISH SPELLING OF THE WORD LABOUR IN ONE OF THE SIDE AGREEMENTS HE BARKS LOOK THAT'S NOT AMERICAN 9311150097 931115 SMALL STOCK FOCUS BED BATH'S STOCK HAS DEVOTED FOLLOWERS DESPITE HEFTY PRICEEARNINGS MULTIPLE BY WARREN GETLER STAFF REPORTER OF THE WALL STREET JOURNAL NEW YORK AS ITS NAME IMPLIES BED BATH & BEYOND ISN'T JUST SHEETS AND TOWELS JUST HOW MUCH THE BED AND BATH STUFF CONTRIBUTES AND HOW MUCH COMES FROM BEYOND ISN'T CLEAR WHAT IS CLEAR THOUGH IS THAT CONSUMERS AND INVESTORS LOVE IT SALES ARE GROWING AT A DOUBLEDIGIT RATE AND ITS STOCK HAS CLIMBED 68 THIS YEAR ALONE PRICED IN ITS JUNE 1992 INITIAL PUBLIC OFFERING AT 8 1/2 THE SPECIALITY RETAILER'S STOCK HAS QUADRUPLED IN VALUE CLIMBING TO A HIGH OF 34 3/4 LAST MONTH ADJUSTED FOR A 2FOR1 STOCK SPLIT IN JULY LATELY THE HOME FURNISHINGS CHAIN HAS SEEN ITS SHARES BACKTRACK A BIT TO SLIGHTLY MORE PEDESTRIAN LEVELS ON FRIDAY THE STOCK CLOSED AT 31 1/4 ON THE NASDAQ STOCK MARKET UP 1/8 AND UP 46 FOR THE WEEK BUT EVEN THAT MODEST RETREAT FROM THE PEAK LEAVES THE STOCK TRADING AT A HEFTY MULTIPLE OF 55 TIMES TRAILING 12 MONTHS' EARNINGS IT'S NOT A CHEAP STOCK FOR SURE BUT IT'S DELIVERING SAYS SUSAN HIRSCH WHO TRACKS SMALLCAP GROWTH COMPANIES FOR LEHMAN BROTHERS SHE RATES BED BATH A BUY BUT CAUTIONS THAT AT CURRENT PRICE LEVELS SUCH AN ENDORSEMENT ISN'T A TABLEPOUNDER THE STOCK'S SEEMINGLY RICH PRICE NOTWITHSTANDING A NUMBER OF MONEY MANAGERS AND ANALYSTS SEEM DEVOTED TO THE SPRINGFIELD NJ COMPANY NOT LEAST FOR ITS DEMONSTRATED EARNINGS MOMENTUM EARNINGS FORECASTS ARE NOT ONLY BEING MET BY THE COMPANY THEY'RE HAVING TO BE REVISED UPWARD SAYS LEHMAN'S MS HIRSCH THE COMPANY FOR EXAMPLE BESTED WALL STREET ESTIMATES FOR THE SECOND QUARTER ENDED AUG 29 REPORTING PERSHARE EARNINGS OF 18 CENTS OR 20 ABOVE CONSENSUS FORECASTS OF 15 CENTS AND WELL ABOVE THE 12 CENTS A SHARE A YEAR EARLIER THE COMPANY MS HIRSCH SAYS IS SET TO POST EARNINGS GROWTH OF 28 OR BETTER OVER THE NEXT FEW YEARS AFTER REPORTING A 30 INCREASE IN PERSHARE EARNINGS TO 47 CENTS FOR THE YEAR ENDED IN FEBRUARY IT'S BEEN HARD TO FIND GOOD SOLID BOTTOMLINE GROWTH IN ANY SECTOR AMONG SMALL CAPS SHE ADDS FOR THOSE COMPANIES CAPITALIZED AT BETWEEN 100 MILLION AND 25 BILLION IF YOU CAN DELIVER 25 BOTTOMLINE GROWTH YOU'RE DOING VERY WELL BED BATH IS CURRENTLY VALUED AT AROUND 116 BILLION HOT PERFORMER ANALYSTS NOTE THAT BED BATH WAS A HOT PERFORMER IN THE THIRD QUARTER POWERING AHEAD TO 32 1/2 BY THE END OF SEPTEMBER FROM 20 7/8 AT THE BEGINNING OF JULY THE ONLY COMPARABLE GAINERS IN THE SMALLSTOCK ARENA WERE CELLULAR COMMUNICATIONS AND TECHNOLOGY STOCKS OTHER RETAILERS INCLUDING A NUMBER OF BIG DEPARTMENT STORES GENERALLY LAGGED BEHIND THE MARKET HAMMERED BY ADVERSE WEATHER CONDITIONS AND A GENERALLY SLOW ENVIRONMENT FOR CONSUMER SPENDING BED BATH'S FORMULA OFFERING A SUPERSTORE ONESTOP SHOPPING VENUE FOR MOSTLY BRANDNAME LINENS TOWELS KITCHENWARE AND OTHER HOME APPLIANCES AT DISCOUNT PRICES IS PAYING OFF SOME OF ITS FANS SAY THOSE PRICES ARE OFTEN AT DISCOUNTS OF AS MUCH AS 20 TO DEPARTMENT STORE SALES PRICES DEPENDING ON THE ITEMS AND ALMOST ALWAYS AT 20 TO 40 BELOW THEIR REGULAR PRICES THE CHAIN HAS 45 STORES IN 12 STATES SAMESTORE SALES ROSE 129 IN OCTOBER AFTER A 136 RISE IN SEPTEMBER THAT'S WELL UP ON AN AVERAGE 46 RISE AMONG THE NATION'S LARGEST RETAILERS BASED ON DATA COMPILED BY SALOMON BROTHERS INC AND ALEX BROWN & SONS BED BATH & BEYOND WILL DO BETTER THAN MOREDIVERSIFIED COMPANIES INCLUDING THE BIG DEPARTMENT STORES IN A SLOWGROWTH ENVIRONMENT BECAUSE THEY HAVE MORE OF A FOCUS SAYS H GILES KNIGHT OF ASB CAPITAL MANAGEMENT INC IN WASHINGTON MR KNIGHT'S CAPITOL SPECIAL EQUITY FUND HAS ABOUT 15 OF ITS PORTFOLIO OR AROUND 25 MILLION INVESTED IN THE RETAILER FOR NOW HOWEVER HE'S NOT ACCUMULATING MORE STOCK NOTING THAT A CORRECTION COULD BE LURKING AS WITH ANY MOMENTUM STOCK THE RISK IS THAT THE PRICE CAN TUMBLE ON THE SLIGHTEST EARNINGS OR SALES DISAPPOINTMENTS HE NOTES IN A STOCK LIKE THIS YOU'RE PAYING FOR GROWTH AND PAYING A HIGH PRICE HE SAYS SO IF FOR ANY REASON CHRISTMAS IS A LITTLE BIT SLOWER AND IF COMPARABLESTORE SALES COME IN A LITTLE BELOW EXPECTATIONS YOU COULD SEE THIS STOCK COME OFF A CORRECTION WOULD PRESENT A BUYING OPPORTUNITY HE ADDS DOUG FOREMAN PORTFOLIO MANAGER OF PUTNAM'S SPECIALITY GROWTH EQUITIES GROUP IN BOSTON NOTES THAT THE STOCK IS TRADING AT A MULTIPLE OF 37 TIMES STREET ESTIMATES OF EARNINGS FOR THE NEXT 12 MONTHS IT'S NOT RIDICULOUSLY OVERVALUED FOR A FASTGROWTH EXTREMELY PROFITABLE RETAILER WITH NO EFFECTIVE NATIONAL COMPETITION HE SAYS WHEN THE MULTIPLE ON FORWARD EARNINGS GETS DOWN TOWARD 30 TIMES THE STOCK WOULD BECOME MORE ATTRACTIVE TO THE POINT WHERE HE MIGHT ADD TO HIS FUND'S POSITION SMALLCOMPANY STOCKS HUNG ON TO THE SLIMMEST OF GAINS TO END HIGHER FOR A FIFTH STRAIGHT SESSION THE RUSSELL 2000 INDEX WHICH MEASURES THE PERFORMANCE OF SMALLCAPITALIZATION STOCKS ON THE NASDAQ STOCK MARKET AND THE OTHER MAJOR EXCHANGES INCHED UP 041 POINT OR 016 TO END AT 25794 AFTER TRADING IN A NARROW RANGE FOR THE ENTIRE SESSION FOR THE WEEK THE RUSSELL 2000 JUMPED 483 POINTS OR 190 VITAL SIGNS A MEDICAL PRODUCTS MANUFACTURER PLUNGED 6 1/2 OR 32 TO 13 3/4 ON 20 TIMES NORMAL TRADING VOLUME ON THE NASDAQ STOCK MARKET THE COMPANY CITING THE HIGH COSTS OF ITS EXPANSION INTO EUROPE AND A POOR PERFORMANCE BY A NEWLY ACQUIRED SUBSIDIARY REPORTED DISAPPOINTING FOURTHQUARTER EARNINGS LATE THURSDAY TRIGGERING DOWNGRADES BY TWO WALL STREET ANALYSTS FRIDAY THE MAKER OF SINGLEPATIENTUSE MEDICAL PRODUCTS POSTED EARNINGS OF 21 CENTS A SHARE DOWN FROM 24 CENTS A YEAR EARLIER AND BELOW ANALYSTS' EXPECTATIONS OF 29 CENTS HAMBRECHT & QUIST ANALYST KURT KRUGER AND PRUDENTIAL SECURITIES' CHARLES OLSZIEWSKI LOWERED THEIR INVESTMENT RATINGS ON THE STOCK TO HOLD FROM BUY JUST TOYS SLIPPED 1 3/8 TO 9 1/2 THE TOY MAKER'S THIRDQUARTER EARNINGS FELL TO 19 CENTS A SHARE FROM 39 CENTS JUST TOYS ADDED THAT IT EXPECTS FOURTHQUARTER EARNINGS AND FULLYEAR NET TO BE BELOW EXPECTATIONS CAITLIN MOLLISON CONTRIBUTED TO THIS ARTICLE 9311150096 931115 CLOSED END FUNDS FRIDAY NOVEMBER 12 1993 BY THE COMPANIES AS OF FRIDAY'S CLOSE EACH QUOTE INCLUDES THE CLOSING STOCK EXCHANGE PRICE OR DEALERTODEALER ASKED PRICE OF EACH FUND'S SHARES WITH THE PERCENTAGE OF DIFFERENCE FOR EQUITY FUNDS THE FINAL COLUMN SHOWS DIVIDENDS PAID FROM INCOME IN THE LAST 12 MONTHS AS OF THE PRIOR MONTHEND AS A PERCENTAGE OF THE STOCK MARKET PRICE THE FIGURE DOESN'T INCLUDE CAPITAL GAINS DISTRIBUTIONS NNEW YORK STOCK EXCHANGE OOVERTHECOUNTER AAMERICAN CCHICAGO 9311150095 931115 PEPPERAND SALT NOTING THE GALLONS THAT IT TOOK I WROTE DOWN IN MY BOOK BUT FORGOT TO REPLACE THE GAS TANK CAP 9311150094 931115 MULTIMEDIA PATENTS MAY RAISE PRICE OF INFORMATION HIGHWAY BY DON CLARK STAFF REPORTER OF THE WALL STREET JOURNAL SOFTWARE PATENTS COULD TURN THE INFORMATION HIGHWAY INTO A TOLL ROAD COMPTON'S NEWMEDIA THE LARGEST SELLER OF SOFTWARE ON CDROM DISKS WILL DISCLOSE TODAY THAT IT HAS RECEIVED A FUNDAMENTAL PATENT ON MULTIMEDIA PROGRAMS THAT STORE AND RETRIEVE GRAPHICS SOUND AND ANIMATION AS WELL AS TEXT THE COMPANY A UNIT OF TRIBUNE CO COULD USE THE PATENT TO SEEK ROYALTIES ON COMPETITORS' CDROM SALES AS WELL AS SIMILAR SEARCHANDSTORAGE METHODS USED WITH INTERACTIVE TELEVISION AND COMPTON'S ISN'T THE ONLY COMPANY ASSERTING BROAD CLAIMS TO INNOVATIONS IN SOFTWARE TESTDRIVE CORP TEKTRONIX INC AND STARSIGHT TELECAST INC ARE SEEKING TO ENFORCE FUNDAMENTAL PATENTS AS WELL IF SUCCESSFUL SUCH EFFORTS COULD RAISE COSTS IN THE MULTIMEDIA BUSINESS AND REIGNITE A LONGRUNNING DEBATE OVER WHETHER PATENTS ENCOURAGE OR DISCOURAGE INNOVATION IN THE FASTMOVING SOFTWARE FIELD COMPTON'S LICENSING PLANS WILL BE OUTLINED TOMORROW AT THE COMDEX TRADE SHOW IN LAS VEGAS ANALYSTS THINK THE PATENT COULD SPUR A BATTLE WITH MICROSOFT CORP ANOTHER BIG FORCE IN CDROMS THAT IS CHALLENGING COMPTON'S IN THE MARKET FOR MULTIMEDIA ENCYCLOPEDIA SOFTWARE THIS HAS TO BE THE BIG NEWS IN THE INDUSTRY FOR SOME TIME TO COME SAID JONATHAN EPSTEIN PUBLISHER OF MULTIMEDIA WORLD AN INDUSTRY MAGAZINE BASED IN SAN FRANCISCO PEOPLE ARE GOING TO HAVE TO TAKE THIS SERIOUSLY AND CONSIDER WHETHER THEY WANT TO KNUCKLE UNDER AND PAY ROYALTIES TO COMPTON'S ADDED RONALD STAR A SAN FRANCISCO PATENT ATTORNEY LAST WEEK TESTDRIVE A 25EMPLOYEE COMPANY IN SANTA CLARA CALIF ANNOUNCED A PATENT ON A PROMISING TECHNIQUE THAT LETS COMPUTER USERS TRY MULTIPLE PROGRAMS ON A CDROM BEFORE THEY BUY THEM IF THEY LIKE ONE THEY MAY GIVE A CREDITCARD NUMBER TO THE SOFTWARE SUPPLIER AND RECEIVE A CODE THAT GIVES FULL USE OF THE SOFTWARE NATHAN SCHULHOF TESTDRIVE'S CHIEF EXECUTIVE BELIEVES THE PATENT WILL ALSO COVER SYSTEMS FOR CONTROLLING ELECTRONIC DELIVERY OF MOVIES MUSIC AND OTHER DATA TO THE HOME TEKTRONIX BASED IN BEAVERTON ORE HAS WON A PATENT ON SOFTWARE THAT USES INDEXES TO DISPLAY VIDEO IMAGES STARSIGHT TELECAST A COMPANY IN FREMONT CALIF HAS SUED TWO COMPETITORS OVER PATENTS FOR ONSCREEN MENU SYSTEMS THAT MAY BECOME CRUCIAL FOR NAVIGATING THROUGH EXPANDED TV SERVICES NOT ONLY WILL THERE BE TOLL TAKERS ON THE INFORMATION HIGHWAY ITSELF BUT ON THE ON RAMPS LEADING TO IT SAID RONALD LAURIE AN ATTORNEY IN MENLO PARK CALIF WHO SPECIALIZES IN TECHNOLOGY LAW SOFTWARE PATENTS ARE A RELATIVELY NEW BATTLEGROUND MOST DISPUTES IN THE BUSINESS HAVE FOCUSED ON COPYRIGHTS WHICH PROTECT ARTISTIC EXPRESSION SUCH AS THE APPEARANCE OF COMPUTERSCREEN DISPLAYS BUT A SUPREME COURT RULING IN 1981 CLEARED THE WAY FOR THE USE OF PATENTS WHICH GIVE 17 YEARS OF EXCLUSIVE PROTECTION TO AN INVENTION AFTER AN EXAMINATION BY THE US PATENT OFFICE TO RECEIVE A PATENT MR LAURIE NOTED A PROGRAM MUST INCLUDE AN ORIGINAL PROCESS AND A DETAILED DESCRIPTION OF HOW TO IMPLEMENT IT COMPTON'S SAYS IT FULFILLED BOTH REQUIREMENTS IN 1989 CDROMS WHICH RESEMBLE COMPACT DISKS AND OFFER VERY LARGE STORAGE CAPACITY HAD UNTIL THAT POINT MAINLY STORED TEXTUAL INFORMATION SAID STANLEY FRANK COMPTON'S CHIEF EXECUTIVE OFFICER TO SEARCH THE DISKS USERS TYPICALLY TYPED IN A WORD OR GROUP OF WORDS AND WERE PRESENTED WITH A LIST OF REFERENCES THAT CONTAINED THE WORDS FOR ITS MULTIMEDIA ENCYCLOPEDIA MR FRANK SAID COMPTON'S SET OUT TO DEVELOP A SYSTEM THAT STORED GRAPHICS ANIMATION AND SOUND AND ALLOWED USERS TO SEARCH THROUGH THE DATABASE BY MEANS OF GRAPHICS AS WELL AS TEXT A MOUSE POINTING DEVICE LET A USER CLICK ON A MAP OF THE WORLD TO FIND INFORMATION ABOUT A PLACE FOR EXAMPLE OR ON A TIMELINE TO RESEARCH HISTORY THE COMPANY APPLIED FOR THE PATENT IN OCTOBER 1989 JUST AFTER THE RELEASE OF COMPTON'S MULTIMEDIA ENCYCLOPEDIA THE PATENT DESCRIBED AS A MULTIMEDIA SEARCH SYSTEM USING A PLURALITY OF ENTRY MEANS WHICH INDICATE INTERRELATEDNESS OF INFORMATION WAS GRANTED AUG 31 ONLY PROGRAMS SOLD AFTER THAT DATE COULD INFRINGE ON THE PATENT COMPTON'S WHICH DISTRIBUTES ABOUT 150 CDROM TITLES CREATED BY IT AND 20 AFFILIATED DEVELOPERS PLANS TO LICENSE THE INVENTION WIDELY MR FRANK SAID SOFTWARE DEVELOPERS MAY USE THE TECHNOLOGY IF THEY ENTER INTO A DISTRIBUTION RELATIONSHIP OR JOINT VENTURE WITH COMPTON'S OR IF THEY USE ITS AUTHORING SOFTWARE OTHERS MAY PAY A SMALL ROYALTY MR FRANK WOULD NOT IMMEDIATELY DISCLOSE THE AMOUNT BUT PEOPLE FAMILIAR WITH COMPTON'S PLANS EXPECT THE FEE TO BE 1 TO 2 OF SALES IN NO WAY DO WE WANT TO BE PREVENTIVE OR PUNITIVE MR FRANK SAID WE WANT TO WORK WITH EVERYBODY TO CONTINUE TO GROW THIS VIBRANT AND EXCITING INDUSTRY WE'VE DEVELOPED BUT OTHERS DON'T EXPECT A WARM RESPONSE TO COMPTON'S PLAN INFOTECH A MARKETRESEARCH CONCERN IN WOODSTOCK VT ESTIMATES THAT THERE WILL BE 7183 CDROM TITLES IN PRINT BY THE END OF THIS YEAR MANY OF THEM USE GRAPHICAL INFORMATIONSTORAGE TECHNIQUES SIMILAR TO COMPTON'S THERE WILL BE ANGER AND DISBELIEF BECAUSE THERE WILL BE A LOT OF PRODUCTS THAT HAVE BEEN ON THE MARKET THAT OVERNIGHT BECOME UNLAWFUL SAID PATRICIA THAYER A PATENT ATTORNEY IN SAN FRANCISCO MICROSOFT IS CONSIDERED A LIKELY TARGET FOR COMPTON'S BECAUSE OF ITS STRONG CDROM SALES WHICH INCLUDE A MULTIMEDIA ENCYCLOPEDIA CALLED ENCARTA THAT COMPETES WITH COMPTON'S FLAGSHIP PRODUCT TOM CORDDRY MICROSOFT'S BUSINESS UNIT MANAGER OF MULTIMEDIA PUBLISHING SAID HE COULDN'T COMMENT ON THE SIGNIFICANCE OF THE PATENT UNTIL MICROSOFT HAD TIME TO STUDY IT PATENT ATTORNEYS PREDICTED THAT COMPETITORS WILL ATTACK COMPTON'S PATENT BY FINDING EARLIER INVENTIONS THAT WOULD PROVE THE COMPANY'S WORK WAS NOT ORIGINAL THAT MAY NOT BE TOO DIFFICULT BECAUSE THE DATABASE AREA HAS PRODUCED SO MANY PRODUCTS OVER THE YEARS SAID DAVID BINNEY A PATENT LAWYER IN SEATTLE AS MORE SUCH PATENTS EMERGE PROGRAMMERS' ALREADYTHIN PROFITS COULD BE SQUEEZED BY THE NEED TO PAY ROYALTIES TO SEVERAL PATENT HOLDERS IT STRIKES ME THAT THINGS ARE A LITTLE CROWDED ALREADY SAID ROBERT BARR AN ATTORNEY IN PALO ALTO CALIF NICK ARNETT A CONSULTANT WHO IS PRESIDENT OF MULTIMEDIA COMPUTING CORP IN SAN JOSE CALIF ARGUED THAT COMPTON'S PATENT COULD DISCOURAGE VITAL RESEARCH NEEDED TO MAKE IT EASIER TO SEARCH THROUGH GROWING MASSES OF DIGITAL INFORMATION INFORMATION NAVIGATION IS THE SINGLE LARGEST OBSTACLE HE SAID SUCH BROAD PATENTS ARE GOING TO BE A SIGNIFICANT DETERRENT TO THE REAL GROWTH OF THE INDUSTRY A PUBLIC OUTCRY RECENTLY CAUSED OPTICAL DATA CORP A COMPANY IN WARREN NJ TO GIVE UP ANY PLAN TO ENFORCE A PATENT ON VIDEODISK TECHNOLOGY USED IN THE CLASSROOM WILLIAM CLARK THE COMPANY'S CHAIRMAN SAID OPTICAL DATA PUT THE PATENT IN THE PUBLIC DOMAIN IN REACTION TO FEARS THAT THE COMPANY WOULD FILE SUITS AGAINST TEACHERS THERE WAS A HUGE OUTBURST AND WE RETREATED HE SAID 9311150093 931115 TECHNOLOGY A SPECIAL REPORT A NEW WORLD HELPING HANDS THE NETWORKS HAVE BEEN A BOON TO SCIENTIFIC RESEARCHERS BY JERRY E BISHOP ROBERT NUSSBAUM WORKS IN GENETICS A FIELD FULL OF SURPRISES BUT FEW DEVELOPMENTS HAVE SURPRISED HIM MORE THAN A PHONE CALL HE RECEIVED ONE DAY LAST YEAR IN HIS LABORATORY AT THE HOWARD HUGHES MEDICAL INSTITUTE ON THE UNIVERSITY OF PENNSYLVANIA CAMPUS THE CALL CAME FROM ANOTHER GENETICIST JOSEPH GOLDSTEIN AT THE UNIVERSITY OF TEXAS SOUTHWESTERN MEDICAL CENTER IN DALLAS AS THE PHILADELPHIA SCIENTIST WAS WELL AWARE DR GOLDSTEIN AND A COLLEAGUE MICHAEL S BROWN HAD WON NOBEL PRIZES FOR THEIR RESEARCH INTO THE GENETICS OF CHOLESTEROL AND HEART DISEASE BUT ON THIS DAY DR GOLDSTEIN WAS CALLING ON A DIFFERENT SUBJECT THE TEXAS RESEARCHERS USING THE INTERNET TO TAP A HUGE GENETICS DATABASE HAD RUN ACROSS SOME DATA FROM DR NUSSBAUM INVOLVING A RARE FORM OF BLINDNESS IT APPEARED DR GOLDSTEIN SAID THAT ALTHOUGH THE SCIENTISTS WERE WORKING ON DIFFERENT PROBLEMS THEY EACH HAD ANSWERS TO QUESTIONS PLAGUING THE OTHER THEIR CONTACT TYPIFIES THE SPEED AND REACH OF COMPUTER NETWORKS THAT HAVE TRANSFORMED MODERN SCIENTIFIC COMMUNICATION EVEN LESS THAN A DECADE AGO BEFORE COMPUTER NETWORKS LINKED SCIENTIFIC LABORATORIES TO DISTANT DATA BANKS AND TO ONE ANOTHER IT WOULD HAVE TAKEN SEVERAL MONTHS FOR DR NUSSBAUM'S FINDINGS TO REACH OTHER RESEARCHERS THROUGH A SCIENTIFIC JOURNAL AND WITHOUT ELECTRONIC FILING AND SEARCHING ANOTHER SCIENTIST MIGHT EASILY MISS THE JOURNAL ARTICLE AND FAIL TO REALIZE THAT HE AND DR NUSSBAUM WERE WORKING ON THE SAME PROBLEM UNDER DIFFERENT GUISES BOTH RESEARCHERS WOULD HAVE GONE THEIR OWN WAY UNAWARE THAT ANSWERS TO THEIR PROBLEMS WERE ONLY A PHONE CALL AWAY INSTEAD THE CROSSING OF DR NUSSBAUM'S AND DR GOLDSTEIN'S PATHS ON THE DATA NETWORK BEGAN WHAT MAY BECOME A BREAKTHROUGH AGAINST A FORM OF BLINDNESS WITH THE TONGUETWISTING NAME OF CHOROIDEREMIA THE DISORDER A TYPE OF RETINITIS PIGMENTOSA IS A SLOW DESTRUCTION OF THE RETINA CAUSED BY THE DEGENERATION OF THE CHOROID THE TISSUE THAT SUPPLIES THE RETINA WITH BLOOD IT BEGINS WITH A LOSS OF NIGHT VISION BUT MAY PROGRESS TO TUNNEL VISION OR BLINDNESS BY MIDDLE AGE IT IS SUFFERED BY ABOUT 4000 TO 5000 PEOPLE IN THE US ESTIMATES THE RETINITIS PIGMENTOSA FOUNDATION IN BALTIMORE AS RECENTLY AS 1990 LITTLE WAS KNOWN ABOUT THE CAUSE OF CHOROIDEREMIA EXCEPT THAT IT WAS INHERITED ALMOST EXCLUSIVELY BY MALES THROUGH A DEFECTIVE GENE LOCATED SOMEWHERE ON THE X CHROMOSOME OTHERWISE THE DISORDER WAS A MEDICAL MYSTERY IN THE TWO YEARS BEFORE THE PHONE CALL FROM DR GOLDSTEIN HOWEVER A TEAM OF RESEARCHERS IN THE NETHERLANDS AND DR NUSSBAUM AND HIS COLLEAGUES IN PHILADELPHIA MADE A SERIES OF RAPID ADVANCES AGAINST CHOROIDEREMIA THEY PINPOINTED THE DEFECTIVE GENE PLUCKED IT OUT OF THE X CHROMOSOME AND UNRAVELED ITS MOLECULAR MAKEUP BY 1992 THEY FACED THE NEXT BIG HURDLE TO DISCOVER HOW THE DEFECT IN THE GENE COULD LEAD TO BLINDNESS LIKE ALL GENES THE HEALTHY CHM GENE AS THE CHOROIDEREMIA GENE WAS DUBBED DICTATES THE SEQUENCE IN WHICH SIMPLE AMINOACID MOLECULES ARE STRUNG TOGETHER TO FORM A PROTEIN WITH THE CHM GENE IN HAND SCIENTISTS COULD FIGURE OUT THE PROBABLE SEQUENCE OF THE PROTEIN'S AMINOACID MOLECULES BUT WE HAD NO IDEA WHAT THE FUNCTION OF THE PROTEIN WAS MUCH LESS HOW THE DEFECTIVE VERSION OF THE PROTEIN COULD LEAD TO BLINDNESS DR NUSSBAUM SAYS HE TURNED FOR HELP TO GENBANK A HUGE DATA BANK MAINTAINED BY THE NATIONAL CENTER FOR BIOTECHNOLOGY INFORMATION AN ARM OF THE FEDERAL NATIONAL LIBRARY OF MEDICINE IN BETHESDA MD GENBANK CONTAINS THE MOLECULAR SEQUENCES OF ALL KNOWN GENES AND THE PROTEINS THEY PRODUCE 112000 SEQUENCES AS OF APRIL GENBANK IS UPDATED ALMOST DAILY AS SEQUENCES OF NEWLY DISCOVERED GENES AND PROTEINS POUR IN OVER THE INTERNET FROM SCIENTISTS AROUND THE WORLD AND FROM COLLABORATING DATA BANKS IN GERMANY AND JAPAN PLANS CALL FOR ANYONE FILING A NEW GENE OR PROTEIN SEQUENCE TO BE ABLE TO SIMPLY ATTACH A DIGITAL REQUEST TO BE NOTIFIED BY COMPUTER WHEN SIMILAR SEQUENCES ARE FOUND BUT DR NUSSBAUM COULDN'T DO THAT YET IN 1992 WHEN HE SENT THE MOLECULAR SEQUENCE OF THE CHM GENE AND ITS PROTEIN TO GENBANK OVER THE INTERNET A FEW MONTHS LATER A RESEARCHER IN DR GOLDSTEIN'S LAB FILED ANOTHER PROTEIN SEQUENCE TO GENBANK ASKING GENBANK'S COMPUTER WHETHER IT HAD ANY SIMILAR SEQUENCES ON FILE THE COMPUTER COMPARED THE SEQUENCE FROM THE TEXAS LAB TO THOSE ON FILE AND REPORTED BACK THE SIMILAR SEQUENCE FILED BY DR NUSSBAUM THAT GOT DR GOLDSTEIN ON THE PHONE TO PHILADELPHIA HE AND HIS FELLOW NOBEL WINNER DR BROWN AND A COLLEAGUE MIGUEL C SEABRA WERE DEEP INTO THE STUDY OF A FAMILY OF PROTEINS CALLED RAB PROTEINS FOUND INSIDE ALL CELLS THE PROTEINS APPEAR TO BE INVOLVED IN THE CHEMICAL SWITCHES THAT CAUSE TINY STRUCTURES INSIDE CELLS TO TURN ON AND OFF THOUGH THE PROTEINS TRIGGER A VARIETY OF VITAL REACTIONS INSIDE CELLS THEY SEEM TO DO THEIR ONOFF SWITCHING BY THE SAME BASIC MECHANISM HENCE THEIR ACTIVITY MUST BE A KEY TO SOME OF THE BASIC PROCESSES OF LIFE THE POSTULATED SEQUENCE OF THE CHM PROTEIN DR GOLDSTEIN SAID WAS QUITE CLOSE TO ONE OF THE RAB PROTEINS BEING STUDIED IN DALLAS A PROTEIN CALLED RAB GG TRANSFERASE THE DALLAS RESEARCHERS WHO HADN'T KNOWN THE FUNCTION OF THE RAB GG TRANSFERASE PROTEIN NOW ASSUMED IT WAS INVOLVED WITH THE RETINA THEY IMMEDIATELY BEGAN A SERIES OF EXPERIMENTS TO SEE WHETHER THE PROTEIN PLAYED A PART IN CAUSING CHOROIDEREMIA EARLIER THIS YEAR THEY PUBLISHED THEIR FINDINGS CELLS FROM PATIENTS WITH CHOROIDEREMIA WERE DEFICIENT IN ONE COMPONENT OF THE RAB GG TRANSFERASE PROTEIN THE TEXANS REPORTED SINCE THE PATIENTS HAD A DEFECTIVE CHM GENE THIS HELPED TO CONFIRM THAT THE CHM PROTEIN WAS INDEED A COMPONENT OF RAB GG TRANSFERASE AND THAT THEIR PROGRESSIVE BLINDNESS WAS DUE TO A DEFICIENCY IN THE RAB GG TRANSFERASE COMPONENT THE DISCOVERY HASN'T YET PRODUCED ANY BENEFIT FOR THOSE AFFLICTED WITH THE RARE BLINDNESS BUT FOR THE FIRST TIME WE CAN NOW START TO ASK WHAT IS GOING ON HERE' SAYS DR NUSSBAUM WHO RECENTLY MOVED HIS RESEARCH TO THE NATIONAL INSTITUTES OF HEALTH IN BETHESDA ALREADY THE TEXAS SCIENTISTS HAVE PROPOSED FOUR THEORIES ON HOW A DEFICIENCY IN THE RAB GG TRANSFERASE PROTEIN MIGHT LEAD TO DAMAGE OF THE RETINA AND THEY HAVE BEGUN EXPERIMENTS TO TEST THEM MR BISHOP IS A STAFF REPORTER IN THE WALL STREET JOURNAL'S NEW YORK BUREAU 9311150092 931115 TECHNOLOGY A SPECIAL REPORT ESSAY AHEAD OF OURSELVES AN ONLINE VETERAN HAS NO DOUBTS THE REVOLUTION WILL COME BUT NOT AS QUICKLY AS MANY PEOPLE THINK BY DENISE CARUSO WHEN I HEAR PEOPLE TALK ABOUT THE INFORMATION SUPERHIGHWAY I ALWAYS FLASH ON A SCENE FROM THE MOVIE REPO MAN IT'S THE PART WHERE EMILIO ESTEVEZ AND HARRY DEAN STANTON MEET UP WITH THEIR ARCHRIVALS THE MARTINEZ BROTHERS AND COMMENCE TO PLAY A HIGHSPEED GAME OF CHICKEN UP AND DOWN THE BANKS OF THE LOS ANGELES RIVER AQUEDUCT THAT SCENE IS A PRETTY ACCURATE METAPHOR FOR WHAT THE ONLINE WORLD IS LIKE ALTHOUGH YOU USUALLY SEEM TO BE GETTING SOMEWHERE THERE'S A GOOD CHANCE THAT YOU WILL CRASH BEFORE YOU REACH YOUR DESTINATION AND WHEN YOU DO MANAGE TO GET THERE SAFELY YOU'RE NOT ALWAYS SURE WHAT THE FUSS WAS ABOUT IN THE FIRST PLACE DON'T GET ME WRONG THERE ISN'T A SHRED OF DOUBT IN MY MIND THAT ONLINE INFORMATION SERVICES AND ENTERTAINMENT WILL EVENTUALLY BECOME A NEARLY INVISIBLE THREAD IN THE TAPESTRY OF HUMAN COMMUNICATION MOREOVER IF YOU'RE WILLING TO OVERLOOK THE PROBLEMS OF HANGING OUT IN CYBERSPACE YOU CAN FIND YOURSELF CHATTING IT UP WITH SOME OF THE STRANGEST MOST BRILLIANT PEOPLE IMAGINABLE MOST OF WHOM YOU WILL NEVER SEE F2F FACE TO FACE AND ALL OF WHOM SEEM TO HAVE LITTLE ELSE TO DO BUT POUR THEIR FORMIDABLE INTELLIGENCE INTO ODDBALL PROJECTS THE RESULTS OF WHICH THEY POST ON THE NETWORK FOR NO OTHER REASON THAN TO ENTERTAIN THEIR EQUALLY BRAINY PEERS A FEW MONTHS AGO I RECEIVED VIA EMAIL AN EXHAUSTIVE STEPBYSTEP INSTRUCTION KIT CREATED BY A PROGRAMMER THAT SPELLED OUT HOW TO USE A HIGHPOWERED COMPUTER WORKSTATION AND LASER PRINTER TO FAX LUNCH ORDERS TO A NEARBY MEXICAN GROCERY THE MESSAGE TITLED ORDERING BURRITOS FROM MY SPARC BEGINS TIRED OF STANDING IN LINE AT LA COSTENA ANOTHER EMAILED GEM WAS FROM A PHYSICIST WHO HAD MATHEMATICALLY CALCULATED THE TEMPERATURE OF HEAVEN BASED ON DATA HE FOUND IN BIBLICAL TEXTS EQUALLY IMPRESSIVE WAS THE WORK OF THE SCHOLAR WHO HAD TRANSLATED TWO ENTIRE ROLLING STONES SONGS I CAN'T GET NO SATISFACTION AND SYMPATHY FOR THE DEVIL INTO LATIN SATISFACTIONEM OBTINERE NEQUEO AND CONSENSUS CUM DIABOLO RESPECTIVELY AND PUBLISHED THE RESULTS ONLINE PROJECTS SUCH AS THESE TAKE THE KIND OF DEDICATION TO BETTER LIVING THROUGH TECHNOLOGY THAT IS FOUND ONLY AMONG PEOPLE WHO SPEND FAR TOO MUCH TIME IN FRONT OF A COMPUTER UNFORTUNATELY MOST OF THESE FOLKS ARE PRETTY CRANKY ABOUT THE COMMERCIALIZATION OF CYBERSPACE AND A LOT OF THEM AREN'T PLANNING TO STICK AROUND LONG ENOUGH TO HASTEN THE IMPROVEMENTS THAT WILL MAKE ONLINE NETWORKS SO ACCESSIBLE TO THE MORTAL WORLD THAT MEANS FOR A WHILE AT LEAST THAT WE'RE PRETTY MUCH STUCK WITH WHAT WE HAVE AND DESPITE THE PROGRESS THAT HAS BEEN MADE TRYING TO TAKE ADVANTAGE OF TODAY'S INFORMATION SERVICES IS LIKELY TO BE AS DISAPPOINTING AS YOUR FIRST BRUSH WITH THAT LAST VICTIM OF TECHNOLOGY HYPEMULTIMEDIA SPEED IS RELATIVE WHAT'S FAST AND EASY FROM AN ONLINE VETERAN'S VIEWPOINT IS NOT NECESSARILY FAST AND EASY FOR THOSE WHO HAVE NEVER VENTURED INTO CYBERSPACE MOST PEOPLE ARE USED TO PRESSING A BUTTON ON A REMOTE CONTROL AND HAVING THE TV SET IMMEDIATELY LIGHT UP THINGS ONLINE ARE A BIT WELL SLOWER IN MY OFFICE WE GOT ALL EXCITED RECENTLY ABOUT THE ANNOUNCEMENT BY ONE ONLINE SERVICE THAT IT WAS GOING TO PROVIDE DIGITAL MOVIE TRAILERS THAT YOU COULD DOWNLOAD OR COPY FROM THEIR COMPUTER TO YOURS AND WATCH IN THE COMFORT OF YOUR HOME OR OFFICE WE BLAZED ONLINE AND DOWNLOADED THE TRAILER FOR IN THE LINE OF FIRE THE TRAILER TOOK PRECISELY 14 HOURS TO DOWNLOAD AS THE SYSTEM WAS KIND ENOUGH TO INFORM US IN ADVANCE TYING UP THE PHONE LINE FOR THE ENTIRE TIME THEN WE COULDN'T LOOK AT THE TRAILER BECAUSE OF SOME UNSPECIFIED FILE ERROR WE WASTED ANOTHER TWO OR THREE HOURS ON THE PROCESS EVERY TIME WITH THE SAME RESULT THAT'S ENTERTAINMENT WHAT IF NOBODY WANTS TO PLAY A NUMBER OF VERY SMART PEOPLE ARE TOUTING THE JOYS OF VIRTUAL COMMUNITIES PLACES WHERE PEOPLE ARE MORE FREE TO BE YOU AND ME WHERE THEY GET THEIR BODIES OUT OF THE WAY AND CAN COMMUNICATE MINDTOMIND THIS STATE THEY SAY IS ACHIEVED BY USING A COMPUTER AND MODEM TO LOG ON AND COMMUNICATE VIA ONLINE SERVICES BUT WHEN DOES SUCH A COMMUNITY TURN INTO THE REAR WINDOW OF THE INFORMATION AGE SINCE THE LATE '80S I HAVE BEEN THE DEN MOTHER OF A TECHNOLOGY FORUM ON A POPULAR ONLINE NETWORK THE FORUM'S ACTIVITY LEVEL THAT IS HOW MANY MESSAGES ARE POSTED BY MEMBERS FOR EVERYONE TO READ HAS EBBED AND FLOWED FOR A VARIETY OF REASONS BUT THERE'S ALWAYS A LARGE CONTINGENT OF LURKERS MEMBERS WHO ONLY READ AND DON'T POST MESSAGES THE CYBER EQUIVALENT OF BEING IN A ROOM FILLED WITH PEOPLE AND EAVESDROPPING ON THEIR INTIMATE CONVERSATIONS THERE'S NOTHING WRONG WITH VOYEURISM PER SE BUT IT BEGS THE QUESTION OF WHETHER YOU CAN HAVE A VIRTUAL COMMUNITY OR ANY OTHER KIND WHEN NO ONE KNOWS YOU'RE THERE IT ISN'T EASY WHILE PREPARING FOR A MEETING SOME MONTHS BACK I LOGGED ON TO A LARGE INFORMATIONRETRIEVAL SERVICE FOR SOME BACKGROUND IN THEORY THE SYSTEM HAS PRETTY MUCH EVERYTHING I NEEDED ITS DATABASE CONTAINS THE FULL TEXT AND STORIES OF ALMOST EVERY MAJOR METROPOLITAN DAILY AS WELL AS NEWS WIRES FROM ALL OVER THE WORLD BUT THE SYSTEM'S INTERFACE WHAT YOU LOOK AT ON YOUR SCREEN WHILE YOU'RE SEARCHING FOR INFORMATION ONLY MARGINALLY RESEMBLES ENGLISH AND FOLLOWS A LOGIC PATTERN THAT'S SOMETHING LESS THAN VULCAN AFTER SPENDING FAR TOO MUCH TIME TYPING PERIODS THEN SLASHES THEN PERIODS AND SLASHES AND STILL RETRIEVING NOT ONE ARTICLE I WAS LOOKING FOR I SURRENDERED TO CUSTOMER SERVICE IT ISN'T CHEAP FOR ALL MY FLOUNDERING ON THE INFORMATION SERVICE JUST MENTIONED I RECEIVED A BILL FOR 200 EVEN THOUGH IT DIDN'T YIELD A SINGLE ARTICLE UNTIL I CALLED FOR HELP BEWARE THE INFORMATION SERVICE THAT CHARGES BY THE HOUR ITS INTERFACE IS OFTEN SUSPICIOUSLY OPAQUE YOU CAN LOSE IT ALL THE TECHNOLOGY FORUM I LEAD HAS HAD SOME PRETTY FASCINATING POSTINGS OVER THE YEARS AND I'VE WANTED TO COLLECT THEM ALL IN ONE PLACE AS A FAVOR THE NETWORK COMPILED FIVE YEARS OF OLDER POSTINGS INTO A SINGLE TEXT FILE AND SENT IT TO MY ELECTRONIC MAILBOX THROUGH A SERIES OF MISCOMMUNICATIONS THE FILE TIMED OUT IN OTHER WORDS IT WAS AUTOMATICALLY DELETED AFTER A CERTAIN DATE DISAPPEARING FROM THE SYSTEM AS IF IT HAD NEVER EXISTED I HAD PLANNED TO COMPILE THE POSTINGS INTO A BOOK SOME DAY SO MUCH FOR THOSE PLANS PEOPLE CHANGE THEIR HABITS SLOWLY ONE WOMAN I KNOW USES HER ONLINE ACCOUNT ONLY FOR TEXTUAL SEXUAL ENCOUNTERS SHE IS CERTAINLY NOT AFRAID OF COMPUTERS SHE HAS THEM ALL OVER HER HOUSE BUT I SENT HER EMAIL MORE THAN A YEAR AGO AND SHE HAS NEVER EVEN CONSIDERED RETRIEVING IT NO SPECIAL REASON IT'S JUST THAT SHE NEVER READS HER EMAIL NOW HOW MANY PEOPLE DO YOU KNOW WHO WOULD LEAVE A LETTER SITTING IN THEIR MAILBOX OR MESSAGES ON THEIR ANSWERING MACHINE FOR A YEAR COMPUTERS AREN'T PERFECT IT IS EXTRAORDINARILY DIFFICULT TO MAKE LARGE COMPLEX INTERACTIVE SYSTEMS ESPECIALLY THOSE THAT OPERATE OVER PUBLIC NETWORKS WORK WITHOUT ERROR 24 HOURS A DAY IN PERPETUITY AND IT TAKES A LONG TIME TO TROUBLESHOOT THEM AS ONE HIGHTECHNOLOGY EXECUTIVE SAID AT A RECENT CONFERENCE SOFTWARE IS HARD IT TAKES MANY PERSONYEARS TO WRITE GOOD SOFTWARE THAT CAN OPERATE A COMPLEX SYSTEM AND MANY MORE TO MAKE IT WORK SUFFICIENTLY WELL THAT YOU CAN USE IT TO CONNECT MILLIONS OF USERS WHO DON'T KNOW HOW TO FIX IT WHEN IT BREAKS THE EXAMPLES OF WHAT HAPPENS WHEN THINGS GO WRONG ARE ENDLESS AND THEY RANGE FROM MINOR HASSLES TO SYSTEMWIDE CATASTROPHES A COUPLE OF WEEKS AGO I CONNED AN AUTHOR I KNOW INTO SENDING ME AN ELECTRONIC COPY OF AN ESPIONAGE STORY INVOLVING JELLYFISH THAT HE HAD WRITTEN WITH ANOTHER AUTHOR IT WAS A BIG FILE AND I STARTED DOWNLOADING IT ABOUT 5000 WORDS INTO IT RANDOM GIBBERISH STARTED CASCADING DOWN THE SCREEN AND DESPITE MY WILD EFFORTS TO ABORT THE PROCESS CONTINUED TO DO SO UNTIL I RACED AROUND TO THE BACK OF MY MODEM AND UNPLUGGED IT THOUGH I WAS PRETTY SURE THE PROBLEM HAD SOMETHING TO DO WITH COMPUTERS THE AUTHOR'S WIFE HAVING READ THE STORY BLAMED IT ON THE JELLYFISH IF YOU WANT AN HONEST REALITY CHECK ON THE PERILS OF TECHNOLOGY THERE'S A GREAT PLACE ON THE INTERNET CALLED THE FORUM ON RISKS TO THE PUBLIC IN COMPUTERS AND RELATED SYSTEMS WHICH IS SPONSORED BY AN INDUSTRY GROUP'S COMMITTEE ON COMPUTERS AND PUBLIC POLICY WORKING COMPUTER SCIENTISTS AND ENGINEERS USE THE FORUM TO DISCUSS WHAT HAS GONE WRONG OR MIGHT IN THE FUTURE FOR EXAMPLE A GERMAN PROFESSOR RECENTLY POSTED A MESSAGE ABOUT WHAT HAPPENED TO SOME HAMBURGBASED CUSTOMERS OF GERMANY'S NEW ISDN TELEPHONE SYSTEM ISDN WHICH STANDS FOR INTEGRATED SERVICES DIGITAL NETWORK ALLOWS THE TRANSMISSION OF ALL SORTS OF DIGITIZED COMMUNICATION VOICE TEXT VIDEO FAX DATA ETC AND IT IS BEING HAILED BY MANY AS A GIANT FIRST STEP TOWARD ACTIVATING THE INFORMATION SUPERHIGHWAY BUT ACCORDING TO THE PROFESSOR'S MESSAGE ABOUT 25 OF HAMBURG'S ISDN CUSTOMERS MOST OF WHICH ARE BUSINESSES WERE HIT BY A SOFTWARE BUG IN MIDSEPTEMBER AND WERE UNABLE TO USE THEIR TELEPHONE FAX AND DATA SERVICES FOR ALMOST 12 HOURS AND EVEN WHEN THE SYSTEM IS WORKING THE PROFESSOR WROTE IT IS PLAGUED WITH BROKEN CALLS FALSE CONNECTIONS DEVICES BEEPING FOR NO RATIONAL REASON ETC OBVIOUSLY WE'LL NEVER HAVE A GLITCHFREE WORLD BUT THE QUESTION IS WHETHER PEOPLE WILL OVERLOOK ALL OF THESE ONLINE PROBLEMS ANYTIME SOON AND START USING ONLINE SERVICES INSTEAD OF TODAY'S DOMINANT MODES OF COMMUNICATION IT ISN'T AN EASY QUESTION TO ANSWER BUT MY GUESS IS THAT IT'S SAFE TO SAY WE DON'T HAVE TO START PUTTING OUR TELEPHONES INTO THE CLOSET AS COLLECTORS' ITEMS JUST YET THE ONLINE STUFF IS NOWHERE NEAR READY FOR PRIME TIME CREATING A WORLD WHERE EVERYONE HAS A PLACE IN THE VIRTUAL COMMUNITY REQUIRES A DEEPLY SIGNIFICANT CHANGE IN THE SOCIAL AGENDA AND IS A DAUNTING TECHNICAL CHALLENGE AS WELL WE DON'T CARE TOO MUCH ABOUT IT NOW BECAUSE WE DON'T YET FULLY RELY ON THE STUFF BUT IF YOU THINK YOU GET TESTY WHEN THE NEWSPAPER DOESN'T SHOW UP ON TIME JUST WAIT UNTIL ALL YOUR INFORMATION COMES OVER THE WIRES AND THE NETWORK GOES DOWN LIKE AVENGING REPO MEN YOU WILL TAKE TO THE STREETS AND GOD HELP THE NETWORK PROVIDER THAT DONE YOU WRONG MS CARUSO IS EDITORIAL DIRECTOR OF FRIDAY HOLDINGS LP 9311150091 931115 TECHNOLOGY A SPECIAL REPORT A NEW WORLD BEAMING ABOARD BY SUMAN DUBEY BOMBAY IT'S SAFE TO SAY THAT COMMUTERS WON'T BE BEAMING THEMSELVES TO WORK AND BACK THROUGH STAR TREKSTYLE TRANSPORTER ROOMS ANYTIME SOON BUT FOR VEMURI SYAMALA NARASIMHAM THE NEXTBEST THING ALREADY EXISTS ON A RECENT WORKDAY AT THE TATA INSTITUTE OF FUNDAMENTAL RESEARCH HERE MR NARASIMHAM BEGINS THE MORNING BY PUNCHING A FEW KEYS ON HIS DESKTOP COMPUTER IN ABOUT 15 SECONDS HE'S LOGGED ON TO THE MAINFRAME AT THE FERMI NATIONAL ACCLERATOR LABORATORY HALFWAY AROUND THE WORLD IN BATAVIA ILL IT'S AS IF WE'RE NOW SITTING AT THE FERMILAB COMPUTER HE SAYS AS THE FNAL PROMPT APPEARS ON HIS SCREEN CHECKING FOR MESSAGES THE 56YEAROLD PHYSICIST FINDS A STACK OF OVERNIGHT ELECTRONIC MAIL INCLUDED ARE THE AGENDA OF A CONFERENCE TO WHICH HE'S BEEN INVITED AND A RESEARCH REPORT FROM A COLLEAGUE SPENDING SEVERAL MONTHS AT THE US RESEARCH FACILITY BUT THIS IS PERHAPS THE LEAST OF WHAT MR NARASIMHAM USUALLY DOES WITH THE HELP OF SUCH DATA NETWORKS AS BITNET AND TELNET AS HEAD OF A TATA INSTITUTE TEAM OF SIX PHYSICISTS HE'S ONE OF SOME 400 SCIENTISTS WORLDWIDE WHO ARE WORKING ON A 100 MILLION EXPERIMENT AT THE FERMI LABORATORY INVOLVING SUBATOMIC FORCES AND PARTICLES AND MOST OF THE SCIENTISTS' WORK IS BEING DONE OVER THE WIRES WITHOUT THE NETWORKS SAYS MR NARASIMHAM THERE'S NO QUESTION THAT THIS RESEARCH WOULDN'T HAVE BEEN POSSIBLE INDEED THE PROJECT REQUIRES AN ENORMOUS AMOUNT OF TEAMWORK AND NUMBER CRUNCHING AND THE NETWORKS ARE A LIFELINE FOR BOTH I HAVE COLLEAGUES AT FERMI WHO HAVE TO KNOW WHAT'S HAPPENED HERE AND I WANT TO KNOW WHAT'S GOING ON THERE SAYS MR NARASIMHAM MOREOVER IF THE INDIAN SCIENTISTS WANT TO ANALYZE THE DATA YIELDED BY THE EXPERIMENT THEY HAVE TO DO IT IN THE FERMI COMPUTERS OVER THE NETWORKS BECAUSE THERE IS FAR TOO MUCH DATA FOR THE TATA INSTITUTE'S OWN EQUIPMENT TO HANDLE MR NARASIMHAM ESTIMATES THAT BITNET AND TELNET GIVE HIM ACCESS TO COMPUTER POWER ABOUT ONE HUNDRED TIMES GREATER THAN THAT AVAILABLE IN HIS OWN LAB THE TATA INSTITUTE A RESEARCH AND POSTGRADUATE TEACHING FACILITY FUNDED LARGELY BY INDIA'S DEPARTMENT OF ATOMIC ENERGY WAS CONNECTED TO THE DATA NETWORKS IN 1988 MR NARASIMHAM SAYS ABOUT HALF OF THE 350 SCIENTISTS AND MOST OF THE 200 STUDENTS AT THE INSTITUTE NOW MAKE SIGNIFICANT USE OF THEM APART FROM EMAIL AND SCIENTIFIC PROJECTS THE INSTITUTE IS ALSO PARTICIPATING LONGDISTANCE IN AN EXPERIMENT WITH THE ATOMICRESEARCH CENTER CERN IN GENEVA THE NETWORKS HAVE HELPED THE TATA SCIENTISTS TO KEEP UP WITH WORK IN THEIR RESPECTIVE FIELDS MR NARASIMHAM FOR EXAMPLE WAS RECENTLY ABLE TO REVIEW SOME OF THE PRINCIPLE RESEARCH BEING PRESENTED IN FRANCE AT THE ANNUAL MEETING OF A EUROPEAN PHYSICS SOCIETY BEFORE THE ADVENT OF THE NETWORKS HE WOULD HAVE HAD TO READ ABOUT IT IN ACADEMIC JOURNALS SEVERAL MONTHS LATER MUCH OF MR NARASIMHAM'S EARLIER CAREER WAS SPENT RESEARCHING PROTON DECAY AND LOOKING FOR NEUTRINOS PARTICLES OF SUCH SMALL MASS THAT THEY CAN PASS RIGHT THROUGH THE EARTH BACK IN THE 1960S HE AND A GROUP OF FELLOW SCIENTISTS DID SUCCEED IN FINDING NEUTRINOS BUT THEY DIDN'T HAVE THE LUXURY OF DOING THEIR WORK FROM A COMFORTABLE OFFICE THEY HAD TO SET UP THE EXPERIMENT AT THE BOTTOM OF A MINESHAFT IN SOUTHERN INDIA NEARLY A MILE AND A HALF BELOW THE EARTH'S SURFACE MR NARASIMHAM RECALLS HIS FIRST TRIP DOWN TO THE SITE WHICH ENTAILED A SCARY ELEVATOR DESCENT OF SEVERAL MINUTES TO A RATHER ISOLATED MAKESHIFT LAB UNFORTUNATELY HE SAYS WE DIDN'T HAVE MODERN COMMUNICATIONS MR DUBEY IS A STAFF REPORTER IN THE WALL STREET JOURNAL'S NEW DELHI BUREAU 9311150090 931115 INTERNATIONAL WASHINGTON INSIGHT RUSSIA SHOULD TURN TO LATIN AMERICA FOR ADVICE AS CAPITAL FLIGHT WORSENS BY TIM CARRINGTON STAFF REPORTER OF THE WALL STREET JOURNAL WASHINGTON THE CLINTON ADMINISTRATION HAS LED THE INDUSTRIAL WORLD IN PULLING TOGETHER BILLIONS OF DOLLARS IN GRANTS CREDITS AND SPECIAL FUNDS TO BOLSTER THE RAVAGED RUSSIAN ECONOMY BUT THERE'S A MOVEMENT OF MONEY JUST AS IMPRESSIVE AS THE AID FLOW THE FLOW OF RUSSIAN CASH OUT OF THE COUNTRY AND INTO HAVENS ELSEWHERE IT'S NO MEAN SUM WILFRIED THALWITZ THE WORLD BANK VICE PRESIDENT FOR THE REGION ESTIMATES THAT 10 BILLION TO 15 BILLION LEFT RUSSIA IN 1992 AN AMOUNT EQUAL TO ABOUT 15 OF THE COUNTRY'S GROSS DOMESTIC PRODUCT OF COURSE NO ONE CAN PRECISELY MEASURE THIS VANISHING CAPITAL THE OPENLY REPORTED SEGMENT OF THE OUTFLOW DEPOSITS HELD ABROAD BY COMMERCIAL BANKS ALONE CAME TO 65 BILLION LAST YEAR THE BULK OF MONEY LEAVING THE COUNTRY DOESN'T SHOW UP IN THESE FIGURES OVERALL MR THALWITZ SAYS THERE'S LITTLE DOUBT THAT THE CAPITAL OUTFLOW FAR EXCEEDS ACTUAL CASH DISBURSEMENTS THAT GOVERNMENTS AND MULTILATERAL AGENCIES SUCH AS THE WORLD BANK HAVE MADE TO RUSSIA THE CAPITAL FLIGHT POSES TWO PROBLEMS FIRST IT PUTS DONORS IN AN EMBARRASSING POSITION COMPARABLE TO THAT OF INVESTORS BUYING INTO A COMPANY WHOSE MANAGERS AND DIRECTORS ARE SELLING SHARES HAND OVER FIST BUT MORE IMPORTANTLY RUSSIA DESPERATELY NEEDS THE CAPITAL THAT'S FLEEING THE MONEY ISN'T BEING BROUGHT BACK AND INVESTED TO CREATE THE CLIMATE OF CONFIDENCE WHERE THE REFORMS CAN TAKE OFF SAYS ROY ALLISON HEAD OF RUSSIA STUDIES AT THE ROYAL INSTITUTE FOR INTERNATIONAL AFFAIRS IN LONDON THE INVESTMENT FOR PRIVATIZATION AND INFRASTRUCTURE HAS TO COME FROM WITHIN AND IT'S OUTSIDE NOW THE ECONOMIC SEEPAGE INVOLVES GOODS AS WELL AS CASH THERE ARE TALES OF MASSIVE AMOUNTS OF METALS BEING SMUGGLED INTO THE BALTIC STATES WHERE THEY ARE SOLD THE PROBLEM AFFLICTS OTHER FORMER SOVIET REPUBLICS AS WELL AS UKRAINE TEETERS TOWARD FINANCIAL COLLAPSE MORE AND MORE CAPITAL FLOWS OUT DRAINING THE ECONOMY FURTHER CAPITAL FLIGHT HAS LONG BEEN A SYMPTOM OF A DYSFUNCTIONAL ECONOMY OTHER ECONOMIES THAT RECENTLY EMERGED FROM THE INTENSIVECARE WARDS CAN TELL RUSSIA SOMETHING ABOUT HOW TO REVERSE THE PATTERN IN THE LATE 1970S MEXICO WAS HIT BY CAPITAL FLIGHT OF ABOUT THE SAME DIMENSIONS THAT RUSSIA IS SUFFERING NOW JACQUES ROGOZINSKI CHIEF EXECUTIVE OF THE PUBLIC WORKS BANK OF MEXICO AND ARCHITECT OF MEXICO'S MASSIVE PRIVATIZATION PROGRAM POINTS TO ONE HARDANDFAST RULE IN TREATING CAPITAL FLIGHT CREATE A STABLE MONETARY ENVIRONMENT POSITIVE REAL INTEREST RATES AND A SENSIBLE SYSTEM OF TAXES AND TRADE REGULATIONS AND THE MONEY WILL RETURN AFTER TAMING INFLATION NEGOTIATING DEBT RELIEF AND CUTTING BACK GOVERNMENT SPENDING MEXICO LOOKED TO MR ROGOZINSKI TO BEGIN PRIVATIZING THE BULK OF THE 1200 LARGE COMPANIES THE STATE HAD SWALLOWED UP I WAS ATTACKED FROM THE RIGHT FOR GOING TOO SLOW AND THE LEFT FROM GOING TOO FAST HE SAYS BUT HE NONETHELESS MANAGED TO SELL ABOUT 950 STATE ENTERPRISES BRINGING IN ABOUT 23 BILLION WHICH IN TURN HELPED LOWER MEXICO'S DEBT THE RETURN OF MEXICO'S FLIGHT CAPITAL WAS CRITICAL TO THE PRIVATIZATION CAMPAIGN JUST AS IT WILL BE TO A PRIVATIZATION CAMPAIGN IN RUSSIA ARGENTINA CHILE AND COLOMBIA HAVE ALL SEEN CAPITAL FLOW BACK AFTER THEY EMBRACED CONVINCING REFORMS BUT CAN RUSSIA WIN BACK ITS CITIZENS' MONEY CONSTANTINE MICHALOPOULOS A SENIOR WORLD BANK ADVISER FOR THE POSTCOMMUNIST ECONOMIES INSISTS IT CAN ONCE YOU STABILIZE THE ECONOMY ONCE INTEREST RATES ARE POSITIVE THE HOPE IS THAT ALL THIS MONEY WILL COME BACK HE SAYS LAST JUNE AND JULY THE RUBLE ENTERED A PERIOD OF RELATIVE STABILITY AND A SERIES OF NEEDED REFORMS APPEARED TO BE MOVING AHEAD AS A CONSEQUENCE ABOUT 2 BILLION FLOWED BACK INTO RUSSIA IN THE MAYHEM THAT FOLLOWED MUCH OF THAT MONEY FLED BUT THE SUMMER'S EXPERIENCE SHOULD PERSUADE MOSCOW'S MANAGERS THAT UNDER THE RIGHT POLICIES MONEY CAN BE COAXED BACK ONE IMMEDIATE CHANGE MOSCOW SHOULD MAKE IS TO SHED A SLEW OF PERVERSELY CONCEIVED EXPORT RESTRAINTS SOME EXPORTS STILL REQUIRE LICENSES AND MANY EXPORTS ARE TAXED POLICIES HELD OVER FROM THE DAYS OF STALINIST DISTRUST OF INTERNATIONAL COMMERCE TODAY SUCH RESTRAINTS JUST ENCOURAGE MANAGERS TO SMUGGLE GOODS INTO THE BALTICS OR TO HIDE THEIR PROFITS OVERSEAS MEANWHILE THE REST OF THE WORLD SHOULD TEAR DOWN TRADE BARRIERS THAT LIMIT PURCHASES OF FOODSTUFF STEEL AND CHEMICALS FROM THE POSTCOMMUNIST ECONOMIES SAYS MR MICHALOPOULOS THERE ARE MANY INSTANCES WHERE THE US THE EUROPEAN COMMUNITY AND JAPAN HAVE FOUND IT EASIER POLITICALLY TO PROVIDE ASSISTANCE THAN TO OPEN UP THEIR TRADE POLICIES THAT'S A SAD SITUATION 9311150089 931115 INDUSTRY FOCUS JAPAN'S CAR MAKERS SEEK SOLUTIONS FROM US BIG THREE DETROIT'S WAYS OF COPING WITH DOWNTURNS ARE SEEN AS PATH TO ESCAPE SLUMP BY ROBERT L SIMISON AND MICHAEL WILLIAMS STAFF REPORTERS OF THE WALL STREET JOURNAL TOKYO JAPAN'S AUTO MAKERS STUCK IN THEIR WORST SLUMP IN 40 YEARS ARE TURNING TO SOLUTIONS PIONEERED BY COMPANIES THAT KNOW ALL ABOUT DEALING WITH DOWNTURNS DETROIT'S BIG THREE JUST AS DETROIT STARTED DOING A DECADE AGO JAPANESE AUTO MAKERS ARE TRYING TO ROOT OUT WASTE IN THEIR CORPORATE OFFICES AND IN A LAND WHERE VAGUE RESPONSIBILITIES AND SENIORITY PAY ARE THE NORM THE CAR COMPANIES ARE MOVING TO ADOPT US MANAGEMENT CONCEPTS LIKE SPECIFIC JOB DESCRIPTIONS AND PAY FOR PERFORMANCE THEY'RE SHAKING UP COZY TIES TO SUPPLIERS AND SOME ARE IMPORTING TO JAPAN CHEAP CARS THEY BUILD OVERSEAS THEY ARE EVEN LOOKING AT SOME NEW DETROIT PRODUCTS FOR CLUES ON DESIGN EFFICIENCY THERE'S MORE NISSAN MOTOR CO AND MAZDA MOTOR CORP ARE ASKING THEIR UNIONS TO FORGO PART OF THE CUSTOMARY YEAREND BONUS WHICH COULD AMOUNT TO A PAY CUT OF AS MUCH AS 80000 YEN 752 FOR NISSAN WORKERS TOYOTA MOTOR CORP WITHDREW A SIMILAR REQUEST BUT INSTEAD SAID IT WOULD CUT MANAGERS' BONUSES 5 IN DETROIT THOSE ARE CALLED GIVEBACKS MEANWHILE THE WHOLE INDUSTRY IS USING OTHER TERMS THAT ARE ALL TOO FAMILIAR IN THE MOTOR CITY SUCH AS DOWNSIZING COST CUTTING AND TEMPORARY PLANT CLOSINGS THERE WAS A PERIOD WHEN THE US LEARNED FROM JAPAN SAYS TERAKAZU INOUE A TOYOTA MANAGING DIRECTOR WHO IS RESPONSIBLE FOR PRODUCT PLANNING AND RESEARCH BUT NOW WE ARE ENTERING A NEW AGE WHEN THE CAR COMPANIES IN BOTH COUNTRIES CAN LEARN FROM EACH OTHER THE SIGHT OF JAPANESE AUTO MAKERS WHICH SURGED TO GLOBAL DOMINANCE IN THE 1980S TAKING SOME DETROITSTYLE MEDICINE REPRESENTS AN IRONIC REVERSAL OF ROLES THE BIG THREE SPENT THE BETTER PART OF THE LAST DECADE OR SO TRYING TO LEARN FROM JAPAN STATISTICAL QUALITY CONTROL JUSTINTIME INVENTORY MANAGEMENT LEAN PRODUCTION WHAT HAS HAPPENED IS THAT WHILE DETROIT STILL HASN'T MASTERED THOSE TECHNIQUES IT HAS COME CLOSE ENOUGH THAT THE JAPANESE CAN'T OVERCOME THE CRUSHING HANDICAP OF A SUPERSTRONG YEN BY MOST CALCULATIONS THE APPRECIATION OF THE YEN IN RECENT YEARS HAS TURNED A JAPANESE PRICE ADVANTAGE OF ABOUT 1000 A CAR IN 1985 INTO A DISADVANTAGE OF AROUND 2000 TODAY THAT TOGETHER WITH THE EFFECTS OF RECESSION IN JAPAN EUROPE AND EARLIER NORTH AMERICA IS WHY JAPANESE CAR AND TRUCK PRODUCTION THIS YEAR IS EXPECTED TO FALL 8 TO JUST 115 MILLION VEHICLES THAT'S ONE MILLION UNITS FEWER THAN LAST YEAR AND NEARLY TWO MILLION OFF THE 1990 PEAK IT MEANS THAT AFTER TAKING THE LEAD IN 1990 AND 1991 JAPAN WILL TRAIL NORTH AMERICA IN VEHICLE PRODUCTION THIS YEAR FOR THE SECOND YEAR RUNNING THE JAPANESE INDUSTRY IS NOW USING JUST 80 OF ITS PRODUCTIVE CAPACITY ESTIMATES YOSHIFUMI TSUJI THE PRESIDENT OF NISSAN THAT IS ONE REASON WHY MOST OF THE AUTO MAKERS ARE LOOKING AT RED INK CAPACITY USAGE COULD FALL TO A WASTEFUL 75 BY 2000 UNLESS AUTO MAKERS CLOSE MORE FACTORIES THAN THEY NOW PLAN TO ESTIMATES KOJI ENDO AN AUTO ANALYST AT LEHMAN BROTHERS INC IN TOKYO WE ARE AT A TURNING POINT ACKNOWLEDGES NOBUHIKO KAWAMOTO HONDA'S PRESIDENT HOW WE ADAPT IS A CRUCIAL ISSUE ONE DETROIT SOLUTION THAT THE JAPANESE AREN'T YET READY TO APPLY IS WHOLESALE PLANT CLOSINGS AND MASS LAYOFFS SO FAR ONLY NISSAN HAS ANNOUNCED A FACTORY CLOSING THAT QUEASINESS COULD POSE A PROBLEM MR ENDO FIGURES THAT TO REGAIN THEIR PEAK 1989 PROFITABILITY LEVELS BY 2000 THE FIVE BIGGEST JAPANESE AUTO MAKERS WOULD HAVE TO SHED 20000 WORKERS AND CUT HOURS WORKED PER EMPLOYEE BY 10 BUT HONDA'S MR KAWAMOTO SAYS SUCH LAYOFFS ARE OUT OF THE QUESTION JOB SECURITY IS ONE OF THE BASIC STRUCTURES OF JAPANESE INDUSTRY SO WHILE HONDA PLANS TO CUT ITS PRODUCTIVE CAPACITY IN JAPAN BY 20 OVER THE NEXT THREE YEARS REDUCING EMPLOYMENT BY 3000 WORKERS IT DOESN'T PLAN ANY LAYOFFS ONLY LESS HIRING HONDA HAS DROPPED THE SECOND SHIFT ON TWO OF ITS FIVE ASSEMBLY LINES AND PLANS TO CLOSE THE SECOND SHIFT ON A THIRD LINE NEXT APRIL THE WORKERS ARE BEING TRANSFERRED TO OTHER JOBS EXECUTIVES ARGUE THAT SUCH MOVES WILL DO THE TRICK AND IN FACT MAZDA NISSAN AND HONDA HAVE PROJECTED WORKFORCE REDUCTIONS THAT ADD UP TO 11000 POSITIONS OR MORE THAN HALF OF MR ENDO'S PRESCRIPTION MEANWHILE JAPANESE AUTO EXECUTIVES SEEM TO BE BORROWING LIBERALLY FROM OTHER PARTS OF DETROIT'S RECESSION PLAYBOOK ALTHOUGH THEY MAKE A POINT OF DENYING THAT THEY ARE EXPLICITLY IMITATING THE AMERICANS MAZDA PLANS TO SHUT DOWN VIRTUALLY THE ENTIRE COMPANY FOR TWO DAYS TO CUT PRODUCTION FORCING 25000 WORKERS TO TAKE THE TIME OFF IT WILL BE MAZDA'S FIRST SHUTDOWN IN TWO DECADES AIMED AT KEEPING INVENTORIES IN LINE WHAT'S MORE MAZDA AND NISSAN WHICH PLANS A SMALLER SHUTDOWN THIS MONTH AFFECTING ABOUT 2000 EMPLOYEES WILL APPLY FOR GOVERNMENT SUBSIDIES TO HELP PAY THE WAGES OF THEIR FURLOUGHED WORKERS THE FIRST TIME THE JAPANESE AUTO COMPANIES HAVE EVER SOUGHT SUCH GOVERNMENT HANDOUTS THE JAPANESE ALSO ARE TRYING TO GET MORE OUT OF THEIR WHITECOLLAR WORKERS IN RECENT YEARS HONDA TOYOTA AND NISSAN HAVE ADOPTED MERIT PAY NISSAN RECENTLY SAID IT WILL SCRAP SENIORITY PAY NOW 25 OF COMPENSATION FOR 2900 MANAGERS AT TOYOTA TAKEHARU INUZUKA IS RUNNING SCARED AS A PARTICIPANT IN THE COMPANY'S BUSINESS REVOLUTION THE 33YEAROLD PUBLICAFFAIRS OFFICER HAS BEEN SHIFTED ALONG WITH SOME 800 OTHER WHITECOLLAR EMPLOYEES TO NEW DEPARTMENTS THAT WERE OSTENSIBLY SET UP TO LOOK FOR CORPORATE EFFICIENCIES THE BIGGER MESSAGE HOWEVER IS THAT WE'VE BECOME A TARGET OF STREAMLINING SAYS MR INUZUKA IN HIS SEARCH FOR WASTE HE HAS FOUND THAT TOYOTA HAS TWO SEPARATE OFFICES THAT MONITOR AUTO INSURANCE ISSUES AND TWO FOR AUTO TAXES COMPANIES ARE TURNING THE SCREWS ON THEIR ENGINEERS AS WELL MAINLY BY INSTILLING SOME AMERICANSTYLE TOPDOWN DISCIPLINE LAST YEAR TOYOTA REORGANIZED ITS MUCHADMIRED METHOD OF DEVELOPING CARS UNDER HEAD ENGINEERS WHO HAD CONTROL OVER EACH MODEL THAT SYSTEM GREW TOO UNWIELDY SAYS TOYOTA EXECUTIVE VICE PRESIDENT YOSHIRO KIMBARA AS THE NUMBER OF HEAD ENGINEERS REACHED SOME THREE DOZEN UNDER THE NEW SYSTEM THERE ARE THREE DIRECTORS RESPONSIBLE FOR BROAD CATEGORIES OF VEHICLES THE TEAMS WORKING ON SIMILAR CARS HAVE BEEN BROUGHT UNDER THE SAME ROOF ALLOWING QUICK FACETOFACE PROBLEMSOLVING MR KIMBARA ESTIMATES THAT THIS HAS CUT THE AMOUNT OF TIME SPENT COORDINATING BY A THIRD NONETHELESS TOYOTA'S MANAGING DIRECTOR FOR PLANNING AND RESEARCH MR INOUE WORRIES THAT THE JAPANESE HAVE LEARNED ONE MORE NOTSOUSEFUL HABIT OF DETROIT THE NOTINVENTEDHERE SYNDROME HE OBSERVES THAT IN TERMS OF LEARNING TO BE LESS RIGID AND TO ADOPT METHODS DEVELOPED ELSEWHERE AMERICAN AUTO MAKERS ARE MUCH MORE ADVANCED THAN WE ARE 9311150088 931115 HEARD ON THE STREET GATEWAY 2000 IPO WILL MAKE FOUNDERS RICH BUT ANALYSTS SAY THEY ARE GETTING TOO MUCH BY KYLE POPE STAFF REPORTER OF THE WALL STREET JOURNAL LOOKING TO BUY A PERSONAL COMPUTER GATEWAY 2000 MIGHT BE WORTH A CALL LOOKING FOR A STOCK TO BUY SHOP ELSEWHERE SOME ANALYSTS SUGGEST EIGHT YEARS AFTER TED AND NORMAN WAITT STARTED THE MAILORDER PERSONAL COMPUTER MARKETER IN A BARN IN NORTH SIOUX CITY SD THE BROTHERS ARE ABOUT TO CASH IN BIGTIME THROUGH GATEWAY'S INITIAL PUBLIC OFFERING LATER THIS MONTH NOBODY DOUBTS THAT THE WAITTS HAVE EARNED THEIR KEEP GATEWAY HAS MORE THAN HELD ITS OWN THROUGH A GRUELING PC PRICE WAR YET THE IPO IS RAISING EYEBROWS EVEN AMONG PEOPLE LONG USED TO SEEING COMPANY FOUNDERS GET RICH FROM INITIAL OFFERINGS THAT'S BECAUSE THIS TIME THE REWARDS WILL BE RICHER THAN USUAL THE WAITT BROTHERS WILL REAP MORE THAN HALF THE EXPECTED PROCEEDS FROM THE 109 MILLIONSHARE OFFERING THE PROSPECTUS SHOWS BUT THEY WILL GIVE UP ONLY 15 OF THE COMPANY THERE ARE PEOPLE OUT THERE WHO REALLY FIND THIS KIND OF THING DISTASTEFUL AND LOATHSOME SAYS CHARLES RONSON PUBLISHER OF IPO VALUE MONITOR A NEW YORK NEWSLETTER INVESTORS ARE INCLINED TO MAKE SNIDE COMMENTS NOTICE HE DOESN'T SAY THAT INVESTORS ARE REFUSING TO BUY IN TODAY'S MARKET IT'S DANGEROUS TO PREDICT THAT ANY IPO WILL BE LESS THAN A SUCCESS PARTICULARLY GATEWAY'S WHOSE OFFERING WILL BE LED BY GOLDMAN SACHS AND PAINEWEBBER TED WAITT A PONYTAILED CHAINSMOKER WHO LISTENS TO ROCK MUSIC IN HIS OFFICE AND NORMAN WAITT LISTED AS A 270000AYEAR CONSULTANT HAVE MADE GATEWAY A BUDDING BEHEMOTH OPERATING FROM A CORRUGATEDMETAL BUILDING ON A PASTURE NEAR THE IOWA BORDER THE COMPANY RECORDED A 41 INCREASE IN NET INCOME TO 686 MILLION AND A 57 JUMP IN SALES TO 118 BILLION DURING THE FIRST NINE MONTHS OF THE YEAR THE WAITTS' GATEWAY POSTIPO HOLDINGS WOULD BE WORTH A COMBINED 8244 MILLION IF UNDERWRITERS GET THE 14 A SHARE ENVISIONED 75 MILLION OUT OF THE 143 MILLION IN EXPECTED PROCEEDS WILL GO TO THEM THE MONEY REPRESENTS UNDISTRIBUTED EARNINGS FROM GATEWAY'S SCORPORATION DAYS WHEN THE WAITTS PAID ALL TAXES ON EARNINGS ALTHOUGH THE WAITTS ARE DUE THE MONEY ANALYSTS SAY COLLECTING SO MUCH UP FRONT COULD LEAVE INVESTORS WITH THE IMPRESSION THEY ARE CASHING OUT WHILE LEAVING THE COMPANY WITH ONLY 679 MILLION TO FINANCE FUTURE GROWTH THAT'S HARDLY A WORLDCLASS WAR CHEST FOR A COMPANY LAUNCHING A EUROPEAN EXPANSION AND BATTLING A RESURGENCE OF BRANDNAME MARKETERS IN THE US MORE PALATABLE OBSERVERS SAY WOULD BE FOR THE WAITTS TO TAKE STOCK INSTEAD OF CASH THUS GIVING THEM AN EVEN BIGGER STAKE IN GATEWAY'S FUTURE THIS COULD BECOME A MARKETING ISSUE AT THE ROAD SHOW WHERE THE IPO IS PITCHED TO INVESTORS SAYS JAMES POYNER AN OPPENHEIMER ANALYST THE SAME IS TRUE FOR GATEWAY'S INSIDER DEALINGS THE COMPANY AGREED IN 1992 TO MAKE ADVANCE ROYALTY PAYMENTS TOTALING 15 MILLION TO ANIGMA INC WHICH DESIGNS COMPUTER MOTHERBOARDS THE WAITTS ALONG WITH GATEWAY DIRECTOR RICHARD D SNYDER OWN 75 OF ANIGMA'S VOTING STOCK ALTHOUGH THE PROSPECTUS SAYS GATEWAY HAS MOVED TO REDUCE THE ADVANCE BUSINESS WITH ANIGMA CONTINUES ALSO GATEWAY REPORTED 7 MILLION IN SALES IN THE FIRST NINE MONTHS TO GATEWAY SERVICE CORP OWNED ENTIRELY BY THE WAITT BROTHERS THAT COMPANY SOLD 5 MILLION OF INVENTORY BACK TO GATEWAY IN THE SAME PERIOD APPARENTLY AFTER REFURBISHING THE MERCHANDISE GATEWAY SAID IN DOCUMENTS THAT ALL BUSINESS WITH GATEWAY SERVICE STOPPED LAST MONTH THE TRANSACTIONS DON'T REPRESENT BIG DOLLARS FOR A COMPANY OF GATEWAY'S SIZE YET MR RONSON THE NEWSLETTER PUBLISHER THINKS THEY WILL PIQUE INVESTORS' CURIOSITY A GATEWAY SPOKESWOMAN SAYS NEITHER THE COMPANY NOR THE WAITTS CAN COMMENT AS THE COMPANY IS IN REGISTRATION FOR THE IPO GATEWAY HAS MANY THINGS IN ITS FAVOR INCLUDING A BALANCE SHEET THAT ANALYSTS SAY IS STELLAR NET MARGINS A NIGHTMARE FOR SOME PC COMPANIES RAVISHED BY THE PRICE WARS TOTALED 59 IN THE MOST RECENT QUARTER PUTTING GATEWAY ON A PAR WITH COMPAQ COMPUTER THE INDUSTRY'S CURRENT FINANCIAL DARLING AND WELL AHEAD OF APPLE COMPUTER 01 NET MARGIN AND AST RESEARCH 16 THE EARNINGS ARE PHENOMENAL COMPARED TO THE REST OF THE PC INDUSTRY SAYS JOHN TUSCHNER ANALYST AT PROTECTIVE GROUP SECURITIES IN MINNEAPOLIS PERSONALCOMPUTER STOCKS HAVE SHOWN VIGOR LATELY COMPAQ ZOOMED UP 17 LAST MONTH AND APPLE ROSE 35 ALTHOUGH SHARES OF APPLE DELL COMPUTER AND AST MOST LIKELY WILL STILL END THE YEAR LOWER THAN A YEAR AGO ANALYSTS SAY THE MARKET IS MUCH MORE FAVORABLE TO COMPUTER STOCKS THAN IN SPRING 1992 WHEN THE LAST MAJOR PERSONAL COMPUTER IPO PACKARDBELL ELECTRONICS WAS WITHDRAWN THIS IS PROBABLY THE BEST POSSIBLE TIME FOR THESE GUYS TO TRY TO COME OUT SAYS KEVIN MCCARTHY A TECHNOLOGY ANALYST AT MABON SECURITIES THE ENVIRONMENT IS VERY ROBUST 9311150087 931115 INTERNATIONAL WORLD WIRE COMPILED BY RICHARD L HOLMAN AFTER ALMOST A DECADE OF DROUGHT IN GREECE WATER FOR ATHENS HAS DWINDLED TO ABOUT A ONEMONTH SUPPLY USING EMERGENCY RESERVES WATER NEEDS CAN BE MET THROUGH YEAR END FOR THE FOUR MILLION PEOPLE WHO LIVE IN AND AROUND THE CAPITAL THE DROUGHT HAS INTENSIFIED THIS YEAR WITH ZERO RAINFALL RECORDED LAST MONTH WAS THE DRIEST OCTOBER IN 50 YEARS AND THIS AUTUMN HAS BEEN UNSEASONABLY WARM TO DISCOURAGE WASTE WATER BILLS HAVE BEEN INCREASED 400 IN THE PAST TWO YEARS WATERING GARDENS WASHING CARS AND FILLING SWIMMING POOLS ARE BANNED AND ANYONE EXCEEDING USAGE LIMITS CAN BE FINED ATHENIANS HAVE CUT WATER CONSUMPTION 30 IN THE PAST YEAR BUT RATIONING COULD BE IMPOSED SOON IF IT DOESN'T RAIN THE GOVERNMENT IS CONSIDERING SHORTTERM SOLUTIONS SUCH AS SHIPPING WATER IN BY TANKER BUT SUCH ACTIONS WOULD TAKE MONTHS UKRAINE'S PARLIAMENT REJECTED PRESIDENT LEONID KRAVCHUK'S PLAN TO COVER THE BUDGET DEFICIT BY SELLING 10 BILLION OF FIVEYEAR BONDS TO FOREIGN INVESTORS LAWMAKERS ACCUSED THE PRESIDENT OF SELLING OUT THE COUNTRY BY ORDERING THE SALE OF DOLLARDENOMINATED BONDS GUARANTEED BY GOVERNMENT ASSETS AND SAID IT WOULD BE IMPOSSIBLE TO PAY THE 700 MILLION IN ANNUAL INTEREST PARLIAMENT ALSO DELAYED MR KRAVCHUK'S EMERGENCY ANTIINFLATION PLAN FOR A MONTHLONG REVIEW POLITICAL CONFLICT HAS ALL BUT STALLED REFORMS IN UKRAINE AS OUTPUT HAS PLUNGED INFLATION HAS SOARED AND THE CURRENCY HAS COLLAPSED STATE BANKS LENT CHINESE ENTERPRISES 1213 BILLION LAST MONTH A 62 INCREASE FROM A YEAR EARLIER THE CENTRAL BANK SAID THE LOANS WOULD HELP RELIEVE THE CREDIT SQUEEZE IMPOSED ON MANY STATE ENTERPRISES IN JULY CHINA TIGHTENED CREDIT TO DETER HIGHRISK LENDING FOR SPECULATIVE VENTURES SUCH AS REAL ESTATE EASY CREDIT WAS FUELING INFLATION UNDER THE AUSTERITY PLAN LOANS WERE TO BE DIVERTED TO STATE PROJECTS SUCH AS RAILWAYS ENERGY AND TELECOMMUNICATIONS LAST MONTH CHINA DECLARED SUCCESS IN CONTROLLING THE MONEY SUPPLY AND SO EASED BANKS' FUND SHORTAGE KAZAKHSTAN IS SCHEDULED TO INTRODUCE TODAY ITS OWN CURRENCY THE TENGE REPLACING THE RUSSIAN RUBLE THE FORMER SOVIET REPUBLIC ALLOWS SWAPS OF AS MUCH AS 100000 RUBLES AT A RATE OF 500 RUBLES PER TENGE KAZAKHSTAN ABANDONED THE RUBLE AFTER COMPLAINING THAT RUSSIA'S TERMS FOR SUPPLYING THE CURRENCY WERE UNREALISTICALLY TOUGH RUBLES HAD LOST VALUE IN KAZAKHSTAN AND TRADED AT 9000 TO THE US DOLLAR LAST WEEK IN RUSSIA THE RUBLE LAST TRADED AT 1180 TO THE DOLLAR UNDER A PACT WITH KAZAKHSTAN NEIGHBORING UZBEKISTAN WAS EXPECTED TO INTRODUCE SIMULTANEOUSLY ITS SOM COUPON BUT RETAIN USE OF THE RUBLE A PROVINCIAL COURT IN NORTHEASTERN THAILAND SCHEDULED A DEC 28 TRIAL AFTER 13 PEOPLE PLEADED NOT GUILTY TO CRIMINALNEGLIGENCE CHARGES IN THE AUG 13 COLLAPSE OF THE ROYAL PLAZA HOTEL THAT KILLED AT LEAST 137 PEOPLE AND INJURED MORE THAN 200 THE DEFENDANTS HOTEL EXECUTIVES LOCAL GOVERNMENT OFFICIALS THE BUILDING'S ARCHITECT AND AN ENGINEER FACE 5 TO 10 YEARS IN JAIL IF CONVICTED IN THE KORAT COURT AUTHORITIES HAVE LINKED THE COLLAPSE TO THE ADDITION OF THREE FLOORS ATOP THE THREESTORY HOTEL THE EUROPEAN COMMUNITY CALLED ON THE 12 MEMBER STATES' CENTRAL BANKS TO INTRODUCE SOCALLED REALTIME SETTLEMENTS FOR DOMESTIC INTERBANK SYSTEMS TO INCREASE EFFICIENCY AND REDUCE RISKS INTERBANK PAYMENTS WOULD BE MADE AS QUICKLY AS POSSIBLE RATHER THAN AT THE END OF A SETTLEMENT PERIOD ACHIEVING THIS AND INTRODUCING OTHER COMMON FEATURES IN LINE WITH THE EC'S SINGLE MARKET WERE TOUTED AS THE BIGGEST TECHNOLOGICAL ADVANCE IN BANKING PAYMENTS SYSTEMS SINCE THE 19TH CENTURY BERLIN'S OLDEST SUBWAY ROUTE SEVERED 32 YEARS AGO WITH THE DIVISION OF COMMUNIST EAST AND CAPITALIST WEST WAS RECONNECTED AFTER THREE YEARS AND 128 MILLION OF REPAIRS ON THE 26MILE SECTION BENEATH THE AREA WHERE THE BERLIN WALL ONCE STOOD THE CENTRAL U2 SUBWAY LINE WAS BUILT IN 1902 AND TRUNCATED IN 1961 BY THE WALL BUILT BY EAST GERMANY CONNECTING THE OLYMPIC STADIUM IN WESTERN BERLIN AND THE NORTHEASTERN SECTION OF PANKOW ON A 47MINUTE TRIP THE 12MILE U2 ROUTE RUNS PAST HITLER'S BUNKER IN CENTRAL BERLIN THE LINE AND STATIONS WERE DAMAGED BADLY IN WORLD WAR II AND HASTILY REBUILT AFTER THE WAR DIVISION OF THE U2 LEFT 11 STATIONS IN THE WEST AND 12 IN THE EAST AND FOUR NEAR THE WALL WERE ABANDONED AFTER THE WALL FELL IN 1989 AND GERMANY WAS REUNITED A YEAR LATER THE CITY SET OUT TO RECONNECT THE ROUTE TO LINK CENTRAL SHOPPING CENTERS MINERS IN THE URAL MOUNTAINS DISCOVERED A 25POUND 5805CARAT EMERALD WHICH THE RUSSIAN BUSINESS DAILY COMMERSANT SAID WAS APPRAISED AT 15 MILLION THE STONE WAS NAMED THE PRESIDENT AFTER THE COUNTRY'S LEADER BORIS YELTSIN A URALS NATIVE IN MOSCOW MANHOLE COVERS ARE MADE OF A METAL THAT CONTRACTS AND EXPANDS EASILY AS TEMPERATURES FLUCTUATE A SHARP COLD SNAP HAS CAUSED THE COVERS TO JUMP OUT AND SOMETIMES EVEN DOWN CREATING HAZARDS FOR MOTORISTS 9311150086 931115 KONICA PRETAX PROFIT IN FISCAL FIRST HALF FELL TO 316 MILLION SPECIAL TO THE WALL STREET JOURNAL TOKYO KONICA CORP A JAPANESE MAKER OF CAMERAS COPIERS AND OTHER PHOTO PRODUCTS SAID UNCONSOLIDATED PRETAX PROFIT IN THE FIRST HALF ENDED SEPT 30 DROPPED 33 FROM THE YEAREARLIER PERIOD ON AN 86 DECLINE IN SALES PRETAX PROFIT WAS 338 BILLION YEN 316 MILLION DOWN FROM A YEAREARLIER 501 BILLION YEN SALES FELL TO 16818 BILLION YEN FROM A YEAREARLIER 18394 BILLION YEN THE RESULTS REFLECT A SLOWDOWN IN BOTH INDIVIDUAL CONSUMPTION AND CORPORATE SPENDING ON EQUIPMENT THE COMPANY SAID KONICA SAID IT HAD FOREIGNEXCHANGE PROFIT FOR THE SIX MONTHS OF 36 BILLION YEN DUE TO CURRENCY HEDGING AS A RESULT THE COMPANY SAID IT WAS ABLE TO PULL INTO THE BLACK FOR PRETAX PROFIT FROM AN OPERATING LOSS OF 652 MILLION YEN HOWEVER SALES SUFFERED BY 113 BILLION YEN AS A RESULT OF THE STRENGTH OF THE YEN RELATIVE TO OTHER CURRENCIES A STRONG YEN UNDERCUTS THE COMPETITIVENESS OF JAPANESEMADE PRODUCTS SOLD ABROAD KONICA ALSO LOWERED ITS EARNINGS FORECAST FOR ITS YEAR SAYING IT DOESN'T EXPECT A RECOVERY WITHIN THE CURRENT YEAR THE COMPANY NOW EXPECTS PRETAX PROFIT OF FIVE BILLION YEN DOWN FROM ITS EARLIER PREDICTION OF EIGHT BILLION YEN LAST YEAR THE COMPANY HAD PRETAX PROFIT OF 762 BILLION YEN A COMPANY SPOKESMAN SAID KONICA INTENDS TO PUT ITS EFFORTS INTO PRODUCT DEVELOPMENT TO GAIN A COMPETITIVE EDGE IN THE INDUSTRY 9311150085 931115 POLITICS & POLICY CANADA BUSINESSES URGE GOVERNMENT MEXICO TO ADOPT NAFTA IF US DROPS OUT BY JOHN URQUHART STAFF REPORTER OF THE WALL STREET JOURNAL OTTAWA CANADIAN BUSINESS LEADERS ARE URGING THAT CANADA AND MEXICO GO AHEAD ON THEIR OWN WITH THE NORTH AMERICAN FREE TRADE AGREEMENT IF THE US DROPS OUT OF THE THREENATION PACT IN A LETTER TO THE CANADIAN GOVERNMENT THOMAS D'AQUINO PRESIDENT OF CANADA'S BUSINESS COUNCIL ON NATIONAL ISSUES SAID CANADA SHOULD MOVE QUICKLY TO IMPLEMENT NAFTA WITH JUST MEXICO IF THE US HOUSE VOTES AGAINST THE AGREEMENT WEDNESDAY THE BUSINESS COUNCIL IS COMPOSED OF 150 CHIEF EXECUTIVES OF MAJOR CANADIAN COMPANIES SOME ADJUSTMENTS WOULD HAVE TO BE MADE TO NAFTA IF JUST CANADA AND MEXICO WERE TO BE INVOLVED IN THE PACT MR D'AQUINO SAID IN AN INTERVIEW BUT HE SAID HE DIDN'T SEE ANY MAJOR IMPEDIMENT TO SUCH AN ARRANGEMENT THE AGREEMENT WHICH WAS REACHED LAST YEAR PROVIDES FOR A GRADUAL REMOVAL OF TARIFFS AND OTHER BARRIERS TO TRADE AMONG THE THREE COUNTRIES IT IS DUE TO TAKE EFFECT JAN 1 MR D'AQUINO SAID A CANADAMEXICO PACT WOULD HELP CUSHION THE NEGATIVE IMPACT ON MEXICO OF A US WITHDRAWAL FROM NAFTA IF WE SAID THE US SAID NO' SO WE'LL SAY NO' TOO THAT WOULD BE A STRATEGIC ERROR OF GREAT PROPORTIONS MR D'AQUINO SAID JD MOORE VICE PRESIDENT OF THE CANADIAN EXPORTERS' ASSOCIATION SAID A CANADIAN TRADE DEAL WITH MEXICO WOULD HAVE ALOT OF APPEAL FOR CANADIAN EXPORTERS IF THE US DROPS OUT OF NAFTA SOME CANADIAN ANALYSTS WARNED THAT A CANADAMEXICAN AGREEMENT WOULD UPSET LABOR AND POLITICAL INTERESTS IN THE US THAT HAVE OPPOSED NAFTA THE UNITED AUTO WORKERS AND RUSTBELT CONGRESSMEN ARE LEADING THE CHARGE AGAINST NAFTA YET IMAGINE THEIR CHAGRIN WHEN THE CANADIAN OPERATIONS OF THE BIG THREE AUTO MAKERS START TRIPLE SHIFTING IN ORDER TO SUPPLY THE MEXICAN MARKET SAID MURRAY SMITH DIRECTOR OF THE CENTRE FOR TRADE POLICY AND LAW AN INDEPENDENT RESEARCH GROUP DETROIT'S THREE MAJOR AUTO MAKERS HAVE ESTIMATED THAT IF THE US WERE PART OF NAFTA THEIR COMBINED EXPORTS TO MEXICO COULD RISE TO MORE THAN 60000 VEHICLES IN THE FIRST YEAR OF THE TRADE AGREEMENT THEY CURRENTLY EXPORT FEWER THAN 2000 VEHICLES A YEAR TO MEXICO BECAUSE OF THE COUNTRY'S TOUGH IMPORT RULES CANADIAN BUSINESSMEN SAID MEXICAN LEADERS HAVE WELCOMED THEIR PLAN FOR A CANADAMEXICAN TRADE PACT IF THE US DROPS NAFTA THEY SAID CANADA AND MEXICO WOULD LEAVE THE DOOR OPEN FOR THE US TO JOIN THE ACCORD IN THE FUTURE CANADA'S NEW LIBERAL PARTY GOVERNMENT WHICH TOOK OFFICE NOV 4 HASN'T YET SAID WHETHER IT WOULD ENTER INTO A FREE TRADE PACT WITH MEXICO ALONE BUT IN ITS PLATFORM FOR THE OCT 25 ELECTION THE LIBERALS SAID THEY WOULDN'T BE A CAMPFOLLOWER OF THE US AND WOULD SEIZE OPPORTUNITIES FOR TRADE IN THE AMERICAS A CANADIANMEXICAN PACT WOULD MAKE CANADA MORE COMPETITIVE IN BIDDING FOR INVESTORS FROM A CANADIAN SITE A COMPANY WOULD BE ABLE TO EXPORT FREELY TO THE US AND TO MEXICO CANADA HAS HAD A FREE TRADE AGREEMENT WITH THE US SINCE JANUARY 1989 THE PROPOSED NAFTA ACCORD WOULD BROADEN THE USCANADA AGREEMENT TO INCLUDE MEXICO 9311150084 931115 CORRECTION THE 77000 ACRES SET ASIDE AS STUDY AREAS FOR THE KANGAROO RAT IN RIVERSIDE COUNTY CALIF MENTIONED IN IKE SUGG'S NOV 10 EDITORIALPAGE ARTICLE CALIFORNIA FIRES LOSING HOUSES SAVING RATS INCLUDE BOTH PUBLIC AND PRIVATE LAND THIS FACT WAS MISSTATED IN THE ARTICLE 9311150083 931115 LEISURE & ARTS BOOKSHELF A TRIBUTE TO ALTRUISM BY ROBERT A SIRICO IF IT IS TRUE THAT MUCH OF WHAT WE DO FOR OTHERS IS FOR SELFSERVING REASONS IT IS ALSO TRUE THAT WE PERFORM AUTHENTIC ACTS OF CHARITY THE MOTIVATION THAT GIVES RISE TO CHARITY IS SOMETIMES CALLED IDEALISM OR ALTRUISM OR MORE PICTURESQUELY THE TUG OF TRANSCENDENCE IT IS WITH US TODAY AS THE POLITICS OF MEANING BUT IT HAS AN ANCIENT HISTORY THAT CAN CLARIFY OUR CURRENT SENSE OF CHARITY WHEN JESUS COMMANDED HIS FOLLOWERS TO LOVE THEIR NEIGHBORS AS THEMSELVES HE DID NOT LEAVE SELF OUT OF THE EQUATION THE LOVE DUE TO THE SELF IS THE MODEL OF THE LOVE DUE OTHERS THOUGH NOT THE MEASURE OF IT TRUE CONCERN FOR OTHERS MUST BE ROOTED IN A PROPER APPRECIATION FOR THE SELF EVEN IF THIS VIEW OF IDEALISM LEAVES SOME ROMANTICS DISSATISFIED ROBERT COLES TURNS HIS ATTENTION TO THIS TOPIC IN HIS LATEST BOOK THE CALL OF SERVICE A WITNESS TO IDEALISM HOUGHTON MIFFLIN 306 PAGES 2295 A PULITZER PRIZEWINNING PSYCHIATRIST WHO HAS WORN MANY HATS AND RECEIVED NUMEROUS AWARDS AND ACCOLADES DR COLES IS PERHAPS BESTKNOWN FOR HIS STUDIES ON CHILDREN INCLUDING THE MORAL LIFE OF CHILDREN FOR THIS NEW BOOK HIS METHOD WAS TO TALK TO PEOPLE ENGAGED IN ACTS OF SERVICE TO OTHERS SCHOOLTEACHERS PEACE CORPS MEMBERS SOUPKITCHEN AND SHELTER VOLUNTEERS ONE HAS TO ADMIRE THE ACHIEVEMENT OF THREE DECADES OF METICULOUSLY RECORDING CONVERSATIONS WITH A STUNNING ARRAY OF PEOPLE IN AND AROUND SERVICE ORGANIZATIONS AND CLASSIFYING THESE FOR LATER REFERENCE THE DOCUMENTATION THAT THIS BOOK OFFERS IS DISTINCT FROM A STATISTICAL SURVEY WHICH MIGHT BE MORE DETAILED AND OBJECTIVE YET LESS HUMAN AND DESCRIPTIVE MANY OF THE STORIES DR COLES HAS PRESERVED ARE FROM PERSONAL INTERACTION WITH EARLY CIVILRIGHTS GROUPS DR COLES VOLUNTEERED AS A JANITOR FOR A YEAR AT THE ATLANTA OFFICES OF THE STUDENT NONVIOLENT COORDINATING COMMITTEE AT OTHER TIMES HE WORKED WITH MARTIN LUTHER KING WAS MENTORED BY ANNA FREUD MADE HOUSE CALLS WITH THE DOCTORPOET WILLIAM CARLOS WILLIAMS AND WORKED CLOSELY WITH DOROTHY DAY FOUNDER OF THE CATHOLIC WORKER DR COLES DRAWS LIBERALLY FROM THIS STOREHOUSE OF EXPERIENCES IN ORDER TO ANALYZE THE SOURCES OF PEOPLE'S COMMITMENT TO SERVICE AND THE IMPACT IT HAS ON OTHERS THE MANY ANECDOTAL GEMS INCLUDE THE STORY OF A SIXYEAROLD WHOSE EVANGELICAL FAITH IS A BEAUTIFUL EXAMPLE OF HOW TO TRANSFORM ONE'S TORMENTOR INTO A BENEFACTOR THROUGH VIRTUOUS EXAMPLE THE DESCRIPTION OF DOROTHY DAY'S ENCOUNTER WITH A CLASS OF HARVARD FRESHMAN STUDYING ALTRUISM OFFERS AN INTERESTING INSIGHT INTO THE CATHOLIC CONVERT UNFORTUNATELY DR COLES IS FOREVER BEING STUNNED AMAZED ENLIGHTENED OR INFORMED BY THE MOST UNSUSPECTING SOURCES AND IT ALL BECOMES TIRESOME AFTER A WHILE FOR ALL THE TRIBUTES TO ALTRUISM THE BOOK IS FOCUSED MAINLY ON DR COLES WHO ALWAYS EMERGES AS THE HUMBLE HERO FOR EXAMPLE 80 OF THE BOOK'S APPROXIMATELY 85 FOOTNOTES REFER TO DR COLES'S PREVIOUS WORK THE COURSES HE HAS TAUGHT OR PREVIOUS CONVERSATIONS OR INSIGHTS HE HAS HAD A RECURRENT THEME OF THE BOOK IS DR COLES BEING SILENCED BY THE PROFUNDITIES OF THOSE HE RECORDS HE DEPICTS HIMSELF AS RELIABLY TEACHABLE A LITTLE NAIVE AND AS ONE WHO HEARS PEARLS OF WISDOM DROP FROM THE MOUTH OF EVERY DRUNK HE MEETS HE SHOULD HAVE TAKEN THE ADVICE OF HIS FRIEND THE POET DR WILLIAMS I HOPE YOU WON'T GET SENTIMENTAL ABOUT THE POOR OR YOURSELF AS THE ONE WHO IS WORKING WITH THEM DR COLES'S AGENDA IS NOT EXPLICIT BUT ALMOST ALL THE IDEALISTS PRESENTED HERE ARE POLITICALLY CORRECT MOTHER TERESA'S LIFE SERVICE TO LEPROSY PATIENTS CHUCK COLSON'S WORK WITH PRISON INMATES AND BUSINESSMAN TOM MONAGHAN'S SELFLESS SUPPORT OF THE ANTIABORTION MOVEMENT ARE ALL OVERLOOKED AND THOUGH DR COLES POSES AS THE LEARNER IT EVENTUALLY BECOMES APPARENT THAT THIS STUDENT HAS AN AGENDA OF HIS OWN WHICH WOULD BE ACCEPTABLE IF HE WERE MORE FORTHRIGHT ABOUT IT THE LIBERAL POLITICAL AGENDA IS IMPLICITLY PUT FORTH AS THE PROPER FOCUS OF OUR ALTRUISTIC EFFORTS ONE COMES AWAY FROM THE CALL OF SERVICE WITH THE SENSE THAT FOR ALL THE TALK OF HIGH IDEALS AND THE NUMEROUS PEOPLE WHO HAVE THEM MORAL AMBIGUITY PERVADES THE BOOK THERE IS NO MENTION OF THE OBLIGATION TO SERVE OTHERS OR OF OBEDIENCE TO CONSCIENCE TOO OFTEN THE BOOK READS LIKE AN ELABORATE FOOTNOTE TO THE INANE BUMPERSTICKER SLOGAN COMMON IN UNIVERSITY TOWNS THE QUESTION IS THE ANSWER IT IS GRIPPING AT FIRST GLANCE YET MEANINGLESS UPON REFLECTION IT DOES LITTLE GOOD TO STUDY IDEALS APART FROM THE STANDARDS TOWARD WHICH THEY ARE ORIENTED WITHOUT STANDARDS IDEALS ARE ULTIMATELY MEANINGLESS THE PROBLEM WITH DR COLES'S PROBING OF IDEALISM IS THAT AT THE END OF THE DAY HE HAS NOT TOLD US WHAT IS RIGHT MORAL OR TRUE PAULIST FATHER SIRICO IS PRESIDENT OF THE ACTON INSTITUTE FOR THE STUDY OF RELIGION AND LIBERTY IN GRAND RAPIDS MICH 9311150082 931115 REVIEW & OUTLOOK EDITORIAL ASIDES CLINTON THE TAXCUTTER PRESIDENT CLINTON HAS DECIDED IT'S A GOOD IDEA TO CUT INCOME TAXES IN JAPAN EARLIER THIS MONTH HE SENT A LETTER TO PRIME MINISTER MORIHIRO HOSAKAWA URGING JAPAN DEEPEN ITS PROPOSED INCOME TAX CUT TO 56 BILLION AND DELAY CONSUMPTION TAX INCREASES FOR THREE YEARS LAST WEEK TREASURY SECRETARY LLOYD BENTSEN MADE HIS OWN PITCH FOR TAX CUTS IN TOKYO I BELIEVE THAT CUTTING THE INCOME TAX PUTTING MONEY INTO CONSUMERS' POCKETS WHERE THEY CAN BUY PRODUCTS AND FRANKLY RAISE THEIR STANDARD OF LIVING IS APPROPRIATE TOO BAD THE ADMINISTRATION CAN'T GET INTERESTED IN GIVING AMERICANS THE SAME BREAK 9311150080 931115 LEISURE & ARTS TELEVISION DALLAS CONSPIRACY' WAS A GANG OF ONE BY DOROTHY RABINOWITZ HOW THESE THINGS HAPPEN NO ONE KNOWS BUT THERE ARE INDISPUTABLE SIGNS OF A TILT TOWARD SANITY IN THIS YEAR'S REFLECTIONS ON JOHN F KENNEDY'S ASSASSINATION IN THE CASE OF CBS REPORTS' WHO KILLED JFK THE FINAL CHAPTER FRIDAY 911 PM EST ONE OF NUMEROUS INVESTIGATIONS MARKING THE 30TH ANNIVERSARY OF THE EVENT THAT TILT IS A DECISIVE ONE THIS IS ABUNDANTLY CLEAR IN THE FINAL SUMMARY DELIVERED BY DAN RATHER WHO DECLARES THAT AFTER DECADES OF EXHAUSTIVE INVESTIGATIONS THE WARREN COMMISSION'S MAIN FINDINGS REMAIN UNASSAILABLE AND THAT THERE IS NO EVIDENCE THAT ANYONE BUT LEE HARVEY OSWALD WAS INVOLVED IN THE PLOT TO KILL THE PRESIDENT FRONTLINE'S EVER SO LONG LOOK AT THE ASSASSIN'S LIFE TITLED WHO WAS LEE HARVEY OSWALD TUESDAY 912 PM ON PBS IS IN TURN CONTENT TO CONCLUDE THAT THE RIFLE USED TO KILL KENNEDY WAS FIRED BY NONE OTHER THAN LEE HARVEY OSWALD NO ONE TO REPEAT KNOWS HOW THESE THINGS HAPPEN BUT IT'S A FAIR BET THAT THE LACK OF REVERENCE FOR SCENARIOS INVOLVING MULTIPLE PLOTTERS SO NOTABLY EVIDENT IN THE CBS DOCUMENTARY OWES MORE THAN A LITTLE TO THAT MASTER PLOTTER OLIVER STONE IN MR STONE'S JFK WE HAD AT LAST THE ULTIMATE EXPRESSION OF THE DEMENTIA CHARACTERISTIC OF THE CONSPIRACY THEORISTS AND THEIR FAITHFUL LEGIONS THIS FILM WHICH IMPLICATED VIRTUALLY EVERYONE IN GOVERNMENT IN A GRAND DESIGN TO MURDER THE PRESIDENT WAS IN ITS OBLIVIOUSNESS TO FACT ITS PRIMITIVE MALICE ITS FANTASIES OF MULTITUDES OF ASSASSINS AND COASSASSINS FINALLY TOO MUCH IT MAY NOT HAVE BEEN OBVIOUS AT ONCE BUT IN DUE TIME IT BECAME CLEAR THAT THE FILM MIGHT ACTUALLY DO SOME GOOD FOR IN ITS STRANGE WAY AND MAINLY THANKS TO THE REVULSION AND GENERAL MOCKERY IT INSPIRED JFK MAY HAVE BEGUN THE UNDOING OF THE CONSPIRACY THEORISTS THE CBS PROGRAM CONCLUDES THAT THE YOUNGER PEOPLE ARE THE MORE INCLINED THEY ARE TO BELIEVE THAT THE ASSASSINATION WAS A LARGE PLOT THIS SHOULD SURPRISE NO ONE AND IT HAS LITTLE TO DO WITH BEING BORN AFTER THE EVENT WHAT IT DOES HAVE TO DO WITH IS THE TRUTH THAT FOR THE YOUNG NOW BEING EDUCATED IN THE SCHOOLS THERE ARE NO FACTS OF HISTORY ONLY POINTS OF VIEW THIS IS AFTER ALL THE GENERATION BEING BROUGHT UP IN THE WHO'STOSAYWHAT'STRUE AND HEYANYTHINGISPOSSIBLE SCHOOLS OF HISTORY GO TO ANY CAMPUS NOW AND TELL STUDENTS THAT THE GOVERNMENT HAS THESE MANY YEARS BEEN COVERING UP THE FACT THAT THE PLANES THAT ATTACKED PEARL HARBOR ON DEC 7 1941 WERE IN FACT PILOTED BY AGENTS OF THE CIA AND NOT A JAPANESE STRIKE FORCE AND YOU WILL FIND PLENTY IN YOUR AUDIENCE PREPARED TO AGREE THAT THIS COULD WELL BE TRUE ASSUMING OF COURSE THAT THERE ARE THAT MANY STUDENTS AROUND AWARE THAT SOMETHING OF NOTE HAPPENED AT PEARL HARBOR CONSPIRACY BUFFS OF ALL AGES WILL NOT FEEL DEPRIVED ENTIRELY BY THE FRONTLINE FILM WHICH PROCEEDS AFTER AN ADMIRABLE AND DRAMATIC FIRST HOUR TO PLUMMET INTO A WILD TANGLE OF POSSIBLE CONSPIRATORS PLOT LINKS AND WITNESSES SO MANY WITNESSES TO SO LITTLE FORMER FBI AGENT AND RIGHTWINGER GUY BANNISTER'S SECRETARYMISTRESS IS HERE FOR ONE TO ATTEST THAT OSWALD VISITED BANNISTER'S OFFICE A DIFFERENT AUTHORITY TESTIFIES THAT SHE HAS THE WRONG ADDRESS SOMEONE ELSE TELLS HOW HE SAW OSWALD LUNCHING WITH BANNISTER THERE IS A PICTURE OF SOMEONE WHO MAY OR MAY NOT BE OSWALD SHOWN AT A BARBECUE WITH ANOTHER RIGHTWING STAR OF THE CONSPIRACY FOLLIES NAMELY DAVID FERRIE THERE IS MORE MUCH MORE THEN HAVING ENDURED ALL THIS OMINOUS DETAIL WE ARE INFORMED BY THE NARRATOR THAT THE RELATIONSHIP BETWEEN OSWALD FERRIE AND BANNISTER REMAINS ELUSIVE SO DOES MUCH ELSE IN THE HIGHLY ATMOSPHERIC SECOND HOUR WHICH BEGINS BY DESCRIBING 1963 NEW ORLEANS AS A CITY SEETHING WITH INTRIGUE AND PARANOIA AMONG STILL OTHER WITNESSES DREDGED UP FROM THIS SEETHING INTRIGUING CITY ARE A NETWORK OF ANTICASTROITES AND THEIR FAMILIES INCLUDING TWO SISTERS WHO SAY THEY MET OSWALD ONE FATHER CONFESSOR TO THE TWO SISTERS WHO RECALLS THAT JANET LEIGH WAS APPEARING AT A CHARITY AT THE TIME IN QUESTION AND TWO AUSTRALIAN GIRLS WHO MET OSWALD ON A BUS THIS NATTERING IS FORTUNATELY PRECEDED AND FOLLOWED BY FAR BETTER MATERIAL PARTICULARLY THE OSWALD FAMILY PORTRAIT OF THEIR MOTHER MARGUERITE LEE'S BROTHER ROBERT COOLY OBSERVES THAT SHE WAS MUCH LIKE LEE A WOMAN WHO FELT CIRCUMSTANCES WERE ALWAYS AGAINST HER AND THAT THE WORLD OWED HER A LIVING ALL OF HER CHILDREN LEE INCLUDED WERE DISPATCHED TO ORPHANAGES AT VARIOUS TIMES IN THEIR YOUNG LIVES FRONTLINE FOLLOWS LEE'S TRAVELS FROM BOYHOOD IN WHICH HE SKIPS SCHOOL HANGS ABOUT IN ZOOS MUSEUMS AND LIBRARIES AND IMMERSES HIMSELF IN THE FERVOR OVER COMMUNIST SPIES THAT WAS IN THE AIR IN THE EARLY '50S EVERY HOPEFUL STEP FORWARD FOR HIM NOW BECOMES A BITTER DISAPPOINTMENT FROM THE MARINES WHERE HE LANDS IN THE BRIG TO A SOJOURN IN THE SOVIET UNION UNDER THE EYES OF JUSTIFIABLY SUSPICIOUS KGB AGENTS WHO FIGURE OUT QUICKLY THAT THIS IS THE KIND OF SPYDEFECTOR WHOSE HELP THEY CAN DO WITHOUT IT IS A RICH PORTRAIT OF THE EMBLEMATIC MISFIT OF OUR AGE THE FILMMAKERS WHO CLEARLY KNOW A TELLING FINAL JUDGMENT WHEN THEY SEE IT CHOSE TO END THIS WORK WITH ROBERT OSWALD'S UNANSWERABLE DECLARATION IN SHORT THAT THE FACTS OF HIS BROTHER'S GUILT ARE CLEAR DESPITE THOSE WHO KEEP TRYING TO DISTORT THOSE FACTS THIS EMINENTLY SANE OSWALD MAY BE ABLE TO DERIVE A CERTAIN COMFORT FROM THE CBS REPORT WHICH CANDIDLY SETS ABOUT TO DISPENSE WITH DISTORTIONS RAISED BY SUCH AS THE JFK FILM IT IS ON THE WHOLE THE MORE COHERENT AND THE MORE DRAMATIC OF THE TWO DOCUMENTARIES HERE FOR INSTANCE IS FOOTAGE OF THAT EERIE PERSONALITY MARGUERITE OSWALD CARRYING ON A SELFCONFIDENT DISCOURSE ABOUT HER SON AND HIS DAYS AS JUST A NORMAL CHRONIC TRUANT FROM SCHOOL LIKE ANY OTHER HEALTHY BOY THERE IS OLD FILE FOOTAGE THAT HAS NOT LOST ITS POWER OVER TIME IT INCLUDES NOT ONLY THOSE FAMILIAR PICTURES OF THE RIDERLESS HORSE AND THE SALUTING SON BUT LESSFAMILIAR ONES SUCH AS THAT OF THE REPORTERS WHO CARRIED OSWALD'S CASKET TO HIS BURIAL PLACE BECAUSE NO OTHER MOURNERS WERE PRESENT TO DO IT AND THERE ARE THE ENTIRELY NEW PICTURES OF TWO CBS VETERANS RECALLING THE MURDER OF A PRESIDENT ANCHORMEN SHOULDN'T CRY WALTER CRONKITE WRYLY TELLS DAN RATHER EVEN AS HIS VOICE BEGINS TO BREAK JUST AS IT DID ONAIR THAT LONG AGO DAY IN DALLAS 9311150079 931115 REVIEW & OUTLOOK EDITORIAL ASIDES SLOW LEARNERS FOR THE NINTH TIME SINCE 1933 OREGON'S VOTERS HAVE OVERWHELMINGLY REJECTED A SALES TAX IT WAS 75 TO 25 THIS GOAROUND DESPITE AN ATTEMPT TO SWEETEN THE PILL WITH A PROPERTYTAX CUT A CORPORATETAX INCREASE AND A TIE TO SCHOOL FUNDING DON MCINTIRE THE ATHLETICCLUB OWNER WHO GUIDED THE STATE'S HISTORIC MEASURE 5 TAX REDUCTION TO ELECTORAL VICTORY IN 1990 HELPED LEAD THE CHARGE AGAIN THIS TIME POINTING TO RAPID GROWTH IN SCHOOL SALARIES AND NOT A REVENUE PINCH AS THE SOURCE OF FISCAL WOES OREGON'S REFUSAL TO VOTE ADDITIONAL COSTS ONTO ITS PURCHASES SHOULD CAUTION POLITICIANS ELSEWHERE 9311150078 931115 WHO'S NEWS CLAYTON HOMES INC INCREASES ITS NUMBER OF OUTSIDE DIRECTORS KNOXVILLE TENN CLAYTON HOMES INC SAID IT ADDED AN OUTSIDE DIRECTOR TO ITS BOARD AND CUT TWO INSIDE DIRECTORS' POSITIONS SIGNIFICANTLY BOOSTING ITS OUTSIDE REPRESENTATION WALLACE DOUD 68 YEARS OLD AND RETIRED VICE PRESIDENT OF INTERNATIONAL BUSINESS MACHINES CORP WAS NAMED A DIRECTOR OF THE PRODUCER OF MANUFACTURED HOMES MEANWHILE TWO INSIDE DIRECTORS RESIGNED RICHARD RAY EXECUTIVE VICE PRESIDENT FOR FINANCE AND CHIEF FINANCIAL OFFICER AND E TYLER KELLY EXECUTIVE VICE PRESIDENT MANUFACTURING DIVISION THE RESIGNATIONS FOLLOWED THE COMPANY'S DECISION TO INCREASE ITS NUMBER OF OUTSIDE DIRECTORS MESSRS RAY AND KELLY RETAIN THEIR OTHER POSTS MR RAY SAID THAT INSTITUTIONAL INVESTORS TELL US THEY HAVE A LOT MORE CONFIDENCE IF THERE ARE MORE OUTSIDERS ON THE BOARD THE COMPANY NOW HAS FIVE OUTSIDE DIRECTORS AND TWO INSIDE DIRECTORS CLAYTON'S BOARD HAS SEEN CONSIDERABLE TURNOVER RECENTLY IN AUGUST TWO OUTSIDE DIRECTORS RESIGNED PROTESTING A DECISION BY THE BOARD TO SUSPEND ITS INVESTIGATION OF THE COMPANY'S FAILURE TO PAY SOME SALES TAX THE TENNESSEE DEPARTMENT OF REVENUE IS STILL INVESTIGATING THE MATTER THE COMPANY BLAMED A FORMER CONTROLLER OF ITS RETAIL GROUP FOR ITS TAX PROBLEMS CLAYTON ALSO SAID IT NAMED ITS CORPORATE CONTROLLER TIMOTHY R RHOADES 41 TO THE ADDITIONAL POST OF TREASURER HE SUCCEEDS WILLIAM O HENRY 33 WHO REMAINS MANAGER OF BENEFIT PROGRAMS 9311150076 931115 TECHNOLOGY & HEALTH ROBERT GALLO VINDICATED' BY US PANEL OF MISCONDUCT IN AIDS VIRUS DISCOVERY BY MARILYN CHASE STAFF REPORTER OF THE WALL STREET JOURNAL AFTER A DECADE OF BITTER WRANGLING BETWEEN AMERICAN AND FRENCH SCIENTISTS OVER WHO DISCOVERED THE AIDS VIRUS A FEDERAL PANEL DROPPED ITS FINDINGS OF SCIENTIFIC MISCONDUCT AGAINST EMBATTLED US AIDS RESEARCHER ROBERT GALLO I AM DELIGHTED THAT I HAVE BEEN COMPLETELY VINDICATED SAID DR GALLO CHIEF OF THE LABORATORY OF TUMOR CELL BIOLOGY AT THE NATIONAL CANCER INSTITUTE HE ADDED HE NOW WILL REDOUBLE MY EFFORTS IN THE FIGHT AGAINST AIDS AND CANCER IN PARIS YESTERDAY THE CODISCOVERER OF THE AIDS VIRUS LUC MONTAGNIER CALLED DR GALLO'S VICTORY AN INTERIOR MATTER OF THE UNITED STATES GOVERNMENT WHICH DOESN'T TOUCH THE ISSUE OF HOW CREDIT FOR THE DISCOVERY IS SHARED IN 1983 DR MONTAGNIER AND HIS COLLEAGUES AT THE PASTEUR INSTITUTE IN PARIS REPORTED DISCOVERING THE AIDS VIRUS FOLLOWED BY DR GALLO'S REPORT IN EARLY 1984 THE FRENCH SOON CHARGED DR GALLO HAD USED THEIR VIRUS IN WINNING A US PATENT COVERING AN AIDS BLOOD TEST PRODDED BY STORIES IN THE CHICAGO TRIBUNE THE US GOVERNMENT LAUNCHED AN INQUIRY IN 1989 INITIALLY THE FEDERAL OFFICE OF RESEARCH INTEGRITY ORI FOUND DR GALLO COMMITTED MISCONDUCT IN PLAYING DOWN THE ROLE OF THE FRENCH AIDS VIRUS IN CLAIMS ABOUT HIS OWN LAB'S WORK WHILE DR GALLO CONTINUED HIS JOB AT NCI SIMILAR FINDINGS HURT THE CAREER OF HIS COLLEAGUE MIKULAS POPOVIC JOBLESS FOR THREE YEARS DR POPOVIC LEFT THE US AND NOW WORKS AT SWEDEN'S KAROLINSKA INSTITUTE IN A KEY LEGAL TURNING POINT MISCONDUCT FINDINGS AGAINST DR POPOVIC WERE OVERTURNED NOV 4 BY A DEPARTMENT OF HEALTH AND HUMAN SERVICES' APPEALS BOARD EMPLOYING A STRICTER STANDARD THE BOARD BLASTED ORI FOR FAILING DESPITE FOUR YEARS OF INVESTIGATION AND THOUSANDS OF PAGES OF DOCUMENTS TO PROVE THERE WAS ANY INTENT TO FALSIFY DATA IN THE WAKE OF THAT RULING ORI DIRECTOR LYLE BIVENS ON FRIDAY RELUCTANTLY WITHDREW HIS MISCONDUCT FINDINGS AGAINST DR GALLO WHILE CONTINUING TO DEFEND HIS ORIGINAL CONCLUSIONS DR BIVENS BLAMED HIS RETREAT ON THE APPEALS PANEL'S NEW AND EXTREMELY DIFFICULT STANDARD FOR PROVING MISCONDUCT HOWEVER PASTEUR'S WASHINGTON ATTORNEY ROBERT ODLE SAID NONE OF THIS CHANGES THE RESOLVE OF THE PASTEUR INSTITUTE TO RIGHT THE SERIOUS WRONG THAT HAS BEEN DONE PASTEUR MUST RECEIVE BOTH THE CREDIT AND THE ROYALTIES UNDER A 1987 SETTLEMENT MORE THAN 325 MILLION IN ROYALTIES ON THE AIDS BLOOD TEST WAS SPLIT BETWEEN THE US AND FRANCE THROUGH THE END OF 1992 EACH COUNTRY HAS DONATED 80 OF ITS PROCEEDS TO A FRENCHAMERICAN AIDS FOUNDATION HHS SECRETARY DONNA SHALALA IS STANDING FIRMLY BY THAT SETTLEMENT HOWEVER PASTEUR WANTS 100 OF THE ROYALTIES MR ODLE SAID ADDING THAT HE'LL APPEAL TO CLINTON APPOINTEE HAROLD VARMUS WHO IS AWAITING CONFIRMATION AS DIRECTOR OF THE NATIONAL INSTITUTES OF HEALTH IN PARIS DR MONTAGNIER SAID IN A TELEPHONE INTERVIEW YESTERDAY PASTEUR'S REQUEST FOR MORE ROYALTIES IS BASED ON THE FACT THAT GALLO HIMSELF HAS RECOGNIZED HIS LAB USED A FRENCH VIRUS WHETHER THAT USE WAS INTENTIONAL OR RESULTED FROM AN ACCIDENTAL CONTAMINATION HAS NEVER BEEN PROVED CONCLUSIVELY I HAVE TURNED A NEW PAGE DR MONTAGNIER SAID I HOPE IN THE FUTURE THAT THERE WILL BE A GESTURE FROM THE US GOVERNMENT TO INCREASE COOPERATION 9311150075 931115 LETTERS TO THE EDITOR A PROFOUND MORAL PARADOX CHARLES MURRAY'S OCT 29 EDITORIAL PAGE PIECE THE COMING WHITE UNDERCLASS RAISES A PROFOUND MORAL PARADOX THAT HE HIMSELF APPEARS NOT TO FULLY APPRECIATE WITH CONSIDERABLE THOUGHTFULNESS AND CONSERVATIVE PASSION OVER THE MOUNTING TRAGEDY OF ILLEGITIMATE BIRTHS IN THIS COUNTRY MR MURRAY CALLS ESSENTIALLY FOR A RETURN TO THE SOCIAL VALUES AND POLICIES OF AS RECENTLY AS JOHN KENNEDY'S PRESIDENCY IE HOLDING UP MARRIAGE AS THE ONLY SOCIALLY ACCEPTABLE VENUE FOR BEARING AND RAISING CHILDREN AND REMOVING ALL GOVERNMENT SUPPORT FOR SINGLE WOMEN WHO BEAR AND RAISE THE CHILDREN HOWEVER WELL OR POORLY BY THEMSELVES HIS RESPECT FOR THE INSTITUTION OF MARRIAGE IS LAUDABLE HE'S RIGHT TO SAY THAT THE OPTIMUM HUMAN ENVIRONMENT FROM WITHIN WHICH A CHILD CAN BECOME A PRODUCTIVE RESPONSIBLE COMPASSIONATE MEMBER OF SOCIETY IS THE MARRIAGE COMMITMENT BUT IN PRESCRIBING HIS BITTER PILLS OF SOCIAL STIGMATIZATION AND SINKORSWIM GOVERNMENTAL POLICY HE ALMOST IGNORES THE PATIENT'S MOST CONVENIENT REMEDY FOR THIS SOCIAL ILLNESS ABORTION AT THE STAGGERING RATE OF 16 MILLION TIMES A YEAR AMERICAN WOMEN AND TEENAGE GIRLS MARRIED AND UNMARRIED ARE ABORTING THEIR UNBORN CHILDREN THE UNMARRIED ARE DOING IT FOR MANY REASONS ONE OF WHICH IS THAT AN ILLEGITIMATE BIRTH IS STILL A SOCIALLY HORRIFIC ACT THROUGHOUT MUCH OF SOCIETY BUT AN INCREASINGLY MORE COMPELLING REASON FOR THIS PROFOUNDLY DESTRUCTIVE ACT IS THAT THE OLD WAY ON THE SUBJECT OF ABORTION HAS ALSO BEEN DRAMATICALLY ALTERED SINCE JOHN KENNEDY'S PRESIDENCY IT HAS BEEN LEGAL TO ELECT ABORTION FOR ANY REASON IN THIS COUNTRY SINCE 1973 EVEN MORE ALARMINGLY IT HAS BECOME A REPRODUCTIVE RIGHT THAT VIRTUALLY DEFINES A WOMAN'S BODILY AND EMOTIONAL INTEGRITY WHILE IT DEFINES AWAY THE OTHER HUMAN LIFE INVOLVED MR MURRAY'S REASONING SEEMS EITHER ASTOUNDINGLY SLOPPY OR ASTOUNDINGLY PROCHOICE IN THIS REGARD IN ORDER TO ARGUE AGAINST THE IRRESPONSIBILITY OF PREMARITAL SEX AND SINGLE MOTHERHOOD HE USES LANGUAGE LIKE BRINGING A CHILD INTO THE WORLD AND HAVING A BABY BUT AFTER THE PREMARITAL SEX AND BEFORE THE SINGLE MOTHERHOOD THERE'S ANOTHER HUMAN LIFE INVOLVED WITH A RIGHT TO BE BORN MR MURRAY ACKNOWLEDGES THAT MANY WOMEN MAY HAVE ABORTIONS WHEN AFDC AND OTHER PUBLIC SUPPORTS ARE WITHDRAWN AS HE RECOMMENDS HE THEN CASUALLY CONCLUDES THAT WHETHER THIS IS GOOD DEPENDS ON WHAT ONE THINKS OF ABORTION AMONG SOCIALLY HORRIFIC ACTS ABORTION HAS TO RANK FAR ABOVE EVEN ILLEGITIMACY THERE IS NO QUESTION THAT VIRTUALLY EVERY SOCIAL PROBLEM FACING OUR NATION IN HIS WORDS CRIME DRUGS POVERTY ILLITERACY WELFARE AND HOMELESSNESS IS VASTLY EXACERBATED BY THE EPIDEMIC OF UNINTENDED AND UNWANTED BIRTHS BUT MR MURRAY'S ASSESSMENT OF THE ROOTS OF THE PROBLEM AND HIS PROPOSED SOLUTIONS ARE DANGEROUSLY OFF COURSE MR MURRAY BEGINS WITH THE PATRONIZING AND TREACHEROUS PREMISE THAT OUTOFWEDLOCK BIRTHS HAPPEN BECAUSE BOYS LIKE TO SLEEP WITH GIRLS AND GIRLS THINK BABIES ARE ENDEARING HE ENDS WITH A CALL TO RESTORE ECONOMIC PENALTIES AND SEVERE SOCIAL STIGMA ON SINGLE PARENTS ALONG THE WAY HE MAKES CLEAR THAT BY SINGLE PARENTS HE REALLY MEANS SINGLE MOTHERS SUGGESTING THAT WOMEN SPONTANEOUSLY GENERATE NOT ONLY BABIES BUT POVERTY ITSELF IN SUM MR MURRAY WANTS TO PULL THE PLUG ON OUR NATION'S MOST VULNERABLE WOMEN AND CHILDREN EVERY TUB ON ITS OWN BOTTOM HE SAYS ABLE MOTHERS WILL EKE OUT A SUBSISTENCE WITHOUT GOVERNMENT HELP AND AS FOR THE OTHERS WELL LET'S JUST CART THEIR CHILDREN OFF TO LAVISHLY FUNDED ORPHANAGES THIS IS A GROTESQUE VISION FIRST IT MALIGNS THE MANY SINGLE MOTHERS WHO ARE DOING ALL THEY CAN TO ACHIEVE INDEPENDENCE WORSE IT'S A PRESCRIPTION FOR DISASTER ALREADY 360000 CHILDREN LANGUISH IN A CHILD WELFARE SYSTEM PLAGUED BY FUNDING SHORTAGES INADEQUATE FACILITIES AND STAFFING CRISES MR MURRAY'S PLAN WOULD CRUSH THIS OVERBURDENED SYSTEM LEAVING MORE AND MORE BABIES TO BE ABANDONED IN ALLEYS DUMPSTERS AND PUBLIC RESTROOMS HERE ARE SOME REAL SOLUTIONS TO THE EPIDEMIC OF TEEN PREGNANCY AND ITS ATTENDANT CYCLE OF HOPELESSNESS AMERICA MUST PROVIDE UNIVERSAL ACCESS TO COMPREHENSIVE SEXUALITY EDUCATION AND CONFIDENTIAL AFFORDABLE CONTRACEPTION WE MUST MAKE SAFE LEGAL ABORTION AVAILABLE TO ALL WOMEN WITH FEDERAL AND STATE FUNDING FOR THOSE WHO NEED IT WE MUST RAISE OUR EXPECTATIONS OF YOUNG MEN MAKING THEM EQUAL PARTNERS IN PREVENTING UNINTENDED PREGNANCY AND IN CARING FOR THE CHILDREN THEY FATHER AS US SURGEON GENERAL JOYCELYN ELDERS HAS SAID THERE IS MORE TO BEING A FATHER THAN PROVIDING THE SPERM ABOVE ALL WE MUST EQUIP OUR YOUNG PEOPLE WITH SELFESTEEM AND HOPE THROUGH DECENT EDUCATION BETTER JOB OPPORTUNITIES AND MEANINGFUL LIFE OPTIONS IN SHORT WE MUST GIVE THEM A FUTURE WORTH PROTECTING PLANNED PARENTHOOD FEDERATION OF AMERICA INC MR MURRAY'S RECOMMENDATIONS FOR REDUCING OUTOFWEDLOCK BIRTHS MAY BE USEFUL HOWEVER HIS EMPHASIS ON THE IMPORTANCE OF PREVENTING WHITE ILLEGITIMACY UNDERCUTS THE MORAL AUTHORITY OF ANYTHING HE MIGHT HAVE TO SAY AFTER DECADES OF BLAMING AFRICANAMERICANS FOR THEIR HIGH ILLEGITIMACY RATE BY ASCRIBING IT TO THEIR LACK OF MORALS AND THEIR VERY CULTURE HAVE CONSERVATIVES FINALLY DISCOVERED THAT THE CAUSES OF ILLEGITIMACY MAY NOT BE RACE SPECIFIC AND ARE WHITE CHILDREN TO BE THE FOCUS AND PRIMARY BENEFICIARIES OF EFFORTS TO TURN BACK THE TIDE OF SOCIAL AND ECONOMIC INCENTIVES FOR ILLEGITIMACY SURELY IT IS NOT TOO LATE FOR BLACK CHILDREN 9311150074 931115 BUSINESS BRIEFS HEALTHMOR INC CLEVELAND WILL PURCHASE THE CARPETCLEANING UNIT OF RECKITT & COLMAN CANADA INC TERMS WEREN'T DISCLOSED MAXUS ENERGY CORP DALLAS SIGNED A THREEYEAR CONTRACT WITH THE CHINESE NATIONAL OFFSHORE OIL CO FOR OIL AND NATURALGAS EXPLORATION IN THE EAST CHINA SEA MAXUS ALSO PLANS TO ACQUIRE SEISMIC DATA AND COMPLETE A DRILLING PROGRAM ACMECLEVELAND CORP'S SUBSIDIARY COMMUNICATIONS TECHNOLOGY CORP ACQUIRED SCIENTIFICATLANTA INC'S TELECOMMUNICATIONS INSTRUMENTATION BUSINESS THE ACQUISITION WILL ADD 5 MILLION TO 10 MILLION IN ANNUAL SALES TO CTC WITCO CORP NEW YORK IS MAKING WAY FOR A NEW CHEMICAL AND PETROLEUM PRODUCTION FACILITY BY 1995 PENDING A FINAL REVIEW VALUE OF THE PROJECT WASN'T DISCLOSED 9311150073 931115 REVIEW & OUTLOOK EDITORIAL NAFTA JITTERS IN EUROPE SOMEHOW IT WOULD BE FITTING IF ROSS PEROT WERE TO JOIN JERRY LEWIS IN THE PANOPLY OF FRANCE'S FAVORITE AMERICANS BATTLING THE NORTH AMERICAN FREE TRADE AGREEMENT MR PEROT IS SERVING AS WATER BOY FOR FRANCE'S PROTECTIONISTS IF MR PEROT PAT BUCHANAN AND THE REST SUCCEED IN KILLING NAFTA THE OUTLOOK FOR THE GATT ROUND WILL BE DIRE SINCE WORLD WAR II THE US HAS BEEN THE PRIME SPONSOR OF THE FREETRADE REGIME THAT HAS LED TO SO MUCH STABILITY AND PROSPERITY ACROSS EUROPE IF IN THE POSTCOLD WAR WORLD THE US WERE TO SIGNAL THAT IT OPPOSES FREE TRADE EVEN WITH ITS NEIGHBOR MEXICO THEN THE GLOBE'S PREVAILING WINDS WOULD BE FUNDAMENTALLY ALTERED PROTECTIONIST FORCES LURKING IN MOST COUNTRIES AND ON THE MARCH IN FRANCE WOULD BE ENCOURAGED MR CLINTON WAS TALKING ABOUT IMAGINARY CONVERSATIONS WITH ASIAN LEADERS WITH WHOM HE MUST MEET LATER THIS WEEK NONETHELESS THE SAME SORT OF ARGUMENT APPLIES TO EUROPE IT'S CLEAR THAT EUROPEAN COUNTRIES ARE AWARE OF THE WAY A NAFTA DEFEAT COULD WEAKEN THE US NEGOTIATING POSITION ON THE GATT IN AN INTERVIEW WITH THE WALL STREET JOURNAL EUROPE'S PHILIP REVZIN STUART EIZENSTAT THE US REPRESENTATIVE TO THE EC NOTED IT'S BECOME A COMMON REFRAIN FROM EVERYONE AT THE EC TO TURN NAFTA ON US APPARENTLY EUROPEAN NATIONS HAVE BEEN HESITANT TO PUT FORTH ANY NEW GATT OFFERS IN ADVANCE OF THE CONGRESSIONAL VOTE ON NAFTA IN NAFTA AND THE GATT POLITICIANS HAVE SOMETIMES LOST SIGHT OF THE IDEAL OF OPEN TRADE IN THEIR PEDANTIC STRUGGLES FOR NATIONAL ADVANTAGE THIS HAS MADE IT POSSIBLE FOR DEMAGOGUES IN BOTH THE THE US AND EUROPE TO FOG THE AIR WITH DUBIOUS STATISTICS AND OVERBLOWN RHETORIC 9311150072 931115 BUSINESS BRIEF TANDEM COMPUTERS INC PAYMENT SYSTEMS SUBSIDIARY TO BE SOLD TO ITS MANAGERS TANDEM COMPUTERS INC SAID IT AGREED TO SELL A SUBSIDIARY THAT MAKES ELECTRONIC PAYMENT SYSTEMS SOFTWARE TO MEMBERS OF THE UNIT'S SENIOR MANAGEMENT TEAM UNDER THE AGREEMENT TANDEM A CUPERTINO CALIF MAKER OF MULTIPROCESSOR COMPUTER SYSTEMS WILL SELL ITS INTEREST IN THE UNIT FOR AN UNDISCLOSED AMOUNT OF CASH THE PURCHASE WHICH IS SUBJECT TO REVIEWS ON BEHALF OF OUTSIDE INVESTORS IS SET TO CLOSE DEC 31 THE UNIT APPLIED COMMUNICATIONS INC PRODUCES SOFTWARE FOR POINTOFSALES APPLICATIONS AND AUTOMATIC TELLER MACHINES ITS PRESIDENT WILLIAM FISHER SAID THAT OPERATING AS AN INDEPENDENT COMPANY WILL PROMOTE ACI'S GROWTH WHILE ALLOWING IT TO REMAIN A KEY BUSINESS PARTNER FOR TANDEM IN THE MARKETPLACE 9311150071 931115 BUSINESS BRIEF SYMBOL TECHNOLOGIES INC STOCK RISES SHARPLY ON NEWS OF CONTRACT WITH WALMART THE STOCK PRICE OF SYMBOL TECHNOLOGIES INC ROSE 83 ON NEWS THAT IT WILL SUPPLY WALMART STORES INC WITH 2200 HANDHELD LASER BARCODE SCANNERS SYMBOL WHICH MANUFACTURES AND MARKETS BARCODE SCANNERS AND OTHER PRODUCTS FOR RETAILERS WILL SUPPLY SCANNERS TO BE USED IN WAREHOUSES AS WELL AS AT CHECKOUT COUNTERS IN WALMART STORES AND SAM'S CLUB DISCOUNTSTORE LOCATIONS SYMBOL BOHEMIA NY SAID IT HAS SUPPLIED SCANNERS AND OTHER DEVICES TO WALMART BENTONVILLE ARK FOR EIGHT YEARS VALUE OF THE CONTRACT WASN'T DISCLOSED BUT A SINGLE SCANNING UNIT SELLS FOR ABOUT 1200 IN 1992 SYMBOL HAD REVENUE OF 3449 MILLION IN COMPOSITE TRADING YESTERDAY ON THE NEW YORK STOCK EXCHANGE SYMBOL CLOSED AT 1950 UP 150 A SHARE IN HEAVY TRADING 9311150070 931115 LETTERS TO THE EDITOR PATENTS RIGHTLY GRANTED FIRST COME FIRST SERVE AS AN ATTORNEY REGISTERED TO PRACTICE BEFORE THE US PATENT AND TRADEMARK OFFICE PTO FOR 20 YEARS I READ WITH GREAT INTEREST YOUR OCT 21 PAGEONE ARTICLE PATENT QUAGMIRE ABOUT THE BRAWL OVER THE TRUE INVENTORS OF THE ANTIAIDS DRUG AZT ALTHOUGH YOU WRITE THAT THE CURRENT SYSTEM SEEMS TO HAVE FALLEN BEHIND THE TIMES AND THAT MOST COUNTRIES ALREADY USE THE FIRSTTOFILE SYSTEM FOR DETERMINING THE TRUE INVENTORS ENTITLED TO A PATENT YOU SEEM TO CONTRADICT YOURSELF BY ALSO STATING THAT THE MOST RADICAL PROPOSAL WOULD METE OUT OWNERSHIP RIGHTS FIRST COME FIRST SERVED WILLIAM S THOMPSON A PAST PRESIDENT OF THE AMERICAN INTELLECTUAL PROPERTY LAW ASSOCIATION WRITES IN THE AIPLA QUARTERLY JOURNAL FOR FALL 1993 THAT THE US PTO ANNUALLY HANDLES APPROXIMATELY 200 TO 300 PRIORITY CHALLENGES WHILE PROCESSING ABOUT 185000 APPLICATIONS WRITING IN THE SAME ISSUE KEITH M KUPFERSCHMID AN INTERNATIONAL AND LEGISLATIVE INTELLECTUAL PROPERTY SPECIALIST IN THE PTO POINTS OUT THAT IN THE UNITED STATES' FIRSTTOINVENT SYSTEM 9999 OF THE PATENTS ARE AWARDED TO THE FIRST INVENTOR TO FILE THUS IN MY OPINION THE PROPOSAL TO GIVE THE PATENT ON A FIRST COME FIRST SERVED BASIS IS NOT RADICAL AT ALL IN FACT THE ONLY THREE COUNTRIES THAT STILL ADHERE TO THE FIRSTTOINVENT SYSTEM ARE JORDAN THE PHILIPPINES AND THE US SO WE ARE INDEED BEHIND THE TIMES AND AS MR KUPFERSCHMID CONCLUDES THE FIRSTTOFILE SYSTEM IS UNFAIR TO TOO FEW INVENTORS TO MAKE THE SYSTEM AS A WHOLE UNFAIR 9311150069 931115 TECHNOLOGY A SPECIAL REPORT A NEW WORLD CYBERSPACED OUT CAN THE AVERAGE HUMAN'S BRAIN NOT TO MENTION EYES FINGERS AND EGO ENDURE 12 STRAIGHT HOURS ONLINE BY THOMAS E WEBER SO WHAT IS IT REALLY LIKE IN CYBERSPACE WHO LIVES OUT THERE AND WHAT DO THEY ACTUALLY DO THERE IS IT SEEMS ONLY ONE WAY TO FIND OUT AND THAT'S WHAT I DID FOR 12 HOURS STRAIGHT I LIVED ONLINE NO SUNSHINE OR TV BREAKS NO PHONE CONVERSATIONS OR IDLE CHATTER WITH MY WIFE AND I SURVIVED MOST OF THE STORIES ARE FAMILIAR FODDER THE RESULTS OF AN OPERATION TO SEPARATE SIAMESE TWINS A HOSTAGE CRISIS IN NICARAGUA THE STORIES HOWEVER HAVE BEEN UPDATED SINCE MY MORNING NEWSPAPER ONLINE NEWS HAS THE IMMEDIACY OF TELEVISION BUT LETS YOU PICK AND CHOOSE WHAT TO READ NEWSPAPERSTYLE ONE STORY CATCHES MY EYE TEEN TO FOOT BILL FOR ONLINE THREAT IT SEEMS THAT POLICE BECAME CONCERNED ABOUT A POSSIBLE DANGER TO BALTIMORE ORIOLES PLAYER CAL RIPKEN AFTER A TEENAGE GIRL WROTE A THREATENING MESSAGE ABOUT HIM RIGHT HERE ON PRODIGY IT TURNS OUT SHE WAS ONLY TEASING HER BOYFRIEND AN ORIOLES FAN BUT POLICE SAID SHE WOULD GET THE BILL FOR THE EXTRA SECURITY THEY PUT ON AT AN ORIOLESMARINERS GAME I'LL HAVE TO WATCH WHAT I TYPE IN ADDITION TO JUNK MAIL PRODIGY FEATURES ANOTHER ANNOYING PARALLEL WITH THE REAL WORLD ADVERTISEMENTS JUST ABOUT EVERY AREA OF PRODIGY INCLUDES AN ELECTRONIC AD AT THE BOTTOM OF THE SCREEN THE MAIN MUSIC BOARD TELLS ME TONY BENNETT WILL BE VISITING PRODIGY SOON TO ANSWER QUESTIONS SENT BY ELECTRONIC MESSAGE I'M LOOKING FOR SOMETHING MORE CONTEMPORARY SO I SELECT CLASSIC ROCK FROM A LIST OF TOPICS I ENTER A NEW SUBTOPIC STEELY DANCONCERT OK ALONG WITH A NOTE ASKING FOR INFORMATION AMERICA ONLINE USES A FEW COMPUTERIZED VOICE MESSAGES SO ONCE MY MODEM CONNECTS I HEAR A CHIPPER VOICE SAY WELCOME FOLLOWED BY YOU'VE GOT MAIL I HAVE TWO ITEMS OF EMAIL THE FIRST IS A HELLO NOTE FROM MY WIFE VIA HER EDUCATIONAL ACCOUNT AT THE UNIVERSITY OF PENNSYLVANIA THIS NOTE CAME THROUGH THE INTERNET THE VAST WEB OF UNIVERSITY AND CORPORATE COMPUTERS SINCE MY WIFE IS IN THE NEXT ROOM I DON'T THINK I'LL BOTHER WRITING BACK JUST NOW THE SECOND NOTE IS FROM MY COLLEGE ROOMMATE NOW A GRADUATE STUDENT AT CORNELL A COMPUTERSCIENCE STUDENT HE'S A DEVOTED EMAIL USER HE TELLS ME ABOUT HIS NEW APARTMENT AND BRINGS ME UPTODATE ON OTHER EVENTS TYPE TO YOU LATER HE CONCLUDES THE WEATHER SECTION ALSO OFFERS SATELLITE WEATHER MAPS IN THE FORM OF GRAPHICS FILES THAT I CAN DOWNLOAD AND THEN VIEW ON MY COMPUTER USING A SPECIAL PROGRAM IT TAKES SIX MINUTES FOR AMERICA ONLINE TO TRANSMIT THE SATELLITE MAP TO MY COMPUTER SURE ENOUGH IT LOOKS CLOUDLESS OVER NEW YORK AND NEW JERSEY IDAHO AND WYOMING LOOK PRETTY BAD THOUGH IN ADDITION TO A GROUP DISCUSSION OF VARIOUS ARCANE STAR TREK SUBJECTS AND STAR TREKRELATED FICTION WRITTEN BY FANS THERE'S A MONTHLY ELECTRONIC NEWSLETTER DEVOTED TO THE SERIES I DOWNLOAD THE NEWSLETTER INTO MY COMPUTER AS WELL AS A LIST OF NEW STAR TREK THE NEXT GENERATION AND STAR TREK DEEP SPACE NINE EPISODES FOR THE FALL I FORGO THE CHANCE TO EMAIL THE WHITE HOUSE AND BROWSE AROUND A BIT MORE UNDER BUDGET I FIND A SERIES OF TEXT FILES INCLUDING A TRANSCRIPT OF PRESIDENT CLINTON'S AUG 3 BUDGET ADDRESS IT'S A LONG FILE I MIGHT READ IT SOMETIME BUT NOT WHILE THE METER IS RUNNING ON AMERICA ONLINE I STORE IT IN MY COMPUTER FOR LATER ENJOYMENT I EXCHANGE PLEASANTRIES WITH THE LOBBY DENIZENS BEFORE INSPECTING THE LIST OF CHAT ROOMS AVAILABLE I PASS UP FLIRTS' NOOK AND TEEN CHAT IN FAVOR OF AUTHORS' CAFE THERE ARE 17 PEOPLE HERE AND THE CONVERSATION IS PRETTY CONFUSING THESE PEOPLE EITHER ALL KNOW ONE ANOTHER OR ARE ACCUSTOMED TO FOLLOWING SIX CONVERSATIONS AT ONCE SUDDENLY I'M NOT FEELING VERY CHATTY IN FACT I'M A LITTLE INTIMIDATED IT'S SORT OF LIKE BEING IN A ROOM FULL OF PEOPLE AND KNOWING THAT ANYTHING I SAY WILL BE HEARD BY EVERY PERSON THE DISCUSSION TURNS TO TOM CLANCY AND HIS LATEST NOVEL SOMEONE ALLEGES TO HAVE MET CLANCY ONLINE BUT MOST OF THE TALK IS IDLE CHITCHAT AND TEASING AND AN EXTRAORDINARY AMOUNT OF TIME IS TAKEN UP JUST BY THE ENDLESS HELLOS AND GOODBYES FROM THE STORE DIRECTORY I ASK TO SEE WHAT COMPACT DISKS ARE FOR SALE THERE'S A NEW RELEASE BY THE IRISH GROUP CLANNAD I CLICK ON IT TO GET A DESCRIPTION AND PRICE IT SELLS FOR 1481 PROBABLY SLIGHTLY MORE THAN I WOULD PAY IN A STORE THEN AGAIN I'M SITTING COMFORTABLY IN MY HOUSE THE COMPUTER ALSO TOUTS THE LATEST FROM OZZY OSBOURNE OVER 112 MINUTES OF PURE OZZY IT SAYS I ATTEMPT TO SEARCH FOR A FEW HARDTOFIND CDS THAT I HAVE BEEN LOOKING FOR NO LUCK STILL I'M IN THE MOOD TO BUY MAYBE COMPUSERVE HAS SOME DIFFERENT SHOPPING SERVICES FINALLY I PAGE DOWN TO THE MUSIC SHOPPING AREA ONCE AGAIN I TRY TO SEARCH FOR A CD SUDDENLY THE COMPUTER IS ASKING FOR MY CREDITCARD NUMBER I'VE MADE A WRONG TURN SOMEWHERE AND I CAN'T GET OUT OF THIS AREA WITHOUT GIVING A CREDITCARD NUMBER SO I RESORT TO BRUTE FORCE AND TURN OFF THE MODEM TO CUT THE CONNECTION I LOG BACK ON AND TRY AGAIN IT'S WORKING BETTER NOW THE SYSTEM COVERS 75000 ALBUMS BUT I CAN BROWSE ONLY THE TOP 5000 ONLINE TO HAVE ACCESS TO THE REST I NEED A 6 CATALOG WHICH I CAN ONLY GET BY MAIL I DECIDE TO PURCHASE THE NEW REM ALBUM AS WELL AS THE CATALOG THEN I FIND OUT THAT SHIPPING TIME IS TWO TO THREE WEEKS I COULD BE AT THE RECORD STORE AND BACK IN 15 MINUTES STILL I ORDER THE CATALOG BUT BEFORE REQUESTING THE LENGTHY GRAPHICS FILE I TERMINATE MY SLOWSPEED CONNECTION TO COMPUSERVE AND LOG BACK ON AT 9600 BAUD THE HIGHEST SPEED OFFERED THE SLOWER SPEED IS BILLED AT A LESS EXPENSIVE RATE PER MINUTE SO I HAD BEEN USING IT TO MEANDER AROUND NOW THAT I KNOW I'M RETRIEVING A LARGE FILE I OPT FOR THE MORE EXPENSIVE HIGHSPEED RATE TO HURRY THINGS ALONG THIS IS ALL GETTING A LITTLE STRANGE I NEED A BREAK I LOG BACK ON AT THE SLOWER SPEED AND HEAD FOR THE VIDEOGAME SECTION TO PLAY ON THE IMAGINATION NETWORK YOU FIRST NEED TO CREATE AN ONLINE PERSONA AND NICKNAME BY CHOOSING FROM DIFFERENT HAIR STYLES SKIN COLORS AND FACIAL FEATURES YOU MAKE A CARTOON STANDIN FOR YOURSELF THAT WILL BE SEEN BY OTHERS ON THE NETWORK I'VE ALREADY SET ONE UP TOMW A BLANDLOOKING SANDYHAIRED GUY IN A RUGBY SHIRT THE MODEM BEEPS INTO ACTION AND I'M PRESENTED WITH AN AMUSEMENT PARKSTYLE MAP DEPICTING THE DIFFERENT LANDS ON THE NETWORK I SELECT THE ONE WITH ARCADE GAMES BECAUSE THIS IS AN AREA FOR THE KID IN ALL OF US I NEED TO CREATE A KIDSTYLE PERSONA IN PLACE OF MY STANDARD ONE I ASSEMBLE TOMMYW A YOUNGER VERSION OF MYSELF SPORTING A GOOFY GRIN A FELLOW PLAYER NAMED DAV SOON ASKS ME TO JOIN HIM MY SCREEN SWITCHES TO A COCKPIT VIEW FROM MY WORLD WAR I FIGHTER I PUT THE PLANE INTO A SHARP TURN LOOKING FOR THE ENEMY OOPS TOO LOW I CRASH THE COMPUTER GENERATES A NEW AIRPLANE FOR ME AND I'M ON MY WAY AGAIN PLENTY OF MACHINEGUNNING ENSUES I'M WOUNDED MY SCREEN BEGINS TO FADE TO A RED BLUR SIGNIFYING MY DESCENT INTO UNCONSCIOUSNESS DAV SENDS ME A MESSAGE NICE CRASH THE IS A SIDEWAYS SMILEY FACE MEANT TO TAKE ANY STING OUT OF HIS TYPED MESSAGE MERCIFULLY SOMEONE NAMED ANKLES SOLICITS ME FOR A GAME OF POKER ALONG WITH THREE OTHER PEOPLE AS WE WAIT FOR THE GAME TO BEGIN WE CHAT MOSTLY ABOUT WHERE EACH OF US LIVES AND WHAT THE WEATHER IS LIKE FOR EACH PERSON PLAYING A CARTOON PERSONA APPEARS AT THE POKER TABLE TO BEGIN THE SEARCH I TYPE HELENA BONHAM CARTER THE COMPUTER RESPONDS BY TELLING ME THAT 267 DOCUMENTS CONTAIN THAT PHRASE MAYBE THE NAME IS HYPHENATED I TRY HELENA BONHAMCARTER THIS TIME I GET 116 DOCUMENTS OBVIOUSLY THERE'S SOME CONFUSION IN THE PUBLISHING WORLD ABOUT THE HYPHENATION I COMBINE THE TWO SEARCHES 380 DOCUMENTS TOO MANY TO READ SO I RESTRICT THE SEARCH TO ITEMS PUBLISHED IN 1993 THE COMPUTER GRINDS AWAY FOR A MOMENT 248 DOCUMENTS STILL TOO MANY I REQUEST HEADLINES ONLY FOR THE FIRST 100 DOCUMENTS AND KEEP MY EYES PEELED FOR A RECENT PROFILE THAT WOULD BE LIKELY TO TELL ME WHAT MOVIE MS CARTER IS WORKING ON NOW DOCUMENT NO 14 LOOKS GOOD SO I REQUEST THE ENTIRE DOCUMENT SURE ENOUGH IT TELLS ME THAT MS CARTER'S NEXT MOVIE WILL BE MARY SHELLEY'S FRANKENSTEIN DIRECTED BY KENNETH BRANAGH NOW TO CHECK SOME AIRFARES WE'VE BEEN TALKING ABOUT A TRIP TO HAWAII SO I SEARCH FOR THE CHEAPEST FARES THERE THE GENERATION X TITLE SCREEN APPEARS COMPLETE WITH QUOTE O' THE DAY TAKEN FROM A RERUN OF THE PARTRIDGE FAMILY THE QUOTE TRACY GET THAT DRUMSTICK OUT OF YOUR NOSE YOU DON'T KNOW WHERE IT'S BEEN THERE ARE 359 DIFFERENT DISCUSSION TOPICS IN THE GENERATION X SECTION AMONG THEM A DEBATE ABOUT WHETHER BARNEY THE DINOSAUR IS DESTROYING THE YOUTH OF TODAY AND A DISCUSSION ABOUT WILMA AND BETTY OF THE FLINTSTONES THE LATTER HAS 98 ENTRIES A SAMPLE PERSON 1 ONE OF THE THINGS I LIKE ABOUT WILMA IS SHE'S NOT THE ONE YOU'RE SUPPOSED TO DROOL OVER BETTY IS THE OBVIOUS SEXPOT I RARELY GO FOR THE OBVIOUS SEXPOT PLUS WILMA SEEMS TO HAVE MORE OF A HEAD ON HER SHOULDERS FRED OF COURSE IS A LOVE GOD BUT BARNEY IS DARN SENSITIVE AND THAT'S WHAT BETTY LIKES ABOUT HIM PERSON 2 I NEVER REALIZED THAT THEY HAD PUT SUCH INCREDIBLE DEPTH INTO THESE CHARACTERS NO WONDER PEBBLES BECAME A ROCK STAR PERSON 3 THIS HAS BEEN DISCUSSED AT LENGTH ELSEWHERE BUT IT SEEMS APPROPRIATE TO MENTION HERE THAT YOU CAN GO THROUGH A WHOLE BOTTLE OF FLINTSTONES VITAMINS WITHOUT COMING ACROSS A SINGLE BETTY THERE'S A NEWSPAPER STORY IN THE FINANCIAL POST OF CANADA THAT I'VE BEEN MEANING TO DIG UP THE COMPUTER TELLS ME THAT PRINCETON'S LIBRARY CARRIES THE NEWSPAPER AS LONG AS I'M LOOKING WITHIN THE PAST TWO YEARS NO RESPONSES ON PRODIGY WHERE IS EVERYONE ONCE AGAIN COMPUSERVE IS THE MORE SUCCESSFUL VENUE A FEW MORE USERS THERE HAVE LOGGED RESPONSES ONE REFERS ME TO A MAGAZINE ARTICLE ABOUT THE BAND ANOTHER MENTIONS A REVIEW OF THE CONCERT MAYBE I'LL HAVE MORE LUCK IN THE LAS VEGAS ROOM I GREET EVERYONE AND WAIT TO SEE WHAT HAPPENS WILL ANYONE PLAY A GAME WITH ME WILL ANYONE HIT ON ME THIRTY SECONDS LATER A WOMAN INQUIRES ABOUT MY SEXUAL PREFERENCES AT LEAST I THINK SHE'S A WOMAN SHE THINKS I'M A WOMAN BUT I'M NOT WHO KNOWS WHAT ANYONE HERE IS UNABLE TO RESOLVE THE PHILOSOPHICAL ISSUES INVOLVED I BEAT A HASTY RETREAT TO THE ARCADE SECTION ONCE THERE I TRY TO GET SOME PLAYERS TOGETHER FOR A ROUND OF RED BARON SEVERAL PEOPLE VOICE INTEREST BUT THEN THEY DISAPPEAR IS IT MY ELECTRONIC COLOGNE MR WEBER IS A REPORTER FOR THE DOW JONES NEWS SERVICE 9311150068 931115 BUSINESS BRIEF SHL SYSTEMHOUSE INC FIRM TO POST OPERATING LOSS FOR FISCAL FOURTH QUARTER SHL SYSTEMHOUSE INC OTTAWA SAID IT EXPECTS TO REPORT AN OPERATING LOSS FOR ITS FISCAL FOURTH QUARTER ENDED AUG 31 THE COMPUTERSERVICES COMPANY DIDN'T INDICATE THE SIZE OF THE ANTICIPATED LOSS IT ATTRIBUTED THE SHORTFALL PARTLY TO DELAYS IN SIGNING AND STARTING WORK ON MAJOR CONTRACTS SYSTEMHOUSE ALSO SAID IT EXPECTS TO RECORD A MAJOR RESTRUCTURING CHARGE OF MORE THAN 135 MILLION CANADIAN DOLLARS US1027 MILLION IN THE FOURTH QUARTER THE COMPANY'S FOURTHQUARTER FINANCIAL RESULTS ARE DUE OUT AT THE END OF NOVEMBER IN THE 1992 FOURTH QUARTER SYSTEMHOUSE HAD A NET LOSS OF C74 MILLION OR 18 CANADIAN CENTS A SHARE ON REVENUE OF C1904 MILLION SYSTEMHOUSE ALSO SAID IT APPOINTED PAUL DAMP 38 YEARS OLD PRESIDENT AND CHIEF OPERATING OFFICER MR DAMP WAS PREVIOUSLY VICE CHAIRMAN AND CHIEF FINANCIAL OFFICER HE WILL SUCCEED JAMES BURNS 46 WHO WAS APPOINTED SYSTEMHOUSE'S VICE CHAIRMAN WITH RESPONSIBILITY FOR BUSINESS DEVELOPMENT MR DAMP WILL CONTINUE TO SERVE AS CHIEF FINANCIAL OFFICER UNTIL A REPLACEMENT IS FOUND 9311150065 931115 COMMODITIES COMMODITY PRICES CALM CONCERNS ABOUT INFLATION BY JEFFREY TAYLOR STAFF REPORTER OF THE WALL STREET JOURNAL IF YOU'RE WORRIED THAT THE PEPPIER US ECONOMY IS GOING TO BRING INFLATION ROARING BACK LISTEN TO THE MESSAGE OF THE COMMODITY MARKETS DON'T WORRY ECONOMISTS AND MARKET STRATEGISTS USE COMMODITY PRICES AS AN EARLY WARNING SIGNAL FOR INFLATION ESPECIALLY PRICES OF PRECIOUS METALS AND THE OVERALL PERFORMANCE OF THE SOCALLED JOURNAL OF COMMERCE INDEX OF 18 RAW INDUSTRIAL COMMODITIES TO BE SURE THE PRICES OF MANY COMMODITIES HAVE LEVELED OFF THIS YEAR AFTER TWO YEARS OF DEEP SLUMPS AS THE US ECONOMY HAS PICKED UP STEAM BUT COMMODITY PRICES AREN'T STAGING THE SUSTAINED ACROSSTHEBOARD RALLIES THAT PROBABLY WOULD PREVIEW ANY MEANINGFUL INCREASE IN INFLATION ECONOMISTS SAY THE MESSAGE IS QUITE CLEAR THERE IS NO INFLATION TREND IN SIGHT SAYS ANIRVAN BANERJI RESEARCH ECONOMIST AT COLUMBIA UNIVERSITY'S CENTER FOR INTERNATIONAL BUSINESS CYCLE RESEARCH COMMODITY PRICES SUGGEST CONTINUED GROWTH AT THE PRESENT LEVEL WITH NO INDICATION THAT ECONOMIC ACTIVITY WILL GET STRONGER OR WEAKER THE JOURNAL OF COMMERCE INDEX A FAVORITE INDICATOR OF MANY ECONOMISTS HAS ACTUALLY MOVED LOWER IN THE PAST FEW MONTHS THE COMMODITY RESEARCH BUREAU INDEX OF 21 COMMODITY FUTURES CONTRACTS AFTER MONTHS OF RELATIVELY FLAT PERFORMANCE ROSE LAST WEEK ON THE STRENGTH OF GRAIN PRICES ON THURSDAY THE CRB INDEX SETTLED AT 22229 NEAR ITS 1993 HIGH OF 22346 BUT ON FRIDAY THE INDEX RETREATED AGAIN COPPER AND LUMBER TWO ECONOMICALLY SENSITIVE INDUSTRIAL COMMODITIES ALSO FAIL TO YIELD CONCLUSIVE EVIDENCE OF SUSTAINED ECONOMIC GROWTH ALTHOUGH LUMBER HAS POSTED IMPRESSIVE PRICE GAINS LATELY REFLECTING THE STRENGTH OF THE US HOUSING INDUSTRY COPPER IS LANGUISHING NEAR ITS 1993 LOWS EVEN GOLD BUGS WHO HAVE SPARKED PRECIOUSMETALS RALLIES RECENTLY BY ENTHUSIASTICALLY BUYING GOLD FUTURES CONTRACTS DON'T VIEW THEIR MARKET'S RECENT GAINS AS INDICATIVE OF INFLATION FOR EXAMPLE ANALYSTS SAY A STRONG RALLY IN GRAIN PRICES LAST WEEK AFTER THE US AGRICULTURE DEPARTMENT REDUCED ITS CORNCROP ESTIMATE DID NOTHING TO STIMULATE PRECIOUSMETALS PRICES AS IT PROBABLY WOULD HAVE DONE IF INFLATION WERE PRESENT IN THE ECONOMY COMMODITY MARKETS INCLUDING THE PRECIOUS METALS ARE ANTICIPATING THAT THE ECONOMIC AND INFLATION CYCLES HAVE BOTTOMED OUT BUT THERE IS STILL NO HARD EVIDENCE OF INFLATION SAYS WILLIAM O'NEILL CHIEF FUTURES STRATEGIST FOR MERRILL LYNCH & CO ONE REASON FOR THE RELATIVELY WEAK PERFORMANCE OF COMMODITY PRICES IS THE FACT THAT THE ECONOMIES OF EUROPE AND JAPAN AREN'T KEEPING PACE WITH THE US ECONOMY WITH THE EXCEPTION OF LUMBER WHOSE PRICE PERFORMANCE CORRELATES CLOSELY WITH THE US HOUSING INDUSTRY'S FORTUNES COMMODITY PRICES TEND TO REFLECT THE STATE OF THE GLOBAL RATHER THAN THE NATIONAL ECONOMY WE HAVE AN UNUSUAL SITUATION NOW WHERE THERE ARE CLEAR SIGNS THE US ECONOMY IS PICKING UP AND YET WE'RE NOT GETTING ANY SIGNS OF THAT IN COMMODITY PRICES SAYS EDWARD C YARDENI CHIEF ECONOMIST AT CJ LAWRENCE & CO THAT'S BECAUSE THE US IS WAY AHEAD OF MOST OTHER INDUSTRIAL ECONOMIES IN THE BUSINESS CYCLE PERHAPS MOST CONSPICUOUS IS THE ABYSMAL PERFORMANCE OF INDUSTRIAL OR BASE METALS SUCH AS COPPER NICKEL ALUMINUM LEAD AND ZINC UNLIKE PRECIOUS METALS WHOSE PRICES CAN RISE SOLELY BECAUSE OF A SURGE IN DEMAND FROM GOLD INVESTORS BASE METALS RELY ON PHYSICAL DEMAND FROM STEELMAKERS AND OTHER INDUSTRIES IN A SORRY COMMENTARY ON THE STATE OF THE GLOBAL ECONOMY BASE METALS PRICES HAVE BEEN FALLING STEADILY FOR YEARS SOME OF THEM HAVE BOTTOMED OUT IN THE PAST COUPLE OF MONTHS BUT THEY ARE HARDLY STAGING THE KINDS OF RALLIES THAT WOULD ACCOMPANY A MAJOR ECONOMIC RECOVERY WITH MOST OF THE BASE METALS WE'VE SEEN THE LOWS OF THE CYCLE SAYS TED ARNOLD METALS SPECIALIST FOR MERRILL LYNCH BUT THAT DOESN'T MEAN IT'S GOING TO BE GANGBUSTERS FROM HERE ON OUT AT THE MOMENT MR ARNOLD SAYS THE WORLD IS FLOODED WITH AVAILABLE SUPPLIES OF INDUSTRIAL METALS STOCKS OF BASE METALS ARE MEASURED IN TERMS OF THE NUMBER OF WEEKS OF GLOBAL CONSUMPTION IT WOULD TAKE TO EXHAUST THEM IF NO NEW SUPPLIES ENTERED THE MARKET SIX OR SEVEN WEEKS IS ABOUT THE AVERAGE THIS YEAR FOR THE FIRST TIME IN RECENT MEMORY THIS GAUGE OF WEEKSTOAVAILABLESTOCKS HAS BEEN IN DOUBLE DIGITS FOR MOST INDUSTRIAL METALS FOR EXAMPLE IT WOULD TAKE MORE THAN 18 WEEKS TO EXHAUST AVAILABLE STOCKS OF NICKEL AND ABOUT 15 WEEKS TO GO THROUGH ALL STOCKS OF ALUMINUM MR ARNOLD SAYS MOREOVER THE PRICES OF SUCH BASE METALS AS COPPER AND ALUMINUM ARE NOW HIGHER IN THE US THAN IN EUROPE THIS SAYS FRED DEMLER METALS ECONOMIST FOR ED& F MAN IS A HIGHLY UNUSUAL SITUATION THAT REFLECTS THE WEAKNESS OF THE EUROPEAN ECONOMY MORE EVIDENCE OF THE ABSENCE OF COMMODITYPRICE INFLATION ECONOMISTS SAY CAN BE FOUND IN THE LOW PRICE OF CRUDE OIL ANOTHER ECONOMICALLY SENSITIVE INDUSTRIAL COMMODITY CRUDE IS HOVERING NEAR 16 A BARREL WELL BELOW ITS 20ABARREL PRICE A YEAR AGO AND SOME ANALYSTS SAY PETROLEUM PRICES ARE LIKELY TO CONTINUE TO DECLINE BECAUSE OF WEAK ECONOMIC GROWTH IN EUROPE AND THE POSSIBILITY THAT IRAQ MAY RETURN TO THE OIL MARKET AS A SUPPLIER JOHN LIPSKY CHIEF ECONOMIST FOR SALOMON BROTHERS SAYS THE LIKELIHOOD OF CONTINUING WEAKNESS IN PETROLEUM PRICES IS AMONG A NUMBER OF FUNDAMENTAL FACTORS THAT WILL CONTINUE TO PUT A DAMPER ON COMMODITY PRICE INFLATION IN COMING MONTHS 9311150063 931115 MANAGER'S JOURNAL QUALITY STANDARDS THAT CAN DESTROY QUALITY BY DAVID KENNEY CUSTOMERS AROUND THE WORLD INCREASINGLY ARE ASKING SUPPLIERS IF THEY'VE BEEN CERTIFIED UNDER ISO 9000 A SERIES OF QUALITY STANDARDS FROM THE INTERNATIONAL STANDARDS ORGANIZATION MANY CUSTOMERS SEE ISO 9000 AS ASSURANCE THAT THE SUPPLIER SELLS QUALITY PRODUCTS A GROWING NUMBER OF CUSTOMERS ARE GOING AN EXTRA STEP REQUIRING ISO CERTIFICATION BEFORE THEY'LL SIGN TH A VENDOR SO IT MAKES GREAT SENSE FOR MANUFACTURERS TO AT LEAST CONSIDER APPLYING FOR CERTIFICATION UNDER ISO WE DID AND ACCORDING TO ONE OF OUR SENIOR PROJECT MANAGERS IT NEARLY DESTROYED OUR COMPANY ISO 9000 INCLUDES THREE STANDARDS ISO 9001 THE MOST COMPREHENSIVE COVERS THE DESIGN MANUFACTURE INSTALLATION AND SERVICING OF A COMPANY'S PRODUCTS MY COMPANY WHICH MAKES TELECOMMUNICATIONS EQUIPMENT AIMED FOR THIS HIGHEST LEVEL AS A RESULT WE NEEDED TO DOCUMENT QUALITYRELATED PROCEDURES USED THROUGHOUT OUR COMPANY ONE AREA WE DOCUMENTED WAS OUR PROCESS FOR PRODUCT INTRODUCTIONS MOST CORPORATIONS HAVE AN APPROACH TO SUCH INTRODUCTIONS THAT INCLUDES SEVERAL PHASES SUCH AS PRODUCT PROPOSAL PLANNING DEVELOPMENT VERIFICATION AND RELEASE ISO 9001 TAKES A SIMILAR PHASED APPROACH REQUIRING THAT YOU SEPARATE AND SEPARATELY DOCUMENT YOUR DESIGN INPUT DESIGN PROCESS DESIGN OUTPUT AND DESIGN VERIFICATION TO DOCUMENT OUR PRODUCT INTRODUCTION PROCESS FOR ISO THE COMPANY ASSEMBLED A CORE TEAM OF THREE MANAGERS INCLUDING MYSELF WHO WORKED FOR FOUR MONTHS WE PRODUCED A 100PAGE DOCUMENT THAT DESCRIBED IN EXCRUCIATING DETAIL THE ACTIVITIES NEEDED TO BRING A PRODUCT FROM FIRST CONCEPT THROUGH FIRST SHIPMENT TO THE CUSTOMER THE REPORT REQUIRED PROJECT MANAGERS TO TRACK VERIFY AND DOCUMENT MORE THAN 50 ITEMS ACROSS EIGHT PHASES OF THE PRODUCT INTRODUCTION PROCESS INCLUDING COMPLETION OF HARDWARE/SOFTWARE INTERFACE SPECIFICATIONS REGULATORY REQUIREMENTS A VERIFICATION TEST PLAN A DESIGNFORMANUFACTURABILITY CHECK LIST AND THE MATCHING OF CRITICAL COMPONENTS TO CIRCUITRY A SIXPART PROCESS BY ITSELF WE PUT THIS PROCEDURE TO THE TEST DURING THE INTRODUCTION OF A COMPLEX TELECOMMUNICATIONS PRODUCT NEAR THE END OF THE INTRODUCTION TO OUR SHOCK THE SENIOR PROJECT MANAGER CAME TO THE ISO TEAM READY TO QUIT IN FRUSTRATION HE WAS CONVINCED THAT CONTINUING TO FOLLOW OUR REQUIREMENTS WOULD LEAD TO THE DEMISE OF THE COMPANY WE OFFERED TO HELP COMPLETE THE DOCUMENTATION IT WAS A NIGHTMARE WE SOON REALIZED THAT MUCH OF THE PROCESS HAD NOT EVEN BEEN FOLLOWED REQUIRING US TO START OVER AS ONE OF THE MANAGERS TOLD US WE DIDN'T FOLLOW YOUR NEW PRODUCT INTRODUCTION PROCESS BECAUSE IF WE HAD THE PROJECT WOULD HAVE BEEN DELAYED BY MONTHS IF WE HAD TWICE THE PEOPLE WE COULDN'T HAVE FOLLOWED THIS MONSTROSITY OUR ISO TEAM QUICKLY RECONVENED AND WITHDREW THE 100PAGE DOCUMENTATION PROCEDURE REAPPLYING OUR PREVIOUS POLICIES ON A TEMPORARY BASIS THEN THE TEAM ANALYZED OUR FAILURE WE HAD NOT INCLUDED THE RIGHT PEOPLE IN THE DESIGN OF THE PROCEDURES WE NEEDED MORE INVOLVEMENT FROM ENGINEERING AND MANUFACTURING PERSONNEL AND LESS FROM CORPORATE MANAGERS MORE IMPORTANT WE HAD NOT CONSIDERED OUR COMPANY'S SITUATION WE ARE A SMALL MARKETLEADING COMPANY WITH 250 EMPLOYEES WE NEEDED FLEXIBLE QUICKLY IMPLEMENTED PROCEDURES THE OPPOSITE OF WHAT WE HAD CREATED IN OUR ATTEMPT TO PLEASE ISO'S AUDITORS ARMED WITH THESE CONCLUSIONS WE RESTRUCTURED THE NEW PRODUCT INTRODUCTION PROCESS TO INCLUDE DECENTRALIZATION OF RESPONSIBILITIES AND A FLEXIBLE APPROACH TO PROJECT MANAGEMENT WE CREATED A TOPLEVEL DOCUMENT CALLED LEVEL 2 IN ISO 9000 LANGUAGE THAT DESCRIBED THE OVERALL PRODUCT INTRODUCTION PROCESS THIS 12PAGE DOCUMENT REDUCED FROM THE 100PAGE BEHEMOTH WE FIRST DEVISED COVERED THE PHASED APPROACH TO DESIGN THE NATURE OF MILESTONE REVIEWS TO MEET ISO 9001 REQUIREMENTS THE ROLE OF PROJECT MANAGERS THE ROLE OF CORE TEAMS AND THE ROLES OF SUPPORTING ORGANIZATIONS TOTAL DOCUMENTATION REQUIREMENTS WERE CUT BY MORE THAN HALF THE DOCUMENTATION REQUIREMENTS FOR HARDWARE RELEASE MILESTONES FOR EXAMPLE SHRANK FROM THREE PAGES TO LESS THAN HALF A PAGE IN SHAPING OUR ISO DOCUMENTATION TO FIT OUR PRODUCT INTRODUCTION NEEDS OUR CHALLENGE WAS TO ACCOMMODATE ISO'S REQUIREMENTS WITHOUT CREATING SEPARATE SPECIAL PROCESSES FOR PRODUCT UPGRADES BUG FIXES AND NEW PRODUCTS WHICH COULD SLOW OUR ABILITY TO QUICKLY MODIFY MANUFACTURING AS LONG AS WE DOCUMENTED THE DECISIONS WE MADE WE HAD NO PROBLEM COMPLYING WITH ISO 9001 REQUIREMENTS ARMED WITH OUR NEW MARKET CONSCIOUS APPROACH WE COMPLETED THE DOCUMENTATION FOR ISO 9001 AND THIS YEAR WE BECAME ONE OF THE FIRST IN THE TELECOMMUNICATIONS EQUIPMENT INDUSTRY TO EARN ISO 9001 REGISTRATION AS A RESULT WE'VE GAINED MAJOR NEW CUSTOMERS ESPECIALLY INTERNATIONAL ONES PROVING THAT CERTIFICATION UNDER ISO 9001 CAN BE A COMPETITIVE ADVANTAGE HOWEVER ONE MUST NOT MAKE THE MISTAKE WE FIRST DID BY ISOLATING ISO FROM MARKETDRIVEN CONSIDERATIONS MR KENNEY IS DIRECTOR OF QUALITY AT ADC KENTROX HE IS ALSO AN EXAMINER FOR THE MALCOLM BALDRIGE NATIONAL QUALITY AWARDS 9311150062 931115 BUSINESS BRIEF CHRYSLER CORP SALE OF LAMBORGHINI OF ITALY TO INDONESIANS IS ARRANGED CHRYSLER CORP IS SET TO ANNOUNCE THE SALE OF AUTOMOBILI LAMBORGHINI SPA TO A GROUP OF INDONESIAN BUSINESSMEN SETIAWAN DJODY A BUSINESSMAN WHO PUT TOGETHER THE DEAL TOLD AN INDONESIAN NEWSPAPER HE HAD SIGNED A CONTRACT WITH CHRYSLER TO ACQUIRE THE ITALIAN SPORTS CAR MANUFACTURER MR DJODY IS PART OF A GROUP ATTEMPTING TO ACQUIRE LAMBORGHINI AS PREVIOUSLY REPORTED THAT GROUP INCLUDES HUTOMO MANDALA PUTRA A SON OF INDONESIA'S PRESIDENT SUHARTO IN ADDITION TO PRODUCING SPORTS CARS LAMBORGHINI OWNS AN ENGINEERING SUBSIDIARY THAT MAKES FORMULA 1 RACECAR ENGINES CHRYSLER EXECUTIVES PREVIOUSLY CONFIRMED THAT THE AUTO MAKER WAS NEGOTIATING THE SALE OF LAMBORGHINI WITH A GROUP OF INDONESIAN BUSINESSMEN ON FRIDAY THEY SAID THAT A FORMAL ANNOUNCEMENT OF THE SALE PROBABLY WILL BE MADE THIS WEEK NO DETAILS WERE AVAILABLE 9311150061 931115 WHAT'S NEWS WORLDWIDE THE WHITE HOUSE ASSERTED IT NEEDS ONLY A DOZEN MORE PRONAFTA VOTES US TRADE REPRESENTATIVE KANTOR SAID THE ADMINISTRATION WAS WITHIN STRIKING DISTANCE OF THE REQUIRED NUMBER OF HOUSE VOTES HE PREDICTED THAT WHEN THE VOTE IS TAKEN WEDNESDAY ON THE TRADE PACT WITH MEXICO AND CANADA WE'LL WIN BUT MICHIGAN DEMOCRAT BONIOR A NAFTA OPPONENT CONTENDED THAT HIS SIDE ALREADY HAS A NARROW MAJORITY OF HOUSE MEMBERS WHO PLAN TO VOTE AGAINST THE PACT TO ATTRACT MORE GOP VOTES CLINTON MADE AN EXTRAORDINARY PLEDGE TO PUBLICLY DEFEND REPUBLICANS WHO COME UNDER ATTACK IN NEXT YEAR'S REELECTION CAMPAIGNS FOR THEIR PRONAFTA VOTES PUERTO RICAN VOTERS DEFEATED AN ATTEMPT TO SEEK STATEHOOD SUPPORTERS OF CONTINUED COMMONWEALTH STATUS PREVAILED OVER THOSE WHO WANTED STATEHOOD TURNING BACK THE STRONGEST MOVEMENT THIS CENTURY FOR FULL UNION WITH THE US THE PEOPLE SPOKE AND I WILL OBEY THEM SAID GOV ROSSELLO WHO SOUGHT STATEHOOD COMMONWEALTH BACKERS CLAIMED THE ISLAND'S CULTURE MIGHT BE LOST IN STATEHOOD AND NOTED THAT BECOMING A STATE WOULD MEAN PUERTO RICANS WOULD PAY FEDERAL TAXES ACCORDING TO INCOMPLETE OFFICIAL RETURNS COMMONWEALTH STATUS RECEIVED 485 OF THE VOTE STATEHOOD 46 AND INDEPENDENCE JUST OVER 4 VOTER TURNOUT WAS ABOUT 75 OFFICIALS SAID CHINA'S COMMUNIST PARTY CHIEFS VOWED TO SPEED UP THE TRANSITION TO A MARKET ECONOMY PAVING THE WAY FOR A SERIES OF ECONOMIC REFORMS NEXT YEAR A COMMUNIQUE ISSUED AT THE CONCLUSION OF A FOURDAY MEETING SAID THERE WILL BE CHANGES IN BANKING TAXATION INVESTMENT AND FOREIGN TRADE ISRAEL ACCEPTED THE PLO'S CONDEMNATION OF THE KILLING OF A JEWISH SETTLER BUT PRESSED PLO LEADER ARAFAT TO EXERT MORE CONTROL OVER RADICALS IN THE OCCUPIED LANDS MEANWHILE A SENIOR PLO OFFICIAL SAID THE GROUP WOULDN'T SIGN A PEACE ACCORD WITH ISRAEL NEXT MONTH UNLESS THE ISRAELIS PROMISE TO FREE THOUSANDS OF PALESTINIAN DETAINEES THE UN RUSHED IN DOCTORS AND SOLDIERS TO PROTECT TWO HOSPITALS IN CENTRAL BOSNIA WHERE HUNDREDS OF PATIENTS WERE THREATENED BY ADVANCING CROAT TROOPS UN OFFICIALS SAID THE 570 PATIENTS INCLUDING CHILDREN AND MENTALLY HANDICAPPED PEOPLE WERE LEFT TO FEND FOR THEMSELVES AFTER MOST OF THE REGULAR STAFF FLED IN RECENT DAYS GERMANY DEDICATED ITS FIRST NATIONAL MEMORIAL FOR VICTIMS OF WAR AND TYRANNY IN A BERLIN CEREMONY MARRED BY NOISY PROTESTS THE DEMONSTRATORS AN ALLIANCE OF LEFTISTS AND NAZI VICTIMS' GROUPS CRITICIZED THE SHRINE FOR NOT ADEQUATELY MAKING A DISTINCTION BETWEEN VICTIMS AND PERSECUTORS A FEDERAL PANEL DROPPED ITS FINDINGS OF SCIENTIFIC MISCONDUCT AGAINST EMBATTLED US AIDS RESEARCHER ROBERT GALLO THE ACTION CAME AFTER A DECADE OF WRANGLING BETWEEN US AND FRENCH SCIENTISTS OVER WHO DISCOVERED THE AIDS VIRUS GALLO SAID HE WILL REDOUBLE MY EFFORTS IN THE FIGHT AGAINST AIDS AND CANCER CALIFORNIA RESEARCHERS IDENTIFIED A PROTEIN CALLED A SUPERANTIGEN THAT THEY BELIEVE MAY SOMEDAY BOOST THE EFFECTIVENESS OF VACCINES AGAINST DEADLY BACTERIAL INFECTIONS ADDING A SUPERANTIGEN TO A VACCINE COULD HELP THE HUMAN BODY BUILD UP ITS IMMUNE DEFENSES ACCORDING TO THE SCIENTISTS BANDITS AMBUSHED A 14TRUCK CIVILIAN CONVOY NORTH OF MOGADISHU OVER THE WEEKEND KILLING 15 SOMALI DRIVERS AND WOUNDING 13 OTHERS BEFORE ESCAPING WITH 10 OF THE TRUCKS UN OFFICIALS SAID ITALIAN PEACEKEEPERS RECOVERED FOUR TRUCKS AND DETAINED FOUR SUSPECTED ATTACKERS A NICARAGUAN COURT FOUND AN EXSANDINISTA ARMY OFFICER GUILTY OF MURDERING THE PRESIDENT OF A GROUP SEEKING THE RETURN OF LANDS SEIZED BY THE SANDINISTAS DURING THEIR 11 YEARS IN POWER THE TRIAL WAS HELD IN ABSENTIA AND THE CONVICTED OFFICER FRANK IBARRA REMAINS AT LARGE ANDRES ESPINOSA OF MEXICO WON THE 24TH ANNUAL NEW YORK CITY MARATHON WITH A TIME OF 21004 GERMANY'S UTA PIPPIG WAS THE FASTEST WOMAN FINISHING IN 22624 DIED HR BOB HALDEMAN 67 PRESIDENT NIXON'S PROTECTIVE CHIEF OF STAFF WHO SERVED 18 MONTHS IN PRISON FOR COVERING UP THE WATERGATE BREAKIN FRIDAY IN SANTA BARBARA CALIF OF ABDOMINAL CANCER 9311150060 931115 BUSINESS BRIEF PRIME MEDICAL SERVICES INC PROFIT RISE OF 87 EXPECTED TO BE POSTED FOR 3RD QUARTER PRIME MEDICAL SERVICES INC AUSTIN TEXAS EXPECTS TO REPORT AN 87 INCREASE IN THIRDQUARTER NET INCOME TO ABOUT 11 MILLION OR ABOUT EIGHT CENTS A SHARE CHERYL MCLEOD CHIEF FINANCIAL OFFICER SAID IN THE YEAREARLIER PERIOD THE PROVIDER OF MEDICAL SERVICES EARNED 589000 OR FIVE CENTS A SHARE REVENUE IS ESTIMATED TO HAVE RISEN ABOUT 9 TO 59 MILLION FROM 54 MILLION A YEAR EARLIER SHE SAID THE RESULTS REFLECT A 34 INCREASE IN AVERAGE SHARES OUTSTANDING TO 145 MILLION FROM 108 MILLION THE YEAR BEFORE PRIME PLANS TO RELEASE ITS EARNINGS TODAY MS MCLEOD SAID THE IMPROVED EARNINGS ARE PRIMARILY THE RESULT OF THE ACQUISITION EFFECTIVE JULY 1 OF FOUR LITHOTRIPTER OPERATIONS PRIME HAD PREVIOUSLY OWNED ONLY ONE LITHOTRIPER SHE SAID LITHOTRIPTERS ARE DEVICES THAT USE SOUND WAVES TO BREAK UP KIDNEY STONES 9311150059 931115 LAW LEGAL BEAT LAWYERS STUDY PARENTING PLANS' AS A SOLUTION TO CUSTODY DISPUTES BY JUNDA WOO STAFF REPORTER OF THE WALL STREET JOURNAL GETTING PARENTS WHO SPLIT UP TO AGREE IN WRITING ON HOW TO RAISE THEIR CHILDREN MAY BE THE NEXT WAVE IN DIVORCE LAW WORKING GROUPS OF LAWYERS IN 26 STATES HAVE BEEN FORMED TO CONSIDER WHETHER SOCALLED PARENTING PLANS WOULD HELP SOLVE SOME OF THE CONTINUING PROBLEMS WITH CURRENT CHILDCUSTODY ARRANGEMENTS JUDGES PARENTS AND SOCIAL WORKERS HAVE LONG EXPRESSED UNHAPPINESS WITH THE TYPICAL JOINTCUSTODY OR SOLECUSTODY ARRANGEMENTS CRITICS SAY SUCH SETUPS LEND THEMSELVES TO PARENTAL MANEUVERING AT THE EXPENSE OF CHILDREN AND OFTEN LEAVE NONCUSTODIAL FATHERS WITH MINIMAL ROLES IN THEIR CHILDREN'S LIVES OUR CURRENT SOLUTIONS ARE SO SIMPLISTIC SAID ELLEN J EFFRON HEAD OF AN AMERICAN BAR ASSOCIATION PANEL THAT IS COORDINATING THE ATTORNEY STUDY GROUPS THERE'S NO CREATIVITY IN THIS WHOLE THING ONE MODEL THE WORKING GROUPS WILL LOOK AT IS WASHINGTON STATE'S SIXYEAROLD LAW MAKING THE FILING OF PARENTING PLANS A CONDITION OF A DIVORCE DECREE THE GROUPS ARE ALSO EXPECTED TO CONSIDER WHETHER NONMANDATORY USE OF SUCH PLANS MIGHT WORK BETTER THE AIM OF SUCH PLANS IS TO RESOLVE AS MANY CONFLICTS AS POSSIBLE IN ADVANCE AND IN WRITING REGARDLESS OF WHICH PARENT THE CHILD STAYS WITH MOST OF THE TIME WHERE WILL A CHILD SPEND THANKSGIVING IN 1997 THE PARENTING PLAN WOULD GIVE THE ANSWER IT WOULD ALSO SPECIFY WHICH PARENT WILL TAKE THE LEAD IN RELIGIOUS TRAINING EDUCATION AND HEALTH CARE ALONG WITH ANY ADDITIONAL MATTERS THE PARENTS WANT TO INCLUDE IN ONE CASE PARENTS HAVE EVEN AGREED THAT THEY WOULD DECIDE JOINTLY HOW OFTEN AND IN WHAT STYLE THEIR CHILD'S HAIR WOULD BE CUT THE WASHINGTON LAW AIMS TO RELY ON SUCH ADVANCE AGREEMENTS IN SHAPING POSTDIVORCE PARENTING RATHER THAN ON TRADITIONAL CONCEPTS SUCH AS CUSTODY AND VISITATION IN THE NEW DIVORCE LINGO A PARENT IS REFERRED TO AS A DECISION MAKER REGARDING A PARTICULAR PARENTING ISSUE AND A CHILD SPENDS RESIDENTIAL TIME WITH ONE PARENT OR ANOTHER THE LINGUISTIC CHANGES ARE INTENDED TO EMPHASIZE THAT THE PARENTS ARE RESPONSIBLE FOR CHILDREN BUT DO NOT WIN OR OWN THEM INDEED DIVORCING SPOUSES IN WASHINGTON AREN'T PERMITTED MERELY TO DESIGNATE WHO THE PRIMARY PARENT WILL BE INSTEAD MOTHERS AND FATHERS MUST STATE WHERE THE CHILDREN WILL STAY EACH DAY OF THE YEAR EVERY YEAR UNTIL THE CHILDREN ARE GROWN THIS IS LESS DAUNTING THAN IT SOUNDS BECAUSE PARENTS CAN WRITE DOWN FOR INSTANCE THAT WEEKENDS WILL BE ALTERNATED AND SO WILL HOLIDAYS SUPPORTERS SAY PARENTS MUST AT LEAST DISCUSS VISITATION DETAILS THAT THEY MIGHT HAVE LITIGATED LATER UNDER STANDARD MORE VAGUELY WORDED DIVORCE AGREEMENTS PARENTS ALSO HAVE TO AGREE BEFOREHAND ON A METHOD FOR RESOLVING ANY DISPUTES THAT ARISE PARENTS ARE NOW REPOSITIONED WHETHER THEY WANT TO BE OR NOT INTO THINKING ABOUT THE KIDS' BEST INTEREST SAID FAMILY LAWYER LOWELL HALVERSON WHO PRACTICES IN MERCER ISLAND WASH ONE VIRTUE OF THE PLANS IS THAT THEY SEEM TO HAVE ENCOURAGED FATHERS TO PLAY A GREATER PARENTAL ROLE ACCORDING TO A STUDY BY UNIVERSITY OF WASHINGTON LAW PROFESSOR JANE W ELLIS IN A REVIEW OF THE FIRST YEAR OF WASHINGTON'S PROGRAM PROF ELLIS FOUND THAT MOTHERS CONTINUED TO BE NAMED THE PRIMARY PARENT IN MOST CASES BUT FATHERS GOT AT LEAST SOME DECISIONMAKING POWER IN 73 OF CASES UP FROM 39 PREVIOUSLY THE PLANS ARE FAR FROM UNIVERSALLY LOVED SOME PARENTINGPLAN SUPPORTERS ARE PARTICULARLY HOPEFUL THAT THE LINGUISTIC CHANGES COULD MAKE A DIFFERENCE BUT SO FAR LAWYERS IN WASHINGTON SEEM SPLIT ON THE QUESTION PROF ELLIS REPORTED THAT AT ONE GATHERING OF ATTORNEYS SOME LAWYERS HOOTED WITH LAUGHTER AT THE SUGGESTION THAT SHIFTS IN LANGUAGE COULD IMPROVE PARENTS' ATTITUDES THOSE ATTORNEYS WERE IN TURN BOOED BY LAWYERS WHO SUPPORTED THE CHANGE WHICH ALSO HAS BEEN ADOPTED IN OTHER STATES INCLUDING FLORIDA AND MAINE IN ADDITION DESPITE GROWING NATIONAL INTEREST IN PARENTING PLANS PRELIMINARY RESULTS OF A NEW STUDY OF THE WASHINGTON SYSTEM RAISE QUESTIONS ABOUT ITS EFFECTIVENESS THE STUDY BY JOHN DUNNE A RENTON WASH CHILDANDADOLESCENT PSYCHIATRIST WHO HELPED ESTABLISH PARENTING PLANS IN THE STATE SUGGESTS THAT THE PLANS MAY ACTUALLY BE ADDING TO PARENTS' AND CHILDREN'S ANXIETY IN SOME INSTANCES PARENTS DEVISING PLANS AT THE TIME OF DIVORCE SEEM TO HAVE CONCENTRATED MORE ON THEIR OWN POWER STRUGGLES WITH EACH OTHER THAN ON THE BEST INTERESTS OF THE CHILD I'VE OBVIOUSLY CHANGED SOME OF MY THOUGHTS ABOUT WHAT'S OK HERE DR DUNNE SAID I THINK THAT WE WERE AT LEAST SOMEWHAT BETTER OFF UNDER THE OLD LAW FRANKLY A PARTICULAR PROBLEM WASHINGTON LAWYERS SAY IS THAT VENOMOUS EXSPOUSES CAN USE THE PLANS TO CREATE A MORE SOPHISTICATED BATTLEGROUND FOR THEIR CONFLICT MR HALVERSON CITED A CLIENT WHOSE EXHUSBAND RECENTLY TOOK ADVANTAGE OF A VACATIONRELATED CLAUSE IN THE PARENTING PLAN THAT THE DIVORCING COUPLE HAD DESIGNED UNDER THEIR AGREEMENT A PARENT WHO IS GOING ON VACATION CAN OVERRIDE THE REGULAR RESIDENCE SCHEDULE AND TAKE THE CHILD ALONG THE FATHER SCHEDULED HIS VACATION FOR CHRISTMASWHICH WAS TO BE THE MOTHER'S TIME WITH HER CHILD WE GOT SNOOKERED SAID MR HALVERSON A FORMER WASHINGTON STATE BAR PRESIDENT NOW HIS CLIENT PLANS TO DO THE SAME THING NEXT YEAR AND SO THE CONFLICT PLAYS ON MR HALVERSON SAID IT'S ANOTHER ATTORNEY MAKEWORK AREA ANOTHER CONCERN INVOLVES WHETHER PARENTING PLANS ARE GEARED TOO MUCH TOWARD WELLEDUCATED COUPLES WITH STRONG NEGOTIATING SKILLS WHILE WORKING AGAINST COUPLES OR INDIVIDUAL PARENTS WHO LACK SUCH SKILLS THE REAL PROBLEM IS TRYING TO DEVISE SOME LEGAL REGIME WHICH WILL MAXIMIZE THE EMOTIONAL AND PSYCHOLOGICAL CHANCES FOR KIDS SAID ROBERT J LEVY A UNIVERSITY OF MINNESOTA LAW PROFESSOR WE STILL HAVE NOT FOUND THAT CHICAGO'S ROMAN CATHOLIC CARDINAL JOSEPH BERNARDIN CREDITED WITH CREATING THE NATION'S MOST PROGRESSIVE PROGRAM FOR VICTIMS OF SEXUAL ABUSE BY CLERGY WAS HIMSELF ACCUSED OF SEXUAL ABUSE IN A SUIT BROUGHT BY A 34YEAROLD MAN IN A SUIT FILED IN FEDERAL COURT IN CINCINNATI WHERE CARDINAL BERNARDIN WAS ARCHBISHOP FROM 1972 TO 1982 THE PLAINTIFF STEVEN J COOK ALLEGES THAT THE ABUSE OCCURRED SOMETIME BETWEEN 1975 AND 1977 WHEN HE ATTENDED A PROGRAM AT A CINCINNATI SEMINARY MR COOK IS SEEKING 10 MILLION IN DAMAGES ACCORDING TO HIS COMPLAINT MR COOK WAITED MORE THAN 15 YEARS TO MAKE THE ACCUSATIONS BECAUSE HE BEGAN TO RECALL THE INCIDENTS ONLY LAST MONTH CARDINAL BERNARDIN SPIRITUAL LEADER TO THE NATION'S SECONDLARGEST ARCHDIOCESE VEHEMENTLY DENIED THE ALLEGATIONS AT A NEWS CONFERENCE FRIDAY I STATE THIS CATEGORICALLY HE SAID I HAVE NEVER ABUSED ANYONE IN ALL MY LIFE ANYWHERE ANYTIME ANY PLACE IN HIS SUIT MR COOK ALLEGES THAT HE WAS CONTINUOUSLY SUBJECTED TO SEXUAL ABUSE BY A SEMINARY WORKER WHO BROUGHT HIM TO THENARCHBISHOP BERNARDIN'S PRIVATE QUARTERS ON AT LEAST ONE OCCASION MR COOK CLAIMS HE WAS THEN ABUSED BY THE ARCHBISHOP IN CHICAGO CARDINAL BERNARDIN IS CREDITED WITH STARTING A 24HOUR TOLLFREE PHONE NUMBER FOR VICTIMS OF ABUSE BY CLERGY TO MAKE COMPLAINTS LAST YEAR HE ESTABLISHED AN INDEPENDENT REVIEW BOARD TO INVESTIGATE ALLEGATIONS NEW JERSEY DEMOCRATS FILED A LAWSUIT FRIDAY IN FEDERAL COURT IN NEWARK SEEKING TO INVALIDATE GOVELECT CHRISTINE TODD WHITMAN'S NARROW ELECTION VICTORY ON THE GROUNDS HER CAMPAIGN ALLEGEDLY FUNNELED MONEY TO SUPPRESS BLACKVOTER TURNOUT AT THE SAME TIME THE US ATTORNEY IN NEWARK MICHAEL CHERTOFF AND THE FEDERAL BUREAU OF INVESTIGATION ANNOUNCED THEY ARE INVESTIGATING WHETHER CRIMINAL LAWS WERE VIOLATED BOTH ACTIONS WERE PROMPTED BY THE STATEMENT LAST WEEK BY MRS WHITMAN'S CAMPAIGN MANAGER AND CHIEF POLITICAL STRATEGIST EDWARD J ROLLINS THAT THE WHITMAN CAMPAIGN PAID BLACK CHURCH LEADERS IN URBAN DEMOCRATIC STRONGHOLDS A TOTAL OF ABOUT 500000 TO REFRAIN FROM ENCOURAGING BLACKS TO GO TO THE POLLS MRS WHITMAN WHO DEFEATED DEMOCRATIC GOV JIM FLORIO BY FEWER THAN 30000 VOTES DENIED ANY SUCH PAYMENTS SHE DEMANDED AND RECEIVED A RETRACTION FROM MR ROLLINS WHO HASN'T ELABORATED IN ITS CIVIL SUIT THE NEW JERSEY STATE DEMOCRATIC COMMITTEE ALLEGES VIOLATIONS OF THE VOTING RIGHTS ACT THE CIVIL RIGHTS ACT AND NUMEROUS US CONSTITUTIONAL PROVISIONS THE SUIT WAS FILED WITH A SEPARATE ACTION SEEKING A COURT ORDER ALLOWING LAW YERS FOR THE DEMOCRATS TO QUESTION MR ROLLINS AND OTHERS TO DETERMINE WHETHER THE CONTRIBUTIONS VIOLATED A CONSENT AGREEMENT THAT STATE REPUBLICANS SIGNED IN 1982 REQUIRING THEM TO COMPLY WITH VOTINGRIGHTS LAWS US DISTRICT JUDGE DICKINSON R DEBEVOISE IN NEWARK HAS SCHEDULED A HEARING THIS MORNING TO DECIDE WHETHER TO PERMIT THE PRETRIAL QUESTIONING IN WASHINGTON THE DEMOCRATIC NATIONAL COMMITTEE SAID IT IS JOINING IN THE CIVIL SUIT JUSTICE DEPARTMENT OFFICIALS HELD OPEN A SLIGHT POSSIBILITY OF JOINING IN THE SUIT WHICH MIGHT HELP DEPARTMENT INVESTIGATORS GATHER INFORMATION BUT OFFICIALS ALSO SAID THEY ARE GROWING LESS INCLINED TO THINK THAT STEP IS NECESSARY THEY INDICATED THAT THE WHITMAN CAMP IS TURNING OVER MANY RECORDS THE WHITMAN CAMPAIGN ALSO PUBLICLY RELEASED FINANCIAL REPORTS THAT BACKED UP AIDES' EARLIER INSISTANCE THAT THE SOCALLED WALKINGAROUND MONEY THE CAMPAIGN USED AMOUNTED TO ABOUT ONETENTH OF THE 500000 MR ROLLINS CLAIMED WAS SPENT AND THAT IT WAS ALL USED FOR TRADITIONAL GETOUTTHEVOTE ACTIVITIES MILO GEYELIN CONTRIBUTED TO THIS COLUMN 9311150058 931115 TECHNOLOGY A SPECIAL REPORT CHASING THE GOLD TO WHOM IT MAY CONCERN ELECTRONIC BULLETIN BOARDS ARE HELPING FIRMS SWAP INFORMATION AND MORE WITH CUSTOMERS AND STAFF BY KYLE POPE AS A GIANT IN THE NATURALGAS PIPELINE BUSINESS PANHANDLE EASTERN CORP SERVES AN INDUSTRY AS BASIC AS THEY COME ITS EXECUTIVES AREN'T EXACTLY CYPERPUNKS YET THEY HAVE BECOME CONVERTS TO COMPUTER BULLETIN BOARDS PANHANDLE'S LINK SYSTEM INSTALLED IN JUNE DOES FOR PIPELINES WHAT AIRLINES' COMPUTERIZED RESERVATION SYSTEMS DO FOR THE TRAVEL INDUSTRY BY DIALING IN UTILITY COMPANIES CAN FIGURE OUT HOW MUCH GAS IS AVAILABLE WHEN IT CAN BE DELIVERED AND HOW MUCH IT WILL COST THOUGH MANY PANHANDLE EXECUTIVES HAD NEVER USED A COMPUTER BEFORE THEY ARE NOW PUSHING THEIR SYSTEM AS AN INDUSTRY STANDARD WE'VE GONE INTERACTIVE RON HARMOND A PANHANDLE VICE PRESIDENT SAYS PROUDLY LOTS OF OTHER COMPANIES IT TURNS OUT ARE ALSO PLUGGING IN INSTALLING BULLETIN BOARDS NOT AS STANDALONE MONEYMAKERS BUT TO HELP RUN THEIR CORE BUSINESSES ALTHOUGH MANY PEOPLE REMAIN UNCOMFORTABLE WITH THE TECHNOLOGY COMPUTER COMPANIES USE BULLETIN BOARDS TO HELP CUSTOMERS FIX GLITCHES AND PHARMACEUTICAL COMPANIES RELY ON THEM TO HELP MONITOR PATIENTS' REACTIONS TO NEW DRUGS THE BOARDS MAY EVEN SERVE AS ONE CONNECTION FOR INTERACTIVE TELEVISION BULLETIN BOARDS ARE ON THEIR WAY TO BECOMING A TOOL THAT IS PART OF DOING ALMOST EVERYTHING IN BUSINESS SAYS PHILIP BECKER PRESIDENT OF ESOFT INC AN AURORA COLO SOFTWARE COMPANY TRYING TO FIGURE OUT WHERE THIS IS GOING IS LIKE ASKING FIVE YEARS AGO WHAT THE IMPACT OF THE FAX MACHINE WAS GOING TO BE PART OF THE APPEAL THE ONLINE COMMUNITY HAS MORE THAN REACHED CRITICAL MASS WITH 135 MILLION PEOPLE USING BULLETIN BOARDS AND THE NUMBER RISING 70 A YEAR ACCORDING TO BOARDWATCH MAGAZINE MOREOVER THE ELECTRONIC MESSAGE BOARDS CAN SAVE BUSINESSES MONEY ON STAFF REAL ESTATE AND MAILINGS CUSTOMERS OF BOOK STACKS UNLIMITED SHOP ONLY ELECTRONICALLY BROWSING THROUGH 268000 TITLES ON THE CLEVELANDBASED BUSINESS'S BULLETIN BOARD BOOKS ORDERED THROUGH THE SERVICE ARE THEN MAILED TO BUYERS' HOMES THE COMPANY HAS ALSO INTRODUCED THE SAME TYPE OF SHOPPING FOR VIDEOS CALLED MOVIESBYMODEM FOR MCAFEE ASSOCIATES A SANTA CLARA CALIF COMPANY THAT MAKES PROGRAMS TO FIGHT COMPUTER VIRUSES SELLING THROUGH A BULLETIN BOARD IS NOT ONLY THRIFTY BUT ALSO REPRESENTS A FORM OF TARGETED MARKETING LINKING THE COMPANY TO USERS WHO FORM THE CORE OF ITS POTENTIAL CUSTOMER BASE MORE THAN 90 OF THE COMPANY'S SALES WHICH TOTALED 84 MILLION IN THE FIRST HALF OF THIS YEAR COME FROM ITS BULLETIN BOARD CUSTOMERS CAN DIAL IN PULL SOFTWARE OFF THE NETWORK AND MAIL MCAFEE A PAYMENT ON THE HONOR SYSTEM IF THEY DECIDE TO KEEP IT EVEN BULLETINBOARD BOOSTERS THOUGH CAUTION THAT BASING A BUSINESS ON THE TECHNOLOGY IS A RISKY MOVE MANY WHITECOLLAR WORKERS ARE FAMILIAR WITH PERSONAL COMPUTERS BUT THREEQUARTERS OF US HOUSEHOLDS STILL DON'T HAVE A PERSONAL COMPUTER AND OF THE PEOPLE WHO DO MANY STILL ARE BAFFLED BY THE MODEM SOFTWARE AND SPECIAL COMMANDS NEEDED TO NAVIGATE THROUGH A NETWORK THE VAST BULK OF HUMANITY STILL DOESN'T UNDERSTAND COMMUNICATIONS TECHNOLOGY SAYS HARRY NEWTON PUBLISHER OF TELECONNECT A NEW YORK TELECOMMUNICATIONS TRADE MAGAZINE AND AUTHOR OF AN ENCYCLOPEDIA OF BULLETINBOARD JARGON PEOPLE ARE LIMITED IN THEIR ABILITY TO USE THESE THINGS MUCH OF TELECONNECT'S AUDIENCE APPARENTLY FITS THAT DESCRIPTION MR NEWTON SAYS A BULLETIN BOARD THE MAGAZINE SET UP TO TALK TO READERS IS RARELY USED IT JUST SITS THERE HE SAYS IT HASN'T BEEN AN UNMITIGATED DISASTER BUT IT CERTAINLY HASN'T BEEN WORTH THE MONEY OTHER PEOPLE CLOSE TO THE SCENE ARE MORE POSITIVE ABOUT BULLETIN BOARDS' PROSPECTS MR BECKER OF ESOFT SAYS THE INCREASED POPULARITY OF THE ELECTRONIC MESSAGE BOARDS COULD HELP HUNDREDS OF SMALL BUSINESSES GET OFF THE GROUND HE CITES THE KIND OF SAVINGS AND REACH ON DISTRIBUTION ACHIEVED BY MCAFEE AND BOOK STACKS UNLIMITED YOU CAN START A PRETTY AMBITIOUS BUSINESS PLAN FROM A STANDING START HE SAID IT'S THE MOST BOOTSTRAPPABLE THING SO FAR THE COMPANIES THAT SEEM TO BE DOING THE MOST WITH BULLETIN BOARDS ARE TECHNOLOGY BUSINESSES LIKE MCAFEE WHERE EMPLOYEES AND MANY CUSTOMERS ALREADY HAVE A BASE OF HIGHTECH UNDERSTANDING MOST LARGE SOFTWARE AND HARDWARE COMPANIES HAVE FOR YEARS OPERATED BULLETIN BOARDS TO HELP THEIR CUSTOMERS HASH OUT PROBLEMS AND FIX BUGS COMPAQ COMPUTER CORP'S BULLETIN BOARD RECEIVES ABOUT 500 MESSAGES A WEEK CLOSE BEHIND ARE PHARMACEUTICAL COMPANIES WHICH USE BULLETIN BOARDS AS A FORUM FOR PATIENTS TO DISCUSS THE IMPACT AND SIDE EFFECTS OF NEW OR EXPERIMENTAL DRUGS STUART WEISBROD A MERRILL LYNCH & CO DRUGINDUSTRY ANALYST IN NEW YORK READS THE BOARDS TO TRACK THE COMPANIES' PROGRESS IN DEVELOPING MEDICATIONS IN ONE CASE MR WEISBROD DETERMINED BEFORE ANYONE ELSE ON WALL STREET THAT A REGENERON PHARMACEUTICALS INC DRUG TO TREAT AMYOTROPHIC LATERAL SCLEROSIS LOU GEHRIG'S DISEASE WAS WORKING BETTER THAN THE COMPANY HAD ACKNOWLEDGED THERE WERE A LOT OF GREAT TESTIMONIALS ON THE BULLETIN BOARD FROM PATIENTS IN CLINICAL TRIALS OF THE DRUG MR WEISBROD SAYS IT'S A WAY FOR ME TO GET A JUMP BEFORE THE COMPANIES RELEASE THE INFORMATION SOME ENTERTAINMENT EXECUTIVES SEE BULLETIN BOARDS AS A ROUTE TO INTERACTIVE TELEVISION RICK ROSNER PRODUCER OF THE OLD TV SERIES CHIPS IS DEVELOPING A GAME SHOW CALLED PHONE TAG SCHEDULED TO START NEXT FALL CONTESTANTS WON'T BE IN THE STUDIO HE'S DEVELOPING A BULLETIN BOARD THAT WILL LET VIEWERS PLAY FROM THEIR HOME COMPUTERS VIA THE PRODIGY ONLINE SERVICE IT'S HERE IT'S NOW IT'S THE FUTURE MR ROSNER SAYS INTERNAL BULLETIN BOARDS CAN BE USEFUL AS A MANAGEMENT TOOL TEXAS INSTRUMENTS INC IN DALLAS MAINTAINS A BULLETIN BOARD ON WHICH EMPLOYEES CAN ANONYMOUSLY AIR COMPLAINTS THEIR BEEFS ROUTED THROUGH A COMPANY ETHICS OFFICE INCLUDE EVERYTHING FROM TIPS ON POSSIBLE SECURITY BREACHES AT THE COMPANY'S DEFENSE OPERATIONS TO ALLEGATIONS OF HARASSMENT AND DRUG ABUSE ONE FREQUENT READER OF THE SYSTEM JERRY JUNKINS THE COMPANY'S CHIEF EXECUTIVE EVEN IF BULLETIN BOARDS DON'T BECOME UBIQUITOUS BUSINESS TOOLS THEY MAY ALWAYS HAVE A ROLE IN SOME MARKETS ELDORADO TRADING CO A BOULDER COLO MAKER OF EROTIC PRODUCTS IS PREPARING A BULLETIN BOARD FOR SHY CUSTOMERS WHO CAN'T BRING THEMSELVES TO BUY ITS PRODUCTS IN PERSON SAYS HEIDI CAPDEVILLE THE COMPANY'S MARKETING COORDINATOR THERE ARE A LOT OF PEOPLE OUT THERE WHO STILL AREN'T COMFORTABLE SHOPPING FOR THIS TYPE OF PRODUCT SHE SAYS THIS GIVES THEM ANOTHER OPTION MR POPE IS A STAFF REPORTER IN THE WALL STREET JOURNAL'S DALLAS BUREAU 9311150057 931115 MARKETING & MEDIA PHILIP MORRIS LIFTS CIGARETTE PRICES TO MATCH RIVALS BY EBEN SHAPIRO STAFF REPORTER OF THE WALL STREET JOURNAL PHILIP MORRIS COS RAISED ITS CIGARETTE PRICES MATCHING THE MODEST INCREASES ALREADY TAKEN BY ITS RIVALS THE EXPECTED MOVE SIGNALS AT LEAST A TEMPORARY END TO HOSTILITIES IN THE COSTLY CIGARETTE PRICE WAR LAST WEEK THE MAJOR CIGARETTE COMPANIES EFFECTIVELY RAISED THE RETAIL PRICE OF A PACK OF CIGARETTES BY FIVE CENTS WITH PRICES STABILIZING SOME INVESTORS ARE BETTING THAT PHILIP MORRIS WILL SOON BOOST ITS DIVIDEND THE COMPANY HAS RAISED ITS DIVIDEND EACH YEAR SINCE 1968 BUT WITH PROFITS UNDER PRESSURE IT STUNNED INVESTORS AND SENT ITS STOCK PLUNGING WHEN IT DIDN'T TAKE ITS USUAL AUGUST DIVIDEND INCREASE THE COMPANY'S DIRECTORS ARE SCHEDULED TO MEET NOV 24 AND SOME ANALYSTS EXPECT THE BOARD TO BOOST THE QUARTERLY DIVIDEND OF 65 CENTS A SHARE AT THAT TIME HOWEVER BARRY M ZIEGLER THE TOBACCO ANALYST AT AG EDWARDS & SONS INC IN ST LOUIS IS DOUBTFUL I THINK THEY WILL TEND TO BE CONSERVATIVE AND KEEP THEIR POWDER DRY HE SAID PHILIP MORRIS IS CLAIMING VICTORY IN THE PRICE WAR THAT BEGAN IN APRIL WHEN THE COMPANY SAID IT PLANNED TO CUT PREMIUM CIGARETTE PRICES BY 20 OR 40 CENTS A PACK WE DEFINITELY ACHIEVED OUR OBJECTIVES A PHILIP MORRIS SPOKESWOMAN SAID ON FRIDAY WITH THE PRICE CUT PHILIP MORRIS HAS REVERSED MARLBORO'S MARKETSHARE DECLINE INCREASED ITS SHARE OF THE TOTAL DOMESTIC CIGARETTE MARKET AND BOLSTERED ITS DISCOUNT CIGARETTE BUSINESS BUT THE GAINS CAME AT A HUGE PRICE COSTING THE COMPANY 2 BILLION IN PROFITS THIS YEAR PHILIP MORRIS SHARES CLOSED FRIDAY AT 59 UP 250 IN COMPOSITE TRADING ON THE NEW YORK STOCK EXCHANGE AFTER SEVERAL ANALYSTS UPGRADED PHILIP MORRIS TO A BUY RECOMMENDATION THE STOCK IS STILL TRADING 76 BELOW THE PREPRICE CUT LEVELS SOME ANALYSTS ARE SKEPTICAL ABOUT THE POSITIVE REAPPRAISALS OF THE BATTERED TOBACCO INDUSTRY I'M NOT SINGING THE WAY WE WERE' SAYS S LEIGH FERST AN ANALYST AT PRUDENTIAL SECURITIES INC THE WORLD HAS CHANGED THE INDUSTRY IS UNDER ATTACK ADDS MR ZIEGLER OF AG EDWARDS IT'S A LITTLE TOO EARLY TO SAY ALL THE PROBLEMS ARE IN THE PAST 9311150056 931115 BUSINESS BRIEF AMVESTORS FINANCIAL CORP INSURANCE HOLDING COMPANY COMPLETES SALE OF COMMON AMVESTORS FINANCIAL CORP SAID IT HAS COMPLETED THE SALE OF 35 MILLION NEW SHARES OF COMMON STOCK AT 950 A SHARE RALPH W LASTER JR THE TOPEKA KAN INSURANCE HOLDING COMPANY'S CHAIRMAN AND CHIEF EXECUTIVE SAID THE NEARLY 333 MILLION IN PROCEEDS WOULD BE USED TO REPAY BANK DEBT OUTSTANDING AND FOR OTHER CORPORATE PURPOSES THE SALE INCREASES THE NUMBER OF SHARES OUTSTANDING TO 171 MILLION AMVESTORS CLOSED AT 1050 A SHARE FRIDAY UP 9 FROM 9625 IN HEAVY TRADING ON THE NASDAQ STOCK MARKET IN AUGUST AMVESTORS WITHDREW AN OFFERING OF 35 MILLION SHARES BECAUSE OF INSUFFICIENT ORDERS AND WHAT IT TERMED AN UNSATISFACTORY PRICE OF 950 A SHARE THE DEMAND FOR THE STOCK WAS MUCH GREATER THIS TIME SAID MR LASTER THE OFFERING WAS COMANAGED BY FURMAN SELZ INC AND PIPER JAFFRAY INC AMVESTORS FINANCIAL CORP SAID THAT AFTER COMPLETING THE SALE OF 35 MILLION NEW SHARES OF COMMON STOCK LAST WEEK IT HAS ABOUT 96 MILLION SHARES OUTSTANDING AN ARTICLE MONDAY INCORRECTLY STATED THAT THE COMPANY WOULD HAVE 171 MILLION SHARES OUTSTANDING AFTER THE SALE 9311150055 931115 NEW SECURITIES ISSUES THE FOLLOWING WERE AMONG FRIDAY'S OFFERINGS AND PRICINGS IN US AND NONUS CAPITAL MARKETS WITH TERMS AND SYNDICATE MANAGER AS COMPILED BY DOW JONES CAPITAL MARKETS REPORT MASSACHUSETTS MUTUAL LIFE INSURANCE CO 250 MILLION OF SURPLUS NOTES DUE NOV 15 2023 PRICED IN THE PRIVATEPLACEMENT MARKET AT PAR TO YIELD 7625 THE CALLABLE 144A ISSUE WAS PRICED AT A SPREAD OF 120 BASIS POINTS ABOVE TREASURYS RATED DOUBLEA3 BY MOODY'S INVESTMENT SERVICE INC AND DOUBLEAMINUS BY STANDARD & POOR'S CORP THE ISSUE WILL BE SOLD THROUGH UNDERWRITERS LED BY GOLDMAN SACHS & CO STATE BANCSHARES INC INITIAL OFFERING OF 817000 COMMON SHARES PRICED AT 19 APIECE THROUGH UNDERWRITER ALEX BROWN & SONS INC FEDERAL AIRPORTS CORP AUSTRALIA 200 MILLION OF 6375 EUROBONDS DUE NOV 24 2003 AND ISSUED AT 100425 VIA CREDIT SUISSE FIRST BOSTON LTD REOFFERED AT 9934 TO YIELD 647 A MARGIN OF 65 BASIS POINTS OVER COMPARABLE US TREASURY FEES TWO TAKASHIMAYA INTERNATIONAL FINANCE BV JAPANESE PARENT FIVE BILLION YEN OF 42 EUROBONDS DUE AUG 22 2000 AT ISSUE AND FIXED REOFFER PRICE 101875 VIA SANWA INTERNATIONAL PLC BONDS YIELD 388 KEEPWELL AGREEMENT WITH TAKASHIMAYA & CO FEES 1875 TRINITY TRUST US SPECIALPURPOSE VEHICLE TO SECURITIZE ARGENTINEAN CAR LOANS 50 MILLION OF 772 ASSETBACKED PARTICIPATION CERTIFICATES IN THREE CLASSES ISSUED AT PAR VIA CITIBANK INTERNATIONAL PLC CITIBANK'S BUENOS AIRES BRANCH ACTING AS ORIGINATOR SELLER AND SERVICER OF LOAN CLASS 1 CERTIFICATES TOTAL 1776 MILLION CLASS 2 TOTALS 166 MILLION CLASS 3 CERTIFICATES TOTAL 157 MILLION AND ALSO REPRESENT OWNERSHIP INTEREST IN PROPERTY OF TRINITY TRUST CERTIFICATES MATURE IN 1996 WITH CLASS 1 CERTIFICATES ON NOV 15 CLASS 2 ON OCT 15 AND CLASS 3 ON SEPT 15 EACH CLASS PAYS PRINCIPAL AND INTEREST QUARTERLY IN ARREARS WHERE PRINCIPAL DECLINES AND HAS IRREGULAR AMORTIZATION AND PASS THROUGH INTEREST RATE IS 772 QUARTERLY 77945 SEMIANNUALLY OR 424 BASIS POINTS OVER ONEYEAR US TREASURY BILL AVERAGE LIFE EXPECTANCY NINE MONTHS CALLABLE AT ANY TIME BY CITIBANK ON ANY DISTRIBUTION DATE ONCE POOL BALANCE IS LESS THAN 5 OF ORIGINAL POOL BALANCE AT PRICE EQUAL TO THEN POOL BALANCE PLUS ACCRUED INTEREST FEES 125 9311150054 931115 TECHNOLOGY BRIEF CALGENE INC TOMATO INVESTMENTS RESULT IN LOSS FOR THE FIRST QUARTER CALGENE INC SAID INVESTMENTS IN THE DEVELOPMENT OF ITS FLAVR SAVR TOMATO RESULTED IN A FIRSTQUARTER LOSS OF 104 MILLION OR 43 CENTS A SHARE COMPARED WITH A YEARAGO LOSS OF 49 MILLION OR 23 CENTS A SHARE REVENUE IN THE PERIOD ENDED SEPT 30 ROSE 16 TO 62 MILLION FROM 54 MILLION BASED IN DAVIS CALIF THE AGRICULTURAL BIOTECHNOLOGY COMPANY SAID THE LOSSES WERE EXPECTED IN OVERTHECOUNTER TRADING ON FRIDAY CALGENE SHARES CLOSED UNCHANGED AT 1625 THE CALGENE TOMATO WHICH IS GENETICALLY ENGINEERED TO RESIST ROTTING WILL BE MARKETED ON A REGIONAL BASIS THIS WINTER PENDING CLEARANCE BY THE US FOOD AND DRUG ADMINISTRATION HOWEVER CALGENE SAID THE TOMATOES WON'T BE AVAILABLE IN SIGNIFICANT QUANTITIES UNTIL MARCH 1994 9311150053 931115 BUSINESS BRIEF ASARCO INC PACT REACHED ON STOCK SWAP FOR STAKE IN GRUPO MEXICO ASARCO INC SAID IT REACHED AN AGREEMENT IN PRINCIPLE WITH GRUPO INDUSTRIAL MINERA MEXICO SA DE CV GRUPO MEXICO TO SWAP ITS STAKE IN MEXICO DESARROLLO INDUSTRIAL MINERO SA DE CV MEDIMSA FOR SHARES IN GRUPO MEXICO MEDIMSA OWNS AND OPERATES MINES AND METALLURGICAL PLANTS IN MEXICO AND IS ASARCO'S LAST MAJOR OPERATION THERE ASARCO ESTIMATED THE BOOK VALUE OF ITS MEDISMA STAKE AT ABOUT 300 MILLION GRUPO MEXICO A LARGE PUBLICLY TRADED MINING CONCERN BASED IN MEXICO CITY HAS A 688 STAKE IN MEDISMA WHILE ASARCO A MINING AND CHEMICAL CONCERN BASED IN NEW YORK HOLDS A 283 STAKE UNDER THE AGREEMENT WHICH MUST BE APPROVED BY ASARCO'S BOARD ASARCO WOULD TRADE ITS STAKE IN MEDISMA FOR VARIOUS FORMS OF STOCK THAT WOULD GIVE IT A 236 STAKE IN GRUPO MEXICO ASARCO AND GRUPO MEXICO ALSO WOULD COOPERATE IN AN INTERNATIONAL OFFERING OF GRUPO MEXICO SHARES THAT WOULD INCLUDE PART OF ASARCO'S STAKE ASARCO STOCK ROSE 6 TO 2050 FROM 1925 IN NEW YORK STOCK EXCHANGE COMPOSITE TRADING FRIDAY 9311150052 931115 BUSINESS BRIEF SPECTRUM INFORMATION TECHNOLOGIES FIRM HAS QUARTERLY PROFIT AFTER LOSS A YEAR EARLIER SPECTRUM INFORMATION TECHNOLOGIES INC A CELLULARCOMMUNICATIONS COMPANY HEADED BY FORMER APPLE COMPUTER CO CHAIRMAN JOHN SCULLEY REVERSED A YEAREARLIER LOSS IN ITS FISCAL SECOND QUARTER ENDED SEPT 30 EARNINGS WERE 646374 OR ONE CENT A SHARE COMPARED WITH A LOSS OF 56 MILLION OR 10 CENTS A SHARE FOR THE SAME PERIOD LAST YEAR REVENUE INCHED UP 1 TO 245 MILLION FROM 243 MILLION SPECTRUM OF MANHASSET NY NOTED THAT IT WAS THE FIRST TIME THE COMPANY HAD REPORTED TWO CONSECUTIVE PROFITABLE QUARTERS THE COMPANY SAID THE INCREASE IN NET INCOME WAS PRIMARILY DUE TO RECEIPT OF FEES FROM NEW LICENSES 9311150051 931115 INTERNATIONAL JAPANESE MANUFACTURERS GET HIT HARD AS AUTO AND STEEL FIRMS POST BIG LOSSES BY MICHAEL WILLIAMS STAFF REPORTER OF THE WALL STREET JOURNAL TOKYO JAPAN'S MANUFACTURING SECTOR SQUEEZED BY A STRONG YEN AND SLUMPING DEMAND AT HOME CRIED OUCH ON FRIDAY AS TWO AUTO MAKERS AND THE COUNTRY'S TOP FIVE STEELMAKERS POSTED LARGE FIRSTHALF LOSSES THE GRIM RESULTS CAP RECENT STOCKMARKET JITTERS AND BEARISH PRONOUNCEMENTS BY GOVERNMENT OFFICIALS ON THE STATE OF THE ECONOMY BUSINESS LEADERS ARE CLAMORING FOR INCOMETAX CUTS TO SPUR CONSUMER SPENDING BUT MANY ECONOMISTS SAY PUTTING EXTRA MONEY IN PEOPLE'S HANDS WON'T BE ENOUGH TO TURN THINGS AROUND FOR JAPAN'S AILING MANUFACTURERS EVEN WITH A TAX CUT THERE'S SO MUCH DOWNWARD PRESSURE ON THE MANUFACTURING SECTOR SAID DONALD KIMBALL ECONOMIST AT MITSUBISHI BANK LTD THE BANK EXPECTS JAPAN'S INDUSTRIAL OUTPUT TO DROP 44 THIS YEAR AND A FURTHER 25 NEXT YEAR JAPANESE MANUFACTURERS ARE HAMPERED BY EXCESS CAPACITY AT HOME THE AUTO INDUSTRY FOR INSTANCE IS ESTIMATED TO HAVE 20 MORE CAPACITY THAN IT NEEDS MEANWHILE THE STRONG YEN IS FORCING CAR MAKERS TO MOVE MORE PRODUCTION AND PARTS PROCUREMENT OVERSEAS MAZDA MOTOR CORP POSTED AN UNCONSOLIDATED PRETAX LOSS OF 1553 BILLION YEN 146 MILLION ITS FIRST LOSS SINCE 1975 IN THE SIX MONTHS ENDED SEPT 30 THE LOSS COMPARED WITH A 306 BILLION YEN PRETAX PROFIT A YEAR EARLIER SALES PLUMMETED 22 TO 87608 BILLION YEN THE RESULTS WERE CLOSE TO THE FORECAST THE COMPANY ISSUED IN SEPTEMBER MAZDA BLAMED THE POOR SHOWING ON THE YEN AND ON WEAK DEMAND FOR CARS IN JAPAN AND EUROPE TO MAKE UP FOR THE YEN'S APPRECIATION MAZDA'S US SALES UNIT RECENTLY BOOSTED PRICES TWICE BY A COMBINED AVERAGE OF 967 A CAR MAZDA LEFT UNCHANGED ITS ESTIMATE OF A 32 BILLION YEN PRETAX LOSS FOR THE FULL YEAR BUT LOWERED ITS SALES ESTIMATE TO 189 TRILLION YEN FROM 192 TRILLION YEN THE LOWERED ESTIMATE NEVERTHELESS ASSUMES THAT SALES WILL PICK UP IN THE SECONDHALF AN OUTCOME THAT MOST ANALYSTS DEEM UNLIKELY FUJI HEAVY INDUSTRIES LTD THE MAKER OF SUBARU AUTOMOBILES POSTED A PARENTCOMPANY PRETAX LOSS OF 1901 BILLION YEN FOR THE FIRSTHALF SWINGING INTO THE RED FROM A 224 MILLION YEN PROFIT A YEAR EARLIER SUZUKI MOTOR CO FARED MUCH BETTER TURNING A PARENT PRETAX PROFIT OF 918 BILLION YEN DOWN JUST 18 THANKS PARTLY TO STRONG MOTORCYCLE EXPORTS JAPAN'S MAJOR STEEL MAKERS TOOK A DRUBBING NIPPON STEEL CORP THE COUNTRY'S BIGGEST STEEL COMPANY REPORTED A PARENT PRETAX LOSS OF 1670 BILLION YEN COMPARED WITH A 1414 BILLION YEN PROFIT A YEAR AGO EXECUTIVES AT NIPPON AND OTHER STEELMAKERS SAID THEY EXPECT DEMAND TO REMAIN WEAK IN THE CURRENT HALF AS WELL TOKYO INVESTORS TOOK THE RED INK IN STRIDE STEEL SHARES FOR INSTANCE REBOUNDED FRIDAY ALONG WITH THE OVERALL TOKYO STOCK MARKET THE RESULTS WERE LARGELY IN LINE WITH EXPECTATIONS STEELMAKERS ALSO HAVE BEEN ANNOUNCING JOB REDUCTIONS AND OTHER COSTCUTTING MOVES UNCONSOLIDATED RESULTS FOR THE FISCAL FIRST HALF ENDED SEPT 30 COMPARISONS ARE WITH FIRSTHALF RESULTS OF A YEAR EARLIER NIPPON STEEL PRETAX LOSS WAS 1670 BILLION YEN VS A PRETAX PROFIT OF 1414 BILLION YEN NET LOSS WAS 2223 BILLION YEN VS NET INCOME OF 471 BILLION YEN SALES WERE 1060 TRILLION YEN DOWN 11 FROM 1188 TRILLION NKK CORP PRETAX LOSS WAS 1540 BILLION YEN VS A PRETAX PROFIT OF 633 BILLION YEN NET LOSS WAS 1474 BILLION YEN VS NET INCOME OF 155 BILLION YEN SALES WERE 53734 BILLION YEN DOWN 11 FROM 60540 BILLION YEN SUMITOMO METAL INDUSTRIES LTD PRETAX LOSS WAS 901 BILLION YEN VS A PRETAX PROFIT OF 332 BILLION YEN NET LOSS WAS 951 BILLION YEN VS NET INCOME OF 435 BILLION SALES WERE 50795 BILLION YEN DOWN 11 FROM 51361 BILLION YEN KAWASAKI STEEL CORP PRETAX LOSS WAS 831 BILLION YEN VS A 401 BILLION YEN PRETAX PROFIT NET LOSS WAS 834 BILLION YEN VS NET INCOME OF 372 BILLION YEN SALES WERE 52229 BILLION YEN DOWN 67 FROM 55968 BILLION YEN KOBE STEEL LTD PRETAX LOSS WAS 816 BILLION YEN VS A PRETAX PROFIT OF 708 BILLION YEN NET LOSS WAS 579 BILLION YEN VS NET INCOME OF 393 BILLION YEN SALES WERE 54463 BILLION YEN DOWN 58 FROM 57826 BILLION YEN FUJI HEAVY INDUSTRIES PRETAX LOSS WAS 1901 BILLION YEN VS A PRETAX PROFIT OF 224 MILLION YEN NET LOSS WAS 1643 BILLION YEN VS A NET LOSS OF 274 MILLION YEN SALES WERE 35660 BILLION YEN DOWN 11 FROM 39986 BILLION YEN SUZUKI MOTOR PRETAX PROFIT WAS 918 BILLION YEN DOWN 18 FROM 935 BILLION YEN NET PROFIT WAS 391 BILLION YEN DOWN 57 FROM 414 BILLION YEN SALES WERE 51772 BILLION YEN DOWN 02 FROM 51851 BILLION YEN 9311150050 931115 SWEETENED OFFER ON TABLE QVC HEADS FOR COURT FATE OF 106 BILLION BID FOR PARAMOUNT RESTS ON VIACOMPACT CASE BY JOHNNIE L ROBERTS AND RANDALL SMITH STAFF REPORTERS OF THE WALL STREET JOURNAL NEW YORK QVC NETWORK INC WITH A SWEETENED BID NOW ON THE TABLE TAKES THE BATTLE FOR PARAMOUNT COMMUNICATIONS INC TO DELAWARE COURT TOMORROW WHERE IT IS PINNING ITS HOPES ON A LEGAL CHALLENGE TO THE FRIENDLY AGREEMENT BETWEEN PARAMOUNT AND VIACOM INC ON FRIDAY QVC TOPPED VIACOM'S 97 BILLION OFFER FOR ENTERTAINMENT AND PUBLISHING CONCERN PARAMOUNT WITH A NEW 106 BILLION BID BUT VIACOM WHICH HAS ALREADY SWEETENED ITS OFFER TWICE MAY YET REGAIN THE UPPER HAND QVC SAYS IT WON'T PROCEED WITH ITS HIGHER OFFER UNLESS IT CAN PERSUADE THE DELAWARE CHANCERY COURT TO LEVEL THE PLAYING FIELD BY NULLIFYING A SOCALLED LOCKUP AGREEMENT THAT WOULD REQUIRE QVC TO PAY VIACOM ROUGHLY 600 MILLION ON TOP OF THE ACQUISITION PRICE FOR PARAMOUNT PARAMOUNT'S BOARD IS EXPECTED TO MEET TODAY TO CONSIDER QVC'S NEW BID BEFORE TOMORROW'S COURT HEARING THE BOARD IS LIKELY TO FOCUS PARTLY ON THE FACT THAT WHILE THE NEW BID IS HIGHER GETTING THAT PRICE WOULD MEAN THAT THE COURT WOULD HAVE TO BLOCK THE LOCKUP AGREEMENT WHICH PARAMOUNT GRANTED TO VIACOM IN THEIR ORIGINAL FRIENDLY MERGER ACCORD QVC IS ASKING FOR A TEMPORARY INJUNCTION TO BLOCK THE PARAMOUNTVIACOM DEAL BUT IF THE COURT DOESN'T INTERVENE VIACOM MAY BE ABLE TO COMPLETE ITS OFFER ON SCHEDULE ON NOV 22 THAT'S BECAUSE TRADERS MAY BE AFRAID GIVEN THE WAY THE VIACOM BID IS STRUCTURED OF MISSING OUT ON THE CASH PORTION OF THE OFFER EVEN THOUGH IT IS 5 LESS A SHARE THAN THE QVC OFFER ON FRIDAY THE DAY AFTER SECURING AN AGREEMENT FOR A 15 BILLION INVESTMENT FROM REGIONAL PHONE COMPANY BELLSOUTH CORP HOMESHOPPING CONCERN QVC RAISED ITS ORIGINAL TWOSTEP OFFER THEN VALUED AT 7702 A SHARE IN THE FIRST STEP OF QVC'S LATEST OFFER IT PROPOSES TO PAY 90 A SHARE IN CASH FOR 51 OF PARAMOUNT IN THE SECOND STEP QVC IS OFFERING COMMON AND PREFERRED STOCK VALUED AT 8696 FOR THE REMAINDER BASED ON FRIDAY'S CLOSING PRICE WITH 120 MILLION PARAMOUNT SHARES THE BID HAS A TOTAL VALUE OF 106 BILLION OR 8851 A SHARE VIACOM'S LATEST BID MEANWHILE OFFERS 85 IN CASH FOR 51 OF PARAMOUNT'S SHARES IN THE FIRST STEP OR 5 A SHARE LESS THAN QVC IN ITS SECOND STEP VIACOM IS OFFERING COMMON AND PREFERRED STOCK VALUED AT 7692 FOR THE REST THE VIACOM BID IS VALUED AT AN AVERAGE OF 8104 A SHARE OR 97 BILLION WHICH IS 747 A SHARE LESS THAN QVC'S BID BOTH QVC AND VIACOM WANT PARAMOUNT ONE OF THE FEW AVAILABLE ENTERTAINMENT AND MEDIA CONCERNS BECAUSE THEY SEE IT AS PIVOTAL IN PUSHING THEM INTO THE INTERACTIVE MULTIMEDIA AGE THE TWOMONTHOLD BATTLE HAS ESCALATED INTO THE MOST HEATED TAKEOVER FIGHT IN YEARS AS EACH SIDE HAS LINED UP DEEPPOCKETED ALLIES TO BOLSTER THEIR BIDS THE NEW QVC BID WAS IN LINE WITH WALL STREET EXPECTATIONS THOUGH IT DISAPPOINTED SOME TAKEOVERSTOCK SPECULATORS ONE MARK DICKSTEIN SAID THE 5ASHARE DIFFERENCE IS PROBABLY NOT BIG ENOUGH FOR THE COURT TO SUBSTITUTE ITS JUDGMENT FOR THAT OF THE BOARD ABOUT WHICH BID IS BETTER FOR SHAREHOLDERS HE ALSO SAID THAT WITH THE BELLSOUTH INVESTMENT QVC CAN AFFORD TO INCREASE ITS BID EVEN FURTHER PEOPLE FAMILIAR WITH THE QVCBELLSOUTH TALKS SAID THAT THE TWO HAD DISCUSSED COMING IN JOINTLY WITH A HIGHER ALLCASH BID BUT THE IDEA WAS DROPPED THEY SAID BECAUSE QVC DID NOT WANT TO TAKE ON THE ADDITIONAL DEBT THAT WOULD BE REQUIRED AND DID NOT WANT BELLSOUTH TO BE THAT BIG A PLAYER IN ITS BID FOR PARAMOUNT THE LOCKUP AGREEMENT THAT QVC IS CHALLENGING GIVES VIACOM A FLAT 100 MILLION FEE PLUS PROFITS ON 237 MILLION NEW PARAMOUNT SHARES IT AGREED TO BUY AT 6914 A SHARE AT 90 A SHARE THE PROVISION WOULD COST QVC NEARLY AN EXTRA 600 MILLION THOUGH QVC ADVISERS SAY THEY ARE CONFIDENT OF THEIR LEGAL CASE JOHN COFFEE A LAW PROFESSOR AT COLUMBIA UNIVERSITY SAYS QVC HAS ALMOST NO CHANCE OF WINNING ON THAT ISSUE IN COURT HE SAID PARAMOUNT APPROVED THE LOCKUP AGREEMENT AS A REASONABLE STEP TO INDUCE VIACOM TO MAKE ITS OFFER AND THE MOVE OBVIOUSLY HASN'T PRECLUDED A BIDDING WAR THAT HAS BENEFITED PARAMOUNT SHAREHOLDERS IN ARGUING THEIR CASES BOTH THE QVC SIDE AND PARAMOUNT AND VIACOM WILL RELY ON PRECEDENTSETTING RULINGS BY THE DELAWARE COURTS IN MAJOR TAKEOVER BATTLES OF THE 1980S QVC ACCORDING TO PEOPLE FAMILIAR WITH ITS POSITION WILL ARGUE THAT THE DEAL PARAMOUNT STRUCK WITH VIACOM TWO MONTHS AGO AMOUNTED TO A SALE OF THE ENTERTAINMENT AND PUBLISHING GIANT RATHER THAN A MORE LEGALLY DEFENSIBLE STRATEGIC MERGER AS THE TWO CONTEND AS SUCH QVC WILL ARGUE PARAMOUNT WAS OBLIGED TO FULFILL THE SOCALLED REVLON DUTY IN A 1986 LANDMARK CASE RESULTING FROM RONALD PERELMAN'S ACQUISITION OF REVLON INC THE COURT RULED THAT ONCE A COMPANY PUTS ITSELF UP FOR SALE IT MUST BE OPEN TO ALL BIDDERS WHO MIGHT OFFER A HIGHER PRICE ACCORDING TO QVC'S ADVISERS THE COMPANY INTENDS TO BOLSTER ITS ARGUMENT BY CITING A MORE RECENT CASE THIS ONE STEMMING FROM MR PERELMAN'S 1983 ACQUISITION OF TECHNICOLOR INC LAST MONTH THE DELAWARE SUPREME COURT RULED THAT A BOARD THAT FAILS TO FAIRLY CONSIDER ALL POTENTIAL SUITORS MAY HAVE TO PAY DAMAGES TO SHAREHOLDERS EVEN IF THE ULTIMATE SALES PRICE REPRESENTED A PREMIUM ON THEIR SHARES FOR ITS PART PARAMOUNT JOINED BY VIACOM WILL BE IN THE IRONIC POSITION OF RELYING ON THE VERY DELAWARE COURT RULING PARAMOUNT LOST WHEN IT TRIED TO BUST UP THE MERGER OF TIME INC AND WARNER COMMUNICATIONS INC IN 1989 WITH A HOSTILE 200ASHARE OFFER FOR TIME THE BASIS OF THAT ARGUMENT IS THAT THE VIACOM DEAL LIKE THE TIME WARNER DEAL WASN'T JUST AN EFFORT TO ATTRACT TOP DOLLAR BUT TO PROVIDE THE BEST LONGTERM VALUE TO SHAREHOLDERS VIACOM A DIVERSIFIED CABLE AND ENTERTAINMENT COMPANY PROVIDES THAT LONGTERM BENEFIT BETTER THAN HOME SHOPPING CHANNEL QVC PARAMOUNT MAINTAINS MR COFFEE THE LAW PROFESSOR SAYS THAT EVEN THOUGH THE REVLON CASE MAY REQUIRE PARAMOUNT DIRECTORS TO SEEK THE HIGHEST PRICE FOR SHAREHOLDERS THE TIME WARNER DECISION MAY GIVE THE PARAMOUNT BOARD THE DISCRETION TO FAVOR THE VIACOM BID PARTICULARLY IF THE BIDS ARE CLOSE AND CONSIST PARTLY OF STOCK HE SAYS THE BOARD CAN MAKE A JUDGMENT ABOUT WHICH BIDDER'S STOCK OFFERS MORE LONGTERM VALUE TO PARAMOUNT HOLDERS FOR THAT REASON MR COFFEE SAYS QVC CANNOT WIN BY A NOSE BUT VIACOM CAN QVC'S COURT CHALLENGE ALSO SEEKS TO STRIKE DOWN PARAMOUNT'S POISON PILL AN ANTITAKEOVER DEFENSE ERECTED IN 1988 THAT WOULD ALLOW SHAREHOLDERS TO ACQUIRE STOCK IN A COMBINED QVCPARAMOUNT AT HALF PRICE QVC IS RELYING ON PREVIOUS DELAWARE COURT RULINGS THAT SUCH PROVISIONS MAY ILLEGALLY IMPEDE THE BIDDING PROCESS QVC HAS ALREADY CLEARED ANOTHER MAJOR IMPEDIMENT TO ITS BID THE FEDERAL TRADE COMMISSION HAD SIGNALED ITS INTENTION TO BLOCK QVC'S BID BECAUSE QVC WAS BACKED BY TELECOMMUNICATIONS INC THE POWERFUL CABLETV GIANT THAT HAS AGREED TO BE ACQUIRED BY BELL ATLANTIC CORP TO SATISFY THE FTC TCI'S AFFILIATE LIBERTY MEDIA INC ON THURSDAY AGREED TO SHED ITS QVC HOLDINGS SIMULTANEOUSLY BELLSOUTH AGREED TO INVEST 15 BILLION IN QVC INCLUDING THE ASSUMPTION OF A 500 MILLION COMMITMENT BY LIBERTY TO BACK QVC'S PARAMOUNT BID 9311150049 931115 BUSINESS BRIEF ALLIEDSIGNAL INC PURCHASE OF SUNDSTRAND UNIT FOR 195 MILLION COMPLETED ALLIEDSIGNAL INC SAID IT COMPLETED THE ACQUISITION OF SUNDSTRAND CORP'S DATA CONTROL BUSINESS FOR 195 MILLION IN ADDITION TO ITS HEADQUARTERS AND A MANUFACTURING SITE IN REDMOND WASH THE DATA CONTROL BUSINESS HAS MANUFACTURING FACILITIES IN MOSES LAKE WASH AND PRESCOTT ARIZ WC MILLER FORMERLY PRESIDENT OF ALLIEDSIGNAL AIRLINE SERVICES WAS NAMED VICE PRESIDENT AND GENERAL MANAGER OF THE REDMOND OPERATIONS THE DATA CONTROL BUSINESS WITH 1992 SALES OF 194 MILLION MAKES AVIONICS FOR DATA MANAGEMENT GROUND HAZARD AVOIDANCE GENERAL AVIATION COMMUNICATIONS NAVIGATION AND INSTRUMENTATION ALLIEDSIGNAL BASED IN MORRIS TOWNSHIP NJ IS INVOLVED IN AEROSPACE AND AUTOMOTIVE PRODUCTS CHEMICALS FIBERS PLASTICS AND ADVANCED MATERIALS SUNDSTRAND ROCKFORD ILL SAID IT WILL HAVE A SIGNIFICANT NONRECURRING GAIN FROM THE SALE AND WILL USE PROCEEDS MAINLY TO REPAY DEBT THE COMPANY MAKES A VARIETY OF AEROSPACE AND INDUSTRIAL PRODUCTS 9311150048 931115 WHAT'S NEWS BUSINESS AND FINANCE QVC SWEETENED ITS BID FOR PARAMOUNT COMMUNICATIONS TO 106 BILLION TOPPING VIACOM'S 97 BILLION OFFER QVC WILL TRY TO PERSUADE THE DELAWARE CHANCERY COURT TOMORROW TO NULLIFY A SOCALLED LOCKUP AGREEMENT THAT WOULD REQUIRE QVC TO PAY VIACOM ROUGHLY 600 MILLION ON TOP OF THE ACQUISITION PRICE FOR PARAMOUNT UAL REJECTED A PROPOSAL BY ITS PILOTS AND MACHINISTS TO ACQUIRE A 60 STAKE IN THE CARRIER INDICATING THAT THE AIRLINE INDUSTRY COULD BE ENTERING A PERIOD OF STORMIER LABOR RELATIONS UAL IS EXPECTED TO SHED HIGHCOST OPERATIONS STEPS FOR WHICH THE MACHINISTS THREATENED TO RETALIATE JOSEPH PERELLA IS JOINING MORGAN STANLEY AS A MANAGING DIRECTOR IN THE INVESTMENT BANKING DIVISION AND A MEMBER OF THE OPERATING COMMITTEE PRUDENTIAL INSURANCE'S INVOLVEMENT IN LIMITED PARTNERSHIPS MARKETED BY ITS PRUBACHE BROKERAGE UNIT IS UNDER INVESTIGATION BY THE US ATTORNEY'S OFFICE IN MANHATTAN THE MAJOR NETWORKS ARE ALLOWED TO TAKE FINANCIAL INTERESTS IN SHOWS PRODUCED BY OUTSIDERS A JUDGE RULED DEALING A SEVERE BLOW TO HOLLYWOOD STUDIOS THAT HAD OPPOSED THE CHANGE RETAIL SALES JUMPED 15 IN OCTOBER THE LARGEST INCREASE SINCE APRIL AND THE SEVENTH RISE IN A ROW SOFTWARE COMPANIES ARE ASSERTING BROAD CLAIMS TO INNOVATIONS IN THE FORM OF PATENTS EFFORTS THAT COULD RAISE COSTS IN THE MULTIMEDIA FIELD A NEW PATENT FOR A TRIBUNE UNIT COULD SPUR A BATTLE WITH MICROSOFT OVER MULTIMEDIA PROGRAMS THAT STORE AND RETRIEVE DIFFERENT TYPES OF DATA NOVELL IS SEARCHING FOR A SUCCESSOR TO CHIEF EXECUTIVE RAYMOND NOORDA WHO INDICATED HE WILL STEP DOWN AFTER HELPING TO BOOST THE SOFTWARE FIRM TO DOMINANCE IN THE NETWORKING MARKET HE IS EXPECTED TO STAY AS CHAIRMAN JAPAN'S AOKI IS IN THE FINAL STAGES OF AUCTIONING OFF MOST OR ALL OF ITS WESTIN HOTELS & RESORTS CHAIN WITH FINAL BIDS WELL BELOW AOKI'S ORIGINAL ASKING PRICE OF ABOUT 700 MILLION THE SAVINGSANDLOAN CLEANUP AGENCY IS AT A NEAR STANDSTILL PLAGUED BY UNFILLED POSITIONS DISPUTES OVER ASSET SALES AND A HOLDUP IN FUNDS A STRIKE AGAINST CATERPILLAR BY UNITED AUTO WORKERS UNION MEMBERS WAS CALLED OFF AFTER THREE DAYS US MANUFACTURERS INCREASED THE NUMBER OF INVESTMENT PROJECTS ABROAD 8 IN 1992 BUT CURBED SUCH VENTURES IN MEXICO BY 43 A SURVEY SHOWED WHITTLE FACES A BIG BATTLE TO KEEP DRUG ADS FOR ITS MEDICAL NEWS NETWORK AS POLITICAL AND COST PRESSURES MOUNT ON PHARMACEUTICAL FIRMS SCIENTIFICATLANTA IS EXPECTED TO ANNOUNCE TODAY THAT IT DEVELOPED A PRODUCT TO ALLOW CONSUMERS TO MAKE PHONE CALLS OVER CABLETV SYSTEMS JAPAN'S TOP FIVE STEELMAKERS AND TWO OF ITS AUTO MAKERS POSTED LARGE FIRSTHALF LOSSES REFLECTING A STRONG YEN AND SLUMPING DEMAND AT HOME CANADIAN BUSINESS LEADERS ARE URGING THAT CANADA AND MEXICO GO AHEAD ON THEIR OWN WITH THE NORTH AMERICAN FREE TRADE PACT IF THE US DROPS OUT OF THE THREENATION ACCORD RONALD PERELMAN'S MACANDREWS & FORBES BOUGHT A MINORITY STAKE IN INFOMERCIAL COMPANY GUTHYRENKER THE MOVE PUTS PERELMAN INTO THE GROWING INFOMERCIAL BUSINESS AT A TIME WHEN HE IS KNOWN TO BE LOOKING TO PURCHASE MEDIA PROPERTIES CHINA'S SHANGHAI SHENHUA ACCEPTED THE ACQUISITION OF A STAKE IN ITSELF BY SHENZHEN VANKE COMPLETING CHINA'S FIRST STOCKMARKET MERGER GENERAL MOTORS AND VOLKSWAGEN ARE CLOSE TO AN OUTOFCOURT SETTLEMENT TO RESOLVE A DISPUTE OVER VW'S EMPLOYMENT OF SEVEN FORMER GM MANAGERS PHILIP MORRIS RAISED ITS CIGARETTE PRICES MATCHING THE INCREASE OF FIVE CENTS A PACK TAKEN BY ITS RIVALS THE MOVE SIGNALS STABILIZING PRICES WHICH SOME INVESTORS SAID WILL LEAD PHILIP MORRIS TO BOOST ITS DIVIDEND BONDS LEHMAN BROTHERS TREASURY INDEX 553867 UP 2755 COMMODITIES OIL 1672 A BARREL OFF 18 CENTS DOW JONES FUTURES INDEX 13367 OFF 046 SPOT INDEX 12217 UP 042 DOLLAR 10575 YEN OFF 061 16850 MARKS OFF 00080 9311150047 931115 THE OUTLOOK NAFTA WIN IS CRUCIAL TO ASIA TALKS SUCCESS BY ALAN MURRAY WASHINGTON HERE IS A QUESTION TO TEST YOUR SAVVY AS AN INVESTOR IF CONGRESS REJECTS THE FREETRADE AGREEMENT WITH MEXICO ON WEDNESDAY SHOULD YOU MANY OF WALL STREET'S MOST ASTUTE INVESTORS SAY THE ANSWER IS B THE SHOCK OF A NO VOTE WILL PROBABLY CAUSE THE MEXICAN MARKET TO DROP BUT FOR THE SMART MONEY THAT WILL BE AN OPPORTUNITY TO BUY CHEAP WITH OR WITHOUT NAFTA MEXICO IS PRETTY MUCH THE SAME STORY SAYS CARRIE SCHLOSS COMANAGER OF THE KEMPER INTERNATIONAL FUND THEY'LL CONTINUE TO OPEN UP THEIR ECONOMY IT'S JUST A QUESTION OF THE DEGREE OF RAPIDITY LINCOLN ANDERSON DIRECTOR OF GLOBAL RESEARCH FOR THE FIDELITY FUNDS SAYS THE SAME THE MEXICAN ECONOMY AND MEXICAN ECONOMIC POLICY WILL GO FORWARD WITH OR WITHOUT NAFTA ONE OF THE IRONIES OF INTERNATIONALTRADE AGREEMENTS IS THAT THE HARDFOUGHT CONCESSIONS COUNTRIES MAKE ARE USUALLY IN THEIR OWN INTEREST UNDER NAFTA MEXICO HAS AGREED TO DROP ITS MAXIMUM TARIFF FROM 20 TO ZERO BUT THE MEXICAN GOVERNMENT HAS ALREADY UNILATERALLY CUT THE MAXIMUM TARIFF FROM A PEAK OF 100 IN 1985 IN PEROTTHINK THAT MAY MAKE MEXICO THE ULTIMATE PATSY BUT AS MEXICANS HAVE LEARNED UNILATERAL TRADE LIBERALIZATION HAS TURNED THEIR ECONOMY FROM A BASKET CASE TO A SUCCESS STORY WHY TURN BACK NOW EVEN IF NAFTA FAILS TO BE SURE THERE ARE SERIOUS RISKS TO MEXICO IF NAFTA GOES DOWN A DEFEAT COULD ERODE THE TENUOUS POLITICAL SUPPORT FOR ECONOMIC REFORM AND LEAD TO A REVERSAL OF THE TRENDS OF THE PAST FIVE YEARS MIT ECONOMIST RUDIGER DORNBUSCH WHO HAS CLOSE TIES TO MEXICAN FINANCE MINISTER PEDRO ASPE SAYS A RUN ON THE PESO COULD FORCE MEXICO TO DEVALUE ITS CURRENCY BY 20 FURTHER IMPOVERISHING ITS CITIZENS AND A SLOWDOWN IN INVESTMENT AS WELL AS DIMINISHED ACCESS TO US MARKETS IS LIKELY TO CUT MEXICAN GROWTH BY ONE OR TWO PERCENTAGE POINTS IN EACH OF THE NEXT FEW YEARS STILL MEXICANS HAVE LEARNED THE LESSON THAT PROSPERITY IS MADE AT HOME AND NOW THAT THEY HAVE TASTED THE BENEFITS OF REFORM THERE IS A GOOD CHANCE THEY WON'T TURN BACK IF THE DIRECT BENEFITS OF NAFTA FOR MEXICO ARE SMALL THOSE FOR THE US ARE MINUSCULE THE MEXICAN ECONOMY IS ONLY ONETWENTIETH THE SIZE OF THE US ECONOMY AND WHILE THE AGREEMENT COULD LEAD TO MORE JOBCREATING EXPORTS TO MEXICO AN INFLATIONFIGHTING FEDERAL RESERVE COULD WELL TAKE THOSE BENEFITS AWAY ECONOMISTS PREDICT A SMALL BOOST IN AMERICAN INCOMES WILL EVENTUALLY RESULT FROM THE INCREASED EFFICIENCIES OF OPEN TRADE WITH MEXICO BUT EVEN MR DORNBUSCH AN ARDENT PROPONENT OF NAFTA ACKNOWLEDGES THAT THE INCREASE IN US GROWTH IS PROBABLY CLOSE TO ZERO A ROUNDING ERROR SO WHY THE BIG FUSS IN WASHINGTON NAFTA HAS BECOME AN EPIC STRUGGLE PITTING AS THE NOWTIRED REFRAIN GOES EVERY LIVING FORMER PRESIDENT EVERY LIVING NOBELPRIZE WINNER IN ECONOMICS ETC AGAINST ARMIES OF WORKING PEOPLE WHO ARE CONVINCED THE TREATY WILL ROB THEM OF THEIR FUTURE THE STAKES ARE DESCRIBED IN GARGANTUAN TERMS AMONG OTHERS VICE PRESIDENT AL GORE IN LAST WEEK'S DEBATE WITH NAFTA OPPONENT ROSS PEROT COMPARED A REJECTION OF THE TRADE PACT TO THE SMOOTHAWLEY TARIFF THAT HELPED PUSH THE US INTO THE GREAT DEPRESSION IF NAFTA HAD NEVER BEEN NEGOTIATED FORMER PRESIDENTS AND NOBEL LAUREATES WOULDN'T LOSE MUCH SLEEP OVER ITS ABSENCE BUT IT HAS BEEN AND THEREIN LIES ITS IMPORTANCE IT HAS BECOME A SYMBOL OF SOMETHING BIGGER THAN ITSELF AN EARLY AND HIGHLY VISIBLE SIGN OF THE DIRECTION THAT THE US WILL TAKE IN SORTING OUT THE CONFUSION OF THE POSTCOLD WAR WORLD WILL THE US HEAD INTO ECONOMIC DECLINE OR WILL IT TAKE THE TOUGH MEASURES NEEDED TO GENERATE GROWTH IN LIVING STANDARDS OVER THE NEXT TWO DECADES THAT EXCEEDS THE SORRY PERFORMANCE OF THE LAST TWO DECADES WILL IT TURN INWARD OR CONTINUE TO PLAY A PIVOTAL ROLE IN MAINTAINING AN OPEN WORLD ECONOMY NAFTA IS ONLY A TINY STEP BUT AN IMPORTANT SIGN THAT THE NATION IS WILLING TO MOVE IN THE RIGHT DIRECTION THE SYMBOLIC POWER OF THE NAFTA VOTE WILL BE EVIDENT JUST TWO DAYS AFTER IT OCCURS WHEN PRESIDENT CLINTON MEETS IN SEATTLE WITH THE LEADERS OF MORE THAN A DOZEN ASIAN NATIONS MR CLINTON'S GOAL IS TO JUMPSTART AN ASIANPACIFIC ECONOMIC COOPERATION GROUP KNOWN AS APEC WHICH HE HOPES WILL EVENTUALLY BECOME A PACIFICBASED ECONOMIC COMMUNITY HE AND HIS AIDES HAVE RIGHTLY FOCUSED ON ASIA AS THE MOST DYNAMIC REGION OF THE WORLD WITH A COMBINED ECONOMY OF 61 TRILLION LARGER THAN THE 57 TRILLION OF THE US AND DWARFING MEXICO'S 200 BILLION GROSS DOMESTIC PRODUCT SURE WE HAVE BIG BIG TRADE FLOWS WITH EUROPE SAYS BOWMAN CUTTER DEPUTY ASSISTANT TO PRESIDENT CLINTON FOR ECONOMIC POLICY AND WE ARE GOING TO HAVE A LOT OF ECONOMIC GROWTH WITH LATIN AMERICA BUT BETWEEN NOW AND THE YEAR 2000 THE APEC NATIONS ARE GOING TO GROW BY AN AMOUNT THAT'S THE EQUIVALENT OF THE ENTIRE US ECONOMY IF PRESIDENT CLINTON GOES TO SEATTLE WITH A NAFTA VICTORY UNDER HIS BELT HE WILL BE IN A STRONG POSITION TO FURTHER HIS VISION OF AN ASIAN ECONOMIC COMMUNITY IN WHICH THE US PLAYS A CENTRAL ROLE IF HE LOSES NAFTA THE OTHER ASIAN NATIONS WILL SEE LITTLE REASON TO FOLLOW MR CLINTON'S VISION IN THE LONG RUN THAT COULD PROVE FAR MORE IMPORTANT THAN NAFTA ITSELF 9311150046 931115 MOVIES FAMILY FILMS WILL STAR THIS CHRISTMAS BY THOMAS R KING STAFF REPORTER OF THE WALL STREET JOURNAL HOLLYWOOD JUST A WEEK AGO WHOOPI GOLDBERG AND THE CAST OF SISTER ACT 2 GOT TOGETHER ON A SOUNDSTAGE HERE TO SHOOT ONE MORE MUSICAL NUMBER FOR THE MOVIE SEQUEL WHICH OPENS DEC 10 PRINCIPAL PHOTOGRAPHY WRAPPED IN AUGUST BUT THE FILMMAKERS AND EXECUTIVES AT WALT DISNEY CO THOUGHT THE MOVIE NEEDED AN EXTRA JOLT AT THE END THEY HOPE THE NEWLY FILMED NUMBER MS GOLDBERG AND A CHORUS OF NUNS SINGING AIN'T NO MOUNTAIN HIGH ENOUGH WILL SEND AUDIENCES OUT INTO THE STREET HUMMING AND BUZZING ABOUT THE FILM HOLLYWOOD EXECUTIVES ARE STILL SHIFTING RELEASE DATES AND DOING LASTMINUTE RETOOLING TO GET READY FOR THE IMPORTANT HOLIDAY MOVIE SEASON ALTHOUGH THE PERIOD LOOKS PROMISING ON PAPER WITH STUDIOS BANKING ON FAMILY MOVIES LIKE NEVER BEFORE IT'S GOING TO BE HARD FOR THE INDUSTRY TO TOP LAST YEAR'S BLOCKBUSTER HOLIDAY PERFORMANCE A STRING OF HITS THEN INCLUDING ALADDIN AND A FEW GOOD MEN HELPED STUDIOS SELL A RECORD 9196 MILLION OF TICKETS DURING THE SEVENWEEK HOLIDAY PERIOD UP NEARLY 7 FROM THE 1991 TOTAL ONE BIG PROBLEM FACING THE INDUSTRY THIS YEAR IS TIMING WITH CHRISTMAS FALLING ON A SATURDAY THE INDUSTRY MAY LOSE 30 MILLION TO 40 MILLION IN GROSS REVENUE THAT IT MIGHT HAVE HAD IF THE HOLIDAY HAD FALLEN ON A WEEKDAY ACCORDING TO BOXOFFICE ANALYST AD MURPHY OF THE HOLLYWOOD REPORTER FRIDAY NIGHTS ARE HUGE AT THEATERS BUT ON DEC 24 MANY MOVIEGOERS WILL BE HOME TRIMMING TREES EVEN IF THIS YEAR'S HOLIDAY CROP DOESN'T SET A RECORD THOUGH BOXOFFICE REVENUE FOR THE FULL YEAR WILL SET ONE SHATTERING THE 1989 TALLY OF 503 BILLION MR MURPHY SAYS HE PREDICTS FINAL 1993 GROSS OF AT LEAST 53 BILLION CONTRIBUTING MIGHTILY UNIVERSAL PICTURES' JURASSIC PARK AFTER CATCHING FAMILY MOVIE FEVER A YEAR AGO NEARLY EVERY STUDIO IS COURTING MOM DAD AND THE KIDS THIS YEAR NEWS CORP'S FOX HAS PERHAPS THE MOST TALKEDABOUT PICTURE MRS DOUBTFIRE IT CASTS ROBIN WILLIAMS AS A MAN WHO SPLITS UP WITH HIS WIFE SALLY FIELD BUT RETURNS DRESSED UP AS A 60YEAROLD BRITISH WOMAN SO HE CAN BE CLOSE TO HIS KIDS PARAMOUNT PICTURES PLANS ADDAMS FAMILY VALUES IN WHICH THE KOOKY CLAN RAISES A BABY PUBERT AND SINCE DISNEY ISN'T RELEASING A TRADITIONAL ANIMATED FILM TWO OTHER STUDIOS ARE GIVING ANIMATION A TRY WARNER BROS WITH BATMAN THE MASK OF PHANTASM AND UNIVERSAL WITH WE'RE BACK A DINOSAUR'S STORY THE SCHEDULE MAY SEEM TO BE JAMMED WITH FAMILY PICTURES BUT STUDIOS BELIEVE THERE IS ROOM FOR EVEN MORE LAST WEEK WARNER MOVED INTO THE CHRISTMAS SCHEDULE A WALTER MATTHAU AND JACK LEMMON COMEDY WHOSE TITLE SAYS IT ALL GRUMPY OLD MEN A TRAILER FOR THE MOVIE HASN'T EVEN RUN IN THEATERS TO BUILD AWARENESS BUT THE TIME WARNER INC STUDIO DOESN'T SEE A PROBLEM THERE'S A BIG APPETITE OUT THERE SAYS ROBERT G FRIEDMAN PRESIDENT OF WORLDWIDE ADVERTISING AND PUBLICITY IF THIS PAST WEEKEND IS ANY INDICATION THE FAMILY AUDIENCE APPEARS TO BE WILLING TO LINE UP EVEN FOR MOVIES THAT GET NEGATIVE REVIEWS MANY CRITICS PANNED DISNEY'S THE THREE MUSKETEERS BUT IT WAS NONETHELESS THE NO 1 MOVIE OF THE WEEKEND POSTING AN ESTIMATED GROSS OF 115 MILLION AT MORE THAN 2000 THEATERS THIS IS AN AUDIENCE PICTURE SAYS DICK COOK DISNEY'S PRESIDENT OF DISTRIBUTION THIS IS A MOVIE THAT ISN'T GOING TO BE REVIEWSENSITIVE EXHIBITORS ARE ALSO EXCITED ABOUT MORE ADULT FILMS LIKE PHILADELPHIA THE FIRST MAJORSTUDIO MOVIE ABOUT AIDS WHICH STARS TOM HANKS AND THE PELICAN BRIEF BASED ON THE NOVEL BY JOHN GRISHAM AND STARRING JULIA ROBERTS THE MARKET HAS BEEN ABOUT NICHES SAYS GREGORY RUTKOWSKI VICE PRESIDENT OF OPERATIONS AT AMC THEATERS AND THE STUDIOS HAVE DONE A TERRIFIC JOB OF TARGETING THEM PERFECTLY WHILE EXHIBITORS ARE UPBEAT ABOUT THE VARIETY THE PROFIT PICTURE FOR STUDIOS REMAINS MUDDY FILM EXECUTIVES CAN'T SHOW A LOT OF CONVINCING EVIDENCE THAT THEY ARE LEARNING TO CONTROL PRODUCTION COSTS ADDAMS FAMILY VALUES MRS DOUBTFIRE AND CARLITO'S WAY ALL HAVE ESTIMATED COSTS IN THE 40 MILLION RANGE WELL ABOVE THE INDUSTRY AVERAGE OF 288 MILLION WHEN WORLDWIDE MARKETING INTEREST AND OVERHEAD EXPENSES ARE FACTORED IN THE COSTS OF SUCH FILMS CAN EASILY BALLOON TO 70 MILLION OR 80 MILLION AN EXECUTIVE INVOLVED WITH UNIVERSAL'S CARLITO'S WAY THE AL PACINO THRILLER THAT OPENED STRONGLY THIS PAST WEEKEND NOTES THAT THE STUDIO HEDGED ITS BET ON THAT FILM BY HAVING INDEPENDENT CAPELLA FILMS PUT UP NEARLY 45 OF THE PRODUCTION COSTS IF IT'S A BIG HIT THEY'LL GET A BIG RETURN ON IT THE EXECUTIVE SAYS WALL STREET ANALYSTS ESTIMATE THAT WARNER'S A PERFECT WORLD WHICH STARS CLINT EASTWOOD AND KEVIN COSTNER WAS MADE FOR UNDER 30 MILLION BUT THAT FIGURE DOESN'T INCLUDE ALL OF THE HUGE SALARY COSTS ONE OR BOTH OF THE STARS IS BELIEVED TO HAVE STRUCK DEALS IN WHICH THEY WILL BE PAID A HEFTY PERCENTAGE OF THE GROSS MANY OTHER FILMS WILL BE BACKED BY BIG PROMOTION BUDGETS INCLUDING COLUMBIA PICTURES' GERONIMO AN AMERICAN LEGEND WHICH ALSO HAD PRODUCTION COSTS OF 40 MILLION AND UNIVERSAL'S SCHINDLER'S LIST A MOVIE ABOUT THE HOLOCAUST DIRECTED BY STEVEN SPIELBERG COLUMBIA IS A UNIT OF SONY CORP UNIVERSAL IS A UNIT OF MATSUSHITA ELECTRIC INDUSTRIAL CO'S MCA THERE IS SOME CONCERN ABOUT THIS YEAR'S SEQUELS WHICH ALSO INCLUDE BEETHOVEN'S 2ND AND WAYNE'S WORLD 2 ALL BUT ADDAMS FAMILY VALUES HAVE SWITCHED DIRECTORS I TEND TO HAVE A HIGHER DEGREE OF CONFIDENCE IF THE ORIGINAL DIRECTOR WORKS ON THE SEQUEL SAYS ALAN KASSAN AN ANALYST AT MORGAN STANLEY SOME PEOPLE WONDER WHETHER THE WAYNE'S WORLD PHENOMENON HAS PEAKED IS THE TEEN CROWD TRULY PINING FOR WAYNE'S WORLD 2 OTHERS SAY THAT WHILE THE ADDAMS FAMILY WAS INDEED A BIG HIT IT LEFT MANY CRITICS AND MOVIEGOERS COLD BECAUSE IT WAS JUST A GIMMICKLADEN FILM WITH A THIN STORY BOTH WERE RELEASED BY PARAMOUNT A UNIT OF PARAMOUNT COMMUNICATIONS INC SCOTT RUDIN WHO PRODUCED BOTH ADDAMS FAMILY VALUES AND SISTER ACT 2 PROMISES THAT VALUES HAS A VERY STRONG STORY WHICH INVOLVES THE NEW BABY AND A NANNY WITH DESIGNS ON UNCLE FESTER WE KNEW WE DIDN'T HAVE A STORY WHILE WE WERE MAKING THE FIRST ONE BUT IT DIDN'T BOTHER ME BECAUSE WE FELT IT WAS ABOUT INTRODUCING THE CHARACTERS HE SAYS SINCE THE OPPOSITE IS TRUE NOW THE PRODUCER JOKES HE ALMOST TITLED THE FILM THE ADDAMS FAMILY THIS TIME A PLOT 9311150045 931115 BUSINESS BRIEF CML GROUP INC CHAIRMAN SAYS PROFIT ROSE IN THE FISCAL FIRST QUARTER CML GROUP INC BOLSTERED BY HIGHER SALES SAID IT IS COMFORTABLE WITH EXPECTATIONS THAT IT WILL REPORT 13 CENTS A SHARE IN EARNINGS FOR ITS FIRST QUARTER UP FROM 11 CENTS A SHARE A YEAR EARLIER THE ACTON MASS RETAILER AND MAKER OF EXERCISE MACHINES BACKED ANALYSTS EXPECTATIONS FOR THE QUARTER ENDED OCT 30 CML PLANS TO RELEASE ITS EARNINGS NOV 22 CML ADDED THAT IT IS SECURE WITH EARNINGS ESTIMATES OF 137 TO 138 A SHARE FOR THE YEAR THAT WILL END JULY 31 COMPARED WITH 111 A SHARE IN FISCAL 1993 CML EXPECTS SALES FOR THE YEAR TO REACH AS HIGH AS 800 MILLION UP FROM 6455 MILLION IN FISCAL 1993 CHARLES M LEIGHTON CHAIRMAN MADE THE COMMENTS IN AN INTERVIEW CML'S NORDICTRACK DIVISION WHICH MAKES EXERCISE EQUIPMENT CONTINUES TO DRIVE EARNINGS THE COMPANY SAID 9311150044 931115 BUSINESS BRIEF ECOGEN INC BIOTECHNOLOGY CONCERN POSTS 23 MILLION 3RDQUARTER LOSS ECOGEN INC NARROWED ITS THIRDQUARTER LOSS AIDED BY AN INCREASE IN REVENUE FROM SALES OF CERTAIN BIOLOGICAL PESTCONTROL PRODUCTS THE AGRICULTURAL BIOTECHNOLOGY CONCERN WHICH IS BASED IN LANGHORNE PA POSTED A LOSS OF 23 MILLION OR 13 CENTS A SHARE IN THE QUARTER COMPARED WITH A LOSS OF 62 MILLION OR 37 CENTS A SHARE A YEAR EARLIER REVENUE ROSE 56 TO 47 MILLION FROM 3 MILLION A YEAR EARLIER THE 1992 NET INCOME INCLUDED A 39 MILLION SPECIAL CHARGE RELATED TO A RESEARCH AGREEMENT AND AN ACQUISITION THE YEARTODATE NET LOSS WAS 88 MILLION OR ABOUT 51 CENTS A SHARE COMPARED WITH A LOSS OF 12 MILLION OR 71 CENTS A SHARE IN THE YEAREARLIER PERIOD REVENUE MORE THAN DOUBLED TO 148 MILLION FROM 69 MILLION ECOGEN CLOSED FRIDAY AT 650 DOWN 125 CENTS IN NASDAQ STOCK EXCHANGE TRADING 9311150043 931115 HE EXPECTED WALLS IN JERICHO BUT FOUND A WELCOME INSTEAD OFFER TO INVEST AND CREATE JOBS OPENS DOORS TO WEST BANK FOR RETURNING PALESTINIAN BY PETER WALDMAN STAFF REPORTER OF THE WALL STREET JOURNAL THE FIRST SIGN OF TROUBLE WAS THE ROAR OF JET FIGHTERS THUNDERING ACROSS THE JORDAN RIVER VALLEY THRONGS OF ARAB REFUGEES BEGAN STREAMING DOWN FROM THE JUDEAN HILLS IT WAS EARLY JUNE 1967 THE START OF THE ARABISRAELI SIX DAY WAR IN THE WEST BANK TOWN OF JERICHO A 13YEAROLD BOY NAMED MOHAMMED ATIYEH HEARD FLEEING RELATIVES TELL OF WHOLE VILLAGES CRUSHED UNDER ISRAELI TANKS AS THE ONSLAUGHT APPROACHED THE ATIYEH FAMILY ESCAPED ACROSS THE JORDAN RIVER IN A VEGETABLE TRUCK ALONG THE WAY MOHAMMED SAW A NEIGHBOR'S CAR BESIDE THE ROAD CHARRED BLACK BODIES STILL INSIDE SUCH ARE THE IMAGES OF WAR THAT STALKED MOHAMMED ATIYEH AS HE RETURNED TO JERICHO IN SEPTEMBER CHASING VISIONS OF PEACE FOLLOWING THE SIGNING OF THE PALESTINIANISRAELI PEACE ACCORD MR ATIYEH NOW A 38YEAROLD BUSINESSMAN BASED IN AMMAN JORDAN WAS AMONG THE FIRST ARAB REFUGEES TO GO HOME FOR A CLOSE LOOK AT INVESTMENT OPPORTUNITIES WHAT HE SAW ON HIS 22DAY VISIT AND MORE IMPORTANT WHAT HE HEARD IN TALKS WITH ISRAELI MILITARY OFFICIALS ASTONISHED HIM THE ISRAELI OFFICERS WERE FRIENDLY COURTEOUS AND VERY HELPFUL SAYS MR ATIYEH SIPPING BEER IN A PUB IN AMMAN IF PEACE HAS A CHANCE IN AN AUTONOMOUS ENTITY CALLED PALESTINE IT ISN'T JUST THE YASSER ARAFATS AND YITZHAK RABINS WHO WILL MAKE IT WORK EQUALLY IMPORTANT ARE THE MOHAMMED ATIYEHS AND HIS NEW COHORTS IN THE ISRAELI MILITARY OLD FOES SUDDENLY THRUST TOGETHER IN THE QUEST FOR RECONCILIATION IF THEY CAN'T GET ALONG THE INTERIM SELFGOVERNMENT IN THE WEST BANK AND GAZA STRIP WILL HAVE LITTLE CHANCE OF GENERATING THE PRIVATE INVESTMENT AND JOBS IT NEEDS TO PACIFY THE MANY ARABS WHO THINK THE PALESTINE LIBERATION ORGANIZATION SOLD OUT FOR A SONG THIS IS THE STORY OF ONE REFUGEE'S JOURNEY HOME AND HOW BY THE END OF THE TRIP HE WAS DETERMINED TO INVEST 1 MILLION IN JERICHO LIKE MOST PALESTINIAN FAMILIES THE ATIYEHS DISPERSED ACROSS THE GLOBE OVER THE PAST HALFCENTURY AFTER THE FOUNDING OF ISRAEL IN 1948 AND THE ENSUING WAR THEY FLED WEST JERUSALEM FOR JERICHO THEN PART OF JORDAN WHERE MOHAMMED'S FATHER REOPENED HIS AGRICULTURALMARKETING BUSINESS IN 1967 THEY FLED TO AMMAN THEY FOUND WORK WHERE THEY COULD MOHAMMED WANTED TO BE AN AIRLINE PILOT IN 1973 HE ENROLLED IN AVIATION SCHOOL IN WINSTONSALEM NC BUT DROPPED OUT TO OPEN A PALESTINIAN CRAFTS SHOP IN THE LATE 1970S HE RETURNED TO JORDAN TO JOIN THE FAMILY AGRICULTURAL BUSINESS HE SOLD IRRIGATION EQUIPMENT MARRIED A PALESTINIAN AND BOUGHT 50 ACRES OF FARMLAND ACROSS THE JORDAN RIVER FROM JERICHO AS CLOSE AS I COULD GET HE SAYS GETTING EVEN CLOSER BECAME AN OBSESSION IN THE MID1980S MR ATIYEH VISITED THE WEST BANK TWICE ON FAMILYREUNIFICATION VISAS THAT ALLOW ARABS BRIEF VISITS TO RELATIVES IN ISRAELIOCCUPIED LANDS ON THE SECOND VISIT IN 1987 HE FELL IN LOVE WITH AN ELDERLY AUNT'S HOME IN THE OLD CITY OF JERUSALEM THE HOUSE BUILT AROUND A COURTYARD JUST OFF THE MAIN THOROUGHFARE OF THE WALLED CITY AFFORDS VIEWS OF THE WHOLE WORLD GOING BY FROM ITS DOMED BEDROOMS MR ATIYEH SAYS TERRIFIED THAT JEWISH SETTLERS WOULD OCCUPY THE ANCESTRAL HOME MR ATIYEH MADE UP HIS MIND THEN TO MOVE HIS FAMILY ANYWHERE WITH ACCESS TO JERUSALEM THAT OF COURSE WAS IMPOSSIBLE FOR A PALESTINIAN REFUGEE THE PEACE PACT CHANGED EVERYTHING TWO WEEKS AFTER THE ARAFATRABIN HANDSHAKE MR ATIYEH WAS BACK IN THE WEST BANK OSTENSIBLY TO VISIT RELATIVES HIS REAL MISSION TO STUDY THE FEASIBILITY OF BUILDING AN IRRIGATIONEQUIPMENT FACTORY IN AUTONOMOUS JERICHO HE SPENT TWO WEEKS MAKING THE ROUNDS OF THE PALESTINIAN INSTITUTES AND WELFARE ASSOCIATIONS THAT HAD LONG SERVED TO THINLY DISGUISE VARIOUS PLO OFFICES IN THE OCCUPIED TERRITORIES THOUGH THESE GROUPS HAD SUDDENLY SPRUNG FROM THE SHADOWS AFTER THE PEACE PACT NONE HAD ANY INFORMATION ABOUT INVESTMENT PROCEDURES SO MR ATIYEH CALLED THE MILITARY GOVERNOR OF JERICHO THE ISRAELI OFFICIAL WHO REMAINS NOMINALLY IN CHARGE OF THE LOCAL ECONOMY UNTIL NEXT SUMMER'S HANDOVER OF POWER TO AN ELECTED PALESTINIAN COUNCIL HIS DEPUTY GOVERNOR PICKED UP THE PHONE IN CRISP ARABIC THE ISRAELI ASKED MR ATIYEH ABOUT HIS BACKGROUND AND PROMISED TO GET BACK TO HIM THAT WAS ON A MONDAY BY TUESDAY THE DEPUTY HAD LEFT THREE MESSAGES FOR MR ATIYEH AT HIS HOTEL MAKING AN APPOINTMENT WITH THE MILITARY GOVERNOR FOR WEDNESDAY MR ATIYEH ARRIVED EARLY IT WAS HIS FIRST MEETING WITH AN ISRAELI OFFICIAL HE DIDN'T KNOW WHAT TO EXPECT I WAS ALREADY IN SHOCK FROM GETTING THREE MESSAGES IN 48 HOURS HE SAYS I'M NOT USED TO CIVIL SERVANTS SO KEEN TO HELP WITH AN INVESTMENT ESPECIALLY FOR AN AREA THEY'RE SUPPOSED TO BE LEAVING THE GOVERNOR SPOKE FLUENT ARABIC HE ASKED MR ATIYEH ABOUT HIS FAMILY ABOUT THEIR FLIGHT FROM JERICHO IN 1967 AND ABOUT THEIR BUSINESS THEY DRANK TURKISH COFFEE TOGETHER SEVERAL TIMES IN THE 75MINUTE MEETING THE ISRAELI SHOWED AN UNCANNY KNOWLEDGE OF RESTAURANTS AND NEIGHBORHOODS IN AMMAN THE BUSINESSMAN LAID OUT HIS PLAN THE JERICHO FACTORY WOULD BE MODELED ON A PLANT HE OWNS IN EGYPT WHICH EMPLOYS ABOUT 30 WORKERS AND PRODUCES SOME 700000 A YEAR WORTH OF DRIPIRRIGATION TUBING THE ATIYEHS WOULD FINANCE THE NEW FACTORY WITH 500000 OF THEIR OWN CASH AND A 500000 LOAN THEY WOULD SELL 65 OF ITS OUTPUT IN ARAB COUNTRIES 30 IN GAZA AND THE WEST BANK AND 5 IN ISRAEL WHERE THE SAME TYPE OF TUBING SELLS FOR MORE THAN TWICE THE PRICE THAT MR ATIYEH SAYS HE INTENDS TO CHARGE THE GOVERNOR AND HIS DEPUTY SEEMED IMPRESSED THEY ASSURED MR ATIYEH THAT THE FACT THAT ISRAELI COMPANIES PRODUCE THE SAME EQUIPMENT WOULD NOT AFFECT HIS CHANCES FOR A FACTORY PERMIT A REVERSAL OF LONGSTANDING ISRAELI EFFORTS TO THWART COMPETITION IN THE TERRITORIES APPROVAL OF THE PROJECT THEY SAID WOULD ENTITLE MR ATIYEH AND HIS FAMILY TO TEMPORARYRESIDENCY STATUS IN THE WEST BANK THEN THE GOVERNOR PICKED UP THE PHONE AND MADE AN APPOINTMENT FOR HIS GUEST WITH THE TOP ISRAELI OFFICIAL IN CHARGE OF TRADE AND INDUSTRY FOR THE WEST BANK IN THE TOWN OF RAMALLAH IN RAMALLAH THE RECEPTION WAS JUST AS ENCOURAGING ISRAELI OFFICIALS GAVE MR ATIYEH A SLEW OF FORMS TO COMPLETE AND ASSIGNED A PALESTINIAN AIDE TO HELP HIM FILL THEM OUT THEY SAID A MILITARY PANEL WOULD ACT ON HIS APPLICATION THIS MONTH A SPOKESWOMAN FOR THE ISRAELI MILITARY'S CIVIL ADMINISTRATION SAYS MR ATIYEH'S APPLICATION IS STILL PENDING BUT SHOULD RECEIVE APPROVAL SOON PROSPECTIVE PALESTINIAN INVESTORS SHE SAYS HAVE BEEN HOLDING A LOT OF MEETINGS AND ASKING A LOT OF QUESTIONS BUT MR ATIYEH IS AMONG THE FEW TO SUBMIT CONCRETE PROPOSALS SO FAR ISRAEL IS OFFERING TAX HOLIDAYS AND OTHER INCENTIVES TO FOREIGNERS TO INVEST IN THE TERRITORIES ROLLING OUT THE RED CARPET SHE ADDS AFTER LEAVING THE RAMALLAH MEETING MR ATIYEH STOPPED OFF IN JERUSALEM TO VISIT HIS COUSIN WHO NOW LIVES IN THE OLD CITY HOME OF MR ATIYEH'S DREAMS WITH SEVERAL COUSINS IN LINE BEFORE HIM MR ATIYEH KNOWS HIS CHANCES OF EVER LIVING IN THE JERUSALEM HOUSE ARE SLIM BUT HE WILL HAPPILY SETTLE FOR LIVING IN HIS CHILDHOOD HOME IN JERICHO HE SAYS IF HIS CHILDREN CAN GROW UP VISITING JERUSALEM I DON'T WANT TO GIVE UP MY LIFE AND BUSINESS IN JORDAN BUT I WANT TO HAVE A CHOICE HE SAYS I'M A PALESTINIAN BUT I'M AN ARAB FIRST I WANT THE RIGHT TO LIVE ANYWHERE IN THE ARAB LANDS 9311150042 931115 THE PURSUIT OF PERELLA ENDS AT MORGAN STANLEY BY ALEXANDRA PEERS STAFF REPORTER OF THE WALL STREET JOURNAL NEW YORK WALL STREET MERGERSANDACQUISITIONS SUPERSTAR JOSEPH R PERELLA WHO FOR WEEKS LED ON MORE PROMINENT RICH MEN THAN SCARLETT O'HARA HAS PICKED HIS NEXT EMPLOYER MORGAN STANLEY GROUP INC THE BLUECHIP WHITESHOE WALL STREET FIRM IS EXPECTED TO ANNOUNCE TODAY THAT MR PERELLA 52 YEARS OLD IS JOINING MORGAN STANLEY AS A MANAGING DIRECTOR IN THE INVESTMENT BANKING DIVISION AND A MEMBER OF ITS 17PERSON OPERATING COMMITTEE EFFECTIVE IMMEDIATELY HIS CHIEF RESPONSIBILITIES MERGERS AND ACQUISITIONS CLIENT RELATIONSHIPS AND INVESTMENT BANKING WITH A BIG EMPHASIS ON NONUS DEALS THE HIRING ENDS AN ALMOST FOURMONTHLONG COURTSHIP BY WALL STREET OF MR PERELLA THAT BEGAN LAST JULY WHEN THE NOTED DEALMAKER WALKED OUT ON HIS LONGTIME PARTNER IN THE MEGAMERGER BUSINESS BRUCE WASSERSTEIN SINCE THEN HE HAS BEEN CONTACTED WINED DINED AND SCHMOOZED BY ABOUT 20 SECURITIES FIRMS FINALLY LEADING TO A TWOHORSE RACE DECIDED LATE SATURDAY EVENING BETWEEN MORGAN STANLEY AND MERRILL LYNCH & CO MR PERELLA INTERVIEWED AT THE CONFERENCE ROOM OF MORGAN'S MIDTOWN MANHATTAN HEADQUARTERS SAID HE PICKED MORGAN BECAUSE HE WAS LOOKING FOR A JOB WHERE I COULD WEAVE MYSELF QUICKLY INTO THE FABRIC OF THE FIRM A COMPANY THAT HAS A HIGH RESPECT FOR INVESTMENT BANKING AND WHERE I COULD HAVE A POSITION OF INFLUENCE AND BE VIEWED BY CLIENTS AS A SENIOR PERSON AT THE COMPANY A 22YEAR AMIABLE BUSINESS RELATIONSHIP WITH MORGAN STANLEY CHAIRMAN RICHARD FISHER ALSO WEIGHED IN HIS DECISION HE SAID THE HIRE IS A COUP FOR MORGAN STANLEY WHICH ALWAYS HAS HAD A REPUTATION BIGGER THAN ITS MARKET SHARE THE MOVE TROUNCES RIVALS AND SHORES UP A WEAKENED FLANK THE FIRM LOST A NAME SENIOR BANKER AND THE NO 1 SPOT IN THE MERGERSANDACQUISITIONS RANKINGS WHEN ROBERT GREENHILL WHO BUILT THE FIRM'S MERGERS DEPARTMENT IN THE 1970S AND 1980S DEFECTED THIS SUMMER TO SMITH BARNEY SHEARSON INC TAKING EIGHT OTHER SENIOR BANKERS WITH HIM THE ACQUISITION OF MR PERELLA ALSO FITS IN WITH WHAT HAS BEEN AN EXTREMELY AGGRESSIVE OVERSEAS EXPANSION AND HIRING BINGE THE FIRM'S WORLDWIDE HEAD COUNT IS UP 11 TO ABOUT 7800 EMPLOYEES SINCE YEAREND 1991 MR FISHER SAID HE WAS VERY HAPPY WITH MR PERELLA'S DECISION AND LOOKED UPON IT AS AN OPPORTUNITY TO ADD SOMEONE WE THINK IS EXCEPTIONAL MR FISHER ADDED THAT MR PERELLA'S PAY WHICH WILL NOT BE DISCLOSED IN CORPORATE DOCUMENTS OR PROXIES IS IN THE RANGE OF COMPENSATION OF OTHER SENIOR PEOPLE IN THE INDUSTRY MR PERELLA ISN'T RUNNING HIS OWN BOOK OF BUSINESS SEPARATE FROM THE INVESTMENT BANKING DIVISION THE CHAIRMAN SAID AND MR PERELLA'S COMPENSATION WHICH INCLUDES SUBSTANTIAL MORGAN STANLEY STOCK OPTIONS WILL BE TIED TO THE PERFORMANCE OF THE FIRM AND OF THAT DIVISIONWITH SIGNIFICANT UPSIDE POTENTIAL THE INVESTMENT BANKING UNIT WILL CONTINUE TO BE HEADED BY ROBERT W MATSCHULLAT MR PERELLA WILL REPORT TO MR MATSCHULLAT IN THAT DIVISION AND TO JOHN MACK PRESIDENT OF MORGAN STANLEY IN HIS ROLE AS A MEMBER OF THE OPERATING COMMITTEE MR PERELLA DECLINED TO DISCUSS HIS COMPENSATION OTHER THAN TO SAY THAT IF THE FIRM DOES WELL I'LL BE WELL CARED FOR BY TRADITION MORGAN PAYS OUT ABOUT TWOTHIRDS OF ITS PRETAX PROFIT IN COMPENSATION MR FISHER HIMSELF MADE 63 MILLION LAST YEAR FOR MR PERELLA THE MONEY COMES AT AN OPPORTUNE TIME MR PERELLA LEFT WASSERSTEIN PERELLA & CO ON BAD TERMS AND STILL HAS MONEY TIED UP IN THE FIRM SOURCES CLOSE TO THE COMPANY SAID HE MIGHT FACE DIFFICULTY GETTING HIS MONEY NOT TO MENTION HIS MONIKER OUT OF THE FIRM HE COFOUNDED WITH MR WASSERSTEIN IN 1988 FOR NOW THE PURSE STRINGS ARE CLOSED WHILE NOMURA SECURITIES CO IS REPORTEDLY CONSIDERING SELLING OR RESTRUCTURING ITS 20 STAKE IN WASSERSTEIN PERELLA WALL STREET SOURCES INDICATE NOMURA CAN'T LEGALLY EXIT THE DEAL IN THE IMMEDIATE FUTURE HOWEVER NORMURA BOUGHT THE STAKE IN 1988 FOR 100 MILLION AT MORGAN MR PERELLA SAID HE WILL FOCUS ON THE 70 OF THE BUSINESS THAT IS OUTSIDE THE US AND ON MERGERSANDACQUISITIONS WORK ARISING OUT OF THE TELECOMMUNICATIONS COLLISION BETWEEN ENTERTAINMENT AND TECHNOLOGY AND ON THE REFORM OF THE AMERICAN HEALTHCARE SYSTEM THE FEVERISH COMPETITION FOR MR PERELLA'S SERVICES CAME DESPITE THE FACT THAT HIS OWN FIRM HAS LOST SIGNIFICANT GROUND IN THE MERGER ARENA IN RECENT YEARS AFTER A BLOCKBUSTER START WASSERSTEIN PERELLA'S RANKING IN VOLUME OF MERGER DEALS COMPLETED WORLDWIDE SANK TO NO 20 LAST YEAR FROM NO 3 IN 1989 ACCORDING TO SECURITIES DATA CO A NEWARK NJ RESEARCH FIRM WASSERSTEIN PERELLA BUILT ITS REPUTATION ON THE KIND OF HUNGRY HOSTILE MEGATAKEOVERS THAT HAVE GONE OUT OF STYLE IT ISN'T KNOWN FOR THE FINESSE AND ROCKSOLID REPUTATION THAT INTERNATIONAL CLIENTS PICKING A US BANKER OFTEN LOOK FOR MORGAN STANLEY'S ELEGANT IMAGE ALSO HELPED MR PERELLA MAKE HIS DECISION HE SAID OF HIS NEW PARTNERS THEY HAVE TO BE SMART IF THEY'RE CLASSY ITS JUST ICING ON THE CAKE UNTIL THE LAST MOMENTS BEFORE HIS DECISION LATE SATURDAY EVENING OFFICIALS AT BOTH MERRILL AND MORGAN BELIEVED THEY HAD A STRONG CHANCE TO HIRE MR PERELLA IN FACT BOTH FIRMS HAD REPORTEDLY PREPARED NEWS RELEASES ANNOUNCING THAT HE WOULD BE JOINING THE FIRM IT'S NO WONDER THAT TOP OFFICIALS AT SOME FIRMS FEEL LED ON MR PERELLA DID OVER A DOZEN INTERVIEWS EACH AT MERRILL LYNCH DONALDSON LUFKIN & JENRETTE BEAR STEARNS & CO AND LAZARD FRERES & CO EFFECTIVELY GARNERING INFORMATION ON RIVALS THAT HE CAN NOW USE AT BEAR STEARNS ALONE MR PERELLA MET WITH MORE THAN 17 DIFFERENT EXECUTIVES ONE POTENTIAL EMPLOYER A TOP EXECUTIVE OF A SECURITIES FIRM TURNED DOWN EARLIER IN THE PROCESS SAID HE NOW FEELS LUCKY WE LET THIS ONE GET AWAY BUT MR PERELLA SAID THE RUMORS OF WHICH FIRMS HE WAS SERIOUSLY CONSIDERING GOT OUT OF HAND AT TIMES HE'D HAVE DINNER WITH AN OLD FRIEND AND RUMORS SPREAD HE WAS MOVING TO THE COLLEAGUE'S COMPANY OFTEN THE TWO MERELY DISCUSSED OUR GOLF GAMES MR PERELLA SAID THE TURNING POINT FOR MORGAN MR PERELLA SAID DURING YESTERDAY'S INTERVIEW WAS A LARGE DINNER PARTY MR MATSCHULLAT HEAD OF MORGAN STANLEY'S INVESTMENTBANKING DIVISION HELD FOR MR PERELLA AND HIS WIFE ON NOV 5 IN GREENWICH CONN WE TALKED ABOUT THE OLD WAR STORIES SAID MR FISHER YES MR PERELLA AGREED THAT WAS BACK WHEN A BIG BUSINESS TRIP MEANT GOING TO PITTSBURGH THE TWO MEN MET IN 1971 WHEN MR PERELLA WAS A HARVARD BUSINESS SCHOOL STUDENT AND MR FISHER WAS RECRUITING FOR MORGAN WHILE MR PERELLA ENDED UP AT THE WORLD BANK AND LATER FIRST BOSTON THE TWO KEPT IN TOUCH OVER THE YEARS SINCE HIS DEPARTURE FROM WASSERSTEIN PERELLA HE HAS BEEN OPERATING OUT OF AN OFFICE AT POWERHOUSE LEGAL FIRM PAUL WEISS RIFKIND WHARTON & GARRISON JUST A FEW BLOCKS FROM MORGAN STANLEY THE DEAL TO MOVE TO MORGAN STANLEY WAS CUT WITH A TOUCH OF IRONY AT SAN PIETRO RESTAURANT ON EAST 54TH STREET A MODEST ITALIAN RESTAURANT THAT IS A BIG HANGOUT FOR EMPLOYEES OF MR PERELLA'S FORMER EMPLOYER CS FIRST BOSTON CORP 9311150041 931115 ECONOMY TRACKING THE ECONOMY BY ALAN YONAN JR THE GEARS OF THE NATION'S INDUSTRIAL SECTOR ON THE VERGE OF ATROPHY IN RECENT MONTHS HAVE BEGUN CREAKING WITH NEW LIFE MORE WORKERS AND LONGER HOURS IN MANUFACTURING INDUSTRIES ALONG WITH SHARPLY HIGHER AUTO OUTPUT POINT TO A SOLID INCREASE IN THE FEDERAL RESERVE'S INDEX OF INDUSTRIAL PRODUCTION FOR OCTOBER THE REPORT DUE OUT THIS WEEK WILL PROBABLY SHOW A 05 INCREASE IN THE NATION'S INDUSTRIAL PRODUCTION FOR THE MONTH WHICH WOULD BE THE LARGEST INCREASE IN EIGHT MONTHS SAID JEFF THREDGOLD CHIEF ECONOMIST AT ALBANY NYBASED KEYCORP INDUSTRIAL OUTPUT LANGUISHED THROUGHOUT THE SPRING AND SUMMER AFTER POSTING DECENT GAINS LAST WINTER THE INDUSTRIAL PRODUCTION NUMBERS WILL TEND TO VALIDATE WHAT IS HAPPENING IN A LOT OF THE SECTORS MR THREDGOLD SAID THE STRONGER INDUSTRIAL PRODUCTION SHOULD NUDGE THE NATION'S CAPACITY UTILIZATION RATE UP TO 82 FROM 816 HE ADDED THAT RATE WOULD STILL BE WELL BELOW THE 85 THRESHOLD THAT IS CONSIDERED INFLATIONARY HE ADDED OTHER ECONOMIC REPORTS ALSO PORTRAY AN ECONOMY THAT IS GAINING STRENGTH IN THE FOURTH QUARTER MR THREDGOLD SAID HE EXPECTS THE ECONOMY TO GROW AT A 33 RATE IN THE FOURTH QUARTER UP FROM 28 IN THE THIRD 19 IN THE SECOND AND 08 IN THE FIRST 9311150040 931115 MARKETING BRIEF TELEMUNDO GROUP INC SPANISHLANGUAGE NETWORK POSTS PROFIT FOR 3RD QUARTER TELEMUNDO GROUP INC NEW YORK SWUNG TO A PROFIT OF 6 MILLION FOR THE THIRD QUARTER TELEMUNDO A SPANISHLANGUAGE TELEVISION NETWORK THAT IS SEEKING PROTECTION UNDER CHAPTER 11 OF THE BANKRUPTCY CODE SAID THIRDQUARTER NET INCOME ROSE TO 6 MILLION OR 16 CENTS A SHARE COMPARED WITH A LOSS OF 77 MILLION OR 21 CENTS A SHARE FOR THE 1992 QUARTER TELEMUNDO HAD REVENUE OF 473 MILLION FOR THE THIRD QUARTER A 34 INCREASE FROM 354 MILLION A YEAR EARLIER FOR THE NINE MONTHS ENDED SEPT 30 THE COMPANY SAID REVENUE ROSE 15 TO 1255 MILLION FROM 109 MILLION A YEAR EARLIER THE COMPANY HAD A LOSS OF 209 MILLION OR 57 CENTS A SHARE FOR THE NINE MONTHS COMPARED WITH A LOSS OF 282 MILLION OR 76 CENTS A SHARE IN THE 1992 PERIOD 9311150039 931115 TECHNOLOGY A SPECIAL REPORT THE BASICS BEHAVE YOURSELF BY MICHAEL WOFSEY WHEN ROCK STAR BILLY IDOL RECENTLY POSTED NOTES TO AN INTERNET DISCUSSION GROUP HUNDREDS OF ONLINE CYBERPUNKS RESPONDED WITH TAUNTS ABOUT HIS GRAMMAR COMPUTER LITERACY AND OH YES HIS MUSIC A FEW FANS EVENTUALLY RODE IN TO THEIR HERO'S DEFENSE BUT WHEN THE FIRESTORM HAD SETTLED THE MESSAGE WAS CLEAR IN THE COMPUTERNETWORK BATTLEFIELD SOMETIMES THE ONLY SKILL THAT REALLY MATTERS IS A CAREFULLY HONED ABILITY TO BASH BACK WHEN BASHED MILLIONS OF COMPUTERNETWORK USERS CHAT IN DISCUSSION GROUPS AND POST MESSAGES ON BULLETIN BOARDS AND THE TOPIC TENDS TO ESTABLISH ETIQUETTE FOR THE GIVEANDTAKE CURL UP AND DIE IS MERE BADINAGE IN POLITICAL FORUMS WHERE OPINIONS RUN STRONG AND BLUNT AMONG MATHEMATICIANS ON THE OTHER HAND ELEGANTLY POSTULATED BUT DEADLY COUNTERATTACKS CAN FOLLOW TAUNTS OF HAVING A MISPLACED VARIABLE IN A FOURIER TRANSFORM GENERALLY ONLINE EXCHANGES STAY ORDERLY YOU PICK YOUR GROUP AND PLAY BY ITS RULES IF YOU DON'T YOU HEAR ABOUT IT QUICKLY GRAPHICALLY AND IN ABUNDANCE FROM OTHER USERS IN FACT MANY NETWORKS RELY ON SELFPOLICING TO ESTABLISH TONE AND CONTENT THEREFORE PROSPECTIVE PARTICIPANTS HAVE TO LEARN THE TERRITORY THE AUTOMOBILE GROUP ON THE PRODIGY NETWORK IS LIKELY TO HAVE LOTS OF FOLKS COURTEOUSLY DISCUSSING THE DRIVABILITY OF THE NEW CHRYSLER WHILE AN AUTO GROUP ON THE INTERNET MIGHT FEATURE INSULTS FLYING AMONG SEVERAL PEOPLE DEBATING WHETHER IT'S POSSIBLE TO REMOVE A '65 CORVETTE'S BACK SPARK PLUG WITHOUT TAKING THE ENGINE APART PRODIGY IS KNOWN FOR SETTING AND ENFORCING RULES OF DEPORTMENT THE NETWORK HAS HUMAN CENSORS WHO RESPOND TO COMPLAINTS ABOUT POSTED NOTICES AND A SYSTEM THAT SCANS FOR PROFANITY IN INCOMING MESSAGES AND BULLETINBOARD NOTICES IT'S A PIECE OF SOFTWARE THAT BASICALLY HAS A GEORGE CARLIN MONOLOGUE IN IT SAYS BRIAN EK DIRECTOR OF PUBLIC RELATIONS FOR PRODIGY MESSAGES THAT DON'T MEASURE UP ARE RETURNED TO SENDER WITH A COMPUTERWRITTEN EXPLANATION SO EFFICIENT ARE THESE SCANNERS THAT A WORD DESCRIBING A FEMALE DOG WILL NOT SHOW UP ON PRODIGY UNLESS IT'S IN A DOGBREEDERS' DISCUSSION GROUP THOSE SEEKING LIVELIER AND OFTEN RAUNCHIER DISCUSSIONS CAN LOOK TO THE BULLETINBOARD SYSTEM OF THE INTERNET OR TO COMPUSERVE OR TO A HOST OF SMALLER PRIVATE BOARDS ONE ANONYMOUS USER WHO REGULARLY USES THE INTERNET TO AIR HER POLITICAL VIEWS EXPLAINS THE ATMOSPHERE LIKE THIS IT'S LIKE DRIVING DOWN THE ROAD AND FLIPPING THE BIRD AT PEOPLE SHE SAYS SHE GETS PLENTY OF FERVENT RESPONSE IN GENERAL INDIVIDUALS RESPECT THE PREVAILING ETIQUETTE AS AN ONLINE COMMUNITY VOICES FRUSTRATIONS CHATS ABOUT WORK AND TRIES TO SELL THAT '65 CORVETTE WITH THE ENGINE THAT CAN'T BE PUT BACK TOGETHER BUT ONCE IN A WHILE SOMEONE TESTS THE IMPLICIT BOUNDARIES ONE MILITARYSCIENCE DISCUSSION GROUP RECEIVED A POEM ASKING WHY NONE OF THE GROUP'S PARTICIPANTS EVER JOKED WITH ONE ANOTHER WHILE CHATTING ABOUT THE ENIGMATIC WORKINGS OF VARIOUS FIGHTER JETS AND WARSHIPS THE GROUP'S MODERATOR THOUGHT ENOUGH OF THE POEM TO POST IT BUT SAYS NONE OF THE MILITARY EXPERTS BROKE RANKS TO ACKNOWLEDGE IT OR RESPOND I IMAGINED THEM JUST SORT OF LOOKING AT THE SCREEN AND GRITTING THEIR TEETH SAYS ROBERT WALTERS A PARTICIPANT IN THE GROUP 9311150038 931115 TECHNOLOGY A SPECIAL REPORT A NEW WORLD THE DIGITAL CLASSROOM AT MANY GRADE SCHOOLS COMPUTERS HAVE BROUGHT A WEALTH OF INFORMATION WITHIN REACH BY SUZANNE ALEXANDER RICHARD GREENE AND KYLA KRAMAN WERE SKEPTICAL ABOUT HEALTHCARE REFORM PRESIDENT CLINTON IS PROMISING A LOT THE SEVENTHGRADERS TYPED ON THEIR COMPUTER SCREEN IN MARCH AT THE BERKELEY CARROLL SCHOOL IN THE NEW YORK CITY BOROUGH OF BROOKLYN OTHER STUDENTS JUMPED IN THE PRESIDENT IS TAXING US EVEN MORE SAID NINTHGRADERS IN RONALD HUGHES'S CLASS AT TRIVALLEY CENTRAL SCHOOL 100 MILES AWAY IN GRAHAMSVILLE NY BUT WITHOUT AN INSURANCE PLAN THE POOR REALLY CAN'T AFFORD HOSPITAL COSTS SAID CARI LABRUZZO A SIXTHGRADER AT TODD ELEMENTARY SCHOOL IN BRIARCLIFF MANOR NY ABOUT 100 MILES FROM GRAHAMSVILLE THIS COMPUTERIZED DISCUSSION ON THE LEARNING LINK NETWORK IS PART OF A MOVEMENT TOWARD ONLINE EDUCATION IN PRIMARY AND SECONDARY SCHOOLS IN A SMALL BUT GROWING NUMBER OF CLASSROOMS CONNECTIONS TO COMPUTER NETWORKS ARE PROVIDING ACCESS TO VAST OUTSIDE RESOURCES AND CREATING NEW OPPORTUNITIES FOR COOPERATIVE LEARNING THOUGH THE COST IS AN OBSTACLE FOR MANY SCHOOLS STUDENTS NATIONWIDE ARE USING ONLINE SERVICES TO DO RESEARCH AND JOIN TOGETHER ON PROJECTS COMPARING EVERYTHING FROM WATERPOLLUTION LEVELS TO FOOD PRICES IN VARIOUS GEOGRAPHIC REGIONS IT REALLY IS THE BEGINNING OF A NEW APPROACH TO LEARNING SAYS CONNIE STOUT DIRECTOR OF THE TEXAS EDUCATION NETWORK A STATEFUNDED COMPUTER SYSTEM LINKING TOGETHER VIRTUALLY ALL 1100 TEXAS SCHOOL DISTRICTS AND THEIR 7000 SCHOOLS OUR TEACHERS ARE SAYING THE NETWORK HAS REVITALIZED THEIR TEACHING SHE ADDS IN LEARNING LINK SPONSORED BY THE PUBLIC BROADCASTING SERVICE 22000 TEACHERS AND STUDENTS IN ABOUT 20 CITIES USE THEIR CLASSROOM COMPUTERS TO DIAL INTO LOCAL NETWORKS THE NETWORKS CONNECT STUDENTS WITH SCHOOLS NATIONWIDE ENABLING STUDENT GROUPS TO RESEARCH THE DEFICIT THE ENVIRONMENT AND OTHER SUBJECTS JOINTLY STUDENTS GET ADDED MOTIVATION AND EXCITEMENT FROM THESE PROJECTS TEACHERS SAY BECAUSE THEY HAVE REAL AUDIENCES FOR THEIR WORK MOREOVER THROUGH THEIR ONLINE PEERS THEY GAIN EXPOSURE TO OTHER CITIES AND SETTINGS ADRIENNE D'ANTONIO LEARNED LAST SPRING THROUGH A COMPUTERNETWORK PROJECT CALLED ROADKILL THAT MANY ARMADILLOS ARE KILLED ON THE ROAD IN FLORIDA WHILE RATS AND DEER HAVE HIGH DEATH RATES IN NEW YORK THE STUDY IS PART OF A LARGER PROJECT CALLED ENVIRONNET WHICH SEEKS TO IMPROVE ENVIRONMENTALSCIENCE EDUCATION PRIMARILY THROUGH COMPUTERNETWORK ASSIGNMENTS DURING THE SIXWEEK ROADKILL PROJECT SCIENCE STUDENTS IN 30 SCHOOLS NATIONWIDE WERE ASSIGNED ROADS TO MONITOR DAILY FOR DEAD ANIMALS ONCE STUDENTS ENTERED THEIR FIGURES AS WELL AS THE SPEED LIMITS AND ENVIRONMENTS ON EACH ROAD THEY RESEARCHED WHY CERTAIN ANIMALS' DEATH TOTALS WERE SO HIGH WE LEARNED HOW ANIMALS MIGRATE HOW THEY FEED AND HOW THEIR POPULATION HAS GONE DOWN SAYS ADRIENNE A 15YEAROLD STUDENT AT PINKERTON ACADEMY IN DERRY NH IT WAS REALLY NEAT THE ONLINE LINKS DON'T EXCITE ONLY STUDENTS TEACHERS IN RURAL SCHOOLS FIND COMPUTER NETWORKS GIVE OTHERWISE ISOLATED COMMUNITIES ACCESS TO A COUNTY JUDGE UNIVERSITY PROFESSOR OR UPTOTHEMINUTE NEWS WIRE RESEARCH PROJECTS TAKE ON GREATER DEPTH AS TINY SCHOOL LIBRARIES ARE LINKED TO THE LIBRARY OF CONGRESS AND OTHER INFORMATION SOURCES THE TEXAS NETWORK STARTED IN 1991 HAS OPENED DOORS FOR THE STATE'S 250000 TEACHERS MANY OF WHOM WORK IN RURAL COMMUNITIES IT PROVIDES ACCESS TO THE INTERNET WEB OF NETWORKS AND TO MANY DATABASES AND RESEARCH SOURCES A GROUP OF ONLINE TEACHERS CALLED MATCHMAKERS DEVISES RESEARCH PROJECTS FINDS INTERESTED SCHOOLS TO TAKE DIFFERENT PIECES OF A TOPIC AND ENCOURAGES THEM TO EXCHANGE THEIR INFORMATION SOME SCHOOLS ARE USING COMPUTER NETWORKS TO IMPROVE A TEACHER'S ABILITY TO HELP STUDENTS AT HOME WASATCH ACADEMY A SMALL BOARDING SCHOOL IN RURAL MOUNT PLEASANT UTAH LAST SPRING PURCHASED A 60000 NETWORK OF 80 OLDER APPLE COMPUTERS THAT LINKS ALL CLASSROOMS DORMITORY ROOMS AND FACULTY HOUSING UNITS NOW WHEN WASATCH'S 150 STUDENTS HAVE DIFFICULTY WITH HOMEWORK ASSIGNMENTS THEY CAN SEND COMPUTER MESSAGES IN THE EVENING TO THEIR TEACHERS EVEN THOUGH I'M AT HOME I CAN LOOK AT THEIR ESSAY ELECTRONICALLY AND GIVE THEM SUGGESTIONS SAYS MARTHA JOHNSTONE AN ENGLISH TEACHER THEY CAN'T COME TO CLASS THE NEXT DAY AND SAY THEY DIDN'T UNDERSTAND WHILE MANY EDUCATORS APPLAUD THE COMING OF NETWORKS TO PRIMARY AND SECONDARY SCHOOLS RESEARCHERS SAY ONLY A SMALL PERCENTAGE OF SCHOOLS NATIONWIDE ARE USING THE TECHNOLOGY COST IS THE BIGGEST OBSTACLE SINCE MANY SCHOOLS ARE STILL STRUGGLING TO GET BASIC COMPUTER EQUIPMENT IN ADDITION TO THE EXPENSE OF HARDWARE AND SOFTWARE SOME NETWORKS REQUIRE SCHOOLS TO PAY ONLINE FEES AND LONGDISTANCE TELEPHONE CHARGES THEY'RE GOING TO HAVE TO SPEND SERIOUS MONEY IN ORDER TO GIVE KIDS ENOUGH ACCESS TO MAKE A DIFFERENCE SAYS MICHAEL F SULLIVAN EXECUTIVE DIRECTOR OF THE AGENCY FOR INSTRUCTIONAL TECHNOLOGY A BLOOMINGTON IND NONPROFIT DEVELOPER OF SOFTWARE AND VIDEO PROGRAMS FOR SCHOOLS MR SULLIVAN ARGUES THAT EVERY STUDENT USER NEEDS HIS OWN TERMINAL AT ABOUT 1200 EACH TO MAKE EFFECTIVE USE OF SOME OF THE EXISTING NETWORKS WITH ONLINE CHARGES REPAIR COSTS AND TRAINING FEES TOTALING ANOTHER 1200 OR MORE A YEAR THE INITIAL EXPENSE ALONE COULD EXCEED 2400 A STUDENT HE ESTIMATES IT WOULD COST 50 OF WHAT WE SPEND YEARLY ON EDUCATION OBVIOUSLY SCHOOLS AREN'T EVEN CONSIDERING DOING THIS ON ANY LARGE SCALE AT THE MOMENT MUNDANE OBSTACLES CAN ADD TO THE COST AND DIFFICULTY OF GETTING STARTED IT'S A BIG HASSLE FOR TEACHERS TO DO THIS KIND OF THING SOMETIMES THEY HAVE TO WAIT MONTHS JUST TO GET A PHONE LINE SAYS BEVERLY HUNTER WHO OVERSEES TECHNOLOGY PROJECTS AT TERC A NONPROFIT EDUCATIONAL RESEARCHANDDEVELOPMENT FIRM IN CAMBRIDGE MASS THAT AIMS TO IMPROVE TEACHING AND LEARNING INDEED AFTER SPENDING 6 MILLION SINCE 1989 TEXAS REPORTS THAT ONLY 5 OF ITS CLASSROOMS HAVE ACCESS TO PHONE LINES RENDERING ONLINE CONNECTIONS IMPOSSIBLE IN MOST CASES THE AVERAGE TEXAS SCHOOL HAS THREE TO SIX PHONES IN THE ADMINISTRATIVE OFFICE THE PRINCIPAL'S OFFICE THE ATHLETIC OFFICE AND THE LIBRARY MANY TEACHERS MAY ONLY HAVE ACCESS TO THE NETWORK FROM THEIR HOME COMPUTER CONCEDES MS STOUT TEACHERS ARE GENERALLY USING THE COMPUTER TO RETRIEVE INFORMATION THAT THEY THEN TAKE TO CLASS SHE SAYS REGARDLESS OF THE EXPENSE MANY EDUCATORS ARE CONVINCED THE NEW TECHNOLOGY IS SO USEFUL THAT IT WILL SOMEHOW SPREAD EITHER THROUGH LOWER COSTS OR GREATER WILLINGNESS TO SPEND RESEARCHERS SEE CLASSROOMS OF THE FUTURE WITHOUT WALLS MAKING POSSIBLE COLLABORATIVE STUDY FOR SOME SUBJECTS INDEPENDENT RESEARCH FOR OTHERS AND IF FUNDING PROBLEMS DON'T SKEW THINGS TOO BADLY POSSIBLY EVEN A REDRESSING OF ISSUES OF EQUITY BETWEEN RICH AND POOR AND LARGE AND SMALL DISTRICTS IT'S INEVITABLE SAYS WAYNE GRANT A SENIOR SCIENTIST AT APPLE COMPUTER INC WHO IS RESEARCHING NEW WAYS TO USE NETWORKS IN CLASSROOMS IF WE WANT AN INFORMED CITIZENRY WE MUST FIND A WAY TO HAVE TECHNOLOGY IN THE SCHOOLS TO ENSURE OUR COMPETITIVENESS MS ALEXANDER IS A STAFF REPORTER IN THE WALL STREET JOURNAL'S BOSTON BUREAU 9311150037 931115 RECENT SEC FILINGS WASHINGTON THE FOLLOWING ISSUES WERE RECENTLY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION AUTHENTIC FITNESS CORP AN OFFERING OF TWO MILLION COMMON SHARES VIA SMITH BARNEY SHEARSON INC BEAR STEARNS & CO DONALDSON LUFKIN & JENRETTE SECURITIES CORP LAZARD FRERES & CO AND MERRILL LYNCH & CO CONGOLEUM CORP AN OFFERING OF ABOUT 90 MILLION OF SENIOR NOTES DUE 2001 MARRIOTT INTERNATIONAL INC AN OFFERING OF UP TO 150 MILLION OF 10YEAR FIXEDRATE SENIOR NOTES VIA LEHMAN BROTHERS DONALDSON LUFKIN & JENRETTE SECURITIES CORP AND SMITH BARNEY SHEARSON INC RAYMOND CORP AN OFFERING OF 50 MILLION OF SUBORDINATED CONVERTIBLE DEBENTURES VIA LEHMAN BROTHERS INC TEXAS BIOTECHNOLOGY CORP AN INITIAL OFFERING OF 25 MILLION COMMON SHARES AND COMMON STOCK PURCHASE WARRANTS NOT 15 MILLION AS REPORTED EARLIER 9311150036 931115 TECHNOLOGY A SPECIAL REPORT A NEW WORLD PERSONAL EFFECTS AMID ALL THE TALK ABOUT THE WONDERS OF THE NETWORKS SOME NAGGING SOCIAL QUESTIONS ARISE BY LAURIE HAYS RICHARD LOWENBERG ARTIST AND ARCHITECT LOVES THE QUIET LIFE IN TELLURIDE A BUCOLIC VILLAGE OF SOME 1500 PEOPLE NESTLED IN THE ROCKY MOUNTAINS OF SOUTHWESTERN COLORADO NONETHELESS THIS SUMMER HE HELPED BREAK THE ISOLATION BY FORGING A HIGHTECH LINK BETWEEN TELLURIDE AND THE REST OF THE WORLD WITH MONEY AND EQUIPMENT DONATED BY SEVERAL CORPORATE SPONSORS AS WELL AS A GRANT FROM THE STATE MR LOWENBERG SET UP A NETWORK THAT ENABLES RESIDENTS TO TAP INTO THE INTERNET FROM THEIR HOME COMPUTERS OR FROM EIGHT TERMINALS INSTALLED IN THE LOCAL LIBRARY HIGH SCHOOL HISTORY MUSEUM AND TOWN HALL HE FIGURES THAT TOWNSFOLK WILL BE ABLE TO SEEK OUT THE INTELLECTUAL STIMULATION THEY MIGHT LACK LOCALLY AND SWAP IDEAS WITH OTHER TOWNS AND CITIES ON SUCH ISSUES AS HOW TO CONTROL GROWTH WHILE STILL ATTRACTING JOBS IT SOUNDS TERRIFIC BUT WHAT IF THE WHOLE THING BACKFIRES SOME RESIDENTS FOR EXAMPLE FEAR THAT THE PROJECT COULD TURN OUT TO BE LITTLE MORE THAN AN OUTLET FOR REALESTATE ADS DRAWING HORDES OF UNWANTED NEW SETTLERS AND LAST JULY PARTICIPANTS IN A THREEDAY TELECOMMUNITY CONFERENCE IN TELLURIDE DEBATED SUCH THORNY ISSUES AS CULTURAL PRESERVATION PRIVACY AND THE GAP BETWEEN INFORICH AND INFOPOOR MR LOWENBERG IS WELL AWARE OF THE POTENTIAL PROBLEMS MY SKEPTICISM IS THAT THIS IS ONE MORE ASPECT OF DEVELOPMENT THAT WILL MAKE TELLURIDE EVEN MORE POPULAR HE SAYS I DON'T WANT TO BE WORKING ON SOMETHING THAT WILL RUIN THE TOWN IN 10 YEARS SUCH MISGIVINGS TOUCH ON AN OFTEN UNEXAMINED ASPECT OF THE INTERNET AND ITS ELECTRONIC TRIBUTARIES AS COMPUTER NETWORKS GROW EVER MORE RAPIDLY AND THE INTERNET ACQUIRES THE STATUS OF HIP CULTURAL PHENOMENON A HOST OF PESKY AND FOR THE MOST PART UNANSWERABLE QUESTIONS SPRING TO MIND ABOUT ITS SOCIAL IMPACT AMID ALL THE HYPE ABOUT BETTER LIVING THROUGH TELECOMMUNICATIONS IT ISN'T AT ALL CLEAR WHAT SIDE EFFECTS THE SPREAD OF COMPUTER NETWORKS MIGHT HAVE HISTORICALLY SPEAKING ALMOST EVERY MAJOR BREAKTHROUGH IN TECHNOLOGY HAS HELD OUT THE PROMISE OF WONDROUS BENEFITS FOR SOCIETY ONLY TO BRING ABOUT UNIMAGINED AND SOMETIMES UNDESIRABLE CHANGES AS WELL THE TELEPHONE MAKES KEEPING UP WITH FRIENDS INFINITELY EASIER BUT IT HAS ALSO GIVEN US DINNERTIME PHONE SOLICITATIONS OBSCENE CALLERS AND TEENAGERS WITH CALLUSED EARS TELEVISION MAKES THE WORLD SMALLER AND SERVES UP BOTH CNN AND MASTERPIECE THEATER BUT IT HAS ALSO FOISTED ON US GILLIGAN'S ISLAND HALFHOUR INFOMERCIALS AND THE CULT OF THE COUCH POTATO SO IT IS WITH THE INTERNET FIRST FORMED TO LET ACADEMICS AND RESEARCHERS SWAP REAMS OF DATA CHEAPLY AND AT HIGHSPEEDS THIS NETWORK OF NETWORKS NOW CAN BE USED TO WIRE DIGITIZED CHILD PORNOGRAPHY TO THOSE WHO WANT IT IT OFFERS DEBATES ON SUCH DECIDEDLY NONACADEMIC TOPICS AS HOMOEROTICA FETISHES AND WOMEN'S LEGS NOT TO MENTION LEG SHAVING THE DISCUSSION GROUP KNOWN AS ALTSEXBONDAGE RECENTLY ATTRACTED THIS QUERY HAS ANYONE EVER EXPERIMENTED WITH FLOGGING OR CANING ON THE SOLES OF THE FEET IS THERE ANY REASON THIS SHOULD BE AVOIDED IF NOT IS THERE A PREFERRED WAY TO GO ABOUT IT ANYONE WITH KNOWLEDGE PLEASE ADVISE TO BE SURE MATERIAL LIKE THIS HAS LONG BEEN AVAILABLE IN OTHER FORMS AND IN OTHER WAYS BUT NOW IT MAY BE FLICKERING PAST THE EYES OF A 12YEAROLD WHO'S MASTERED THE COMPUTER IN THE FAMILY ROOM COMPUTERNETWORK ENTHUSIASTS OF COURSE PREFER TO FOCUS ON THE UPSIDE AND IT IS SUBSTANTIAL ALREADY THE DEPARTMENT OF AGRICULTURE USES THE INTERNET TO GET TIMELIER INFORMATION OUT TO THE FARMERS WHO FEED THE WORLD BY THE SAME MEANS THE DEPARTMENT WAS ABLE TO OFFER ASSISTANCE TO FLOOD VICTIMS IN THE MIDWEST THIS PAST SUMMER THE INTERNET ALSO BRINGS EDUCATIONAL MATERIALS TO RURAL SCHOOLCHILDREN PROMOTING LITERACY AS WELL AS PROVIDING TIPS ON NUTRITION AND PERSONAL FITNESS ONE DAY THE NETWORKS COULD PROVE INVALUABLE IN TACKLING SUCH INTRACTABLE PROBLEMS AS WELFARE DISTRIBUTION AND PROVIDE ACCESS TO THE NATIONAL INSTITUTES OF HEALTH FOR INFORMATION ON TREATING DISEASES WE ARE TALKING ABOUT REVITALIZING LOCAL ECONOMIES AND CIVIC INSTITUTIONS SAYS RICHARD CIVILLE DIRECTOR OF THE WASHINGTON OFFICE OF THE CENTER FOR CIVIC NETWORKING WHICH WAS FOUNDED A YEAR AGO TO PROMOTE THE PUBLIC BENEFITS AND APPLICATIONS OF THE INTERNET WE ARE TALKING ABOUT IMPROVING DELIVERY OF GOVERNMENT SERVICES REVITALIZING THE QUALITY OF PUBLIC DEBATE REDUCING POVERTY AND CHANGING WELFARE AS WE KNOW IT BUT CONSIDER A FEW OF THE POSSIBLE CONSEQUENCES ON A MORE PERSONAL LEVEL WITH MILLIONS OF USERS POUNDING AWAY ON THEIR KEYBOARDS IT MAY TURN OUT THAT EVERYBODY IS TALKING AND NOBODY IS REALLY LISTENING BY THE SAME TOKEN CONNECTING WITH ONE AND ALL IN THE ELECTRONIC ETHER COULD LEAVE PEOPLE MORE DISCONNECTED THAN EVER BEFORE AS THE NECESSITY OF FACETOFACE CONTACT DIMINISHES IF A TROUBLED OR SHY OFFICE WORKER EASILY FINDS SOLACE AND APPROVAL ON THE NETWORKS WILL SHE BE LESS INCLINED TO SEEK OUT FRIENDS ON THE JOB MOREOVER COMPUTER NETWORKS ALLOW FOR A DEGREE OF ANONYMITY THAT FEW FORMS OF COMMUNICATION CAN MATCH PSEUDONYMS ARE COMMON AND FALSE IDENTITIES SOME TIMES OF A DIFFERENT SEX ARE FAR FROM RARE HOW DO YOU REACT WHEN YOU DISCOVER THAT YOUR BEST ONLINE FRIEND IS JUST A FIGMENT OF ANOTHER USER'S IMAGINATION AND WHAT ARE THE PSYCHOLOGICAL IMPLICATIONS FOR A HIGHSCHOOL STUDENT WHO SPENDS HIS EVENINGS INHABITING THE PERSONA OF A 28YEAROLD WOMAN THOUGH THESE CASES MAY SOUND EXTREME THEY'RE HARDLY UNTHINKABLE AMY BRUCKMAN A DOCTORAL CANDIDATE AT MASSACHUSETTS INSTITUTE OF TECHNOLOGY WHO WORKS IN THE SCHOOL'S MEDIA LAB HAS SPENT A GOOD DEAL OF TIME STUDYING GENDER SWAPPING AND SEX ROLES ON THE INTERNET ONE FACT OF LIFE ONLINE SHE NOTES IS THAT WOMEN ARE OFTEN TREATED AS BEING HELPLESS WHEN MS BRUCKMAN WHO HERSELF LOGS ON UNDER DIFFERENT GUISES AS PART OF HER EXPERIMENTS APPEARS ON THE NETWORK AS A WOMAN MEN TEND TO OFFER HER TECHNICAL ASSISTANCE AND THEN ASK FOR SEXUAL FAVORS IN RETURN ONCE AFTER DEFLECTING SOMEONE'S FLIRTATIONS SHE WAS ACCUSED OF BEING A MALE IN DISGUISE BY BEING BETWEEN REALITY AND UNREALITY MS BRUCKMAN SAYS SUCH CONTACT HELPS US REFLECT ON THE NATURE OF REALITY HOWARD RHEINGOLD THE EDITOR OF THE WHOLE EARTH REVIEW A SAUSALITO CALIFBASED GENERALINTEREST QUARTERLY ALSO HAS EXTENSIVE ONLINE EXPERIENCE WORKING AT HOME HE SPENDS TWO OR THREE HOURS A DAY COMMUNICATING OVER THE INTERNET WHEN HE WANTS TO DISCUSS POLICY ISSUES HE GOES UNDER HIS OWN NAME BUT WHEN HE WANTS TO BE RAUCOUS AND BAWDY HE ADOPTS THE ALIAS FUN BOY AND SHARES WITH FELLOW USERS THE KIND OF JOKES YOU MIGHT HEAR AROUND THE OFFICE WATER COOLER MR RHEINGOLD SAYS HE BELIEVES THAT THE COMMUNITIES FORMING ON THE NETWORKS FILL CERTAIN VOIDS THAT HAVE OPENED UP AS OTHER KINDS OF COMMUNITIES DISINTEGRATE HE POINTS OUT THAT OFFICE LIFE NO LONGER EXISTS FOR THE THOUSANDS OF PEOPLE WHO WORK AT HOME AND THAT THE ROLE OF THE TOWN SQUARE THE LUNCH COUNTER AND THE NEIGHBORHOOD TAVERN IS SHRINKING AS PEOPLE GROW TOO BUSY OR TOO AFRAID OF CRIME TO STOP AND SOCIALIZE AS WE BECOME MORE FRAGMENTED THE VIRTUAL COMMUNITIES ON THE INTERNET CAN HELP PEOPLE PUT TOGETHER A COMMUNITY OF CONVIVIALITY AND A SUPPORT STRUCTURE HE SAYS SOMETIMES STRANGERS CAN BE SURPRISINGLY SUPPORTIVE HOWEVER HE ADDS WE ARE SO MUCH MORE THAN WE ARE OVER THE INTERNET MR RHEINGOLD ALSO CONCEDES THAT THERE'S A DRAWBACK TO THIS KIND OF INTERACTION THE DANGER THAT SUPERFICIAL AND ANONYMOUS RELATIONSHIPS MAY INCREASINGLY REPLACE THE REAL THING INDEED SOME USERS SEEM TO PREFER THE DISTANCE AFFORDED BY THE NETWORK ONE YOUNG WOMAN IN INDIANA UNHAPPILY MARRIED FOUND LOVE SEVERAL MONTHS AGO ON AN ELECTRONIC BULLETIN BOARD WHEN SHE BEGAN CORRESPONDING WITH AN EQUALLY UNHAPPY MARRIED MAN IN NEW YORK SOON THE TWO HAD MADE PLANS TO LEAVE THEIR SPOUSES IN ORDER TO BE TOGETHER THE WOMAN SHED 50 POUNDS IN ANTICIPATION OF THE MEETING AS IT HAPPENED THE ENCOUNTER WAS POSTPONED IN THEIR FEW ACTUAL PHONE CONVERSATIONS THEY FOUND THAT REALTIME TALK JUST WASN'T AS GOOD AS ONSCREEN PROSE THEY STILL HAVEN'T MET IN PERSON BOTH ARE AFRAID OF DISAPPOINTMENT YET ANOTHER AREA IN WHICH QUESTIONS ARISE IS THAT INVOLVING PRIVACY AND SECURITY HUGE AMOUNTS OF PRIVATE PERSONAL AND BUSINESSRELATED INFORMATION ARE STARTING TO FLOW ACROSS THE NETWORKS AND BECAUSE MUCH OF THIS TRAFFIC MOVES THROUGH PUBLICLY ACCESSIBLE CHANNELS IT'S RELATIVELY EASY FOR ANYONE WITH THE RIGHT SKILLS AND HARDWARE TO LISTEN IN WE THINK PEOPLE WON'T USE THESE NETWORKS IF THEY DON'T TRUST THEM SAYS DANIEL WEITZNER SENIOR STAFF COUNCIL FOR THE ELECTRONIC FRONTIER FOUNDATION A WASHINGTONBASED ADVOCACY GROUP FOR COMPUTER USERS INTERNET IS RUN BY AN INCREASINGLY LARGE GROUP OF ORGANIZATIONS AND NOBODY IS RESPONSIBLE FOR SECURITY THAT MEANS USERS HAVE TO BE ABLE TO PROTECT THEMSELVES AND ENCRYPTION IS THE SOLUTION UNLESS THE PRIVACY AND ACCESS ISSUES ARE SOLVED WITH AN ACCEPTABLE PUBLIC POLICY SIMILAR TO THE RULES THAT GOVERN THE TELEPHONE SYSTEM TODAY HE ADDS YOU CREATE FUNDAMENTAL PROBLEMS FOR DEMOCRACY HOWEVER FINDING A SOLUTION IS LIKELY TO BE A STICKY MATTER SEVERAL COMPANIES AND INDIVIDUALS HAVE ALREADY DEVELOPED ENCRYPTION DEVICES AND SOFTWARE PROGRAMS THAT SCRAMBLE WHATEVER IS GOING OVER THE PHONE LINES BUT THE FEDERAL BUREAU OF INVESTIGATION AND OTHER LAWENFORCEMENT AGENCIES ARGUING THAT SUCH TOOLS WILL HAMPER THEIR ABILITY TO TRACK CRIMINAL ACTIVITIES HAVE LOBBIED AGAINST THEM WE DIDN'T WANT TO CREATE A SAFE HAVEN THROUGH THE USE OF TECHNOLOGY WHEREBY DANGEROUS CRIMINALS AND TERRORISTS COULD UTILIZE THE COMMUNICATION NETWORKS EXPLAINS AN FBI SPOKESMAN IT'S A DOUBLEEDGED SWORD SUCH ISSUES ARE ONLY NOW EMERGING AS THE NETWORKS EXPAND THEIR REACH WE'RE ON THE EDGE OF A DEBATE SAYS MR CIVILLE OF THE CENTER FOR CIVIC NETWORKING BEFORE HIS GROUP CAN DO ITS JOB OF PROMOTING THE INTERNET HE ARGUES GOVERNMENT MUST ANSWER THE QUESTION OF WHO IS CURRENTLY USING THE NETWORK A RESOURCE WHOSE EXACT SHAPE AND EXTENT ARE UNKNOWN DOES THE INTERNET HELP PEOPLE ANSWER QUESTIONS ABOUT HEALTH CARE AND GOVERNMENT IS IT MERELY A PLAYGROUND FOR BORED COMPUTER ENGINEERS AND STUDENTS WITH TOO MUCH TIME ON THEIR HANDS IT IS ATTRACTING MOSTLY BUSINESSES THAT HOPE IT WILL HELP THEM CATER TO THE WISHES OF ONLINE SHOPPERS HOW CAN YOU MAKE POLICY IF YOU DON'T KNOW WHAT'S GOING ON OUT THERE ASKS MR CIVILLE WHO HAS BEEN URGING THE US CENSUS BUREAU TO ADDRESS THE QUESTION OF USAGE WITHOUT A FEDERAL POLICY GOVERNING ACCESS AND USE HE CONTENDS THE INTERNET AS AN UNPARALLELED SOURCE OF INFORMATION COULD SERVE TO WIDEN THE GULF BETWEEN HAVES AND HAVENOTS OTHERS HOWEVER ARGUE THAT MARKET FORCES WILL TAKE CARE OF ANY DISPARITIES WILLIAM BLUESTEIN DIRECTOR OF COMPUTING STRATEGY RESEARCH AT FORRESTER RESEARCH IN CAMBRIDGE MASS SAYS COMPANIES OFFERING ONLINE SERVICES ARE GOING TO HAVE TO AIM THEM AT THE MAINSTREAM NOT JUST THE SHARPER IMAGE SET PLYING THE MASSES WITH SPORTS SCORES HOMEREPAIR ADVICE MUTUALFUND QUOTES BANKING AND SHOPPING BACK IN TELLURIDE IT'S TOO SOON TO TELL WHAT CHANGES THE INTERNET HOOKUP MAY BRING FOR THE TIME BEING AT LEAST THE LOCALS WHO WORRY ABOUT A NETWORKINSPIRED INFLUX CAN TAKE SOLACE IN THE WEATHER IT GETS MUDDY AND COLD THIS TIME OF YEAR AND THAT ALONE MAY SCARE OFF A GOOD NUMBER OF PROSPECTIVE RESIDENTS MEANWHILE PEOPLE LIKE ART GOODTIMES HAVE FOUND A WAY TO KEEP THE NETWORK IN PERSPECTIVE A POET AND JOURNALIST WHO LIVES IN NORWOOD 40 MILES WEST OF TELLURIDE HE HOPS ABOARD THE INTERNET TO CHAT WITH OLD FRIENDS IN SAN FRANCISCO AS WELL AS WITH FELLOW MUSHROOM COLLECTORS ACROSS THE COUNTRY NOW I CAN LIVE IN A BEAUTIFUL RURAL AREA AND STILL PURSUE MY INTELLECTUAL INTERESTS HE SAYS BUT MR GOODTIMES WHO IS 47 AND LIVES WITH HIS WIFE AND FOUR CHILDREN ISN'T LOOKING FOR EMOTIONAL COMFORT IN CYBERSPACE AROUND TOWN HE HAS LOTS OF CLOSE FRIENDS THANK YOU LIVE AND IN PERSON WHAT'S MORE HE SAYS EVERYBODY WAVES HERE MS HAYS IS A REPORTER IN THE WALL STREET JOURNAL'S NEW YORK BUREAU 9311150035 931115 DATA RAIDS RIVALS DUEL BITTERLY FOR JOB OF SUPPLYING MARKET INFORMATION IRI STEALS BACK AN EXECUTIVE NIELSEN PREVIOUSLY STOLE BOTH SIDES STEAL CLIENTS SCANNING THE RETAIL WORLD BY GABRIELLA STERN AND RICHARD GIBSON STAFF REPORTERS OF THE WALL STREET JOURNAL WHEN HIS PHONE RANG AT 430 AM A WEEK AGO FRIDAY DUN & BRADSTREET CORP PRESIDENT ROBERT WEISSMAN THOUGHT IT WAS A DRUNK CALLING A WRONG NUMBER NO SUCH LUCK IT WAS SERGE OKUN THE PRESIDENT OF D&B'S AC NIELSEN UNIT ON THE LINE FROM BANGKOK WITH SOME URGENT NEWS GEORGE R GARRICK HIRED JUST FOUR MONTHS EARLIER TO REJUVENATE NIELSEN'S US MARKETRESEARCH BUSINESS HAD SUDDENLY QUIT WORSE HE WAS RETURNING TO HIS FORMER EMPLOYER AND NIELSEN'S ARCHFOE INFORMATION RESOURCES INC MR OKUN IMMEDIATELY CANCELED A BIG BUDGET MEETING IN THE THAI CAPITAL AND FLEW HOME TO HELP WITH DAMAGE CONTROL AND WITHIN HOURS MR WEISSMAN HIMSELF WAS ON THE PHONE REASSURING MAJOR CLIENTS LIKE KRAFT GENERAL FOODS AND COCACOLA THAT THEY NEEDN'T BE CONCERNED EVEN THOUGH D&B HAD ISSUED A NEWS RELEASE SAYING IT WAS SHOCKED BY MR GARRICK'S MOVE THE AGGRESSIVENESS OF THIS REACTION WAS TYPICAL OF THE NIELSENIRI RIVALRY ONE OF THE MORE INTENSE IN AMERICAN BUSINESS BOTH COMPANIES DELIGHT IN BADMOUTHING EACH OTHER TO PROSPECTIVE CLIENTS AND CELEBRATE EVEN WHEN A SMALL CUSTOMER SWITCHES SIDES THEY ALSO REGULARLY RAID PERSONNEL IN WHAT ONE INDUSTRY OPERATIVE CALLS CUTTHEHEADOFF SORTIES FOR EXAMPLE AFTER MR GARRICK'S FIRST DEFECTION WHEN HE WENT FROM IRI TO NIELSEN IN JUNE NIELSEN CLIENTS AND EXECUTIVES BEGAN RECEIVING PACKAGES CONTAINING MEMOS MR GARRICK HAD WRITTEN AT IRI CRITICIZING NIELSEN IRI'S CHAIRMAN AND CHIEF EXECUTIVE GIAN FULGONI SAYS THE MEMOS WERE INTENDED FOR INTERNAL USE ADDING THAT HE DOESN'T KNOW HOW THEY CAME TO BE MAILED AT IRI'S ANNUAL COMPANYWIDE CELEBRATION LAST SUMMER A STAFFER MOCKED NIELSEN AS A STODGY PLACE BY DRESSING UP LIKE AN OLD GEEZER SAYS IRI PRESIDENT MAGID ABRAHAM WE ARE MORTAL ENEMIES IT'S EASY TO SEE WHY AT STAKE ARE LUCRATIVE CONTRACTS WITH THE WORLD'S LARGEST MAKERS OF CONSUMER PRODUCTS ALL ARE HUNGRY FOR THE DATA IRI AND NIELSEN COLLECT ROUND THE CLOCK FROM CLIENT SUPERMARKETS DRUGSTORES AND MASS MERCHANDISERS MORE NUMBERS ARE CREATED EVERY TIME A BOX OF CEREAL OR BAR OF SOAP PASSES OVER A CHECKOUT SCANNER IRI ESTIMATES IT GATHERS 100 MILLION NEW RECORDS EACH WEEK THE WEALTH OF DATA ULTIMATELY AFFECTS WHAT SHOPPERS CAN BUY RETAILERS USE THE INFORMATION TO STOCK SHELVES AND ADJUST PRICES AND MANUFACTURERS USE IT TO DECIDE HOW MANY OF WHICH KINDS OF PRODUCTS TO MAKE AND HOW TO MARKET THEM THE WALL STREET JOURNAL USES SOME TOO GETTING DATA FROM IRI TO COMPILE ITS TWICEWEEKLY MARKETSCAN FEATURE ON CONSUMERPRODUCT TRENDS THE JOURNAL ALSO USES NIELSEN AS A SOURCE FOR MARKETING DATA MULTINATIONAL BEHEMOTHS LIKE PROCTER & GAMBLE AND UNILEVER HAVE A GROWING APPETITE FOR SHOPPER DATA AS THEY SEEK TO WRING COSTS FROM MANUFACTURING DISTRIBUTION AND MARKETING OPERATIONS THE KRAFT GENERAL FOODS UNIT OF PHILIP MORRIS FOR EXAMPLE SPENT AN ESTIMATED 24 MILLION LAST YEAR ON DATA FROM NIELSEN BATTLING FOR THIS BUSINESS NIELSEN AND IRI SEEK TO UNDERPRICE EACH OTHER WHILE EACH CLAIMING ITS INTERPRETATION OF THE DATA IS SUPERIOR WE WANT TO BE NO 1 AND WE'RE RELIGIOUS FANATICS ABOUT IT SAYS IRI CHAIRMAN FULGONI OBSERVES MR WEISSMAN OF D&B WE HAVE IN IRI WHAT I CHARACTERIZE AS AN EXTREMELY ANGRY COMPETITOR THE HOSTILITY DATES BACK TO 1987 WHEN D&B SOUGHT TO ACQUIRE IRI FOR 455 MILLION IN STOCK ONLY TO BE THWARTED BY THE FEDERAL TRADE COMMISSION ON ANTITRUST GROUNDS DURING THE FOUR MONTHS THE FTC STUDIED THE TAKEOVER IRI'S BUSINESS WAS STALLED AND IT LOST MILLIONS IN REVENUE MR FULGONI BECAME ENRAGED WHEN HE LEARNED THAT NIELSEN WAS NOTING IRI'S LOSSES IN PRESENTATIONS TO CLIENTS THEY USED THE STUFF THEY FOUND DURING DUE DILIGENCE TO DEVELOP THEIR BUSINESS PLANS AND USED THE FACT THAT WE'D LOST MONEY DURING THIS PERIOD MR FULGONI SAYS THAT JUST DROVE US BANANAS MR WEISSMAN SAYS D&B DIDN'T DO ANYTHING UNSEEMLY IRI'S EXECUTIVES REDOUBLED THEIR EFFORTS TO CUT INTO NIELSEN'S BUSINESS OVER THE NEXT FEW YEARS THEY STOLE MANY OF NIELSEN'S DOMESTIC CONSUMERPRODUCTS CLIENTS USING A TECHNOLOGICAL ADVANTAGE IN SCANNER SOFTWARE PLUS LOTS OF PROMOTION IRI WON MAJOR CORPORATE CLIENTS PEPSICO CAMPBELL SOUP RJ REYNOLDS TOBACCO HJ HEINZ TAMBRANDS AND BRISTOLMYERS SQUIBB IRI'S 1992 REVENUE OF 2764 MILLION THOUGH UP 24 FROM 1991 REMAINS FAR BEHIND NIELSEN'S 13 BILLION WORLDWIDE THE GAP IN THE US IS NARROWER THAN THAT SUGGESTS HOWEVER BECAUSE ONLY ABOUT 515 MILLION OF NIELSEN'S 1992 REVENUE WAS DOMESTIC AND OF THAT ABOUT A THIRD CAME FROM NIELSEN MEDIA RESEARCH THE TVRATING SERVICE ACCORDING TO INDUSTRY ESTIMATES IRI'S US REVENUE WAS 2416 MILLION OVERSEAS NIELSEN IS FAR AHEAD OF IRI THE RESEARCH BUSINESS REMAINS LUCRATIVE FOR BOTH COMPANIES YIELDING PROFIT MARGINS IN THE TEENS BUT IRI HAS HAD STEEPER PROFIT GROWTH LAST YEAR IT EARNED 192 MILLION UP 25 FROM 1991 D&B DOESN'T BREAK OUT NIELSEN'S EARNINGS SOME INDUSTRY ANALYSTS FAULT NIELSEN FOR BEING SLOWER THAN IRI TO RECOGNIZE THAT DATA ALONE ARE JUST A COMMODITY THAT THE KEY TO WINNING CONTRACTS IS ANALYSIS OF THE DATA NIELSEN'S SERVICE HAS ALSO OCCASIONALLY DRAWN FIRE AN EXECUTIVE WHOSE HEALTHCARE PRODUCTS COMPANY SWITCHED TO IRI IN 1991 SAYS WE WERE SEEING CONSISTENT PROBLEMS WITH NIELSENMISSING DATA MISSTATED DATA DELETING DATA WITHOUT NOTIFYING US A NIELSEN SPOKESWOMAN SAYS DATA QUALITY WAS AN ISSUE FOR A TIME AFTER THE COMPANY INTRODUCED A SOPHISTICATED SOFTWARE PACKAGE THAT ANALYZED DATA DIFFERENTLY THERE WERE MISUNDERSTANDINGS AS TO ACCURACY SHE SAYS IT TOOK SEVERAL JOLTING CONTRACT LOSSES TO SPUR NIELSEN TO ACTION EARLY LAST YEAR THE COMPANY WRESTED THE KRAFT ACCOUNT FROM IRI IT ALREADY HAD GENERAL FOODS REPORTEDLY BY OFFERING A 30 PRICE DISCOUNT IRI RETALIATED PICKING OFF P&G'S GIANT ACCOUNT FROM NIELSEN BUT P&G PLAYING THE RIVALS AGAINST EACH OTHER ENDED UP PAYING AT LEAST 50 LESS THAN IT HAD UNDER ITS NIELSEN CONTRACT PEOPLE CLOSE TO THE SITUATION SAY IRI WENT ON TO SCORE SEVERAL MORE COUPS ADDING SUCH ACCOUNTS AS KELLOGG BORDEN AND BURROUGHSWELLCOME DESPITE THEIR WILLINGNESS TO DEAL THE DATA COMPANIES KEEP PROFIT MARGINS UP BY ADDING MORE SERVICES AND EXPANDING THEIR CLIENTELE AS CHECKOUT SCANNERS SPREAD EVEN TO RURAL CONVENIENCE STORES AND GAS STATIONS WHEN NIELSEN'S PRESIDENT JOHN COSTELLO QUIT LAST WINTER D&B SAW THE CHANCE FOR A SHAKEUP AND ENTICED MR GARRICK AWAY FROM IRI'S LONDON HEADQUARTERS TO DO THE JOB THE 41YEAROLD MR GARRICK REPORTEDLY TOLD FRIENDS HE FELT UNAPPRECIATED BY HIS IRI SUPERIORS BACK IN CHICAGO AND HE AND HIS WIFE WERE EAGER TO RETURN TO THE US AT NIELSEN THERE WAS JUBILATION BUT IRI'S MR FULGONI WAS FURIOUS HE HAD PERSONALLY RECRUITED THE BRIGHT ENGINEERCUMMBA FROM PURDUE UNIVERSITY NOW HE FIRED OFF A FAX TO MR GARRICK WITH A MARK TWAIN QUOTATION IF YOU PICK UP A STARVING DOG AND MAKE HIM PROSPEROUS HE WILL NOT BITE YOU THIS IS THE PRINCIPAL DIFFERENCE BETWEEN A DOG AND A MAN MR GARRICK THOUGH SHAKEN BY IRI'S ANGER SOUGHT TO TURN IT TO HIS ADVANTAGE AFTER LEARNING THAT HIS MEMOS CRITICAL OF NIELSEN WERE BEING LEAKED HE INVITED NIELSEN EMPLOYEES TO READ HIS ASSESSMENTS I DON'T REGRET ANYTHING I SAID HERE SOME RECALL HIM SAYING SUCH CANDOR WON HIM FAVOR AT NIELSEN WHERE HE SAW HIMSELF AS AN AGENT OF CHANGE INDEED ONE REASON D&B HIRED HIM MR WEISSMAN SAYS WAS THAT NIELSEN WAS SEEN AS A LITTLE UPTIGHT MR GARRICK JOINED AS PRESIDENT AND CHIEF OPERATING OFFICER OF NIELSEN MARKETING RESEARCH NORTH AMERICA AND THEN BECAME CEO ONE THING HE DID IN HIS SHORT TIME THERE WAS TO FOSTER A MORE RELAXED CLIMATE HE REPLACED INITIALS ON NAMEPLATES WITH FIRST NAMES INSTALLED A CASUAL DRESS CODE AND LOCATED HIS OFFICE SO IT WAS OPEN TO STAFFERS HE ALSO POKED FUN AT THE ORGANIZATION ONCE SAYING THAT SOMEWHERE IN THE CORPORATE ARCHIVES WAS A BOOK SPELLING OUT 43 WAYS TO SAY UP' AND 43 WAYS TO SAY DOWN' ACCORDING TO A NIELSEN MANAGER BUT HE ALSO URGED SALES EMPLOYEES TO LISTEN CAREFULLY DURING STAFF MEETINGS WARNING THAT THEY WOULD BE GIVEN A TEST AFTERWARD HE CUT LAYERS OF MANAGEMENT AND RECRUITED SOME OUTSIDERS INCLUDING FORMER IRI COLLEAGUES MR GARRICK SPENT MUCH OF HIS TIME CALLING ON CLIENTS HE OFTEN TOOK ALONG TWO IRI RECRUITS CAUSING SOME RESENTMENT BACK AT NIELSEN'S NORTHBROOK ILL HEADQUARTERS SOME EMPLOYEES ALSO FELT HE WAS INDISCREET TO CALL NIELSEN DYSFUNCTIONAL IN AN AUGUST NEWSPAPER INTERVIEW BUT CLIENTS WERE BOWLED OVER MOST EXCITING TO US WAS THAT HE FELT NIELSEN'S FOCUS SHOULD BE ON HELPING CLIENTS GET MORE VALUE OUT OF THE INFORMATION WE WERE PURCHASING SAYS A SENIOR MARKETING EXECUTIVE AT A MIDWESTERN FOOD COMPANY SHE RECALLS MR GARRICK DISPLAYING A CHART WHERE ONE LINE REPRESENTED INFORMATION AVAILABLE AND ANOTHER SHOWED ITS AVERAGE USE THERE WAS CLEARLY A GAP AND HE POSITIONED NIELSEN AS TRYING TO ADDRESS IT THE EXECUTIVE SAYS A DEFT SALESMAN MR GARRICK WON THE ENTIRE COLGATEPALMOLIVE ACCOUNT FOR NIELSEN WHICH PREVIOUSLY HAD BEEN DIVIDED WITH IRI THE BUDGET ISSUE BUT NOT EVERYTHING WENT SMOOTHLY ACCORDING TO MR GARRICK A PROBLEM AROSE OVER HOW MUCH MONEY D&B WOULD GIVE NIELSEN MR WEISSMAN SAYS HE TOLD MR GARRICK THAT LIKE A FIELD GENERAL MR GARRICK WAS ASKING FOR A LOT OF GUNS AND BULLETS IN ORDER TO WIN THE WAR BUT WE NEED TO TALK MR WEISSMAN ADDED BECAUSE THERE ARE TOO MANY GUNS AND BULLETS ON YOUR LIST HOWEVER HE SAYS MR GARRICK QUIT BEFORE THEY HAD A CHANCE TO TALK SERIOUSLY IN AN INTERVIEW LAST WEEK MR GARRICK SAID HE DECIDED TO LEAVE NIELSEN AND RETURN TO IRI BECAUSE THE REALITIES OF WHAT I WAS EXPECTED TO DO WERE A LOT DIFFERENT FROM THE EXPECTATIONS I'D BEEN GIVEN WHEN I WAS RECRUITED BUT MR WEISSMAN SAYS THAT MR GARRICK HAD NO REASON TO BE DISSATISFIED SINCE THE 1994 BUDGET PROCESS WASN'T EVEN OVER WHEN HE LEFT WHEN WORD GOT BACK TO IRI THAT MR GARRICK WAS UNHAPPY IT SEIZED THE CHANCE TO WEAKEN NIELSEN TWO WEEKS AGO IRI'S MR ABRAHAM MET MR GARRICK FOR DINNER AFTER TELLING HIM HE WAS A PERSON OUR PEOPLE HATE TO HATE MR ABRAHAM SAYS HE POPPED THE QUESTION ABOUT WHAT IT WOULD TAKE TO WIN HIM BACK TWO NIGHTS LATER THEY MET AT MR FULGONI'S CHICAGO TOWNHOUSE AND HAD WHAT MR GARRICK CALLS A BURYTHEHATCHET DINNER NEITHER HE NOR IRI OFFICIALS WILL SAY WHAT THE COMPANY OFFERED TO ENTICE HIM BACK ALTHOUGH PEOPLE CLOSE TO THE SITUATION SAY HIS BASE PAY IS ABOUT EQUAL TO THE APPROXIMATELY 450000 HE EARNED AT NIELSEN THE CARROT AT IRI APPARENTLY WAS A HEFTY PACKAGE OF LONGTERM STOCK OPTIONS MR GARRICK WHO HAD FELT HE WAS MOVING UP THE IRI LADDER TOO SLOWLY BEFORE ALSO HAS A NEW POSITION PRESIDENT AND CEO OF IRI NORTH AMERICA ON FRIDAY D&B NAMED MR GARRICK'S NIELSEN SUCCESSOR DAVID JS FLASCHEN 37 A SOFTWARE EXECUTIVE IN THE COMPANY'S LONDON OFFICE WHO IT SAID WOULD LEAD AN AGGRESSIVE NEW STRATEGY FOR NIELSEN AS FOR MR GARRICK D&B SAYS IT IS REVIEWING ITS OPTIONS WE'RE FRANKLY TROUBLED AS ARE SOME OF OUR CUSTOMERS BY SOME OF THE THINGS THAT IRI HAS DONE OVER THE PAST WEEK AND WE'RE ACTIVELY EXPLORING THEIR IMPLICATIONS MR WEISSMAN SAYS HE IS SORRY MR GARRICK LEFT BUT LIFE WILL GO ON STILL IT PROMISES TO BE MORE AUSTERE NIELSEN WHICH HAS CUT WORLDWIDE STAFF BY SEVERAL THOUSAND ALREADY PLANS FURTHER REDUCTIONS SINCE THE ANNOUNCEMENT THAT MR GARRICK WOULD RETURN TO IRI THAT COMPANY'S SHARES HAVE RISEN 62 CLOSING FRIDAY AT 3875 IN OVERTHECOUNTER TRADING D&B'S SHARES HAVE EDGED UP A BIT CLOSING FRIDAY AT 66875 ON THE NEW YORK STOCK EXCHANGE WITH MR GARRICK BACK IRI VOWS TO INCREASE THE PRESSURE ON OUR CROSSTOWN RIVALS EVEN MORE A MEMO TO EMPLOYEES FROM MESSRS FULGONI AND ABRAHAM SAYS GEORGE'S DEPARTURE FROM IRI WAS SIMILAR TO A TEMPORARY AND PAINFUL BREAKUP IN A RELATIONSHIP BOTH PARTIES DON'T REALIZE WHAT THEY HAVE UNTIL THEY ARE APART 9311150034 931115 TECHNOLOGY A SPECIAL REPORT CARRYING ONLINE AN ELECTRONIC ROUNDTABLE TWO DOZEN USERS AND ANALYSTS EXAMINE THE POTENTIAL AND SHORTCOMINGS OF NETWORKS WE'RE SO CLOSE COMPUTER NETWORKS ARE ON THE VERGE OF BECOMING A HUGE NEW COMMUNICATIONS FORCE OF BECOMING PART OF EVERYBODY'S DAILY LIFE BUT IS THERE SOMETHING THAT CAN OR SHOULD BE DONE TO HASTEN THE PROCESS ARE NETWORKS TOO COMPLICATED TO USE ARE THEY TOO UNWIELDY TOO FRIGHTENING FOR THE TYPICAL TECHNOPHOBE OR IS IT MORE OF A MARKETING HURDLE THAN A TECHNICAL ONE TO ANSWER THESE AND OTHER QUESTIONS THE WALL STREET JOURNAL TURNED TO SOME AVID USERS AND ANALYSTS OF COMPUTER NETWORKS AND AS BEFITS THE SUBJECT WE TURNED TO THEM USING THE SERVICES OF THE WELL A COMPUTER BULLETINBOARD SYSTEM BASED IN SAUSALITO CALIF THIS SETUP FOR THE DISCUSSION WHICH WAS MODERATED BY THOMAS E WEBER A REPORTER FOR THE DOW JONES NEWS SERVICE ALLOWED PANELISTS TO POST A COMMENT FOR ALL THE OTHER PANELISTS TO READ AND TO READ ALL THE OTHER COMMENTS POSTED TO THAT POINT HERE ARE EXCERPTS FROM THE DISCUSSION WHAT STEPS COULD ONLINE SERVICE PROVIDERS TAKE NOW AT THE PRESENT LEVEL OF TECHNOLOGY AND INFRASTRUCTURE TO MAKE THIS ONLINE WORLD MORE USERFRIENDLY FOR NOVICE USERS PUT ANOTHER WAY WHAT ARE SOME UNNECESSARY FLAWS IN ONLINE SERVICES THAT YOU USE DANIEL MURPHY I THINK IT'S CRITICAL FOR ONLINE SERVICES TO PAY ATTENTION TO THE USER INTERFACE WHAT A PERSON SEES ON THE SCREEN GRAPHICAL FRONT ENDS WHICH LET USERS MANIPULATE FILES BY POINTING TO PICTURES INSTEAD OF TYPING IN ARCANE COMMANDS WILL BE STANDARD SOONER RATHER THAN LATER I THINK SOME OF THE RAPID GROWTH OF AMERICA ONLINE A NATIONAL COMMERCIAL ONLINE SERVICE BASED IN VIENNA VA IS DUE TO THEIR GRAPHICAL INTERFACE SHARON FISHER I DON'T NECESSARILY AGREE WITH THAT GRAPHICS ARE NOT NECESSARILY MORE INTUITIVE THAN TEXT AND IF IT TAKES FOREVER TO CALL UP A GRAPHICAL INTERFACE I'M GOING TO GET FED UP REAL FAST AND SO WILL A NUMBER OF OTHER USERS ESPECIALLY IF THEY ARE CHARGED BY THE HOUR OR BY THE MINUTE WHAT I'D LIKE TO SEE IS UNIVERSAL ACCESS TO ALL ONLINE SYSTEMS VIA THE INTERNET THAT WOULD CERTAINLY MAKE ACCESS EASIER RATHER THAN HAVING TO CARRY A SHEAF OF PHONE ACCESS NUMBERS WITH ME ALL THE TIME HOOVER CHAN THERE'S A LOT TO BE SAID FOR GRAPHICAL USER INTERFACES I THINK THEY'RE A GOOD WAY FOR PEOPLE TO START USING A SYSTEM BUT THERE SHOULD ALSO BE ROOM FOR FLEXIBILITY SO THAT PEOPLE WHO ALREADY KNOW HOW TO USE A GIVEN SERVICE CAN GET TO THE INFORMATION THEY WANT USING SHORTCUTS ANOTHER PERSPECTIVE ON CHOICE OF INTERFACE IS A TECHNOLOGICAL ONE TO ENSURE BROAD ACCESS TO A BROAD RANGE OF USERS THERE IS A NEED TO ACCOMMODATE A WIDE RANGE OF COMPUTER HARDWARE AND SOFTWARE THERE ARE STILL MANY USERS WHO ARE USING EQUIPMENT THAT CANNOT USE A GRAPHICAL USER INTERFACE WE DON'T WANT TO BE IN A POSITION TO ICE THESE PEOPLE OUT OF ONLINE INFORMATION AND SERVICES JOSH GORDON I AGREE WITH THE DISTINCTION BETWEEN THE NEEDS OF THE EXPERT USER AND THOSE OF THE NEOPHYTE I DON'T MUCH CARE FOR A GRAPHICALUSERINTERFACEBASED BULLETINBOARD SERVICE I WANT MY COMMUNICATIONS WITH THE SERVICE TO HAVE AS LITTLE OVERHEAD AS POSSIBLE AND PRESENT ME ONLY WITH WHAT I ASK FOR WHEN I ASK FOR IT IF THE PRIMARY PURPOSE OF A BULLETINBOARD SERVICE IS SELLING ADVERTISING SPACE SUCH AS PRODIGY AN ONLINE SERVICE THAT IS A JOINT VENTURE OF SEARS ROEBUCK & CO AND INTERNATIONAL BUSINESS MACHINES CORP A GRAPHICAL USER INTERFACE IS THE BEST APPROACH BUT UNLIKE A NEWSPAPER WHERE THE ADS CAN BE EASILY IGNORED AND ONLY REQUIRE YOU TO TURN PAGES A BIT MORE OFTEN THE PRODIGY APPROACH DELAYS THE TRANSMISSION OF THE SOLICITED INFORMATION SO THAT THE UNSOLICITED ADVERTISING MATERIAL CAN BE PRESENTED REMOVING CONTROL OF THE INFORMATION FLOW FROM THE USER MUCH LIKE COMMERCIAL TV I DON'T LIKE THE MODEL OF USER AS PRODUCT ON COMMERCIAL TV NOR DO I LIKE IT ON A BULLETIN BOARD LISA KIMBALL I THINK THE PERFECTLY FRIENDLY INTERFACE IS TOO OFTEN SEEN AS THE HOLY GRAIL OF ONLINE SERVICE DESIGNERS IT'S THE APPLICATION STUPID IT DOESN'T MATTER HOW CUTE THE ICONS ARE IN MY SPREADSHEET SOFTWARE I'M NOT GOING TO USE IT TO BALANCE MY CHECKBOOK ANY MORE THAN I'VE USED THE SIMPLE CHECK REGISTER TECHNOLOGY MY BANK HAS BEEN GIVING ME FOR YEARS BALANCING MY CHECKBOOK ISN'T SOMETHING I'VE FOUND NECESSARY OR USEFUL TO DO I HAVEN'T RUN INTO THAT MANY PEOPLE WHO SAY I'D LOVE TO BE LOOKING UP MASSIVE AMOUNTS OF INFORMATION IN DATABASES AND FOLLOW A DOZEN SPECIALINTEREST NEWSGROUPS AND SEE WHAT THE WEATHER IS IN BOSTON AT THE MOMENT BUT SIGH IT'S TOO HARD TO FIGURE OUT THE INTERFACE INSTEAD THEY SAY SOOOOO WHAT DO I NEED THAT FOR IF THE ONLINE INDUSTRY IS GOING TO ATTRACT A LOT OF NEW USERS WE'RE GOING TO HAVE TO SPEND LESS TIME INVENTING NEW FEATURES AND MORE TIME FIGURING OUT THE ANSWER TO THE FUNDAMENTAL QUESTION OF DEFINING SOMETHING OF VALUE THAT PEOPLE NEED AND WANT MR GORDON A CLICHE I LEARNED A LONG TIME AGO IN THE PROGRAMDESIGN BUSINESS MIGHT BE A BIT RUDE BUT STILL DESIGN SOMETHING EVEN AN IDIOT CAN USE AND ONLY AN IDIOT WILL WANT TO USE IT MS KIMBALL MY DAD WAS A PRODUCER ON THE OLD TV SHOW OMNIBUS AND WAS ONCE GIVEN THE CHALLENGE OF MAKING A PROGRAM ON SYMPHONIC MUSIC MORE ACCESSIBLE HE ENDED UP HAVING LEONARD BERNSTEIN TALK DIRECTLY TO THE AUDIENCE AND WALK AROUND ON NOTES PAINTED ON THE FLOOR TO DEMONSTRATE SOMETHINGOROTHER ABOUT THE PIECE IT WAS STILL ON THE SAME TV SET AND THE SAME SYMPHONY BUT THE EXPERIENCE OF THE PROGRAM WAS CHANGED BY HAVING A PERSONAL GUIDE IN THE CONDUCTOR PERHAPS THE THING ONLINE SERVICES COULD DO TODAY TO MAKE THE TECHNOLOGY MORE USERFRIENDLY IS HIRE A FEW LESS PROGRAMMERS AND A LOT MORE GUIDES TEACHERS AND FACILITATORS TO BRIDGE THE GAP BETWEEN COMPLEX RESOURCES AND PEOPLE WHO CURRENTLY FIND THEM ARCANE PHIL AGRE THE NET INTERNET IS FULL OF INFORMATION THESE DAYS BUT I FIND MUCH OF IT PRETTY USELESS BECAUSE NOBODY IS PROCESSING IT INTO A FORM I WANT TO USE IT'S JUST SITTING THERE IN HUGE PILES WITH INTERFACES ON IT SO THAT I HAVE TO DO ALL THE WORK OF SORTING THROUGH IT WHAT'S REALLY NEEDED AT THIS POINT IS NOT MORE INTERFACE TECHNOLOGY BUT MORE PEOPLE WHO ACTIVELY CREATE USEFUL INFORMATION STREAMS FOR PARTICULAR AUDIENCES JUST TO TAKE A TRIVIAL EXAMPLE I'D VERY MUCH LIKE TO SUBSCRIBE TO SOMETHING THAT SENDS ME A DAILY DIGEST OF INFORMATION ABOUT SAN DIEGO WHERE I LIVE THIS INFORMATION MIGHT COME FROM SEVERAL SOURCES THE WEATHER COMPUTERS AT THE SCRIPPS INSTITUTE OF OCEANOGRAPHY NEWS ARTICLES FROM A WIRE SERVICE EARTHQUAKE INFORMATION NEW BOOKS ABOUT SAN DIEGO FROM PUBLISHERS' FALL BOOK LISTS AND HEAVEN KNOWS WHAT ELSE ASSEMBLING THESE DIGESTS COULD BE MOSTLY BUT NOT COMPLETELY AUTOMATED AND PROBABLY WOULDN'T BE MUCH WORK ESPECIALLY ONCE THE COMMUNITY OF PEOPLE DOING SUCH THINGS GOT SOME DECENT TOOLS TOGETHER BART EISENBERG INTUIT THE COMPANY THAT MAKES THE QUICKEN HOMEFINANCE PACKAGE PROVIDES A GOOD LESSON IN ATTRACTING THE MASSES TO AN UNFAMILIAR TECHNOLOGY AS LISA NOTED CHECKBOOKBALANCING SOFTWARE HAS GENERALLY BEEN IGNORED EVEN THOUGH IT WAS A PRIME RATIONALE FOR THE HOME COMPUTER INTUIT CRACKED THE MARKET BY RESEARCHING ITS PRODUCT MUCH THE WAY PROCTER & GAMBLE RESEARCHES SOAP ONE OF INTUIT'S COFOUNDERS IS AN EXP&G EXECUTIVE THE COMPANY INVITED THE PALO ALTO JUNIOR LEAGUE TO TRY OUT ITS PRODUCT ITS MANAGERS HAVE FOLLOWED USERS HOME WITH PERMISSION OF COURSE TO WATCH THEM TRY OUT THE PACKAGE ITS SUPPORT STAFF WILL TALK TO YOU FOR AN HOUR IF NEED BE EVEN THOUGH THE PACKAGE SELLS IN THE NEIGHBORHOOD OF 40 THE LESSONS FOR ANY WOULDBE ONLINE SUPPLIER TO THE UNINITIATED HAVE A SENSE OF YOUR AUDIENCE THAT PERMEATES TO YOUR BONES KNOW WHAT STUMPS THEM AND WHAT ATTRACTS THEM KEEP THE PRICE WAY DOWN AND THE HUMAN INTERFACE WAY UP AND MAKE THE COMPUTER INTERFACE SO CLEAN IT IS INSTINCTIVE ART BOTTERELL I THINK LISA HAS THE RIGHT IDEA BUT I'LL TAKE IT FURTHER IT'S THE METAPHOR STUPID THE KEY PROBLEM IN BRINGING ONLINE SERVICES TO THE MASS AUDIENCE IS EXPLAINING WHAT THE HECK THEY ARE WE NEED TO START FROM A KNOWN AS WITH THE HORSELESS CARRIAGE OR THE TV TYPEWRITER AND THEN MOVE TOWARD THE UNKNOWN INCREMENTALLY I'M NOT JUST TALKING ABOUT THE METAPHOR OF THE USER INTERFACE I'M TALKING ABOUT THE METAPHOR OF THE WHOLE UNDERTAKING A PERSONALIZED NEWS SERVICE AN ELECTRONIC NEIGHBORHOOD BAR ALL THESE AND MANY MORE HAVE HAD SOME SUCCESS BUT ARE ANY OF THEM GOING TO DRAW MASS AUDIENCES I THINK THAT'S THE QUESTION WE HAVE TO ADDRESS BEFORE TECHNICAL INTERFACE QUESTIONS BECOME MEANINGFUL TOM VALOVIC THIS PROBLEM IS AS I SEE IT PARTLY THE RESULT OF A LARGE KNOWLEDGE GAP BETWEEN THOSE WHO DESIGN SYSTEMS AND HAVE CERTAIN LEVELS OF TECHNICAL EXPERTISE AND THOSE WHO MIGHT ESCHEW INVOLVEMENT WITH COMPUTER AND COMMUNICATIONS SYSTEMS BUT HAVE A STRONG SENSE OF MANAGERIAL AND WORKFLOW SKILL SETS AND USAGE PATTERNS IN A GIVEN ENTERPRISE A RELATIVE HANDFUL OF PEOPLE HAVE KNOWLEDGE OF BOTH OF THESE AREAS THAT CAN BE APPLIED TO THE PROBLEM UNFORTUNATELY TASK COMPARTMENTALIZATION OFTEN ENSURES THAT THEY ARE KEPT FROM DOING SO BOB BACK UNFORTUNATELY PUTTING TOGETHER AN ONLINE SERVICE TO APPEAL TO THE GREATEST NUMBER OF PEOPLE REQUIRES THAT IT FOCUS ON THE LEAST COMMON DENOMINATOR NEWSPAPERS MAINTAIN THEIR CIRCULATION BY WRITING AT A SIXTHGRADE LEVEL TELEVISION PANDERS TO BASIC PRURIENT INTERESTS MY GREATEST FEAR IS THAT ENTERTAINMENT WILL BE THE DRIVING FORCE BEHIND ANY KIND OF DEVELOPMENT ONLINE WALLY BOCK LET ME SHARE SOME DATA WITH YOU BELOW ARE THE RESULTS OF A SURVEY OF INDEPENDENT SPEAKERS AND TRAINERS WE CALLED PEOPLE WHO WERE IN THE SPEAKING TRAINING OR CONSULTING BUSINESS AND WERE INDEPENDENTS THEY DO NOT WORK FOR ANOTHER COMPANY THOUGH THEY MAY HAVE SEVERAL PEOPLE WORKING FOR THEM THESE ARE FOLKS WHO ARE ABOVE AVERAGE IN EDUCATION AND AFFLUENCE AND WHO WORK WITH INFORMATION AS A PART OF THE WAY THEY MAKE THEIR LIVING THE RESULTS SURPRISED ME IN A COUPLE OF AREAS HERE THEY ARE WHY DO THEY HAVE MODEMS BUT ARE NOT ONLINE THE RESPONSES FALL INTO TWO GROUPS ONE GROUP BOUGHT A MODEM TO USE AS A FAX AND DOESN'T USE IT FOR ANYTHING ELSE THE OTHER GROUP IS THINKING ABOUT GETTING ONLINE OR TRIED IT ONCE THE SURVEY AND MY OWN EXPERIENCE OVER THE LAST COUPLE OF YEARS TRYING TO GET PEOPLE TO GO ONLINE LEAD ME TO SOME CONCLUSIONS ONE LOTS OF PEOPLE DON'T KNOW WHAT THEY'RE MISSING LIKE IN THE EARLY STAGES OF WORD PROCESSING FOLKS DON'T HAVE A WAY TO CONCEPTUALIZE WHAT BEING ONLINE MEANS MY MOST SUCCESSFUL METHOD OF GETTING FOLKS ONLINE IS TO WAIT UNTIL THEY CALL ME WITH A RESEARCH PROBLEM AND THEN INVITE THEM OVER FOR AN ONLINE SESSION TWO LOTS OF FOLKS DON'T SEE THE NEED TO SPEND BIG BUCKS WHY SPEND 100 TO GET STARTED ONLINE WHEN YOU CAN BUY A BUNCH OF BOOKS OR TAPES OR A VIDEO GAME OR CD INSTEAD THREE LOTS OF FOLKS ARE PUT OFF BY THE LEARNING CURVE IT TAKES TIME AND WE DON'T TELL PEOPLE THAT THE FRONT ENDS THAT SEVERAL PEOPLE HAVE TALKED ABOUT HERE ARE PART OF THE PROBLEM AS IS GENERAL COMFORT WITH THEIR COMPUTERS AND HOW TO USE THEM FOUR LOTS OF FOLKS STOP WHEN THEY GET THE FIRST BILL HOLY ST 150 FIVE SOME FOLKS ARE PUT OFF BY HOSTILITY OR RUDENESS ONLINE THERE'S LOTS OF JARGON AND AN IN CROWD THERE ARE ALSO PEOPLE WHO WILL ACT MORE AGGRESSIVELY IN CYBERSPACE THAN IN PHYSICAL SPACE FEMALESOUNDING NAMES CAN DRAW GROSSLY OFFENSIVE EMAIL AND ONLINE MESSAGES WHAT TO DO WHAT TO DO SHOW PEOPLE THE BENEFITS WE DON'T DO THAT WELL AT ALL AND MOSTLY WE WHO ARE ONLINE TALK TO OURSELVES ABOUT THIS ISSUE RATHER THAN LISTENING TO THOSE WHO ARE NOT HERE WITH US MAKE IT AFFORDABLE AND EASY TO USE HELP PEOPLE AFTER THEY SIGN UP GET THEM STARTED FIND A WAY TO ACTIVELY SUPPORT THEM THROUGH THE FIRST COUPLE OF MONTHS CLEAN UP OUR ACT FREE SPEECH IS VITAL BUT OFFENSIVE SPEECH NEEDS TO BE OUT THERE IN SUCH A WAY THAT THOSE WHO FIND IT OFFENSIVE DO NOT HAVE TO LISTEN TO IT UNDERSTAND THAT SOME OF THIS PROBLEM IS GENERATIONAL KIDS WHO GROW UP WITH COMPUTERS AND AN ONLINE WORLD JUST THINK IT'S THE WAY THINGS ARE TOM MANDEL ONE THING YOUR DATA MEANS IS THAT THERE IS A BIG MARKETING OPPORTUNITY TO REACH OUT TO PEOPLE WHO BOUGHT MODEMS FOR FAX TO NUDGE THEM INTO TRYING THE ONLINE WORLD MIKE GODWIN IN MY EXPERIENCE THERE ARE A NUMBER OF BARRIERS TO NEW USERS OF ONLINE CONFERENCING SYSTEMS THE FIRST IS THAT YOU HAVE TO LEARN A LOT OF BASIC STUFF BEFORE YOU KNOW ENOUGH TO ACCESS A CONFERENCING SYSTEM SPECIFICALLY YOU HAVE TO GO THROUGH THREE STAGES ONE LEARN THE BASICS OF YOUR COMPUTER TWO LEARN THE BASICS OF TELECOMMUNICATIONS THAT IS YOUR MODEM THREE LEARN THE BASICS OF THE SYSTEM YOU'RE CALLING FEW PEOPLE CAN GET MOM ONLINE THE SAME DAY THAT MOM BUYS A COMPUTER YOU HAVE TO HANDHOLD THE TECHNICALLY UNSOPHISTICATED USERS QUITE A BIT WSJ OBVIOUSLY THE KILLER APPLICATION PHENOMENON CAN BE CRITICAL IN THE ADOPTION OF ANY NEW TECHNOLOGY WE'VE ALREADY TALKED ABOUT IT A LITTLE BUT PERHAPS WE COULD EXPAND ON IT HERE AND THROW OUT MORE IDEAS FOR POTENTIAL KILLER APPS THAT COULD SPARK A RUSH TO ONLINE SERVICES ARE THERE TRUE KILLER APPS OUT THERE ALREADY JUST WAITING FOR THE RIGHT INTERFACE AND THE RIGHT PRICE IS THE KILLER APP AN ONLINE ACTIVITY OR MAYBE A GADGET IS IT POSSIBLE THAT THE EVOLUTION OF PORTABLE COMPUTING WILL BE WHAT DRIVES THE ADOPTION OF ONLINE SERVICES MR VALOVIC ONE VERY LIKELY KILLER APPLICATION FOR ONLINE SERVICES IS JOB RETRAINING THE UNEMPLOYED AUTO WORKER OR OTHER TRANSITIONAL CONTRIBUTOR CAN SIT AT HOME BE TRAINED INTERACTIVELY TESTED ONLINE AND QUALIFIED BY AN INTERESTED EMPLOYER KATHLEEN CREIGHTON THE FIRST ONE THAT COMES TO MIND IS WIRELESS COMMUNICATING THEN AS THE PRICE GOES DOWN IT WILL MAKE MORE SENSE TO PEOPLE TO AT LEAST HAVE AN EMAIL ADDRESS MS KIMBALL I WANT TO SEND EMAIL FROM MY SWATCH MR MANDEL THERE IS NO KILLER APP UNLESS ONE MEANS AT A HIGHER LEVEL OF SERVICE EG EMAIL THE ONLINE SERVICE WORLD IS HYPERSEGMENTED AND WILL REMAIN SO FROM TIME TO TIME DRIVEN BY EVENTS THERE WILL BE HIT CONFERENCES OR NEWS DISCUSSIONS EG THE GULF WAR HERE WHICH SUCKED UP ABOUT 90 OF EVERYONE ON THE WELL FOR A FEW WEEKS AND OF COURSE THERE MAY BE HIT GAMES BUT THAT'S AS CLOSE AS IT WILL GET MR GORDON PERSONAL FILTERS WITH THE VAST AMOUNT OF INFORMATION AVAILABLE OUT THERE THE PROBLEM IS NOT GETTING THE INFORMATION THE PROBLEM IS REJECTING THE INFORMATION A TOOL A SYSTEM A PARADIGM WHATEVER THAT WILL ALLOW EVEN A RELATIVELY NAIVE USER TO COMFORTABLY AND EASILY KEEP AN ELECTRONIC EYE ON JUST THOSE PIECES OF INFORMATION THAT INTEREST THE USER AND CAN DO SO IN SEMIREAL TIME SO THAT THEY HAVE THE NEWS JUST AS SOON AS ANYONE BESIDES THE PERSON WHO FIRST MADE THE INFORMATION AVAILABLE TO THE NETWORK THIS WILL BE THE BASIS FOR A KILLER APP MR BACK JOSH MAKES A GOOD POINT ABOUT FILTERS BUT THE KILLER APP MAY BE THE PROGRAM THAT DOESN'T FILTER BUT SEARCHES FOR THE INFORMATION THE APP THAT WOULD PUT TOGETHER MY MORNING PAPER WOULD GET MY VOTE MS KIMBALL I THINK EMAIL IS THE KILLER APPLICATION IN THE PAST FEW YEARS WE'VE FOUND THAT OUR ABILITY TO ATTRACT MANAGERS IN ORGANIZATIONS TO CONFERENCING HAS SKYROCKETED AS A RESULT OF THEIR FAMILIARITY WITH AND USE OF EMAIL MR BACK EMAIL WON'T DRAW MORE PEOPLE IN UNTIL MORE PEOPLE ARE IN POTENTIAL NEW USERS WON'T SIGN UP TO GET ONLINE UNLESS THEY KNOW THAT A NUMBER OF THEIR CONTACTS ARE ALREADY ONLINE THEY HAVE NO NEED FOR AN ADDRESS UNTIL THERE IS SOMEONE TO SEND TO AND RECEIVE FROM EMAIL ONLY REPLACES EXISTING MEANS OF COMMUNICATION IT ALMOST SEEMS A WASTE TO KEEP ADDING ROADS IN CYBERSPACE ONLY TO AVOID PAYING POSTAGE CLIFF FIGALLO VIDEO EMAIL WILL BE A KILLER APP NOT SO MUCH FOR BUSINESS USE BUT FOR PERSONAL USE PEOPLE IN THIS SCATTERED SOCIETY WILL WANT TO SEE EACH OTHER FAMILY FRIENDS NEW EMAIL ACQUAINTANCES MAYBE NOT BOSSES COWORKERS AND CLIENTS THOUGH GEORGE A GLEASON VIDEO EMAIL I THINK YOU'RE ON TO SOMETHING HERE VIDEOPHONE AS SUCH WILL PROBABLY ALWAYS MEET WITH A CERTAIN AMOUNT OF RESISTANCE ON THE BASIS THAT IT REMOVES A KEY ELEMENT OF PRIVACY PEOPLE DON'T WANT EVERYONE WHO CALLS TO SEE WHAT THEY LOOK LIKE DON'T WANT THEIR HOMES VISIBLE TO STRANGERS DON'T WANT THEIR COWORKERS TO SEE THEM ANSWER THE PHONE AT HOME WHILE DRESSED IN THEIR UNDERWEAR OR WITH THE KIDS CHASING THE DOG IN THE BACKGROUND BUT VIDEO EMAIL AHA HERE YOU HAVE THE POSSIBILITY FOR REALLY CREATIVE USES BRINGING BACK SOME OF THE PERSONAL STUFF THAT IS PRESENT IN WRITTEN LETTERS BUT ABSENT IN TEXT EMAIL DEAR FRIEND'S NAME HERE ARE A FEW PICTURES OF OUR FAMILY ON VACATION OR WHAT DO YOU THINK OF THIS PAINTING I'M WORKING ON OR JUST LITTLE THINGS LIKE DOODLES AND STUFF THAT PEOPLE CAN DO IN SNAILMAIL BUT NOT IN TEXT EMAIL ADD TO THIS AUDIO ATTN A&R DEPARTMENT FOLLOWING ARE THE TWO SONGS YOU REQUESTED FROM OUR DEMO OR DEAR MOM HERE'S OUR BABY SAYING HER FIRST WORDS MR AGRE I THINK THE NOTION OF A KILLER APP IS MISGUIDED IN A NUMBER OF WAYS FIRST PEOPLE AT LEAST NONTECHNICAL PEOPLE DON'T BUY APPLICATIONS THEY BUY SERVICES SECOND THE IDEA THAT ONE SINGLE APPLICATION MAKES THE DIFFERENCE TENDS TO SNEAK IN A PARTICULAR MODEL OF THE WORLD NAMELY MASS MARKETING AN ALTERNATIVE IS THAT THE INFRASTRUCTURE PERMITS AN EXPLOSION OF THOUSANDS OF SERVICES WITH LOW LOW BARRIERS TO ENTRY THIRD THE NOTION OF A KILLER APP TENDS TO PRESUPPOSE A HOMOGENEITY OF THE POTENTIAL USER COMMUNITY I THINK WHAT WE'RE SEEING INSTEAD IS THE NETWORK WORLD GROWING OUTWARD LAYER BY LAYER FROM THE INITIAL UNIVERSITY AND INDUSTRY CORE PEOPLE ARE ATTRACTED BY WHAT'S ALREADY THERE AND THEN THE NEW PEOPLE PROVIDE THE CRITICAL MASS FOR A NEW ROUND OF SERVICES WHICH THEN ATTRACT A NEW LAYER OF PEOPLE EACH STEP IN THIS PROCESS WORKS IN A DIFFERENT WAY WITH NO ONE MAGIC BULLET AT ANY TIME BUT RATHER A SPECTRUM OF BRIDGES FROM ONE COMMUNITY TO THE NEXT SO NOW MAYBE WE CAN REFORMULATE THE QUESTION WHICH NEW SERVICES AND ELEMENTS OF INFRASTRUCTURE CAN PROVIDE A BRIDGE FROM THE EXISTING USER COMMUNITIES TO PARTICULAR CANDIDATE COMMUNITIES THAT'S A QUESTION THAT'S ABOUT 20 TECHNICAL AND 80 SOCIAL MR GLEASON I'LL HAVE TO AGREE WITH THE OVERALL TONE OF CRITIQUE ON THIS POINT A KILLER APP IS SOMETHING EVERY COMPANY WOULD DEARLY LOVE TO FIND AND MARKET AND PROSPER FROM BUT THAT PLACES THE POPULARITY QUESTION AT THE MERCY OF WHOEVER HAS THE BEST MARKETING AND ADVERTISING AND IT ALSO TENDS TO MISS OTHER QUESTIONS LIKE SOCIAL IMPACT TO MY MIND THE KILLER APP IS SOMETHING THAT WILL GET PEOPLE INTERESTED IN CIVIC INVOLVEMENT WILL FOSTER A GROWING SENSE OF BASIC CURIOSITY ABOUT THE WORLD AT LARGE AND WILL BRING PEOPLE CLOSER TOGETHER IN THEIR LOCAL COMMUNITIES BUT THOSE GOALS ARE ON AN ENTIRELY DIFFERENT AXIS THAN MARKET SHARE OR EASE OF USE HANK ROBERTS PRINT PUBLICATIONS ARE IN THE BUSINESS OF DELIVERING READERS TO ADVERTISERS I'D GUESS THAT THE KILLER APP ALSO WILL BE IN THAT BUSINESS AN APPLICATION THAT TRACKS ITS USERS' PREFERENCES AND CHOICES IN WHATEVER THEY'RE DOING WHETHER CHOOSING VIDEOS OR GROCERIES OR PRESCHOOLS OR VACATIONS OR COMMUTE ROUTES AND THEN MAKES IT EASY TO RESELL THAT INFO TO OTHER MARKETERS FROM MY PERSPECTIVE A KILLER APP WOULD BE ONE WHERE A BUSINESS TOOK ALL THE ADVERTISING ABOUT PRICES AND TERMS FOR WHATEVER PRODUCT OR SERVICE I WAS INTERESTED IN AND GAVE ME AN APPLICATION THAT WOULD LET ME CHOOSE ACCORDING TO COST AND CONVENIENCE MR BOCK VISICALC A SPREADSHEET PROGRAM IS OFTEN NOMINATED AS THE KILLER APP FOR THE PERSONAL COMPUTER WHY I THINK IT WAS BECAUSE IT HAD TWO CRUCIAL CHARACTERISTICS FIRST IT WAS A HIGHLY VALUABLE APPLICATION IF YOU WERE DOING ANY KIND OF MANUAL SPREADSHEET JOB LIKE BUDGETING OR SOURCE/USE ANALYSIS THIS REALLY MADE YOUR JOB EASIER AND MADE YOU MORE PRODUCTIVE SECOND THOUGH WAS THAT YOU COULD DEMONSTRATE THE VALUE TO PEOPLE OK TOM LET'S PUT IN A COUPLE OF COLUMNS OF YOUR BUDGET NOW WHAT HAPPENS IF YOU CHANGE INCOME PROJECTIONS JUST CHANGE THAT NUMBER THERE AND PUFF OF SMOKE ROLL OF DRUMS RELEASE OF PIGEONS EVERYTHING ELSE CHANGES AND THE PACKAGES AND COMPUTERS JUMPED OFF THE SHELVES AND INTO WAITING TRUNKS TO BE CARRIED AWAY BY EXPECTANT NEW USERS IF THERE'S GOING TO BE A KILLER APP FOR ONLINE IT'S LIKELY TO BE SOMETHING THAT SOMEONE DEVELOPS TO SOLVE A PROBLEM AND THAT PROBLEM TURNS OUT TO BE ONE THAT LOTS OF PEOPLE HAVE WE'LL DISCOVER THAT IT'S A KILLER APP AFTER THE FACT IF IT'S NOT ONLY POWERFUL AND HELPFUL BUT ALSO IF THE BENEFITS OF USING IT ARE EASY FOR THE POTENTIAL BUYER TO IMAGINE MR BOTTERELL I'D LIKE TO POINT OUT THAT THE IMAGE OF A KILLER APP A TERM FROM THE HISTORY OF PERSONAL COMPUTERS REINFORCES THE COMPUTER AS THE METAPHOR FOR ONLINE SERVICES I'M CONCERNED THAT WE'RE ENGAGING IN THE DISCUSSION OF THE '80S BY FRAMING THE ISSUE IN THOSE TERMS JUST BECAUSE THE ONLINE POPULATION OF THE PAST AND PRESENT HAS BEEN COMPUTERBASED AND ORIENTED DOES NOT MEAN THAT IT WILL ALWAYS BE SO RADIO LAID IMPORTANT SOCIAL AND ECONOMIC GROUNDWORK FOR TELEVISION I SUSPECT THAT THE COMPUTER ONLINE ERA IS ONLY A PROLOGUE TO A LARGER PHENOMENON THAT WON'T BE DEFINED IN TERMS OF COMPUTERS AT ALL JIM RUTT I AGREE WITH THE OTHERS ABOVE THAT FOR THE TIME BEING THE KILLER APP IS EMAIL THE NUMBER OF PEOPLE WITH ACCESS TO SOME KIND OF EMAIL IS PROBABLY REACHING THEORETICAL CRITICAL MASS HOWEVER IT'S BROKEN INTO SO MANY UNCONNECTED OR CLUMSILY CONNECTED ISLANDS THAT IN THE REAL WORLD THE PERCEPTION IS THAT WE ARE FAR FROM CRITICAL MASS IF THE ONLINE COMPANIES WERE SMART THEY WOULD COMMISSION A GROUP TO DO TWO THINGS GREATLY SIMPLIFY BETWEEN SYSTEM EMAIL ADDRESSING AND PERHAPS EVEN MORE IMPORTANT DEVELOP INEXPENSIVE AND VERY EASYTOUSE GATEWAYS FROM EXISTING LOCALAREANETWORKBASED EMAIL TO THE WORLD WSJ TO BRANCH OFF IN A COMPLETELY DIFFERENT DIRECTION HOW WILL THE SIZE OF ONLINE SERVICES AND THE LEVEL OF PARTICIPATION AFFECT THEIR EASE OF USE AND ACCESSIBILITY WILL GENERALINTEREST SERVICES REACH A POINT WHERE THEY ARE TOO BIG WILL THE MESSAGE BOARDS BECOME SO HEAVILY USED THAT THEY WILL BECOME TOTALLY CONFUSING IF SO WHERE IS THAT POINT AND WHAT CAN WE DO TO ALLEVIATE THE PROBLEM MR FIGALLO IT'S NOT THE SYSTEM SO MUCH AS THE ATTITUDE OF THE STAFF THAT MANAGES THE SYSTEM COMMUNITY WILL HAPPEN AMONG ANY GROUP OF PEOPLE ALLOWED TO COMMUNICATE WITH EACH OTHER A SMART SYSTEM WILL SUPPORT AND ENCOURAGE THE GROWTH OF COMMUNITY BY PROVIDING SOFTWARE THAT FOSTERS IT BY ENLISTING THE PARTICIPATION OF ITS USERS IN VARIOUS PARTS OF THE PRODUCT DESIGN AND MANAGEMENT OF THE SYSTEM AND BY ACTIVELY PARTICIPATING IN THE ONLINE LIFE OF THE SYSTEM MR EISENBERG WHEN A SYSTEM GETS TO A CERTAIN SIZE PEOPLE DO INDEED SEEK OUT QUIETER HAVENSNARROWER SPHERES OF DISCUSSION MEANWHILE MAINSTREAM TOPICS BECOME CHALLENGING OR IMPOSSIBLE TO PARTICIPATE IN TURN OFF THE COMPUTER FOR AN HOUR AND 20 POSTS HAVE COME IN CONTRIBUTE TO THE TOPIC AND TWO PEOPLE HAVE SLIPPED IN BY THE TIME YOU'VE COLLECTED YOUR THOUGHTS PERHAPS ONLINE SYSTEMS ARE LIKE COLLEGES THEY EXCEL IN PERSONAL ATTENTION OR DEPTH AND VARIETY BUT SELDOM IN BOTH MR BACK I DON'T BELIEVE THAT SIZE OF A SERVICE WILL BE AS LIMITING A FACTOR AS THE SIZE OF A DISCUSSION WITHIN THAT SERVICE I THINK THAT PEOPLE WILL ALWAYS SEEK OUT MOREFOCUSED DISCUSSION GROUPS WHETHER THEY ARE ONLINE OR AT A COCKTAIL PARTY BROADER TOPICS WILL BY NECESSITY BREAK INTO SMALLER MOREFOCUSED DISCUSSIONS WHERE ASPECTS OF THAT TOPIC CAN BE DISCUSSED BOB JACOBSON SIZE IS LESS A PROBLEM THAN IS ANONYMITY NOTHING MAKES SOMEONE FEEL LESS PARTICIPATORY IN THE MATERIAL WORLD OR ONLINE THAN BEING IGNORED OR LEFT TO FEEL SMALL AND INSIGNIFICANT WHETHER SUCH A STATEMENT HOLDS IN ALL CULTURES IS PROBLEMATIC BUT IT'S UNLIKELY THAT A SERVICE FOUNDED ON PERSONAL EXPRESSION WILL SUCCEED WHERE PEOPLE FEEL OTHERWISE BROCK N MEEKS THE WAY AN ONLINE SERVICE EVOLVES SOME WOULD SAY MUTATES IS ANALOGOUS TO A COCKTAIL PARTY HAVE A FEW GUESTS OVER AND EVERYONE SITS AROUND IN THE LIVING ROOM SIPPING CHARDONNAY CRANK UP THE NUMBER OF GUESTS AND WHAT HAPPENS WELL TWO OR THREE GROUPS FORM ONE IN THE KITCHEN LOOKING FOR MORE TO EAT OR DRINK OR WHATEVER ANOTHER IN THE DEN SWILLING BEER WHILE TRYING TO CATCH A FEW INNINGS OF THE NATIONAL LEAGUE WEST PENNANT RACE THE LAST IN THE FRONT ROOM EMPTYING YET ANOTHER BOTTLE OF CALIFORNIA PREMIUM WINE NOW DOUBLE THE NUMBER OF GUESTS AND YOU TRIPLE THE NUMBER OF SMALL GROUPS THAT FORM AND QUADRUPLE THE TYPES OF BEVERAGES NEEDED TO SATISFY EVERYONE SAME THING HAPPENS ONLINE IT EVEN HAPPENS WITHIN SPECIALINTEREST GROUPS A FORUM FORMS THEN IT SPLITS INTO HARDWARE AND SOFTWARE WHICH SPLITS AGAIN INTO APPS AND UTILITIES SO THE ELECTRONIC UNIVERSE JUST SEEKS ITS OWN LEVEL LIKE A COCKTAIL PARTY OR A GALLERY OPENING NOW WHERE'S THE GROUP WITH THE IMPORTED BEER GAIL WILLIAMS YEP IT'S EASY TO TACK ON AN ADDITION OR A DECK IN CYBERSPACE WHAT'S MOST IMPORTANT IS THAT AWARENESS OF COMMUNITYBUILDING SKILLS AND GROUP DYNAMICS ARE SUCCESSFULLY TRANSFERRED TO THE NEW ROOMS BE SURE TO BRING SOME OF THAT ANCHOR STEAM BEER INTO THE GARDEN OVER HERE AND OH GOOD SOMEONE'S PROVIDED A TRASH BAG MR GLEASON INTERNET NOW FOR ME THAT'S TOO BIG IN THE SENSE THAT I SIMPLY DON'T HAVE ENOUGH HOURS IN THE DAY TO GO LOOKING AROUND IN ALL THE AREAS THAT INTEREST ME OR FOLLOWING UP ALL THE CONVERSATIONS OR PEOPLE WHO I MIGHT LIKE TO EMAIL OR GET TO KNOW OTHERWISE WSJ IN BASIC NONTECHNICAL TERMS HOW WOULD YOU GO ABOUT EVANGELIZING THE ONLINE WORLD TO SOMEONE WHO HAS NEVER LOGGED ON ANYWHERE MR EISENBERG I'VE DONE THAT KIND OF EVANGELIZING AND IT CAN BE SURPRISINGLY STRAIGHTFORWARD EVEN MY MOTHER A LIFELONG TECHNOPHOBE A WOMAN WHO HAS HAD TROUBLE MASTERING THE OPERATION OF A TAPE RECORDER IMMEDIATELY UNDERSTOOD THE BENEFITS OF AN ONLINE COMMUNITY INDEED HER GREATEST CONCERN WAS NOT WHETHER SHE WOULD MASTER THE INTERFACE BUT THAT SHE WOULD GROW ADDICTED TO THE SERVICE AND COMMIT TOO MANY HOURS THAT'S A CONCERN SHARED BY MANY ONLINE VETERANS AND I WAS SURPRISED BY HER INSIGHT MR BACK ONLINE SERVICES GIVE ONE THE ABILITY TO REACH OUT AND DISCUSS ISSUES AND IDEAS WITH OTHERS WHO ARE NOT RIGHT THERE IN YOUR NEIGHBORHOOD ONLINE SERVICES ARE TO ME A WORLDWIDE COFFEEHOUSE WHERE I CAN TALK TO A 14YEAROLD IN CALIFORNIA OR A BANK PRESIDENT IN BRAZIL WITHOUT LEAVING MY HOUSE IN CHICAGO NO OTHER SERVICE CAN PROVIDE THAT SAME ABILITY TO INTERACT GLOBALLY AT SUCH MINIMAL COST THE CHALLENGES WE FACE AND WILL CONTINUE TO FACE WILL REQUIRE MORE OF A WORLDVIEW THAN EVER BEFORE THE SOLUTIONS TO THOSE CHALLENGES ARE ONLY GOING TO BE ARRIVED AT WHEN WE BETTER UNDERSTAND WHAT IS GOING ON ELSEWHERE THIS IS TRUE NOT ONLY IN BUSINESS AND RESEARCH BUT IN BASIC EDUCATION AND OUR ABILITY TO INTERACT SOCIALLY I CAN THINK OF NO BETTER WAY TO GET A BETTER GRIP ON WHAT IS GOING ON ELSEWHERE THAN BEING ABLE TO GET OUT AND DISCUSS THOSE CHALLENGES AND SOLUTIONS WITH THOSE WHO ARE OUT THERE ONLINE SEEMS TO BE THE PLACE TO DO IT MR GLEASON WHAT I TELL FRIENDS ABOUT THE WELL IMAGINE A CAFE WITH A BUNCH OF ROOMS AND IN EACH ROOM IS A BUNCH OF TABLES EACH TABLE HAVING A SEPARATE CONVERSATION NOW IMAGINE THAT YOU CAN WALK AROUND AND JOIN IN AND NEVER MISS ANYTHING BECAUSE YOU GET A COMPLETE REPLAY UP TO THE MOMENT YOU JOIN EACH CONVERSATION AND GENERALLY IMAGINE CORRESPONDENCE IN WHICH EACH LETTER IS DELIVERED ALMOST INSTANTLY AND TO WHEREVER THE INTENDED RECIPIENT MAY BE AT THE MOMENT IMAGINE BEING ABLE TO CORRESPOND WITH SOMEONE ON A DAILY BASIS PRETTY SIMPLE STUFF BUT IT SEEMS TO GET THE POINT ACROSS MR MEEKS BOTTOM LINE IS BEING ABLE TO POINT OUT IN CONCRETE TERMS HOW THIS TECHNOLOGY AFFECTS WHERE PEOPLE LIVE AND BREATHE I HOOKED MY DAD WHEN I SHOWED HIM HOW HE COULD GET AN AUTOMATIC FAX THAT CHARTED HOW HIS STOCK PORTFOLIO HAD DONE THAT DAY SENT RIGHT TO HIS OFFICE MR BOCK HOW TO EVANGELIZE A GOOD CHOICE OF WORDS INCIDENTALLY SINCE IT RELATES TO SHARING GOOD NEWS WELL WE CAN FOLLOW WHAT THE CHURCHES KNOW ABOUT EVANGELISM BRINGING IN MEMBERS AND TRY TO APPLY IT HERE WE HAVE TO BE IN TOUCH WITH FOLKS WHO ARE NOT ONLINE IF WE ONLY TALK TO FOLKS LIKE US WE LOSE BOTH INSIGHT AND OPPORTUNITY WE HAVE TO INVITE THEM THIS WAS SAID WELL ABOVE THE BEST TIME TO INVITE THEM IS WHEN THEY HAVE A PROBLEM THAT ONLINE CONNECTIONS AND COMMUNITY CAN HELP THEM SOLVE THEY HAVE TO EXPERIENCE THE MEDIUM MOST COMMITMENT DECISIONS ARE MADE EMOTIONALLY AND THEN EVALUATED LOGICALLY THE EXPERIENCE HAS TO BE GOOD IT'S PART OF OUR JOB TO MAKE SURE THAT IT IS RATHER THAN JUST HANDING SOMEBODY A STARTER KIT AND TELLING THEM TO HAVE FUN MR FIGALLO WHAT ARE USED NOW ARE PITCHES TO PEOPLES' NEEDS FOR CONVENIENT ACCESS TO NEWS FINANCIAL INFO PEOPLE ENCYCLOPEDIC INFO THAT WOULD SEEM TO BE ENOUGH BUT IT HAS TO BE MORE THAN THAT I THINK YOU HAVE TO BRING THE CONNECTION TO THE PEOPLE TO ATTRACT THE NEXT LAYER OF POTENTIAL USERS MS CREIGHTON CLIFF GOOD POINT ADVERTISING OF ONLINE SERVICES IS SO DULL PRODIGY PERKED IT UP A TINY BIT BUT NOT MUCH ANYONE WHO'S LIVED WITH SOMEONE WHO'S ONLINE ALL THE TIME CAN TELL STORIES ABOUT HEARING LAUGHTER COMING FROM THE NEXT ROOM OR THAT PERSON'S FUMING OVER AN ARGUMENT THAT'S BEING HELD ON A COMPUTER ETC IT REALLY ENGAGES US IN WAYS THAT HAVEN'T BEEN EXPLOITED BY THE ONLINE SERVICES MR JACOBSON I DON'T GENERALLY EVANGELIZE IT TAKES TOO LONG TO EXPLAIN HOW TO GET ONLINE BUT WHEN I GET ENTHUSIASTIC ABOUT AN EXPERIENCE ONLINE SOMETIMES THE ENTHUSIASM IS CONTAGIOUS SOMETIMES MORE OFTEN I NEED A COLLEAGUE OR BUSINESS ASSOCIATE TO BE MORE READILY ACCESSIBLE AND TRY TO FORCE THEM ONTO THE NET THIS WORKS WELL BECAUSE THE TANGIBLE REWARDS OF ONLINE BUSINESS PRACTICE ARE IMMEDIATELY CLEAR WE NEED BUSINESSES NEED TO MAKE TIME AVAILABLE FOR EMPLOYEES TO GET ON AND SCAN AT LEAST IN THE INFO INDUSTRY IT IS NOT A WASTE OF TIME FOR AN EMPLOYEE TO GET ON THE NET AND POKE AROUND COMPUTER GAMES USED TO THE BE THE GATEWAY TO COMPUTER LITERACY NOW ONLINE TIME FILLS A SIMILAR ROLE MS WILLIAMS ONE OF THE WAYS THE WELL HAS DESCRIBED ITSELF ON BROCHURES IS ACCESS TO PEOPLE AND IDEAS THIS FOLLOWS FROM THE OLD WHOLE EARTH CATALOGUE MOTTO ACCESS TO TOOLS ONE OF THE MORE POWERFUL AND GALVANIZING VERSIONS OF ACCESS TO PEOPLE IS ACCESS TO PEOPLE YOU KNOW AND CARE ABOUT COUSIN CINDY FAVORITE AUTHOR JOE OR SOMEONE YOU'RE JUST GETTING TO KNOW THROUGH THEIR ONLINE WRITINGS THE GREAT ENHANCEMENT TO ACCESS TO IDEAS IS NOT JUST ACCESS TO RECEIVE IDEAS BUT THE ABILITY TO EXPRESS YOUR OWN IDEAS AND TO REFINE THEM WITH INTELLIGENT AND CREATIVE FEEDBACK WHEN IT BECOMES ACCESS TO PEOPLE YOU CARE ABOUT AND TO YOUR OWN EMERGING IDEAS THAT'S WHEN SOMETHING HAPPENS THAT IS DIFFICULT TO EXPLAIN TO MORE PASSIVE CONSUMERS OF MEDIA FOR THIS REASON ONLINE INTERACTION CAN HAVE A POWERFUL EFFECT ON LIVES SOME PEOPLE DESCRIBE A CHANGE IN SPIRITUAL TERMS MOVING TO TOLERATION AND RESPECT FOR OTHERS OR TO STANDING UP FOR ONE'S IDEAS FOR THE FIRST TIME AND SPEAKING OUT SOME NOTICE THAT THEIR SENSE OF IDENTITY AND THEIR WRITER'S VOICE CHANGES AND MATURES HOWEVER THIS IS NOT SOMETHING WE CAN EVANGELIZE OR MARKET SINCE IT ISN'T WHAT MOST PEOPLE DO WITH THE MEDIUM AND PEOPLE WHO WANT TO SEE A FRESH JOKE OR SWAP FILES WITH A COLLEAGUE ARE THE BREAD AND BUTTER EDWARD VIELMETTI THE EASIEST NEW USER TO ATTRACT IS SOMEONE IN A COMMUNITY THAT'S ALREADY ONLINE SHOW ME SOMEONE WHOSE FRIENDS ALL HAVE EMAILTHEY'LL HAVE EMAIL BEFORE TOO LONG THE RIPE TIME TO EVANGELIZE IS WHEN THE COMMUNITY IN QUESTION PROFESSIONAL COMMUNITIES LIKE NEWSPAPER REPORTERS OR HOBBYIST COMMUNITIES LIKE QUILTERS IS ALREADY PARTLY ONLINE TAKE THE EXPERIENCES OF THE FIRST FEW BRAVE SOULS AND EARLY ADOPTERS SYNTHESIZE WHAT IT IS THAT MAKES THE NETWORK ATTRACTIVE TO THEM AND THEN TELL THE GREATER GROUP ABOUT IT LENA M DIETHELM CLIFF SAID YOU HAVE TO BRING THE CONNECTION TO THE PEOPLE TO ATTRACT THE NEXT LAYER OF POTENTIAL USERS BINGO I KNOW LOTS OF PEOPLE WITH COMPUTERS AND SOME PEOPLE WITH COMPUTERS AND MODEMS VERY FEW OF THE ONES WITH MODEMS ARE ONLINE AND THE ONES WITH COMPUTERS WITHOUT MODEMS CAN'T QUITE MAKE THE LEAP TO WHY THEY WOULD WANT ONE NO DOUBT THIS IS LIKE THE EVOLUTION OF TELEPHONE COMMUNICATION IN AMERICA TELEPHONE NUMBERS ARE UBIQUITOUS AND CHEAP FOR A LONG TIME THOUGH THE BARRIERS TO ENTRY WERE TOO FORMIDABLE I REMEMBER WHEN MAKING A LONGDISTANCE CALL WAS A REALLY BIG DEAL LONGDISTANCE WAS RELATIVELY EXPENSIVE AND PEOPLE WOULD TALK ONLY FOR A VERY FEW MINUTES TODAY WE THINK NOTHING OF DIALING OR FAXING ACROSS THE WORLD WHAT CHANGED THE CHARGES GOT CHEAPER GLOBAL DIALING GOT EASIER YOU DIDN'T NEED AN OPERATOR ANYMORE AND MORE COUNTRIES GOT EASIER TO REACH AND THE PSYCHOLOGICAL DISTANCE BETWEEN HERE AND THERE GOT SMALLER LIKE CLIFF SAID BRING THE CONNECTION TO THE PEOPLE THEN THE PEOPLE WILL MAKE THE PSYCHOLOGICAL DISTANCE SMALLER THROUGH UBIQUITY AND USE MR FIGALLO I HAD ANOTHER OFFTHEWALL IDEA MAKE IT FASHIONABLE NOW I'M NOT A PROFESSIONAL TRENDSETTER BUT WEIRDER AND MORE EXPENSIVE STUFF THAN ONLINE HAVE BEEN SUCCESSFULLY MARKETED VIA SPORTS AND ROCKANDROLL CONNECTIONS I MEAN WHEN POOR KIDS JUST HAVE TO HAVE 125 SHOES MS KIMBALL IT'S FUNNY HOW PEOPLE TEND TO THINK THAT THINGS WILL HAPPEN IN COMPUTERMEDIATED ENVIRONMENTS THAT WOULDN'T HAPPEN IN SITUATIONS WITHOUT THE COMPUTER I DON'T THINK THE COMPUTER NETWORK OR ITS INTERFACE CAN DO THE JOB OF ATTRACTING PEOPLE TO THE MEDIUM HOW ARE MASSES OF PEOPLE ATTRACTED TO DO OTHER THINGS GENERALLY THEY DON'T JUST ONE DAY ALL SHOW UP AT SAY THE GOLF COURSE AND DECIDE THAT PLAYING GOLF IS THE THING TO DO GOLF IS SHOWN ON TELEVISION FAMOUS PEOPLE TAKE UP THE GAME AND WE SEE THEM PLAY FRIENDS TAKE US OUT WITH THEM ARTICLES ARE WRITTEN ABOUT HOW BUSINESS IS DONE ON THE LINKS SOMEBODY GIVES US A SET OF CLUBS FOR CHRISTMAS PEOPLE WHO ARE INTO IT ARE ALWAYS TALKING ABOUT THEIR LATEST GAME OR THEIR LATEST NEW EQUIPMENT WE DECIDE TO TAKE SOME LESSONS WE GO ON A VACATION WHERE GOLF IS AVAILABLE AND GIVE IT A TRY ETC IT'S NOT THE GOLF COURSE SITTING THERE ATTRACTING US IT'S NOT THE INTERFACE TO THE GOLF COURSE HOW EASY IT IS TO SIGN UP FOR A TEE TIME OR WHATEVER IT'S SOME KIND OF PICTURE WE CREATE IN OUR MINDS OF OURSELVES HAVING FUN PLAYING GOLF OR BEING INVITED TO THE CLUB BY THE BOSS OR WHATEVER PICTURE WE WANT TO BE IN IT TAKES A HUGE AMOUNT OF LEARNING TO PLAY GOLF OF FIGURING OUT NEW EQUIPMENT OF HASSLING WITH ACCESS ISSUES ALL KINDS OF STUFF AND YET PEOPLE TAKE IT UP IN DROVES WHAT WE HAVEN'T YET FIGURED OUT HOW TO DO IN THIS MEDIUM IS HELP PEOPLE CREATE THAT PICTURE IN THEIR MIND OF WHAT THEY WILL BE DOING AND HOW THEY WILL BE FEELING ONLINE MR JACOBSON WHY EVANGELIZE AT ALL ARE WE PUSHING SOCIAL CONNECTIVITY THESE DAYS WHY DID SOMEONE EVANGELIZE THE TELEPHONE OR THE TV ARE WE IN SOME WAY TRYING TO AVOID THE FATES OF THOSE TECHNOLOGIES BY THE ACT OF EVANGELIZING CREATING OUR OWN FRAMEWORK FOR OUR NOVICES' INTRODUCTION TO THE TECHNOLOGY I FEAR THIS IS A VERY SIMPLISTIC APPROACH TO TECHNOLOGY DIRECTION EITHER THE TECHNOLOGY HAS WITHIN IT THE SEEDS OF DEMOCRACY CREATIVITY PERSONAL EXPRESSION ETC OR IT HASN'T PHIL AGRE IS AN ASSISTANT PROFESSOR OF COMMUNICATIONS AT THE UNIVERSITY OF CALIFORNIA SAN DIEGO BOB BACK IS A WINE BUYER FOR A CHICAGOAREA RETAIL STORE WALLY BOCK OF OAKLAND CALIF CONDUCTS SEMINARS ON HOW TO USE ONLINE RESOURCES ART BOTTERELL DESIGNS TELECOMMUNICATIONS SYSTEMS FOR CALIFORNIA'S DISASTERPREPAREDNESS AGENCY HOOVER CHAN IS A VISION SCIENTIST AT SMITHKETTLEWELL EYE RESEARCH INSTITUTE IN SAN FRANCISCO AND USED TO RUN A SMALL COMPUTER BULLETIN BOARD KATHLEEN CREIGHTON IS A COLUMNIST FOR THE TRADE PUBLICATION MICROTIMES LENA M DIETHELM PROVIDES FINANCIAL COMPUTER AND HUMANRESOURCE CONSULTING SERVICES TO SMALL BUSINESSES BART EISENBERG IS A PUBLICRELATIONS WRITER IN FOREST KNOLLS CALIF CLIFF FIGALLO A FORMER DIRECTOR OF THE WELL IS CURRENTLY ONLINE COMMUNICATIONS COORDINATOR FOR THE ELECTRONIC FRONTIER FOUNDATION A WASHINGTON DC CIVILRIGHTS GROUP FOR COMPUTER USERS SHARON FISHER IS A SENIOR WRITER FOR COMMUNICATIONS WEEK AND THE AUTHOR OF RIDING THE INTERNET HIGHWAY GEORGE A GLEASON IS A COMMUNICATIONSNETWORK DESIGNER BASED IN BERKELEY CALIF MIKE GODWIN IS LEGALSERVICES COUNSEL FOR THE ELECTRONIC FRONTIER FOUNDATION JOSH GORDON IS A PROGRAMMER FOR AUTODESK INC IN SAUSALITO CALIF BOB JACOBSON IS PRESIDENT OF WORLDESIGN A VIRTUALREALITY DESIGN AND PRODUCTDEVELOPMENT FIRM IN SEATTLE LISA KIMBALL IS A PARTNER AT METASYSTEMS DESIGN GROUP AN ARLINGTON VA COMPUTERAPPLICATIONS CONSULTING FIRM TOM MANDEL IS A SENIOR MANAGEMENT CONSULTANT SPECIALIZING IN CONSUMERS AND NEW MEDIA AT SRI INTERNATIONAL A MENLO PARK CALIF RESEARCH AND CONSULTING FIRM BROCK N MEEKS IS A REPORTER FOR COMMUNICATIONS DAILY A TRADE PUBLICATION BASED IN WASHINGTON DC DANIEL MURPHY IS A POLITICAL CONSULTANT AND WRITER IN SAN FRANCISCO HANK ROBERTS A PROOFREADER AND EDITOR FOR A SAN FRANCISCO LAW FIRM ALSO BUILDS AND SELLS MOBILES IN BERKELEY CALIF JIM RUTT IS VICE PRESIDENT OF TECHNOLOGY FOR CDA INVESTMENT TECHNOLOGIES A PROVIDER OF ONLINE SERVICES TO THE INVESTMENT COMMUNITY TOM VALOVIC IS THE EDITOR OF TELECOMMUNICATIONS MAGAZINE EDWARD VIELMETTI IS VICE PRESIDENT FOR RESEARCH AT MSEN INC AN ANN ARBOR MICH COMPANY THAT PROVIDES COMMERCIAL ACCESS TO THE INTERNET GAIL WILLIAMS IS CONFERENCING MANAGER FOR THE WELL 9311150033 931115 TECHNOLOGY A SPECIAL REPORT A NEW WORLD INCOMMUNICADO LANGUAGE BARRIERS AND HIGH PHONE CHARGES HAVE SLOWED THE SPREAD OF ONLINE SERVICES IN EUROPE BY RICHARD L HUDSON LONDON WHEN JEFFREY KWON MOVED TO ENGLAND WITH HIS FAMILY LAST WINTER IT WAS HIS PERSONAL COMPUTER THAT GOT HOMESICK FIRST AS A TYPICAL HIGHSCHOOL HACKER IN WIREDUP SAN DIEGO THE 16YEAROLD MR KWON USED TO SPEND AN HOUR OR TWO A DAY CRUISING THE LOCAL COMPUTER BULLETIN BOARDS AND PLAYING HOT NEW COMPUTER GAMES BUT THEN HIS FATHER'S JOB WAS TRANSFERRED TO NORTHEAST ENGLAND AND THE YOUNG MR KWON BOLDLY PACKED UP HIS ACER PERSONAL COMPUTER TO EXPLORE A NEW ELECTRONIC FRONTIER WHAT HE DISCOVERED WAS THAT ENGLAND IS THE ELECTRONIC STICKS IN ENGLAND HE SAYS HE FOUND FEWER BULLETIN BOARDS TO LOG ON TO AND THE COMPUTER GAMES THEY OFFERED WERE OLD EVEN WORSE WAS THE COST WITH TELEPHONE CHARGES HIGHER IN BRITAIN THAN IN SAN DIEGO IN NO TIME HIS MODEM HAD INCURRED A PHONE BILL OF 20 ABOUT 30 AND A PARENTAL ORDER TO LOG OFF THIS IS REALLY CRAZY HE SAYS COMPUTERWISE IN ENGLAND IT'S A LITTLE UNDERDEVELOPED THOUGH ONE OF THE YOUNGEST MR KWON WASN'T THE FIRST TO DISCOVER A SAD FACT OF COMPUTER LIFE HERE EUROPE IS A BACKWATER WHEN IT COMES TO ELECTRONIC BULLETIN BOARDS DATABASES NETWORKS AND OTHER ONLINE COMPUTER SERVICES EUROPE IS A GOOD THREE TO FIVE YEARS BEHIND THE US IN ONLINE SERVICES SAYS FRED PERKINS MANAGING DIRECTOR OF FINANCIAL TIMES INFORMATION SERVICES AN AFFILIATE OF PEARSON PLC'S FINANCIAL TIMES NEWSPAPER AND ONE OF EUROPE'S BIGGEST DATABASE PROVIDERS THE REASONS ARE DIVERSE HIGH TELEPHONE CHARGES THAT DISCOURAGE ONLINE USAGE AND LANGUAGE DIFFERENCES THAT FRAGMENT THE EUROPEAN MARKET TO NAME TWO BUT ONE WAY OR ANOTHER MR PERKINS SAYS THEY'VE ALL WORKED AGAINST GROWTH IN EUROPE THE NUMBERS BEAR HIM OUT EVER SINCE THE EUROPEAN COMMUNITY'S STATISTICIANS BEGAN TRACKING IT IN THE LATE 1980S THEY HAVE FOUND THE EUROPEAN ONLINE INDUSTRY TO BE ROUGHLY HALF THE SIZE OF THAT IN THE US AT THE END OF 1991 THE EC COMMISSION ESTIMATES EC COMPANIES WERE PROVIDING 1616 ONLINE DATABASES COMPARED WITH THE 3057 RUN BY US COMPANIES ADDING IN OTHER TYPES OF ELECTRONICINFORMATION SERVICES THE EUROPEAN INDUSTRY'S 39 BILLION IN REVENUE WAS DWARFED BY THE US INDUSTRY'S 97 BILLION WHAT'S MORE IN CONTRAST TO THE RICH VARIETY OF NEWSPAPER TRAVEL AND OTHER DATABASES IN THE US IN EUROPE 96 OF THE BUSINESS IS NARROW NONONSENSE FINANCIAL AND BUSINESS INFORMATION THERE'S ONE BIG EXCEPTION TO THIS GLOOM FRANCE WHOSE MINITEL SERVICE HAS ATTRACTED A LARGE FOLLOWING A DECADE AGO THE FRENCH STATE TELEPHONE COMPANY BEGAN MINITEL AS AN ELECTRONIC SUBSTITUTE FOR PRINTED PHONE BOOKS AND IT GAVE AWAY THE SQUAT LITTLE DESKTOP TERMINALS TO MILLIONS OF FRENCH HOMES AND BUSINESSES CHARGING ONLY BY THE LOCAL CALL INTO THE SYSTEM NOW THERE ARE 64 MILLION MINITEL TERMINALS AROUND FRANCE MAKING ABOUT 85 MILLION CALLS A MONTH TO CHECK PHONE NUMBERS MAKE THEATER AND AIRLINE RESERVATIONS READ NEWS REPORTS OR PERUSE THE SEX ADS BUT THE SERVICE BASED ON A TELEVISIONRELATED TECHNOLOGY CALLED VIDEOTEX IN CONTRAST TO THE COMPUTERBASED SERVICES FAMILIAR ELSEWHERE HAS NEVER TAKEN ROOT OUTSIDE FRANCE BECAUSE OF THE COST OF THE TERMINALS FOR ALL THE REST OF EUROPE THEN A STRUGGLE IS UNDER WAY TO INVIGORATE AN ELECTRONICINFORMATION MARKET BUT PROGRESS IS LIKELY TO BE SLOW INDUSTRY EXECUTIVES WARN SINCE 1989 THE EC COMMISSION HAS COMMITTED 118 MILLION THROUGH ITS IMPACT PROGRAM TO PROMOTE ELECTRONIC INFORMATION SERVICES BUT WITH RELATIVELY LITTLE TO SHOW FOR IT UNDAUNTED EC BUREAUCRATS ARE NOW DRAFTING NEW PROPOSALS AS PART OF A BROADER PLAN ADVOCATED BY EC PRESIDENT JACQUES DELORS TO BOOST EC HIGHTECH RESEARCH SPENDING AND KEEP PACE WITH THE CLINTON ADMINISTRATION'S PROMISED INFORMATION SUPERHIGHWAY LINKING HIGHSPEED COMPUTERS ACROSS THE US CERTAINLY POLITICIANS AND ACADEMICS ALIKE CALL EUROPE'S UNDERDEVELOPMENT AN URGENT PROBLEM THAT MAKES ITS BUSINESSES LESS COMPETITIVE ON THE WORLD MARKET WHETHER IN COMMERCE OR INDUSTRY IF YOU DON'T HAVE READY ACCESS TO INFORMATION THE QUALITY OF DECISION MAKING CAN'T BE AS GOOD SAYS STEVEN POLLITT DIRECTOR OF A DATABASERESEARCH UNIT AT ENGLAND'S UNIVERSITY OF HUDDERSFIELD BUT THE SITUATION ALSO TRANSLATES INTO HARD LABOR FOR THE HUNDREDS OF ONLINE SERVICES NOW STRUGGLING TO GROW IN EUROPE INCLUDING ONES RUN BY THE FINANCIAL TIMES MEAD CORP KNIGHTRIDDER INC DOW JONES & CO PUBLISHER OF THIS NEWSPAPER REUTERS PLC AND ANGLODUTCH PUBLISHER REED ELSEVIER PLC A CLASSIC CASE IS CARGOFAX AN ONLINE SERVICE THAT REED TRIED SELLING TO THE EUROPEAN TRUCKING INDUSTRY IN THE MID1980S IN THEORY THE SERVICE SOUNDED GREAT SAYS IAN THOMAS A REED ELSEVIER EXECUTIVE DIRECTOR IT RAN LIKE AN ELECTRONIC BULLETIN BOARD ON WHICH SHIPPERS POSTED ADS FOR THEIR CARGOES NEEDING TRUCKING AND ON WHICH THE TRUCKERS POSTED INFORMATION ABOUT THEIR ROUTES AND AVAILABILITY BUT IN PRACTICE MR THOMAS SAYS FEW SHIPPERS OR TRUCKERS WERE WILLING TO PAY FOR THE SERVICE AND ANYWAY THEY DIDN'T MUCH LIKE THE NEWFANGLED TECHNOLOGY THEY PREFERRED TO KEEP ON DOING BUSINESS BY TELEPHONE AS BEFORE WORKING FROM THEIR OWN LISTS OF CONTACTS RESULT A 750000 LOSS FOR REED BUT MORE RECENTLY REED ELSEVIER HAS RUN UP AGAINST ANOTHER OBSTACLE IN EUROPE THE LACK OF A MASS CONSUMER MARKET FOR ONLINE SERVICES THE COMPANY OWNS THE TWO BIGGEST PUBLISHERS OF WORLD AIRLINE SCHEDULES OFFICIAL AIRLINE GUIDES AND ABC WORLD AIRWAYS GUIDE BESIDES PUBLISHING THE SCHEDULES IN BOOKS REED ELSEVIER ALSO SELLS ONLINE ACCESS TO THE DATA AROUND THE WORLD BUT THOUGH ALL ARE OWNED BY THE SAME COMPANY THERE'S A GULF WIDER THAN THE ATLANTIC BETWEEN ITS EUROPEAN AND US OPERATIONS IN THE US MR THOMAS SAYS OFFICIAL AIRLINE GUIDES' ONLINE SERVICE HAS ABOUT TWO MILLION USERS MOSTLY CONSUMERS WHO USE THEIR HOME OR OFFICE PERSONAL COMPUTERS TO TAP INTO THE DATABASE TO READ SCHEDULES AND BOOK THEIR FLIGHTS BUT IN BRITAIN ABC'S EASYRES ELECTRONIC SERVICE HAS JUST 2000 CLIENTS MOSTLY TRAVEL AGENTS THAT ISN'T AN ACCIDENT THE BRITISH PRODUCT IS DELIBERATELY TARGETED AS A PROFESSIONAL NICHE SERVICE BUT THAT'S BECAUSE THERE AREN'T ENOUGH CONSUMERS IN BRITAIN TODAY WHO WOULD BE INTERESTED IN THE BROADER USSTYLE SERVICE SAYS MR THOMAS I CAN'T CONCEIVE OF US LAUNCHING THE CONSUMER SERVICE IN EUROPE FOR THE NEXT TWO TO THREE YEARS BY WHICH TIME THE MARKET MAY HAVE GROWN PERHAPS THE BIGGEST OBSTACLES TO A EUROPEAN CONSUMER MARKET ARE HIGH TELEPHONE CHARGES BECAUSE THE PHONE BUSINESS IS A STATE MONOPOLY IN MOST EUROPEAN COUNTRIES LONGDISTANCE PHONE RATES ARE GENERALLY HIGHER THAN IN THE US A FACT THAT STRIKES ANYONE IN SAY BARCELONA TRYING TO DIAL UP A DATABASE IN MADRID BUT EUROPEAN HACKERS HAVE AN EXTRA HANDICAP IN THE US ONLINE SERVICES OFTEN SAVE CLIENTS THE EXPENSE OF A LONGDISTANCE CALL BY PROVIDING LOCAL NUMBERS FOR THEM IN MANY CITIES IN EUROPE'S SMALLER INDUSTRY HOWEVER LOCAL DATABASEACCESS NUMBERS ARE A RARE LUXURY MEANING MORE CALLS THAN IN THE US GET SOCKED WITH LONGDISTANCE RATES IF YOU'RE USING A DATABASE IN EUROPE COMPLAINS THE FINANCIAL TIMES'S MR PERKINS CHANCES ARE YOU'RE PAYING THE TELEPHONE COMPANY MORE THAN THE INFORMATION PROVIDER THAT'S CERTAINLY TRUE FOR THE EC'S OWN PUBLIC DATABASE ECHO THE SERVICE WAS STARTED BY THE EC COMMISSION AS PART OF ITS IMPACT PROGRAM SPECIFICALLY TO DRAW PEOPLE ONLINE ANYBODY ANYWHERE IN THE WORLD CAN TAP INTO ECHO TO CHECK THE LATEST EUROPEAN PARLIAMENT PROCEEDINGS USE A COMPUTERIZED MULTILINGUAL DICTIONARY OR JUST GET A LIST OF OTHER DATABASES IN EUROPE BEST OF ALL THE SERVICE IS FREE PROVIDED YOU LIVE IN LUXEMBOURG WHERE ECHO IS BASED OTHERWISE DIALING INTO THE SYSTEM IS BILLED BY THE LOCAL PHONE COMPANY AS AN INTERNATIONAL CALL SUCH PARADOXES HAVE CONTRIBUTED TO THE LESS THAN GLOSSY IMAGE THAT THE EC'S EFFORTS TO HELP THE INDUSTRY HAVE EARNED IT'S A MIXED BLESSING SAYS MR PERKINS OF THE IMPACT PROGRAM THEIR HEART IS IN THE RIGHT PLACE BUT A LOT OF THEIR EFFORTS HAVE BEEN OF MORE ACADEMIC THAN COMMERCIAL INTEREST BUT AS PART OF A BROADER EC INITIATIVE TO BOOST EUROPEAN TECHNOLOGY INDUSTRIES THE IMPACT ADMINISTRATORS ARE CURRENTLY DRAFTING PROPOSALS TO SPEND MORE MONEY ON DATABASE RESEARCH AND DEVELOPMENT THE LATEST PLANS SAYS ONE SENIOR EC OFFICIAL INCLUDE FINANCING FEASIBILITY STUDIES NEXT YEAR TO BEGIN AN EC VERSION OF MASSACHUSETTS INSTITUTE OF TECHNOLOGY'S FAMOUS MEDIA LAB TO RESEARCH NEW IDEAS IN ONLINE SERVICES AND OTHER ELECTRONIC MEDIA UNLIKE THE SETUP AT THE CAMBRIDGE MASS LAB THE RESEARCH WOULDN'T BE DONE IN ONE BUILDING RATHER IT WOULD BE SCATTERED AROUND SEVERAL EUROPEAN CORPORATE AND ACADEMIC LABS PARTICIPATING IN THE PROGRAM SEVERAL OTHER EC INITIATIVES ARE ALSO IN THE WORKS BUT INDUSTRY EXECUTIVES AREN'T EXPECTING OVERNIGHT SUCCESS IN BRUSSELS OR IN THEIR OWN BUSINESSES UNTIL THE DAY A BIGGER EUROPEAN MARKET EMERGES REED ELSEVIER FOR ONE PLANS TO PROCEED CAUTIOUSLY WE'LL JUST GO ALONG SAYS MR THOMAS DIPPING OUR TOES IN THE WATER MR HUDSON IS A STAFF REPORTER IN THE WALL STREET JOURNAL'S LONDON BUREAU 9311150032 931115 BUSINESS BRIEF CABLEVISION SYSTEMS CORP THIRDQUARTER LOSS WIDENED ON 12 INCREASE IN REVENUE CABLEVISION SYSTEMS CORP SAID ITS THIRDQUARTER NET LOSS WIDENED FROM A YEAR EARLIER ALTHOUGH OPERATING CASH FLOW ROSE 8 THE WOODBURY NY CABLETV COMPANY SAID IT HAD A LOSS OF 554 MILLION OR 244 A SHARE COMPARED WITH A LOSS OF 459 MILLION OR 205 A SHARE A YEAR EARLIER REVENUE ROSE 12 TO 1696 MILLION FROM 1513 MILLION OPERATING CASH FLOW ROSE TO 687 MILLION FROM 637 MILLION THE COMPANY SAID RATE CHANGES AND OTHER ADJUSTMENTS EFFECTIVE SEPT 1 TO COMPLY WITH FEDERAL COMMUNICATIONS COMMISSION REGULATIONS REDUCED SEPTEMBER REVENUE BY 29 MILLION AND OPERATING CASH FLOW BY 26 MILLION 9311150031 931115 TECHNOLOGY A SPECIAL REPORT THE BASICS WORLDWIDE WEB BEGUN AS A GOVERNMENT EXPERIMENT WHAT IS NOW CALLED THE INTERNET HAS TAKEN ON A LIFE OF ITS OWN BY MARY LU CARNEVALE TALES FROM THE INTERNET WHEN HE IS AWAY FROM HIS MORRISTOWN NJ LABORATORY DAVID TUROCK A SCIENTIST FOR BELL COMMUNICATIONS RESEARCH CORP STAYS IN TOUCH BY ELECTRONIC MAIL DELIVERED THROUGH THE INTERNET TO HIS LAPTOP COMPUTER IN PHILADELPHIA PERSONAL COMPUTERS DELIVERED READINGIMPROVEMENT COURSES OVER THE INTERNET TO ABOUT 100 LOWINCOME HOMES IN A RECENT TEST NOBODY WOULD TAKE THE CLASSES WHEN THEY WERE OFFERED AT NIGHT AT NEARBY SCHOOLS BUT STUDENTS AND MANY OF THEIR PARENTS SIGNED UP EAGERLY WHEN OFFERED THE OPPORTUNITY TO TAKE LESSONS ON BORROWED COMPUTERS IN THE SAFETY OF THEIR OWN HOMES A GROWING NUMBER OF PARENTS AROUND THE COUNTRY USE DIALUP COMPUTER SERVICES TO ZAP EMAIL THROUGH THE INTERNET TO CHILDREN AWAY AT SCHOOL OR LIVING OVERSEAS IT SEEMS TO BE SPROUTING UP ON EVERY COMPUTER SCREEN IN THE LAND BUT JUST WHAT IS THIS THING CALLED THE INTERNET IT WAS A MODEST HIGHLY TECHNICAL BEAST WHEN THE US GOVERNMENT CREATED IT IN THE 1960S ITS PURPOSE WAS QUITE LIMITED A NETWORK THAT DEFENSE DEPARTMENT RESEARCHERS AT WIDELY SCATTERED UNIVERSITIES COULD USE TO SHARE INFORMATION WITH ONE ANOTHER BUT IT QUICKLY SPREAD WITH REMARKABLE SPEED ANYONE COULD EASILY JOIN THE NETWORK YOU JUST HAD TO BUILD AN ELECTRONIC LINK USUALLY VIA PHONE TO ONE OF ITS MAIN ARTERIES AND FOLLOW THE OFFICIAL INTERNET COMMUNICATIONS RULES A FLOCK OF UNIVERSITIES AND COMPANIES DID JUST THAT THE RESULT ANYONE WITH A COMPUTER HOOKED TO A TELEPHONE LINE CAN CALL UP ONE STRAND OF THE INTERNET AND SEND A MESSAGE WEAVING ITS WAY THROUGH THE INTERLOCKING NETWORKS TO ANY OTHER STRAND AROUND THE WORLD PEOPLE ALSO USE THE NETWORK TO TAP INTO AN UNTOLD ARRAY OF DATABASES UNIVERSITY CARD CATALOGS RESEARCH STUDIES AND ELECTRONIC BULLETIN BOARDS THE INTERNET'S ORIGINAL GOVERNMENT SPONSORS WEREN'T OVERSEEING THEIR CREATION'S REMARKABLE EXPLOSION ANY MORE THAN THE PLANNERS OF THE INTERSTATE HIGHWAY SYSTEM OVERSAW ALL THE ENSUING SMALLTOWN ONRAMPS AND BYWAYS AS A RESULT NO ONE KNEW JUST HOW MANY PEOPLE THE INTERNET WAS REACHING AND WHERE TODAY THE INTERNET'S PRECISE CONTOURS ARE STILL A MYSTERY BUT PEOPLE WHO KNOW ABOUT THE NETWORK THINK IT'S THE FASTESTGROWING TELECOMMUNICATIONS SYSTEM EVER BUILT AN ESTIMATED 15 MILLION PEOPLE IN 50 COUNTRIES USE IT AND THE TRAFFIC SEEMS TO BE RISING AS MUCH AS 15 A MONTH THE NETWORK'S CORE CONSTITUENTS ARE STILL IN UNIVERSITIES AND HIGHTECH COMPANIES BUT MANY OF THE NEWEST DENIZENS OF THE NET ARE EMPLOYEES AT BIG CORPORATIONS AND PEOPLE USING PERSONAL COMPUTERS AT HOME THE INTERNET TO MOST OF THEM IS A GLOBAL ELECTRONIC POST OFFICE THAT OPERATES 24 HOURS A DAY AND DOESN'T CHARGE POSTAGE NEW USERS ARE PILING ONTO THE INTERNET IN UNPRECEDENTED NUMBERS SCHOOLS LIBRARIES HOSPITALS BANKS MANUFACTURERS RETAIL CHAINS COMPANIES OF ALL KINDS AND SIZES ARE SIGNING UP WITH COMPUTER SERVICES TO CONNECT THEIR STUDENTS STAFFS CUSTOMERS SUPPLIERS AND BUSINESS PARTNERS THROUGHOUT THE WORLD BY SOME ESTIMATES ALREADY ABOUT 60 OF INTERNET TRAFFIC IS COMMERCIAL A SORE POINT WITH MANY SCIENTISTS AND OTHER EARLY USERS DESPITE THE EXPLOSIVE GROWTH THE INTERNET REMAINS AN EXTRAORDINARILY ANARCHIC CREATURE WITH NO CENTRAL AUTHORITY SUSTAINED BY ITS FEROCIOUS GRASSROOTS MOMENTUM UNCLE SAM STILL SUBSIDIZES THE NETWORK THROUGH VARIOUS DEFENSE AND CIVILIAN CONTRACTS ONE IMPORTANT CONTRACT COVERS THE NETWORK'S BACKBONE THE CENTRAL LINE THROUGH WHICH MUCH OF ITS TRAFFIC RUNS THE GOVERNMENT HAS PLANS TO UPGRADE THIS BACKBONE WITH BIGGER FIBEROPTIC PIPES AND SPEEDIER COMPUTERS ALSO WATCHING OVER THE INTERNET IS A COMBINATION FAN CLUB AND VOLUNTEER FIRE DEPARTMENT DUBBED THE INTERNET SOCIETY IT MEETS TWICE A YEAR TO TAKE UP PRIVACY ISSUES AND BROAD POLICY MATTERS AND ALSO APPOINTS BOARDS TASK FORCES AND SUBGROUPS OF VOLUNTEERS WHO MEET MORE FREQUENTLY TO DEAL WITH THE NITTYGRITTY OF SUCH THINGS AS ALLOCATING EMAIL ADDRESSES BOOSTING TRANSMISSION SPEEDS AND FIGURING OUT HOW TO TRANSMIT VOICE AND VIDEO ON THE NET ED KROL AN ASSISTANT DIRECTOR AT THE UNIVERSITY OF ILLINOIS'S COMPUTING AND COMMUNICATIONS SERVICE OFFICE AND THE AUTHOR OF INTERNET GUIDEBOOKS COMPARES THE STRUCTURE TO THAT OF A CHURCH'S COUNCIL OF ELDERS EVERYONE HAS AN OPINION ON HOW THINGS SHOULD BE AND THE THORNY ISSUES MUST BE RESOLVED IN SMALL GROUPS FOR THE PAST YEAR OR SO GROUPS HAVE BEEN DREAMING UP WAYS TO MAKE THE NET MORE USERFRIENDLY AND EXPAND ITS TRANSMISSION CAPACITY TO EASILY HANDLE MULTIMEDIA SERVICES IN THE FUTURE THE INTERNET WILL HAVE MORE MENUORIENTED TOOLS THAT WILL LET YOU DO SEARCHES READ AND RETRIEVE INFORMATION TO YOUR PC BY USING MOUSE CLICKS AND THINGS LIKE THAT SO YOU DON'T HAVE TO DEAL WITH 1960SSTYLE COMMAND LINES SAYS MR KROL HOPEFULLY FOR NOW THE INTERNET REMAINS AN INFORMATION HIGHWAY WITH PLENTY OF POTHOLES ACCIDENTS AND TRAFFIC JAMS ITS GNARLED OLD TECHNICAL RULES AND COMMANDS ALONE ARE ENOUGH TO DAUNT A NOVICE VISITOR AS I DISCOVERED ON A RECENT VENTURE INTO THE NET THE FIRST THING I SEE ON THE SCREEN IS THE INTERNET SIG MENU ITSELF A FORMIDABLE LIST OF CRYPTIC OPTIONS ONE CHOICE SEEMS TO RECOMMEND ITSELF USING THE INTERNET SELECT THAT AND THE TOP ITEM ON THE NEXT MENU PROMISES COMFORT AMONG THE SUGGESTIONS GET STARTED TRY GOPHER FROM THE TELNET MENU AND EXPLORE WHATEVER INTERESTS YOU FROM THE MENUS TRY WWW TOO IMPORTANT NOTE IF YOU TRY GOPHER OR ARCHIE OR WAIS AND THE SCREEN DISPLAY DOES NOT LOOK RIGHT OR RESPOND PROPERLY YOU PROBABLY HAVE SOME FINETUNING TO DO WHAT THIS MEANS IN ORDINARY ENGLISH I'M BEING OFFERED A CHANCE TO USE ONE OF THE INTERNET'S MOST USEFUL BUT MOST FORBIDDING SERVICES CREATED AT THE UNIVERSITY OF MINNESOTA AND NAMED FOR ITS BURROWING MASCOT GOPHER IS A CARDCATALOG PROGRAM USED BY MANY LIBRARIES ON THE INTERNET IF YOU KNOW YOUR INTERNET GOBBLEDYGOOK YOU CAN USE GOPHER TO LOOK UP LISTINGS IN CATALOGS AROUND THE WORLD IN MY EXPERIMENT I BROWSE THROUGH A SERIES OF ONSCREEN CHOICES ARRANGED BY SUBJECT MATTER I SELECT PISA TYPE IN TOWER AND SIT BACK EXPECTING TO FIND OUT ABOUT ITS HISTORY AND ARCHITECTURE INSTEAD THE SCREEN FILLS WITH INFORMATION ABOUT AN ORIENTAL WITCH IN A TOWER IT TURNED OUT I WAS SCROLLING THROUGH THE CARD CATALOG OF THE UNIVERSITY OF PISA'S LIBRARY ESCAPING FROM THE TOWER I AM OFFERED A NEW LIST OF CHOICES HEALTHLINE LOOKS INTERESTING IT PRODUCES A LONG LIST OF MALADIES AIDS IS MY CHOICE AND A FEW KEYSTROKES LATER I HAVE ONSCREEN WHAT IS APPARENTLY THE LATEST SCIENTIFIC ARTICLE ABOUT TREATING THE VIRUS WITH VARIOUS COMBINATIONS OF DRUGS INTERNET EXPLORERS CAN ALSO SUBSCRIBE TO MAILING LISTS ON THE NET THAT PERIODICALLY DELIVER ELECTRONIC NEWSLETTERS TO THEIR COMPUTER SCREENS OR THEY CAN PARTICIPATE IN ENDLESS ONSCREEN DISCUSSIONS ABOUT ALMOST ANY TOPIC IMAGINABLE INCLUDING SCUBA DIVING EARLY CHILDHOOD DEVELOPMENT THE BREEDING OF GOLDEN RETRIEVERS AND BEE BIOLOGY THOUSANDS OF USERS PLUG IN TO THE INTERNET TO CONNECT WITH SUPPORT GROUPS OF ALL KINDS INCLUDING THOSE FOR AN ASSORTMENT OF MEDICAL AFFLICTIONS ALL THIS ACTIVITY HAS CERTAINLY NOT ELUDED CORPORATE AMERICA CONTINENTAL CABLEVISION INC ONE OF THE NATION'S BIGGEST CABLETELEVISION OPERATORS PLANS TO OFFER CUSTOMERS A HIGHSPEED LINK TO THE INTERNET OVER ITS CABLE NETWORK THE COMPANY SHOOK UP THE INDUSTRY THIS SUMMER WITH AN ANNOUNCEMENT THAT IT WAS TEAMING WITH PERFORMANCE SYSTEMS INTERNATIONAL INC OF HERNDON VA A LEADING PROVIDER OF INTERNET CONNECTIONS FOR BUSINESSES PSI WILL SUPPLY A SPECIAL MODEM AND SOFTWARE THAT ZIPS DATA TO CABLE CUSTOMERS AT SPEEDS FAST ENOUGH TO DELIVER FULLMOTION VIDEO ALONG WITH AUDIO AND TEXT THE ESTIMATED 70 TO 100 MONTHLY CONNECTION FEE HOWEVER IS CERTAIN TO DISCOURAGE MANY WOULDBE USERS SPRINT CORP AND MICROELECTRONICS & COMPUTER TECHNOLOGY CORP AN 80MEMBER RESEARCH CONSORTIUM BASED IN AUSTIN TEXAS RECENTLY ANNOUNCED PLANS TO OFFER CORPORATE CUSTOMERS A NEW PACKAGE OF NAVIGATION TOOLS AND ONLINE SERVICES INTENDED TO SPEED AND SIMPLIFY THEIR EMPLOYEES' INFORMATION SEARCHES AND IMPROVE EMAIL COMMUNICATIONS WITH PLANTS CUSTOMERS AND SUPPLIERS MR TUROCK THE BELLCORE RESEARCHER AND OTHER SCIENTISTS DO MORE THAN COMMUNICATE INSTANTLY WITH COLLEAGUES AROUND THE GLOBE THROUGH THE INTERNET THEY ALSO USE IT AS THE CORE TECHNOLOGY FOR NEW PRODUCTS FOR THE REGIONAL BELL COMPANIES THIS PAST SUMMER BELLCORE ROLLED OUT MORENET A NETWORK IN MORRIS COUNTY NJ THAT USES TELEPHONE CONNECTIONS TO LINK 32 PUBLIC AND ACADEMIC LIBRARIES INCLUDING SOME IN ELEMENTARY AND SECONDARY SCHOOLS HOOKING EACH ONE INTO THE INTERNET INTERNET CONNECTIONS ARE ALREADY COMMONPLACE AT MOST COLLEGE CAMPUSES THE UNIVERSITY OF ILLINOIS'S MR KROL SAYS THE URBANA CAMPUS'S 200LINE DIALUP POOL TO THE CAMPUS NETWORK OFTEN REMAINS BUSY UNTIL 2 AM THE HEAVY USAGE HAS FORCED THE UNIVERSITY TO BEGIN INSTALLING DIRECT INTERNET CONNECTIONS FROM DORMS THE UNIVERSITY'S COMPUTER USERS LIKE SO MANY OTHERS ARE SLOWLY DISCOVERING THE INTERNET'S SEDUCTIVE POWERS THIS TERRITORY WE ARE ENTERING CAN BECOME A FANTASTIC TIMESINK WRITES BRENDAN P KEHOE IN HIS BOOK ZEN AND THE ART OF THE INTERNET HOURS CAN SLIP BY PEOPLE CAN COME AND GO AND YOU'LL BE LOCKED IN CYBERSPACE MS CARNEVALE IS A STAFF REPORTER IN THE WALL STREET JOURNAL'S NEW YORK BUREAU 9311150030 931115 ECONOMY RESOLUTION TRUST CORP NEARS STANDSTILL AS PERSONNEL FUNDING PROBLEMS MOUNT BY ALBERT R KARR STAFF REPORTER OF THE WALL STREET JOURNAL WASHINGTON THE GOVERNMENT'S SAVINGSANDLOAN CLEANUP OPERATION IS APPROACHING GRIDLOCK AS THE RESOLUTION TRUST CORP ENTERS THE FINAL STAGE OF THE MASSIVE DISPOSAL JOB IT BEGAN IN 1989 IT'S PLAGUED BY UNFILLED POSITIONS INCLUDING A FULLTIME CHIEF EXECUTIVE DISPUTES OVER ASSET SALES AND A PROTRACTED HOLDUP IN FUNDS THE PLACE IS STOPPED DEAD IN ITS TRACKS SAYS ONE DISGRUNTLED RTC OFFICIAL THE NEARSTANDSTILL FOLLOWS A FLURRY OF ASSET SALES FROM THE S&L GRAVEYARD THE AGENCY HASN'T HAD A PERMANENT CHIEF EXECUTIVE SINCE MARCH STANLEY TATE THE CLINTON ADMINISTRATION'S NOMINEE IS IN A STANDOFF WITH SENATE BANKING COMMITTEE CHAIRMAN DONALD RIEGLE WHO IS CRUCIAL TO HIS CONFIRMATION DURING A RECENT BANKING PANEL HEARING AT WHICH 13 RTC WHISTLEBLOWERS ALLEGED VARIOUS SORTS OF MISMANAGEMENT SEN RIEGLE SAID I DON'T INTEND TO CONFIRM ANYBODY I DON'T CARE WHO IT IS UNTIL WE HAVE A PLAN HERE THAT'S GOING TO PUT A STOP TO THIS KIND OF THING MR TATE A REPUBLICAN FLORIDA REALESTATE DEVELOPER WHO WAS CHAIRMAN OF AN ADVISORY COMMITTEE TO THE RTC SAID THE WAY TO DEAL WITH SUCH PROBLEMS IS TO CONFIRM HIM SO HE CAN GET ON WITH THE JOB MEANWHILE THE STILL UNCONFIRMED MR TATE IN HIS CHARACTERISTIC HARDCHARGING STYLE HAS INQUIRED INTO RTC MATTERS INCLUDING AN ENFORCEMENT CASE AGAINST A FAILED FLORIDA THRIFT ONCE RUN BY AN ACQUAINTANCE THESE MOVES HAVE SPARKED CHARGES THAT HE IS IMPROPERLY MEDDLING IN RTC AFFAIRS WHILE ONLY A NOMINEE IN SEPTEMBER MR TATE SURPRISED RTC LAWYERS WHEN HE SHOWED UP AT A USUALLY PRIVATE MEETING OF A JOINT RTCFEDERAL DEPOSIT INSURANCE CORP COMMITTEE THAT RULES ON CHARGES OF IMPROPER CONDUCT BY LAW FIRMS THAT THE AGENCIES HIRE THE COMMITTEE WAS REVIEWING AN EARLIER DECISION TO BAR FURTHER RTC WORK FOR THE BLACKOWNED NEW ORLEANS LAW FIRM BRYAN JUPITER LEWIS & BLANSON FOR NOT DISCLOSING THAT TWO THEN PARTNERS INCLUDING REP WILLIAM JEFFERSON D LA HAD OUTSTANDING DEBTS TO FAILED S&LS A WRITTEN SUMMARY OF THE MEETING SHOWS THAT MR TATE ARRIVED WITH JOHNNIE BOOKER THE RTC'S VICE PRESIDENT FOR MINORITY AND FEMALEOWNED BUSINESSES WHO ARGUED FOR RECONSIDERATION OF THE DECISION AND THAT HE PARTICIPATED IN THE DISCUSSIONS MS BOOKER PLAYS DOWN MR TATE'S ROLE AT THE MEETING AND MR TATE REFERS MEDIA CALLS TO THE TREASURY DEPARTMENT WHERE A SPOKEWOMAN SAYS MR TATE WENT TO THE MEETING ONLY TO STUDY THE COMMITTEE'S PROCEDURES BUT TO A NUMBER OF RTC ATTORNEYS MR TATE'S APPEARANCE LOOKED LIKE AN ATTEMPT TO INFLUENCE THE COMMITTEE'S RULING DESPITE THE CRITICISMS TREASURY SECRETARY LLOYD BENTSEN AND DEPUTY TREASURY SECRETARY ROGER ALTMAN WHO SERVES AS INTERIM RTC CHIEF HAVE VOICED FULL SUPPORT FOR THE NOMINEE MEANWHILE THE TREASURY HAS ESTABLISHED NEW MORE CONTROLLED CONTRACTING AND S&L ASSETSALE POLICIES WHICH HAVE GENERATED INTERNAL DISPUTES ABOUT SLOWDOWNS IN SELLING OFF ASSETS SOME RTC OFFICIALS IN PARTICULAR GRIPE ABOUT PREFERENCES FOR MINORITY FIRMS THE TREASURY PROCEDURES HAVE SLOWED THE RTC'S DISPOSAL OF THE REMAINING 70 BILLION IN FAILEDTHRIFT ASSETS SAY AGENCY OFFICIALS ALTHOUGH THE RTC HAS SOLD NEARLY 350 BILLION IN ASSETS SINCE 1989 IT HAS SOLD ONLY 20 BILLION SINCE THE END OF MARCH THE SALES EFFORT IS PARALYZED CONTENDS ONE OFFICIAL FINALLY CONGRESSIONAL SNARLUPS OVER RTC FUNDING HAVE LEFT THE AGENCY WITHOUT NEW MONEY FOR OVER A YEAR AND A HALF THE SHORTAGE HAS FORCED THE RTC TO HANG ONTO SOME 60 FAILED THRIFTS THAT IT WOULD OTHERWISE SELL OFF AT AN ESTIMATED COST OF AS MUCH AS 3 MILLION A DAY WE NEED THE MONEY RIGHT NOW SAYS WILLIAM ROELLE AN RTC SENIOR VICE PRESIDENT BUT AMID THE UNCERTAINTY AND INERTIA PEOPLE ARE BAILING OUT AN RTC ATTORNEY SAYS LATE LAST MONTH THE RTC ANNOUNCED THAT MR ROELLE AND LAMAR KELLY THE AGENCY'S TWO SENIOR VICE PRESIDENTS SOON WILL RETURN TO JOBS AT THE FDIC EARLIER TWO TOP ASSETSALES MANAGERS DEPARTED AND THE RTC'S ACTING GENERAL COUNSEL ALSO JUMPED TO THE FDIC THE SAME WEEK THAT THE RTC ANNOUNCED THE LATEST HIGHLEVEL DEPARTURES MR ALTMAN SPOKE TO THE RTC TOP STAFF COMPLIMENTING THEM FOR MAKING PROGRESS IN TOUGH CIRCUMSTANCES AND ENCOURAGING THEM TO BRING ANY PROBLEMS TO HIM MR ALTMAN AUGMENTED THE VISIT WITH A TELECONFERENCE FOR FIELD STAFFS AND A VIDEO FOR ANYONE ELSE WHO MISSED THE MESSAGE 9311150029 931115 SEAGRAM INCREASES STAKE IN TIME WARNER TO 81 NEW YORK SEAGRAM CO BOOSTED ITS STAKE IN TIME WARNER INC TO 81 FROM 68 SPENDING 2107 MILLION IN THE OPEN MARKET TO BUY 48 MILLION SHARES OF THE ENTERTAINMENT CABLETELEVISION AND PUBLISHING GIANT IN MAY MONTREALBASED SPIRITS MAKER SEAGRAM ANNOUNCED THAT IT ACQUIRED 57 OF TIME WARNER FOR 700 MILLION WITH PLANS TO INCREASE ITS STAKE TO 15 LAST MONTH SEAGRAM INCREASED ITS STAKE TO 68 SEAGRAM NOW HOLDS 305 MILLION TIME WARNER SHARES PAYING 44 TO 45 A SHARE FOR ITS LATEST PURCHASES NEW YORKBASED TIME WARNER CLOSED FRIDAY AT 44375 A SHARE UP 375 CENTS IN NEW YORK STOCK EXCHANGE COMPOSITE TRADING SEAGRAM WHICH PAID AN AVERAGE PRICE OF 3324 FOR ITS FIRST 211 MILLION SHARES SAYS ITS INVESTMENT IS FRIENDLY AND PASSIVE THE COMPANY DECLINED TO COMMENT ON ITS LATEST PURCHASE ACCORDING TO A SPOKESMAN TIME WARNER SEES THE INVESTMENT AS A STATEMENT OF CONFIDENCE IN OUR COMPANY MANAGEMENT AND STRATEGIC POSITION 9311150028 931115 TECHNOLOGY A SPECIAL REPORT A NEW WORLD RESTRICTED ACCESS JAPAN LACKS A HOMEGROWN VERSION OF THE INTERNET BY DAVID P HAMILTON TOKYO CONSIDER A TALE OF TWO COUNTRIES COUNTRY A HAS A FLOURISHING COMPUTER NETWORK THAT LINKS MILLIONS OF RESEARCHERS AND OTHER PEOPLE THANKS LARGELY TO GOVERNMENT PROGRAMS THAT SHOWERED MONEY ON NETWORKING TECHNOLOGY AND ENCOURAGED ITS SPREAD THROUGHOUT ACADEMIA AND INDUSTRY PROPONENTS OF THE NETWORK SPEAK OF EXPANDING ITS REACH NOT ONLY TO ORDINARY CITIZENS WITHIN THE BORDERS OF COUNTRY A BUT ALSO TO EVERY PART OF THE WORLD IN COUNTRY B SHORTSIGHTEDNESS AND INFIGHTING AMONG GOVERNMENT BUREAUCRATS HAVE CONFINED NETWORKING TO ISOLATED GROUPS OF MACHINES LEAVING USERS LARGELY CUT OFF FROM THEIR FELLOW CITIZENS AND THE OUTSIDE WORLD EXPERTS BEMOAN THEIR LACK OF PROGRESS AND COMPLAIN OF BEING YEARS BEHIND COUNTRY A WHICH COUNTRY IS THE US AND WHICH IS JAPAN THINK AGAIN COUNTRY A IS AMERICA WHERE THE INTERNET A LOOSE COLLECTION OF ROUGHLY 34000 NETWORKS NURTURED BY THE FEDERAL GOVERNMENT IS GROWING AT A PACE THAT MAY SOON MAKE IT A HOUSEHOLD NAME COUNTRY B IS JAPAN WHOSE INDUSTRIALPOLICY MANDARINS FAILED TO SEE THE IMPORTANCE OF COMPUTER NETWORKING THUS SURRENDERING IT TO THE UNTENDER MERCIES OF BUREAUCRATIC WARFARE UNTIL NOW THE PRIORITY FOR THAT KIND OF RESEARCH INFRASTRUCTURE HAS NOT BEEN FOCUSED SAYS TATEO ARIMOTO AN OFFICIAL AT JAPAN'S SCIENCE AND TECHNOLOGY AGENCY ADDS HIROSHI INOSE DIRECTORGENERAL OF THE NATIONAL CENTER FOR SCIENCE INFORMATION SYSTEMS WHO ESTIMATES THAT JAPAN'S NETWORKS LAG BEHIND THOSE OF THE US BY ABOUT 10 YEARS THE INFRASTRUCTURE IN THIS COUNTRY IS NOT CONSIDERED TO BE IMPORTANT THAT'S WHY OUR SEWAGE SYSTEM IS BAD PEOPLE DON'T THINK ABOUT THE IMPORTANCE OF SOMETHING THAT'S INVISIBLE HOW DID THIS HAPPEN JAPAN'S BUREAUCRATS AFTER ALL ARE FAMOUS FOR THEIR FORESIGHT AND ADMINISTRATIVE ABILITY AND ARE OFTEN CREDITED WITH TURNING SEVERAL OF THE NATION'S KEY INDUSTRIES SUCH AS ELECTRONICS INTO WORLDCLASS COMPETITORS BUT THE BUREAUCRACY IN JAPAN LIKE ANYWHERE ELSE IS FAR FROM MONOLITHIC AND ITS VARIOUS ARMS DON'T LIKE EACH OTHER VERY MUCH OF COURSE WHERE COMPUTER NETWORKING IS CONCERNED JAPAN HAS OTHER IMPORTANT DISADVANTAGES TOO IT WASN'T UNTIL 1980 THAT ANYONE DEVELOPED COMPUTERS CAPABLE OF HANDLING THE 10000PLUS CHARACTERS IN THE JAPANESE LANGUAGE EVEN THEN MOST JAPANESE RAISED WITHOUT EXPOSURE TO WESTERNSTYLE TYPEWRITERS SUFFERED FROM KEYBOARD ALLERGY AND WERE SLOW TO WARM TO COMPUTERS GEOGRAPHY HAS ALSO PLAYED A ROLE WITH A POPULATION LARGELY CONCENTRATED IN A FEW URBAN CENTERS THAT ALL LIE WITHIN A SINGLE TIME ZONE JAPAN HASN'T HAD MUCH INCENTIVE TO DEVELOP ELECTRONIC MAIL AND OTHER FORMS OF DELAYED NETWORK COMMUNICATION THAT ALLOW PEOPLE TO COMMUNICATE EVEN WHEN THEIR BUSINESS HOURS DON'T OVERLAP SIMILARLY JAPANESE RESEARCHERS ISOLATED FROM WESTERN SCIENTISTS BY DISTANCE LANGUAGE AND A PERCEIVED STATURE GAP HAVEN'T HAD A STRONG INCLINATION TO NETWORK WITH THEIR OVERSEAS COUNTERPARTS STILL THE OBSTRUCTIONIST ROLE PLAYED BY JAPANESE BUREAUCRATS CAN'T BE UNDERESTIMATED GOVERNMENT MINISTRIES HAVE A LONG TRADITION OF FIGHTING EACH OTHER SAYS DR INOSE THUS THE AGRICULTURE MINISTRY WHICH RUNS 39 RESEARCH INSTITUTES ACROSS JAPAN BUILT ITS OWN COMPUTER NETWORK STARTING IN 1979 BUT WOULDN'T CONSIDER LINKING IT TO RESEARCH INSTITUTES RUN BY OTHER MINISTRIES SO THE MINISTRY OF EDUCATION WHICH HOLDS SWAY OVER THE NATION'S UNIVERSITIES AND A HANDFUL OF ITS OWN RESEARCH INSTITUTES FOLLOWED SUIT IN 1985 THEN CAME THE MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY IN 1989 SOON JAPAN WAS A CRAZYQUILT OF SMALL COMPUTER FIEFS FEW OF WHICH TALKED TO ONE ANOTHER OR HAD MUCH CONTACT WITH OVERSEAS NETWORKS SOME DO HAVE INTERNET CONNECTIONS BUT THEY TEND TO BE UNRELIABLE LOWCAPACITY LINES TAKE TSUKUBA SCIENCE CITY A COLLECTION OF SEVERAL HUNDRED RESEARCH INSTITUTES RUN BY VARIOUS GOVERNMENT MINISTRIES AND PRIVATE ORGANIZATIONS WHERE NETWORKING HAS RUN STRAIGHT INTO A BUREAUCRATIC WALL BACK IN 1988 AN ARM OF THE SCIENCE AND TECHNOLOGY AGENCY UNVEILED PLANS FOR A PERSONALCOMPUTERBASED NETWORK THAT WOULD LINK ABOUT 30 OF THE CITY'S ESTIMATED 10000 RESEARCH SCIENTISTS THERE WAS JUST ONE PROBLEM THE RESEARCH INSTITUTES RUN BY EACH MINISTRY WERE ALREADY LINKED TO THEIR OWN NETWORKS AND SAW NO NEED TO JOIN THE STA'S PROJECT NOW ONLY ABOUT 600 RESEARCHERS MANY FROM THE UNIVERSITY OF TSUKUBA HAVE SIGNED ON TO THE NETWORK DESPITE CONSTANT EXHORTATIONS FROM LOCAL STA OFFICIALS PAROCHIALISM IN GOVERNMENTFUNDED NETWORKS ISN'T THE ONLY BARRIER TO NETWORKING IN JAPAN GOVERNMENT REGULATION ALSO INHIBITS THE SPREAD OF COMMERCIAL NETWORKS NIFTY CORP A UNIT OF FUJITSU LTD RUNS A LOCAL NETWORK THAT PROVIDES ACCESS TO SUCH INTERNATIONAL SERVICES AS COMPUSERVE USERS WHO LOG ON TO NIFTY'S NETWORK TO SEND ELECTRONIC MAIL THROUGH THEIR COMPUSERVE ACCOUNTS HOWEVER INSTEAD FIND A MESSAGE ON THEIR SCREENS STATING THAT JAPANESE TELECOMMUNICATIONS REGULATIONS PROHIBIT SENDING EMAIL OR OTHER MESSAGES OVER THAT NETWORK USERS CAN SEND EMAIL THROUGH A SECOND MORE EXPENSIVE NETWORK RUN BY FUJITSU THAT MEETS ADDITIONAL GOVERNMENT REQUIREMENTS WE'RE JUST OBEYING THE LAW SAYS NIFTY MANAGING DIRECTOR AKIRA NAKAMURA BUT IF YOU WERE TO ASK ME IF IT'S BETTER TO ABOLISH THE LAW I'D HAVE TO SAY YES JAPANESE OFFICIALS SAY THEY'RE STARTING TO TURN THE SITUATION AROUND THEIR MAIN EFFORT NOW IS A NEW PROJECT WITH AN UNWIELDY NAME THE INTERMINISTERIAL RESEARCH INFORMATION NETWORK CONSCIOUSLY MODELED ON THE ORIGINAL US INFORMATION SUPERHIGHWAY PROJECT THE 95 MILLION JAPANESE EFFORT CALLS FOR COOPERATION AMONG THE NATION'S FOUR MAIN RESEARCHORIENTED MINISTRIES IN ORDER TO FORGE A HIGHSPEED DATA NETWORK LINKING SUPERCOMPUTERS IN VARIOUS GOVERNMENT LABORATORIES WITH USERS AT OTHER GOVERNMENT LABS MR ARIMOTO OF THE SCIENCE AND TECHNOLOGY AGENCY WHO LAST JUNE LED 10 REPRESENTATIVES FROM THE VARIOUS MINISTRIES ON A SURVEY OF US NETWORK SYSTEMS SAYS THE NETWORK SHOULD BEGIN OPERATION BY OCTOBER 1994 AT 40 OR 50 INSTITUTES ACROSS JAPAN HIS HOPES ARE EVENTUALLY TO EXPAND THE NETWORK TO ALL GOVERNMENT LABORATORIES AND EVEN TO CONNECT IT WITH THE US HIGHSPEED NETWORK YET EVEN THIS EXAMPLE OF COOPERATION ISN'T OFF TO AN AUSPICIOUS START FOR ONE THING THE EFFORT ENCOMPASSES ONLY GOVERNMENT LABS UNIVERSITIES ARE CURRENTLY BEING HOOKED TOGETHER UNDER A SEPARATE PROGRAM RUN SOLELY BYGUESS WHO THE MINISTRY OF EDUCATION THAT NETWORK IS SUPPOSED TO BE CONNECTED TO THE GOVERNMENT RESEARCH NETWORK ALTHOUGH IT ISN'T CLEAR WHEN THAT WILL HAPPEN WHAT'S MORE LABS RUN BY PRIVATE INDUSTRY WHICH ACCOUNTS FOR ROUGHLY 70 OF THE NATION'S RESEARCHANDDEVELOPMENT SPENDING WON'T BE CONNECTED AT ALL WHERE PRIVATE INDUSTRY IS CONCERNED WE NEED TO SOLVE SOME LEGAL PROBLEMS SAYS MR ARIMOTO THIS QUESTION IS ONE ITEM TO BE SOLVED OVER THE NEXT FEW YEARS MR HAMILTON IS A STAFF REPORTER IN THE WALL STREET JOURNAL'S TOKYO BUREAU 9311150027 931115 TECHNOLOGY A SPECIAL REPORT BREAKOUT CONTACT HIGH COMPUTER NETWORKS HAVE TRANSFORMED CAMPUS LIFE AND THE CHANGES HINT AT WHAT MAY LIE AHEAD FOR US ALL BY MICHAEL W MILLER ANN ARBOR MICH LATE ON A RECENT WEEKEND NIGHT STUDENTS LINE UP TO GET INTO ONE OF THE UNIVERSITY OF MICHIGAN'S HOTTEST NEW NIGHT SPOTS THE COURTYARD AT ANGELL HALL THE CROWD EXUDES CAMPUS CHIC AT THE FRONT OF THE LINE IS SOPHOMORE JOSH RADCLIFF SPORTING A NOSE RING LEATHER JACKET AND BACKWARD BLACK BASEBALL CAP HIS FRIEND TORI BRESCOLL IS DECKED OUT IN TRENDY NEO'70S VELVET HAT BELLBOTTOMS AND PLATFORM SANDALS THEY ARE WAITING OUTSIDE A PLACE THAT LOOKS LIKE A GIANT FUNKY CAFE IT HAS EXPOSEDBRICK WALLS ARCHED WINDOWS AND LEAFY PLANTS ALSO 320 GLEAMING PERSONAL COMPUTERS WIRED UP TO NETWORKS ALL OVER CAMPUS AND THE WORLD STUDENTS FLOCK HERE TO WRITE LOVE NOTES SEND LETTERS TO THEIR PARENTS TURN IN HOMEWORK TO PROFESSORS POST CLASSIFIED ADS CATCH UP ON CAMPUS NEWS TALK ABOUT ROUSSEAU AND LOCKE ON A SPECIAL BULLETIN BOARD FOR MEMBERS OF A POLITICALSCIENCE CLASS MORE THAN 25 OF ALL CLASSES HAVE THEIR OWN DISCUSSION BOARDS AND LOOK ONE ANOTHER UP IN AN ELECTRONIC PHONE DIRECTORY COMPLETE IN SOME CASES WITH SUCH PERSONAL DETAILS AS MALE BLOND NICE GUY COMPUTER NETWORKS HAVE UTTERLY TRANSFORMED LIFE AT THE UNIVERSITY OF MICHIGAN AS WELL AS AT OTHER CAMPUSES ACROSS THE COUNTRY NO LONGER MERELY A TOOL FOR NERDS AND WONKS THEY HAVE BECOME A PERVASIVE CULTURAL AND SOCIAL FORCE FOR EVERYBODY PEOPLE HERE USE ELECTRONIC MAIL MORE ROUTINELY AND CASUALLY THAN PAPER MAIL AND AS ROUTINELY AND CASUALLY AS THE TELEPHONE SAYS VICE PROVOST DOUGLAS VAN HOUWELING THE MASTER ARCHITECT OF THE CAMPUS'S COMPUTER NETWORKS HE SAYS THERE ARE MORE MICHIGAN UNDERGRADUATES WITH AN EMAIL ADDRESS THAN WITH PHONES OR TELEVISION SETS PROBABLY EVEN MORE THAN MICROWAVES HE ADDS THE ANGELL HALL COURTYARD OFFERS A GLIMPSE OF A REVOLUTION THAT IS JUST ABOUT TO WASH OVER THE REST OF US RIGHT NOW PERHAPS 10 OF AMERICANS USE A PERSONAL COMPUTER TO COMMUNICATE COMPARED WITH NEARLY 100 OF UNIVERSITY OF MICHIGAN UNDERGRADUATES BUT SIGNS ABOUND THAT THE EMAIL CULTURE IS FINALLY ENTERING THE MAINSTREAM THESE DAYS NEARLY 40 OF PERSONAL COMPUTERS HAVE A MODEM THE DEVICE THAT LETS YOU SEND MESSAGES FROM ONE COMPUTER TO ANOTHER VIA A PHONE LINE JUST FOUR YEARS AGO THE FIGURE WAS 25 ACCORDING TO MARKET RESEARCHER LINK RESOURCES CORP MEMBERSHIPS IN COMMERCIAL ONLINE SERVICES SUCH AS AMERICA ONLINE COMPUSERVE GENIE AND PRODIGY ARE GROWING BY ABOUT 30 A YEAR THE BIGGEST EMAIL NETWORK OF ALL AN ANARCHIC SPRAWL CALLED THE INTERNET IS SUDDENLY A FEVERISH TREND FORMERLY A HANGOUT FOR HEAVYDUTY HACKERS AT COMPUTER COMPANIES AND UNIVERSITIES IT'S NOW THE TOAST OF NATIONALMAGAZINE ARTICLES AND MEDIA BARONS RUPERT MURDOCH'S EMPIRE IS BUYING A LITTLE COMPANY THAT OFFERS A LINK INTO THE INTERNET A BIG TELEVISION COMPANY CONTINENTAL CABLEVISION INC IS FIGURING OUT A WAY TO PATCH THE INTERNET INTO A HOME'S CABLE LINE THE FIRST WAVES OF ADVERTISERS ARE HUNGRILY CIRCLING AROUND THE NETWORK AU COURANT TYCOONS FLASH BUSINESS CARDS WITH AN INTERNET ADDRESS THE ONE WITH THE FUNNY @ GLYPH IN THE MIDDLE NEXT TO THEIR PHONE AND FAX NUMBERS ALL THESE PLAYERS SMELL BIG MONEY IN CONSUMER PERSONALCOMPUTER NETWORKS AND WITH GOOD REASON ALREADY AN ESTIMATED 15 MILLION PEOPLE IN 50 COUNTRIES USE THE INTERNET WITH TRAFFIC RISING AS MUCH AS 15 A MONTH INTERNET BOOSTERS CALL IT THE FASTESTGROWING TELECOMMUNICATIONS SYSTEM EVER BUILT SURPASSING EVEN THE TELEPHONE NETWORK IN ITS PRIME LIKE SO MANY SOCIAL REVOLUTIONS THIS ONE HAS ITS ROOTS ON CAMPUSES AT THE ANGELL HALL COURTYARD AND OTHER COLLEGE COMPUTER ROOMS LIKE IT COLLEGES BEGAN WIDELY OFFERING EMAIL OVER THE PAST DECADE FIRST WITHIN THEIR OWN CAMPUS WALLS AND THEN VIA THE INTERNET WITH LINKS TO OTHER CAMPUSES AND COMPANIES AROUND THE WORLD IT WAS FREE AND INTENSELY ADDICTIVE STUDENTS GRADUATED AND TOOK THE HABIT WITH THEM OUT INTO THE REAL WORLD COLONIZING THOUSANDS OF NEW WORKPLACES AND FAMILIES WHAT'S HAPPENING HERE IS TENS OF THOUSANDS OF STUDENTS MOVING INTO THE JOB MARKET ARE BUSY TAKING THEIR OFFICES INTO THE ELECTRONIC AGE BECAUSE THAT'S WHAT THEY'VE BECOME USED TO SAYS MR VAN HOUWELING TAKE JENNIFER NOBLE WHO SUCCUMBED TO A SERIOUS EMAIL ADDICTION AT THE UNIVERSITY OF MICHIGAN IN 1985 SHE WAS A FRESHMAN WORKING PART TIME FOR THE CAMPUS COMPUTER SYSTEM SHE STARTED SENDING MESSAGES TO HER COMPUTER COLLEAGUES AND WAS SOON ONLINE THREE OR FOUR HOURS A DAY GOSSIPING MAKING DINNER DATES PLANNING WEEKENDS AFTER SHE GRADUATED MS NOBLE WENT TO BELFAST TO GET A MASTER'S DEGREE IN ENGLISH AT QUEENS UNIVERSITY SHE QUICKLY CADGED HERSELF ACCESS TO THE QUEENS COMPUTER SYSTEM AND BEGAN HAPPILY PLUGGING INTO THE INTERNET AGAIN ALONE IN BELFAST SHE WAS INSTANTLY BACK IN TOUCH WITH ALL OF HER MICHIGAN BUDDIES AT NO COST TO HER ON THE INTERNET ALL THE PARTICIPATING INSTITUTIONS PAY FOR A DIFFERENT LEG OF THE TRANSMISSION I DIDN'T HAVE A PHONE IN MY HOUSE SO EVERY TIME I WANTED TO MAKE A LONGDISTANCE CALL I HAD TO PUT POUND COINS IN THE MACHINE SHE SAYS WITH EMAIL YOU COULD GET EVERYTHING INTO THE MESSAGE AS OPPOSED TO TRYING TO REMEMBER IT WHILE YOU'RE ANXIOUSLY WAITING FOR THE PENCE TO TICK AWAY TODAY MS NOBLE HAS TURNED HER HABIT INTO A CAREER AND A CRUSADE AN EDITORIAL ASSISTANT AT THE LIBRARY OF CONGRESS IN WASHINGTON DC SHE SITS ON A COMMITTEE PLANNING TO BRING THE INTERNET TO FEDERAL LIBRARIES NOW SHE IS THINKING ABOUT GOING TO LIBRARY SCHOOL WHERE SHE WANTS TO BECOME A 21STCENTURY HIGHTECH LIBRARIAN CIRCLING THE GLOBE WITH ONLINE CARD CATALOGS THE EMAIL BUG IS DEEPLY INFECTIOUS AVIVA LEVINE A BIOLOGY MAJOR AT KENYON COLLEGE IN GAMBIER OHIO IS AN EMAIL DEVOTEE WHO SPENT A YEAR STUDYING AT LANCASTER UNIVERSITY IN ENGLAND SHE QUICKLY FOUND HERSELF A ROOM A BANK ACCOUNT AND AN INTERNET ADDRESS BACK HOME IN BLOOMFIELD HILLS MICH HER FATHER ROBERT LEVINE AN ORTHOPEDIC SURGEON GOT HIMSELF AN INTERNET ACCOUNT AT A NEARBY COLLEGE WHERE HE DOES RESEARCH ON CAR CRASHES THROUGHOUT MS LEVINE'S YEAR ABROAD THE LEVINE HOME WAS LITTERED WITH PRINTOUTS OF HER ELECTRONIC BULLETINS IT HELPED ME UNDERSTAND THE VALUE OF EMAIL HOW IT'S AN EFFICIENT METHOD OF COMMUNICATION SAYS DR LEVINE NOW HE'S BUSY SETTING UP AN EMAIL NETWORK FOR THE NORTH AMERICAN SPINE SOCIETY A GROUP OF DOCTORS WHO TREAT BACK AND NECK PAIN MEANWHILE AVIVA'S YOUNGER SISTER RACHEL A MICHIGAN FRESHMAN DROPPED BY ANGELL HALL THIS YEAR TO SIGN UP FOR EMAIL AFTER HER ENGLISH PROFESSOR ASKED THE CLASS TO BE SURE TO STAY IN TOUCH WITH HER ELECTRONICALLY THE ANGELL HALL COURTYARD ALSO OFFERS A FORETASTE OF NEW SOCIAL QUANDARIES WE ALL WILL FACE WHEN THE EMAIL REVOLUTION HITS THE MAINSTREAM FOR EXAMPLE NOT LONG AGO A MICHIGAN STUDENT WAS UNNERVED TO RECEIVE AN ANONYMOUS PIECE OF SEXUALLY EXPLICIT EMAIL THE STUDENT COMPLAINED TO THE NETWORK ADMINISTRATORS ASKING THEM TO SEARCH THE CENTRAL COMPUTER TO FIND OUT WHO SENT THE MAIL THE REQUEST LANDED ON THE DESK OF ANDREW PALMS A 30YEAROLD MICHIGAN ALUMNUS WHO MANAGES ANGELL HALL AND THE OTHER PUBLIC COMPUTING CENTERS AT THE UNIVERSITY OF MICHIGAN HE WAS UPSET BY THE MESSAGE BUT ALSO CONCERNED ABOUT ABUSING HIS VAST POWER TO READ EVERYONE'S MAIL HIS ULTIMATE DECISION KEEP THE SENDER'S NAME PRIVATE IF THIS WERE PHYSICAL MAIL AND I WERE THE POSTMASTER I WOULDN'T BE ABLE TO REVEAL THE NAME HE REASONS AROUND THE SAME TIME HE RECEIVED AN URGENT CALL FROM A SUPERVISOR AT ANGELL HALL SOMEWHERE IN THE ROOM'S 320 CARRELS SOMEBODY HAD RIGGED A MACINTOSH COMPUTER TO PRINT OUT AN ENDLESSLY REPEATING MESSAGE HEY I'M WASTING PAPER HEY I'M WASTING PAPER I'M THE PAPER BANDIT MR PALMS BRIEFLY PONDERED THE QUESTION OF WHETHER IT WAS AN INVASION OF PRIVACY TO LOOK IN HIS CENTRAL COMPUTER TO IDENTIFY THE PAPER BANDIT HE DECIDED IT WASN'T THE ANGELL HALL SUPERVISOR WALKED UP TO THE BANDIT'S DESK AND ASKED HIM TO STOP HE WAS PRETTY SURPRISED SAYS MR PALMS LOOKING BACK HE SAYS I'M NOT SURE BOTH OF THOSE DECISIONS WERE CORRECT BUT IT'S AN AGE WHERE WE'RE TRYING TO DECIDE WHAT IS AND ISN'T CORRECT NOT EVERY MICHIGAN COMPUTER ADMINISTRATOR IS QUITE AS SENSITIVE AS MR PALMS A FIRED UNIVERSITY MEDICAL EMPLOYEE RECENTLY BLASTED A SENIOR MANAGER IN AN EMAIL MESSAGE AND SPRAYED IT ALL OVER THE CAMPUS NETWORK MR PALMS SAYS SOME DEPARTMENT OFFICIALS INTERCEPTED THE MESSAGE AND KEPT IT FROM REACHING EMPLOYEES IN THEIR WORK GROUP THORNIER PROBLEMS STILL LIE AHEAD THE UNIVERSITY NETWORK NOW HAS POWERFUL ENOUGH GRAPHICS TECHNOLOGY TO DISPLAY A DIGITIZED PHOTOGRAPH ALONGSIDE EACH STUDENT'S ENTRY IN THE ONLINE CAMPUS DIRECTORY SOME PEOPLE THINK THE PHOTOS COULD HELP MAKE MICHIGAN'S HUGE CAMPUS FRIENDLIER AND LESS ANONYMOUS BUT MR PALMS WORRIES THAT A PHOTO DATABASE WOULD OPEN UP A PANDORA'S BOX OF TROUBLE A NIMBLEFINGERED STUDENT COULD WRITE A PROGRAM TO SEARCH FOR ALL WHITE FEMALES WITH BLOND HAIR AND BLUE EYES HE SAYS A FRATERNITY COULD SEND OUT EMAIL INVITATIONS TO A PARTY AND LEAVE OUT ALL THE FAT KIDS OR THE KIDS WITH GLASSES FOR GOOD OR ILL THE UNIVERSITY OF MICHIGAN IS LEARNING A LESSON THAT LIES AHEAD FOR THE REST OF US THE EMAIL CULTURE SAYS VICE PROVOST VAN HOUWELING IS NOT JUST KNITTING TOGETHER THE FABRIC OF GETTING WORK DONE IT KNITS THE WHOLE SOCIAL FABRIC TOGETHER MR MILLER A STAFF REPORTER IN THE WALL STREET JOURNAL'S NEW YORK BUREAU SERVED AS CONTRIBUTING EDITOR OF THIS REPORT 9311150026 931115 WHO WILL BID ON THIS MOON DUST SOLD TO THAT YUPPIE FOR 50000 BY ANDY PASZTOR STAFF REPORTER OF THE WALL STREET JOURNALV BEVERLY HILLS CALIF IF YOU'RE HANKERING FOR MOON DUST 50000 COULD BUY YOU SOME HERE TODAY IT REALLY IS FROM THE MOON AS IS A FIVEPACK OF FREEZEDRIED MUNCHIES FROM CREAM OF CHICKEN SOUP TO BUTTERSCOTCH PUDDING A LUNAR COLLECTIBLE THAT FLEW WITH THE ASTRONAUTS ON THE APOLLO 12 MISSION IN 1969 IF THE 25000 ASKING PRICE IS TOO HIGH FOR THAT LIGHT LUNCH HOW ABOUT 1000 FOR A TWOINCH FRAGMENT OF HEATSHIELD TILE FROM AN EARLIER APOLLO CAPSULE THEY'RE ALL ITEMS AT A THREEDAY AUCTION BY SUPERIOR GALLERIES HERE WHERE PROMOTERS EXPECT SPACE JUNKIES FROM AROUND THE WORLD TO PAY TOP DOLLAR FOR THE 2000 ARTIFACTS COMMEMORATING US SPACEEXPLORATION EFFORTS THESE ARE VERY DOWNTOEARTH PEOPLE WITH STARS IN THEIR EYES SAYS MICHAEL ORENSTEIN WHO PROUDLY CALLS HIMSELF SUPERIOR'S DIRECTOR OF SPACE MEMORABILIA THEY ARE ENTHRALLED BY HOLDING A PIECE OF SOMETHING THAT FLEW IN SPACE IF HE'S RIGHT ABOUT THE PSYCHOLOGICAL ALLURE FORTUNE WOULD CERTAINLY SHINE ON THE GALLERY IT EXPECTS THE AUCTION TO RING UP MORE THAN 750000 IN SALES FROM SOME 600 BIDDERS PRICES START AT 40 FOR SOME PLASTIC MODELS OF SPACE VEHICLES WHICH THEMSELVES NEVER QUITE MADE IT TO THE LUNAR SURFACE AND TOPS OUT WITH THE EXPENSIVE TALCUMLIKE DUST COLLECTED ON A PIECE OF TAPE FROM THE SUIT OF APOLLO 15 ASTRONAUT DAVID SCOTT WHILE ITEMS UP FOR BIDDING INCLUDE HUNDREDS OF PREDICTABLE PHOTOS AUTOGRAPHS AND FLAGS MR ORENSTEIN ESPECIALLY TOUTS SOME OF THE FARTHESTOUT SPACE TRIVIA CONSIDER THE FABULOUS 16INCHLONG ALUMINIUM MOON ROCK UTILITY STORAGE BOX SUGGESTED PRICE 5000 TO 7500 OR A URINECOLLECTION DEVICE DESIGNED FOR THE EARLY GEMINI PROGRAM BUT NEVER USED WHICH IS EXPECTED TO SELL FOR AS MUCH AS 3500 TASTEFULLY PICTURED IN A CLOSEUP IN THE CATALOG IT CONSISTS OF AN ATHLETIC SUPPORTER WITH AN ATTACHED RUBBER SLEEVE AND IS DESCRIBED AS AN UNUSUAL EARLY DEVICE IN AN EXCELLENT STATE OF PRESERVATION WHERE DID HE GET IT ALL NASA ITSELF WAS THROWING SOME OF THE STUFF AWAY SAYS MR ORENSTEIN BEFORE FORMER ASTRONAUTS AND EXEMPLOYEES OF CONTRACTORS AGREED TO PUT IT ON THE AUCTION BLOCK AMONG WELLTODO COLLECTORS THE SOUVENIRS PUSH SOME NOSTALGIC BUTTONS TO REMIND THEM THAT THE SPACE PROGRAM WAS OUR FINEST HOUR HE SAYS IT WAS THE MOST IMPORTANT THING THAT HAPPENED TO THE YUPPIE GENERATION 9311150025 931115 TECHNOLOGY A SPECIAL REPORT THE BASICS WHO YA GONNA CALL BY MICHAEL WOFSEY SIGNING UP FOR AN ONLINE SERVICE IS EASY ANYONE WHO BUYS A PIECE OF COMPUTER EQUIPMENT OR SOFTWARE IS LIKELY TO GET A HANDFUL OF PROMOTIONAL FLIERS FOR VARIOUS NETWORKS AND COMPUTER MAGAZINES ARE FULL OF ADS INVITING USERS TO DIAL UP A FREE TRIAL JUST FOLLOW THE DIRECTIONS IT CAN BE AS SIMPLE AS CALLING IN PRESSING THE RETURN KEY A COUPLE OF TIMES AND TYPING IN A PASSWORD HERE IS A SAMPLING OF WHAT'S AVAILABLE AMERICA ONLINE 8008276364 ITS SPECIALLY DESIGNED SOFTWARE PROVIDED FREE BY THE COMPANY MAKES IT EASIER TO USE THAN MOST OTHERS COMPUSERVE 8008488199 THE BEST WAY TO LEARN TO USE ITS HUGE ARRAY OF SERVICES IS TO BUY A COMPUSERVE MEMBERSHIP KIT WHICH SELLS FOR ABOUT 40 AT MOST COMPUTER STORES AND INCLUDES 25 OF CONNECT TIME DELPHI 8006954005 IT PROVIDES FULL ACCESS TO THE INTERNET AND SOME SPECIAL TOOLS TO MAKE USING THE NET EASIER DOW JONES NEWS/RETRIEVAL 8005223567 IT OFFERS THE FULL TEXT OF MORE THAN 1500 NEWSPAPERS MAGAZINES AND NEWSLETTERS AS WELL AS ONLINE ENCYCLOPEDIAS AND FINANCIAL REPORTS FEES ARE HIGHER DURING BUSINESS HOURS GENIE 8006389636 ITS SERVICES ARE SIMILAR TO THOSE OF COMPUSERVE NEWSNET 8003451301 IT PROVIDES THE FULL TEXT OF MORE THAN 600 NEWSPAPERS MAGAZINES AND NEWSLETTERS PERFORMANCE SYSTEMS INTERNATIONAL 7036206651 IT PROVIDES DIALUP ACCESS TO THE INTERNET FOR INDIVIDUALS THROUGH LOCAL NUMBERS IN MOST US AND SOME FOREIGN CITIES AS WELL AS DEDICATED ACCESS FOR BUSINESS USERS PRODIGY 8007763449 IT CARRIES ADVERTISING AN ANNOYANCE TO SOME USERS THE MONTHLY BASE FEE INCLUDES FREE ACCESS TO MANY OF ITS SERVICES FOR ACCESS BUY A PRODIGY MEMBERSHIP KIT SOLD AT MOST COMPUTER STORES FOR ABOUT 30 THE WORLD FROM SOFTWARE TOOL & DIE 6177390202 IT PROVIDES DIALUP INTERNET ACCESS FOR 20 A MONTH THE FIRST 20 HOURS A MONTH ARE FREE AFTER THAT THE COST IS 1 AN HOUR BULLETINBOARD SYSTEMS KNOWN AS BBSES ARE MORE SPECIALIZED THAN THE COMMERCIAL ONES ABOVE BUT THEY HAVE MANY OF THE SAME SERVICES SOME BULLETIN BOARDS ARE FREE SOME CHARGE MODEST ANNUAL FEES A FEW CHARGE BY THE HOUR THERE ARE THOUSANDS OF BOARDS AND MAGAZINES LIKE BOARDWATCH AND ONLINE ACCESS LIST MODEM NUMBERS FOR MANY OF THEM SOMETIMES THE NUMBERS ARE ARRANGED BY AREA CODE SO YOU CAN START WITH BULLETIN BOARDS IN YOUR LOCAL CALLING AREA HERE ARE A FEW TO EXPLORE AVIATION TOTAL INFORMATION SYSTEMS 7032420161 COVERS MANY ASPECTS OF FLYING AND AVIATION BOOK BBS 8002330233 AN ONLINE BOOKSTORE WITH INFORMATION ABOUT BUSINESS AND COMPUTER BOOKS CLASSACOMPUTERFIEDS 8007534223 PROBABLY THE WORLD'S LARGEST COLLECTION OF COMPUTERIZED CLASSIFIED ADVERTISEMENTS COMPUFARM BBS 4035564243 FARM AND LIVESTOCK NEWS AND REPORTS AS WELL AS A DIRECTORY OF AGRICULTURAL SOFTWARE EXECPC 4147894200 THE LARGEST BULLETINBOARD SYSTEM IN THE COUNTRY WITH A FOCUS ON BUSINESSORIENTED DISCUSSIONS AND SOFTWARE FCC PUBLIC ACCESS LINK 3017251585 UPDATES OF MEETINGS AND RULES FROM THE FEDERAL COMMUNICATIONS COMMISSION GLIB BBS 7033794568 DISCUSSION OF GAY AND LESBIAN ISSUES HANDICAPPED EDUCATIONAL EXCHANGE 3017637662 OFFERS DISCUSSION AND TECHNOLOGICAL INFORMATION TO THE DISABLED HERPNET 2154643561 THE BULLETIN BOARD FOR EVERYONE WHO LOVES REPTILES AND HERPETOLOGY INTERNIC 8004444345 FREE REFERRAL SERVICE TO HELP INDIVIDUALS AND BUSINESSES FIND LOCAL INTERNET ACCESS IRS STATISTICS OF INCOME DIVISION BULLETIN BOARD 2028740408 PUBLICLY AVAILABLE STATISTICAL INFORMATION FROM THE INTERNAL REVENUE SERVICE LEGAL EASE BBS 5093250432 CONTAINS LEGAL FORUMS DATABASES AND BBS LISTINGS MOVIESBYMODEM 2168610467 SEARCH AN IMMENSE DATABASE OF VIDEOS PLACE AN ORDER AND IT IS SENT DIRECTLY TO YOUR HOME OR OFFICE NASA SPACELINK 2055446360 EDUCATIONAL AND CLASSROOM MATERIALS ON SPACE AND NASA PROJECTS NATIONAL GENEALOGICAL SOCIETY 7035250050 INFORMATION AND HELP FOR PEOPLE TRYING TO TRACK THEIR ANCESTRY SBA ONLINE 8008275722 A BULLETIN BOARD FOR THOSE WHO WANT TO START OR EXPAND A SMALL BUSINESS SUPERDEMOCRACY FOUNDATION BBS 3053707850 DISCUSSION OF ELECTRONIC DEMOCRACY AND SUPERDEMOCRACY VANGUARD BBS 7187403911 EVERYTHING FOR THE HAMRADIO HOBBYIST AND FOR PEOPLE INTERESTED IN SETTING UP WEATHERSATELLITE GROUND STATIONS BOARDWATCH A BULLETIN BOARD AND MAGAZINE LISTING THOUSANDS OF BULLETINBOARD SYSTEMS AND THEIR SPECIALITIES ONLINE ACCESS CALLS ITSELF THE MAGAZINE THAT MAKES MODEMS WORK NEWS ABOUT ONLINE SERVICES AROUND THE WORLD ALSO INCLUDES BULLETINBOARD LISTINGS BY AREA CODE THE WHOLE EARTH ONLINE ALMANAC BY DON RITTNER A BOOK PUBLISHED BY PRENTICE HALL THAT LISTS THOUSANDS OF RESOURCES AVAILABLE THROUGH CONSUMER AND PROFESSIONAL ONLINE SERVICES THE WHOLE INTERNET BY ED KROL PUBLISHED BY O'REILLY & ASSOCIATES THIS BOOK EXPLAINS JUST ABOUT EVERYTHING NEEDED TO USE THE INTERNET EXPLORING THE WORLD OF ONLINE SERVICES BY ROSALIND RESNICK THIS SYBEX TITLE GIVES PRACTICAL INFORMATION ABOUT CHOOSING AND USING ONLINE SERVICES 9311150024 931115 TECHNOLOGY A SPECIAL REPORT A NEW WORLD GLOBAL VILLAGERS WHAT DRAWS PEOPLE ONLINE FOR THESE THREE USERS EVERYTHING FROM RESEARCH TO COMPANIONSHIP BY THOMAS E WEBER SOME OF THEM ARE TECHNONERDS OTHERS ARE NOVICES SOME DO IT FOR BUSINESS OTHERS FOR PLEASURE SOME SPEND ALMOST EVERY WAKING MOMENT ONLINE OTHERS LOG ON ONLY OCCASIONALLY THERE IS IN OTHER WORDS NO TYPICAL ONLINE USER HERE'S A LOOK AT HOW THREE PEOPLE USE THE NETWORKS MARK HERRO OF AUSTIN TEXAS PROBABLY FITS MANY PEOPLE'S IMAGE OF THE TYPICAL ONLINE USER THE 34YEAROLD MR HERRO IS TECHNICALLY PROFICIENT WITH AN INTEREST IN COMPUTERS THAT DATES BACK TO EARLY HOME MODELS HE IS AN AMATEUR RADIO BUFF AND WORKS AS A SENIOR TECHNICIAN FOR SPRINT CORP FOR MR HERRO A VISIT TO CYBERSPACE IS A DAILY PLEASURE AFTER RETURNING HOME FROM WORK EACH EVENING HE BOOTS UP HIS COMPUTER SWITCHES ON HIS MODEM AND SPENDS AN HOUR OR MORE CRUISING THE ELECTRONIC NETWORKS I'M ONLINE BASICALLY EVERY DAY ONE WAY OR ANOTHER HE SAYS IT'S DEFINITELY A PART OF MY LIFE ONE EVENING FOR INSTANCE MR HERRO DIALS UP THE COMPUSERVE BULLETINBOARD SYSTEM AND INSTRUCTS HIS COMPUTER TO CHECK A SERIES OF DISCUSSIONS FORUMS IN COMPUSERVE PARLANCE AND TO RETRIEVE COMMENTS POSTED BY OTHER MEMBERS MR HERRO IS A REGULAR VISITOR TO SEVERAL FORUMS SUCH AS ONE DEVOTED TO THE STAR TREK TELEVISION SERIES AND ITS SPINOFFS TONIGHT'S VISIT TURNS UP A FEW VALUABLE NUGGETS OF INFORMATION PREVIEWS OF NEW EPISODES OF STAR TREK THE NEXT GENERATION COURTESY OF MEMBERS WITH CONNECTIONS TO THE PRODUCER OF THE SERIES AFTER READING THE LATEST MESSAGES ON ABOUT 10 OTHER FORUMS MR HERRO SPENDS A FEW MINUTES PUTTING TOGETHER REPONSES FOR INSTANCE SOMEBODY IN THE TELECOMMUNICATIONS FORUM HAS LEFT A QUESTION REGARDING COMMUNICATIONS SYSTEMS FOR THE DEAF SO MR HERRO TRANSMITS A MESSAGE LETTING THE USER KNOW ABOUT INFORMATION AVAILABLE IN THE DISABILITIES FORUM A TYPICAL EVENING ONLINE FOR MR HERRO ALSO INCLUDES A VISIT WITH SOME OLD FRIENDS HE ROUTINELY CONNECTS INTO AN ELECTRONIC CHAT LINE WHICH ALLOWS HIM TO CONVERSE BY TYPING SHORT MESSAGES THAT APPEAR INSTANTLY ON THE SCREENS OF ALL OTHER USERS FOR MR HERRO WHO IS SINGLE IT'S THE EQUIVALENT OF MEETING A GROUP OF REGULAR FRIENDS AT THE NEIGHBORHOOD BAR IT'S JUST SOCIALIZING HE SAYS PEOPLE ARE SHOOTING THE BULL TALKING ABOUT WHAT'S ON TELEVISION WHAT'S GOING ON IN EVERYONE'S LIVES DARN NEAR EVERYTHING OF COURSE THE ELECTRONIC LOUNGE ISN'T WITHOUT A COVER CHARGE MOST ONLINE ACTIVITIES ARE BILLED BY THE MINUTE THAT DOESN'T INCLUDE ANY PHONE CHARGES ALTHOUGH THE CALLS TO GET INTO MOST MAJOR SYSTEMS INVOLVE ONLY LOCAL CALLS WHEN MR HERRO FIRST BEGAN HIS ONLINE ADVENTURES YEARS AGO HE QUICKLY REALIZED HE HAD ACQUIRED AN EXPENSIVE HOBBY WHEN I GOT A 500 BILL FOR ONE MONTH THAT WAS WHEN I LEARNED MY LESSON HE SAYS NOW HE USES A SOFTWARE PACKAGE THAT ALLOWS HIM TO AUTOMATE SOME COMMANDS ENABLING HIM TO SAVE TIME AND CUT DOWN ON HIS CHARGES EVEN SO WITH HIS ACCOUNTS ON OTHER SERVICES FACTORED IN MR HERRO ESTIMATES HIS AVERAGE MONTHLY BILL AT ABOUT 200 WHEN JEANETTE FENDERSON OF NEWTON PA ORDERED A PERSONAL COMPUTER FROM A MAILORDER COMPANY ABOUT A YEAR AND A HALF AGO SHE KNEW SHE WANTED A MODEM TO EXPERIMENT WITH ONLINE SERVICES BEYOND THAT SHE DIDN'T HAVE MANY SPECIFIC PLANS ALTHOUGH SHE HAD A GENERAL IDEA OF SOME OF THE RESEARCH AND INFORMATION SERVICES AVAILABLE ONLINE SHE DIDN'T REALLY KNOW WHAT USES SHE WOULD FIND FOR THE MODEM NOW THE 41YEAROLD MRS FENDERSON USES HER TIME ONLINE TO KEEP TABS ON A VARIETY OF PERSONAL INTERESTS ONE OF THOSE IS LEARNING MORE ABOUT INFORMATION SERVICES MRS FENDERSON HAS BECOME AN ACTIVE PARTICIPANT IN A USERSUPPORT FORUM ON COMPUSERVE WHERE FELLOW ELECTRONIC VOYAGERS OFFER ASSISTANCE AND OCCASIONAL REASSURANCE NOW I'M LEARNING THE TRICKS OF THE TRADE FROM PEOPLE ONLINE SHE SAYS THOUGH FAR FROM AN ONLINE ADDICT MRS FENDERSON HAS COME ACROSS A FEW RUNNING DISCUSSIONS THAT SHE CHECKS NEARLY EVERY DAY FOR EXAMPLE SHE TRACKS INFORMATION ON ALTERNATIVE MEDICINE AND DIETS IN COMPUSERVE'S NEW AGE FORUM USUALLY I'LL GO TO THE NEW AGE FORUM AND RETRIEVE EVERYTHING THEY HAVE ON DIET AND HERBS SHE SAYS ANOTHER AREA OF INTEREST IS THE DISABILITY DISCUSSION FORUM MRS FENDERSON SAYS PARTICIPANTS THERE HAVE BEEN HELPFUL WITH INFORMATION AND ADVICE ON HER SON'S AUDITORYRELATED LEARNING DISABILITY NOW THAT SHE HAS BECOME FAMILIAR WITH THE SYSTEM IN GENERAL MRS FENDERSON IS SEEKING OUT SOME OF THE POWERFUL RESEARCH TOOLS INCLUDING ACCESS TO THE STORED TEXTS OF SPECIALIZED PUBLICATIONS A REGISTERED NURSE MRS FENDERSON IS HOPING TO SET UP A RESEARCH AND CONSULTING BUSINESS AND SHE SEES ONLINE SERVICES AS A POTENTIALLY CRUCIAL TOOL MRS FENDERSON ISN'T THE ONLY ONE IN HER HOUSEHOLD PLUGGING IN TO ONLINE SERVICES AFTER DINNER MOST EVENINGS SHE AND HER HUSBAND DIAL UP COMPUSERVE BRIEFLY TO CHECK ON THE PRICES OF STOCKS THEY OWN AND THEIR 11YEAROLD DAUGHTER IS GETTING INTO THE ACT AS WELL USING AN ONLINE ENCYCLOPEDIA FOR SCHOOL HOMEWORK AS WELL AS TO KEEP TABS ON HER FAVORITE BASEBALL TEAM SHE GOES INTO THE SPORTS AREA AND READS THROUGH THE PHILLIES NEWS MRS FENDERSON SAYS SHE READS THAT AFTER EVERY GAME FOR GINNY KOLMAR CONNECTING HER COMPUTER TO THE OUTSIDE WORLD HAS MEANT CONNECTING WITH NEW FRIENDS AROUND THE COUNTRY I'VE MET ALL SORTS OF PEOPLE ONLINE SAYS MS KOLMAR A 60YEAROLD FORMER THEATRICAL PRESS AGENT IN SAN FRANCISCO SHE HAD NEVER USED A COMPUTER UNTIL SHE AND HER HUSBAND RETIRED FROM THEIR JOBS THEN SHE DECIDED TO JOIN SENIORNET AN ORGANIZATION THAT TEACHES COMPUTER SKILLS TO OLDER USERS BEFORE LONG SHE HAD PURCHASED HER OWN COMPUTER AND WAS BUSILY SCOUTING AMERICA ONLINE WHICH HAS AN AREA RESERVED FOR SENIORNET DISCUSSIONS IN THAT ONLINE FORUM AND THROUGH CHAT SESSIONS SENIORNET MEMBERS AND OTHERS CONGREGATE TO DISCUSS ANYTHING AND EVERYTHING MOSTLY MS KOLMAR SAYS PEOPLE ARE JUST GETTING TO KNOW ONE ANOTHER WE'VE EVEN HAD ONLINE PARTIES SHE SAYS ON LABOR DAY WE HAD AN ONLINE PICNIC AND EVERYONE BROUGHT FOOD IT'S ALL MAKEBELIEVE OF COURSE BUT IT'S FUN THE BONDS BETWEEN SOME OF THESE ONLINE CORRESPONDENTS HAVE BECOME SO STRONG THAT REAL PARTIES THE OFFLINE SORT ARE POPPING UP WE ALL JUST DECIDED WE WANTED TO GET TO KNOW ONE ANOTHER IN PERSON MS KOLMAR EXPLAINS NOW EVERY TIME SOMEONE FROM ONLINE COMES OUT TO SAN FRANCISCO THERE ARE TWO OF US WHO INSIST ON HAVING PARTIES FOR ALL OF HER ELECTRONIC FRIENDS MS KOLMAR KNOWS ONE PERSON SHE WON'T ENCOUNTER ONLINE MY HUSBAND HE'S 81 HE SAYS HE'S TOO OLD TO LEARN BUT I DON'T KNOW SHE SAYS MR KOLMAR'S INTEREST IN ONLINE SERVICES IS A NARROW ONE HE NEEDS TO MAKE SURE THE COUPLE'S SOLE TELEPHONE LINE IS FREE HE'LL SAY DO YOU WANT TO GO ONLINE OR CAN I MAKE A PHONE CALL' MS KOLMAR SAYS MS KOLMAR KNOWS THERE'S MORE TO AMERICA ONLINE THAN SENIORNET BUT SHE DOESN'T USUALLY VENTURE BEYOND THE BORDERS OF HER DISCUSSION GROUP WHEN SHE DOES SHE'S OFTEN ASSAULTED WITH ONLINE COMEONS IN SOME AREAS SHE SAYS IT SEEMS LIKE EVERYONE IS A 12YEAROLD WITH RAGING HORMONES MR WEBER IS A REPORTER FOR THE DOW JONES NEWS SERVICE 9311150023 931115 TECHNOLOGY A SPECIAL REPORT CHASING THE GOLD NET ASSETS THERE'S NOTHING VIRTUAL ABOUT THE MONEY BEING MADE BY THOSE PROVIDING ONLINE SERVICES BY JOHN J KELLER ONLINE NETWORKS ARE SO HOT YOU DON'T NEED A MODEM AND PASSWORD TO KNOW THEY HAVE TURNED INTO A BIG BUSINESS LESS CLEAR TO THE SERVICES' USERS AND NONUSERS ALIKE ARE ALL THE COMPANIES THAT CAN CLAIM A PIECE OF THE ONLINE ACTION AS WELL AS WHO GETS HOW BIG A SLICE FOR PROVIDING WHAT SERVICE PILES OF MONEY ARE BEING TAKEN IN BY ONLINE NETWORKS AND BY OTHER BUSINESSES FROM MAGAZINES TO MODEM MAKERS THAT ARE PLUGGING IN TO THE DEMAND IN LESS OBVIOUS WAYS THE ELECTRONICINFORMATION INDUSTRY'S REVENUE TOTALED 116 BILLION IN 1992 AND IS GROWING 14 ANNUALLY ACCORDING TO ESTIMATES FROM YANKEE GROUP A BOSTON RESEARCH FIRM BY NEXT YEAR THE INDUSTRY WILL TOP 15 BILLION THOSE FIGURES INCLUDE OLDFANGLED MAINFRAMETOMAINFRAME DATA EXCHANGES BUT YANKEE SAYS TWOTHIRDS OF THE BUSINESS IS GENERATED BY PEOPLE USING COMPUTERS TO FETCH INFORMATION OR INTERACT WITH OTHER COMPUTERS WITH 132 MILLION PERSONAL COMPUTERS IN USE WORLDWIDE AND THE NETWORKS FOR MOVING ELECTRONIC INFORMATION CONSTANTLY IMPROVING THE USE OF ONLINE SERVICES WILL EXPLODE BY THE END OF THE DECADE SAYS JEFF LEOPOLD AN ANALYST AT YANKEE OF COURSE THE FIELD IS RELATIVELY YOUNG AND IT'S IMPOSSIBLE TO BE SURE EXACTLY WHERE AND HOW THE BIG MONEY WILL BE MADE A FEW YEARS FROM NOW AMONG THE UNCERTAINTIES RAPID GROWTH IN USE OF THE INTERNET THE NONPROFIT NETWORK OF NETWORKS AND THE CLINTON ADMINISTRATION'S PLANS TO FORGE AN INFORMATION SUPERHIGHWAY THE ONLINE INDUSTRY HAD ITS ROOTS IN SMALL PRIVATELY OWNED BULLETIN BOARDS WHICH NOW NUMBER IN THE THOUSANDS BUT IT IS EVOLVING TOWARD A MORE STRUCTURED BUSINESS WITH A FEW BIG MASSMARKET SERVICES FOUR LEADING COMMERCIAL SERVICES ALONE ACCOUNT FOR FOUR MILLION USERS BOTH BIG AND SMALL SERVICES ALLOW CUSTOMERS TO COMMUNICATE WITH FRIENDS OR FELLOW HOBBYISTS JOIN DISCUSSIONS OR DOWNLOAD SAMPLE SOFTWARE PROGRAMS BUT THE BIGGER NETWORKS INCLUDING AMERICA ONLINE INC COMPUSERVE INC PRODIGY SERVICES CO AND GENIE OFFER A VARIETY OF OTHER SERVICES FROM SHOPPING TO TRAVEL ARRANGEMENTS TO STOCK TRADES THE HOTTEST COMPANY THOUGH NOT THE BIGGEST IS VIENNA VABASED AMERICA ONLINE WHOSE SUBSCRIBER BASE GREW 60 TO 350000 IN THE YEAR ENDED JUNE 30 IT MIXES FAMILYORIENTED AND COMPUTERHOBBYIST PROGRAMS WITH CUTTINGEDGE FORUMS WHERE PEOPLE CAN CONVERSE ELECTRONICALLY A WHITE HOUSE CONNECTION PUTS USERS IN TOUCH WITH THE NATION'S POLITICAL NERVE CENTER THE ROCK BAND DEPECHE MODE WENT TO AMERICA ONLINE WHEN IT WANTED A CHAT LINE TO LINK IT WITH ITS FANS HAVING SUCH CONNECTIONS TO THE TASTE MAKERS IS CRITICAL SAYS ERIC ARNUM EDITOR OF ELECTRONIC MAIL & MICROSYSTEMS AN INDUSTRY NEWSLETTER IN FOREST HILLS NY IT'S KIND OF LIKE HAVING MICHAEL JORDAN WEARING YOUR SNEAKERS IT REALLY MATTERS AMERICA ONLINE'S RESULTS SHOW HOW IMPORTANT IT IS NET INCOME JUMPED 39 IN FISCAL 1993 TO 31 MILLION WHILE REVENUE ROSE 50 TO 40 MILLION THE COMPANY'S SHARES HAVE TRADED RECENTLY ABOUT FIVE TIMES HIGHER THAN THEIR INITIAL PUBLIC OFFERING PRICE OF 1150 IN MARCH 1992 COMPUSERVE OWNED BY H&R BLOCK INC HAS 14 MILLION SUBSCRIBERS UP 14 FROM 1992 IT'S GEARED MORE TOWARD COMPUTER HOBBYISTS WITH OFFERINGS SUCH AS ONLINE CHAT SERVICES WITH SOFTWARE COMPANIES AND INTERNET CONNECTIONS COMPUSERVE WON'T DISCLOSE PROFIT FIGURES WHICH MR ARNUM OF ELECTRONIC MAIL SAYS MIGHT BE MISLEADING ANYWAY ITS REVENUE ROSE ABOUT 16 LAST YEAR TO 280 MILLION HE SAYS BUT ABOUT HALF CAME FROM AUTHORIZATIONS OF VISA CREDITCARD PURCHASES NOT FROM ONLINE SERVICES AIMED AT COMPUTER USERS JUPITER COMMUNICATIONS INC A NEW YORK RESEARCH FIRM ESTIMATES COMPUSERVE HAS PROFIT OF 28 MILLION A YEAR FROM ITS CONSUMER ONLINE SERVICES PRODIGY A JOINT VENTURE OF INTERNATIONAL BUSINESS MACHINES CORP AND SEARS ROEBUCK & CO IS THE MOST FAMILYORIENTED WHILE SOME BOARDS ALLOW OBSCENITIES ONLINE PRODIGY IS KIND OF A PRUDISH SERVICE VERY GRATED MR ARNUM SAYS IT HAS ONE MILLION SUBSCRIBERS AND ANALYSTS ESTIMATE ITS REVENUE AT 200 MILLION TO 220 MILLION LAST YEAR THE COMPANY WON'T SAY HOWEVER PRODIGY ISN'T YET PROFITABLE THE REASON IT HAS SPENT AN ESTIMATED 800 MILLION GETTING STARTED ANALYSTS SAY AND FOR YEARS THE COMPANY PRACTICALLY GAVE ITS SERVICE AWAY CHARGING MONTHLY FEES OF NO MORE THAN 1495 WHILE NOT ALSO CHARGING USERS BY THE HOUR AS MOST OTHER SERVICES DO THAT CHANGED IN JULY WHEN PRODIGY ADOPTED HOURLY FEES OF 360 TO 480 MANY USERS HAVE SINCE ABANDONED THE SERVICE THE COMPANY SAYS THAT FEWER THAN 10 HAVE LEFT AND THAT THE NUMBER OF SUBSCRIBERS HAS ALREADY REBOUNDED ABOVE ITS OLD LEVEL A SPOKESMAN SAYS MEMBERSHIP IS GROWING AT DOUBLEDIGIT RATES AND REVENUES ARE AHEAD OF THAT FIGURE HE ADDS THAT THE FEES WILL MAKE PRODIGY PROFITABLE IN 1994 MR ARNUM HOWEVER SAYS PRODIGY ISN'T GROWING AT DOUBLEDIGIT ANYTHING THEY'RE FLAT HE SAYS BECAUSE OF THE NEW RATES GENIE RUN BY GENERAL ELECTRIC CO'S INFORMATION SERVICES UNIT HAD 400000 USERS LAST YEAR AND IS AT ABOUT THE SAME LEVEL NOW THE PROBLEM SAYS MR ARNUM IS THAT IT DOESN'T HAVE A FOCUS LIKE THE OTHER SERVICES HE ADDS THERE ARE NO ADJECTIVES LIKE FAMILYORIENTED' ATTACHED TO IT INSTEAD GENIE IS A SMALL COMPANY WITHIN A BIG DATATRANSMISSION BUSINESS THAT CATERS TO THE CORPORATE MARKET JOHN BARBER GENIE'S GENERAL MANAGER SAYS THE COMPANY PLANS A BIG INCREASE IN MARKETING SPENDING EARLY NEXT YEAR THOUGH HE WON'T GIVE DETAILS GE DOESN'T BREAK OUT GENIE'S NUMBERS BUT A PERSON CLOSE TO THE SERVICE SAYS IT HAS ANNUAL REVENUE OF ABOUT 30 MILLION EARNINGS MAY BE HELPED BY A RECENT RATE CHANGE LIKE PRODIGY GENIE RECENTLY ADDED HOURLY CHARGES TO ITS MONTHLY FEES JUPITER ESTIMATED GENIE'S PROFIT BEFORE THE RATE CHANGE AT ABOUT 10 MILLION TO 12 MILLION A YEAR THEN THERE'S THE INTERNET THE ADHOC BUNCH OF PRIVATE AND PUBLIC NETWORKS THAT SHARE A COMMON COMPUTER CODE AND BACKBONE NETWORK TO THE UNINITIATED USER INTERNET TRAVEL CAN BE A DIFFICULT PROCESS BECAUSE THE USER MUST KNOW THE CORRECT CODES TO FIND HIS OR HER WAY TO THE RIGHT DATABASE OR ELECTRONIC LIBRARY THERE ARE NUMEROUS COMPANIES THAT SPECIALIZE IN MAKING THIS ACCESS EASY STILL EVERYTHING THAT MOVES OVER NETWORKS CONNECTED BY INTERNET CODES TRAVELS AT A FRACTION OF THE COST OF TRADITIONAL CARRIERS THAT'S DUE PARTLY TO A SUBSIDY FROM THE FEDERAL GOVERNMENT ACCESS IS ALSO CHEAP BECAUSE INSTITUTIONS PAY A FLAT FEE AND THERE IS NO CHARGE PER MESSAGE THOUGH IN SOME CASES THERE IS A MINIMAL HOURLY CHARGE FOR BEING HOOKED UP TO THE NETWORK PEOPLE WHO WANT TO BUY PRODUCTS ENTER AN ELECTRONIC COMMUNITY OR SEARCH A DATABASE DON'T HAVE TO DO SO THROUGH PRODIGY COMPUSERVE OR SOME OTHER COMMERCIAL SERVICE IF THEY KNOW THE RIGHT CODES THEY CAN ENTER AN INTERNET ADDRESS AND GAIN DIRECT ACCESS TO THE SERVICE OF THEIR CHOICE THE ONLY THING THE BIG SERVICES HAVE OVER THE INTERNET IS MORE PHONE LINES COMING INTO THEM A 10ANHOUR FEE AND AN ENTRYLEVEL USER INTERFACE SAYS MICHAEL SUSSEL AN INDEPENDENT BULLETINBOARD OPERATOR IN NEW YORK ANY IDIOT CAN GET ONTO COMPUSERVE OR PRODIGY AND MOVE IN A SLOW METHODICAL FASHION THAT INCIDENTALLY COSTS THEM MORE MONEY IN ONLINE TIME CHARGES WHILE THE MASSMARKET ONLINE SERVICES ARE THE MOST VISIBLE THERE'S STILL PLENTY OF ROOM FOR SMALL ENTREPRENEURIAL BULLETIN BOARDS WHOSE NUMBERS HAVE GROWN TO 13000 IN THE US FROM A FEW HUNDRED IN THE EARLY 1980S FEES FOR ACCESS TO BOARDS VARY WIDELY SOME ARE FREE AND SOME CHARGE MORE THAN 100 A YEAR FOR A SUBSCRIPTION THAT LETS USERS INTO THE SERVICE ANYTIME AFTER THEY PUNCH IN A PASSWORD MANY BULLETIN BOARDS ARE HOMEBASED BUSINESSES THAT USE A POWERFUL IBMCOMPATIBLE PERSONAL COMPUTER MODEMS AND MANY PHONE LINES TO TAKE INCOMING CALLS MR SUSSEL THE NEW YORK SYSTEM OPERATOR AND HIS WIFE KATHY RUN A BOARD CALLED THE INVENTION FACTORY OUT OF THEIR NEW YORK LOFT A FORMER INVENTOR OF CHILDREN'S TOYS THAT GLOW IN THE DARK MR SUSSEL AT FIRST BOUGHT HIS COMPUTER AND MODEM TO READ BULLETIN BOARDS AND TO TRY OUT AND TRADE PROGRAMS WITH OTHER USERS HIS HOBBY QUICKLY GOT TOO EXPENSIVE IN 1984 THE SUSSELS TURNED IT INTO A BUSINESS TODAY THE INVENTION FACTORY HAS 3200 SUBSCRIBERS FROM KIDS LOOKING FOR GAMES TO BUSINESSES SEEKING NEW SOFTWARE FOR OLD TASKS LIKE ACCOUNTING FEES RANGE FROM 25 A YEAR FOR ONE HOUR OF USE AND 12 MEGABYTES OF SOFTWARE DOWNLOADS A DAY TO 150 A YEAR FOR THREE HOURS OF USE AND 36 MEGABYTES OF DOWNLOADING A DAY ON HIGHERSPEED LINES MR SUSSEL ESTIMATES THAT THE BOARD TAKES IN ABOUT 200000 A YEAR BUT THAT'S BEFORE EXPENSES WHICH INCLUDE PART OF THE SUSSEL'S RENT ELECTRICITY TO RUN HIS BANK OF COMPUTERS MODEMS AND OTHER COMPUTER PERIPHERALS AND MONTHLY PHONE CHARGES FOR 24 PHONE LINES NEW YORK'S HIGH TAX RATE IS ANOTHER DRAIN ON THE INVENTION FACTORY'S NET INCOME NEW YORK STATE CHARGES A 5 MODEM TAX ON INFORMATION DELIVERED ELECTRONICALLY IN ADDITION TO ITS REGULAR SALES TAX OF 825 WE'RE LUCKY IF WE TAKE HOME 40000 AT THE END OF THE YEAR MR SUSSEL SAYS WE'RE NOT RICH BUT WE LIVE WHERE WE WORK AND NOBODY CAN FIRE US BULLETIN BOARDS AREN'T THE ONLY OPERATIONS MAKING A BUSINESS OF THE ONLINE BUSINESS MANY CATALOG COMPANIES LIKE LANDS' END INC SELL THEIR PRODUCTS ONLINE EITHER DIRECTLY OR THROUGH THE BIG BULLETIN BOARDS AS AN ADJUNCT TO THEIR MAIN OPERATIONS OTHER BUSINESSES RELY ON ELECTRONIC SALES INCLUDING NOTEWORTHY MUSIC IN NASHUA NH WHICH SELLS MUSIC ON COMPACT DISK AT A STEEP DISCOUNT THROUGH GENIE COFFEE ANYONE IN SAN FRANCISCO SELLS COFFEE BEANS GROUND COFFEE AND GOURMET TREATS SUCH AS CAKES PCFLOWERS AVAILABLE ON PRODIGY HAS BECOME ONE OF THE TOP FIVE SELLERS OF FLOWERS THROUGH FTD IN LESS THAN FOUR YEARS THIS YEAR WE'LL DO 10 MILLION IN SALES UP FROM 1 MILLION IN 1990 SAYS WILLIAM J TOBIN A COFOUNDER OF THE STAMFORD CONN COMPANY AND THAT'S WITH JUST SEVEN EMPLOYEES I'M TOLD WE HAVE THE HIGHEST PROFIT MARGIN OF ANY COMPANY IN THE COUNTRY EXCEPT FOR A DRUG DEALER HE SAYS THE BIGGER ONLINE NETWORKS GET PART OF THEIR REVENUE FROM COMMISSIONS ON SUCH SERVICES NONE OF THE BIG NETWORKS WILL DISCUSS THEIR COMMISSIONS BUT AT PRODIGY THEY CAN RANGE FROM 5 ON LOWMARGIN ITEMS LIKE SOFTWARE AND VIDEOTAPES TO 50 ON CLOTHING AND FLOWERS SAYS LISA JOHNSON AN ANALYST AT LINK RESOURCES INC A NEW YORK RESEARCH FIRM THAT FOLLOWS THE COMPUTER AND COMMUNICATIONS INDUSTRIES COMPUSERVE CHARGES 2 ON ALL PRODUCTS MS JOHNSON SAYS GENIE AND AMERICA ONLINE HAVE MUCH SMALLER SHOPPING SERVICES AND NEGOTIATE DIFFERENT COMMISSIONS WITH EACH SELLER COMPANIES THAT HELP CONSUMERS HOOK UP TO THE NETWORKS ARE ALSO BENEFITING FROM THE ONLINE BOOM ONE GROWING BUSINESS PROVIDING ACCESS TO THE INTERNET WHICH WAS BUILT TO LINK LARGE COMPUTERS AND USERS CONNECTED TO THEM PERFORMANCE SYSTEMS INTERNATIONAL INC IN HERNDON VA AND SPRINTLINK A SERVICE OF SPRINT CORP WESTWOOD KAN BETWEEN THEM CONTROL 75 TO 80 OF THE 20 MILLION MARKET IN PROVIDING INTERNET GATEWAYS TO COMPANIES AND INSTITUTIONS SAYS ELECTRONIC MAIL'S MR ARNUM HE EXPECTS THE MARKET TO DOUBLE IN THE NEXT YEAR AMERICAN TELEPHONE & TELEGRAPH CO RECENTLY ANNOUNCED IT WILL PROVIDE ITS CORPORATE CUSTOMERS WITH COMPLETE ACCESS TO THE INTERNET FULL INTERNET ACCESS CAN COST AS MUCH AS 65000 A YEAR PLUS THE EXPENSE OF DEDICATED PHONE LINES FOR HOBBYISTS AND CONSUMERS THE BIG ONLINE SERVICES AND OTHER COMPANIES PROVIDE LIMITED DIALUP ACCESS TO THE INTERNET FROM COMPUTERS AT HOME THESE SERVICES COST 1 TO 10 AN HOUR DEPENDING ON HOW EXTENSIVE THE ACCESS IS NONE ALLOW THE MASSIVE FILE TRANSFERS AND DOWNLOADS THAT INSTITUTIONAL USERS CAN GET CERFNET A SAN DIEGOBASED DIVISION OF GENERAL ATOMICS CORP TAKES IN 3 MILLION A YEAR FROM SERVING BOTH LARGE USERS AND INDIVIDUALS ITS BASIC HOURLY SERVICE COSTS 20 A MONTH PLUS 3 TO 10 PER HOUR ONLINE OTHER SMALL ACCESS PROVIDERS INCLUDE SOFTWARE TOOL & DIE BROOKLINE MASS AND PORTAL COMMUNICATIONS CUPERTINO CALIF COMPANIES THAT PROVIDE SOME OF THE PLUGS AND WIRES OF ONLINE CONNECTIONS ARE SEEING STRONG GROWTH WHILE THE COMPUTER INDUSTRY LANGUISHES THE MODEM INDUSTRY TOOK IN 12 BILLION LAST YEAR AND IS EXPANDING MORE THAN 10 ANNUALLY US ROBOTICS INC IN SKOKIE ILL HAD REVENUE OF 1124 MILLION IN THE YEAR ENDED OCT 31 1992 NEARLY TRIPLE THAT OF TWO YEARS EARLIER EARNINGS IN THE SAME PERIOD JUMPED SIXFOLD TO 1 A SHARE IN THE THIRD QUARTER ENDED JULY 31 THE COMPANY'S NET INCOME SHOT UP 58 TO 45 MILLION AS REVENUE SURGED 69 TO 482 MILLION SIMILARLY DATA RACE INC IN SAN ANTONIO SAW PROFIT AND REVENUE MORE THAN DOUBLE IN THE FISCAL YEAR ENDED JUNE 30 TO 49 MILLION AND 439 MILLION RESPECTIVELY FIGURES AREN'T AVAILABLE FOR THE TWO BIGGEST MODEM MAKERS CLOSELY HELD HAYES MICROCOMPUTER PRODUCTS INC AND MOTOROLA INC'S CODEX CORP BULLETIN BOARDS ALSO HAVE CREATED A MARKET IN SPECIALIZED SOFTWARE NEEDED TO RUN THE SYSTEMS MOST BOARDS RELY ON ONE OF FOUR COMPANIES CLARK DEVELOPMENT CO IN MURRAY UTAH MUSTANG SOFTWARE INC BAKERSFIELD CALIF GALACTICOMM INC FORT LAUDERDALE FLA AND ESOFT INC AURORA COLO THE INDUSTRY IS SMALL WITH TOTAL REVENUE OF 20 MILLION FRED CLARK WHO STARTED AND RUNS CLARK DEVELOPMENT SAYS HIS COMPANY HAS 20 TO 25 OF THE MARKET SALES MAINLY TO SMALLER BULLETIN BOARDS HAVE CLIMBED MORE THAN 25 A YEAR SINCE 1986 AND HE NOW HAS 11 EMPLOYEES IS THE COMPANY PROFITABLE WE'RE COMPLETELY SELFFUNDED MR CLARK SAYS NO DEBT WE DON'T OWE MONEY TO A SOUL AND WE HAVE MONEY IN THE BANK BUT I WON'T SAY HOW MUCH ONLINE ACTION ALSO GENERATES BUSINESS FOR LOCAL PHONE COMPANIES LONGDISTANCE CARRIERS SUCH AS AT&T AND MCI COMMUNICATIONS CORP AND DATA NETWORKS SUCH AS SPRINT'S SPRINTNET AND BRITISH TELECOMMUNICATION PLC'S TYMNET YANKEE GROUP ESTIMATES WORLDWIDE REVENUE FOR DATA NETWORKS AT 46 BILLION AND SAYS IT IS GROWING 13 A YEAR VOICE TRAFFIC STILL PAYS THE BILLS BUT DATA IS THE FASTESTGROWING MARKET SAYS DALE WILLIAMS ASSISTANT VICE PRESIDENT OF SPRINT'S DATA BUSINESS THIS DATAMARKET TRAFFIC IS GROWING FOUR TIMES FASTER THAN VOICE THE RISE OF ONLINE COMMUNICATIONS IS EVEN CREATING OPPORTUNITIES IN AN OLDER INFORMATION TECHNOLOGY JACK RICKARD PREVIOUSLY A TECHNICAL WRITER STARTED BOARDWATCH MAGAZINE IN LITTLETON COLO SIX YEARS AGO AS A GUIDE TO ONLINE SERVICES HIS MAGAZINE HAD 150 SUBSCRIBERS IN THE FIRST YEAR NOW IT HAS 14000 AND IT SELLS 54000 COPIES A MONTH ON NEWSSTANDS MR RICKARD WHO DRIVES AN OLD VOLKSWAGEN BUS SAYS HE DOESN'T KNOW HOW MUCH HE MAKES FROM THE MAGAZINE BUT I HAVE A WIFE AND FOUR KIDS AND THEY ALL SEEM TO BE WELL FED THE MAGAZINE RECENTLY ASKED READERS HOW MANY CALLS A MONTH THEY MAKE TO BULLETIN BOARDS MORE THAN 20000 PEOPLE RESPONDED THEIR AVERAGE WAS 62 CALLS A MONTH SAYS MR RICKARD THEY'RE LITERALLY LIVING ONLINE MR KELLER IS A STAFF REPORTER IN THE WALL STREET JOURNAL'S NEW YORK BUREAU 9311150021 931115 WHO'S NEWS GOTTSCHALKS INC GOTTSCHALKS INC FRESNO CALIF STEVE FURST EXECUTIVE VICE PRESIDENT OF THIS DEPARTMENTSTORE CHAIN WAS NAMED PRESIDENT HE SUCCEEDS GERALD BLUM WHO WAS NAMED VICE CHAIRMAN OF THE BOARD 9311150020 931115 DIVIDEND NEWS FIRST CHICAGO CORP FIRST CHICAGO CORP BOOSTED ITS QUARTERLY DIVIDEND 33 AND AUTHORIZED THE REPURCHASE OF UP TO 25 MILLION COMMON SHARES CITING STRONG EARNINGS AND A HEALTHY BALANCE SHEET THE CHICAGO BANKING COMPANY DECLARED A QUARTERLY DIVIDEND OF 40 CENTS A SHARE PAYABLE JAN 1 TO STOCK OF RECORD DEC 3 IT PREVIOUSLY PAID 30 CENTS QUARTERLY THE BUYBACK EQUAL TO ABOUT 29 OF THE SHARES OUTSTANDING WILL BE USED TO MEET REQUIREMENTS FOR EMPLOYEEBENEFIT PLANS 9311150019 931115 WORLD MARKETS EUROPEAN BOURSES' BULL RUN SEEN CONTINUING ON BRIGHTENING PROSPECTS FOR ECONOMIES' GROWTH BY GLENN WHITNEY STAFF REPORTER OF THE WALL STREET JOURNAL LONDON IN THE SPRING THERE WILL BE GROWTH IT'S AN AXIOM EASILY IGNORED AS A COLD WINTER LOOMS IN EUROPE ONE THAT IS LIKELY TO BE MARKED BY RISING UNEMPLOYMENT AND PERHAPS SOCIAL UNREST YET AN INCREASINGLY OPTIMISTIC BAND OF FINANCIAL MARKET STRATEGISTS PREDICTS GROWTH WILL RETURN TO THE RECESSIONRAVAGED ECONOMIES BY NEXT YEAR'S SECOND QUARTER THE WORST IS OVER WE'RE ON THE ROAD TO RECOVERY SAID THORSTEN NEUFELD AN ECONOMIST AT DEUTSCHE BANK IN FRANKFURT THE OUTLOOKS FOR CAPITAL INVESTMENT AND EXPORTS LOOK BETTER NOW THAN THEY'VE LOOKED IN MONTHS THE CHANGE IN SENTIMENT COMES AMID EXPECTATIONS FOR FURTHER INTERESTRATE CUTS LED BY THE GERMAN CENTRAL BANK MOST ANALYSTS CONTINUE TO PREDICT ANOTHER REDUCTION IN KEY GERMAN RATES POSSIBLY AS SOON AS NEXT MONTH STRATEGISTS AT MERRILL LYNCH INTERNATIONAL LTD IN LONDON ARE CONVINCED THAT THE BRIGHTENING PROSPECTS FOR EUROPEAN GROWTH WILL SERVE TO EXTEND EUROPE'S ALREADY EXTRAORDINARY BULL RUN THOUGH MOST MAJOR REGIONAL STOCK INDEXES HAVE DECLINED BETWEEN 4 AND 6 IN LOCAL CURRENCY TERMS IN THE PAST TWO WEEKS IN A LONGAWAITED CORRECTION STOCKS ARE STILL UP ABOUT 38 ON AVERAGE SO FAR THIS YEAR FLYING IN THE FACE OF MANY INVESTORS RECENTLY MIKE YOUNG MERRILL LYNCH'S DIRECTOR OF EUROPEAN STRATEGY SAID EUROPEAN GROWTH IS SET TO ACCELERATE TO LEVELS WELL ABOVE THE PRESENT CONSENSUS DURING 1994 AND 1995 HE BELIEVES THE BEARISH CASE FOR EUROPEAN EQUITIES IS FLAWED THE BASIC THRUST OF THE ARGUMENT APPEARS TO BE THAT THE FLOW OF FUNDS INTO EQUITIES IS ABOUT TO DRY UP EITHER BECAUSE OTHER ASSETS ARE MORE ATTRACTIVE SUCH AS REAL ESTATE OR SHORTTERM US DOLLAR DEPOSITS OR BECAUSE THE GLOBAL RECOVERY IS GOING TO DISAPPOINT AND INVESTORS WILL SWITCH BACK TO BONDS HE SAID THAT'S INCONSISTENT BECAUSE IF THE RECOVERY DOES FAIL RETURNS ON DEBT CERTAINLY WILL BE ATTRACTIVE BUT THIS WOULD NOT AUGUR WELL EITHER FOR CASH OR REAL ASSETS MR YOUNG BELIEVES INTEREST RATES WILL CONTINUE TO FALL IN EUROPE AND AREN'T LIKELY TO RISE ELSEWHERE UNTIL THE END OF 1994 OR PERHAPS AS LATE AS 1995 RETURNS ON CASH WILL NOT ONLY REMAIN UNATTRACTIVE BUT BECOME LESS ATTRACTIVE HE PREDICTED THE STRATEGIST SAID CONTINENTAL EUROPE NOW IS THE ONLY SEGMENT OF THE INDUSTRIALIZED WORLD WHERE INVESTORS CAN GENERALLY EXPECT BOTH A FALL IN SHORTTERM INTEREST RATES OF 15 PERCENTAGE POINTS OVER THE NEXT YEAR AND AN ACCELERATION OF GROWTH RATES WE DO NOT BELIEVE THAT THESE ARE CLOSE TO BEING FULLY DISCOUNTED CONCERNS THAT LIQUIDITY FLOWING INTO EUROPEAN MARKETS IS DRYING UP ARE UNWARRANTED MERRILL LYNCH BELIEVES THE INVESTMENT BANK'S RECENT SURVEYS INDICATE CASH HOLDINGS OF INSTITUTIONAL INVESTORS ARE NEAR NORMAL AVERAGES AND MANY USBASED MUTUAL FUNDS SPECIALIZING IN OVERSEAS INVESTMENTS ARE JUST GETTING STARTED MR YOUNG TOO SAID RECENT CONVERSATIONS WITH US PENSIONFUND MANAGERS SUGGEST THEY HAVE ONLY JUST BEGUN TO INVEST ABROAD INVESTING IN EUROPEAN STOCKS ALSO ENTAILS FOREIGNEXCHANGE CONSIDERATIONS GIVEN THAT THE DOLLAR LOOKS ALMOST CERTAIN TO RISE AGAINST MOST EUROPEAN CURRENCIES OVER THE NEXT 12 MONTHS MERRILL LYNCH SUGGESTED THAT INVESTORS WHO ARE WORRIED ABOUT THE DOLLAR APPRECIATION EFFECTS ON RETURNS FROM NONDOLLAR HOLDINGS SHOULD COMBINE EQUITY STAKES IN EUROPE AND OTHER MARKETS WITH CURRENCY HEDGES SUCH AS OPTIONS AND FORWARD CONTRACTS RATHER THAN ABANDONING ASSETS WHICH WE BELIEVE WILL BE AMONG THE BEST PERFORMING IN LOCAL CURRENCY TERMS ON A GLOBAL BASIS THAT SAID MR YOUNG EXPECTS THE CURRENT UNSETTLED STATE OF EUROPEAN EQUITY MARKETS TO CONTINUE UNTIL YEAR END AS MANY FUND MANAGERS HAVE ALREADY POSTED OUTSTANDING PERFORMANCES THIS YEAR THAT THEY HAVE LITTLE INCENTIVE TO PUT AT RISK TOKYO STOCKS RALLIED 18 FRIDAY WITH ACTIVE BUYING BY JAPANESE DEALERS PUMPING UP BIG PRIVATIZED ISSUES HONG KONG STOCKS SET ANOTHER ALLTIME HIGH AND MEXICAN SHARES ROSE TO A THIRD STRAIGHT RECORD WORLDWIDE STOCK PRICES ROSE IN DOLLAR TERMS THE DOW JONES WORLD STOCK INDEX WAS AT 11211 UP 137 REFLECTING INCREASES IN MARKETS IN ALL REGIONS SECURITIES BROKERS WERE THE TOP GAINERS IN THE DOW JONES WORLD INDUSTRY GROUPS CLOSING AT 13705 UP 425 OR 32 WITH SUN HUNG KAI OF HONG KONG POSTING AN 1135 GAIN IN ITS LOCAL CURRENCY PLANTATION STOCKS TRAILED AT 17159 DOWN 19 OR 11 WITH HIGHLANDS & LOWLANDS OF MALAYSIA SLIDING 278 IN LOCAL CURRENCY IN TOKYO THE NIKKEI 225STOCK INDEX WHICH ROSE 3681 POINTS THURSDAY SURGED 33503 TO 1849355 IN EARLY TRADING MONDAY IN TOKYO THE NIKKEI WAS DOWN 17942 POINTS AT 1831413 FRIDAY'S FIRSTSECTION VOLUME WAS ESTIMATED AT 430 MILLION SHARES UP MARKEDLY FROM 3103 MILLION SHARES A DAY EARLIER BUT BUT MORE THAN A THIRD OF FRIDAY'S ACTIVITY WAS TIED TO SETTLEMENT OF NOVEMBER INDEX OPTIONS AT THE OPENING ADVANCING ISSUES SWAMPED RETREATING ISSUES 947113 THE TOKYO STOCK PRICE INDEX OR TOPIX OF ALL FIRSTSECTION ISSUES WHICH SLIPPED 020 POINT THURSDAY JUMPED 3149 OR 21 TO 156607 ACCELERATING THEIR HALTING REBOUND FROM THE NIKKEI'S 11 LOSS IN THE PAST THREE WEEKS PRICES CLIMBED STEADILY BEFORE WAFFLING IN THE FINAL HOUR OF TRADING CONFIDENCE WAS BOOSTED BY A REVIVAL FOR THE RECENTLY PRIVATIZED EAST JAPAN RAILWAY AND FOR NIPPON TELEGRAPH & TELEPHONE A PREVIOUS GOVERNMENT SELLOFF AS JAPANESE SECURITIES FIRMS LOADED UP ON THE SHARES TO BOOST MARKET SENTIMENT IN ADDITION INSTITUTIONAL INVESTORS WENT BARGAIN HUNTING AND STRONG INDEX FUTURES LED ARBITRAGERS TO PICK UP ISSUES IN THE STOCK MARKET IN HONG KONG SHARES ROSE TO A SECOND RECORD IN A ROW IN A VOLATILE SESSION IN WHICH THE HANG SENG INDEX TRADED AS LOW AS 960090 AND SET AN ALLTIME INTRADAY HIGH OF 972688 THE INDEX GAINED 2642 POINTS TO 970125 ITS FIRST FINISH ABOVE 9700 FOR A GAIN LAST WEEK OF 78 AND FOR THIS YEAR OF 76 IN EARLY TRADING MONDAY HONG KONG SHARES CONTINUED THEIR RISE TO RECORD LEVELS AND THE INDEX WAS AHEAD 9676 POINTS AT 979801 IN SYDNEY STOCKS REBOUNDED 11 LED BY LARGECAPITALIZATION SHARES FOLLOWING SOFTNESS EARLIER IN THE WEEK IN SEOUL STOCKS CLIMBED 1 PACED BY INEXPENSIVE ISSUES IN STRONG DEALINGS BY INSTITUTIONAL AND FOREIGN INVESTORS IN WELLINGTON PRICES REBOUNDED 13 AFTER SEESAWING ALL WEEK BECAUSE OF NEW ZEALAND'S POSTELECTION POLITICAL INSTABILITY IN BANGKOK STOCKS ROSE TO YET ANOTHER RECORD HIGH OF 138084 ON THE SET INDEX UP 958 POINTS THE MARKET HAS GAINED 55 THIS YEAR IN MEXICO CITY THE MARKET RALLIED 25 TO YET ANOTHER NEW CLOSING HIGH ON CONTINUED EXPECTATIONS FOR US PASSAGE OF THE NORTH AMERICAN FREETRADE PACT IN LONDON STOCKS STAGED A LATE RECOVERY MOSTLY ERASING HEAVY MORNING LOSSES ON A TRADING ACCOUNT'S LAST DAY THE FINANCIAL TIMESSTOCK EXCHANGE 100SHARE INDEX EASED 06 POINT TO 30991 THE FT 30STOCK INDEX ROSE 31 POINTS TO 23437 VOLUME WAS 6395 MILLION SHARES COMPARED WITH 7438 MILLION SHARES IN THE PREVIOUS SESSION HERE ARE PRICE TRENDS ON THE WORLD'S MAJOR STOCK MARKETS AS CALCULATED BY MORGAN STANLEY CAPITAL INTERNATIONAL PERSPECTIVE GENEVA TO MAKE THEM DIRECTLY COMPARABLE EACH INDEX CALCULATED IN LOCAL CURRENCIES IS BASED ON THE CLOSE OF 1969 EQUALING 100 THE PERCENTAGE CHANGE IS SINCE YEAREND 9311150018 931115 MARKETING & MEDIA PERELMAN BUYS STAKE IN MAKER OF INFOMERCIALS BY LAURA BIRD STAFF REPORTER OF THE WALL STREET JOURNAL RONALD PERELMAN'S MACANDREWS & FORBES HOLDINGS INC BOUGHT A MINORITY STAKE IN THE INFOMERCIAL COMPANY GUTHYRENKER CORP EXACT TERMS OF THE DEAL WEREN'T DISCLOSED BUT KNOWLEDGEABLE EXECUTIVES SAID MR PERELMAN WHO OWNS COSMETICS MAKER REVLON GROUP PAID MORE THAN 25 MILLION FOR A STAKE OF SLIGHTLY LESS THAN 40 IN THE CLOSELY HELD PRODUCER OF INFOMERCIALS OR PROGRAMLENGTH COMMERCIALS THE MOVE PUTS MR PERELMAN INTO THE GROWING INFOMERCIAL BUSINESS AT A TIME WHEN HE IS KNOWN TO BE ON THE PROWL FOR MEDIA PROPERTIES MACANDREWS & FORBES RECENTLY REVEALED THAT IT INTENDS TO SPEND 1 BILLION OVER THE NEXT TWO YEARS ASSEMBLING A REAL ENTERTAINMENT COMPANY MR PERELMAN OWNS A CONTROLLING INTEREST IN SCI TELEVISION INC THE OWNER OF SEVEN STATIONS MOST OF THEM CBS AFFILIATES IN CITIES INCLUDING BOSTON TAMPA DETROIT AND ATLANTA INDUSTRY EXECUTIVES EXPECT HIM TO BUY MORE IN COMING MONTHS ALTHOUGH FEDERAL RULES WOULD LIMIT SCI TO A TOTAL OF 12 MR PERELMAN'S OTHER HOLDINGS INCLUDE MARVEL ENTERTAINMENT GROUP WHICH PRODUCES MARVEL COMICS FLEER TRADING CARDS AND TOY BIZ TOYS GENESIS ENTERTAINMENT A TELEVISIONSHOW SYNDICATOR AND NEW WORLD ENTERTAINMENT A HOLLYWOOD PRODUCTION COMPANY MR PERELMAN'S ENTRANCE INTO THE INFOMERCIAL WORLD CREATES INTERESTING INTERACTIVESALES POSSIBILITIES MR PERELMAN'S REVLON GROUP HAS ALREADY BEEN EXPERIMENTING WITH INFOMERCIALS IT IS CURRENTLY AIRING A COSMETICS INFOMERCIAL STARRING COUNTRY SINGER DOLLY PARTON GUTHYRENKER DISTRIBUTED THAT EFFORT AND MR PERELMAN'S TV STATIONS COULD FUNCTION AS TESTMARKETING VEHICLES FOR FUTURE INFOMERCIALS AN ARRANGEMENT THAT IS ATTRACTIVE CONSIDERING THAT THE COST OF MEDIA TIME IS RISING AND THAT MORE THAN EIGHT OUT OF 10 NEW INFOMERCIALS FAIL TO MAKE A PROFIT THE LINK WITH TV STATIONS GIVES US THE OPPORTUNITY TO TEST OFFERS AND PROGRAMS BEFORE LAUNCHING THEM TO THE MASS MARKET SAID GREG RENKER COFOUNDER OF GUTHYRENKER GUTHYRENKER BASED IN DESERT PALM CALIF HAD REVENUE LAST YEAR OF 75 MILLION THE COMPANY SAID GUTHYRENKER IS PERHAPS BEST KNOWN FOR ITS INFOMERCIALS STARRING CELEBRITIES INCLUDING PERSONALGROWTH GURU TONY ROBBINS WHOSE INFOMERCIAL HAS GROSSED MORE THAN 120 MILLION THE COMPANY SAYS 9311150017 931115 CANADIAN STEEL OUTPUT RISES OTTAWA CANADIAN PRIMARYSTEEL PRODUCTION TOTALED 284217 METRIC TONS IN THE WEEK ENDED NOV 6 A 99 INCREASE FROM 258611 TONS THE PREVIOUS WEEK AND AN 116 INCREASE FROM 254728 TONS A YEAR EARLIER STATISTICS CANADA A GOVERNMENT AGENCY SAID A METRIC TON IS EQUAL TO 220462 POUNDS FOR THE YEAR TO DATE PRODUCTION TOTALED 12123446 TONS A 41 INCREASE FROM 11646670 TONS A YEAR EARLIER 9311150016 931115 INTERNATIONAL BRITISH AEROSPACE DENIES TAIWANESE TALKS ENDED SPECIAL TO THE WALL STREET JOURNAL LONDON A SPOKESWOMAN FOR BRITISH AEROSPACE PLC DENIED REPORTS FROM TAIWAN SAYING ITS NEGOTIATIONS WITH TAIWAN AEROSPACE CORP ON A JET AIRCRAFT AGREEMENT HAVE ENDED WE ARE STILL IN CONTACT WITH TAIWAN AEROSPACE THIS IS THE FIRST WE HAVE HEARD ABOUT THE COLLAPSE OF THE PROPOSED 11 BILLION PROJECT THE SPOKESWOMAN SAID FRIDAY TAIWAN AEROSPACE CHAIRMAN EARLE HO TOLD REPORTERS IN TAIPEI THAT THE DIFFERENCES BETWEEN THE TWO PARTIES ARE TOO BIG TO BE NARROWED MR HO WAS QUOTED AS SAYING TAIWAN AEROSPACE IS NOW LOOKING FOR A NEW PARTNER THE BRITISH AEROSPACE SPOKESWOMAN CONCEDED THAT BOTH SIDES ARE REVIEWING THE SITUATION AT THE MOMENT BUT SHE ADDED THAT NO DECISION CAN BE EXPECTED UNTIL AFTER THE TAIWANESE ELECTIONS AT THE END OF NOVEMBER INDUSTRY OBSERVERS SAID THE FEELING AMONG INVESTORS IS THAT THE PROJECT WITH TAIWAN CAN NO LONGER BE SALVAGED 9311150014 931115 LETTERS TO THE EDITOR FELINE GOURMAND THIS IS APROPOS OF YOUR PAGEONE ARTICLE OCT 27 ON VEGETARIAN PETS I GAVE UP EATING MEAT A FEW YEARS AGO BUT HAVE NEVER ATTEMPTED TO IMPOSE MY DIET REGIMEN ON CHEETAH MY CAT BECAUSE SHE IS AFTER ALL A CARNIVORE OR IS SHE WHILE HER DIET FOR THE MOST PART CONSISTS OF SUCH GOODIES AS TENDER VITTLES AND MEOW MIX SHE HOWLS WHENEVER I'M COOKING PASTA UNTIL I HAVE NO CHOICE BUT TO RELENT AND GIVE HER A PORTION SHE CRAVES CORN AND BROCCOLI THE WAY SOME PEOPLE CRAVE TRUFFLES SHE DEMANDS PEANUTS WHEN I'M PUTTING THEM OUT FOR OUR SQUIRREL VISITOR AND LATELY I'VE NOTICED HER FILCHING GRASS PELLETS FROM MY RABBIT'S FOOD BOWL WHEN HE'S NOT LOOKING 9311150013 931115 TEACHERS FUND REJECTS BID TO SLASH ITS STAFF'S PAY SAN FRANCISCO A PENSIONER'S PROPOSAL URGING THE TIAACREF PENSION FUND TO SLASH ITS OWN ADMINISTRATIVE SALARIES FAILED BUT IT DREW A CONSIDERABLE 319 OF VOTES THE PROPOSAL WAS REJECTED BY 549 OF VOTERS ACCORDING TO A TALLY DISCLOSED FRIDAY AT THE ANNUAL POLICYHOLDER MEETING OF THE TEACHERS INSURANCE AND ANNUITY ASSOCIATIONCOLLEGE RETIREMENT EQUITIES FUND THE WORLD'S LARGEST PENSION FUND THE PROPOSAL'S SPONSOR HOLDER WERNER COHN ARGUED THAT THE FUND SHOULD PAY EXECUTIVES ON A PAR WITH PROFESSIONALS IN GOVERNMENT AND ACADEMIA WHILE THE FUND ARGUED THAT IT COMPETES FOR PEOPLE IN THE INVESTMENTBANKING AND INSURANCE WORLDS OVER THE PAST TWO YEARS TIAACREF'S CHAIRMAN EARNED MORE THAN 12 MILLION ANNUALLY IN SALARY AND BONUS THE OTHER 132 OF THE VOTES WERE ABSTENTIONS 9311150012 931115 NISSAN MOTOR TO URGE 4600 WORKERS TO QUIT AT UK UNIT AMID SALES SLUMP BY NICHOLAS BRAY STAFF REPORTER OF THE WALL STREET JOURNAL LONDON NISSAN MOTOR CO IS TO SEEK VOLUNTARY DEPARTURES AMONG THE 4600 WORKERS AT ITS BRITISH AUTO MANUFACTURING UNIT IN THE FACE OF A WIDESPREAD SLUMP IN CAR SALES ACROSS CONTINENTAL EUROPE NEARLY A DECADE AGO ITS PROMISE OF JOBS FOR LIFE IN RETURN FOR LABOR PEACE AT ITS SUNDERLAND PLANT IN NORTHERN ENGLAND WAS HAILED AS A BREAKTHROUGH IN UK MANAGEMENT AND WORKER RELATIONS NISSAN SAID IT NEEDS WORK FORCE CUTS TO KEEP PACE WITH A SEVERE DOWNTURN IN THE CONTINENTAL EUROPEAN CAR MARKET WHILE BRITAIN'S CAR MARKET HAS REVIVED AFTER TWO YEARS OF DEPRESSION WITH SALES FOR ALL MANUFACTURERS UP BY AROUND 12 SO FAR THIS YEAR SALES IN CONTINENTAL EUROPE HAVE FALLEN AROUND 15 CAR SALES IN SPAIN HAVE BEEN PARTICULARLY HARD HIT FALLING 26 BETWEEN JANUARY AND MIDOCTOBER IN ITALY SALES FELL 23 OVER THE PERIOD IN GERMANY 20 AND IN FRANCE 17 ABOUT 75 OF PRODUCTION AT NISSAN'S SUNDERLAND PLANT WHICH PRODUCES MICRA AND PRIMERA CARS HAD TRADITIONALLY BEEN DESTINED FOR EXPORT TO COPE WITH FALLING DEMAND THE PLANT STOPPED HIRING NEW WORKERS EARLIER THIS YEAR TO REPLACE THE 4 A YEAR WHO LEAVE OR RETIRE EARLIER THIS MONTH IT ANNOUNCED A SUSPENSION OF NIGHT SHIFTS PUTTING PRODUCTION WORKERS ON DAY SHIFTS ON ALTERNATE WEEKS BUT WITHOUT ANY LOSS IN BASIC PAY NOW UNDER A SOCALLED AGREED SEVERANCE PLAN NEGOTIATED WITH UNION LEADERS LAST WEEK WORKERS AT THE SUNDERLAND FACTORY ARE TO BE OFFERED THE EQUIVALENT OF SIX MONTHS' SALARY AS AN INCENTIVE TO QUIT PRODUCTION TARGETS HAVE BEEN LOWERED TO 246000 CARS FROM AN EARLIER PLANNED 270000 THE FACTORY EXPECTS TO BUILD BETWEEN 200000 AND 240000 CARS NEXT YEAR IN A BID TO PRESERVE THE CENTRAL ETHOS OF ITS BRITISHBASED EXPERIMENT IN JAPANESESTYLE LABOR RELATIONS NONETHELESS NISSAN PLEDGED NOT TO FIRE ANYONE AGAINST THEIR WILL IF NO ONE APPLIED FOR THE PACKAGE IT SAID THERE WOULD BE NO COMPULSORY REDUNDANCIES IAN GIBSON NISSAN'S MANAGING DIRECTOR IN THE UK SAID JOB SECURITY REMAINED NISSAN'S CHIEF PRIORITY HE CLAIMED THAT THE PACKAGE WAS A MILESTONE FOR EMPLOYEE RELATIONS IN THE UK IF YOU WANT A JOB YOU HAVE IT HE SAID WE HAVE BEEN ABLE TO OFFER EMPLOYEES A CHANCE TO MAKE A NEW START IN THEIR WORKING LIVES SHOULD THEY CHOOSE WITHOUT VOLUNTEERS FOR THE SEVERANCE PACKAGE HOWEVER NISSAN MAY HAVE TO SEEK ALTERNATIVE MEASURES SUCH AS ACROSSTHEBOARD PAY CUTS OR EARLY RETIREMENT THE LATTER WOULD BE HARD TO IMPLEMENT AS THE PLANT HAS A RELATIVELY YOUNG WORK FORCE WHEN IT SET UP IN SUNDERLAND IN THE MID1980S NISSAN WON PRAISE FROM THE AMALGAMATED ENGINEERING AND ELECTRICAL UNION WHICH SIGNED A SINGLE UNION DEAL IN RETURN FOR JOB SECURITY BILL MORGAN CHIEF UNION NEGOTIATOR AT NISSAN SAID THE VOLUNTARY SEVERANCE PLAN WAS A BITTER BLOW BUT HE ADDED THAT NO ONE COULD HAVE PREDICTED THE DEPTH OF THE EUROPEAN RECESSION EVEN NISSAN HAS TO FACE THE STARK FACTS OF LIFE HOWEVER THE COMPANY CONTINUES TO GUARANTEE NO COMPULSORY REDUNDANCIES WHICH IS CENTRAL TO OUR AGREEMENT WITH THEM HE SAID OTHER UK AUTO MANUFACTURERS HAVE ALSO BEEN HIT BY THE SLOWDOWN IN CONTINENTAL EUROPEAN CAR SALES FORD MOTOR CO'S UK UNIT THE BIGGEST CAR PRODUCER IN BRITAIN EXPECTS TO CUT ITS OUTPUT LEVELS THIS YEAR TO BELOW 390000 FROM 447400 LAST YEAR OUTPUT AT FORD'S DAGENHAM PLANT WHERE THE FIESTA IS MADE WAS DOWN 28 FOR THE FIRST NINE MONTHS OF 1993 WHILE AT HALEWOOD HOME OF THE ESCORT PRODUCTION WAS DOWN 14 THREEDAY WEEKS HAVE BEEN INTRODUCED AT HALEWOOD AND AT FORD'S SOUTHAMPTON PLANT WHICH PRODUCES TRANSIT VANS LAST YEAR ABOUT 36 OF FORD'S OUTPUT WAS EXPORTED THIS YEAR BY CONTRAST COMPANY OFFICIALS SAY THEY EXPECT THE PROPORTION TO FALL TO BETWEEN 20 AND 22 WE EXPECT THE UK NEW SALES MARKET TO BE ABOUT 200000 UP THIS YEAR BUT THE OVERALL EUROPEAN MARKET WILL BE ABOUT 22 MILLION DOWN AND THIS IS HAVING A BIG EFFECT A FORD SPOKESMAN TOLD THE PRESS ASSOCIATION BRITAIN'S DOMESTIC NEWS AGENCY AT GENERAL MOTORS CORP'S VAUXHALL UNIT MEANWHILE PRODUCTION SO FAR THIS YEAR IS 16 DOWN ON LAST YEAR'S LEVELS AT PEUGEOT PSA'S COVENTRY PLANT OUTPUT HAS BEEN REDUCED FROM 1900 VEHICLES A WEEK TO 1600 TO KEEP PACE WITH LOWER SALES IN CONTINENTAL EUROPE 9311150010 931115 BUSINESS BRIEF RENAULT SA CAR MAKER MAY TRIM STAKE IN COLOMBIAN UNIT SOFASA RENAULT SA CONFIRMED A FRENCH NEWSPAPER REPORT THAT IT IS THINKING ABOUT REDUCING ITS EXPOSURE IN COLOMBIA IN LINE WITH THE STATEOWNED GROUP'S GENERAL STRATEGY IN LATIN AMERICA OFFICIALS STRESSED HOWEVER THAT NO DECISION HAS BEEN MADE ON TRIMMING ITS STAKE IN ITS COLOMBIAN SUBSIDIARY ACCORDING TO THE REPORT IN THE BUSINESS NEWSPAPER LES ECHOS RENAULT INTENDS TO ALLOW SANTO DOMINGO ONE OF COLOMBIA'S BIGGEST CORPORATIONS TO ACQUIRE A 51 CONTROLLING INTEREST IN THE FRENCH GROUP'S COLOMBIAN SUBSIDIARY SOFASA BY REDUCING ITS CURRENT 75 SHAREHOLDING TO 24 SOFASA'S OTHER SHAREHOLDERS ARE JAPAN'S TOYOTA MOTOR CO WITH 175 AND MITSUI CO WITH A 75 STAKE A SPOKESMAN FOR THE FRENCH CAR MAKER WOULDN'T CONFIRM THESE DETAILS HOWEVER HE EXPLAINED THAT THE GROUP WANTS TO REDUCE ITS EXPOSURE IN COUNTRIES THAT HAVE UNSTABLE ECONOMIES 9311150009 931115 BUSINESS BRIEF SOUTHERN NEW ENGLAND TELECOM STAFFING CUTS COULD AFFECT UP TO 14 OF WORK FORCE SOUTHERN NEW ENGLAND TELECOMMUNICATIONS CORP SAID IT WILL LAY OFF 400 TO 700 MANAGERS AND 500 TO 800 UNION EMPLOYEES BEGINNING IN JANUARY SNET A TELECOMMUNICATIONS CONCERN CURRENTLY EMPLOYS 3600 MANAGERS AND 7000 UNION WORKERS SO THE LAYOFFS COULD AFFECT AS MUCH AS 14 OF THE COMPANY'S WORK FORCE SNET OF NEW HAVEN CONN SAID THE LAYOFFS WERE NECESSITATED BY LOSSES STEMMING FROM STIFFER COMPETITION AND TECHNOLOGICAL EFFICIENCIES THAT MADE THE COMPANY LESS LABORINTENSIVE 9311150008 931115 LETTERS TO THE EDITOR MASTER CRITTER LIST MAKES GOOD SENSE I CAN SAY WITHOUT HESITATION THAT I NEVER MADE THE STATEMENT ATTRIBUTED TO ME IN YOUR OCT 20 EDITORIAL PAGE IN THE ASIDE LORDS OF THE FLIES THAT THE PROPOSED NATIONAL BIOLOGICAL SURVEY WOULD DETERMINE DEVELOPMENT FOR THE WHOLE COUNTRY AND REGULATE IT ALL IT IS A DISTORTION OF REMARKS I MADE AT A CONFERENCE THIS SPRING WHAT I DID DISCUSS IS THE NEED FOR BETTER BIOLOGICAL INFORMATION BOTH AS A SOURCE OF NEW ECONOMIC GROWTH AN EXCEEDINGLY IMPORTANT ONE AND TO HELP AVOID SOME OF THE WRENCHING ECONOMIC AND ECOLOGICAL DISLOCATIONS THAT OCCUR WHEN WE FIND OUT ABOUT CONSERVATION PROBLEMS TOO LATE BETTER INFORMATION WHICH THE NATIONAL BIOLOGICAL SURVEY CAN PROVIDE ENABLES GOVERNMENT AND PRIVATE DECISIONMAKERS TO RESPOND BEFORE CONDITIONS DETERIORATE AND FLEXIBILITY IS LESSENED SUCH EARLY SOLUTIONS CAN HELP REDUCE THE NEED FOR REGULATORY CONTROLS THIS IS QUITE DIFFERENT FROM BOTH THE SPIRIT AND THE LETTER OF THE STATEMENT ATTRIBUTED TO ME 9311150007 931115 CANADIAN BANKRUPTCIES DECLINE OTTAWA CANADIAN BANKRUPTCIES TOTALED 5349 IN SEPTEMBER A 163 DECLINE FROM 6391 A YEAR EARLIER THE CONSUMER AND CORPORATE AFFAIRS DEPARTMENT SAID FOR THE FIRST NINE MONTHS OF 1993 BANKRUPTCIES TOTALED 50611 A 126 DECLINE FROM 57937 A YEAR EARLIER 9311150006 931115 TECHNOLOGY SYMTEK SYSTEMS PLANS TO SELL AT LEAST 2 MILLION IN STOCK SAN DIEGO SYMTEK SYSTEMS INC SAID IT AGREED TO SELL AT LEAST 2 MILLION IN STOCK IN A PRIVATE PLACEMENT EXPECTED TO EASE ITS CASH CRUNCH THE MAKER OF AUTOMATED EQUIPMENT FOR INTEGRATEDCIRCUIT TESTING ALSO SAID IT TERMINATED MERGER TALKS WITH ASECO CORP IN AUGUST SYMTEK SAID THAT IT HAD SIGNED A MEMORANDUM OF UNDERSTANDING WITH ASECO MARLBORO MASS UNDER WHICH THE TWO COMPANIES WERE TO MERGE THROUGH A STOCK SWAP LOWELL W GIFFHORN VICE PRESIDENT FINANCE OF SYMTEK SAID THE COMPANY'S NEW AGREEMENT WITH PRIVATE INVESTORS WHO WEREN'T IDENTIFIED CALLS FOR AN INITIAL SALE OF 275000 SHARES OF STOCK FOR 1 MILLION THE SALE AT AN INDICATED PRICE OF ABOUT 364 A SHARE IS EXPECTED TO BE COMPLETED THIS WEEK MR GIFFHORN SAID THE INITIAL STOCK PURCHASE WOULD BRING THE INVESTORS A 178 STAKE IN THE COMPANY BASED ON ABOUT 155 MILLION SHARES OUTSTANDING BEFORE THE TRANSACTION A SECOND SALE OF 1 MILLION IN STOCK AT A PRICE BASED ON MARKET PERFORMANCE OF THE STOCK IS EXPECTED IN ABOUT 90 DAYS MR GIFFHORN SAID AFTER COMPLETION OF THE 2 MILLION IN PLACEMENTS THE INVESTORS WOULD ALSO ACQUIRE STOCK WARRANTS EXERCISABLE AT PRICES BETWEEN 250 AND 750 A SHARE SYMTEK SAID THAT IF EXERCISED IN FULL THE WARRANTS WOULD BRING THE UNNAMED INVESTORS' TOTAL INVESTMENT IN THE COMPANY TO ABOUT 5 MILLION AND THE STAKE TO ABOUT 30 AS PREVIOUSLY REPORTED SYMTEK RECENTLY DISCLOSED A RESTATEMENT SHARPLY WIDENING ITS EARLIERREPORTED FISCAL 1993 LOSS AND AN AUDITOR'S LETTER QUESTIONING THE COMPANY'S STATUS AS A GOING CONCERN THE COMPANY ALSO DISCLOSED AT THE TIME A 9 MILLION JUDGMENT AGAINST IT IN FEDERAL COURT IN MASSACHUSETTS 9311150005 931115 ECONOMY WHITE HOUSE SAYS APPROVAL OF NAFTA IS NEAR KANTOR IN UPBEAT OUTLOOK SAYS A DOZEN MORE VOTES ARE NEEDED FOR PASSAGE BY JEFFREY H BIRNBAUM STAFF REPORTER OF THE WALL STREET JOURNAL WASHINGTON THE CLINTON ADMINISTRATION GAVE ITS MOST UPBEAT ASSESSMENT TO DATE FOR THE NORTH AMERICAN FREE TRADE AGREEMENT ASSERTING THAT ONLY ABOUT A DOZEN MORE VOTES ARE NEEDED FOR THE ACCORD TO PASS IN THE HOUSE THIS WEEK IN AN APPEARANCE YESTERDAY ON NBCTV'S MEET THE PRESS US TRADE REPRESENTATIVE MICKEY KANTOR ACKNOWLEDGING THE VOTE DEFICIT SAID THAT APPROVAL WAS WITHIN STRIKING DISTANCE AND HE PREDICTED THAT WHEN THE VOTE IS TAKEN WEDNESDAY WE'LL WIN BUT ON THE SAME TELEVISION SHOW REP DAVID BONIOR A LEADING NAFTA OPPONENT CONTENDED THAT HE ALREADY HAS A NARROW MAJORITY OF HOUSE MEMBERS WHO PLAN TO VOTE AGAINST THE PACT 222 LAWMAKERS FOUR MORE THAN THE 218 NEEDED TO DEFEAT IT THE MICHIGAN DEMOCRAT SAID HE EXPECTS TO HOLD THAT LEAD GOING INTO THE VOTE THE WILD CARD APPEARS TO BE THE NUMBER OF HOUSE REPUBLICANS WHO WILL VOTE FOR THE PACT DEMOCRATIC NAFTA BACKERS ARE UNDER THE IMPRESSION THAT DEMOCRATS HAVE AGREED TO PRODUCE ABOUT 100 VOTES FOR THE AGREEMENT AND THAT THE REPUBLICANS WILL PRODUCE AT LEAST 120 VOTES BUT REPUBLICAN WHIP NEWT GINGRICH R GA HAS NEVER PROMISED MORE THAN 110 VOTES AND WITH ONLY A FEW DAYS LEFT REPUBLICANS CLAIM THAT THEY NOW HAVE ONLY A HANDFUL OR SO VOTES OVER 100 THEY ALSO FEAR THAT THEY CAN'T OBTAIN TOO MANY MORE VOTES THAN THE 110 PROMISED BY MR GINGRICH LAWMAKERS EXPECT THAT PLEDGE FROM THE WHITE HOUSE TO BE PUT IN WRITING PRIOR TO THE VOTE NO MATTER WHAT THE EARLY COUNT TWO THINGS ARE CLEAR THE PRONAFTA SIDE IS STILL SHORT OF THE VOTES IT NEEDS TO WIN AND UNTIL THE VOTE ITSELF IT WILL BE CLOSE AT THE MOMENT IT IS PROBABLY TOO CLOSE TO CALL THOUGH THE ADVOCATES APPEAR TO HAVE GAINED MOMENTUM THE ANTINAFTA FORCES SEEM TO BE INCREASINGLY CAUTIOUS YESTERDAY MAJORITY LEADER RICHARD GEPHARDT D MO DECLINED TO EMBRACE THE VOTE COUNT OF REP BONIOR WHO IS HIS ANTINAFTA ALLY INSTEAD REP GEPHARDT SAID NO ONE CAN KNOW WHAT THE VOTE WILL BE UNTIL IT OCCURS AT THE MOMENT HE ADDED THERE ARE MORE VOTES AGAINST IT THAN FOR IT BUT IT'S CLOSE ORGANIZED LABOR AND OTHER ANTINAFTA FORCES BESIEGED UNDECIDED LAWMAKERS OVER THE LONG VETERANS DAY WEEKEND THE UNDECIDED MEMBERS OF CONGRESS STILL HOLD THE BALANCE MR GORE SAID THIS WEEK THE PRESIDENT WILL INTENSIFY HIS OWN EFFORTS TO PROMOTE NAFTA HE HELD A DINNER AT THE WHITE HOUSE YESTERDAY WITH ABOUT 50 LAWMAKERS OF BOTH PARTIES WHO WERE CONSIDERED ON THE FENCE TOMORROW HE WILL APPEAR WITH 13 GOVERNORS WHO FAVOR THE ACCORD AND HE WILL SPEND MUCH OF THE REST OF HIS TIME IN MEETINGS AND MAKING TELEPHONE CALLS AND SPEECHES AIDES SAID EVEN SUPPORTERS OF THE PRESIDENT ARE HAVING SECOND THOUGHTS ABOUT THE MANY DEALS HE HAS CUT TO WIN VOTES WITH SPECIFIC INDUSTRIES ON MEET THE PRESS SEN BILL BRADLEY ADMITTED IT BOTHERS ME SOME BUT REVIVING AN ARGUMENT THE PRESIDENT HAS USED FOR OTHER ISSUES THE NEW JERSEY DEMOCRAT SAID TO DEFEAT NAFTA ENDANGERS THIS PRESIDENCY 9311150004 931115 UMBERTO AGNELLI WILL LEAVE BOARD OF FIAT TO HEAD IFI SPECIAL TO THE WALL STREET JOURNAL MILAN UMBERTO AGNELLI WILL STEP DOWN FROM THE BOARD OF FIAT SPA AND BECOME MANAGING DIRECTOR OF ISTITUTO FINANZIARIO INDUSTRIALE SPA A KEY HOLDING COMPANY OF ITALY'S POWERFUL AGNELLI FAMILY HE ALREADY IS CHAIRMAN OF IFIL FINANZIARIA DI PARTICIPAZIONE SPA ANOTHER AGNELLI FAMILY HOLDING COMPANY THE CHANGES SIGNAL A REDISTRIBUTION OF ROLES BETWEEN UMBERTO AGNELLI AND HIS BROTHER GIOVANNI WHILE GIOVANNI IS SEEN AS HAVING THE TASK OF TURNING AROUND THE SLUMPING CAR OPERATION UMBERTO IS NOW CHARGED WITH DEVELOPING THE FINANCIAL INTERESTS OF IFI AND IFIL WHICH TOGETHER HOLD 30 OF FIAT THIS GIVES HIM CONTROL OF ALL OF FIAT'S INDUSTRIAL AND FINANCIAL BUSINESSES BEYOND THE CAR AND VEHICLE OPERATIONS AT THE SAME TIME UMBERTO'S SON GIOVANNI AGNELLI WILL TAKE HIS FATHER'S PLACE ON THE FIAT BOARD GIOVANNI AGNELLI IS THE NEPHEW OF THE CHAIRMAN OF FIAT ALSO NAMED GIOVANNI AGNELLI THE NEPHEW'S APPOINTMENT TO THE BOARD IS SEEN BY MANY AS A MOVE TOWARD GROOMING HIM TO SUCCEED HIS UNCLE AS CHAIRMAN OF FIAT HE IS THE FOURTH GENERATION OF THE AGNELLI FAMILY TO SIT ON THE FIAT BOARD THE NEWS WAS RELEASED UNEXPECTEDLY FRIDAY BECAUSE AN ITALIAN NEWS MAGAZINE WAS DUE TO PUBLISH THE MANAGEMENT CHANGES AHEAD OF A MEETING THAT HAD BEEN CALLED FOR TODAY IN TURIN WHERE FIAT IS BASED SINCE 1968 UMBERTO AGNELLI HAS BEEN RESPONSIBLE FOR THE DEVELOPMENT AND COORDINATION OF FIAT'S INDUSTRIAL AND COMMERCIAL ACTIVITIES AROUND THE WORLD UMBERTO'S SON GIOVANNI CURRENTLY IS CHAIRMAN AND MANAGING DIRECTOR OF GRUPPO PIAGGIO VEICOLI EUROPEI SPA AN ITALIAN MAKER OF MOTOR SCOOTERS 9311150003 931115 PEOPLE PATTERNS BY ALAN L OTTEN PRISONS ARE BULGING NOT BECAUSE OF MORE CRIMINAL ACTIVITY BUT BECAUSE OF MORE ARRESTS AND TOUGHER SENTENCING UNIVERSITY OF MICHIGAN ECONOMISTS JOHN BOUND AND SCOTT BOGGESS ANALYZED TWO MAJOR JUSTICE DEPARTMENT CRIME REPORTS THEY FOUND THAT THE UNIFORM CRIME REPORTS' CRIME INDEX COVERING MAJOR CRIMES RANGING FROM LARCENY TO MURDER INCREASED ONLY 7 BETWEEN 1979 AND 1991 WHILE THE DEPARTMENT'S TWICEAYEAR NATIONAL CRIME SURVEY SHOWED RATES FALLING 27 FOR CRIMES AGAINST PEOPLE AND 31 FOR THOSE INVOLVING PROPERTY AT THE SAME TIME THE NUMBER OF MEN AND WOMEN SERVING TERMS OF MORE THAN ONE YEAR IN FEDERAL AND STATE PRISONS INCREASED 126 TWO MAIN EXPLANATIONS ARE OFFERED FOR THIS APPARENT PARADOX ONE IS A DRAMATIC INCREASE IN ARRESTS FOR DRUGLAW VIOLATIONS THESE ARRESTS AREN'T REFLECTED IN THE JUSTICE DEPARTMENT FIGURES BECAUSE NEITHER REPORT INCLUDES VICTIMLESS CRIMES EVEN MORE TO THE POINT HOWEVER IS THE FINDING THAT IN ALL CRIME CATEGORIES INCLUDING DRUGS THOSE MEN AND WOMEN WHO WERE ARRESTED WERE FAR MORE LIKELY TO BE GIVEN PRISON TERMS THE ANALYSIS CALCULATES THAT MORE THAN FOURFIFTHS OF THE OVERALL GROWTH IN INCARCERATIONS WAS DUE TO THIS GREATER LIKELIHOOD RATHER THAN TO THE INCREASE IN ARRESTS THE TWO ECONOMISTS SAY THEY COULD LOCATE NO EVIDENCE TO SUPPORT ANOTHER POSSIBLE EXPLANATION THAT LONGER SENTENCES ARE ALSO SWELLING THE PRISON POPULATION SURVEYS OF STATE AND FEDERAL COURTS SHOWED ALMOST NO CHANGE OR EVEN DECREASES IN THE LENGTH OF SENTENCES DURING THE 1980S THEY DECLARE THE VETERAN POPULATION GROWS MORE DIVERSE THE 1990 CENSUS SHOWS 272 MILLION VETERANS A 47 DROP FROM 1980 VETERANS ADMINISTRATION STATISTICIANS ROBERT KLEIN AND STEPHEN SCHWARTZ SAY VETERANS NOW COMPRISE ONETHIRD OF THE ADULT POPULATION DOWN FROM ABOUT 40 10 YEARS EARLIER IN 1990 WORLD WAR II VETERANS STILL WERE THE LARGEST GROUP ABOUT 92 MILLION OR ROUGHLY ONE OUT OF THREE VETERANS BUT VIETNAMERA VETS WERE A CLOSE SECOND WITH 82 MILLION THE NUMBER OF WHITE VETERANS DECLINED BY 6 DURING THE DECADE BUT THE NUMBER OF BLACK AND HISPANIC VETERANS INCREASED 6 AND 35 RESPECTIVELY BLACKS AND HISPANICS HAVE BEEN MAKING UP A GREATER PROPORTION OF THE MILITARY IN RECENT YEARS AND MILITARY SEPARATIONS HAVE BEGUN TO REFLECT THIS IN 1990 WHITES ACCOUNTED FOR ALMOST 89 OF THE TOTAL VETERAN POPULATION BLACKS 86 AND HISPANICS 34 THERE WERE ABOUT 11 MILLION FEMALE VETERANS OR 4 OF THE TOTAL 1990 VETERAN POPULATION JUST ABOUT THE 1980 PROPORTION FEMALE VETERANS INCLUDE LARGER PERCENTAGES OF MINORITYGROUP MEMBERS THAN DO MALE VETERANS AND ON AVERAGE ALSO TEND TO BE YOUNGER VETERANS ARE A FAIRLY WELLEDUCATED GROUP ALMOST 80 OF MALE VETERANS AND 89 OF FEMALE VETERANS HAVE AT LEAST A HIGHSCHOOL EDUCATION BY CONTRAST ONLY 74 OF THE NONVETERAN MALE POPULATION 20 YEARS AND OVER AND 76 OF THE NONVETERAN FEMALES 20 AND OVER HAVE A HIGHSCHOOL DEGREE OR BETTER SINCE THE VETERAN POPULATION IS OLDER AND INCLUDES MORE RETIREES THAN THE NONVETERAN POPULATION ITS LABORFORCE PARTICIPATION RATES ARE LOWER HOWEVER JUST BECAUSE IT IS OLDER AND HAS BEEN IN THE LABOR MARKET LONGER IT TENDS TO HAVE CONSIDERABLY HIGHER INCOMES ON AVERAGE MEDIAN INCOME FOR MALE VETERANS IN 1990 WAS 24630 COMPARED WITH 12414 FOR NONVETERAN MALES 20 AND OVER FEMALE VETERANS HAD A MEDIAN INCOME OF 12598 COMPARED WITH 9024 FOR NONVETERANS INCREASINGLY WOMEN ARE MOVING INTO PROFESSIONS HISTORICALLY DOMINATED BY MEN DURING THE 1980S WOMEN BECAME THE MAJORITY IN THE PROFESSIONAL WORK FORCE DEMOGRAPHERS KELVIN POLLARD AND STEPHEN TORDELLA NOTE IN A STUDY FOR THE POPULATION REFERENCE BUREAU A WASHINGTONBASED NONPROFIT RESEARCH GROUP IN 1990 WOMEN ACCOUNTED FOR 55 OF THE CENSUS BUREAU CATEGORY PROFESSIONAL AND SPECIALTY OCCUPATIONS COMPARED WITH 48 IN 1980 THEIR GROWTH RATE DURING THE DECADE WAS MORE THAN DOUBLE THAT FOR MEN ALMOST TWOTHIRDS OF THAT TOTAL THE TWO DEMOGRAPHERS CONCEDE WERE IN TRADITIONALLY FEMALE FIELDS SUCH AS TEACHING NURSING AND SOCIAL WORK AT THE SAME TIME HOWEVER THERE WERE STRIKING GAINS IN SUCH OTHER PROFESSIONS AS LAW AND MEDICINE THE NUMBER OF WOMEN LAWYERS MORE THAN TRIPLED DURING THE 1980S BY 1990 ONE IN FOUR LAWYERS WAS A WOMAN COMPARED WITH ONE IN EIGHT IN 1980 THERE WERE TWICE AS MANY WOMEN DOCTORS GOING TO ONE IN FIVE FROM ONE IN EIGHT AND MORE THAN THREE TIMES AS MANY WOMEN DENTISTS RISING TO ONE IN EIGHT FROM ONE IN 20 THE CHANGE IS BOUND TO CONTINUE AS WOMEN STEADILY INCREASE THEIR REPRESENTATION IN PROFESSIONAL SCHOOLS THE STUDY DISCLOSES THAT YOUNGER WOMEN THOSE 25 TO 44 HAVE BEEN LARGELY RESPONSIBLE FOR THE GROWTH IN WOMEN PROFESSIONALS ONE IN THREE YOUNG LAWYERS IS FEMALE ONE IN FOUR YOUNG DOCTORS AND ONE IN FIVE YOUNG DENTISTS THE TREND IS PARTICULARLY STRONG AMONG MINORITY GROUPS THE REPORT STATES FOR EXAMPLE WOMEN ACCOUNT FOR 52 OF YOUNG BLACK LAWYERS 42 OF YOUNG BLACK DOCTORS AND 44 OF YOUNG BLACK DENTISTS WOMEN BEAR PAIN BETTER THAN MEN ACCORDING TO MORE THAN TWOTHIRDS OF A NATIONAL SAMPLE SURVEYED BY THE MAYDAY FUND A SMALL FOUNDATION TRYING TO FIND WAYS TO HELP PEOPLE COPE WITH PAIN ABOUT 85 OF THE FEMALE RESPONDENTS BELIEVE THIS AND ABOUT 64 OF THE MALES POOR PEOPLE IN URBAN AREAS ARE FAR MORE APT TO USE FOOD STAMPS THAN THOSE IN RURAL AREAS MARK RANK OF WASHINGTON UNIVERSITY AND THOMAS HIRSCHL OF CORNELL REPORT THE REASON THEY ARE MORE FAMILIAR WITH THE ELIGIBILITY RULES AND LESS INCLINED TO HAVE NEGATIVE ATTITUDES ABOUT USING WELFARE NONVETERAN MALES AGE 20 AND OVER HAD A MEDIAN INCOME OF 19548 IN 1990 IN YESTERDAY'S PEOPLE PATTERNS COLUMN AN ITEM ON THE DIVERSITY OF THE VETERAN POPULATION MISSTATED THE INCOME AS 12414 9311150002 931115 SPAIN'S TABACALERA SA GROUP PRETAX PROFIT FELL IN FIRST 9 MONTHS SPECIAL TO THE WALL STREET JOURNAL MADRID SPAIN'S STATERUN TOBACCO MONOPOLY TABACALERA SA SAID ITS CONSOLIDATED PRETAX PROFIT FELL 61 IN THE FIRST NINE MONTHS TO 64 BILLION PESETAS 472 MILLION FROM A YEAREARLIER 1626 BILLION PESETAS TOTAL REVENUE FELL 73 TO 4563 BILLION PESETAS FROM A YEAREARLIER 49225 BILLION PESETAS TABACALERA SAID THE REVENUE DECLINE RESULTS IN PART FROM ITS EXCLUSION OF INCOME FROM GRUPO ROYAL BRANDS FROM ITS CONSOLIDATEDEARNINGS FIGURES TABACALERA IN JULY SOLD A 50 STAKE IN ROYAL BRANDS TO THE US MULTINATIONAL RJR NABISCO INC TABACALERA SAID IT CONSIDERS ITS REMAINING 50 ROYAL BRANDS STAKE A SHORTTERM INVESTMENT COMPETITION FROM LOWERPRICED GENERIC BRANDS AND SURGING CONTRABAND CIGARETTE SALES ALSO CUT INTO PROFITS TABACALERA SAID IT ALSO SAID DEPRECIATION OF THE PESETA IN THE PAST YEAR HAS PUSHED UP THE COST OF RAW MATERIALS AT THE PARENT COMPANY PRETAX PROFIT FELL 48 TO 899 BILLION PESETAS IN THE FIRST NINE MONTHS FROM A YEAREARLIER 1725 BILLION PESETAS THE COMPANY SAID IT HAS A COSTCUTTING PROGRAM THAT WILL ALLOW FOR SAVINGS OF ONE BILLION PESETAS IN THE CURRENT YEAR AND ADDED THAT IT IS NEGOTIATING WITH UNIONS TO CUT 500 WORKERS FROM THE PAYROLL THROUGH VOLUNTARY LAYOFFS AND EARLY RETIREMENTS AT THE END OF SEPTEMBER TABACALERA EMPLOYED 10004 PEOPLE COMPARED WITH A YEAREARLIER STAFF OF 11743 ASIDE FROM MAKING CIGARETTES TABACALERA ALSO CONTROLS ALL RETAIL SALES OF TOBACCO THROUGH ITS NETWORK OF TOBACCONISTS OUTSIDE TOBACCO THE OTHER MAIN SOURCE OF REVENUE IS THE SALE OF OFFICIAL STATE FORMS AND POSTAL STAMPS 9311150001 931115 FOREIGN EXCHANGE WORRY OVER JAPAN TAX PLAN NAFTA VOTE LIKELY TO DRIVE DOLLAR LOWER AGAINST YEN BY DIANE DIMOND SPECIAL TO THE WALL STREET JOURNAL NEW YORK POLITICS WILL DRIVE THE DOLLAR LOWER AGAINST THE YEN THIS WEEK ANALYSTS PREDICT EVEN THOUGH THE US CURRENCY SHOULD BE MUCH STRONGER EARLY NEXT YEAR MARKET PLAYERS ARE PREOCCUPIED WITH THE CONTENTS OF JAPAN'S TAX PACKAGE EXPECTED TO BE ANNOUNCED THIS WEEK AND THE CLINTON ADMINISTRATION'S REACTION TO IT REJECTION OF THE NORTH AMERICAN FREE TRADE AGREEMENT BY THE HOUSE COULD ALSO HURT THE DOLLAR TRADERS SAY DEALERS SAY THE DOLLAR COULD SINK TO 10450 YEN IN THE NEXT FEW SESSIONS IT BEGAN SLIDING LAST WEEK TRADING AT 10575 YEN LATE FRIDAY IN NEW YORK DOWN FROM 10830 YEN AT THE END OF THE PREVIOUS WEEK THE DOLLAR ALSO TRADED FRIDAY AT 16850 MARKS COMPARED WITH 16935 MARKS A WEEK EARLIER MIDDAY MONDAY IN TOKYO THE DOLLAR WAS TRADING AT 10578 YEN AND AT 16833 MARKS CURRENCY PLAYERS FRET THAT A MISERLY JAPANESE TAX CUT WON'T PROVIDE THE FISCAL STIMULUS NEEDED TO REVIVE JAPAN'S ECONOMY AND BOOST IMPORTS AN EXASPERATED CLINTON ADMINISTRATION THEY FEAR WILL REFOCUS ON THE EXCHANGE RATE AS A TRADEBALANCING TOOL FRIDAY'S MEETING BETWEEN PRESIDENT CLINTON AND PRIME MINISTER MORIHIRO HOSOKAWA SHOULD REVEAL THE ADMINISTRATION'S RESPONSE THEY SAY FUNDS MANAGERS HAVE SHOWN SOME APPREHENSION ABOUT A REVERSION TO THE SITUATION WE SAW EARLIER WHERE THE CLINTON ADMINISTRATION TALKED DOWN THE DOLLAR TO ADDRESS THE TRADE BALANCE SAYS JACK GRIFFIN MANAGER OF CORPORATE FOREIGN EXCHANGE TRADING AT FUJI BANK LTD AN INCOMETAX CUT AMOUNTING TO FOUR TRILLION TO SIX TRILLION YEN 38 BILLION57 BILLION IS LIKELY SAYS SANDY BATTEN SENIOR ECONOMIST AT CITIBANK THE CONCERN IS THAT THE CUTS WILL BE OFFSET BY A QUICK RISE IN CONSUMPTION TAXES HE SAYS REJECTION OF NAFTA BY CONGRESS COULD ALSO HURT THE DOLLAR ACROSS THE BOARD BUT PARTICULARLY AGAINST THE YEN BECAUSE OF THE IMPORTANCE OF THE USJAPAN TRADE ISSUE ANALYSTS SAY WITHOUT NAFTA WE LACK THE OPPORTUNITY TO BECOME AN EFFECTIVE TRADING BLOC COMPETITIVE WITH THE EUROPEAN COMMUNITY AND THE FAR EAST SAYS JERRY CORNILLE MARKETING DIRECTOR AT CM&M FUTURES INC THE FUTURES SUBSIDIARY OF THE MIDLAND/HSBC GROUP WE'LL BE LOOKING AT HIGHER TRADE DEFICITS WHICH WILL BE MOST PRONOUNCED WITH JAPAN WITH THE TRADE ISSUES LAID TO REST HOWEVER THE DOLLAR SHOULD RISE TO 110 YEN TO 115 YEN OVER THREE MONTHS TRADERS AND ANALYSTS SAY DEALERS REPORT THAT CURRENCY PLAYERS HAVE BEEN BUYING OPTIONS TO HEDGE AGAINST A RISE TO THOSE LEVELS SOME CORPORATIONS HEDGING LONGTERM CURRENCY EXPOSURE HAVE COVERED THE RISK OF A 118YEN DOLLAR A YEAR FROM NOW THE YEN IS SHARPLY OVERVALUED BASED ON PURCHASING POWER PARITY A MEASURE ECONOMISTS USE TO COMPARE THE PRICE OF A BASKET OF GOODS IN DIFFERENT COUNTRIES NOTES ROBERT BRUSCA CHIEF ECONOMIST AT NIKKO SECURITIES CO INTERNATIONAL AND JAPAN'S FINANCIAL MARKETS WON'T ATTRACT FOREIGN INVESTORS AND SHOULD EVENTUALLY DRIVE AWAY DOMESTIC INVESTORS SAYS DAVID ROLLEY SENIOR FINANCIAL ECONOMIST AT DRI/MCGRAW HILL INC AS FUNDS FLOW OUT OF JAPAN INTO FOREIGN ASSETS THE YEN SHOULD WEAKEN HE SAYS THE COMBINATION OF LOW INTEREST RATES FALLING SHARE PRICES AND AN OVERVALUED REALESTATE MARKET MAKES DOMESTIC JAPANESE INVESTMENT UNAPPEALING HE REASONS THIS YEAR THE RISING YEN HAS DISCOURAGED JAPANESE INSTITUTIONAL INVESTORS FROM INVESTING ABROAD HE NOTES BUT THAT SHOULD CHANGE ONCE THOSE INVESTORS BECOME CONFIDENT THAT THE YEN HAS PEAKED THESE CAPITAL FLOWS SHOULD OFFSET JAPAN'S TRADE SURPLUS SAYS MR ROLLEY IN EVERY MARKET SOONER OR LATER CAPITAL FLOWS DOMINATE CURRENCY OUTCOMES HE SAYS 9311150067 931027 RUFF RUFF RUFFAGE HERE ROVER HAVE A NICE BEAN SPROUT TURNING PETS INTO VEGETARIANS IS HEALTHY OWNERS SAY VETERINARIANS ARE HOWLING BY SUEIN L HWANG STAFF REPORTER OF THE WALL STREET JOURNAL LIONS MAY BE EVOLUTIONARY PREDATORS GORGING ON MEAT BLOOD AND GUTS BUT TERESA GIBBS FINDS THESE ANCIENT CARNIVOROUS STIRRINGS UNACCEPTABLE FOR HER OWN MEMBER OF THE FELINE FAMILY SO MS GIBBS HAS TURNED YOKO HER BLACK LONGHAIR CAT INTO A VEGAN THE STRICTEST KIND OF VEGETARIAN EVERY DAY YOKO FEASTS ON GARBANZO BEANS LENTILS SPLIT PEAS AND BROCCOLI WITH A PINCH OF GARLIC ON SPECIAL OCCASIONS SHE NIBBLES ASPARAGUS SPEARS I DON'T THINK SHE MISSES MEAT IN ANY WAY SHAPE OR FORM SAYS MS GIBBS HERSELF A VEGAN SHE TAKES A SWIPE AT CONVENTIONAL CAT FOOD THIS IS MUCH BETTER THAN DEAD ANIMAL PARTS SITTING AROUND WITH FLIES ON IT ALL DAY LONG OF MICE AND BEANS YOKO IS A PIONEER AND CRITICS WOULD SAY A GUINEA PIG IN A CONTROVERSIAL NEW MOVEMENT THAT UNITES VEGETARIANISM AND ANIMALRIGHTS ACTIVISM VEGETARIAN PETS THOUSANDS OF AMERICAN PET OWNERS HAVE JOINED THE MOVEMENT TOSSING OUT THE PURINA AND ALPO AND INTRODUCING FIDO AND FLUFFY TO NUTRITIONAL YEAST AND WHEATGLUTEN FLOUR THE VEGETARIANS PURR ABOUT THE BENEFITS OF A MEATLESS PET DIET CREDITING IT WITH CURING ALL SORTS OF ANIMAL AILMENTS FROM ALLERGIES TO DIABETES SOME EVEN SWEAR THAT CATS ON TOFU AND BEAN SPROUTS BECOME SO MELLOW THAT THEY STOP CHASING MICE AND BIRDS THE HEALTH BENEFITS ARE JUST INCREDIBLE INSISTS LORRAINE SHEPPARD A COLORADO MASSAGE THERAPIST WHO CONVERTED HER TWO DOGS TO VEGETARIANISM FIVE YEARS AGO THEY PETS HAVE MORE ENERGY MORE CLARITY OF MIND AND A REAL PEACEFULNESS SUCH CLAIMS ASIDE SOME WORRY THAT THE VEGPET PEOPLE ARE BARKING UP THE WRONG TREE DOGS EVOLVED ON A HIGH MEATBASED PROTEIN DIET AND CATS ARE TRULY CARNIVORES SAYS ARLEIGH REYNOLDS A CLINICIAN AT CORNELL UNIVERSITY'S COLLEGE OF VETERINARY MEDICINE THUS TO DEPRIVE CANINES OF MEAT INVITES A HOST OF MEDICAL PROBLEMS DR REYNOLDS SAYS HE HAS TREATED A NUMBER OF VEGETARIAN DOGS SUFFERING FROM POOR COATS LOST MUSCLE MASS AND LIVER PROBLEMS AND CATS WHICH REQUIRE TAURINE A NUTRIENT ONLY FOUND IN ANIMAL FLESH ARE SUSCEPTIBLE TO REPRODUCTIVE GROWTH AND HEART PROBLEMS ON A MEATLESS DIET DR REYNOLDS SAYS THAT WHILE SOME VEGETARIAN PETS ARE FED SUPPLEMENTS TO MAKE UP FOR POSSIBLE NUTRIENT LOSSES HE KNOWS OF AT LEAST ONE CAT DEATH RELATED TO VEGETARIAN TAURINE DEFICIENCY AS FOR THE CLAIM THAT A VEGETARIAN DIET PURGES CATS OF PREDATORY INSTINCTS FRANCIS KALLFELZ ANOTHER CORNELL VETERINARIAN AND NUTRITIONIST IS SKEPTICAL I DON'T THINK IT'S POSSIBLE FOR NATURAL INSTINCTS TO BE CHANGED BY FEEDING PROCEDURES HE SAYS NONE OF THESE CONCERNS MAKE MUCH OF A DENT ON VEGANS WHO HAIL ANIMAL VEGETARIANISM AS A FINAL BREAK FROM THE FLESHEATING WORLD IN A SMALL WAY I'M TRYING TO MAKE A DIFFERENCE SAYS MARY CURRIER A VEGAN AND LEADING ADVOCATE OF VEGETARIAN PET DIETS MS CURRIER IS HELPING MORE THAN MOST THE ONETIME SUBURBAN HOUSEWIFE HAS TURNED PET VEGETARIANISM INTO HER LIFE'S WORK PROVIDING SANCTUARY FOR 32 VEGETARIAN CATS AND FIVE VEGETARIAN DOGS IN HER REMOTE BATTERED NEW HAMPSHIRE FARMHOUSE MS CURRIER HAS ACCOMPLISHED WHAT MOST OWNERS OF FINICKY FELINES WOULD CONSIDER THE IMPOSSIBLE AS FOUR CATS SNOOZE PEACEFULLY ON A CROWDED KITCHEN TABLE TWO OTHERS EAGERLY ATTACK AND EAT HALF OF A CANTALOUPE ON A COUNTERTOP LITTLE FANCY FEAST LOVES FAKE HOT DOGS AND I HAVE TO HIDE THE POTATOES FROM BEETHOVEN SAYS MS CURRIER PEELING A CUCUMBER AND FEEDING PIECES OF IT TO POLAR BEAR A WHITE LONGHAIRED CAT BUYING CHICKPEAS AND OLIVE OIL AMONG MANY INGREDIENTS IN HER HOMEMADE VEGETARIAN PET CHOW FOR 32 CATS REQUIRES SOME SACRIFICE IT'S REALLY DIFFICULT SAYS MS CURRIER WHO DEVOTES 450 A MONTH TO HER ANIMALS AND HASN'T GONE TO A RESTAURANT SINCE LAST CHRISTMAS BUT IF YOU HAVE A DREAM YOU GET BY NOT THAT COAXING GENETIC MEATEATERS ONTO VEGETARIAN DIETS IS WITHOUT PROBLEMS MS CURRIER'S SUCCESS ASIDE MS GIBBS SAYS IT TOOK HER TWO MONTHS OF EXPERIMENTATION BEFORE SHE FOUND A GARBANZO BEAN LENTIL AND SPLIT PEA STEW THAT HER THREE CATS COULD SWALLOW TEMPTATION IS A CONSTANT WORRY MS SHEPPARD SAYS SHE IS HAPPY THAT HER DOGS NIBBLE ALMONDS AND GRAPES BUT HAS NO DOUBT THAT OFFERED A STEAK THEY WOULD EAT MEAT VEGETARIAN PETS ALSO SEEM SUSCEPTIBLE TO STOMACH UPSETS OFTEN REQUIRING ANTIGAS REMEDIES KAREN PORRECA A LIBRARIAN FOR PEOPLE FOR THE ETHICAL TREATMENT OF ANIMALS AND OWNER OF FOUR VEGAN DOGS REGULARLY ADDS A FEW DROPS OF BEANO TO THEIR NIGHTLY RATIONS THAT INCLUDE BROWN RICE AND SPLIT PEAS ONE OF THEM REALLY NEEDED IT SHE CONFIDES IF THE VEGETARIAN PET MOVEMENT IS POLITICAL TO SOME IT REPRESENTS OPPORTUNITY FOR OTHERS WOWBOW DISTRIBUTORS LTD OF DEER PARK NY IS AMONG A HALFDOZEN COMPANIES THAT HAVE SPROUTED UP TO MAKE COMMERCIAL QUANTITIES OF DOG AND CAT HEALTH FOOD WOWBOW'S DOG BISCUIT IS BAKED FROM STONEGROUND WHOLE WHEAT YEAST FRESH GARLIC PARSLEY AND EGGS FROM FREERANGE HENS WOWBOW'S LOGO A CHINESE SHARPEI WITH A CARROT DANGLING FROM ITS MOUTH NO ONE KNOWS HOW MANY PETS COMPANION ANIMALS IN ANIMALRIGHTS PARLANCE HAVE GONE VEGETARIAN PET FOODS IN CORONA CALIF SAYS SALES OF ITS VEGETARIAN DOG CHOW JUMPED 24 TO AN ESTIMATED 24 MILLION LAST YEAR THAT IS ENOUGH OF ITS SOYBEAN RICE BARLEY AND CARROT CONCOCTION TO FEED 19000 CANINES AND THE FOURTH EDITION OF VEGETARIAN CATS AND DOGS PUBLISHED BY A MONTANA MAKER OF VITAMIN SUPPLEMENTS FOR VEGETARIAN PETS SOLD 2000 COPIES IN 1993 AS MANY AS IN THE PREVIOUS SIX YEARS COMBINED FOR SOME THE VEGETARIAN PET MOVEMENT REFLECTS A DEEP MISTRUST OF COMMERCIAL PETFOOD MAKERS AMONG A LITANY OF ACCUSATIONS ONE IS THAT SOME MEAT IN COMMERCIAL PET FOOD IS UNFIT TO EAT ANOTHER IS THAT SOME PET FOOD IS ACTUALLY MADE FROM EUTHANIZED CATS AND DOGS BOTH CLAIMS ARE UNTRUE AND THE LATTER IS A RUMOR THAT GOES AROUND EVERY 10 YEARS OR SO SAYS MARK FINKE DIRECTOR OF NUTRITIONAL RESEARCH FOR ALPO PET FOODS INC A UNIT OF GRAND METROPOLITAN PLC WE TRY NOT TO BUY OUR MATERIALS PREGROUND SO YOU CAN TELL WHAT THEY TRULY ARE HE ADMITS THAT MOST PETFOOD COMPANIES INCLUDING ALPO USE MEAT AND ENTRAILS FROM ANIMALS HORSES COWS AND OTHER FARM STOCK THAT HAVE DIED OF DISEASE OR OLD AGE BUT MR FINKE SAYS THAT HIGHTEMPERATURE PROCESSES USED IN MAKING AND CANNING PET FOOD KILL ANY PATHOGENS RALSTONRALSTON PURINA CO AND NESTLE SA ALSO MAJOR PETFOOD MAKERS DECLINED COMMENT FURTHERMORE PETFOOD MAKERS SAY THAT VEGETARIAN REVULSION ASIDE DOGS AND CATS FIND ANIMAL PARTS PAWLICKING GOOD DOGS HAPPEN TO LOVE LUNGS SAYS ALPO'S DR FINKE ADDS CORNELL'S DR REYNOLDS IF YOU WATCH A LION WHEN IT GOES OUT AND KILLS THE FIRST THING IT EATS ARE THE GUTS WHICH IS WHY EVEN SOME VEGETARIANS THINK THE VEGETARIAN PET MOVEMENT IS MISGUIDED FOR DONALD GARBER A VEGETARIAN AND VETERINARIAN HIS CAT VLACKAVAR IS A NATURAL CARNIVORE WHO SHOULDN'T BE DEPRIVED OF HIS BIRTHRIGHT BY HUMAN NOTIONS OF A POLITICALLY CORRECT DIET I DON'T HAVE THE RIGHT TO IMPOSE MY WILL ON ANOTHER CREATURE SAYS DR GARBER VLACKAVAR IS A CAT AND CATS EAT MEAT SEE RELATED LETTER LETTERS TO THE EDITOR FELINE GOURMAND WSJ NOV 15 1993 9310270003 YY93 MM11 9311150064 931021 PATENT QUAGMIRE WHO INVENTED AZT BIG BUCKS ARE RIDING ON WHAT SLEUTHS FIND DEVELOPMENT OF AIDS DRUG INVOLVED MANY SCIENTISTS AND THAT SPARKS A BATTLE A FAMILIAR TRAP FOR NEW IDEAS BY EDWARD FELSENTHAL STAFF REPORTER OF THE WALL STREET JOURNAL WHO INVENTED AZT WAS IT JEROME HORWITZ AT THE FOUNDATION WITH THE HEATED FLASK OR MARTHA ST CLAIR IN THE WORKSHOP WITH THE MOUSE CELLS WHAT ABOUT SAMUEL BRODER IN THE LABORATORY WITH THE TEST TUBE LIKE MOST COMPELLING MYSTERIES THE STORY OF THE INVENTION OF THE POWERFUL AIDS DRUG IS ONE OF LIVES IMPERILED OF ACCUSATIONS OF CLASHING EGOS AND SOME SAY OF GREED IT ALSO IS A STORY OF CONTINUING SUSPENSE THE CASE HASN'T BEEN CRACKED THE SEARCH FOR INVENTORS IS IMPORTANT BECAUSE LEGALLY THE FIRST PERSON TO COME UP WITH AN IDEA GETS EXCLUSIVE RIGHTS TO SELL IT PATENT EXPERTS SAY THAT IS FINE IN THEORY INVENTORS TAKE RISKS BY PURSUING IDEAS THAT OTHERS SEE AS PIPE DREAMS IF THE IDEA PAYS OFF THE DREAMER SHOULD REAP THE REWARDS BUT AS THE AZT CASE SHOWS DETERMINING WHO ORIGINALLY CONCEIVED OF A DRUG CAN BE A LEGAL NIGHTMARE NEARLY 10 YEARS AFTER SCIENTISTS AT BURROUGHS WELLCOME CO AND THE NATIONAL INSTITUTES OF HEALTH JOINTLY BEGAN WORKING ON AZT THEY ARE STILL FIGHTING ABOUT WHO DESERVES THE CREDIT THE CASE IS ONLY ONE AMONG DOZENS OF COURT BATTLES OVER RIGHTS TO VARIOUS DRUGS FROM THE HAIRGROWTH FORMULA MINOXIDIL TO THE ARTHRITIS MEDICATION FLURBIPROFEN AND THE COSTLY FIGHTS ARE PROMPTING SOME LAWMAKERS TO ADVOCATE LEAVING SUCH MYSTERIES OF INVENTORSHIP UNSOLVED WHOEVER SHOWS UP AT THE US PATENT OFFICE FIRST SHOULD OWN THE RIGHTS THEY SAY REGARDLESS OF WHO MADE THE CRUCIAL DISCOVERIES SUCH A CHANGE MIGHT REDUCE THE FINANCIAL INCENTIVE FOR INVENTORS BUT IT WOULD HELP KEEP THEM OUT OF COURT THE CURRENT SYSTEM SEEMS TO HAVE FALLEN BEHIND THE TIMES SLEUTHING FOR THE ONE TRUE INVENTOR ONCE WAS RELATIVELY EASY WHEN SCIENTISTS WORKED ALONE IN BACK ROOMS AND GARAGES BUT MODERN DRUG DEVELOPMENT HAS BECOME TOO COMPLEX AND EXPENSIVE FOR THAT IT REQUIRES THE POOLED EXPERTISE AND COOPERATION OF SO MANY SCIENTISTS THAT IT'S OFTEN DIFFICULT TO DECIDE WHO REALLY MADE A NEW TREATMENT POSSIBLE THAT LEAVES THE DETECTIVES IN CHARGE THE US PATENT OFFICE AND THE COURTS WITH THE NEARLY IMPOSSIBLE TASK OF SORTING THROUGH COMPETING CLAIMS THE PATENT SYSTEM HAS OSTEOPOROSIS DECLARES ROGER SCHECHTER A LAW PROFESSOR AT GEORGE WASHINGTON UNIVERSITY IN WASHINGTON DC THE HUNT FOR AZT'S INVENTOR STARKLY ILLUSTRATES HOW SERPENTINE THE PATENT SYSTEM'S DETECTIVE WORK HAS BECOME IT ALSO SHOWS HOW NASTY COOPERATIVE RESEARCH CAN GET THE INTERMINABLE SQUABBLING IS TAKING SCIENTISTS OUT OF THE LAB AND INTO THE COURTROOM AND DRAINING MILLIONS OF DOLLARS FROM RESEARCH WORK FOR NOW BURROUGHS WELLCOME THE US ARM OF BRITAIN'S WELLCOME PLC ALONE MANUFACTURES THE DRUG WHICH REMAINS THE MOST WIDELY USED AIDS THERAPY AND ONE OF THE MOST EXPENSIVE DRUGS ON THE MARKET IF A COURT ULTIMATELY RULES THAT SOMEONE OUTSIDE BURROUGHS WELLCOME WAS AN INVENTOR THE COMPANY WOULD LOSE ITS MONOPOLY ALLOWING GENERIC AZT TO BE MARKETED AT A FAR LOWER PRICE BUT A LONG LIST OF RESEARCHERS AND COURT DATES STANDS IN THE WAY ALTHOUGH AZT DIDN'T HIT THE MARKET UNTIL 1987 THE LIST OF POSSIBLE INVENTORS GOES BACK TO 1964 IN THAT YEAR A CHEMIST AT THE MICHIGAN CANCER FOUNDATION IN DETROIT COOKED UP A NEW COMPOUND CALLED AZIDOTHYMIDINE OR AZT NO ONE INVOLVED IN THE CASE DENIES THAT THE CHEMIST DR HORWITZ CREATED THE DRUG YET THAT CONSENSUS DOESN'T EVEN BEGIN TO SETTLE THE DISPUTE DR HORWITZ'S PROBLEM IS THAT HE DIDN'T KNOW WHAT HE HAD WROUGHT LEGALLY AN INVENTOR HAS TO PROVE NOT ONLY THAT HE ORIGINATED AN IDEA BUT ALSO THAT IT MIGHT DO SOMETHING USEFUL DR HORWITZ HAD HOPED HIS NEW DRUG WOULD WORK AS A CANCER TREATMENT BUT IT DIDN'T AND IN 1964 NO ONE HAD HEARD OF AIDS SO THE COMPOUND SAT ON THE SHELF FOR YEARS FINALLY IN 1983 BURROUGHS WELLCOME BEGAN LOOKING FOR AIDS TREATMENTS IT ASSIGNED JANET RIDEOUT AN ORGANIC CHEMIST TO IDENTIFY PROMISING COMPOUNDS AFTER GOING THROUGH THOUSANDS SHE CUT THE LIST TO 14 IT WAS THE RESEARCH EQUIVALENT OF PICKING THE WINNING LOTTERY NUMBER ONE OF THOSE DRUGS WAS AZT DR RIDEOUT'S WORK GAVE A BURROUGHS WELLCOME VIROLOGIST DR ST CLAIR SOMETHING TO WORK WITH AND DR ST CLAIR QUICKLY MADE A BREAKTHROUGH IN A SOPHISTICATED TEST SHE HAD DESIGNED TO SCREEN POTENTIAL THERAPIES AZT DESTROYED A MOUSE VIRUS SIMILAR TO THE HUMAN IMMUNODEFICIENCY VIRUS THAT CAUSES AIDS IN ITS PATENT APPLICATION BURROUGHS WELLCOME NAMED BOTH DR RIDEOUT AND DR ST CLAIR AS INVENTORS PLUS THREE OTHER SCIENTISTS DAVID BARRY ITS VICE PRESIDENT OF RESEARCH WHO PUT TOGETHER THE AIDSRESEARCH TEAM PHILLIP FURMAN A VIROLOGIST WHO WORKED WITH DR ST CLAIR IN DESIGNING THE MOUSE SCREEN AND SANDRA LEHRMAN AN INFECTIOUSDISEASE EXPERT INVOLVED IN ALMOST EVERY PART OF THE PROJECT BUT CRITICS SAY THESE SCIENTISTS' WORK ALONE DOESN'T QUALIFY THE COMPANY FOR THE AZT PATENT BECAUSE THEY DIDN'T PROVE THAT THE DRUG HELPED FIGHT AIDS IN HUMANS BRUCE DOWNEY PRESIDENT OF GENERICDRUG MANUFACTURER BARR LABORATORIES INC DISPARAGES THE NOTION THAT DR RIDEOUT IS AN AZT INVENTOR SIMPLY BECAUSE SHE PULLED IT OFF THE SHELF AND ARMED ONLY WITH DR ST CLAIR'S RESULTS IN MICE BURROUGHS WELLCOME'S CLAIM WAS NO STRONGER THAN THE IDEA YOU COULD USE LEMONADE AS A TREATMENT FOR AIDS HE ADDS IN A DEAL WITH THE NIH BARR LABS IS ARGUING THE CASE ON THE GOVERNMENT'S BEHALF IN EXCHANGE FOR THE RIGHT TO MARKET AZT IF IT WINS IN 1991 BURROUGHS WELLCOME SUED TO ENFORCE ITS PATENT RIGHTS AFTER BARR ASKED THE FOOD AND DRUG ADMINISTRATION FOR PERMISSION TO MANUFACTURE AND SELL A GENERIC VERSION OF AZT A YEAR LATER BURROUGHS WELLCOME BROUGHT NOVOPHARM LTD A CANADIAN GENERICDRUG MAKER INTO THE LAWSUIT AFTER IT TOO FILED AN APPLICATION WITH THE FDA TO SELL THE DRUG BARR'S PICKS FOR WHO INVENTED AZT DR BRODER AND HIROAKI MITSUYA OF THE NIH THE GOVERNMENT'S HEALTHRESEARCH ARM DR BRODER THE DIRECTOR OF THE NIH'S NATIONAL CANCER INSTITUTE SPEARHEADED NIH RESEARCH ON AIDS AND WITH DR MITSUYA DEVELOPED A TESTTUBE EXPERIMENT TO ASSESS THE EFFECT OF DIFFERENT DRUGS ON HIVINFECTED HUMAN CELLS IN 1984 THE NIH ASKED VARIOUS COMPANIES INCLUDING BURROUGHS WELLCOME TO SEND POTENTIAL TREATMENTS FOR TESTING DR MITSUYA WHO RAN THE EXPERIMENT KNEW THAT HE MIGHT BE RISKING HIS LIFE BY WORKING WITH LIVE HIV AT A TIME WHEN THE POSSIBLE DANGERS TO RESEARCHERS WERE UNKNOWN HE DISCUSSED THOSE DANGERS WITH HIS WIFE AND THEY DECIDED THAT THE QUEST FOR AN AIDS DRUG WAS WORTH THE RISK THE GAMBLE PAID OFF AFTER SHIPPING A NUMBER OF POTENTIAL TREATMENTS THAT FAILED THE NIH TEST BURROUGHS WELLCOME SENT AZT IN EARLY 1986 DR MITSUYA PUT IT IN A TEST TUBE CONTAINING HIV IN A SOLUTION AND WATCHED FOR SIX DAYS ON FEB 20 DR BRODER CALLED BURROUGHS WELLCOME TO TELL IT THAT THE DRUG HAD BLOCKED THE VIRUS FROM GETTING INTO THE HUMAN CELLS IN THE TEST TUBE AS A COMPANY PUBLICRELATIONS DOCUMENT ON AZT PUTS IT WE KNEW WE REALLY HAD SOMETHING THEN BURROUGHS WELLCOME AND THE NIH AGREED TO WORK TOGETHER TO MOVE THE DRUG THROUGH AN FDAREQUIRED CLINICAL TRIAL ON AIDS PATIENTS THAT WAS ABOUT THE LAST TIME THE TWO SIDES AGREED ON ANYTHING RELATIONS SOURED WHEN BURROUGHS WELLCOME PUT A HIGH PRICE ON AZT AND THEN PUBLICLY DISCOUNTED THE NIH ROLE IN ORDER TO GET THAT HIGH PRICE THEY HAD TO SNUB BRODER AND HIS LAB OF ALL CREDIT SAYS PETER ARNO A HEALTH ECONOMIST AT MONTEFIORE MEDICAL CENTER IN NEW YORK IT WAS OLDFASHIONED GREED BURROUGHS WELLCOME DEFENDS AZT'S PRICE TAG WHICH ORIGINALLY RAN 10000 A YEAR AT RETAIL AFTER A PUBLIC OUTCRY ABOUT THAT PRICE AND A DROP IN THE DOSAGE RECOMMENDED BY MOST DOCTORS THE COST HAS DECLINED TO ABOUT 2500 A YEAR THE COMPANY SAYS THE PRICE REFLECTS THE HIGH COST OF DEVELOPMENT MANUFACTURING AND CONTINUING RESEARCH ON THE DRUG IT ADDS THAT IT HAD EVERY RIGHT TO EXCLUDE DRS BRODER AND MITSUYA FROM THE LIST OF INVENTORS ON ITS PATENT APPLICATION THE IDEA WAS FULLY CONCEIVED AFTER DR ST CLAIR FINISHED HER TESTS THE COMPANY CONTENDS IN THE LAWSUIT OVER THE QUESTION OF WHO INVENTED AZT THE LEGAL SYSTEM SO FAR IS SIDING WITH BURROUGHS WELLCOME LAST JULY FEDERAL JUDGE MALCOLM HOWARD IN NEW BERN NC RULED THAT THE NIH ACTED MERELY AS A TECHNICIAN AND NOT A CONCEIVER IN AZT'S DEVELOPMENT THE LAW DOESN'T REQUIRE THAT THE INVENTOR'S IDEA BE REASONABLE SCIENTIFICALLY ACCURATE OR CAPABLE OF BEING PROVED JUDGE HOWARD WROTE BUT THE CASE COULD BE FAR FROM OVER THE ISSUE IS BEING TAKEN UP BY THE COURT OF APPEALS FOR THE FEDERAL CIRCUIT THE COUNTRY'S MOST IMPORTANT PATENT COURT WHICH IS EXPECTED TO HEAR THE ARGUMENTS EARLY NEXT YEAR IF THE COURT REVERSES JUDGE HOWARD WHICH SOME PATENT LAWYERS TERM POSSIBLE THE CASE WOULD PROBABLY GO BACK TO THE NEW BERN COURT THE ISSUE COULD END UP IN THE US SUPREME COURT LIKE EVERY MYSTERY STORY THE AZT CASE HAS ITS VICTIMS EVEN IF BARR WINS THE LAWSUIT WILL HAVE DELAYED THE MARKETING OF GENERIC AZT BY SEVERAL YEARS LONGER THAN MANY AIDS VICTIMS CAN WAIT MEANWHILE THE COST OF AZT HAS BEEN A HARDSHIP FOR MANY PATIENTS AND MEDICAID THE GOVERNMENT MEDICAL PROGRAM FOR THE POOR IS AMONG THE BIGGEST BUYERS OF AZT SO THE STEEP PRICE IT PAYS IS A BIT IRONIC BECAUSE THE GOVERNMENT POURED SIGNIFICANT RESOURCES INTO AZT'S DEVELOPMENT THE NEW BERN TRIAL HAS ALSO SQUANDERED RESEARCH MONEY BURROUGHS WELLCOME SAYS IT HAS SPENT SEVERAL MILLION DOLLARS BARR'S TAB IS NEAR 4 MILLION SCIENTISTS HAVE BEEN YANKED FROM THE LAB FOR DAYS AT A TIME INCLUDING MORE THAN A WEEK OF PRETRIAL TESTIMONY FROM DR BRODER ALONE DURING THE TRIAL THE THREE COMPANIES' LEGAL STAFFS AND DOCUMENTS TOOK UP SEVERAL FLOORS OF OFFICE SPACE IN NEW BERN AFTERWARD BARR RENTED A TRUCK JUST TO HAUL PAPERS BACK TO ITS POMONA NY HEADQUARTERS ALTHOUGH SUCH FEUDS HAVE ESPECIALLY PLAGUED NEW DRUGS THE PROBLEM ISN'T CONFINED TO THAT INDUSTRY SIMILAR DISPUTES CAN ARISE DURING CREATION OF ANY SCIENTIFICALLY COMPLEX PRODUCT AND HAVE LED SOME LAWMAKERS TO QUESTION WHETHER SLEUTHING FOR INVENTORS IS WORTH THE COST BUT REFORMING PATENT LAWS IS A TRICKY BUSINESS BECAUSE THE PROMISE OF 17 YEARS OF EXCLUSIVE SALES RIGHTS IS OFTEN WHAT LURES INVENTORS INTO RISKY VENTURES IN THE FIRST PLACE THE MOST RADICAL PROPOSAL AND THE SUBJECT OF RECENT HEARINGS AT THE PATENT OFFICE WOULD METE OUT OWNERSHIP RIGHTS LIKE HOT CONCERT TICKETS FIRST COME FIRST SERVED THE DRAWBACK OF FAVORING THE EARLIEST APPLICANT IS THAT SUCH A SYSTEM MIGHT HARM SMALL INVENTORS DEFT AT INNOVATION BUT SLOW AT PAPERWORK CRITICS CONTEND THAT COMPANIES WITH ONLY A VAGUE CLAIM COULD RUSH MULTIPLE APPLICATIONS TO THE PATENT OFFICE TO TRY TO SEIZE THE BONANZA HOWEVER A FIRSTTOFILE SYSTEM PROBABLY WOULD HELP AVOID AZTSTYLE BRAWLS MOREOVER AS SEN DENNIS DECONCINI PUTS IT THE WHOLE WORLD IS DOING IT A DIFFERENT WAY THE ARIZONAN AND REP WILLIAM HUGHES OF NEW JERSEY HAVE SPONSORED LEGISLATION THAT WOULD ADOPT THE FIRSTTOFILE METHOD WHICH MOST COUNTRIES ALREADY USE IF THE TWO DEMOCRATS SUCCEED THE 200YEAROLD SERIES OF INVENTION MYSTERIES WOULD BE ENDED THE UPSHOT ACCORDING TO PROF SCHECHTER WE MAY LOSE THE SENSE OF FAIRNESS AND CHARACTERISTIC AMERICAN RIGHTEOUSNESS BUT HE ADDS THE WAY WE DO IT NOW IS MURKY AND AMBIGUOUS AND WHEN THE DAY IS DONE WE DON'T EVEN KNOW IF WE'VE FOUND THE RIGHT PERSON SEE RELATED LETTER LETTERS TO THE EDITOR PATENTS RIGHTLY GRANTED FIRST COME FIRST SERVE WSJ NOV 15 1993 9310210070 YY93 MM11 9311150015 931029 THE COMING WHITE UNDERCLASS BY CHARLES MURRAY EVERY ONCE IN A WHILE THE SKY REALLY IS FALLING AND THIS SEEMS TO BE THE CASE WITH THE LATEST NATIONAL FIGURES ON ILLEGITIMACY THE UNADORNED STATISTIC IS THAT IN 1991 12 MILLION CHILDREN WERE BORN TO UNMARRIED MOTHERS WITHIN A HAIR OF 30 OF ALL LIVE BIRTHS HOW HIGH IS 30 ABOUT FOUR PERCENTAGE POINTS HIGHER THAN THE BLACK ILLEGITIMACY RATE IN THE EARLY 1960S THAT MOTIVATED DANIEL PATRICK MOYNIHAN TO WRITE HIS FAMOUS MEMORANDUM ON THE BREAKDOWN OF THE BLACK FAMILY THE 1991 STORY FOR BLACKS IS THAT ILLEGITIMACY HAS NOW REACHED 68 OF BIRTHS TO BLACK WOMEN IN INNER CITIES THE FIGURE IS TYPICALLY IN EXCESS OF 80 MANY OF US HAVE HEARD THESE NUMBERS SO OFTEN THAT WE ARE INURED IT IS TIME TO THINK ABOUT THEM AS IF WE WERE BACK IN THE MID1960S WITH THE YOUNG MOYNIHAN AND ASKED TO PREDICT WHAT WOULD HAPPEN IF THE BLACK ILLEGITIMACY RATE WERE 68 IMPOSSIBLE WE WOULD HAVE SAID BUT IF THE PROPORTION OF FATHERLESS BOYS IN A GIVEN COMMUNITY WERE TO REACH SUCH LEVELS SURELY THE CULTURE MUST BE LORD OF THE FLIES WRIT LARGE THE VALUES OF UNSOCIALIZED MALE ADOLESCENTS MADE NORMS PHYSICAL VIOLENCE IMMEDIATE GRATIFICATION AND PREDATORY SEX THAT IS THE CULTURE NOW TAKING OVER THE BLACK INNER CITY BUT THE BLACK STORY HOWEVER DISMAYING IS OLD NEWS THE NEW TREND THAT THREATENS THE US IS WHITE ILLEGITIMACY MATTERS HAVE NOT YET QUITE GOTTEN OUT OF HAND BUT THEY ARE ON THE BRINK IF WE WANT TO ACT NOW IS THE TIME IN 1991 707502 BABIES WERE BORN TO SINGLE WHITE WOMEN REPRESENTING 22 OF WHITE BIRTHS THE ELITE WISDOM HOLDS THAT THIS PHENOMENON CUTS ACROSS SOCIAL CLASSES AS IF THE INCREASE IN MURPHY BROWNS WERE PUSHING THE TRENDLINE THUS A FEW MONTHS AGO A CENSUS BUREAU STUDY OF FERTILITY AMONG ALL AMERICAN WOMEN GOT HEADLINES FOR A FEW DAYS BECAUSE IT SHOWED THAT BIRTHS TO SINGLE WOMEN WITH COLLEGE DEGREES DOUBLED IN THE LAST DECADE TO 6 FROM 3 THIS IS AN INTERESTING TREND BUT OF MINOR SOCIAL IMPORTANCE THE REAL NEWS OF THAT STUDY IS THAT THE PROPORTION OF SINGLE MOTHERS WITH LESS THAN A HIGH SCHOOL EDUCATION JUMPED TO 48 FROM 35 IN A SINGLE DECADE THESE NUMBERS ARE DOMINATED BY WHITES BREAKING DOWN THE NUMBERS BY RACE USING DATA NOT AVAILABLE IN THE PUBLISHED VERSION WOMEN WITH COLLEGE DEGREES CONTRIBUTE ONLY 4 OF WHITE ILLEGITIMATE BABIES WHILE WOMEN WITH A HIGH SCHOOL EDUCATION OR LESS CONTRIBUTE 82 WOMEN WITH FAMILY INCOMES OF 75000 OR MORE CONTRIBUTE 1 OF WHITE ILLEGITIMATE BABIES WHILE WOMEN WITH FAMILY INCOMES UNDER 20000 CONTRIBUTE 69 THE NATIONAL LONGITUDINAL STUDY OF YOUTH A LABOR DEPARTMENT STUDY THAT HAS TRACKED MORE THAN 10000 YOUTHS SINCE 1979 SHOWS AN EVEN MORE DRAMATIC PICTURE FOR WHITE WOMEN BELOW THE POVERTY LINE IN THE YEAR PRIOR TO GIVING BIRTH 44 OF BIRTHS HAVE BEEN ILLEGITIMATE COMPARED WITH ONLY 6 FOR WOMEN ABOVE THE POVERTY LINE WHITE ILLEGITIMACY IS OVERWHELMINGLY A LOWERCLASS PHENOMENON THIS BRINGS US TO THE EMERGENCE OF A WHITE UNDERCLASS IN RAW NUMBERS EUROPEANAMERICAN WHITES ARE THE ETHNIC GROUP WITH THE MOST PEOPLE IN POVERTY MOST ILLEGITIMATE CHILDREN MOST WOMEN ON WELFARE MOST UNEMPLOYED MEN AND MOST ARRESTS FOR SERIOUS CRIMES AND YET WHITES HAVE NOT HAD AN UNDERCLASS AS SUCH BECAUSE THE WHITES WHO MIGHT QUALIFY HAVE BEEN SCATTERED AMONG THE WORKING CLASS INSTEAD WHITES HAVE HAD WHITE TRASH CONCENTRATED IN A FEW STREETS ON THE OUTSKIRTS OF TOWN SOMETIMES A SKID ROW OF UNATTACHED WHITE MEN IN THE LARGE CITIES BUT THESE SCATTERINGS HAVE SELDOM BEEN LARGE ENOUGH TO MAKE UP A NEIGHBORHOOD AN UNDERCLASS NEEDS A CRITICAL MASS AND WHITE AMERICA HAS NOT HAD ONE BUT NOW THE OVERALL WHITE ILLEGITIMACY RATE IS 22 THE FIGURE IN LOWINCOME WORKINGCLASS COMMUNITIES MAY BE TWICE THAT HOW MUCH ILLEGITIMACY CAN A COMMUNITY TOLERATE NOBODY KNOWS BUT THE HISTORICAL FACT IS THAT THE TRENDLINES ON BLACK CRIME DROPOUT FROM THE LABOR FORCE AND ILLEGITIMACY ALL SHIFTED SHARPLY UPWARD AS THE OVERALL BLACK ILLEGITIMACY RATE PASSED 25 THE CAUSAL CONNECTION IS MURKY I BLAME THE REVOLUTION IN SOCIAL POLICY DURING THAT PERIOD WHILE OTHERS BLAME THE SEXUAL REVOLUTION BROAD SHIFTS IN CULTURAL NORMS OR STRUCTURAL CHANGES IN THE ECONOMY BUT THE WHITE ILLEGITIMACY RATE IS APPROACHING THAT SAME PROBLEMATIC 25 REGION AT A TIME WHEN SOCIAL POLICY IS MORE COMPREHENSIVELY WRONGHEADED THAN IT WAS IN THE MID1960S AND THE CULTURAL AND SEXUAL NORMS ARE STILL MORE DEGRADED THE WHITE UNDERCLASS WILL BEGIN TO SHOW ITS FACE IN ISOLATED WAYS LOOK FOR CERTAIN SCHOOLS IN WHITE NEIGHBORHOODS TO GET A REPUTATION AS BEING UNTEACHABLE WITH LARGE NUMBERS OF DISRUPTIVE STUDENTS AND INDIFFERENT PARENTS TALK TO THE POLICE LISTEN FOR STORIES ABOUT WHITE NEIGHBORHOODS WHERE THE INCIDENCE OF DOMESTIC DISPUTES AND CASUAL VIOLENCE HAS BEEN SHOOTING UP LOOK FOR WHITE NEIGHBORHOODS WITH HIGH CONCENTRATIONS OF DRUG ACTIVITY AND LARGE NUMBERS OF MEN WHO HAVE DROPPED OUT OF THE LABOR FORCE SOME READERS WILL RECALL READING THE OCCASIONAL NEWS STORY ABOUT SUCH PLACES ALREADY AS THE SPATIAL CONCENTRATION OF ILLEGITIMACY REACHES CRITICAL MASS WE SHOULD EXPECT THE DETERIORATION TO BE AS FAST AMONG LOWINCOME WHITES IN THE 1990S AS IT WAS AMONG LOWINCOME BLACKS IN THE 1960S MY PROPOSITION IS THAT ILLEGITIMACY IS THE SINGLE MOST IMPORTANT SOCIAL PROBLEM OF OUR TIME MORE IMPORTANT THAN CRIME DRUGS POVERTY ILLITERACY WELFARE OR HOMELESSNESS BECAUSE IT DRIVES EVERYTHING ELSE DOING SOMETHING ABOUT IT IS NOT JUST ONE MORE ITEM ON THE AMERICAN POLICY AGENDA BUT SHOULD BE AT THE TOP HERE IS WHAT TO DO IN THE CALCULUS OF ILLEGITIMACY THE CONSTANTS ARE THAT BOYS LIKE TO SLEEP WITH GIRLS AND THAT GIRLS THINK BABIES ARE ENDEARING HUMAN SOCIETIES HAVE HISTORICALLY CHANNELED THESE ELEMENTAL FORCES OF HUMAN BEHAVIOR VIA THICK WALLS OF REWARDS AND PENALTIES THAT CONSTRAINED THE OVERWHELMING MAJORITY OF BIRTHS TO TAKE PLACE WITHIN MARRIAGE THE PAST 30 YEARS HAVE SEEN THOSE WALLS CAVE IN IT IS TIME TO REBUILD THEM THE ETHICAL UNDERPINNING FOR THE POLICIES I AM ABOUT TO DESCRIBE IS THIS BRINGING A CHILD INTO THE WORLD IS THE MOST IMPORTANT THING THAT MOST HUMAN BEINGS EVER DO BRINGING A CHILD INTO THE WORLD WHEN ONE IS NOT EMOTIONALLY OR FINANCIALLY PREPARED TO BE A PARENT IS WRONG THE CHILD DESERVES SOCIETY'S SUPPORT THE PARENT DOES NOT THE SOCIAL JUSTIFICATION IS THIS A SOCIETY WITH BROAD LEGAL FREEDOMS DEPENDS CRUCIALLY ON STRONG NONGOVERNMENTAL INSTITUTIONS TO TEMPER AND RESTRAIN BEHAVIOR OF THESE MARRIAGE IS PARAMOUNT EITHER WE REVERSE THE CURRENT TRENDS IN ILLEGITIMACY ESPECIALLY WHITE ILLEGITIMACY OR AMERICA MUST WILLYNILLY BECOME AN UNRECOGNIZABLY AUTHORITARIAN SOCIALLY SEGREGATED CENTRALIZED STATE TO RESTORE THE REWARDS AND PENALTIES OF MARRIAGE DOES NOT REQUIRE SOCIAL ENGINEERING RATHER IT REQUIRES THAT THE STATE STOP INTERFERING WITH THE NATURAL FORCES THAT HAVE DONE THE JOB QUITE EFFECTIVELY FOR MILLENNIA SOME OF THE CHANGES I WILL DESCRIBE CAN OCCUR AT THE FEDERAL LEVEL OTHERS WOULD INVOLVE STATE LAWS FOR NOW THE IMPORTANT THING IS TO AGREE ON WHAT SHOULD BE DONE I BEGIN WITH THE PENALTIES OF WHICH THE MOST OBVIOUS ARE ECONOMIC THROUGHOUT HUMAN HISTORY A SINGLE WOMAN WITH A SMALL CHILD HAS NOT BEEN A VIABLE ECONOMIC UNIT NOT BEING A VIABLE ECONOMIC UNIT NEITHER HAVE THE SINGLE WOMAN AND CHILD BEEN A LEGITIMATE SOCIAL UNIT IN SMALL NUMBERS THEY MUST BE A NET DRAIN ON THE COMMUNITY'S RESOURCES IN LARGE NUMBERS THEY MUST DESTROY THE COMMUNITY'S CAPACITY TO SUSTAIN ITSELF MIRABILE DICTU COMMUNITIES EVERYWHERE HAVE AUGMENTED THE ECONOMIC PENALTIES OF SINGLE PARENTHOOD WITH SEVERE SOCIAL STIGMA RESTORING ECONOMIC PENALTIES TRANSLATES INTO THE FIRST AND CENTRAL POLICY PRESCRIPTION TO END ALL ECONOMIC SUPPORT FOR SINGLE MOTHERS THE AFDC AID TO FAMILIES WITH DEPENDENT CHILDREN PAYMENT GOES TO ZERO SINGLE MOTHERS ARE NOT ELIGIBLE FOR SUBSIDIZED HOUSING OR FOR FOOD STAMPS AN ASSORTMENT OF OTHER SUBSIDIES AND INKIND BENEFITS DISAPPEAR SINCE UNIVERSAL MEDICAL COVERAGE APPEARS TO BE AN IDEA WHOSE TIME HAS COME I WILL STIPULATE THAT ALL CHILDREN HAVE MEDICAL COVERAGE BUT WITH THAT EXCEPTION THE SIGNAL IS LOUD AND UNMISTAKABLE FROM SOCIETY'S PERSPECTIVE TO HAVE A BABY THAT YOU CANNOT CARE FOR YOURSELF IS PROFOUNDLY IRRESPONSIBLE AND THE GOVERNMENT WILL NO LONGER SUBSIDIZE IT HOW DOES A POOR YOUNG MOTHER SURVIVE WITHOUT GOVERNMENT SUPPORT THE SAME WAY SHE HAS SINCE TIME IMMEMORIAL IF SHE WANTS TO KEEP A CHILD SHE MUST ENLIST SUPPORT FROM HER PARENTS BOYFRIEND SIBLINGS NEIGHBORS CHURCH OR PHILANTHROPIES SHE MUST GET SUPPORT FROM SOMEWHERE ANYWHERE OTHER THAN THE GOVERNMENT THE OBJECTIVES ARE THREEFOLD FIRST ENLISTING THE SUPPORT OF OTHERS RAISES THE PROBABILITY THAT OTHER MATURE ADULTS ARE GOING TO BE INVOLVED WITH THE UPBRINGING OF THE CHILD AND THIS IS A GREAT GOOD IN ITSELF SECOND THE NEED TO FIND SUPPORT FORCES A SELFSELECTION PROCESS ONE OF THE MOST SHORTSIGHTED EXCUSES MADE FOR CURRENT BEHAVIOR IS THAT AN ADOLESCENT WHO IS UTTERLY UNPREPARED TO BE A MOTHER NEEDS SOMEONE TO LOVE CHILDISH YEARNING ISN'T A GOOD ENOUGH SELECTION DEVICE WE NEED TO RAISE THE PROBABILITY THAT A YOUNG SINGLE WOMAN WHO KEEPS HER CHILD IS DOING SO VOLITIONALLY AND THOUGHTFULLY FORCING HER TO FIND A WAY OF SUPPORTING THE CHILD DOES THIS IT WILL LEAD MANY YOUNG WOMEN WHO SHOULDN'T BE MOTHERS TO PLACE THEIR BABIES FOR ADOPTION THIS IS GOOD IT WILL LEAD OTHERS WATCHING WHAT HAPPENS TO THEIR SISTERS TO TAKE STEPS NOT TO GET PREGNANT THIS IS ALSO GOOD MANY OTHERS WILL GET ABORTIONS WHETHER THIS IS GOOD DEPENDS ON WHAT ONE THINKS OF ABORTION THIRD STIGMA WILL REGENERATE THE PRESSURE ON RELATIVES AND COMMUNITIES TO PAY FOR THE FOLLY OF THEIR CHILDREN WILL MAKE AN ILLEGITIMATE BIRTH THE SOCIALLY HORRIFIC ACT IT USED TO BE AND GETTING A GIRL PREGNANT SOMETHING BOYS DO AT THE RISK OF FACING A SHOTGUN STIGMA AND SHOTGUN MARRIAGES MAY OR MAY NOT BE GOOD FOR THOSE ON THE RECEIVING END BUT THEIR DETERRENT EFFECT ON OTHERS IS WONDERFUL AND INDISPENSABLE WHAT ABOUT WOMEN WHO CAN FIND NO SUPPORT BUT KEEP THE BABY ANYWAY THERE ARE LAWS ALREADY ON THE BOOKS ABOUT THE RIGHT OF THE STATE TO TAKE A CHILD FROM A NEGLECTFUL PARENT WE HAVE SOME 360000 CHILDREN IN FOSTER CARE BECAUSE OF THEM THOSE LAWS WOULD STILL APPLY SOCIETY'S MAIN RESPONSE HOWEVER SHOULD BE TO MAKE IT AS EASY AS POSSIBLE FOR THOSE MOTHERS TO PLACE THEIR CHILDREN FOR ADOPTION AT INFANCY TO THAT END STATE GOVERNMENTS MUST STRIP ADOPTION OF THE NONSENSE THAT HAS ENCUMBERED IT IN RECENT DECADES THE FIRST STEP IS TO MAKE ADOPTION EASY FOR ANY MARRIED COUPLE WHO CAN SHOW REASONABLE EVIDENCE OF HAVING THE RESOURCES AND STABILITY TO RAISE A CHILD LIFT ALL RESTRICTIONS ON INTERRACIAL ADOPTION EASE AGE LIMITATIONS FOR ADOPTIVE PARENTS THE SECOND STEP IS TO RESTORE THE TRADITIONAL LEGAL PRINCIPLE THAT PLACING A CHILD FOR ADOPTION MEANS IRREVOCABLY RELINQUISHING ALL LEGAL RIGHTS TO THE CHILD THE ADOPTIVE PARENTS ARE PARENTS WITHOUT QUALIFICATION RECORDS ARE SEALED UNTIL THE CHILD REACHES ADULTHOOD AT WHICH TIME THEY MAY BE UNSEALED ONLY WITH THE CONSENT OF BIOLOGICAL CHILD AND PARENT GIVEN THESE STRAIGHTFORWARD CHANGES GOING BACK TO THE OLD WAY WHICH WORKED THERE IS REASON TO BELIEVE THAT SOME EXTREMELY LARGE PROPORTION OF INFANTS GIVEN UP BY THEIR MOTHERS WILL BE ADOPTED INTO GOOD HOMES THIS IS TRUE NOT JUST FOR FLAWLESS BLUEEYED BLOND INFANTS BUT FOR BABIES OF ALL COLORS AND CONDITIONS THE DEMAND FOR INFANTS TO ADOPT IS HUGE SOME SMALL PROPORTION OF INFANTS AND LARGER PROPORTION OF OLDER CHILDREN WILL NOT BE ADOPTED FOR THEM THE GOVERNMENT SHOULD SPEND LAVISHLY ON ORPHANAGES I AM NOT RECOMMENDING DICKENSIAN BARRACKS IN 1993 WE KNOW A LOT ABOUT HOW TO PROVIDE A WARM NURTURING ENVIRONMENT FOR CHILDREN AND GETTING RID OF THE WELFARE SYSTEM FREES UP LOTS OF MONEY TO DO IT THOSE WHO FIND THE WORD ORPHANAGES OBJECTIONABLE MAY THINK OF THEM AS 24HOURADAY PRESCHOOLS THOSE WHO PRATTLE ABOUT THE IMPORTANCE OF KEEPING CHILDREN WITH THEIR BIOLOGICAL MOTHERS MAY WISH TO SPEND SOME TIME IN A PATROL CAR OR WITH A SOCIAL WORKER SEEING WHAT THE REALITY OF LIFE WITH WELFAREDEPENDENT BIOLOGICAL MOTHERS CAN BE LIKE FINALLY THERE IS THE MATTER OF RESTORING THE REWARDS OF MARRIAGE HERE I AM PESSIMISTIC ABOUT HOW MUCH GOVERNMENT CAN DO AND OPTIMISTIC ABOUT HOW LITTLE IT NEEDS TO DO THE REWARDS OF RAISING CHILDREN WITHIN MARRIAGE ARE REAL AND DEEP THE MAIN TASK IS TO SHEPHERD CHILDREN THROUGH ADOLESCENCE SO THAT THEY CAN REACH ADULTHOOD WHEN THEY ARE LIKELY TO RECOGNIZE THE VALUE OF THOSE REWARDS FREE TO TAKE ON MARRIAGE AND FAMILY THE MAIN PURPOSE OF THE PENALTIES FOR SINGLE PARENTHOOD IS TO MAKE THAT TASK EASIER ONE OF THE FEW CONCRETE THINGS THAT THE GOVERNMENT CAN DO TO INCREASE THE REWARDS OF MARRIAGE IS MAKE THE TAX CODE FAVOR MARRIAGE AND CHILDREN THOSE OF US WHO ARE NERVOUS ABOUT USING THE TAX CODE FOR SOCIAL PURPOSES CAN ADVOCATE MAKING THE TAX CODE AT LEAST NEUTRAL A MORE ABSTRACT BUT ULTIMATELY CRUCIAL STEP IN RAISING THE REWARDS OF MARRIAGE IS TO MAKE MARRIAGE ONCE AGAIN THE SOLE LEGAL INSTITUTION THROUGH WHICH PARENTAL RIGHTS AND RESPONSIBILITIES ARE DEFINED AND EXERCISED LITTLE BOYS SHOULD GROW UP KNOWING FROM THEIR EARLIEST MEMORIES THAT IF THEY WANT TO HAVE ANY RIGHTS WHATSOEVER REGARDING A CHILD THAT THEY SIRE MORE VIVIDLY IF THEY WANT TO GROW UP TO BE A DADDY THEY MUST MARRY LITTLE GIRLS SHOULD GROW UP KNOWING FROM THEIR EARLIEST MEMORIES THAT IF THEY WANT TO HAVE ANY LEGAL CLAIMS WHATSOEVER ON THE FATHER OF THEIR CHILDREN THEY MUST MARRY A MARRIAGE CERTIFICATE SHOULD ESTABLISH THAT A MAN AND A WOMAN HAVE ENTERED INTO A UNIQUE LEGAL RELATIONSHIP THE CHANGES IN RECENT YEARS THAT HAVE BLURRED THE DISTINCTIVENESS OF MARRIAGE ARE SUBTLY BUT IMPORTANTLY DESTRUCTIVE TOGETHER THESE MEASURES ADD UP TO A SET OF SIGNALS SOME WITH IMMEDIATE AND TANGIBLE CONSEQUENCES OTHERS WITH LONGTERM CONSEQUENCES STILL OTHERS SYMBOLIC THEY SHOULD BE SUPPLEMENTED BY OTHERS BASED ON A REEXAMINATION OF DIVORCE LAW AND ITS CONSEQUENCES THAT THESE POLICY CHANGES SEEM DRASTIC AND UNREALISTIC IS A PECULIARITY OF OUR AGE NOT OF THE POLICIES THEMSELVES WITH EMBELLISHMENTS I HAVE ENDORSED THE POLICIES THAT WERE THE UNCONTROVERSIAL LAW OF THE LAND AS RECENTLY AS JOHN KENNEDY'S PRESIDENCY THEN AMERICA'S ELITES ACCEPTED AS A MATTER OF COURSE THAT A FREE SOCIETY SUCH AS AMERICA'S CAN SUSTAIN ITSELF ONLY THROUGH VIRTUE AND TEMPERANCE IN THE PEOPLE THAT VIRTUE AND TEMPERANCE DEPEND CENTRALLY ON THE SOCIALIZATION OF EACH NEW GENERATION AND THAT THE SOCIALIZATION OF EACH GENERATION DEPENDS ON THE MATRIX OF CARE AND RESOURCES FOSTERED BY MARRIAGE THREE DECADES AFTER THAT CONSENSUS DISAPPEARED WE FACE AN EMERGING CRISIS THE LONG STEEP CLIMB IN BLACK ILLEGITIMACY HAS BEEN CALAMITOUS FOR BLACK COMMUNITIES AND PAINFUL FOR THE NATION THE REFORMS I HAVE DESCRIBED WILL WORK FOR BLACKS AS FOR WHITES AND HAVE BEEN NEEDED FOR YEARS BUT THE BRUTAL TRUTH IS THAT AMERICAN SOCIETY AS A WHOLE COULD SURVIVE WHEN ILLEGITIMACY BECAME EPIDEMIC WITHIN A COMPARATIVELY SMALL ETHNIC MINORITY IT CANNOT SURVIVE THE SAME EPIDEMIC AMONG WHITES MR MURRAY A FELLOW AT THE AMERICAN ENTERPRISE INSTITUTE IS THE AUTHOR OF LOSING GROUND BASIC 1984 SEE RELATED LETTERS LETTERS TO THE EDITOR A PROFOUND MORAL PARADOX WSJ NOV 15 1993 9310290132 YY93 MM11 9311150011 931020 REVIEW & OUTLOOK EDITORIAL ASIDES LORDS OF THE FLIES THE HOUSE VOTES TODAY ON A CLINTON ADMINISTRATION PROPOSAL TO CONDUCT A NATIONAL BIOLOGICAL SURVEY REP GERRY STUDDS ITS CHIEF SPONSOR SAYS THE SURVEY WILL CATALOG EVERYTHING THAT WALKS CRAWLS SWIMS OR FLIES AROUND THIS COUNTRY OPPONENTS SAY IT WILL SPEND 163 MILLION TO SEND BUREAUCRATS ON TO PRIVATE LAND TO FIND ENDANGERED SPECIES AND HALT DEVELOPMENT INDEED THOMAS LOVEJOY THE INTERIOR DEPARTMENT'S SCIENTIFIC ADVISER SAYS THE SURVEY WOULD DETERMINE DEVELOPMENT FOR THE WHOLE COUNTRY AND REGULATE IT ALL SOUNDS LIKE IT COULD LEAD TO ENDANGERED SPECIES RATHER THAN PEOPLE BECOMING THE LARGEST PROPERTY OWNERS IN THE COUNTRY SEE RELATED LETTER LETTERS TO THE EDITOR MASTER CRITTER LIST MAKES GOOD SENSE WSJ NOV 15 1993 9310200100 YY93 MM11 9311120184 931112 LEISURE & ARTS ON SPORTS COACHES' CRY BRING BACK BAD OLD DAYS BY FREDERICK C KLEIN THE COLLEGE BASKETBALL SEASON DOESN'T START FOR ANOTHER THREE WEEKS BUT THE MEN WHO COACH THE SPORT HAVE BEEN BUSY OF LATE A COUPLE OF WEEKS AGO UNDER THE BANNER OF THE NATIONAL ASSOCIATION OF BASKETBALL COACHES THEY CONVENED IN CHARLOTTE NC FOR AN ISSUES SUMMIT AT WHICH THEY VENTED THEIR DISPLEASURE ABOUT NATIONAL COLLEGIATE ATHLETIC ASSOCIATION LEGISLATION AFFECTING THEIR JOBS THERE WAS FURTHERMORE A PROTEST WITHIN A PROTEST STAGED BY MEMBERS OF THE NABC WHO ALSO ARE MEMBERS OF THE BLACK COACHES ASSOCIATION THIS GROUP BOYCOTTED THE LARGER COACHES' CONFAB TO ATTEND A MEETING OF ITS OWN WITH LEADERS OF THE CONGRESSIONAL BLACK CAUCUS THAT AT LEAST SHOWED THE BLACK COACHES KNOW A THING OR TWO ABOUT DELIVERIES ONE OF THE BEST WAYS TO GET THE NCAA TO PAY ATTENTION TO A MESSAGE IS TO ROUTE IT THROUGH CONGRESS TAKEN TOGETHER THE TWO GROUPS' POINTS ADDED UP TO NOTHING LESS THAN AN ATTEMPT TO ROLL BACK ALMOST ALL OF THE RULES CHANGES INVOLVING MEN'S BASKETBALL THAT THE NCAA HAS ENACTED IN THE PAST HALFDOZEN YEARS IN THE NAME OF CUTTING COSTS AND RAISING ACADEMIC STANDARDS NABC COMPLAINTS CENTERED ON THE TRIMMING OF THE NUMBER OF SCHOLARSHIPS IN THE SPORT TO 13 PER DIVISION I SCHOOL FROM 15 CUTS IN THE NUMBER OF ASSISTANT COACHES AND RESTRICTIONS ON THEIR PAY REDUCTIONS IN PERMISSIBLE PRACTICE TIMES AND THE SHEER BULK OF THE RULES THAT HAVE COME TO SURROUND PLAYER RECRUITMENT AND CONTACT TO THAT LIST THE BCA ADDED CRITICISM OF THE TIGHTENING OF FRESHMAN ELIGIBILITY STANDARDS AND A CALL FOR THE HIRING OF MORE BLACK COACHES AND SPORTS ADMINISTRATORS BY AMONG OTHERS THE NCAA A PLAINTIVE NOTE WAS ADDED BY MIKE KRZYZEWSKI COACH OF DUKE UNIVERSITY'S NATIONAL CHAMPIONSHIP TEAMS OF 1991 AND '92 WHAT COACHES WOULD LIKE IS INPUT NOT ONLY ON LEGISLATION BUT WHERE IT GOES AS WELL HE SAID WE THINK IT'S IMPERATIVE FOR THERE TO BE SENSITIVITY TO PEOPLE AFFECTED BY RULES CHANGES TO ANYONE WHO HASN'T BEEN PAYING ATTENTION TO NCAA DOINGS IN RECENT YEARS COACH K'S PLEA MIGHT HAVE COME AS A SURPRISE FOR MOST OF ITS HISTORY THE ORGANIZATION WAS DOMINATED BY THE ATHLETIC REPRESENTATIVES OF MEMBER SCHOOLS EITHER DIRECTLY OR THROUGH HIGHERUPS WHO TOOK THEIR CUES FROM THEM THE ARRANGEMENT WAS CLUBBY ALL RIGHT BUT IT DIDN'T WORK WELL FOR MANY OF THE STUDENTATHLETES WHOM THE WHISTLEWIELDERS OVERSAW WHEN THE SMELL OF EXPLOITATION GOT BAD ENOUGH DURING THE MID'80S THE COLLEGE PRESIDENTS WHO WERE SUPPOSED TO BE RUNNING THINGS ALL ALONG ACTUALLY STARTED TO DO SO THAT LED TO THE CHANGES AND THE COACHES' PRESENT DISCOMFORT IT MAY WELL BE ARGUED AND I HAVE THAT THE COLLEGE PRESIDENTS ACTING THROUGH THE NCAA PRESIDENTS COMMISSION HAVE SHOWN MORE ZEAL FOR ATHLETIC COSTCUTTING THAN FOR THE SORT OF ACTION THAT MIGHT TRULY EMPHASIZE THE STUDENT PART OF THE STUDENTATHLETE EQUATION THE MAIN THRUST OF THE STANDARDSRAISING EFFORT HAS BEEN NCAA PROPOSITIONS 48 AND 42 WHICH LIMIT FRESHMAN ELIGIBILITY AND ATHLETICSBASED FINANCIAL AID TO STUDENTS WHO HAVE ACHIEVED CERTAIN NOTVERYHIGH SCORES ON NATIONAL COLLEGEENTRY EXAMS THROUGH THAT LEGISLATION THE COLLEGES HAVE IN EFFECT TOLD THE HIGH SCHOOLS TO GET THEIR ACADEMIC ACTS TOGETHER BUT WITHOUT MAKING A SIMILAR COMMITMENT TO CARRYING ON THE JOB ONCE THE KIDS COME UNDER THEIR CARE LIMITS ON PRACTICE TIMES HAVE HELPED BUT IN FOOTBALL THEY'VE BEEN PARTLY NEGATED BY ALLOWING THURSDAYNIGHT GAMES AND EXPANDING THE ALREADY EXCESSIVE SCHEDULE OF POSTSEASON BOWLS THIS HOWEVER DOESN'T WARRANT RETURNING THINGS TO THE BAD OLD DAYS AS THE COACHES SEEM TO WANT IN ASKING FOR FEWER RULES GOVERNING THEIR CONTACT WITH PRESENT AND PROSPECTIVE CHARGES THE COACHES SEEM TO FORGET THAT IT WAS THE ACTIONS OF MEMBERS OF THEIR OWN PROFESSION THAT PROMPTED THE RULES IN THE FIRST PLACE THE BLACK COACHES' CONTENTION THAT THE SCHOLARSHIP REDUCTIONS AND TIGHTER ADMISSIONS STANDARDS FOR JOCKS HAVE WORKED ESPECIALLY TO LIMIT COLLEGEENTRY OPPORTUNITIES FOR YOUNG MEN OF THEIR RACE IS AT LEAST PARTIALLY OFFSET BY HIGHER GRADUATION RATES FOR ALL ATHLETES SINCE THE RULES TOOK EFFECT MOREOVER THERE ARE OTHER WAYS TO GO TO COLLEGE THAN VIA AN ATHLETIC SCHOLARSHIP AND IT'S NOT UNKNOWN FOR SUCH STUDENTS CALLED WALKONS TO MAKE VARSITY TEAMS THE COACHES' GRIPES MIGHT HAVE DESERVED MORE ATTENTION HAD THEY BEEN COUPLED WITH SOME OVERDUE PROPOSALS ABOUT THE DISPOSITION OF ONE SOURCE OF REVENUE THAT'S BEEN SOARING AT A TIME WHEN OTHERS IN COLLEGE SPORTS AND COLLEGES IN GENERAL HAVE BEGUN TO DRY UP I REFER TO THE BIG BUCKS EMANATING FROM MAKERS OF ATHLETIC SHOES THAT EVERMOREINTRUSIVE PART OF THE SPORTS SCENE IN THE PROS THE SHOEENDORSEMENT DOLLARS GO TO THE ATHLETES WHO WEAR 'EM BUT IN THE COLLEGES WHERE THE PLAYERS ARE AMATEURS THEY GO TO THE COACHES WHO CAN TELL THEIR PLAYERS WHAT TO WEAR WHEN THE PAYMENTS WERE SMALL THIS WAS NO BIG DEAL BUT THE ANNUAL SUMS HIGHPROFILE COACHES COULD COMMAND MOVED INTO SIX FIGURES A HALFDOZEN YEARS AGO NOW THE AFOREMENTIONED KRZYZEWSKI REPORTEDLY HAS A PACT WITH NIKE THAT PAYS 1 MILLION UP FRONT AND 375000 A YEAR FOR THE NEXT 15 YEARS WHILE DEAN SMITH HIS COUNTERPART AT THE UNIVERSITY OF NORTH CAROLINA HAS A FOURYEAR DEAL WITH THE SAME COMPANY VALUED AT MORE THAN 4 MILLION KRZYZEWKSI AND SMITH ARE ESTIMABLE FELLOWS AND HAVE ASSIGNED LARGE PARTS OF THEIR WINDFALLS TO THEIR SCHOOLS OR TO CHARITY THAT'S ADMIRABLE BUT ONLY IF YOU START WITH THE PREMISE THAT THEY DESERVE EVEN A CENT OF SUCH MONEY BETTER BY FAR THAT SCHOOL ATHLETIC DIRECTORS DO THE BARGAINING AND SPREAD THE PROCEEDS AMONG ALL THEIR TEAMS WE THEN MIGHT SEE SCHOLARSHIP LEVELS RISE AGAIN AND A REVERSAL OF A DISTRESSING TREND THAT OF SCHOOLS ELIMINATING WHOLE MINOR SPORTS TEAMS IN THE NAME OF ECONOMY TO PARAPHASE EV DIRKSEN A MILLION HERE AND A MILLION THERE AND YOU'RE TALKING REAL MONEY 9311120183 931112 GM SAYS CADILLAC PLANT SET FOR BRIEF SHUTDOWN DETROIT GENERAL MOTORS CORP SAID IT WILL IDLE ITS HAMTRAMCK MICH CADILLAC ASSEMBLY PLANT FOR TWO DAYS BEGINNING MONDAY FOR UNSPECIFIED REASONS SEPARATELY GM SAID IT HAS SCHEDULED OVERTIME AT THREE CAR AND SIX TRUCK ASSEMBLY PLANTS NEXT WEEK CHRYSLER CORP SAID IT WILL OPERATE OVERTIME SHIFTS TOMORROW AND NEXT WEEK AT ASSEMBLY PLANTS IN DETROIT AND STERLING HEIGHTS MICH AND NEWARK DEL IN ADDITION THE AUTO MAKER SAID IT HAS SCHEDULED OVERTIME TOMORROW AT ITS TOLEDO OHIO JEEP PLANT AND NEXT WEEK AT LOCATIONS IN WARREN MICH AND BRAMALEA ONTARIO THE 10 DOMESTIC AUTO MAKERS SAID THEY PLAN TO BUILD 240984 CARS AND TRUCKS THIS WEEK UP 239 FROM THE 194554 VEHICLES BUILT IN THE SAME PERIOD A YEAR AGO IN OCTOBER THE AUTO MAKERS BUILT 1004979 VEHICLES AN INCREASE OF 86 COMPARED WITH 925667 UNITS BUILT IN THE SAME MONTH LAST YEAR 9311120182 931112 KHAN WAS INVOLVED IN STOCK FRAUD WITNESSES TESTIFY BY GAUTAM NAIK STAFF REPORTER OF THE WALL STREET JOURNAL NEW YORK STOCKBROKER RAFI M KHAN WHO WANTS TO CONTROL ICN PHARMACEUTICALS INC WAS INVOLVED IN A STOCK FRAUD AGAINST THE BRITISH GOVERNMENT TWO WITNESSES TESTIFIED MR KHAN'S REPUTATION WAS THE SUBJECT OF A DAYLONG HEARING IN FEDERAL COURT ON THE COMPANY'S EFFORTS TO BLOCK MR KHAN FROM SEEKING TO SOLICIT VOTING CONTROL OF ICN A COSTA MESA CALIF DRUG COMPANY THE WITNESSES A COUSIN OF MR KHAN AND A SCOTLAND YARD DETECTIVE SAID MR KHAN ILLEGALLY MADE MULTIPLE APPLICATIONS FOR SHARES OF BRITISH GAS PLC DURING THE COMPANY'S PRIVATIZATION EFFORTS IN 1986 THE COUSIN TAHIR KHAN ASSERTED THAT HE SEVERAL RELATIVES AND OTHERS HELPED RAFI KHAN CREATE HUNDREDS OF APPLICATIONS TO BUY BRITISH GAS SHARES THE GOVERNMENT HAD IMPOSED RESTRICTIONS ON THE NUMBER OF SHARES AN INDIVIDUAL COULD BUY AND THE SCOTLAND YARD DETECTIVE JACKIE MALTON SAID SHE WOULD ARREST RAFI KHAN IN ENGLAND IF SHE COULD AS PART OF HIS ALLEGED INVOLVEMENT IN THE PLOT IT WASN'T CLEAR IF RAFI KHAN HAS BEEN CHARGED FOR HIS ALLEGED ROLE THE COURT TESTIMONY WHICH INCLUDED COLORFUL TALES OF BODYGUARDS A KIDNAPPING AND A POSSIBLE FAMILY FEUD COMES AT A CRUCIAL JUNCTURE IN ICN'S HISTORY THE COMPANY'S MAIN PROPRIETARY DRUG RIBAVIRIN WHICH IS A TREATMENT FOR A RARE LUNG DISEASE IN INFANTS ALSO APPEARS TO BE A PROMISING TREATMENT FOR HEPAITIS C A LIVER AILMENT AFFLICTING ABOUT 100 MILLION PEOPLE WORLDWIDE MAJOR STUDIES ON SUCH TREATMENT ARE DUE SHORTLY THE COURT HEARING FOLLOWS ICN'S ATTEMPT TO BLOCK RAFI KHAN'S PLANS TO OUST THE CURRENT MANAGEMENT THROUGH A CONSENT SOLICITATION WHICH REQUIRES APPROVAL BY HOLDERS OF A MAJORITY OF ICN'S TOTAL SHARES OUTSTANDING MR KHAN HAS ASSERTED IN THE PAST THAT ICN'S MERCURIAL CHAIRMAN AND FORMER PRIME MINISTER OF YUGOSLAVIA MILAN PANIC WAS EXCESSIVELY COMPENSATED AND PARTLY RESPONSIBLE FOR ICN'S RUNINS WITH REGULATORS TAHIR KHAN SAID HIS COUSIN'S PLAN ENTAILED SUBMITTING HUNDREDS OF APPLICATIONS TO BUY BRITISH GAS SHARES FOR ABOUT 1 MILLION 15 MILLION BY PROVIDING SEVERAL APPLICANT NAMES AND ADDRESSES TAHIR KHAN SAID THAT RAFI KHAN HAD PUT TOGETHER SIMILAR SCHEMES IN THE PAST IN RELATION TO SHARE OFFERINGS OF BRITISH TELECOMMUNICATIONS ROLLS ROYCE TRUSTEE SAVINGS BANK AND OTHER BRITISH COMPANIES BY TRACING THE ADDRESSES ON THE BRITISH GAS APPLICATIONS SCOTLAND YARD DETECTIVES EVENTUALLY LOCATED TAHIR KHAN AT A HOUSE PARTLY OWNED BY RAFI KAHN TAHIR KAHN PLEADED GUILTY TO NINE COUNTS OF MAKING MULTIPLE STOCK APPLICATIONS AND WAS FINED 1500 FOR HIS INVOLVEMENT BUT RAFI KHAN HAD FLED TO THE US BY THEN ACCORDING TO HIS COUSIN RAFI KHAN HAS BOASTED IN THE PAST THAT HE WOULD HAVE THE SUPPORT OF ICN'S 20 LARGEST INSTITUTIONAL INVESTORS IN HIS BID TO CONTROL THE COMPANY HOWEVER THAT SUPPORT COULD ERODE IN THE WAKE OF THE LATEST TESTIMONY POTENTIALLY DAMAGING DISCLOSURES RELATING TO HIS ACTIVITIES AT ICN AND HIS ACTIVITIES RELATING TO OTHER COMPANIES WHOSE STOCKS HE HAS PROMOTED INCLUDING FUTURE COMMUNICATIONS INC A DALLAS CABLE COMPANY MR KHAN RECENTLY QUIT REYNOLDS KENDRICK STRATTON INC A BEVERLY HILLS CALIF BROKERAGE FIRM AFTER HE AND THE FIRM WERE SUED IN CONNECTION WITH THEIR PURCHASE OF FUTURE SHARES RAFI KHAN HAS DENIED ANY WRONGDOING OUTSIDE FEDERAL COURT YESTERDAY RAFI KHAN'S ATTORNEY SAID THE TESTIMONY AGAINST HIS CLIENT DIDN'T ENTIRELY CATCH HIM BY SURPRISE RAFI KHAN AND OTHER WITNESSES HAVE YET TO TAKE THE STAND AND RAFI KHAN WHEN ASKED WHETHER THE TESTIMONY COULD HURT HIS CHANCES REPLIED PASSPORTS CAN'T LIE CAN THEY PERHAPS INDICATING THAT HE INTENDS TO SHOW THAT HE WASN'T IN THE UK WHEN THE ALLEGED BRITISH GAS SCHEME WAS PERPETRATED 9311120181 931112 THURSDAY'S MARKETS STOCK PRICES FINISH MIXED IBM AND AT&T ARE STRONG BY ANITA RAGHAVAN STAFF REPORTER OF THE WALL STREET JOURNAL STOCKS ENDED MIXED WITH THE DOW JONES INDUSTRIAL AVERAGE SLIPPING DESPITE A SPIRITED RALLY AMONG SOME BIG BLUE CHIPS THE DOLLAR WAS MIXED THE INDUSTRIAL AVERAGE FELL 112 POINTS TO 366243 DESPITE STRONG RALLIES IN INTERNATIONAL BUSINESS MACHINES UP 2 1/8 TO 52 AND AMERICAN TELEPHONE & TELEGRAPH UP 1 3/8 TO 56 3/4 STANDARD & POOR'S 500STOCK INDEX EASED 108 TO 46264 AND THE NASDAQ COMPOSITE INDEX GAINED 248 TO 77898 THOMAS GALLAGHER HEAD OF INSTITUTIONAL EQUITIES AT OPPENHEIMER SAID THE MARKET IS SENDING A BARRAGE OF MIXED SIGNALS THE UTILITIES ARE GETTING WHACKED THE TRANSPORTS ARE DOWN AND THERE ARE A LOT OF SIGNS THAT ARE TELLING YOU TO BEWARE BEWARE HE SAID YET THE LARGE NUMBER OF PESSIMISTIC INVESTORS IS SEEN AS BULLISH AS THEY HAVE PLENTY OF CASH TO COMMIT TO STOCKS MR GALLAGHER ADDED THE PRINCIPAL CLOUD OVER THE MARKET IN THE SHORT TERM IS NAFTA SAID STEVEN EINHORN STOCK STRATEGIST AT GOLDMAN SACHS INDEED WHILE US INVESTORS WERE WORRYING ABOUT THE NORTH AMERICAN FREE TRADE AGREEMENT'S PROSPECTS MEXICAN INVESTORS WERE CELEBRATING EARLY WHAT THEY HOPE WILL BE ITS PASSAGE THE MEXICAN BOLSA CLIMBED TO ITS SECONDCONSECUTIVE RECORD WITH A GAIN OF 2102 POINTS OR 103 US BOND MARKETS WERE CLOSED IN OBSERVANCE OF THE VETERANS DAY HOLIDAY WORLDWIDE STOCK PRICES ROSE IN DOLLAR TERMS THE DOW JONES WORLD STOCK INDEX GAINED 023 TO 11074 IN MAJOR MARKET ACTION STOCK PRICES WERE MIXED VOLUME TOTALED 2838 MILLION SHARES ON THE NEW YORK STOCK EXCHANGE WHERE 934 ISSUES ADVANCED AND 1115 DECLINED THE DOLLAR WAS MIXED IN LATE NEW YORK TRADING THE CURRENCY WAS QUOTED AT 16930 MARKS AND 10636 YEN COMPARED WITH 16885 MARKS AND 10715 YEN WEDNESDAY 9311120180 931112 WHO'S NEWS SITHE ENERGIES INC SITHE ENERGIES INC NEW YORK MARTIN B ROSENBERG 33 YEARS OLD WAS NAMED VICE PRESIDENT OF DEVELOPMENT AND PROJECT FINANCE A NEW POSITION MR ROSENBERG WAS MOST RECENTLY AN ATTORNEY WITH MILBANK TWEED HADLEY & MCCLOY IN THE FIRM'S PROJECT FINANCE GROUP 9311120179 931112 WHO'S NEWS KAUFMAN & BROAD HOME CORP KAUFMAN & BROAD HOME CORP LOS ANGELES JANE EVANS 49 WAS NAMED A DIRECTOR OF THIS SINGLEFAMILY HOMEBUILDER SUCCEEDING LOS ANGELES MAYOR RICHARD RIORDAN WHO IS RESIGNING MS EVANS IS VICE PRESIDENT OF U S WEST COMMUNICATIONS HOME AND PERSONAL SERVICES 9311120178 931112 WHO'S NEWS AMERICAN STOCK EXCHANGE AMERICAN STOCK EXCHANGE NEW YORK STEVEN BLOOM 34 YEARS OLD WAS NAMED TO THE NEW POSITION OF CHIEF ECONOMIST RESPONSIBLE FOR THE EQUITY RESEARCH DEPARTMENT OF THIS STOCK EXCHANGE HE HAD BEEN VICE PRESIDENT OF NEW PRODUCTS DEVELOPMENT FOR THE EXCHANGE 9311120176 931112 ASSOCIATED ESTATES' OFFERING MAYFIELD VILLAGE OHIO ASSOCIATED ESTATES REALTY CORP SAID ITS INITIAL PUBLIC OFFERING OF 7250000 COMMON SHARES WAS PRICED YESTERDAY AT 22 A SHARE THROUGH UNDERWRITERS LED BY DEAN WITTER REYNOLDS THE COMPANY SAID IT HAD EXPECTED THE SHARES TO BE OFFERED AT 21 TO 23 EACH THE REAL ESTATE INVESTMENT TRUST SAID IT EXPECTS TO USE THE PROCEEDS TO PAY OFF DEBT AND FOR GENERAL CORPORATE PURPOSES 9311120175 931112 JLG SECONDARY STOCK OFFERING MCCONNELLSBURG PA JLG INDUSTRIES INC SAID IT PRICED A SECONDARY STOCK OFFERING OF 430000 COMMON SHARES AT 1725 A SHARE THE SHARES WERE OFFERED BY JOHN L GROVE HIS WIFE CORA GROVE AND THE SHIPPENSBURG UNIVERSITY FOUNDATION RAYMOND JAMES & ASSOCIATES INC IS THE LEAD UNDERWRITER THE SELLING SHAREHOLDERS HAVE GRANTED THE UNDERWRITERS A 30DAY OPTION TO PURCHASE AS MANY AS 40873 ADDITIONAL COMMON SHARES JLG MAKES HYDRAULIC MACHINERY 9311120174 931112 WHO'S NEWS NATIONSBANK CORP NATIONSBANK CORP CHARLOTTE NC MITCHELL T GRANT 47 YEARS OLD HAS BEEN NAMED TO THE NEW POSITION OF EXECUTIVE VICE PRESIDENT OF NATIONSSECURITIES A JOINT VENTURE OF NATIONSBANK AND DEAN WITTER FINANCIAL SERVICES GROUP INC THE VENTURE WAS FORMED A YEAR AGO TO MARKET INVESTMENT PRODUCTS AND SERVICES MR GRANT PREVIOUSLY WAS DIRECTOR OF AFFILIATED INSTITUTIONS WITH PUTNAM INVESTMENTS IN BOSTON 9311120173 931112 ENRON UNIT TESTS WELL HOUSTON ENRON OIL & GAS CO SAID A SUBSIDIARY'S WELL IN TRINIDAD TESTED AT THE RATE OF 25 MILLION CUBIC FEET OF NATURAL GAS AND 1000 BARRELS OF CONDENSATE A DAY THROUGH A 27/64INCH OPENING THE WELL WAS DRILLED TO A DEPTH OF 15932 FEET THE COMPANY SAID THE WELL IS PART OF THE SOUTHEAST COAST CONSORTIUM BLOCK OFFSHORE TRINIDAD ENRON IS THE OPERATOR AND 95 OWNER OF THE WELL 9311120172 931112 TEMPLEINLAND TO BUILD PLANT DIBOLL TEXAS TEMPLEINLAND INC SAID ITS BOARD APPROVED 62 MILLION TO BUILD A PARTICLEBOARD PLANT THE COMPANY SAID IT IS CONSIDERING SITES IN SOUTHWEST ARKANSAS AND NORTHEAST TEXAS CONSTRUCTION WILL BEGIN IN THE THIRDQUARTER OF 1994 WITH COMPLETION EXPECTED NO LATER THAN THE FIRSTQUARTER OF 1996 9311120171 931112 WHO'S NEWS INTERNATIONAL TECHNOLOGY CORP INTERNATIONAL TECHNOLOGY CORP TORRANCE CALIF LARRY M HART 53 YEARS OLD WAS NAMED TO THE NEW POSITION OF CHIEF OPERATING OFFICER OF THIS ENVIRONMENTAL MANAGEMENT CONCERN MR HART WHO ALSO WILL HOLD THE TITLE OF SENIOR VICE PRESIDENT WILL REPORT TO ROBERT B SHEH PRESIDENT AND CHIEF EXECUTIVE OFFICER MR HART WAS FORMERLY A GROUP EXECUTIVE AT A UNIT OF FLUOR CORP AN IRVINE CALIF ENGINEERING AND CONSTRUCTION COMPANY 9311120170 931112 WHO'S NEWS PEPSICO INC PEPSICO INC PURCHASE NY THE COMPANY'S KFC UNIT NAMED LAURENCE M ZWAIN PRESIDENT OF THE FASTFOOD RESTAURANT CHAIN'S INTERNATIONAL BUSINESS MR ZWAIN 40 YEARS OLD HAD BEEN SENIOR VICE PRESIDENT OF OPERATIONS FOR KFCINTERNATIONAL HE FILLS A JOB THAT HAD BEEN VACANT FOR THE PAST YEAR THE PREVIOUS INTERNATIONAL PRESIDENT WAS ALLAN HUSTON WHO LEFT KFC TO BECOME PRESIDENT AND CHIEF EXECUTIVE OFFICER OF PIZZA HUT ANOTHER PEPSICO DIVISION 9311120169 931112 TRINITECH REPORTS NEW ORDERS STAMFORD CONN TRINITECH SYSTEMS INC SAID IT HAS RECEIVED NEW SALES ORDERS TOTALING ABOUT 650000 FROM THREE CUSTOMERS THE COMPANY SAID THE ORDERS WERE FOR ITS GUIDEDINPUT TOUCHPAD AND TOUCHBASED MULTIPLE SCREEN TRADER WORKSTATION THE ORDERS WERE OBTAINED FROM PREMIER FINANCIAL INSTITUTIONS LOCATED IN THE US AND ABROAD THE COMPANY SAID 9311120168 931112 WHO'S NEWS TALLEY INDUSTRIES INC TALLEY INDUSTRIES INC PHOENIX FRED ISRAEL WAS NAMED A DIRECTOR OF THIS AEROSPACE AND ELECTRONICS CONCERN INCREASING THE BOARD TO 12 MEMBERS MR ISRAEL RECENTLY RETIRED AS SENIOR PARTNER OF WASHINGTON LAW FIRM ISRAEL & RALEY 9311120167 931112 DUPONT ORDERS SUPERCOMPUTER EAGAN MINN DUPONT CO SAID IT ORDERED A CRAY RESEARCH INC C94 SUPERCOMPUTER SYSTEM TERMS WEREN'T DISCLOSED DUPONT SAID THE SYSTEM IS SCHEDULED TO BE INSTALLED AT THE DUPONT EXPERIMENTAL STATION IN WILMINGTON DEL IN THE FIRSTQUARTER OF 1994 REPLACING A FOURPROCESSOR CRAY YMP SYSTEM 9311120166 931112 WHO'S NEWS ALLSTATE CORP ALLSTATE CORP NORTHBROOK ILL JAMES G ANDRESS 54 YEARS OLD VICE CHAIRMAN AND CHIEF EXECUTIVE OFFICER OF INFORMATION RESOURCES INC A MARKET RESEARCH COMPANY WAS ELECTED A DIRECTOR OF THIS PROPERTY AND CASUALTY INSURANCE COMPANY INCREASING THE BOARD TO NINE MEMBERS 9311120165 931112 VIRGIN BLOCKBUSTER OPEN STORE LOS ANGELES VIRGIN GROUP PLC'S VIRGIN RETAIL GROUP LTD AND BLOCKBUSTER ENTERTAINMENT CORP HAVE OPENED A US VIRGIN MEGASTORE IN COSTA MESA CALIF THE COMPANIES SAID THE VIRGIN MEGASTORE REPRESENTS THE INAUGURAL EFFORT OF A JOINT VENTURE BETWEEN VIRGIN RETAIL GROUP AND BLOCKBUSTER ENTERTAINMENT UNDER THE AGREEMENT AN ESTIMATED 50 SUCH RETAIL OUTLETS WILL OPEN THROUGHOUT THE US OVER THE NEXT FIVE YEARS THE COMPANIES SAID 9311120164 931112 SOUTHTRUST PURCHASE IS CLEARED ATLANTA BMR FINANCIAL GROUP INC AND SOUTHTRUST CORP SAID SOUTHTRUST RECEIVED FEDERAL RESERVE BOARD APPROVAL FOR THE ACQUISITION OF BMR FINANCIAL AS PREVIOUSLY REPORTED BMR FINANCIAL SHAREHOLDERS APPROVED THE PLAN WITH EACH BMR SHARE OUTSTANDING TO BE PURCHASED BY SOUTHTRUST FOR 630 AT SEPT 30 BMR FINANCIAL HAD 2538644 SHARES OUTSTANDING THE COMPANIES SAID THE TRANSACTION SHOULD BE COMPLETED BY DEC 9311120163 931112 SYSTEMED CONTRACT IN GEORGIA LAGUNA HILLS CALIF SYSTEMED INC RECEIVED A CONTRACT TO PROVIDE MANAGED PHARMACEUTICAL DRUG BENEFIT SERVICES FOR THE MORE THAN 450000 MEMBERS OF BLUE CROSS AND BLUE SHIELD OF GEORGIA SYSTEMED SAID THAT UNDER THE THREEYEAR CONTRACT ITS INSURX INC UNIT WILL ESTABLISH AND MAINTAIN CONVENIENCE AND PREFERRED RETAIL PHARMACY NETWORKS AND WILL ADMINISTER THE PROCESSING OF PAPER AND ELECTRONIC NETWORK PRESCRIPTION DRUG CLAIMS SYSTEMED ALSO WILL ESTABLISH AND ADMINISTER A MAIL SERVICE PHARMACY PROGRAM THROUGH ITS AMERICA'S PHARMACY INC UNIT THE CONTRACT TERM BEGINS IN MARCH 1994 THE COMPANY SAID 9311120162 931112 TECHNOLOGY MOTOROLA BUYS SOFTWARE MAKER LEXICUS TO WIDEN ROLE IN PENBASED PC MARKET BY MARILYN CHASE STAFF REPORTER OF THE WALL STREET JOURNAL MOTOROLA INC ANGLING FOR A STRONGER POSITION IN THE FLEDGLING MARKET FOR PENBASED NOTEBOOK COMPUTERS SAID IT ACQUIRED TINY LEXICUS CORP OF PALO ALTO CALIF A CLOSELY HELD DEVELOPER OF HANDWRITINGRECOGNITION SOFTWARE TERMS WEREN'T DISCLOSED THE DEAL PLUNGES THE SCHAUMBURG ILL ELECTRONICS GIANT INTO A MARKET SO FAR MARKED BY SEVERAL SPLASHY BUT SOMEWHAT DISAPPOINTING DEBUTS APPLE COMPUTER INC'S NEWTON MESSAGEPAD FOR INSTANCE HAS BEEN ROUNDLY CRITICIZED FOR ITS POOR HANDWRITINGRECOGNITION ABILITIES STILL THE MOTOROLA ACQUISITION COULD BE VIEWED AS THE CRITICAL PIECE IN ADVANCING THE HANDHELD MARKET SAID BRUCE STEPHEN AN ANALYST WITH INTERNATIONAL DATA CORP OF FRAMINGHAM MASS HE SAID THE ACQUISITION MAKES SENSE GIVEN THAT BIG COMPANIES LIKE INTERNATIONAL BUSINESS MACHINES CORP AND AMERICAN TELEPHONE & TELEGRAPH CO ARE SNAPPING UP PIECES OF THE TECHNOLOGY MOTOROLA HAS ALREADY LICENSED THE NEWTON OPERATING SYSTEM FROM APPLE AND TWO OTHER PENBASED SYSTEMS FROM GENERAL MAGIC INC AND MICROSOFT CORP THAT DON'T ATTEMPT TO TRANSLATE HANDWRITING INTO DIGITAL FORM MOTOROLA'S ACQUISITION OF LEXICUS IS AN ADDITIONAL BET THAT HANDWRITING RECOGNITION WILL EVENTUALLY HELP ITS ALREADY STRONG POSITION IN TWO OTHER TECHNOLOGIES WIRELESS ELECTRONICS AND SEMICONDUCTORS THAT ARE ESSENTIAL TO A CLASS OF SMALL HANDHELD COMPUTERS EXPECTED EVENTUALLY TO BECOME COMMONPLACE TOOLS FOR AN INCREASINGLY MOBILE WORK FORCE WIRELESS COMMUNICATIONS AND ACCURATE HANDWRITINGRECOGNITION SOFTWARE ARE ESSENTIAL FOR THE SUCCESS OF A NEW CLASS OF HANDHELD COMPUTING AND COMMUNICATING PRODUCTS NOW COMING TO MARKET SAID BOB GROWNEY MOTOROLA EXECUTIVE VICE PRESIDENT AND GENERAL MANAGER OF THE PAGING & WIRELESS DATA GROUP BUT MOTOROLA DIDN'T ELABORATE ON HOW PRECISELY IT PLANS TO USE THE TECHNOLOGY OR WHEN IT WILL ENTER THE MARKET WITH PRODUCTS IT SAID IT WILL DETAIL ITS PRODUCT PLANS FOR THE NEW TECHNOLOGY AT A LAS VEGAS CONSUMERELECTRONICS SHOW IN JANUARY MOTOROLA SAID LEXICUS WILL BECOME A WHOLLY OWNED SUBSIDIARY UNDER THE COMPANY'S PAGING & WIRELESS DATA GROUP AND WILL BE RUN BY LEXICUS'S CURRENT MANAGEMENT CONSISTING OF FEWER THAN 10 PROFESSIONALS IN THEIR EARLY THIRTIES LEXICUS'S SIGNATURE PRODUCT IS A PROGRAM CALLED LONGHAND WHICH CURRENTLY SELLS FOR 495 AND IS SO FAR AIMED PRIMARILY AT SOFTWARE DEVELOPERS AND CORPORATE DATAPROCESSING PROFESSIONALS LONGHAND CAN RECOGNIZE CURSIVE WRITING PRINT AND A COMBINATION OF THE TWO AND HAS HANDWRITINGRECOGNITION ACCURACY OF ABOUT 85 TO 90 ACCORDING TO LEXICUS'S 31YEAROLD FOUNDER AND CHIEF EXECUTIVE OFFICER RONJON NAG APPLE'S MESSAGEPAD BY CONTRAST HAS AN ACCURACY RATE OF AS LOW AS 80 ACCORDING TO ANDREW SEYBOLD EDITOR OF OUTLOOK ON MOBILE COMPUTING DR NAG SAID LONGHAND CAN WORK IN CONCERT WITH A VARIETY OF COMPUTER APPLICATIONS SOFTWARE AND CAN BRIDGE DIFFERENT VENDORS' COMPUTER ARCHITECTURES THE ALLIANCE WITH MOTOROLA WILL ACCELERATE THE MARKET FOR THESE SMALL PENBASED MACHINES HE SAID SOME ANALYSTS SAID THE PURCHASE IS A BIG VOTE OF CONFIDENCE IN PENBASED COMMUNICATIONS DEVICES MOTOROLA IS POSITIONING ITSELF TO BE A BIG PLAYER SAID ANALYST JANET COLE OF DATAQUEST INC THEY'RE BUYING INTO THE BELIEF THAT PERSONAL COMPUTERS WILL BE PENBASED BUT OTHERS WERE SKEPTICAL THIS JUST SHOWS ME MOTOROLA DOESN'T GET IT SAID MR SEYBOLD WHILE HE GRANTED THAT LEXICUS HAS REALLY INTERESTING TECHNOLOGY HE INSISTED THAT NOBODY'S GOOD ENOUGH AT HANDWRITING RECOGNITION YET MOREOVER HE SAID THE ULTIMATE MARKET FOR HANDHELD DEVICES IS POORLY UNDERSTOOD THE INITIAL SALES OF WIRELESS TECHNOLOGY WILL BE TO COMPUTERLITERATE PEOPLE WHO NEED TO GET TO THEIR DESKTOP OR THEIR EMAIL HE SAID TO DO THAT YOU NEED A KEYBOARD MAYBE MOTOROLA'S BUYING LEXICUS BECAUSE THEY WANT THE TECHNOLOGY THREE YEARS FROM NOW MR SEYBOLD SAID MAYBE IT'S A LOTTERY TICKET 9311120161 931112 WASHINGTON MUTUAL SAVINGS SEATTLE WASHINGTON MUTUAL SAVINGS BANK SAID IT PLANS TO OPEN FIVE NEW BRANCHES IN GROCERY STORES IN WASHINGTON IN THE NEXT TWO WEEKS THE COMPANY SAID THE NEW FINANCIAL CENTERS WHICH ARE ALL LOCATED IN FRED MEYER INC STORES WILL INCREASE WASHINGTON MUTUAL'S INSTORE NETWORK TO 66 THE COMPANY SAID NEARLY 30 OF ITS 228 FINANCIAL CENTERS ARE INSTORE LOCATIONS 9311120160 931112 PTT TELECOM SIGNS PACT AMSTERDAM PTT TELECOM NETHERLANDS SAID IT HAS SIGNED A BUSINESS COOPERATION PACT WITH PT TELKOM INDONESIA PTT IS A SUBSIDIARY OF DUTCH STATE POSTAL AND TELECOMMUNICATIONS MONOPOLY KONINKLIJKE PTT NEDERLAND NV THE AGREEMENT IS AIMED AT JOINING FORCES IN CERTAIN BUSINESS AREAS IN SOUTHEAST ASIA IT FORMALIZES AND EXTENDS EXISTING COOPERATION THAT KONINKLIJKE PTT SAID WAS PREVIOUSLY CONDUCTED ON AN AD HOC BASIS MOBILE TELECOMMUNICATION AND BUSINESS OVERLAY NETWORKS ARE AMONG THE AREAS FOR COOPERATION A SPOKESWOMAN FOR PTT TELECOM SAID 9311120159 931112 WHO'S NEWS AUTOZONE INC AUTOZONE INC MEMPHIS TENN LAWRENCE E EVANS 49 YEARS OLD FORMERLY VICE PRESIDENT OF REAL ESTATE WAS PROMOTED TO SENIOR VICE PRESIDENT/DEVELOPMENT FOR THIS AUTOPARTS RETAILER HE SUCCEEDS THOMAS L WARTINGER 55 WHO IS RETIRING DEC 31 9311120158 931112 INTERNATIONAL ANALYSTS SAY MERCEDESBENZ MAY OPT TO KEEP PRODUCTION OF ITS NEW SUBCOMPACT IN GERMANY SPECIAL TO THE WALL STREET JOURNAL FRANKFURT MERCEDESBENZ AG IS EXPECTED TO ANNOUNCE BY YEAR END WHERE IT PLANS TO BUILD ITS NEW SUBCOMPACT CITY CAR AND SUDDENLY THE ODDS ARE BACK ON A GERMAN SITE RATHER THAN ONE OUTSIDE THE COUNTRY YESTERDAY MERCEDES CONFIRMED THAT LOW COSTS AND LOW WAGES RANK AS IMPORTANT CONSIDERATIONS IN CHOOSING THE PLANT FOR ITS VISION A CITYCAR MODEL TO GO INTO PRODUCTION IN 1997 CONSIDERATIONS THAT HINT A FOREIGN LOCATION WOULD BE MORE LOGICAL YET MANY CARINDUSTRY WATCHERS BELIEVE THAT A MORE ACCOMMODATING STANCE RECENTLY DEMONSTRATED BY UNIONS MIGHT HELP PERSUADE MERCEDES TO BUILD THE HATCHBACK IN GERMANY YESTERDAY SPOKESMAN CHRISTIAN DAU CONFIRMED THAT THE COMPANY IS EXAMINING SITES IN FRANCE THE UK THE CZECH REPUBLIC AND ITS EXISTING FACTORY IN RASTATT GERMANY MANY CONSIDERED THE CZECH REPUBLIC TO BE THE FRONTRUNNER AS WAGES THERE ARE CONSIDERABLY LOWER THAN IN GERMANY BUT THE UNDERUTILIZED RASTATT PLANT IS THE MOST MODERN AND SOPHISTICATED OF ALL MERCEDES'S GERMANBASED AUTO WORKS AND WHILE UNIONS THERE MIGHT NOT AGREE TO WAGE CUTS ANALYSTS BELIEVE THEY MIGHT FOR INSTANCE BE WILLING TO OUT SOURCE MORE OF THE PARTS AND BUILD LESS ON SITE THE PENDULUM HAS SWUNG AWAY FROM THE CZECH REPUBLIC AND TOWARD RASTATT SAID ONE AUTOINDUSTRY ANALYST REVERSING HIS PREDICTION FROM LAST SUMMER A DECISION TO ASSEMBLE THE NEW CAR IN GERMANY WOULD REPRESENT A DEVIATION FROM MERCEDES'S RECENT STRATEGY TO SHIFT SOME OF ITS PASSENGERCAR PRODUCTION OUTSIDE GERMANY WHERE COSTS ARE HIGH IN JANUARY MERCEDES DECIDED TO BUILD MINIVANS IN SPAIN IN FEBRUARY IT SAID IT WOULD DEVELOP AND BUILD A NEW CAR IN SOUTH KOREA WITH SSANGYONG MOTOR CO IN APRIL IT RESOLVED TO BUILD ITS NEW JEEPLIKE UTILITY SPORT CAR IN THE US IT ALSO ANNOUNCED A SERIES OF TRUCK AND BUS PROJECTS IN PLACES SUCH AS UZBEKISTAN AND MEXICO THE NEW FUELEFFICIENT SUBCOMPACT PROTOTYPE VISION A CAR A SHARP DEPARTURE FROM MERCEDES'S TIMEHONORED LUXURYSEDAN STRATEGY WAS UNVEILED IN SEPTEMBER AT THE FRANKFURT AUTO SHOW THE VISION A WILL BE THE LEAST EXPENSIVE MERCEDES CAR LESS THAN THE COMPACT CCLASS SEDANS ANALYSTS SAID MERCEDES WILL NEED LOW COSTS TO PRODUCE A CAR THAT CAN COMPETE IN THE CROWDED LOWERPRICED SUBCOMPACTCAR MARKET MERCEDES THE CAR UNIT OF GERMANY'S DAIMLERBENZ AG GROUP IS IN THE THROES OF A DEEP RETRENCHMENT TO REDUCE ITS COSTS AND INCREASE COMPETITIVENESS IN SEPTEMBER MERCEDES ANNOUNCED 27000 JOB CUTS FOR 1993 AND 1994 THE COMPANY CONCEDES THAT ITS COSTS ARE 30 HIGHER THAN MANY OF ITS COMPETITORS 9311120157 931112 INCINERATOR SHORT ON WASTE BECOMES BURDEN CONNECTICUT SITE'S WOES REFLECT WIDER PROBLEM AS TRASH TRAILS FORECAST BY JEFF BAILEY STAFF REPORTER OF THE WALL STREET JOURNAL A 140 MILLION TRASH INCINERATOR IN SOUTHEASTERN CONNECTICUT THE LATEST BIG ENVIRONMENTAL INVESTMENT TO RUN INTO TROUBLE HAS BECOME A FINANCIAL BURDEN ON ITS CORPORATE OPERATORS AND THE MUNICIPALITIES THAT SPONSORED THE PROJECT RUN BY AMERICAN REFFUEL CO A JOINT VENTURE BETWEEN BROWNINGFERRIS INDUSTRIES INC AND AIR PRODUCTS & CHEMICALS INC THE 600TONPERDAY TRASH BURNER HAS BEEN HIT BY LOWERTHANEXPECTED WASTE VOLUMES FROM SURROUNDING TOWNS FORCING SHARPLY HIGHER DUMP FEES ON THE COMMUNITIES THAT PATTERN IS PLAYING OUT ALL ACROSS THE WASTE INDUSTRY HUGE CAPITAL INVESTMENTS MADE ON THE ASSUMPTION OF RISING WASTE VOLUMES INCREASINGLY ARE HURTING THE RECESSION AND RECYCLING AS WELL AS ELABORATE WASTEMINIMIZATION EFFORTS BY INDUSTRY HAVE CUT DEEPLY INTO GARBAGE AND HAZARDOUS WASTE VOLUMES THE TREND HAS SENT STOCKS IN THE WASTE BUSINESS TUMBLING OVER THE LAST TWELVE MONTHS IN PRESTON CONN THE REFFUEL PLANT'S DUMP FEE TO MEMBER TOWNS WAS BOOSTED ON JULY 1 TO 98 A TON FROM 79 ONE OF THE HIGHEST RATES IN THE US TO MAKE UP FOR A SHORTAGE OF GARBAGE THE HIGHER FEE IN TURN ENCOURAGED SOME HAULERS TO DUMP ELSEWHERE FURTHER ERODING VOLUME AND THUS THREATENING STILL ANOTHER PRICE INCREASE WHAT'S KNOWN AS THE DEATH SPIRAL IN THE TRASH INDUSTRY TRASH FROM OUTSIDE THE AREA IS TAKEN IN A DOLLAR RANGE IN THE 40S PER TON AT THE PRESTON PLANT THE MEMBER TOWNS HAVE A LONGTERM CONTRACT THAT REQUIRES THEY PAY A FIXED AMOUNT REGARDLESS OF VOLUME THE PLANT OPENED IN 1992 IN SEPTEMBER A NEW HAMPSHIREVERMONT MUNICIPALWASTE AUTHORITY CAUGHT IN A SIMILAR SPIRAL PAYING 9650 A TON BECAUSE OF A SHORTAGE WHILE OUTSIDE TRASH IS DUMPED AS LOW AS 40 FILED FOR BANKRUPTCYLAW PROTECTION HELENA BARTHELL EXECUTIVE DIRECTOR OF THE SOUTHEASTERN CONNECTICUT REGIONAL RESOURCES RECOVERY AUTHORITY WHICH REPRESENTS THE 11 TOWNS THAT SPONSORED THE PRESTON PLANT WORRIED BRIEFLY SHE WAS WITNESSING THE GHOST OF CHRISTMAS FUTURE MS BARTHELL'S AUTHORITY ISN'T CONTEMPLATING A BANKRUPTCYCOURT FILING HOWEVER AND IS TAKING A SERIES OF STEPS AIMED AT IMPROVING THE PROJECT'S FINANCES BUT THROUGH THE FISCAL YEAR ENDING IN JUNE 1994 CONDITIONS COULD WORSEN ATTRACTING TRASH VOLUME IN THE AREA BEYOND THE MEMBER TOWNS COULD BECOME MORE DIFFICULT BECAUSE A RIVAL 500TONPERDAY INCINERATOR IS UNDER CONSTRUCTION LESS THAN 20 MILES AWAY IN LISBON CONN ITS OWNER WMX TECHNOLOGIES INC HAS BEEN SIGNING LONGTERM CONTRACTS WITH MUNICIPALITIES IN THE STATE IN A DOLLAR RANGE IN THE 50S PER TON CONNECTICUT WASTE OFFICIALS OPPOSED THE WMX PLANT BECAUSE THEY SAID IT WAS UNNEEDED AND WOULD UNDERMINE THE PRESTON PLANT AND OTHERS IN THE STATE MS BARTHELL AND REFFUEL OFFICIALS HOWEVER BELIEVE A SERIES OF MEASURES THEY'RE TAKING WILL IMPROVE RESULTS AND OVER TIME MAKE THE PRESTON PLANT PROFITABLE WE'RE TRYING TO DIG OUT OF THIS TOGETHER SAID W DOUGLAS BROWN A REFFUEL VICE PRESIDENT WE UNDERSTAND THEY HAVE FINANCIAL PROBLEMS THEY UNDERSTAND WE HAVE FINANCIAL PROBLEMS OVERALL REFFUEL WHICH OPERATES OTHER PLANTS IS PROFITABLE HE SAID THE AUTHORITY HOPES TO REFINANCE ITS 102 MILLION DEBT ON THE PROJECT TO TAKE ADVANTAGE OF LOWER INTEREST RATES WHICH COULD SAVE AS MUCH AS 3 MILLION A YEAR ITS ASHDISPOSAL COSTS COULD ALSO DROP AS THE AUTHORITY OPENS ITS OWN ASH DUMP SOON AND A PROPOSED 90TONADAY INCREASE IN THE PLANT'S PERMITTED CAPACITY WOULD BRING IN MORE MONEY FOR BOTH SIDES I THINK THIS PROJECT WILL BE ALL RIGHT IN A COUPLE OF YEARS SAYS DAVID N GUTACKER ANOTHER REFFUEL VICE PRESIDENT MOODY'S INVESTORS SERVICE INC WHICH SAID IT RATES THE PRESTON PLANT BONDS A SINGLEA BECAUSE OF SOME CREDIT SUPPORT FROM THE STATE ADDED THAT IT DOESN'T THINK THE PROBLEMS WILL PREVENT A REFINANCING OF THE DEBT 9311120156 931112 CREDIT MARKETS TREASURY FUTURES FALL MODERATELY ON INFLATION FEARS BY CLIFTON LINTON SPECIAL TO THE WALL STREET JOURNAL WHILE MOST MARKETS WERE CLOSED FOR THE VETERANS DAY HOLIDAY INTERESTRATE FUTURES POSTED MODERATE LOSSES AS ANXIETY ABOUT ECONOMIC DATA PERSISTED FEARS OF HEIGHTENED INFLATION HAVE SENT BOND PRICES LOWER DURING THE PAST MONTH MORE NEWS WILL COME TODAY WHEN THE US COMMERCE DEPARTMENT IS SCHEDULED TO REPORT OCTOBER RETAIL SALES DATA INFLATION ERODES THE VALUE OF FIXEDINCOME INVESTMENTS FITCH INVESTORS SERVICE SAID A RECORD 84 BILLION IN CORPORATE BONDS WERE CALLED OR REDEEMED EARLY THROUGH THE END OF OCTOBER AND ANOTHER 70 BILLION IN BONDS ARE VULNERABLE TO CALLS BY YEAR'S END IF INTEREST RATES REMAIN STABLE WITHOUT THE LIQUIDITY OF THE CASH MARKET TRADING IN FUTURES IN CHICAGO WAS THIN PRICES STAYED MOSTLY WITHIN TRADING RANGES TREASURYBOND FUTURES FOR DECEMBER SETTLED 19/32 LOWER AT 115 25/32 AFTER TRADING BETWEEN 115 24/32 AND 116 14/32 ON DAYS LIKE TODAY WHEN YOU HAVE TREASURY CASH TRADERS OUT A LOT OF INSTITUTIONAL TRADERS ARE RELUCTANT TO PARTICIPATE SAID JIM COLLINS SENIOR VICE PRESIDENT WITH SMITH BARNEY SHEARSON IN CHICAGO HE CALLED TRADING VERY LIGHT ACCORDING TO A SURVEY OF ECONOMISTS BY DOW JONES CAPITAL MARKETS REPORT RETAIL SALES SHOULD POST A SOLID 1 RISE EXCLUDING AUTOMOBILES SALES ARE EXPECTED TO GAIN 05 THE STORY HERE IS AUTOS SAID PETER GREENBAUM ECONOMIST WITH SMITH BARNEY SHEARSON LAST YEAR WE HAD A BIG SURGE IN OCTOBER BUT WE DON'T EXPECT TO SEE THAT AGAIN THIS YEAR MANY TRADERS ARE ANXIOUS ABOUT THE NUMBERS RETAIL SALES WILL BE THE LINCHPIN MR COLLINS SAID WE HAD CHAIN STORE SALES LAST WEEK AND THEY WERE KIND OF A MIXED BAG THERE IS AN IDEA THAT THE CONSUMER IS BEING STINGY WITH DISCRETIONARY DOLLARS NOW WE WANT TO SEE ON THE CONSUMPTION SIDE WHAT IS GOING ON ABOUT 3800 INVESTMENTGRADE CORPORATE BONDS REPRESENTING 632 BILLION THREEQUARTERS OF INVESTMENTGRADE ISSUES ARE OUTSTANDING THE FITCH STUDY SAID THEY PROTECT INVESTORS AGAINST UNEXPECTED CALLS THE AVERAGE COUPON OF NONCALLABLE BONDS IS 797 BELOW THE AVERAGE 828 COUPON OF BONDS CALLED IN THE THIRD QUARTER ACCORDING TO THE REPORT BY FITCH AND ANDREW KALOTAY ASSOCIATES TWENTYSEVEN PERCENT OF BONDS CALLED THIS YEAR BORE INTEREST BELOW 8 EARLY REDEMPTIONS THIS YEAR EXCEED 1992'S 67 BILLION TOTAL THE STUDY SAID GIVEN CURRENT INTEREST RATES MANY NONCALLABLE BONDS ARE CANDIDATES FOR TENDER OFFERS AND OPENMARKET REPURCHASE PROGRAMS IN WHICH THE ISSUER PAYS A PREMIUM THE STUDY CONCLUDED HOWEVER THE HIGH PRICES NECESSARY TO BUY BACK THESE BONDS COULD DETER ISSUERS 9311120155 931112 WHO'S NEWS STRATUS COMPUTER TO NAME EXECUTIVE PRESIDENT AND COO BY WILLIAM M BULKELEY STAFF REPORTER OF THE WALL STREET JOURNAL STRATUS COMPUTER INC COPING WITH SLOWING SALES PLANS TO NAME ITS CHIEF FINANCIAL OFFICER TO THE POSTS OF PRESIDENT AND CHIEF OPERATING OFFICER FOUNDER WILLIAM FOSTER 49 YEARS OLD WILL REMAIN CHAIRMAN AND CHIEF EXECUTIVE GARY HAROIAN 42 A 10YEAR VETERAN OF THE 13YEAROLD MARLBOROUGH MASS COMPANY WILL BE NAMED PRESIDENT AT A COMPANY MEETING TODAY MR FOSTER SAID EXPECTATIONS OF MR HAROIAN'S APPOINTMENT AND HIS BACKGROUND AS AN ACCOUNTANT HAVE LED SOME EMPLOYEES AND CONSULTANTS TO PREDICT THAT STRATUS WILL UNDERTAKE ANOTHER ROUND OF COSTCUTTING POSSIBLY INCLUDING MORE LAYOFFS MR FOSTER SAID THAT MR HAROIAN'S APPOINTMENT DOESN'T SIGNAL MORE CUTBACKS UNTIL RECENTLY STRATUS HAD BEEN ALMOST ALONE AMONG MAKERS OF LARGE COMPUTER SYSTEMS TO INCREASE ANNUAL SALES AND EARNINGS HOWEVER IN JULY THE MAKER OF FAULTTOLERANT COMPUTERS PREDICTED THAT EARNINGS FOR THE YEAR WOULD BE SLIGHTLY BELOW LAST YEAR'S 569 MILLION OR 243 A SHARE REVENUE FOR THE YEAR IS EXPECTED TO BE UP ABOUT 5 FROM 4863 MILLION STRATUS LAST MONTH ANNOUNCED PLANS TO REDUCE ITS WORK FORCE BY ABOUT 6 OR 160 PEOPLE BY YEAR'S END ITS THIRDQUARTER EARNINGS OF 114 MILLION OR 48 CENTS A SHARE INCLUDED A RESTRUCTURING CHARGE OF 38 MILLION OR 13 CENTS A SHARE FOR SEVERANCE PAYMENTS MR FOSTER SAID THE LAYOFFS HAVE BEEN COMPLETED AND NONE ARE PLANNED THAT ASSERTION MAY DISAPPOINT WALL STREET THEIR RESTRUCTURING WASN'T AS SIZABLE AS OTHER COMPANIES IN THE INDUSTRY SAID SHAO WANG AN ANALYST WITH SMITH BARNEY SHEARSON BEING MORE EXPEDITIOUS IN CUTTING COSTS ISN'T A BAD THING HE ADDED HOWEVER HE NOTED THAT STRATUS'S PROBLEMS ARE MUCH LESS DRASTIC THAN OTHER COMPUTER MAKERS THEIR GROWTH RATE ISN'T WHAT IT HAS BEEN IN THE PAST BUT THE OVERALL PERFORMANCE HAS REALLY NOT BEEN BAD HE SAID STRATUS'S SHARES HIT A 1993 HIGH OF 4125 IN MAY BUT HAVE BEEN UNDER 30 SINCE ANNOUNCING THE LOWERED EARNINGS OUTLOOK STRATUS WAS DOWN 625 CENTS AT 27375 IN LATE NEW YORK STOCK EXCHANGE COMPOSITE TRADING YESTERDAY SOME STRATUS EMPLOYEES FEAR THAT MR HAROIAN'S APPOINTMENT THREATENS A CHANGE IN THE COMPANY'S ENGINEERDOMINATED CULTURE ONE BOSTON EXECUTIVE RECRUITER SAID HE HAD BEEN DELUGED WITH RESUMES FROM STRATUS MANAGERS IN RECENT WEEKS HOWEVER MR FOSTER WHO IS AN ENGINEER SAID THERE WON'T BE ANY MAJOR OPERATING DECISIONS WE WON'T BOTH BE INVOLVED IN ONE DIRECTOR PAUL FERRI A BOSTON VENTURE CAPITALIST WITH MATRIX PARTNERS SAID THE BOARD IS BEHIND MR FOSTER STRATUS STANDS OUT AS A STAR PERFORMER AMONG COMPUTER MAKERS HE SAID MR HAROIAN'S APPOINTMENT REPRESENTS WHAT HAS BEEN BILL'S PLAN NOT ANYBODY ELSE'S PLAN HE ADDED STRATUS HAS ANNOUNCED A STRATEGY TO SPEED ITS GROWTH BY EMPHASIZING CERTAIN MARKETS SUCH AS BANKING TRAVEL TELECOMMUNICATIONS AND GAMING AND BUYING SOFTWARE COMPANIES THAT OPERATE IN THEM 9311120154 931112 ECOLOGY SCHOLARS RECEIVE AT&T RESEARCH GRANTS NEW YORK THE AT&T FOUNDATION SAID IT AWARDED FELLOWSHIP GRANTS TOTALING 300000 TO SIX SCHOLARS IN THE FIELD OF INDUSTRIAL ECOLOGY THE RENEWABLE ONEYEAR 50000 GRANTS ARE PART OF AN INITIATIVE TO SUPPORT RESEARCH INTO ELIMINATING OR REDUCING ENVIRONMENTAL IMPACTS OF PRODUCTS INCLUDING THE WAY THEY ARE DESIGNED MANUFACTURED USED AND FINALLY DISPOSED THE ARM OF AMERICAN TELEPHONE & TELEGRAPH CO INTENDS TO COMMIT AS MUCH AS 1 MILLION OVER THE NEXT FIVE YEARS TO THE FIELD RECEIVING THE AWARDS WILL BE FACULTY MEMBERS AT THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY NEW YORK UNIVERSITY PRINCETON UNIVERSITY SPELMAN COLLEGE THE UNIVERSITY OF CALIFORNIA AT LOS ANGELES AND THE UNIVERSITY OF MICHIGAN THE GRANTS WILL SUPPORT A VARIETY OF PROJECTS INCLUDING EXPLORING THE RECYCLING POTENTIAL OF HOUSEHOLD PLASTICS DEVISING METHODS OF ASSESSING EXPOSURE TO LEAD AND OTHER TOXIC SUBSTANCES AND DEVELOPING A STRAIN OF MICROORGANISMS CAPABLE OF REMOVING TOXIC METALS FROM SEWAGE 9311120153 931112 MEDICAL CARE AMERICA EXPANSION DALLAS MEDICAL CARE AMERICA INC SAID IT ACQUIRED TWO SURGICAL CENTERS IN ORANGE COUNTY CALIF FROM PHYSICIAN GROUPS IN SEPARATE TRANSACTIONS TERMS WEREN'T DISCLOSED THE PROVIDER OF MEDICAL SERVICES ALSO SAID IT HAS OPENED A SURGICAL CENTER IN CHATTANOOGA TENN AND WILL OPEN ANOTHER IN PROVIDENCE RI BY THE END OF 1993 9311120152 931112 TECHNOLOGY APPLE TO UNVEIL PC THAT RUNS WINDOWS ALSO BY JIM CARLTON STAFF REPORTER OF THE WALL STREET JOURNAL APPLE COMPUTER INC IN A DEPARTURE FROM ITS PROPRIETARY STRATEGY IS ABOUT TO UNVEIL A MACINTOSH PERSONAL COMPUTER THAT CAN OPERATE AS AN IBMCOMPATIBLE MACHINE AND USE MICROSOFT CORP'S POPULAR WINDOWS OPERATING SOFTWARE OFFICIALS AT APPLE IN CUPERTINO CALIF WOULD NOT COMMENT BUT ACCORDING TO SOURCES FAMILIAR WITH APPLE THE COMPANY WILL ANNOUNCE NEXT WEEK A MACINTOSH FEATURING AN ADDON BOARD THAT WOULD ENABLE THE USER TO SWITCH FROM AN APPLE PROGRAM TO A WINDOWS PROGRAM BASED ON AN INTEL CORP 486 MICROPROCESSOR AS PREVIOUSLY REPORTED APPLE HAS BEEN QUIETLY TRYING TO IMPROVE ITS MACINTOSH COMPUTERS WITH TECHNOLOGY GLEANED FROM COMPETITORS USING THE INTEL CHIPS AN APPLE TEAM HAS BEEN WORKING ON THE PROJECT UNDER THE CODE NAME HOUDINI ACCORDING TO SOURCES FAMILIAR WITH THE PLANS APPLE'S MACINTOSHES ARE CURRENTLY POWERED BY MOTOROLA INC CHIPS INTEL'S 486 CHIP DOMINATES THE REST OF THE PC INDUSTRY THE INTEL CHIPS WOULDN'T REPLACE THE MOTOROLA CHIPS INSIDE MACINTOSHES RATHER THE INTEL CHIP WOULD SERVE AS A SECOND BRAIN ALLOWING A SINGLE MACHINE TO ACT AS A MACINTOSH OR WITH THE FLICK OF A SWITCH AN IBMCOMPATIBLE MACHINE THAT COULD RUN PROGRAMS BASED ON MICROSOFT'S POPULAR WINDOWS SYSTEM THE WINDOWS SYSTEM WOULD HAVE TO BE INSTALLED SEPARATELY ANALYSTS SAY THE MOVE BY APPLE SEEMS INTENDED TO FURTHER HELP SHORE UP PC SALES DURING THE COMPANY'S TRANSITION TO A NEW LINE OF MACINTOSHES BEGINNING NEXT MARCH THAT ARE BASED ON THE POWERPC CHIP WHICH IS BEING DEVELOPED BY APPLE INTERNATIONAL BUSINESS MACHINES CORP AND MOTOROLA INC UNDER ITS NEW CHIEF EXECUTIVE OFFICER MICHAEL SPINDLER APPLE HAS ALSO BEEN CHOPPING ITS PC PRICES TO MAINTAIN SALES MOMENTUM ACCORDING TO ANALYSTS THE LOWER PRICES WILL LIKELY DRIVE SALES MORE THAN ANY NEW DUALITY OF SOME MACINTOSHES THEY SAY THAT THE WINDOWS PROGRAMS WOULD PROBABLY RUN SLOWER THAN ON AN IBMCOMPATIBLE MACHINE BECAUSE THEY WOULD BE POWERED FROM AN ADDON CHIP RATHER THAN A FASTER NATIVE CHIP FOR SOME PEOPLE IT'S A NICHE KIND OF A PRODUCT SAID JOHN J GIRTON MANAGING DIRECTOR OF RESEARCH AT VAN KASPER & CO FOR THE MAINSTREAM USER IT'S A NONEVENT 9311120151 931112 INTERNATIONAL ASAHI'S PROFIT DROPS 50 TOKYO ASAHI CHEMICAL INDUSTRY CO A JAPANESE MANUFACTURER OF SYNTHETIC FIBERS POSTED A 50 DROP IN UNCONSOLIDATED PRETAX PROFIT FOR THE SIX MONTHS ENDED SEPT 30 PRETAX PROFIT IN THE FISCAL FIRST HALF FELL TO 877 BILLION YEN FROM 1753 BILLION YEN SALES SLIPPED 63 TO 45643 BILLION YEN FROM 48712 BILLION YEN WHILE WEAK DEMAND AND THE RAPID APPRECIATION OF THE YEN CONTRIBUTED TO THE COMPANY'S DECLINE IN PROFIT BRISK PHARMACEUTICAL SALES KEPT REVENUE FIGURES FROM DROPPING FURTHER A COMPANY OFFICIAL SAID THAT THE OUTLOOK FOR THE REST OF THE FISCAL YEAR THOUGH NOT BRIGHT WON'T INCLUDE ANY CHANGES IN ITS PERSONNEL 9311120150 931112 ENTERPRISE SMALL FIRMS DON'T VIEW CLINTON'S HEALTH PLAN KINDLY BUSINESSES THAT DON'T COVER WORKERS FIGURE COSTS CAN ONLY RISE BY EUGENE CARLSON STAFF REPORTER OF THE WALL STREET JOURNAL HOUSTON A WINDOW WASHER HANGING BY A ROPE HIGH ABOVE THE STREETS OF DOWNTOWN HOUSTON WOULD SEEM TO BE A PRIME CANDIDATE FOR MEDICAL INSURANCE BUT THERESA MARTIN COOWNER OF MARTIN'S WINDOW CLEANING CORP SAYS HER WORKERS AREN'T CLAMORING FOR COVERAGE THEY'RE YOUNG AND BULLETPROOF SHE SAYS THE ONLY WAY THEY'D BE INTERESTED IS IF WE PICKED UP THE WHOLE THING AND WE CAN'T AFFORD TO DO THAT IN SOME WAYS PRESIDENT CLINTON'S MANDATORY NATIONAL HEALTHCARE PLAN WOULD AFFECT COMPANIES LIKE MARTIN'S WINDOW CLEANING MORE DRASTICALLY THAN ANY OTHERS THESE SMALL COMPANIES DON'T OFFER ANY HEALTH INSURANCE AT ALL THESE COMPANIES TYPICALLY LABORINTENSIVE ENTERPRISES THAT OFTEN PAY LOW WAGES ARE IMPORTANT IN THE HEALTHCARE DEBATE MORE THAN TWOTHIRDS OF AMERICANS WITHOUT HEALTH COVERAGE WORK FOR COMPANIES WITH FEWER THAN 100 WORKERS SAYS THE WASHINGTONBASED EMPLOYEE BENEFIT RESEARCH INSTITUTE SO FAR THE CLINTON ADMINISTRATION'S EFFORT TO WIN HEALTHPLAN SUPPORT FROM THESE COMPANIES IS ENCOUNTERING PLENTY OF FRUSTRATION THE ADMINISTRATION ARGUES THAT MANY SMALL FIRMS OFFERING HEALTH COVERAGE NOW ESPECIALLY THOSE WITH LOWWAGE WORK FORCES WOULD SEE THEIR RATES DROP UNDER THE PRESIDENT'S PLAN BUT THE COMPANIES THAT DON'T OFFER INSURANCE AT ALL KNOW THEIR RATES CAN ONLY RISE COST IS ONLY ONE REASON THAT COMPANIES SHUN HEALTH INSURANCE THOUGH SOME CITE DEEP PERSONAL CONVICTIONS THAT AREN'T SWAYED BY THE PRESIDENT'S OFFER OF HEALTHCARE SUBSIDIES FOR SMALL LOWWAGE COMPANIES I'M ALIGNED WITH THE CONSERVATIVES OF THE 1930S WHO DON'T ACCEPT THE FACT THAT HEALTH CARE IS A BASIC RIGHT SAYS DON SUMMERS PRESIDENT OF AUSTIN WELDER & GENERATOR SERVICE IN AUSTIN TEXAS OTHER OWNERS SAY THE LABOR SUPPLY IS SO LARGE THAT THEY DON'T NEED TO OFFER HEALTH BENEFITS AS AN EMPLOYMENT INCENTIVE KIRK ROTHROCK EXECUTIVE DIRECTOR OF THE HEALTH INSURANCE PLAN OF CALIFORNIA A STATEWIDE HEALTHINSURANCE PURCHASING POOL FOR SMALL BUSINESS SAYS HE FREQUENTLY HEARS EMPLOYERS IN FOCUS GROUPS SAY WITH THE JOB MARKET AS TIGHT AS IT IS WE DON'T NEED THAT KIND OF CARROT BECAUSE WE HAVE A BIGGER EMPLOYEE POOL THAN WE NEED TALKS WITH THREE TEXAS ENTREPRENEURS HIGHLIGHT THE RANGE OF REASONS THAT PROMPT MANY ENTREPRENEURS TO SHUN HEALTH INSURANCE ENTIRELY AND SUGGEST THE PROBLEMS MR CLINTON FACES AS HE TRIES TO WIN SUPPORT WITHIN THIS GROUP I'D RATHER NEVER GET HEALTH INSURANCE FOR MY COMPANY THAN GO INTO A SYSTEM OF GOVERNMENT MANDATES THAT'S PUSHING US CLOSER TO SOCIALISM SAYS BILLY MARTIN PRESIDENT OF BETH & BILL'S LAUNDRY SERVICE INC IN HOUSTON FROM A PRACTICAL STANDPOINT FEW PEOPLE WOULD HAVE MORE TO GAIN THAN MR MARTIN FROM THE CLINTON PLAN'S GUARANTEED ACCESS TO MEDICAL COVERAGE THE ENTREPRENEUR SAYS HIS WIFE HAS A SERIOUS HEART AILMENT THAT MAKES INSURERS SHUN HER I'VE YET TO FIND ANYONE WHO WILL COVER US HE SAYS IRONICALLY BETH & BILL'S MAKES ITS LIVING FROM THE HEALTHCARE INDUSTRY IT PROVIDES LAUNDRY SERVICE FOR ABOUT 35 MEDICAL CLINICS AND DOCTORS' OFFICES CURRENT SALES ARE ABOUT 200000 MR MARTIN SAYS AT ONE TIME MR MARTIN DID OFFER HEALTHCARE COVERAGE BUT THE COVERAGE PROVIDED UNDER AN ARRANGEMENT WITH A STATE TRADE ASSOCIATION FELL THROUGH WHEN THE GROUP'S INSURER WENT OUT OF BUSINESS THEN THE COMPANY FELL ON HARD TIMES LOSING A CUSTOMER RESPONSIBLE FOR 70 OF SALES A WORK FORCE THAT NUMBERED 20 EMPLOYEES HAS SINCE SHRUNK TO TWO FULLTIME AND FOUR PARTTIME WORKERS EVEN THOUGH THE CLINTON PLAN WOULD PROVIDE COVERAGE FOR HIS WORKERS AND FAMILY MR MARTIN OPPOSES IT ON PRINCIPLE BECAUSE IT WOULD BE MANDATED BY THE GOVERNMENT THIS REINVENTING HEALTH CARE IS A BUNCH OF MALARKEY HE SAYS THERE ARE SOME PEOPLE WHO FALL THROUGH THE CRACKS MY WIFE IS ONE OF THEM BUT THAT DOESN'T MEAN THE WHOLE SYSTEM IS BAD MR SUMMERS USED TO PAY 100 OF THE HEALTH PREMIUMS FOR HIS WORKERS WHO REPAIR WELDING EQUIPMENT AND EMERGENCY POWER GENERATORS IN HIS SHOP ON AUSTIN'S NORTH SIDE BUT HE SAYS HE CALLED IT QUITS AFTER WATCHING HIS MONTHLY INSURANCE BILL SOAR TO 3750 IN 1987 FROM 911 IN 1980 SINCE THEN MR SUMMERS HAS BECOME A VOCAL CRITIC OF THE HEALTHINSURANCE SYSTEM IN TESTIMONY BEFORE TWO CONGRESSIONAL COMMITTEES HE ASKED FOR HELP IN MAKING INSURANCE MORE AFFORDABLE FOR SMALL BUSINESSES AND ENDING FRIVOLOUS STATE MANDATES FOR EXAMPLE HE SAYS TEXAS REQUIRES COMPANIES THAT BUY GROUP HEALTH COVERAGE WITH MATERNITY BENEFITS TO INCLUDE COVERAGE FOR IN VITRO FERTILIZATION MR SUMMERS SAYS HE THINKS THE CLINTON PLAN AMOUNTS TO PUTTING A GUN TO YOUR HEAD AND SAYING PAY IT OR ELSE' HE SAYS HE WOULD RATHER PAY 5 MORE IN PERSONAL TAXES TO FINANCE HEALTHCARE REFORM THAN CONTRIBUTE AS AN EMPLOYER EVEN THOUGH MANY COMPANY HEALTHCARE COSTS ARE TAXDEDUCTIBLE IF EVERY INDIVIDUAL IS GOING TO RECEIVE HEALTH CARE THEN LET INDIVIDUALS PAY THE FULL SHARE HE SAYS THERESA MARTIN AND HER HUSBAND WILLIE RUN THEIR BUSINESS FROM AN INDUSTRIAL BUILDING THEY BUILT LAST YEAR NEXT TO THEIR HOME IN NORTHWEST HOUSTON THEY SAY SALES WILL BE ROUGHLY 750000 THIS YEAR BUT COMPETITIVE PRESSURES PRECLUDE ANY THOUGHT OF PURCHASING HEALTH COVERAGE AND PASSING ON THE COST TO CUSTOMERS THROUGH HIGHER PRICES WITH THE SLUMP IN COMMERCIAL REAL ESTATE PLUS REMODELING COSTS THAT BUILDING OWNERS ARE PAYING TO COMPLY WITH THE NEW FEDERAL DISABILITY ACT THERE'S LESS AND LESS MONEY FOR NONESSENTIALS LIKE WINDOW CLEANING MS MARTIN SAYS ONE BIG CUSTOMER THE WOODLANDS CORP A LARGE DEVELOPER HAS GOTTEN ITS WINDOWS WASHED FOR THE SAME PRICE FOR 15 YEARS MR MARTIN SAYS IF WE WENT UP 10 THEY'D QUIT HIS COMPANY ALSO HAS HIGH COSTS FOR LIABILITY INSURANCE AND WORKERS' COMPENSATION HE ADDS MS MARTIN A CHEERY WOMAN WHO STARTS HER WORKDAYS AT 5 AM SAYS SHE CONTINUALLY GETS CALLS FROM INSURANCE AGENTS HAWKING HEALTH PLANS SHE FIGURES COVERAGE WOULD COST ABOUT 200 A MONTH PER WORKER AVERAGE WAGES RUN ABOUT 60 A DAY BEFORE PAYROLL TAXES MS MARTIN SAYS SHE HAS NO IDEA IF THE CLINTON PLAN WOULD HELP HER FIRM I FEEL IT'LL BE CHANGED SO MUCH BY THE TIME IT BECOMES REALITY THAT I HAVEN'T SPENT TIME READING ABOUT IT SHE SAYS 9311120149 931112 WASHINGTON TRANSIT AGENCY TO RETIRE BONDS BY JOHN CONNOR SPECIAL TO THE WALL STREET JOURNAL WASHINGTON THE WASHINGTON METROPOLITAN AREA TRANSIT AUTHORITY AND THE TRANSPORTATION DEPARTMENT WILL RETIRE NEARLY 1 BILLION IN FEDERALLY BACKED BONDS IN AN EFFORT TO SAVE MONEY AND HASTEN COMPLETION OF THE WASHINGTONAREA RAIL SYSTEM IN AN UNUSUAL ARRANGEMENT THE AUTHORITY SOLD 997 MILLION IN TAXABLE FEDERALLY GUARANTEED BONDS IN THE EARLY 1970S ALMOST ALL IN THE CAPITAL MARKETS NOW UNDER A REFINANCING AIMED AT TAKING ADVANTAGE OF FAVORABLE INTEREST RATES AND OTHER FACTORS THE AUTHORITY WILL SELL ABOUT 350 MILLION OF TAXEXEMPT BONDS THIS MONTH AND THE TRANSPORTATION DEPARTMENT WILL BORROW SOME 670 MILLION FROM THE TREASURY'S FEDERAL FINANCING BANK THE PROCEEDS WILL BE USED TO RETIRE THE OLD BONDS AND PROVIDE WMATA WITH ABOUT 30 MILLION IN CASH THE OPERATION IS NOTABLE FOR THE SIZE OF PROJECTED SAVINGS TO TAXPAYERS 800 MILLION AS WELL AS THE NOVEL LOCALFEDERAL COOPERATION IN REFINANCING A BATCH OF BONDS THAT WERE UNUSUAL IN THE FIRST PLACE MOREOVER THE TRANSPORTATION DEPARTMENT INDICATED THAT CONCEPTUALLY SIMILAR TRANSACTIONS ARE POSSIBLE WE'RE OPEN TO SIMILAR PROPOSALS DEPUTY TRANSPORTATION SECRETARY MORTIMER DOWNEY SAID IN AN INTERVIEW HE SAID THE DEPARTMENT HAS HAD PRELIMINARY DISCUSSIONS WITH SOME JURISDICTIONS ON THE POSSIBLE REFUNDING OF FEDERALLY SUPPORTED HIGHWAY AND AIRPORT DEBT MERRILL LYNCH & CO WILL BE THE LEAD UNDERWRITER OF THE 350 MILLION TAXEXEMPT ISSUE SAID PETER BENJAMIN THE AUTHORITY'S CHIEF FINANCIAL OFFICER HE SAID THE EXISTING FEDERALLY GUARANTEED BONDS WILL BE CALLED DEC 1 MR BENJAMIN ALSO SAID WMATA WILL SELL COMMERCIAL PAPER IN AMOUNTS PERHAPS AS HIGH AS 300 MILLION A YEAR BUT PROBABLY HALF THAT AMOUNT TO MEET SHORTTERM FINANCING NEEDS HE ALSO SAID THE AUTHORITY WILL ESTABLISH A MAJOR 600 MILLION LINE OF CREDIT TO SUPPORT ITS CONSTRUCTION PROGRAM THE TRANSPORTATION DEPARTMENT ESTIMATED THE REFINANCING WILL SAVE THE FEDERAL GOVERNMENT SOME 200 MILLION IN INTEREST COSTS WHILE WMATA ESTIMATES THE OPERATION WILL SAVE THE AUTHORITY AND WASHINGTONAREA TAXPAYERS ABOUT 600 MILLION AND ACCELERATE COMPLETION OF THE WASHINGTON AREA RAIL SYSTEM BY FIVE YEARS ALLOWING COMPLETION OF THE SYSTEM BY 2001 9311120148 931112 WHO'S NEWS AER ENERGY RESOURCES INC AER ENERGY RESOURCES INC SMYRNA GA DOUGLAS JOHNS 45 YEARS OLD WAS ELECTED TO THE BOARD OF THIS DEVELOPER OF RECHARGEABLE BATTERIES BOOSTING THE NUMBER OF DIRECTORS TO SEVEN MR JOHNS WAS SENIOR VICE PRESIDENT/GENERAL MANAGER OF THE PERSONAL COMPUTER DIVISION OF COMPAQ COMPUTER CORP FROM 1991 TO 1993 THE COMPANY SAID 9311120147 931112 TRUMP BANKERS ARE SHAPING A DEAL TO USE CASINO EMPIRE TO RETIRE DEBT BY MITCHELL PACELLE STAFF REPORTER OF THE WALL STREET JOURNAL DONALD TRUMP IS CLOSE TO AGREEMENTS WITH HIS BANKERS AND BONDHOLDERS THAT MAY ALLOW HIM TO RECAPTURE FULL OWNERSHIP OF HIS CASINOS TAKE HIS GAMBLING EMPIRE PUBLIC THEN RETIRE THE ROUGHLY 200 MILLION IN PERSONAL DEBT LEFT OVER FROM HIS MASSIVE 1991 BAILOUT IF THE PLAN THAT IS TAKING SHAPE IS SUCCESSFUL IT WOULD PROVIDE THE MOST CONCRETE SUPPORT THUS FAR TO MR TRUMP'S YEAROLD CLAIM THAT HE IS BACK FROM THE BRINK OF BANKRUPTCY HE'S REALLY TRYING TO CLEAN HIS SLATE WITH THIS DEAL SAID ONE INDIVIDUAL INVOLVED IN THE BANK NEGOTIATIONS IF HE PULLS IT OFF EVERYTHING HE WAS SAYING TWO YEARS AGO MAY COME TRUE SINCE HIS 1991 DEBT RESTRUCTURING MR TRUMP HAS BOASTED THAT THE CASINOS WOULD FUEL HIS RECOVERY CERTAINLY IT WOULD CONFOUND THE EXPECTATIONS OF SOME BANKERS WHO NEGOTIATED THE BAILOUT AND WHO FIGURED MR TRUMP'S OWNERSHIP STAKE IN HIS REMAINING ASSETS WOULD BE SO BURDENED WITH DEBT AND LIENS AS TO BE VIRTUALLY WORTHLESS THE PERSONAL DEBT COMES DUE IN MID1995 AND MR TRUMP'S ABILITY TO DRAW MORE THAN MANAGEMENT FEES OUT OF HIS CASINOS IS SEVERELY RESTRICTED I SAID IT COULDN'T BE DONE CONCEDES ONE BANKER WHO UNTIL RECENTLY MAINTAINED THAT MR TRUMP WAS HEADING FOR BANKRUPTCY NOW HE PREDICTS MR TRUMP WILL SATISFY HIS REMAINING BANK OBLIGATIONS MR TRUMP DECLINED TO DISCUSS THE CURRENT NEGOTIATIONS CITING SECURITIES AND EXCHANGE COMMISSION RESTRICTIONS BUT INTERVIEWS WITH MORE THAN A HALFDOZEN INDIVIDUALS INVOLVED WITH VARIOUS ASPECTS OF THE PLAN INDICATE THAT HIS BIGGEST REMAINING HURDLE WILL BE STRIKING DEBTPAYDOWN DEALS WITH HIS LENDERS WHOSE APPROVAL HE NEEDS FOR A PUBLIC OFFERING ALTHOUGH SOME HAVE ALREADY GIVEN TENTATIVE APPROVAL TO DISCOUNTED REPAYMENTS OTHERS ARE PRESSING HIM TO INCREASE HIS OFFERS MR TRUMP A NICHOLAS RIBIS CHIEF FINANCIAL OFFICER OF THE TRUMP ORGANIZATION ARE CURRENTLY TRYING TO FINALIZE DEALS WITH THE MAIN BANKING UNITS OF BANKERS TRUST NEW YORK CORP CITICORP CHASE MANHATTAN CORP CHEMICAL BANKING CORP FIRST FIDELITY BANCORP MIDLANTIC CORP AND NATIONAL WESTMINSTER BANK PLC'S US UNIT UNTIL MR TRUMP PAYS DOWN THIS DEBT THE BANKS WILL STILL HOLD LIENS ON HIS CASINOS AND OTHER HOLDINGS WHICH INCLUDE THE PLAZA HOTEL AND TRUMP TOWER IN NEW YORK THERE'S A LOT OF GAMESMANSHIP GOING ON SAID ONE LAWYER INVOLVED IN THE TALKS DISCUSSIONS ARE GOING ON BETWEEN THE LENDERS ABOUT HOW TO SLICE UP THE PIE UNDER SOME OF THE AGREEMENTS MR TRUMP HAS UNTIL DEC 3 TO STRIKE A DEAL ALTHOUGH SOME LENDERS EARLIER AGREED TO ACCEPT A 50 DISCOUNT THAT DEAL WAS SCRAPPED WHEN OTHER BANKS BALKED IT ISN'T CLEAR WHAT KIND OF A DISCOUNT THE BANKS ARE CURRENTLY OFFERING ACCORDING TO SEVERAL INDIVIDUALS FAMILIAR WITH HIS PLANS MR TRUMP PLANS TO PAY OFF THE BANKS WITH MONEY RAISED IN A PUBLIC OFFERING OF A MINORITY INTEREST IN HIS CASINO PROPERTIES PERHAPS COUPLED WITH A DEBT OFFERING ON THE TRUMP ORGANIZATION BARRING COMPLICATIONS THAT OFFERING COULD COME AS SOON AS THIS SPRING BECAUSE NEW GAMBLINGRELATED OFFERINGS REMAIN AMONG THE HOTTEST PRODUCTS ON WALL STREET IT IS IMPORTANT THAT MR TRUMP COMES TO MARKET AS QUICKLY AS POSSIBLE LATE WEDNESDAY A GROUP OF BONDHOLDERS OF THE TRUMP TAJ MAHAL ANNOUNCED THAT IT HAD STRUCK A DEAL WITH MR TRUMP FOR A BOND SWAP AND MR TRUMP IS EXPECTED TO EXTEND THE OFFER TO OTHER BONDHOLDERS SOON BONDHOLDERS WILL BE ASKED TO SWAP ABOUT 750 MILLION IN EXISTING DEBT FOR 692 MILLION IN NEW BONDS WITH HIGHER CASHINTEREST PAYMENTS PLUS ABOUT 75 MILLION IN CASH MR TRUMP ALSO INTENDS TO BUY BACK THE CASINO'S CLASS A STOCK FOR ABOUT 38 MILLION WHICH WILL GIVE HIM FULL OWNERSHIP AN EXCHANGE OFFER WITH TRUMP CASTLE BONDHOLDERS THAT WOULD GIVE HIM FULL OWNERSHIP OF THAT FACILITY HAS ALREADY BEEN REGISTERED WITH THE SEC JUST HOW MUCH MR TRUMP CAN RAISE THROUGH A PUBLICEQUITY OFFERING COUPLED PERHAPS WITH A DEBT OFFERING WILL DEPEND ON HOW WELL HIS CASINOS DO THIS YEAR AND WHETHER HE CAN ADD ANY RIVERBOATGAMBLING OPERATIONS TO THE PIE HE EXPECTS TO RECEIVE FINAL APPROVAL BY YEAR END FOR A LICENSE TO OPERATE ONE IN GULFPORT MISS AND HE IS COMPETING FOR LICENSES IN ST LOUIS AND GARY IND ADVISERS SAY HE WOULD PROBABLY HAVE TO FINANCE THOSE WITH NEW HIGHYIELD BONDS 9311120146 931112 INDUSTRY FOCUS FOR AILING JAPANESE FIRMS US IS LAND OF RISING SUN COST CUTS ECONOMIC STRENGTH BOOST UNITS AS PARENTS REMAIN UNDER A CLOUD BY JENNIFER CODY STAFF REPORTER OF THE WALL STREET JOURNAL NEW YORK THE US UNITS OF MANY JAPANESE COMPANIES ARE FAR MORE UPBEAT ABOUT THEIR PROSPECTS THESE DAYS THAN THEIR CORPORATE PARENTS ARE ABOUT THEIRS AT HOME OFFICES ACROSS JAPAN THE SOARING YEN AND A PAINFUL RECESSION ARE FORCING COMPANIES TO SLASH EARNINGS FORECASTS CUT JOBS FOR THE FIRST TIME AND RETHINK STRATEGIES BUT SEVERAL US UNITS ARE FORECASTING IMPROVED SALES AND SOME ARE EVEN PREDICTING HIGHER PROFITS WHILE MOST OF THE US UNITS CONCEDE THE REVIVAL HERE WON'T AFFECT PARENTCOMPANY PROFITS MUCH THEY SAY THE ATMOSPHERE IN THE US HAS BECOME MORE OPTIMISTIC MUCH OF THE DIFFERENCE IN OUTLOOK STEMS FROM THE RELATIVE HEALTH OF THE US ECONOMY WE WENT INTO RECESSION ONE YEAR BEFORE JAPAN DID SAYS TADAO TAGUCHI CHAIRMAN AND CHIEF EXECUTIVE OFFICER OF TOSHIBA AMERICA INC A UNIT OF COMPUTER MAKER TOSHIBA CORP NOW WE CAN SEE RECOVERY BUT THE UNITS ALSO CREDIT COSTCUTTING STEPS TAKEN DURING THE US RECESSION FOR MAKING THEM MORE EFFICIENT AND BETTER ABLE TO CAPITALIZE ON RISING DEMAND AND IN SOME CASES JAPANESE COMPANIES ARE BENEFITING FROM SPECIAL FACTORS SUCH AS THE LIFTING OF A PUNITIVE TARIFF ON IMPORTS OF CERTAIN FLAT COMPUTER SCREENS UNITS THAT MANUFACTURE IN THIS COUNTRY STILL HAVE TO CONTEND WITH THE CURRENCY PROBLEM WHEN THEY IMPORT PARTS FROM JAPAN BUT SOME HAVE MOVED TO INSULATE THEIR OPERATIONS BY USING COMPONENTS MADE IN THE US SOME OF THE COMPANIES EXPECT TO INCREASE SUCH PROCUREMENT WHILE OTHERS PLAN TO BEGIN USING US PARTS FOR THE FIRST TIME AND CERTAIN COMPANIES ARE BUYING COMPONENTS FROM REGIONS SUCH AS SOUTHEAST ASIA WHERE THEY ARE LESS EXPENSIVE TO MANUFACTURE AND SHIP THAN PARTS THAT COME FROM JAPAN OFFICIALS FROM AIWA AMERICA INC AND SHISEIDO COSMETICS AMERICA LTD SAY THEY EXPECT TO MOVE AS MUCH AS 80 OF THEIR MANUFACTURING OUT OF JAPAN FOR AIWA AMERICA A UNIT OF AIWA CO ALMOST ALL OF THAT EMIGRATION WILL BE TO SOUTHEAST ASIA SIMILARLY SHISEIDO CO'S UNIT BUYS LOCALLY 58 OF THE MATERIALS FOR ITS PRODUCTS MADE IN THE US WHILE THE PARENT IS PLANNING TO LAUNCH MORE FACILITIES OVERSEAS IN THE NEXT THREE YEARS SONY CORP OF AMERICA A UNIT OF SONY CORP PRODUCES ABOUT 70 OF ITS USMARKETED 27INCH TELEVISIONS LOCALLY AND HAS OPENED SEVERAL MANUFACTURING AND DESIGN PLANTS IN THE US SINCE 1990 OTHER COMPANIES ARE LIKELY TO MAKE SIMILAR MOVES TO BE SURE SOME US UNITS ARE STILL STRUGGLING COMPANIES THAT DISTRIBUTE GOODS IN THE US THAT ARE MADE IN JAPAN CONTINUE TO FACE AN ESPECIALLY HARD TIME BECAUSE OF THE STRONG YEN SHIGEHO KURASHINA PRESIDENT OF SEIKO CORP OF AMERICA WHICH DISTRIBUTES WATCHES MADE MAINLY IN JAPAN SAYS THAT BUSINESS IS TOUGH SALES ARE STILL RATHER SLOW HERE HONDA MOTOR CO'S SLUMP IN US BUSINESS NORTH AMERICAN AUTO REVENUE WAS DOWN 24 FOR THE FIRST QUARTER ENDED JUNE 30 WAS A CHIEF FACTOR IN THE PARENT COMPANY'S 55 DROP IN GROUP PRETAX PROFIT FOR THE FIRST QUARTER AND OTHER US UNITS ARE STILL RETRENCHING TOSHIBA AMERICA FOR INSTANCE WILL LAY OFF 100 EMPLOYEES BY THE END OF THE YEAR AND MATSUSHITA ELECTRIC CO OF AMERICA WILL LIKELY MAINTAIN A HIRING FREEZE FOR AT LEAST ANOTHER YEAR BUT THE CURRENT CUTBACKS GENERALLY AREN'T AS BIG AS EARLIER ONES IN THE PAST TWO YEARS TOSHIBA AMERICA HAS SLASHED ABOUT 1000 JOBS NISSAN MOTOR CO'S US UNIT HAS CUT MORE THAN 350 AND MATSUSHITA HAS CUT A FEW HUNDRED THE US UNITS OF BROTHER INDUSTRIES LTD AND SEIKO CORP HAVE BOTH CUT ABOUT 150 JOBS SINCE 1991 BUT PLAN NO MORE AT PRESENT OFFICIALS FROM THOSE COMPANIES SAY WHILE CASIO INC WHICH SLICED ABOUT 30 JOBS FROM ITS ROUGHLY 250PERSON US WORK FORCE IN RECENT YEARS SAYS IT WILL STAY AT ITS PRESENT SIZE INDEED SOME US UNITS PLAN TO HIRE NEW EMPLOYEES BECAUSE THEY ARE STEPPING UP PRODUCTION PLANS AS A RESULT OF THE DECISION BY THE US THIS YEAR TO DROP A 627 TARIFF ON IMPORTS OF A FLAT COMPUTER SCREEN TOSHIBA AMERICA WILL MOVE ITS COMPUTERASSEMBLY FACILITIES BACK TO IRVINE CALIF AND HIRE AS MANY AS 100 PEOPLE TO RESUME COMPUTER ASSEMBLY AND THE MANUFACTURE OF COMPUTER COMPONENTS THAT CONTRASTS WITH THE PARENT'S RECENT DECISION TO CHOP 5000 JOBS NEARLY 7 OF ITS JAPAN WORK FORCE IN THE NEXT FEW YEARS SIMILARLY TOYOTA MOTOR CORPORATE SERVICES OF NORTH AMERICA INC SAYS IT WILL BOOST US EMPLOYMENT BY 3000 WORKERS BY 1995 WHILE PARENT TOYOTA MOTOR CORP IN PAST MONTHS HAS SQUEEZED 20 OF ITS 4000 JAPANESE ADMINISTRATIVE WORKERS INTO NEW DIVISIONS AS PART OF A CONSOLIDATION COMPANIES ARE CONTINUING TO KEEP A TIGHT LID ON EXPENSES SEIKO CORP OF AMERICA HAS IN THE PAST YEAR CONSOLIDATED ITS WAREHOUSES SLASHING STORAGE AND SHIPPING COSTS BY 25 SEIKO AND OTHER COMPANIES ALSO HAVE REDRAWN THEIR US MARKETING MAPS TO COVER MORE TERRITORY WITH FEWER OFFICES TOSHIBA AND CASIO ARE CUTTING TRAVEL EXPENSES BY ASKING EXECUTIVES TO STAY AT MODERATELY PRICED HOTELS THE RESULT AT SOME US UNITS IS A FAIRLY ROSY PROFIT PICTURE TOSHIBA AMERICA OFFICIALS FOR EXAMPLE SAY AN INCREASE IN PROFIT WILL ACCOMPANY ITS PROJECTED US SALES INCREASE OF 10 TO 4 BILLION FOR THE FISCAL YEAR ENDING MARCH 31 ALTHOUGH THEY DECLINE TO GIVE AN ESTIMATE OF THE PROFIT INCREASE THEY ATTRIBUTE THE GROWTH TO HEALTHY SEMICONDUCTOR AND PERSONALCOMPUTER BUSINESSES THAT CONTRASTS WITH A 20 PLUNGE IN PARENTCOMPANY PROFIT FOR THE SIX MONTHS ENDED SEPT 30 OFFICIALS FROM SHISEIDO'S US OPERATIONS SAY THEIR EARNINGS PROJECTIONS FOR 1993 ARE VERY HEALTHY WHILE BROTHER AN ELECTRONIC CONSUMER GOODS COMPANY WHOSE US PROFIT FOR THE YEAR ENDED SEPT 30 WAS ESSENTIALLY FLAT SHOULD BEGIN TO SEE A RISE IN 1994 ACCORDING TO VICE PRESIDENT MARK THOMPSON THE US ECONOMY ALONG WITH SOUTHEAST ASIA ARE THE BRIGHT SPOTS IN THE MATSUSHITA WORLD SAYS MATSUSHITA'S USBRANCH PRESIDENT RICHARD A KRAFT WHO ADDS THAT THE JAPANESE PARENT HAS STRONG EXPECTATIONS OF THE US UNIT BUT THE US REVIVAL ISN'T BIG ENOUGH TO PROVIDE MUCH HELP FOR MOST PARENTCOMPANY BOTTOM LINES OFFICIALS CONCEDE A TOYOTA OFFICIAL IN THE US SAYS IT WILL LIKELY BE A LONG TIME BEFORE US GROWTH AFFECTS CONSOLIDATED EARNINGS AND SOME MANAGERS AT US UNITS WORRY THAT THEIR JAPANESE PARENTS COULD BECOME SO WEAK THAT THEY NO LONGER WILL BE ABLE TO PRODUCE INNOVATIVE PRODUCTS TO SELL IN AMERICA IF THAT SLOWS DOWN THEN WE LOSE OUR MOMENTUM SAYS ONE ELECTRONICS COMPANY OFFICIAL SONY CORP'S 27INCH TELEVISION SETS SOLD IN THE US ARE ALL ASSEMBLED IN THE US WITH ABOUT 30 OF THE PARTS IMPORTED IN FRIDAY'S INDUSTRY FOCUS ARTICLE ABOUT UPBEAT PROSPECTS FOR US UNITS OF JAPANESE COMPANIES IT WAS INCORRECTLY STATED THAT SONY PRODUCES ABOUT 70 OF ITS USMARKETED SETS IN THE US 9311120145 931112 WHO'S NEWS SCIENTIFICATLANTA INC SCIENTIFICATLANTA INC ATLANTA MYLLE H BELL 45 YEARS OLD WAS NAMED TO THE BOARD OF THIS MAKER OF TELECOMMUNICATIONS EQUIPMENT SHE SUCCEEDS WICKHAM SKINNER 69 WHO IS RETIRING MS BELL IS EXECUTIVE VICE PRESIDENT/STRATEGIC MANAGEMENT FOR HOLIDAY INN WORLDWIDE DR SKINNER HAD BEEN ON THE BOARD SINCE 1983 AND IS AN EMERITUS BUSINESS PROFESSOR AT HARVARD UNIVERSITY 9311120144 931112 GM PLANS TO GIVE 1600 PAYMENTS TO SALARIED STAFF BY NEAL TEMPLIN STAFF REPORTER OF THE WALL STREET JOURNAL DETROIT GENERAL MOTORS CORP TRYING TO MEND FENCES WITH ITS WHITECOLLAR WORKERS SAID IT WILL GIVE EACH OF ITS 65000 SALARIED WORKERS A 1600 PAYMENT NEXT YEAR MEANWHILE FORD MOTOR CO IS EXPECTED TO ANNOUNCE TODAY THAT IT WILL GIVE ENHANCED PAY AND BENEFITS TO ITS SALARIED EMPLOYEES A FORD SPOKESMAN DECLINED TO GIVE DETAILS SAYING THE COMPANY WANTS TO BRIEF ITS EMPLOYEES FIRST BUT THE COMPANY SCHEDULED A NEWS CONFERENCE THIS AFTERNOON GM IN ADDITION TO THE 1600 PAYMENTS SAID IT WILL SET ASIDE A COMPENSATION FUND EQUAL TO 5 OF ITS SALARIEDWORKER PAYROLL TO PAY FOR BASEPAY INCREASES AND MERITPAY INCREASES GM'S WHITECOLLAR WORKERS RECEIVED NO RAISES IN 1992 AND BELATED RAISES IN 1993 SEPARATELY THE UNITED AUTO WORKERS UNION SAID ITS RANKANDFILE MEMBERS APPROVED A TENTATIVE THREEYEAR LABOR CONTRACT WITH GM BY A 715 MARGIN WE NOW LOOK FORWARD TO WORKING WITH THE COMPANY TO APPLY THIS AGREEMENT IN A CONSTRUCTIVE AND MUTUALLY BENEFICIAL MANNER SAID UAW PRESIDENT OWEN BIEBER AND THE UNION'S TOP GM NEGOTIATOR STEPHEN P YOKICH IN A JOINT STATEMENT GM IS SWEETENING BENEFITS FOR WHITECOLLAR EMPLOYEES BECAUSE OF ITS LABOR AGREEMENT WITH THE UAW A YEAR AGO THE COMPANY SLASHED HEALTHCARE BENEFITS FOR SALARIED WORKERS AS GM PRESIDENT JOHN F SMITH JR PROMISED THAT THE COMPANY'S HOURLY WORKERS WOULD BE EXPECTED TO MAKE SIMILAR SACRIFICES IN THIS YEAR'S LABOR TALKS BUT THE UNION FENDED OFF HEALTHCARE CONCESSIONS IN THE NEW CONTRACT IN A VIDEOTAPED ADDRESS TO SALARIED EMPLOYEES MR SMITH ACKNOWLEDGED THAT MANY WHITECOLLAR EMPLOYEES WERE CONCERNED OVER INEQUITIES BETWEEN SALARIED AND HOURLY BENEFIT PACKAGES THESE CHANGES IN WHITECOLLAR COMPENSATION ARE A WAY OF SAYING WE DO HEAR YOU HE SAID EACH WHITECOLLAR EMPLOYEE WILL RECEIVE 1600 IN MARCH WHICH CAN BE USED TO PAY FOR HEALTHCARE EXPENSES ADDITIONAL DAYS OFF OR OTHER PERSONAL NEEDS MR SMITH SAID SEPARATELY MR SMITH SAID IN A SPEECH IN SAO PAULO BRAZIL THAT GM PLANS TO INVEST BETWEEN 18 BILLION AND 2 BILLION IN THE THRIVING LATIN AMERICAN AUTO MARKET OVER THE NEXT FIVE YEARS THAT INCLUDES A 11 BILLION INVESTMENT IN GM'S BRAZILIAN UNIT GM AND OTHER MANUFACTURERS SHOULD SELL 26 MILLION VEHICLES IN THE REGION THIS YEAR UP 15 FROM 1992 SMITH TOLD A GROUP AT AN AMERICAN CHAMBER OF COMMERCE MEETING GM OFFICIALS IN DETROIT HOWEVER COULDN'T SAY HOW MUCH THE COMPANY SPENT IN LATIN AMERICA OVER THE PAST FIVE YEARS 9311120143 931112 MARKETING & MEDIA MEIGHER ONCE A TOP EXECUTIVE AT TIME FORMS OWN CONCERN PUBLISHING PARTNERSHIP TO START BUY MAGAZINES NEWSLETTERS WITH BABYBOOMER APPEAL BY MEG COX STAFF REPORTER OF THE WALL STREET JOURNAL NEW YORK CHRISTOPHER MEIGHER III A FORMER TOP MAGAZINE EXECUTIVE WITH TIME INC ANNOUNCED A LIMITED PARTNERSHIP MEIGHER COMMUNICATIONS LP MR MEIGHER 47 YEARS OLD IS CHAIRMAN AND CHIEF EXECUTIVE OFFICER OF THE NEW COMPANY ITS MISSION TO BUY AND START MAGAZINES AND NEWSLETTERS WITH BABYBOOMER APPEAL THAT CAN ALSO BE ADAPTED TO AN INTERACTIVE COMPUTERBASED FORMAT ALTHOUGH HE WOULDN'T REVEAL THE AMOUNT OF MONEY THE PARTNERSHIP HAS TO INVEST MR MEIGHER SAID HIS FINANCIAL BACKERS IN THE BUSINESS INCLUDE COMPUTER SERVICE AMERICA ONLINE INC ANDREW HEISKELL FORMER CHAIRMAN AND CHIEF EXECUTIVE OFFICER OF TIME INC AND MANAGING DIRECTORS FROM SUCH WALL STREET INVESTMENT FIRMS AS LAZARD FRERES & CO AND BEAR STEARNS COS WE THINK THIS IS A WAY TO MAKE MAGAZINES MUCH MORE RESPONSIVE TO WHAT READERS ACTUALLY NEED SAID MR MEIGHER WE ARE IN THE CONTENT AND SERVICE BUSINESS AND WE WANT TO BE ABLE TO PROVIDE CUSTOMIZED ONDEMAND INFORMATION AS CONSUMERS BECOME INCREASINGLY COMFORTABLE WITH INTERACTIVE SERVICES TO START MEIGHER COMMUNICATIONS HAS BOUGHT A MAGAZINE CALLED GARDEN DESIGN AND AGREED TO PRODUCE A US EDITION OF EUROPE'S MOST POPULAR FOOD MAGAZINE PARISBASED SAVEURS TERMS WEREN'T DISCLOSED THE GARDENING MAGAZINE WITH A MODEST CIRCULATION OF ABOUT 75000 WILL BE REDESIGNED AT THE SAME TIME MEIGHER COMMUNICATIONS DREAMS UP RELATED ONLINE SERVICES SOMEDAY SAID MR MEIGHER SUBSCRIBERS TO ONLINE COMPUTER SERVICES COULD TAP INTO GARDEN DESIGN SOFTWARE ALLOWING THEM TO DESIGN A GARDEN ON THEIR COMPUTER SCREEN FANS OF THE NEW FOOD MAGAZINE COULD CALL UP RECIPES ON THEIR COMPUTERS OR GET COOKING ADVICE FROM OTHER SUBSCRIBERS OTHER MEIGHER COMMUNICTIONS EXECUTIVES INCLUDE A DOUGLAS PEABODY A VETERAN VENTURE CAPITAL MANAGER WHO IS PRESIDENT AND TREASURER AND DOROTHY KALINS FOUNDING EDITOR OF METROPOLITAN HOME MAGAZINE WHO IS EDITORINCHIEF MR MEIGHER SPENT 24 YEARS AT TIME INC MOST RECENTLY AS PRESIDENT OF TIME INC'S NEW YORK MAGAZINE DIVISION WHICH INCLUDES TIME LIFE FORTUNE AND PEOPLE HE LEFT IN JULY 1992 AFTER A CLASH OVER A REORGANIZATION OF THE MAGAZINE GROUP'S SALES FORCE 9311120142 931112 POLITICS & POLICY HEFTY FEES BUY ARISTIDE THE WASHINGTON CLOUT OF EXCONGRESSMAN WITH KEY ROLE AMONG EXILES BY ROBERT S GREENBERGER STAFF REPORTER OF THE WALL STREET JOURNAL WASHINGTON IT WASN'T EASY FOR MICHAEL BARNES TO RECOMMEND THAT HIS CLIENT JEANBERTRAND ARISTIDE ACCEPT THE COMPROMISE PLAN THAT WAS SUPPOSED TO RESTORE THE OUSTED HAITIAN PRESIDENT TO OFFICE DISAPPOINTED AND TEARYEYED MR BARNES FINALLY PERSUADED A SUSPICIOUS MR ARISTIDE IT WAS THE BEST DEAL HE WOULD GET BUT DON'T CRY FOR MIKE BARNES THE FORMER DEMOCRATIC CONGRESSMAN FROM MARYLAND AND HIS FIRM ARE BEING PAID AN EYEPOPPING 55000 A MONTH BY MR ARISTIDE TO HELP END HIS TWOYEAR EXILE ACCORDING TO DISCLOSURE RECORDS ON FILE AT THE JUSTICE DEPARTMENT MR BARNES INSISTS THAT'S A BARGAIN COMPARED WITH WHAT HIS BLUECHIP LAW FIRM CHARGES CORPORATE CLIENTS WHAT THAT BUYS THE PRESIDENT OF THE WESTERN HEMISPHERE'S POOREST NATION IS MR BARNES'S WASHINGTON CLOUT THE FORMER CHAIRMAN OF THE HOUSE FOREIGN AFFAIRS SUBCOMMITTEE FOR LATIN AMERICA MR BARNES HEADED BILL CLINTON'S MARYLAND PRESIDENTIAL CAMPAIGN LAST YEAR EVEN TAKING THE CANDIDATE TO A BALTIMORE ORIOLES BASEBALL GAME HE IS IN FREQUENT CONTACT WITH HIS FORMER COLLEAGUES ON CAPITOL HILL AS WELL AS WITH SUCH ADMINISTRATION CONTACTS AS VICE PRESIDENT AL GORE AND DEPUTY NATIONAL SECURITY ADVISER SAMUEL BERGER WHO IS MR BARNES'S FORMER LAW PARTNER IN THE CONVOLUTED HAITI SITUATION MR BARNES HAS ONE OF THE MORE UNUSUAL ROLES HE IS ESSENTIALLY A HIRED FOREIGN MINISTER FOR THE HAITIAN GOVERNMENT IN EXILE I HAVE TRIED TO INTERPRET HAITIAN REALITY TO THE INTERNATIONAL OFFICIALS WORKING ON THIS HE SAYS WHILE AT THE SAME TIME HELPING THE HAITIANS UNDERSTAND THE PRESSURE AND DYNAMICS THAT CONFRONT THE US AND THE OTHERS INVOLVED WHEN CLINTON ADMINISTRATION OFFICIALS OR UNITED NATIONS DIPLOMATS WORKING FOR MR ARISTIDE'S RETURN WANT TO DELIVER MESSAGES TO THE HAITIAN PRESIDENT MR BARNES IS OFTEN THE GOBETWEEN HE DID MUCH OF THE NEGOTIATING WITH UN OFFICIALS IN HAMMERING OUT LAST JULY'S GOVERNORS ISLAND ACCORD THAT WAS SUPPOSED TO LEAD TO MR ARISTIDE'S RETURN ONLY LAST WEEK PRESIDENT ARISTIDE DISPATCHED HIM TO PORTAUPRINCE FOR A NEGOTIATING SESSION CALLED BY THE UNITED NATIONS ENVOY TO HAITI THE EFFORT COLLAPSED WHEN HAITI'S MILITARY RULERS DIDN'T SHOW UP MR BARNES ALSO HAS ACTED AS A PUBLIC SPOKESMAN RESPONDING TO SUCH ARISTIDE CRITICS AS THE CENTRAL INTELLIGENCE AGENCY WHICH SUGGESTED IN A PRIVATE BRIEFING TO MEMBERS OF CONGRESS THAT THE HAITIAN PRESIDENT WAS MENTALLY UNSTABLE MR BARNES SAYS THE HEFTY FEE HIS FIRM CHARGES HAITI IS ABOUT HALF OF WHAT OUR BILLS FOR ACTUAL LEGAL SERVICES WOULD BE WORTH IF WE WERE CHARGING A CORPORATE CLIENT HIS FIRM HOGAN & HARTSON BILLS A PARTNER'S TIME AT 350 AN HOUR MR BARNES SAYS ABOUT 10 LAWYERS SPEND TIME ON HAITI HE ESTIMATES THAT HE SPENDS AN AVERAGE OF 50 TO 60 HOURS A WEEK WORKING FOR MR ARISTIDE ON SUNDAY AFTER HIS RETURN FROM HAITI FOR INSTANCE MR BARNES SPOKE TWICE WITH THE DEPOSED HAITIAN PRESIDENT MR ARISTIDE CERTAINLY WON'T RUN OUT OF MONEY TO PAY THOSE BILLS ANYTIME SOON HE HAS ACCESS TO BETWEEN 40 MILLION AND 50 MILLION OF HAITIAN FUNDS ON DEPOSIT IN THE US THAT WERE FROZEN AFTER HE WAS DEPOSED BY A MILITARY COUP IN SEPTEMBER 1991 DURING THE FIRST YEAR OF HIS EXILE MR ARISTIDE DREW AN AVERAGE OF 900000 A MONTH ACCORDING TO US OFFICIALS DURING THE 12 MONTHS ENDED LAST SEPTEMBER HIS MONTHLY DRAW JUMPED TO 18 MILLION THE OFFICIALS SAY MR ARISTIDE ISN'T REQUIRED TO ACCOUNT IN DETAIL TO THE US FOR HOW THE FUNDS ARE SPENT MOST OF THE MONEY GOES TO SUPPORT HIS GOVERNMENT IN EXILE INCLUDING EMBASSIES ABROAD BUT SOME GOES TO OTHER FIRMS BESIDES HOGAN & HARTSON AND TO PUBLICRELATIONS SPECIALISTS WHO ALSO ARE WORKING FOR MR ARISTIDE HAITI'S EXILED GOVERNMENT CERTAINLY ISN'T THE ONLY CASHSTRAPPED FOREIGN GOVERNMENT PROVING TO BE A LUCRATIVE CLIENT FOR WASHINGTON LAWYERS AND OTHER REPRESENTATIVES EL SALVADOR PAID FMR GROUP 31004508 FOR EIGHT MONTHS' WORK IN 1990 ACCORDING TO THE JUSTICE DEPARTMENT RECORDS NICARAGUA'S LEFTIST SANDINISTA GOVERNMENT ONCE PAID ATTORNEY PAUL REICHLER ABOUT 300000 A YEAR TO FEND OFF THE ANTAGONISTIC BUSH ADMINISTRATION NOW THE VERSATILE MR REICHLER REPRESENTS THE DEMOCRATICALLY ELECTED GOVERNMENT THAT OUSTED THE SANDINISTAS AS THE USHAITI MIDDLEMAN MR BARNES HAS ON OCCASION DELIVERED BAD NEWS TO THE HAITIANS AS WELL AS CONVEYING ARISTIDE DEMANDS TO THOSE WORKING TO RESOLVE THE SITUATION LAST JANUARY HE PLAYED AN IMPORTANT ROLE IN CONVINCING AN ANGERED MR ARISTIDE TO ACCEPT RULES FOR DEPLOYMENT OF HUMANRIGHTS MONITORS THAT HAD BEEN DRAWN UP BY UN OFFICIALS WITHOUT CONSULTING THE HAITIANS BUT HE ALSO INSISTED DURING THE GOVERNORS ISLAND NEGOTIATIONS THAT THE UN DRAW UP A LETTER SPELLING OUT WHAT STEPS THE INTERNATIONAL COMMUNITY WOULD TAKE SUCH AS REIMPOSING AN ARMS AND OIL EMBARGO ON HAITI IF THE RULING MILITARY OFFICERS RENEGED ON THE ACCORD WHEN THEY DID BACK AWAY LAST MONTH THE SANCTIONS WERE REIMPOSED MR BARNES'S ROLE MAY BECOME EVEN MORE DIFFICULT IN THE WEEKS AHEAD IF THE CURRENT STALEMATE PERSISTS HE WILL BE FENDING OFF CALLS FOR GREATER CONCESSIONS THAN MR ARISTIDE IS WILLING TO MAKE MEANWHILE HE IS TRYING TO CONVINCE THE WHITE HOUSE TO VASTLY INCREASE THE PRESSURE ON HAITI'S MILITARY LEADERS WITH A TOTAL EMBARGO SOMETHING THE ADMINISTRATION ISN'T YET PREPARED TO SUPPORT ALTHOUGH HE MOSTLY HAS A MODERATING INFLUENCE OVER THE OFTENINFLEXIBLE MR ARISTIDE MR BARNES SOMETIMES ANNOYS US OFFICIALS BY REINFORCING HIS CLIENT'S HARDLINE VIEWS AT LAST WEEKEND'S MEETING IN HAITI FOR EXAMPLE HE INSISTED THAT THE HAITIAN MILITARY HADN'T HONORED A PLEDGE THAT THE ENTIRE GENERAL STAFF WOULD RESIGN PAVING THE WAY FOR MR ARISTIDE'S RETURN ACCORDING TO US OFFICIALS THESE OFFICIALS SAY THAT MR BARNES KNOWS THAT ONLY THE TOP MILITARY LEADER GEN RAOUL CEDRAS IS SPECIFICALLY OBLIGATED TO RESIGN BUT MR BARNES FAITHFULLY REFLECTS HIS CLIENT'S POSITION THAT EVERYONE ELSE MUST GO TOO I CAN'T BELIEVE THAT THIS HANDFUL OF THUGS IS GOING TO BE ALLOWED TO PREVAIL OVER THE COLLECTIVE WILL OF THE REST OF THE WORLD MR BARNES SAYS 9311120140 931112 DIVIDEND NEWS SILICON GRAPHICS INC SILICON GRAPHICS INC MOUNTAIN VIEW CALIF SAID DIRECTORS APPROVED A 2FOR1 STOCK SPLIT PAYABLE IN THE FORM OF A DIVIDEND DEC 15 TO STOCK OF RECORD NOV 30 THE MAKER OF COMPUTER WORKSTATIONS SAID THE SPLIT WILL INCREASE THE NUMBER OF SHARES OUTSTANDING TO 134 MILLION FROM 67 MILLION EDWARD MCCRACKEN PRESIDENT AND CHIEF EXECUTIVE OFFICER SAID THE MOVE SHOULD BENEFIT OUR STOCKHOLDERS AND THE COMPANY BY BROADENING OUR STOCKHOLDER BASE AND IMPROVING THE LIQUIDITY OF THE MARKET FOR THE STOCK 9311120139 931112 SCUDDER NEW ASIA FUND OFFER NEW YORK SCUDDER NEW ASIA FUND INC A CLOSEDEND FUND INVESTING IN ASIAN COMPANIES SAID IT PLANS TO RAISE ADDITIONAL FUNDS THROUGH A RIGHTS OFFERING TO ITS SHAREHOLDERS THE FUND WILL GIVE HOLDERS THE RIGHT TO PURCHASE ONE COMMON SHARE FOR EACH THREE SHARES OWNED THE PRICE OF EACH SHARE IS EXPECTED TO BE AT A DISCOUNT FROM MARKET BUT NOT LESS THAN NET ASSET VALUE IN NEW YORK STOCK EXCHANGE COMPOSITE TRADING YESTERDAY THE FUND CLOSED AT 23875 UP 50 CENTS 9311120138 931112 MEER CORP IS ACQUIRED NORTH BERGEN NJ MEER CORP SAID IT WAS ACQUIRED BY INTERNATIONAL FRUTAROM CORP A UNIT OF FRUTAROM LTD OF HAIFA ISRAEL TERMS WEREN'T DISCLOSED MEER IS AN IMPORTER AND PROCESSOR OF BOTANICALFLAVOR EXTRACTS AND WATERSOLUBLE GUMS A UNIT OF THE NEW YORK CHEMICAL AND PHARMACEUTICAL COMPANY ICC INDUSTRIES INC FRUTAROM LTD IS A MAKER OF AROMATIC CHEMICALS AND SPECIALTIES FOR THE FLAVOR AND FRAGRANCE INDUSTRY MEER AND FRUTAROM WILL OPERATE AS SEPARATE ENTITIES AND MAINTAIN THEIR INDIVIDUAL PRODUCT LINES MEER SAID 9311120137 931112 EVEREX SYSTEMS' ASSET SALE FREMONT CALIF EVEREX SYSTEMS INC A COMPUTER MANUFACTURER ANNOUNCED COMPLETION OF AN AGREEMENT FOR THE PURCHASE OF ITS KEY ASSETS BY THE YSIDE INVESTMENT GROUP AN ALLIANCE OF ASIAN INVESTORS LED BY TAIWANBASED FORMOSA PLASTICS GROUP TERMS OF THE PURCHASE WEREN'T DISCLOSED UNDER A PLAN APPROVED NOV 9 BY THE US BANKRUPTCY COURT YSIDE CHANGED ITS NAME TO EVEREX SYSTEMS INC AND IS NOW A UNIT OF FORMOSA PLASTICS GROUP 9311120136 931112 RTC SAYS PRICE WATERHOUSE WILL SHAVE MORE BILLINGS IN HOMEFED PACT DISPUTE BY GREG HITT STAFF REPORTER OF THE WALL STREET JOURNAL WASHINGTON THE US THRIFT RESCUE AGENCY SAID PRICE WATERHOUSE HAS AGREED TO DOUBLE THE ORIGINAL FINANCIAL CONCESSION THE FIRM MADE IN A CONTROVERSIAL CONTRACT DISPUTE THE RESOLUTION TRUST CORP SAID THE BIG SIX ACCOUNTING FIRM UNDER INVESTIGATION FOR BILLING IRREGULARITIES IN ITS DEALINGS WITH THE AGENCY HAS AGREED TO SHAVE 69 MILLION OFF OF BILLINGS ONCE ESTIMATED AT MORE THAN 25 MILLION FOR SERVICES PRICE WATERHOUSE PERFORMED IN THE CLEANUP OF HOMEFED BANK OF SAN DIEGO EARLIER THIS YEAR PRICE WATERHOUSE AGREED TO TRIM 20 OFF OF CERTAIN HOMEFED BILLINGS SAVING THE TAXPAYERS 34 MILLION ON THE CONTRACT ACCORDING TO THE RTC SUBSEQUENTLY THE AGENCY SAID IN A LETTER TO SEN JOSEPH LIEBERMAN D CONN THE FIRM AGREED TO TRIM AN ADDITIONAL 35 MILLION OFF OF ITS BILLS AFTER COMPLETING ITS OWN REVIEW OF ALL INVOICES THE AGENCY SAID ANOTHER 34 MILLION MIGHT BE SAVED DEPENDING ON THE OUTCOME OF A SERIES OF OPEN NEGOTIATIONS PETER KNIGHT HEAD OF THE RTC'S OFFICE OF GOVERNMENTAL RELATIONS SAID THE AGENCY EXPECTS TO PREVAIL ON A SIGNIFICANT PORTION OF THE 34 MILLION PRICE WATERHOUSE SPOKESMAN PETER HOROWITZ SAID THE FIRM'S OWN CALCULATIONS REVEAL A SOMEWHAT DIFFERENT SET OF FEE ADJUSTMENTS MR HOROWITZ AGREED THAT PRICE WATERHOUSE HAS MADE ADDITIONAL CONCESSIONS BUT EXPRESSED FRUSTRATION WITH THE RTC'S HANDLING OF THE CONTROVERSY SURROUNDING THE HOMEFED CONTRACT THE RTC HAS MADE EVERY EFFORT TO MAKE ITSELF LOOK LIKE A KNIGHT IN SHINING ARMOR MR HOROWITZ SAID THERE'S BEEN A SERIOUS POLITICAL AGENDA IN WASHINGTON AND TO SOME EXTENT WE'VE BEEN A VICTIM OF THAT WITH ASSETS IN EXCESS OF 10 BILLION HOMEFED'S FAILURE MORE THAN A YEAR AGO WAS BY FAR THE LARGEST EVER HANDLED BY THE RTC THE CLEANUP MOUNTED BY THE AGENCY HAS BEEN AMONG THE MOST COMPLEX AND THE MOST CRITICIZED OF PARTICULAR CONCERN TO THE CLINTON ADMINISTRATION HAS BEEN THE AGENCY'S OVERSIGHT OF THE FIRMS HIRED TO ASSIST IN THE MASSIVE OPERATION ALONG WITH PRICE WATERHOUSE WHICH WAS ACCUSED OF BILLING 67 CENTS A PAGE TO COPY HOMEFED DOCUMENTS GOLDMAN SACHS & CO HAS COME UNDER FEDERAL SCRUTINY RICHARD FARINA GENERAL COUNSEL OF THE RTC'S OVERSIGHT BOARD RECENTLY ALERTED THE INSPECTOR GENERAL TO ADMINISTRATION CONCERNS THAT GOLDMAN MAY HAVE BENEFITED FROM SOMEWHAT PECULIAR PAYMENT SCHEMES ADDED BELATEDLY TO THE FIRM'S HOMEFED CONTRACT AND AS A RESULT SHOULD NOT GET ITS FULL FEE 9311120135 931112 REVIEW & OUTLOOK EDITORIAL ASIDES PAT LOSES ONE PAT BUCHANAN'S EFFORT TO PULL THE REPUBLICAN PARTY TOWARD HIS VIEW OF THE US FUTURE HAS LOST AN IMPORTANT POTENTIAL ALLY IN THE FORTHCOMING ISSUE OF THE NATIONAL REVIEW WILLIAM F BUCKLEY WRITES AN ELOQUENT ENDORSEMENT OF NAFTA THE CONSUMER STANDS TO GAIN FROM THE FREEDOM TO BUY WHERE HE CHOOSES FROM WHOM HE CHOOSES THE ECONOMIC RATIONALIZATION OF HUMAN EFFORT SHOULD ALWAYS BE ENCOURAGED NOT SUPPRESSED 9311120134 931112 TWO CEMENT FIRMS IN JAPAN ANNOUNCE PLANS FOR A MERGER TOKYO ONODA CEMENT CO AND CHICHIBU CEMENT CO ANNOUNCED PLANS TO MERGE EFFECTIVE OCT 1 1994 ONODA IS ONE OF THE JAPAN'S FOUR BIGGEST CEMENT MAKERS CHICHIBU IS THE SIXTHLARGEST IN THE COUNTRY CEMENT MANUFACTURERS HAD HOPED FOR INCREASED DEMAND FROM MASSIVE GOVERNMENT PUBLIC WORKS PROJECTS BUT EROSION OF CEMENT PRICES AMID ECONOMIC WEAKNESS IS HURTING THE INDUSTRY TAKAHARU UNNO ONONDA'S EXECUTIVE SENIOR MANAGING DIRECTOR TOLD REPORTERS THAT THE SWAP OF 21 SHARES OF ONODA FOR EVERY SHARE OF CHICHIBU WOULD TAKE INTO ACCOUNT COMPARISONS OF RECENT HIGHS AND LOWS OF THE STOCKS AS WELL AS THE FISCAL HEALTH OF BOTH COMPANIES THE NEW COMPANY WILL HAVE CAPITAL OF 3475 BILLION YEN 324 MILLION AND TOTAL ASSETS OF 55722 BILLION YEN ONODA AND CHICHIBU PREDICT THAT THE NEW COMPANY WILL HAVE PRETAX PROFIT OF 820 BILLION YEN IN THE FISCAL YEAR ENDING MARCH 31 1995 AND PRETAX PROFIT OF 1060 BILLION YEN IN THE FOLLOWING FISCAL YEAR THEY PREDICT NET INCOME OF 430 BILLION YEN IN THE FISCAL YEAR THROUGH MARCH 1995 THEN 560 BILLION YEN IN THE FOLLOWING YEAR SALES ARE PEGGED BY THE COMPANIES TO COME IN AT 26450 BILLION YEN FOR THE FISCAL YEAR ENDING MARCH 1995 THE COMPANIES EXPECT THAT SALES WILL RISE TO 30630 BILLION YEN IN THE FOLLOWING FISCAL YEAR THE PLAN TO MERGE ONODA AND CHICHIBU IS THE LATEST IN A TREND OF CONSOLIDATION COOPERATION AND STREAMLINING AMONG JAPAN'S MANUFACTURERS AS THEY SEEK TO COPE WITH EXCESS CAPACITY A DOWNTURN IN DEMAND AND THE IMPACT OF A STRONGER YEN THIS YEAR HAS SEEN TWO MAJOR MERGERS OF PAPERMAKING COMPANIES TIEUPS BETWEEN MAJOR AUTOMOBILE MAKERS AND PRODUCTIONSHIFTING AMONG CHEMICAL COMPANIES TO ELIMINATE UNPROFITABLE OPERATIONS ONODA CLOSED IN TOKYO TRADING THURSDAY AT 522 YEN A SHARE UP FOUR YEN WHILE CHICHIBU WAS UNCHANGED AT 1200 YEN 9311120133 931112 MANAGEMENT STUDY FINDS PAY OF MORE CEOS IS STOCKBASED BY JOANN S LUBLIN STAFF REPORTER OF THE WALL STREET JOURNAL MORE CHIEF EXECUTIVE OFFICERS ARE GETTING RICHER BY HELPING TO MAKE SHAREHOLDERS RICHER SO CONCLUDES A STUDY OF THE NATION'S 1000 BIGGEST CORPORATIONS THE STUDY SCHEDULED FOR RELEASE NEXT WEEK OFFERS THE STRONGEST EVIDENCE YET THAT CORPORATE BOARDS ARE HEEDING SHAREHOLDER CRITICISM BY PLACING GREATER EMPHASIS ON STOCKBASED PAY FOR CEOS IT'S GOOD TO SEE THE MESSAGE IS GETTING THROUGH SAYS RALPH WHITWORTH PRESIDENT OF UNITED SHAREHOLDERS ASSOCIATION A WASHINGTON DC SHAREHOLDERRIGHTS GROUP THAT SPONSORED THE STUDY IT WAS CONDUCTED BY A HARVARD BUSINESS SCHOOL COMPENSATION EXPERT UNITED SHAREHOLDERS HAS LONG CONTENDED THAT STOCKBASED PAY WHILE POTENTIALLY MAKING SENIOR EXECUTIVES RICH ALSO ENCOURAGES THEM TO BOOST THE PRICE OF A COMPANY'S STOCK THE STUDY'S FINDINGS ALONG WITH A NEW TAX CAP ON CORPORATE DEDUCTIONS FOR EXECUTIVE PAY ABOVE 1 MILLION IS EXPECTED TO INCREASE PRESSURE ON BUSINESSES TO TIE EXECUTIVECOMPENSATION PACKAGES MORE CLOSELY TO STOCK VALUE THE ANALYSIS CALCULATES HOW MUCH AMERICA'S TOP CHIEF EXECUTIVES EARNED IN 1992 FOR EACH 1000 THAT THEIR SHAREHOLDERS AS A GROUP GAINED IN STOCKPRICE APPRECIATION AND DIVIDENDS IT THEN RANKS THE RESULTS KNOWN AS THE PAYPERFORMANCE SENSITIVITY OF THE CEOS IN 1992 THE MEDIAN SENSITIVITY WAS 748 PER 1000 THAT'S UP SHARPLY FROM 544 PER 1000 IN 1991 IN THE LATEST STUDY 119 CEOS HAD SENSITIVITIES UNDER 1 PER 1000 DOWN FROM 143 WHO RANKED THAT LOW IN 1991 AT THE SAME TIME THE NUMBER OF CHIEF EXECUTIVES WITH SENSITIVITY LEVELS EXCEEDING 100 PER 1000 INCREASED TO 97 LAST YEAR FROM 75 THE YEAR BEFORE IN COMPANIES WITH HIGHER SENSITIVITY LEVELS CEOS HAD GREATER INCENTIVES FROM STOCK OWNERSHIP RESTRICTED STOCK STOCK OPTIONS AND THE LIKE THESE CORPORATIONS HAVE PRODUCED THE HIGHEST RETURNS FOR SHAREHOLDERS OVER TIME THE STUDY SAYS SUGGESTING THAT COMPENSATION INCENTIVES REALLY DO MAKE A DIFFERENCE A FEW SENSITIVITY FIGURES WERE EXTREME ROY H PARK THE CHAIRMAN AND CEO OF MEDIA CHAIN PARK COMMUNICATIONS INC WHO DIED LAST MONTH LED THE RANKINGS BY EARNING 89609 FOR EACH 1000 CHANGE IN SHAREHOLDER VALUE IN SECOND PLACE WAS RUSSELL BERRIE CHAIRMAN OF RUSS BERRIE & CO HE EARNED 70364 FOR EACH 1000 CHANGE BOTH MEN FOUNDED THEIR COMPANIES MR PARK OWNED 896 OF PARK COMMUNICATIONS SHARES WHEN HE DIED AND MR BERRIE OWNS ABOUT 53 OF THE TOY MAKER IN FACT STOCK OWNERSHIP IS THE MOST IMPORTANT FACTOR IN A CHIEF'S PAYPERFORMANCE SENSITIVITY THE STUDY SUGGESTS CHIEF EXECUTIVES' RISING STAKES IN THEIR COMPANIES ACCOUNTED FOR NEARLY 50 CENTS OF LAST YEAR'S INCREASE IN THE MEDIAN SENSITIVITY REPORTS KEVIN MURPHY THE HARVARD ASSOCIATE PROFESSOR WHO DID THE STUDY AS A PROPORTION OF TOTAL SHARES OUTSTANDING PROF MURPHY ADDS THE MEDIAN STOCK HOLDINGS OF THE 1000 CHIEF EXECUTIVES ADVANCED 20 BETWEEN 1991 AND 1992 A 20 CHANGE IS A FAIRLY SIGNIFICANT TREND AND REVERSES NEARLY A DECADE OF DECLINING STOCK OWNERSHIP AMONG CEOS HE OBSERVES BUT THE CHANGE ISN'T SURPRISING TRYING TO GET THEIR EXECUTIVES TO THINK LIKE OWNERS MANY COMPANIES RECENTLY HAVE SET MANDATORY GUIDELINES FOR STOCK OWNERSHIP RICHARD DISBROW CHAIRMAN AND CEO OF AMERICAN ELECTRIC POWER CO UNTIL HIS RETIREMENT IN APRIL TOOK LAST PLACE IN THE UNITED SHAREHOLDERS ANALYSIS WITH A SENSITIVITY OF FOUR CENTS PER 1000 LAST YEAR THE ELECTRIC UTILITY HAD A TOTAL RETURN TO SHAREHOLDERS OF 42 A FIGURE A SPOKESMAN SAYS REFLECTED EARNINGS DEPRESSED BY MILD WEATHER THE SPOKESMAN ALSO SAYS AMERICAN ELECTRIC DOESN'T GIVE SENIOR EXECUTIVES STOCK OPTIONS OR RESTRICTED STOCK THE MILLIONDOLLAR TAX CAP MAY FURTHER SPUR THE TREND TOWARD STOCKBASED PAY COMPANIES CAN KEEP THEIR TAX DEDUCTIONS FOR HIGH EXECUTIVE PAY IF THEY CONNECT TOP EXECUTIVES' PAY TO SPECIFIC PERFORMANCE GOALS STOCK OPTIONS FOR EXAMPLE GENERALLY ARE EXEMPT AS LONG AS THEY ARE AWARDED AT FAIR MARKET VALUE OR HIGHER THUS THE STOCK MUST RISE FOR THE EXECUTIVE TO PROFIT 9311120132 931112 WHO'S NEWS GENERAL MOTORS CORP GENERAL MOTORS CORP DETROIT KEVIN N MCGRATH WAS NAMED PRESIDENT AND CHIEF EXECUTIVE OFFICER OF HUGHES COMMUNICATIONS INC THE SATELLITEOPERATING UNIT OF THE GM HUGHES ELECTRONICS SUBSIDIARY MR MCGRATH 40 WAS FORMERLY CHIEF FINANCIAL OFFICER AND SENIOR VICE PRESIDENT FOR HCI HE SUCCEEDS STEPHEN J PETRUCCI 59 WHO IS RETIRING ALSO RETIRING IS FREDERICK L JUDGE 59 CHIEF OPERATING OFFICER AND SENIOR VICE PRESIDENT OF HUGHES COMMUNICATIONS SUCCESSORS TO MESSRS MCGRATH AND JUDGE WEREN'T NAMED 9311120131 931112 GULF AIR ORDERS SIX BOEING 777S MAY BUY 6 MORE SALE FOR UP TO 840 MILLION IS SIGNIFICANT COMING AT INDUSTRY LOW POINT BY JEFF COLE STAFF REPORTER OF THE WALL STREET JOURNAL BOEING CO SAID MIDEAST CARRIER GULF AIR HAS ORDERED SIX OF THE JET MAKER'S ADVANCED TWINENGINE 777 AIRCRAFT WITH OPTIONS TO BUY SIX MORE OF THE PLANES EXCLUDING THE OPTIONS THE SALE IS VALUED AT BETWEEN 690 MILLION AND 840 MILLION BASED ON BOEING LIST PRICES FOR THE JET THE ORDER COMING IN THE WORST OF TIMES FOR THE AIRLINER MARKET OFFERS TIMELY REINFORCEMENT TO SEATTLEBASED BOEING'S IMAGE AS THE LEADING MAKER OF COMMERCIAL JETS THE COMPANY ALSO HAS BEEN HOPING TO SELL THE AIR FORCE FREIGHTER VERSIONS OF ITS 747 JUMBO JET AND YESTERDAY THE PENTAGON MANAGER WHO HOLDS SWAY OVER THAT DECISION TOURED FACTORIES AND MET WITH SENIOR COMPANY MANAGERS AS PART OF HIS STUDY OF THE PROSPECT ANY ORDER IN THE CURRENT ENVIRONMENT IS SORT OF MANNA FROM HEAVEN SAID WOLFGANG DEMISCH OF BT SECURITIES HE IS SKEPTICAL ABOUT WHETHER THE AIR FORCE EVER WILL BUY COMMERCIAL JETS WHEN IT HAS THE OPTION OF LEASING THEM OR ORDERING AIRLINE CARRIERS TO PERFORM MILITARY FLIGHTS UNDER THE CIVIL RESERVE AIR FLEET PROGRAM MR DEMISCH SAID THE GULF AIR SALE UNDERLINES AGAIN BOEING'S RELATIVE MARKET STRENGTH BECAUSE THEY'RE THE ONLY GUYS BOOKING NET POSITIVE ORDERS THUS FAR THIS YEAR THE ONLY OTHER MAKERS OF BIG AIRLINERS ARE EUROPE'S AIRBUS INDUSTRIE CONSORTIUM AND MCDONNELL DOUGLAS CORP OF ST LOUIS THE PLANE WHICH HAS SOAKED UP BILLIONS OF DOLLARS IN INVESTMENT BY BOEING IS BIG ENOUGH TO CARRY 330 PASSENGERS BUT IS DESIGNED TO BE ESPECIALLY ECONOMICAL BECAUSE IT HAS JUST TWO ENGINES THE AIRLINE WILL USE THE 777 TO FLY FROM ITS HEADQUARTERS IN BAHRAIN TO CITIES IN ASIA AUSTRALIA AND EUROPE IT HAS SELECTED GENERAL ELECTRIC CO GE90 ENGINES THE GULF AIR ORDER WHILE GOOD NEWS FOR BOEING WON'T SLOW PRODUCTION CUTS BEING MADE AT THE WIDEBODY AIRCRAFT PLANT AT EVERETT NORTH OF SEATTLE MORE SUCH REDUCTIONS ARE BEING CONSIDERED NOW SOME MANAGERS AND WORKERS WERE ENCOURAGED BY A VISIT THERE YESTERDAY FROM JOHN DEUTCH THE PENTAGON UNDERSECRETARY WHO IS CHARGED WITH DECIDING WHETHER TO BUY AS MANY AS 33 BOEING 747 FREIGHTERS OR A LARGER NUMBER OF 767S FOR USE BY THE MILITARY AFTER THE VISIT WHICH WAS ARRANGED BY REP NORM DICKS A WASHINGTON DEMOCRAT MR DEUTCH SAID IN AN INTERVIEW HE IS INFORMING MYSELF ABOUT ALTERNATIVES FOR MEETING MILITARY AIRLIFT NEEDS TO REPLACE AGING C141 AIRLIFTERS HE SAID HE IS EXAMINING THE POSSIBLE USE OF THE 747S BOEING 767S MCDONNELL DOUGLAS MD11S AND LOCKHEED CORP C5B TRANSPORTS WE WILL EVALUATE ALL OF THOSE BEFORE WE MAKE A DECISION THE DEFENSE ACQUISITION BOARD THAT MR DEUTCH IS CHAIRMAN OF IS SCHEDULED TO MEET THIS MONTH TO SETTLE THE FATE OF THE C17 AND HE IS EXPECTED TO TESTIFY SOON ON THE MATTER BEFORE CONGRESS AFTER A THOROUGH SIXMONTH ANALYSIS OF MCDONNELL DOUGLAS'S C17 PROGRAM MR DEUTCH SAID HE STILL HAS GREAT CONCERNS ABOUT THE PERFORMANCE OF THE COMPANY A LOCKHEED PROPOSAL TO REBUILD THE C141S HASN'T BEEN RULED OUT HE SAID BUT THE ANALYSIS I'VE SEEN AND THE COSTS MAKE IT THE LEAST ATTRACTIVE OPTIMISM INCREASED AT BOEING OVER ITS PROSPECTS FOR AN AIR FORCE ORDER LATE LAST WEEK AFTER HOUSE AND SENATE CONFEREES SET ASIDE 100 MILLION THAT COULD BE USED TO BEGIN SETTING UP A PROGRAM FOR BUYING COMMERCIAL JETS MIKE BOYCE DIRECTOR OF BUSINESS DEVELOPMENT FOR BOEING'S MILITARYAIRPLANES UNIT SAID THE ALLOCATION SHOWS CONGRESS APPROVES OF COMMERCIALJET PURCHASES IF THE PENTAGON DECIDES TO PURSUE IT CONGRESS HAS AGREED TO PROCEED WITH LIMITED PRODUCTION OF THE C17 FOR NOW DESPITE HUGE COST OVERRUNS AND DEVELOPMENT PROBLEMS BUT THE PROGRAM IS ESSENTIALLY ON PROBATION WITH CONGRESS THE CONGRESSIONAL PANEL INCLUDED LANGUAGE IN THE BUDGET THAT COULD MAKE AVAILABLE AN ADDITIONAL 300 MILLION IN THIS BUDGET YEAR FOR WIDEBODY COMMERCIAL JETS IF THE C17 PROGRAM FAILS TO MEET SPECIFIC PERFORMANCE HURDLES IN NEW YORK STOCK EXCHANGE COMPOSITE TRADING BOEING ROSE 125 CENTS TO 35625 9311120130 931112 MARKETING & MEDIA RECORD COMPANIES REJECT DEVICE MADE BY SENSORMATIC BY PATRICK M REILLY STAFF REPORTER OF THE WALL STREET JOURNAL STOCKS OF TWO COMPETING ANTITHEFT DEVICE MAKERS REACTED SHARPLY AFTER THE NATION'S LARGEST MUSIC DISTRIBUTORS REJECTED SENSORMATIC ELECTRONIC CORP'S SYSTEM BECAUSE THEY SAID IT DEGRADES THE QUALITY OF AUDIO CASSETTES EARLIER THIS YEAR THE NATIONAL ASSOCIATION OF RECORDING MERCHANDISERS AN INDUSTRY GROUP REPRESENTING MUSIC RETAILERS RECOMMENDED SENSORMATIC'S ACOUSTOMAGNETIC TECHNOLOGY AS THE STANDARD FOR SOURCELABELING OF MUSIC PRODUCTS TO PREVENT SHOPLIFTING THE DEERFIELD BEACH FLA COMPANY'S SYSTEM WAS CHOSEN FOR USE ON COMPACT DISKS VIDEOTAPES AND CERTAIN AUDIO TAPES BUT AFTER MONTHS OF TESTING BY THE DISTRIBUTION ARMS OF SONY CORP BERTELSMANN AG POLYGRAM NV AND THREE OTHER MAJOR MUSIC DISTRIBUTORS THE RECORDING INDUSTRY ASSOCIATION OF AMERICA WHICH REPRESENTS THE DISTRIBUTORS SAID THAT THE SENSORMATIC SYSTEM WAS FOUND UNACCEPTABLE THE GROUP SAID ACOUSTOMAGNETIC TECHNOLOGY DEGRADES THE SOUND QUALITY OF CASSETTES TO AN UNACCEPTABLE DEGREE DURING THE DEACTIVATION PROCESS SUCH AS WHEN A TAPE IS PASSED THROUGH STORE SECURITY SYSTEMS AT CHECKOUT COUNTERS THE NEWS SENT SENSORMATIC SHARES TUMBLING 450 OR 94 TO 4350 IN COMPOSITE TRADING ON THE NEW YORK STOCK EXCHANGE SHARES OF CHECKPOINT SYSTEMS INC A COMPETING MAKER OF ANTITHEFT SYSTEMS ROSE 2375 OR 226 TO 12875 CHECKPOINT OF THOROFARE NJ USES A RADIOFREQUENCY TECHNOLOGY THAT IT CONTENDS DOESN'T HARM AUDIO PRODUCTS CHECKPOINT SAYS CUSTOMERS FOR ITS TECHNOLOGY INCLUDE BARNES & NOBLE BOOKSTORES THE BRADLEES AND CALDOR DEPARTMENT STORE CHAINS AND CIRCUIT CITY STORES INC THE CONSUMERELECTRONICS CHAIN AMONG OTHERS SENSORMATIC EXECUTIVES COULDN'T BE REACHED TO COMMENT LAST NIGHT BUT EARLIER SENSORMATIC PLAYED DOWN THE MUSIC GROUP'S REPORT BLAMING A LACK OF COMMUNICATION BETWEEN THE RECORDING INDUSTRY ASSOCIATION AND THE MUSIC COMPANIES IT REPRESENTS OVER HOW THE ELECTRONIC DEVICE WAS TO BE TESTED ACCORDING TO THE DOW JONES NEWS SERVICE CHECKPOINT URGED THE MUSIC RETAILERS' GROUP TO RECOMMEND RADIOFREQUENCY TECHNOLOGY INSTEAD AN RIAA SPOKESMAN SAID THE MUSIC COMPANIES WANTED TO WORK TOGETHER WITH THE RETAILERS IN FINDING AN ACCEPTABLE ANTITHEFT STANDARD THE RECORD GROUP SUGGESTED THAT NARM REVISE CRITERIA FOR CHOOSING A SYSTEM OR CONSIDER TESTING OTHER SECURITY TECHNOLOGIES 9311120129 931112 COMMODITIES GRAIN FUTURES SOAR FOR SECOND DAY IN A ROW PROFITTAKING LATE IN SESSION ERASES SOME GAINS BY JEFFREY TAYLOR STAFF REPORTER OF THE WALL STREET JOURNAL CHICAGO GRAIN FUTURES PRICES ROARED HIGHER FOR A SECOND CONSECUTIVE DAY IN RESPONSE TO THE SMALLERTHANEXPECTED US HARVEST BUT SPECULATORS ERASED SOME OF THE GAINS BY TAKING PROFITS LATE IN THE SESSION AT THE CHICAGO BOARD OF TRADE CORN FOR DECEMBER DELIVERY WAS UP 4 1/4 CENTS TO 27775 A BUSHEL WHILE THE PRICE OF THE ACTIVELY TRADED JANUARY SOYBEAN FUTURES CONTRACT ROSE 13 CENTS TO 682 A BUSHEL SINCE TUESDAY WHEN THE US AGRICULTURE DEPARTMENT RELEASED ITS BULLISH REPORT ON THE STATE OF US CASH CROPS THE PRICE OF THE DECEMBER CORN CONTRACT HAS CLIMBED MORE THAN 6 WHILE THE PRICE OF JANUARY SOYBEANS HAS RISEN NEARLY 7 THE USDA ESTIMATED THE NATION'S CORN HARVEST AT 65 BILLION BUSHELS A PROJECTION THAT WAS SUBSTANTIALLY BELOW BOTH MARKET EXPECTATIONS AND THE DEPARTMENT'S OWN FORECAST OF 696 BILLION BUSHELS A MONTH EARLIER THE USDA PEGGED THE SOYBEAN CROP AT 183 BILLION BUSHELS ALSO WELL BELOW MARKET EXPECTATIONS YESTERDAY THE CHICAGO BOARD OF TRADE'S GRAIN MARKET OPENED SHARPLY HIGHER ON CONTINUING CONCERNS OF GRAIN SUPPLY SHORTAGES THAT MAY RESULT FROM THE LOW US HARVEST FIGURES AT ONE POINT THE DECEMBER CORN CONTRACT WAS UP 14 CENTS AT 288 A BUSHEL AND THE JANUARY SOYBEAN CONTRACT WAS UP 18 CENTS AT 687 BUT WAVES OF PROFITTAKING BY SMALL SPECULATORS AND COMMODITY FUNDS WHICH ARE MANAGED POOLS OF INVESTORS' MONEY THEN HIT THE MARKET AS THESE INVESTORS SOLD FUTURES CONTRACTS ANALYSTS SAID THOSE WHO HAD LOOKED AT WINDFALL GAINS OVER THE PAST COUPLE OF DAYS WERE LOCKING IN THEIR PROFITS SAID DANIEL W BASSE MARKET RESEARCH DIRECTOR FOR AGRESOURCE CO CHICAGO EVERYBODY WAS WARY OF A TECHNICAL CORRECTION SO THEY WERE QUICK TO SELL STILL THERE WAS SUFFICIENT STRENGTH IN THE MARKET FOR PRICES TO SETTLE HIGHER MANY ANALYSTS EXPECT GRAIN FUTURES PRICES TO CONTINUE TO RISE OVER THE NEXT FEW WEEKS BECAUSE OF TIGHT SUPPLIES OF PARTICULAR SIGNIFICANCE IS THE US USAGE OF CORN FOR LIVESTOCK FEED CORN PRICES WILL PROBABLY RISE TO A LEVEL LIKELY TO BE ABOVE 3 A BUSHEL AT WHICH IT BECOMES UNPROFITABLE TO USE CORN AS FEED ANALYSTS SAID WITH SUPPLIES AS TIGHT AS THEY ARE HOG AND OTHER LIVESTOCK FARMERS WILL BE COMPELLED TO USE CHEAPER ALTERNATIVE GRAINS AS FEED TRADERS WILL AWAIT THE USDA'S JANUARY STOCKSINALLPOSITIONS REPORT IN WHICH THE DEPARTMENT WILL ESTIMATE FEED CONSUMPTION OF US GRAINS SUCH CONSUMPTION BY LIVESTOCK ACCOUNTS FOR ABOUT 60 OF ALL USE OF US CORN FOR INSTANCE THE REPORT WILL BE ESPECIALLY IMPORTANT THIS YEAR BECAUSE IT WILL GIVE TRADERS A CLUE TO HOW MUCH FARMERS ARE CUTTING BACK THEIR USE OF CORN AS FEED FOR LIVESTOCK IN OTHER COMMODITY MARKETS YESTERDAY ENERGY CRUDE OIL PRODUCT FUTURES PRICES SETTLED SHARPLY HIGHER YESTERDAY AFTER REPORTS THAT SAUDI ARABIA BELIEVES A CUT IN THE CURRENT OUTPUT CEILING OF THE ORGANIZATION OF PETROLEUM EXPORTING COUNTRIES IS A POSSIBILITY ACCORDING TO DOW JONES INTERNATIONAL REPORT AN INDIVIDUAL FAMILIAR WITH SAUDI OIL POLICY SAID REDUCING MINIMUM OUTPUT LEVEL TO LESS THAN 2452 MILLION BARRELS A DAY COULDN'T BE RULED OUT AS A MEANS OF BOOSTING PRICES BUT THE SOURCE SAID HE COULDN'T SAY WHETHER SAUDI ARABIA WOULD CONSIDER CUTTING ITS QUOTA OF EIGHT MILLION BARRELS DAILY EVEN IF IT WERE PART OF A WIDER OPEC CUT OPEC MEETS NOV 23 IN VIENNA AGAINST A BACKDROP OF WEAK PRICES WHICH FELL TO THREEYEAR LOWS THIS WEEK IN RESPONSE TO GLUTTED SUPPLIES AND SLUGGISH DEMAND THE NEWS THAT SAUDI ARABIA THE GROUP'S LARGEST PRODUCER WOULDN'T RULE OUT AN OPEC OUTPUT CUT PUT A FLOOR UNDER MARKET PRICES AND TRIGGERED BUYING COTTON COTTON FUTURES PRICES CONTINUED THEIR RALLY FOR A SECOND DAY BECAUSE OF THE AGRICULTURE DEPARTMENT'S UNEXPECTEDLY LOW ESTIMATE OF THE US COTTON CROP AT NEW YORK'S COTTON EXCHANGE COTTON FOR DECEMBER DELIVERY WAS UP 123 CENTS TO 5890 CENTS A POUND ON TUESDAY THE USDA REDUCED ITS ESTIMATE OF THE US COTTON CROP TO 163 MILLION BALES WELL BELOW MOST ANALYSTS' EXPECTATIONS OF A CROP OF ABOUT 167 MILLION BALES THE WEAK HARVEST IS EXPECTED TO CREATE SUPPLY SHORTAGES AND PUSH PRICES HIGHER IN COMING WEEKS ANALYSTS SAID 9311120128 931112 SAFEGUARD OFFERS STOCK IN UNIT WAYNE PA SAFEGUARD SCIENTIFICS INC AN INFORMATION TECHNOLOGY CONCERN WILL OFFER ITS SHAREHOLDERS THE RIGHT TO PURCHASE STOCK IN A SUBSIDIARY COHERENT COMMUNICATIONS SYSTEMS CORP COHERENT MANUFACTURES AND LICENSES PRODUCTS FOR THE TELECOMMUNICATIONS INDUSTRY THAT ENHANCE VOICE AND DATA TRANSMISSION THE RIGHTS OFFERING WILL BE MADE ON THE BASIS OF ONE SHARE OF COHERENT FOR EVERY THREE SHARES OF SAFEGUARD STOCK SAFEGUARD ANTICIPATES COMMENCING THE OFFERING IN THE FIRST QUARTER OF 1994 PENDING APPROVAL BY THE SECURITIES AND EXCHANGE COMMISSION 9311120127 931112 BUSINESS BRIEF BIDDERS FOR KATY SPLIT UP BUT ROSECLIFF SAYS IT MAY MAKE AN INDEPENDENT OFFER THE PARTNERSHIP THAT'S BEEN PURSUING A 262 MILLION BID FOR KATY INDUSTRIES INC SPLIT UP BUT ONE OF THE PARTIES ROSECLIFF INC SAID IT'S PREPARED TO MAKE AN INDEPENDENT BID FOR THE INDUSTRIAL CONCERN THE JOINT PURSUIT WAS BEING CONDUCTED BY ROSECLIFF PENSLER PARTNERS LP AN ENTITY FORMED BY THE COMBINATION OF ROSECLIFF INC AND PENSLER CAPITAL CORP ROSECLIFF IS HEADED BY PETER T JOSEPH WHO FORMERLY WAS WITH ACADIA PARTNERS ACADIA HAS CONDUCTED ACQUISITIONS ON BEHALF OF THE BASS FAMILY AND OTHER INVESTORS PENSLER IS LED BY FORMER DILLON READ MANAGING DIRECTOR SANFORD N PENSLER THE CARROLL FAMILY HOLDS A 52 STAKE IN KATY AND HAS BEEN PLANNING SINCE MARCH TO TAKE KATY PRIVATE BY BUYING THE PORTION IT DOESN'T CONTROL FOR 2575 A SHARE SHAREHOLDERS ARE TO VOTE ON THAT MEASURE AT A DELAYED MEETING NOW SET FOR NOV 29 IN EARLY SEPTEMBER HOWEVER ROSECLIFF PENSLER STEPPED IN WITH A COMPETING 29ASHARE PROPOSAL THE CARROLL FAMILY HAS SAID IT ISN'T INTERESTED IN SELLING ITS CONTROLLING STAKE AND THAT AS A RESULT THE ROSECLIFFPENSLER BUYOUT CAN'T BE CONSUMMATED SINCE THE SHAREHOLDER VOTE REQUIRES ONLY A SIMPLE MAJORITY THE CARROLL FAMILY'S BID HAS SEEMED LIKELY TO PREVAIL ABSENT SOME KIND OF COURT INTERVENTION YESTERDAY KATY MADE PUBLIC A NOV 10 LETTER THE CARROLL FAMILY HAD WRITTEN TO THE LAWYER FOR ROSECLIFF PENSLER THE LETTER ASSERTS THAT AT A WEDNESDAY HEARING IN DELAWARE CHANCERY COURT YOUR DELAWARE COUNSEL ADVISED THE COURT THAT THERE HAS BEEN A FALLING OUT BETWEEN ROSECLIFF AND PENSLER AND THAT ONE OF THOSE ENTITIES WAS OR MAY BE DROPPING OUT OF THE BIDDING FOR KATY AND THAT THE REMAINING PARTNER WAS IN THE PROCESS OF ATTEMPTING TO SECURE A SUBSTITUTE PARTNER AND/OR SUBSTITUTE FINANCING TRADING IN KATY SHARES HAD BEEN HALTED PENDING THE COMPANY'S DISCLOSURE AFTER TRADING RESUMED THE STOCK SLID 150 TO 26 IN LATE NEW YORK STOCK EXCHANGE TRADING AFTER THE MARKET'S CLOSE ROSECLIFF INC DISCLOSED IT HAD WRITTEN TO KATY'S CHAIRMAN THAT WE HAVE TERMINATED OUR ARRANGEMENTS WITH PENSLER A SPOKESWOMAN SAID SHE COULDN'T COMMENT FURTHER MR JOSEPH SAID ROSECLIFF IS WILLING TO MAKE AN INDEPENDENT BID FOR KATY AT A PRICE SUBSTANTIALLY HIGHER THAN THE PENDING CARROLL OFFER HE CAUTIONED THAT SUCH A BID WOULD DEPEND ON RECEIPT OF AN INDICATION FROM THE BOARD THAT IT WOULD CONSIDER SUCH AN OFFER AS WELL AS SOME EVIDENCE FROM THE CARROLL FAMILY THAT THEY WISH THE BOARD TO EXPLORE A TRANSACTION WITH US IN ELGIN ILL A KATY OFFICIAL SAID THE COMPANY HAD JUST RECEIVED THE ROSECLIFF LETTER AND HAD NO IMMEDIATE COMMENT MR PENSLER COULDN'T BE REACHED 9311120126 931112 DUPONT ADVOCATE FOR FAMILY ISSUES JOINS GOVERNMENT BY SUE SHELLENBARGER STAFF REPORTER OF THE WALL STREET JOURNAL IN AN EFFORT TO TURN THE FEDERAL GOVERNMENT INTO A MODEL OF FAMILYFRIENDLINESS THE CLINTON ADMINISTRATION HAS HIRED A LEADING PRIVATESECTOR ADVOCATE FROM DUPONT CO TO HEAD A NEW FEDERAL OFFICE OF WORKPLACE INITIATIVES FAITH WOHL 57 IS TAKING EARLY RETIREMENT FROM HER POST AS DIRECTOR OF HUMANRESOURCES INITIATIVES AT DUPONT WHERE SHE HAS CHAMPIONED WORKFAMILY AND DIVERSITY PROGRAMS HER PLANNED DEPARTURE EFFECTIVE DEC 1 WAS DISCLOSED TO DUPONT EMPLOYEES THIS WEEK AN OUTSPOKEN CRITIC OF RIGID WORKPLACE PRACTICES THAT SHE SAYS DEMORALIZE AND DISCRIMINATE AGAINST PEOPLE WITH PRESSING FAMILY NEEDS MS WOHL HAS BEEN ONE OF THE MOST FORCEFUL INTERNAL CORPORATE ADVOCATES FOR FLEXIBLE SCHEDULES PARENTAL LEAVE AND WORKATHOME AND JOBSHARING POLICIES HER SOMETIMES CONTROVERSIAL EFFORTS HELPED PROPEL MOSTLY MALE DUPONT TO LAST YEAR'S TOP 10 LIST OF FAMILYFRIENDLY COMPANIES AS RANKED BY THE FAMILIES AND WORK INSTITUTE A NONPROFIT NEW YORK RESEARCH CONCERN BUT MS WOHL HAS HER WORK CUT OUT FOR HER IN WASHINGTON WHERE SHE IS CHARGED IN PART WITH HELPING THE OFFICE OF PERSONNEL MANAGEMENT MAKE TELECOMMUTING AND OTHER FLEXIBLE SCHEDULING OPTIONS MORE WIDELY AVAILABLE TO FEDERAL EMPLOYEES THE GENERAL SERVICES ADMINISTRATION HAS AGGRESSIVELY EXPANDED ITS CHILDCARE OFFERINGS IN RECENT YEARS TO BECOME THE NATION'S LARGEST SPONSOR OF EMPLOYERSPONSORED CENTERS WITH MORE THAN 90 SCATTERED AROUND THE COUNTRY BUT THE GSA HAS DRAWN CRITICISM FROM THE GENERAL ACCOUNTING OFFICE AND OTHERS FOR FAILING TO MOVE QUICKLY ENOUGH ON FLEXIBLE SCHEDULING MS WOHL SAYS SHE HAS BEEN ASKED TO HELP THE FEDERAL GOVERNMENT SET AN EXAMPLE OF FAMILYFRIENDLY WORK PRACTICES AND TO ACCOMPLISH SOME OF THE SAME THINGS AS WE HAVE AT DUPONT MS WOHL MET HILLARY RODHAM CLINTON IN THE 1980S WHEN BOTH WERE MEMBERS OF A TEAM OF US CHILDCARE EXPERTS WHO VISITED FRANCE TO STUDY CHILDCARE POLICIES THERE THEY HAVE EXCHANGED A FEW LETTERS AND MS WOHL SAYS SHE HAS BEEN CONTACTED BY CLINTON ADMINISTRATION OFFICIALS ABOUT ROLES SHE MIGHT PLAY IN WASHINGTON IN A FIELD WHERE MOST COMPANIES WANT TO BE SECOND TO TRY SOMETHING NEW MS WOHL A MOTHER OF THREE AND GRANDMOTHER OF SEVEN HELPED MAKE DUPONT A LEADER IN EMPLOYEE WORKFAMILY RESEARCH EMPLOYERSPONSORED CHILD CARE AND FLEXIBLE SCHEDULING THE COMPANY'S LATE1980S SURVEYS WERE AMONG THE FIRST TO MAKE WORKFAMILY CONFLICT A MAINSTREAM ISSUE INDICATING THAT BOTH MEN AND WOMEN ARE CONCERNED ABOUT CHILD CARE AND THAT BOTH SEXES TURN DOWN TRAVEL AND RELOCATION BECAUSE OF FAMILY NEEDS 9311120125 931112 DISNEY OUTLINES PLAN FOR A THEME PARK AT SITE IN VIRGINIA COST OF ITS THIRD SUCH COMPLEX IN THE US IS SAID TO RANGE TO AS MUCH AS 800 MILLION BY RICHARD TURNER STAFF REPORTER OF THE WALL STREET JOURNAL BURBANK CALIF WALT DISNEY CO OUTLINED PLANS FOR ITS THIRD US THEME PARK COMPLEX A HISTORICALLY THEMED DISNEY'S AMERICA IN PRINCE WILLIAM COUNTY VA ABOUT 30 MILES WEST OF WASHINGTON DC THE OFFICIAL ANNOUNCEMENT CAME JUST A DAY AFTER DISNEY'S 49OWNED EURO DISNEY SCA REPORTED A LOSS OF ALMOST 900 MILLION FOR ITS FIRST FULL YEAR OF OPERATION RAISING QUESTIONS ABOUT WHETHER DISNEY'S PAST THEMEPARK SUCCESSES CAN BE TRANSLATED TO NEW VENUES THE PROPOSED VIRGINIA PARK REPRESENTS A BOLD GAMBLE IN SOME RESPECTS BUT ITS COST LOWERS THE RISK THAT COST WASN'T DISCLOSED BUT INDIVIDUALS CLOSE TO DISNEY PLACED IT AT ABOUT 500 MILLION TO 800 MILLION FAR SMALLER THAN THE 3 BILLION PLANNED FOR DISNEY'S NEW WEST COAST RESORT IN ANAHEIM CALIF WHICH STILL IS AWAITING COMPANY APPROVAL AND THE 4 BILLION SPENT ON THE EURO DISNEY RESORT OUTSIDE PARIS DISNEY SAID THE PARK PLANNED IN VIRGINIA WOULD CREATE 3000 JOBS AND GENERATE AN ESTIMATED 15 BILLION IN DIRECT AND INDIRECT TAX REVENUE DURING THE NEXT 30 YEARS IF CERTAIN CONCESSIONS CAN BE WRUNG OUT OF STATE AND COUNTY OFFICIALS NO SMALL MATTER THE PARK COULD BE APPROVED WITHIN SIX MONTHS AND OPEN IN 1998 DISNEY SAID VIRGINIA GOVELECT GEORGE ALLEN SAID HIS NEW ADMINISTRATION WOULD KICK DOWN ANY HURDLES THAT YOU HAVE THE PARK ITSELF WILL BE 1200 ACRES AND BUILT ON A SITE TOTALING 3000 ACRES LARGER THAN DISNEYLAND'S 85ACRE URBAN PARK BUT COMPARABLE TO THE ORIGINAL DISNEYLAND IN ITS NUMBER OF ATTRACTIONS AND AMBITIONS GUESTS WILL MEET AUDIOANIMATRONIC PRESIDENTS VISIT A NATIVE AMERICAN VILLAGE AND LEARN HOW TO MILK A COW AT A FAMILY FARM ALSO PLANNED IS A CIVIL WAR FORT A SMALLTOWN STATE FAIR WITH ROLLER COASTER AND FERRIS WHEEL A WRIGHT BROTHERS ATTRACTION AN ELLIS ISLAND FACILITY AND A THRILL RIDE CALLED INDUSTRIAL REVOLUTION DISNEY IS CAREFULLY EMPHASIZING A PLURALISM THEME WITH THE MAJOR EMPHASIS ON THE DIVERSITY OF AMERICA DESPITE THE LESSER RISK THE PROPOSED DISNEY'S AMERICA CLEARLY ISN'T RISKFREE DISNEY HAS NEVER BUILT A PARK WITHOUT ITS CENTERPIECE MAGIC KINGDOM AND NEVER A STANDALONE PARK WITH SUCH LIMITED SCOPE SOME QUESTION WHETHER IT IS WORTHWHILE FOR DISNEY TO BUILD SOMETHING LESS THAN A MAJOR PARK WHEN IT MUST SPEND AND CHARGE PATRONS ENOUGH TO PRESERVE ITS QUALITY REPUTATION MOREOVER THE PARK COULDN'T OPERATE IN YEARROUND SUNSHINE AS DO DISNEY'S OTHER US PARKS IN SOUTHERN CALIFORNIA AND FLORIDA TO A DEGREE EVERY PARK OUTSIDE THOSE AREAS IS A REGIONAL PARK AND THEME PARK EXECUTIVES SAY EVEN THE BIGGEST TIME WARNER INC'S SIX FLAGS CHAIN AND PARAMOUNT COMMUNICATIONS INC'S KINGS PARKS AREN'T WILDLY DIFFERENT FROM OLDTIME CARNIVALS A FEW WEEKS OF RAIN CAN KILL YOU SAYS ONE TROUBLED EURO DISNEY ENDURES SEVERAL MONTHS A YEAR OF INCLEMENT WEATHER PARAMOUNT'S KINGS DOMINION NEAR RICHMOND VA IS CLOSED FIVE MONTHS BUT DISNEY PLANS TO CLOSE DOWN ITS VIRGINIA PARK FOR ONLY SIX WEEKS IN THE DEPTHS OF JANUARY AND FEBRUARY IN AN INTERVIEW MICHAEL EISNER DISNEY'S CHAIRMAN DISMISSED COLD AND RAIN AS A FACTOR OUR PROBLEM AT EURO DISNEY IS NOT THE WEATHER HE SAID WE HAVE HIT OUR ATTENDANCE PRO FORMAS WE JUST HAVEN'T HIT OUR FINANCIAL PRO FORMAS AND PER CAPS SPENDING PER VISITOR HE SAID EURO DISNEY'S PROBLEMS STEMMED FROM ITS INITIAL HIGH COST EVERYTHING COSTS 40 MORE IN FRANCE HE SAID HE ALSO BLAMED ECONOMIC FACTORS MAINLY THE CURRENT EUROPEAN RECESSION AND THE FACT THAT DISNEY BUILT TOO MANY EXPENSIVE HOTELS THAT HAVE HIGH FIXED COSTS AND ARE PARTLY DORMANT DURING THE WINTER MONTHS MR EISNER SAID HE EXPECTS THAT DISNEY'S AMERICA WOULD LARGELY DRAW VISITORS ON DAY TRIPS FROM WASHINGTON FOR THIS REASON IT WON'T CANNIBALIZE WALT DISNEY WORLD IN FLORIDA WHICH IS A DESTINATION RESORT HE SAID HE ADDED THAT DISNEY'S AMERICA NEEDN'T BE AS LAVISH AS EURO DISNEY BECAUSE AMERICANS KNOW WHAT A THEME PARK IS AND BECAUSE IT DOESN'T HAVE TO COMPETE WITH ELEGANT CATHEDRALS AND CASTLES AT EURO DISNEY WE HAD TO BUILD SUCH AN UNBELIEVABLY FANTASTIC PLACE WE'LL NEVER SEE ANOTHER PRIVATE COMPANY BUILD ANYTHING LIKE IT IN 500 YEARS HE ADDED THE VIRGINIA COMPLEX WILL BE FINANCED INTERNALLY UNLIKE EURO DISNEY WHICH WAS BUILT WITH BANK LOANS AND FUNDS RAISED THROUGH A PUBLIC STOCK OFFERING DISNEY EXECUTIVES SAY THE TIMING WAS COINCIDENTAL BUT THE ANNOUNCEMENT OF AGGRESSIVE NEW THEMEPARK DEVELOPMENT PROVIDES AN ANTIDOTE TO THE IMAGE OF A COMPANY REELING FROM BAD NEWS WEDNESDAY'S ANNOUNCEMENT OF EURO DISNEY'S LOSS WAS ACCOMPANIED BY NEWS THAT WALT DISNEY CO HAD ITS FIRST QUARTERLY NET LOSS SINCE THE EISNER TEAM TOOK OVER ALMOST A DECADE AGO REFLECTING A 350 MILLION CHARGE FOR THE COMPANY'S INVESTMENT IN EURO DISNEY MOODY'S INVESTORS SERVICE INC YESTERDAY PLACED 3 BILLION IN LONGTERM DISNEY DEBT UNDER REVIEW FOR POSSIBLE DOWNGRADE IN COMPOSITE NEW YORK STOCK EXCHANGE TRADING YESTERDAY DISNEY FELL 75 CENTS TO CLOSE AT 40375 ON VOLUME OF 25 MILLION SHARES EURO DISNEY SHARES MEANWHILE CONTINUED TO TUMBLE PLUNGING 13 TO 370 PENCE 547 ON THE LONDON STOCK EXCHANGE THURSDAY A DAY EARLIER THE SHARES FELL 13 IN PARIS AND 14 IN LONDON THE PARIS STOCK EXCHANGE WAS CLOSED THURSDAY FOR A PUBLIC HOLIDAY THOUGH DISNEY IS MAKING THREATENING NOISES ABOUT EURO DISNEY'S POTENTIAL LOSS OF LIQUIDITY IF RESTRUCTURING DISCUSSIONS AREN'T SUCCESSFUL IT SEEMS PROBABLE THAT DISNEY WILL BAIL OUT EURO DISNEY FOR SOME TIME WHILE ANGLING FOR THE FRENCH GOVERNMENT AND EUROPEAN SHAREHOLDERS TO SHARE SOME OF THE LOAD THE IDEA FOR DISNEY'S AMERICA CAME ABOUT THREE YEARS AGO MR EISNER SAID WHEN HE VISITED RESTORED COLONIAL WILLIAMSBURG VA AND NEARBY JAMESTOWN WHICH IS THE SETTING FOR DISNEY'S ANIMATED FEATURE MOVIE POCAHANTAS IT WAS DECIDED HOWEVER THAT THE RICHMONDWILLIAMSBURG AREA HOME OF PARAMOUNT'S KINGS DOMINION WAS TOO FAR FROM WASHINGTON AND EFFORTS TO ACQUIRE LAND BEGAN DISNEY SECRETLY BEGAN ACQUIRING LAND ABOUT TWO YEARS AGO BUT FIRST CONTACTED COUNTY OFFICIALS ONLY SEVERAL WEEKS AGO AND VIRGINIA'S OUTGOING GOV DOUGLAS WILDER LAST WEEK MR EISNER SAID HE DIDN'T EXPECT OVERWHELMING REGULATORY AND ENVIRONMENTAL HURDLES MR EISNER ALSO SAID THAT HE EXPECTED TO ANNOUNCE A NEW THEME PARK AT DISNEY WORLD WITHIN SIX MONTHS REFERRING TO THE EURO DISNEY TROUBLES HE ADDED WE'RE NOT GOING TO LET OTHER BUSINESS INTERFERE WITH OUR CORE BUSINESS 9311120124 931112 FINANCING BUSINESS ICH CORP ICH CORP LOUISVILLE KY SAID IT COMPLETED ITS EXCHANGE OFFER INVOLVING TWO ISSUES OF SENIOR SUBORDINATED DEBT THE INSURANCE HOLDING COMPANY SAID THAT UNDER THE OFFER BEGUN OCT 4 DEBTHOLDERS EXCHANGED 4 MILLION PRINCIPAL AMOUNT OF THE COMPANY'S 165 SENIOR SUBORDINATED DEBENTURES DUE 1994 AND 871 MILLION PRINCIPAL AMOUNT OF THE COMPANY'S 1125 SENIOR SUBORDINATED NOTES DUE 1996 FOR ICH'S NEW 1125 SENIOR SUBORDINATED NOTES DUE 2003 THE COMPANY SAID THE REMAINING PRINCIPAL BALANCES OF THE 165 DEBENTURES AND 1125 NOTES ARE NOW 459 MILLION AND 2661 MILLION RESPECTIVELY AS PREVIOUSLY REPORTED ICH SAID IT EXPECTS TO REDEEM AT 100 OF THE PRINCIPAL AMOUNT ITS REMAINING 165 DEBENTURES ON OR AFTER JAN 2 1994 9311120123 931112 FINANCING BUSINESS MARKBOROUGH PROPERTIES INC MARKBOROUGH PROPERTIES INC TORONTO SAID IT PLANS TO RAISE ABOUT 1625 MILLION CANADIAN DOLLARS US1236 MILLION FROM THE ISSUE OF 50 MILLION COMMON SHARES THE ISSUE UNDERWRITTEN BY TORONTOBASED INVESTMENT DEALERS RBC DOMINION SECURITIES INC AND MCLEAN MCCARTHY INC WAS PRICED AT C325 A SHARE IN TRADING ON THE TORONTO STOCK EXCHANGE YESTERDAY MARKBOROUGH CLOSED AT C340 A SHARE OFF 40 CANADIAN CENTS INSTITUTIONAL INVESTORS DISPLAYED SUCH STRONG INTEREST IN THE OFFERING THAT THE SIZE OF THE ISSUE WAS BOOSTED TO 40 MILLION SHARES FROM 35 MILLION AND UNDERWRITERS QUICKLY EXERCISED A PROVISION TO ACQUIRE FOR RESALE TO THE PUBLIC AN ADDITIONAL 10 MILLION SHARES PRIOR TO THE ISSUE MARKBOROUGH A REALESTATE CONCERN HAD 1674 MILLION COMMON SHARES OUTSTANDING THE ISSUE IS EXPECTED TO BE COMPLETED BY DEC 3 THE COMPANY SAID 9311120122 931112 CHRYSLER CORP EXECUTIVES EXERCISE OPTIONS SELL STOCK DETROIT CHRYSLER CORP EXECUTIVES EXERCISED STOCK OPTIONS AND SOLD A TOTAL OF 85 MILLION IN THE CAR MAKER'S STOCK LAST MONTH ACCORDING TO PARTIAL REPORTS OF INSIDER SELLING FILED WITH THE SECURITIES AND EXCHANGE COMMISSION CHRYSLER PRESIDENT ROBERT LUTZ AND VICE PRESIDENTS JOSEPH CAPPY AND E THOMAS PAPPERT TOGETHER EXERCISED OPTIONS ON 145421 SHARES WHICH THEY SOLD IN MIDOCTOBER WHEN THE STOCK WAS TRADING AROUND 53 OPTION PRICES WEREN'T AVAILABLE MAKING IT IMPOSSIBLE TO DETERMINE INDIVIDUAL NET GAINS NONE OF THE THREE REDUCED THEIR HOLDINGS OF CHRYSLER STOCK A SPOKESMAN SAID HOWEVER THOMAS DENOMME AN EXECUTIVE VICE PRESIDENT SOLD 15819 SHARES IN OCTOBER REDUCING HIS HOLDINGS TO 20505 SHARES THE SPOKESMAN SAID OTHER INSIDERS ALSO REDUCED THEIR HOLDINGS IN OCTOBER BUT SEC RECORDS WEREN'T YET AVAILABLE AND THE SPOKESMAN DECLINED TO PROVIDE DETAILS IN OCTOBER CHAIRMAN ROBERT J EATON FILED A NOTICE OF INTENT TO SELL 17200 SHARES ALSO FILING AT THAT TIME WAS THEODOR R CUNNINGHAM AN EXECUTIVE VICE PRESIDENT FOR THE SALE OF 11850 SHARES AND GARY C VALADE CHIEF FINANCIAL OFFICER FOR THE SALE OF 11375 SHARES 9311120120 931112 WHO'S NEWS PARKER HANNIFIN CORP PARKER HANNIFIN CORP CLEVELAND THREE EXECUTIVES WERE NAMED CORPORATE VICE PRESIDENTS AT THE MAKER OF MOTIONCONTROL AND OTHER PRODUCTS THE THREE ARE LAWRENCE M ZENO 51 YEARS OLD CURRENTLY VICE PRESIDENT OF OPERATIONS AT THE MOTION & CONTROL GROUP ONE OF THE COMPANY'S SIX MAIN OPERATING GROUPS RICHARD F FERREL 59 CURRENTLY PRESIDENT OF APPLIED TECHNOLOGIES OPERATIONS WITHIN THE MOTION & CONTROL GROUP AND PAUL L CARSON 57 VICE PRESIDENT OF THE COMPANY'S MANAGEMENT INFORMATION SERVICES OPERATIONS IN ADDITION MR ZENO WAS NAMED TO SUCCEED JAMES P MOCKLER AS PRESIDENT OF THE MOTION & CONTROL GROUP BEGINNING IN JANUARY MR MOCKLER 65 WHO HAS BEEN WITH PARKER HANNIFIN FOR 37 YEARS WILL RETIRE AT THE END OF THE YEAR MESSRS FERREL AND CARSON WILL CONTINUE IN THEIR CURRENT POSTS 9311120119 931112 PRODIGY ESTABLISHES MAIL LINK TO INTERNET SPECIAL TO THE WALL STREET JOURNAL WHITE PLAINS NY PRODIGY SERVICES CO A PARTNERSHIP OF SEARS ROEBUCK & CO AND INTERNATIONAL BUSINESS MACHINES CORP SAID IT ESTABLISHED AN ELECTRONIC MAIL LINK WITH THE INTERNET PRODIGY ALSO SAID IT BEGAN OFFERING A NEW FEATURE IN ITS QUOTE TRAK SERVICE DEALING WITH CALCULATION OF GAINS AND LOSSES ON PORTFOLIOS OF STOCK THE SERVICE ALSO LINKS MEMBERS DIRECTLY TO ANY BREAKING NEWS STORY ON A GIVEN SECURITY IN ADDITION THE COMPANY SAID IT WILL BEGIN SHIPPING NEW WINDOWSCOMPATIBLE SOFTWARE BY THE END OF THE MONTH THAT STARTS TO INTEGRATE MULTIMEDIA FEATURES LIKE PICTURES AND SOUNDS INTO THE SERVICE IT WILL ALSO INTEGRATE CERTAIN WINDOWS FUNCTIONS THE INTERNET IS A LOOSELY ORGANIZED GLOBESPANNING COMPUTER NETWORK 9311120118 931112 PACBELL PLANS 16 BILLION FOR INFORMATION HIGHWAY' LOS ANGELES PACIFIC TELESIS GROUP'S CALIFORNIA PHONE COMPANY SAID IT WILL SPEND 16 BILLION TO BUILD AN INFORMATION SUPERHIGHWAY IN THE STATE PACIFIC BELL SAID 90 OF THE PROJECT WOULD BE FINANCED BY INTERNAL CASH AND OTHER FUNDS AND NOT THROUGH HIGHER PHONE RATES THE REST WILL COME FROM A POSSIBLE NEW DEBT OFFERING SAID WILLIAM E DOWNING PACBELL'S CHIEF FINANCIAL OFFICER IT WOULD BE A RELATIVELY MINOR BURDEN GIVEN OUR CREDIT QUALITY HE ADDED PACBELL'S NEW INTERACTIVE MULTIMEDIA NETWORK WILL USE AT LEAST 5 BILLION IN EQUIPMENT AND TECHNICAL SERVICES FROM AMERICAN TELEPHONE & TELEGRAPH CO THE NETWORK IS EXPECTED TO DELIVER VOICE DATA AND INTERACTIVE VIDEO PROGRAMMING TO CALIFORNIA HOMES AND BUSINESSES WHILE THE CURRENT PLAN IS TO RUN THE NETWORK TO AT LEAST 55 MILLION HOMES BY THE END OF THE DECADE PACBELL SAID IT WILL ULTIMATELY EXTEND THE NETWORK TO ALL 10 MILLION HOMES AND ONE MILLION BUSINESSES IN CALIFORNIA AFTER THE TURN OF THE CENTURY IT SAID THAT ONCE UNDER WAY THE PROJECT WILL ENTAIL REWIRING SOME 15000 HOMES A WEEK FOR THE NEW SERVICES 9311120117 931112 MALAYSIA'S MUI TO SELL ASSETS TO QUEK FIRMS BY STEPHEN DUTHIE STAFF REPORTER OF THE WALL STREET JOURNAL KUALA LUMPUR MALAYSIA THE LONG AND BITTER BATTLE FOR MALAYAN UNITED INDUSTRIES BHD'S PRIZED ASSETS IS HEADING TO A CLOSE WITH THE ANNOUNCEMENT THAT COMPANIES CONTROLLED BY MALAYSIAN TYCOON QUEK LENG CHAN HAVE AGREED TO BUY MUI'S BANK AND FINANCE COMPANY FOR 11 BILLION MALAYSIAN DOLLARS US431 MILLION THE QUEKCONTROLLED HONG LEONG CREDIT BHD PROPOSES TO ACQUIRE MALAYAN UNITED INDUSTRIES' MUI BANK BHD FOR M695 MILLION US2727 MILLION IN ADDITION BEDFORD BHD THE HONG LEONG GROUP'S PROPERTY UNIT INTENDS TO ACQUIRE THE CONGLOMERATE'S MUI FINANCE BHD FOR M405 MILLION THE MARKET HAS ANTICIPATED THE TRANSACTIONS SINCE EARLY THIS YEAR WHEN MR QUEK EMERGED AS THE MOST LIKELY BUYER THE OPERATIONS BEING SOLD ACCOUNTED FOR ABOUT THREEQUARTERS OF MUI'S PRETAX PROFIT OF M914 MILLION LAST YEAR BEFORE MR QUEK ENTERED THE PICTURE MUI EXECUTIVE CHAIRMAN TAN SRI KHOO KAY PENG WAS EMBROILED IN A RANCOROUS TAKEOVER BATTLE WITH TAN SRI VINCENT TAN CHEE YIOUN AN AGGRESSIVE CORPORATE TRADER AND HEAD OF THE MALAYSIAN BERJAYA GROUP OF COMPANIES TAN SRI TAN AMASSSED A 308 STAKE IN MUI IN MID1991 BUT FAILED TO MOUNT HIS THREATENED BID FOR MUI AFTER IT BECAME CLEAR THAT TAN SRI KHOO CONTROLLED A MAJORITY OF THE CONGLOMERATE'S SHARES WITH THE ASSISTANCE OF MR QUEK AND OTHERS TAN SRI TAN EARLIER THIS YEAR SOLD HIS MUI STAKE FOR A TIDY PROFIT THAT CLEARED THE WAY FOR THE HONG LEONG CHIEF TO BEGIN A DIFFICULT SERIES OF NEGOTIATIONS WITH TAN SRI KHOO OVER THE SALE OF HIS FINANCIAL OPERATIONS THOSE NEGOTIATIONS ACCORDING TO EXECUTIVES FAMILIAR WITH THE DISCUSSIONS DIDN'T CONCLUDE UNTIL LATE WEDNESDAY THEY SAID TAN SRI KHOO UNDER PRESSURE FROM MALAYSIA'S FINANCIAL AUTHORITIES TO SELL THE BANK EXTRACTED FROM MR QUEK AN ADDITIONAL M100 MILLION ABOVE THE M1 BILLION PRICE INITIALLY AGREED UPON BY THE TWO MEN MR QUEK WHO HAS LONG SOUGHT A MALAYSIAN BANK FOR HIS RAPIDLY EXPANDING BUSINESS EMPIRE ALSO DROPPED HIS DEMANDS THAT TAN SRI KHOO PROVIDE FINANCIALPERFORMANCE GUARANTEES AND THAT THE MUI CHIEF GUARANTEE SHAREHOLDER APPROVAL FOR THE DEAL ACCORDING TO ANNOUNCEMENTS ISSUED TO THE KUALA LUMPUR STOCK EXCHANGE MUI ALREADY HAS RECEIVED A DOWNPAYMENT OF 30 OF THE TOTAL PURCHASE PRICE THE BALANCE FOR BOTH THE BANK AND THE FINANCE COMPANY IS DUE JAN 3 THE ANNOUNCEMENTS ALSO STATED THAT MALAYSIAN FINANCE MINISTER DATUK ANWAR IBRAHIM HAS APPROVED THE TRANSACTIONS THAT MEANS HE HAS EXEMPTED HONG LEONG FROM HAVING TO COMPLY WITH THE COUNTRY'S RESTRICTIONS ON THE AMOUNT OF SHARES A SINGLE COMPANY CAN HOLD IN A FINANCIAL INSTITUTION THOSE RESTRICTIONS INCLUDE A 20 LIMIT ON CORPORATE STAKES IN A BANK AND A 5 LIMIT ON INDIVIDUALS UNLESS OTHERWISE APPROVED BY THE MINISTER 9311120116 931112 LETTERS TO THE EDITOR RESTORE THE ORIGINAL UN GAME PLAN IN HIS OCT 27 EDITORIAL PAGE ESSAY BYE BYE WOODROW ARTHUR SCHLESINGER JR ALL BUT RESIGNS HIMSELF TO THE RELAPSE OF THE US INTO ISOLATIONISM HE ARGUES THAT THE INSISTENCE OF CONGRESS AND THE AMERICAN PUBLIC THAT AMERICAN TROOPS FIGHT AND DIE ONLY FOR AMERICAN INTERESTS WILL KILL OR INDEFINITELY DEFER WOODROW WILSON'S VISION OF A PEACE SYSTEM BASED ON COLLECTIVE SECURITY WHAT MR SCHLESINGER SEES AS A REVERSION TO ISOLATIONISM MAY BE QUITE THE OPPOSITE WHAT AMERICANS ARE SENSIBLY RESISTING IS THE PROPOSITION THAT THEIR ROLE IN THE WORLD IS TO SUPPLY FORCES TO AN INTERNATIONAL CIVIL SERVANT WHO AFTER DEFINING THREATS TO INTERNATIONAL PEACE DEPLOYS THEM IF HE BELIEVES THIS IS THE SORT OF ARRANGEMENT WOODROW WILSON OR FRANKLIN ROOSEVELT HAD IN MIND HE IS MISTAKEN CRISIS IN SOMALIA ETHNIC BLOODLETTING IN THE BALKANS AND UNREST IN HAITI HAVE BROUGHT TO A HEAD THE ISSUE OF A POSTCOLD WAR NEW WORLD ORDER AND THE ROLE OF THE US IN IT MR SCHLESINGER VIEWS WITH SADNESS THE RELUCTANCE OF CONGRESS TO DISPATCH AMERICAN FORCES AS THE HISTORIAN PUTS IT IN SUPPORT OF INTERNATIONAL ORDER DESPAIRING AT WHAT HE SEES AS THE INEXORABLE SLIDE BACK TO THE 150YEAR AMERICAN NORM OF ISOLATIONISM HE SUGGESTS THE ANSWER MAY BE A UN VOLUNTEER ARMY A FOREIGN LEGION MADE UP OF PEOPLE MOVED BY IDEALISM OR A DESIRE FOR ADVENTURE INSTEAD OF FANTASIZING ABOUT A MILITIA OF INTERNATIONAL MINUTEMEN WE MIGHT REFLECT ON WHAT IT WAS WE AMERICANS HAD IN MIND WHEN WE TOOK THE LEAD IN CREATING THE UN INSTEAD OF COMPLAINING THAT AMERICAN PARENTS WILL NOT GLADLY SACRIFICE THEIR CHILDREN EVEN THOUGH THEY'RE VOLUNTEERS TO VIOLENT DEATHS IN DISPUTES NOT REMOTELY CONNECTED TO THE DEFENSE OR WELLBEING OF AMERICA WE MIGHT WITHIN THE UN TAKE BACK THE LEAD IN IDENTIFYING AND COUNTERING GENUINE THREATS TO INTERNATIONAL PEACE THIS WAS AFTER ALL THE ROLE ENVISIONED NEARLY 50 YEARS AGO BY THE AMERICAN FOUNDERS OF THE ORGANIZATION WE MIGHT ASK OURSELVES FIRST WHETHER OR NOT WE ARE WILLING IN THE WAKE OF A SUCCESSFUL BUT EXHAUSTING 50YEAR STRUGGLE AGAINST FASCISM AND COMMUNISM TO ASSUME THE AMBITIOUS LEADERSHIP ROLE IN THE WORLD DEFINED FOR US BY FRANKLIN D ROOSEVELT ARTHUR VANDENBERG AND OTHERS ABSENT STRONG PRESIDENTIAL LEADERSHIP WE MAY FIND OURSELVES CONTENT TO CAST ADRIFT AN ORGANIZATION ORIGINALLY DESIGNED FOR GREAT POWER LEADERSHIP WE MAY IN THE END AS MR SCHLESINGER FEARS BE QUITE WILLING TO STAND BY AS BLUEHELMETED PEACEKEEPERS ENTANGLE THEMSELVES IN PETTY DISPUTES WITH SUBCLAN CHIEFTAINS AND GANGSTERS IF HOWEVER WE SAY YES TO THE VISION OF ROOSEVELT AND VANDENBERG MR SCHLESINGER MAY NOT BE ALL THAT HAPPY IT WAS NOT AFTER ALL THE PARLIAMENT OF MAN THE FEDERATION OF THE WORLD THAT THEY HAD IN MIND THE FACT IS THAT DURING WORLD WAR II DEMOCRATS AND REPUBLICANS UNITED TO CLARIFY THE FATAL AMBIGUITY INHERENT IN ARTICLE X OF WOODROW'S WILSON'S LEAGUE OF NATIONS THEY DID SO BY AGREEING THAT THE NEW ORGANIZATION THE UN WOULD BE DOMINATED BY A SECURITY COUNCIL RUN BY THE GREAT POWERS PRINCIPALLY THE US AND THE SOVIET UNION IN THE MINDS OF THE FOUNDERS THERE WAS NO OPERATIONAL LINKAGE BETWEEN THE PEACEKEEPING FUNCTIONS OF THE SECURITY COUNCIL AND THE PERSON OF THE SECRETARYGENERAL THE ORGANIZATION'S CHIEF ADMINISTRATIVE OFFICER THE COLD WAR DIVERTED US FROM OUR UN GAME PLAN THE ORGANIZATION HAD BEEN BUILT ON THREE PREMISES THAT THE GREAT POWERS WOULD COOPERATE IN PREEMPTING A THIRD WORLD WAR THAT THEIR COMBINED POWER WOULD DISCOURAGE ANY OTHER PARTY FROM THREATENING WORLD PEACE AND THAT THE POWERS WOULD NOT THEMSELVES PRESENT THREATS TO WORLD PEACE FOR MORE THAN 45 YEARS STALIN AND HIS SUCCESSORS FRUSTRATED THIS DESIGN DURING THE COLD WAR YEARS THE SOVIET VETO TIED THE SECURITY COUNCIL IN KNOTS ACTION GRAVITATED TO THE GENERAL ASSEMBLY AND TO THE SECRETARYGENERAL LET DAG DO IT WAS THE WATCHWORD OF THE WESTERN POWERS IN THE 1950S AND THE EARLY 1960S WHEN SECRETARYGENERAL DAG HAMMARSKJOLD WORKED TIRELESSLY TO DEFUSE SUPERPOWER TENSIONS AND TO MIDWIFE THE EMERGENCE OF DOZENS OF NEW INDEPENDENT STATES IN THE THIRD WORLD THE REAL INDICATION OF AMERICA'S WILLINGNESS TO PLAY ITS PROPER ROLE INTERNATIONALLY WILL COME IF AND WHEN WE IN CONJUNCTION WITH THE OTHER PERMANENT MEMBERS OF THE SECURITY COUNCIL REASSERT OUR LEADERSHIP AND INSIST UPON THE PRIMACY OF THE SECURITY COUNCIL IDENTIFYING THREATS TO INTERNATIONAL PEACE AND ORGANIZING THE INTERNATIONAL RESPONSE IS A GREAT POWER RESPONSIBILITY THE SECRETARYGENERAL AS CHIEF ADMINISTRATIVE OFFICER ALREADY HAS A THANKLESS AND ENDLESS TASK TO REORGANIZE AND RATIONALIZE A BLOATED UN BUREAUCRACY WHETHER OR NOT AMERICAN FORCES OR ANYONE'S TROOPS OUGHT TO BE DEPLOYED TO THE BALKANS SOMALIA OR ANYWHERE ELSE IS FOR THE SECURITY COUNCIL LED BY THE US TO DECIDE ABSENT A CLEAR THREAT TO INTERNATIONAL PEACE THERE SHOULD BE A DISINCLINATION TO DEPLOY MULTINATIONAL MILITARY PEACEKEEPING FORCES UNLESS THE PARTIES TO A LOCAL DISPUTE OR CIVIL WAR THEMSELVES REQUEST THE PRESENCE OF ARMED OBSERVERS TO OVERSEE AND CONFIRM A PEACE AGREEMENT THEY HAVE REACHED EITHER ON THEIR OWN OR THROUGH EXTERNAL GOOD OFFICES IF THE THREAT TO INTERNATIONAL PEACE IS SUBSTANTIAL AS IT WAS IN KOREA IN 1950 AND KUWAIT IN 1991 AMERICAN ARMED FORCES CAN AND SHOULD TAKE THE COMBAT LEAD IN LESS OMINOUS SITUATIONS IT IS OFTEN POLITICALLY COUNTERPRODUCTIVE TO INJECT GROUND FORCES REPRESENTING A SUPERPOWER BEIRUT 1983 AND MOGADISHU 1993 ARE INSTRUCTIVE IN THIS REGARD IT IS DIFFICULT NOT TO BE IMPATIENT WITH MR SCHLESINGER'S PLEA FOR A HIGHLY ORGANIZED GLOBAL COLLECTIVE SECURITY SYSTEM A EVEN A UNITED NATIONS ARMY HE IS OF COURSE QUITE RIGHT TO SAY THAT THE WORLD OF LAW WILL NOT BE ATTAINED BY EXHORTATION LAW REQUIRES ENFORCEMENT THAT'S JUST THE TROUBLE WHOSE LAW AND WHOSE ENFORCEMENT I DOUBT WHETHER MANY OF YOUR READERS WOULD BE HAPPY IN A WORLD FEDERATION WHOSE PRESIDENT WAS DENG XIAOPING OR ASSAD OR EVEN BORIS YELTSIN AND WHOSE SUPREME COURT BEHAVED LIKE THE COURTS OF SAUDI ARABIA OR BULGARIA OR A HALFDOZEN OTHER COUNTRIES ONE MIGHT MENTION HOW AND BY WHAT MECHANISM WOULD THE WORLD EVEN CHOOSE BETWEEN THE RELATIVELY KINDRED LEGAL AND JUDICIAL SYSTEMS OF SAY THE US AND FRANCE THERE IS AS ALWAYS SAFETY IN NUMBERS AND A VARIETY OF POLITICAL SYSTEMS AND EVEN STATES FURLING BATTLE FLAGS IS PACE TENNYSON JUST FINE BUT CREATING A FEDERATION OF THE WORLD COULD BE MERELY THE SIGNAL FOR THE UNFURLING OF A WHOLE LOT OF NEW FLAGS OF REVOLT 9311120115 931112 SCHERING REPORTS 35 PROFIT DROP FOR NINE MONTHS BY ANDREW JONCUS SPECIAL TO THE WALL STREET JOURNAL BERLIN SCHERING AG THE GERMAN AGROCHEMICALS AND PHARMACEUTICALS MAKER POSTED A 35 DROP IN NET INCOME IN THE FIRST NINE MONTHS OF 1993 TO 194 MILLION MARKS 1148 MILLION FROM 201 MILLION MARKS A YEAR EARLIER SALES ROSE 07 TO 406 BILLION MARKS WITH A 45 RISE IN PHARMACEUTICAL SALES TO 304 BILLION MARKS OFFSETTING A 10 PLUNGE IN AGROCHEMICALS SALES TO 961 MILLION MARKS IN THE WAKE OF THE EARNINGS REPORT WHICH WAS SLIGHTLY BELOW EXPECTATIONS AS WELL AS A 50 RALLY IN THE SHARE PRICE THIS YEAR ANALYSTS SAID THEY ARE LOOKING MORE CAUTIOUSLY AT SCHERING THE RESULTS WERE A BIT DISAPPOINTING SAID HORST GREVEN ANALYST AT MERCK FINCK & CO IN DUESSELDORF THE 35 PROFIT DECLINE COMPARED WITH EXPECTATIONS THAT NINEMONTH PROFIT WOULD SHOW A GAIN OF AROUND 2 FOLLOWING A FIRSTHALF PROFIT RISE OF 34 SCHERING'S SHARE PRICE RESPONDED ACCORDINGLY FALLING 15 MARKS TO 1080 MARKS YESTERDAY WHILE THE DAX STOCK INDEX OF 30 BLUECHIPS WAS FLAT BUT SOME ANALYSTS CAUTIONED AGAINST PLACING TOO MUCH WEIGHT ON THE NINEMONTH EARNINGS FIGURES THEY MEAN NOTHING SAID STUART ADKINS CHEMICALS ANALYST WITH LEHMAN BROTHERS IN LONDON BECAUSE SCHERING'S PROFIT IS MADE MOSTLY IN THE FIRST HALF OF THE YEAR HE SAID FLUCTUATIONS IN THE SECOND HALF ARE LESS IMPORTANT AS RECENTLY AS FEBRUARY SCHERING STOCK WAS AROUND 700 MARKS A SHARE THE STOCK'S SHARP RISE SINCE THEN HAS BEEN LARGELY A RESULT OF EXPECTATIONS FOR THE BETASERON TREATMENT FOR MULTIPLE SCLEROSIS WHICH WAS DEVELOPED BY THE COMPANY'S TRITON CORP US SUBSIDIARY CHIRON CORP OF THE US WILL RECEIVE 30 OF BETASERON'S SALES BECAUSE OF ITS ROLE IN DEVELOPING AND PRODUCING THE DRUG SPEAKING AT A NEWS CONFERENCE YESTERDAY CHIEF FINANCIAL OFFICER KLAUS POHLE SAID BETASERON SALES COULD TOP 300 MILLION MARKS NEXT YEAR BUT HE CONCEDED THAT THE DRUG WAS NOT EXPECTED TO MAKE A SIGNIFICANT CONTRIBUTION TO SCHERING'S 1994 PROFIT BECAUSE US DISTRIBUTION WILL NOT BE FULLY ESTABLISHED AND A ONETIME PAYMENT OF 50 MILLION RESULTING FROM THE PURCHASE OF TRITON MUST BE MADE 9311120114 931112 TIDE WEST OIL CO ACQUISITION TULSA OKLA TIDE WEST OIL CO SAID IT SIGNED AN AGREEMENT TO PURCHASE CERTAIN OIL AND NATURALGAS PROPERTIES FOR MORE THAN 20 MILLION ALTHOUGH IT WOULDN'T BE SPECIFIC THE OIL AND GAS COMPANY DIDN'T NAME THE SELLER BUT IT SAID THE PROPERTIES ARE IN THE US 9311120113 931112 RAYTHEON FLUOR UNIT EXPECTS 13 BILLION IN REVENUE ON REFINERY LEXINGTON MASS A JOINT VENTURE BETWEEN RAYTHEON CO AND FLUOR DANIEL CO SAID IT EXPECTS ABOUT 13 BILLION IN REVENUE THROUGH 1995 FROM A REFINERY PROJECT IN THAILAND IN MARCH THE COMPANIES SAID THE VENTURE HAD SIGNED A LETTER OF INTENT WITH RAYONG REFINERY TO PROVIDE ENGINEERING DESIGN AND CONSTRUCTION OF THE REFINERY YESTERDAY THE COMPANIES SAID THE VENTURE HAD SIGNED A LETTER OF AGREEMENT FIRMING UP THE PROJECT THE ENTIRE PROJECT IS EXPECTED TO COST MORE THAN 2 BILLION RAYTHEON AND FLUOR ARE EQUAL PARTNERS IN THE JOINT VENTURE CONSTRUCTION OF THE REFINERY AND SURROUNDING FACILITIES IN THE MAP TA PHUT INDUSTRIAL COMPLEX ABOUT 100 MILES SOUTH OF BANGKOK IS SCHEDULED FOR COMPLETION IN LATE 1995 UPON COMPLETION THE REFINERY WILL PROCESS 145000 BARRELS OF CRUDE OIL A DAY RAYTHEON WHICH HAS ABOUT 9 BILLION IN REVENUE SAID IT WOULD RECORD ITS SHARE OF REVENUE FROM THE PROJECT OVER THE COURSE OF CONSTRUCTION FLUOR DANIEL A CONSTRUCTION AND ENGINEERING UNIT OF FLUOR CORP WILL RECORD REVENUE FROM THE PROJECT IN THE SAME MANNER FLUOR DANIEL HAD 59 BILLION IN REVENUE AND 1907 MILLION IN OPERATING PROFIT IN 1992 RAYONG REFINERY IS A VENTURE BETWEEN THE PETROLEUM AUTHORITY OF THAILAND AND A UNIT OF ROYAL DUTCH/SHELL GROUP 9311120112 931112 CIBAGEIGY TO FORM ALLIANCE WITH TAIWAN SPECIAL TO THE WALL STREET JOURNAL TAIPEI TAIWAN CIBAGEIGY LTD SIGNED A LETTER OF INTENT TO FORM A STRATEGIC ALLIANCE WITH TAIWAN'S MINISTRY OF ECONOMIC AFFAIRS IN THE SIGNING CEREMONY HERE ANDREAS ZUERCHER SENIOR VICE PRESIDENT OF THE SWISS PHARMACEUTICAL COMPANY'S ASIA PACIFIC REGION OPERATIONS SAID THE AGREEMENT ALLOWS BOTH SIDES TO SHARE KNOWHOW AND CONDUCT JOINT RESEARCH FOR FUTURE VENTURES SHOULD TAIWAN BE SUCCESSFUL IN ITS AEROSPACE INDUSTRY PROJECT EITHER WITH BRITISH AEROSPACE OR ANY OTHER COMPANIES CIBAGEIGY WOULD LIKE TO SEE ITSELF AS A COMPOSITE SUPPLIER OF TAIWAN'S AEROSPACE INDUSTRY SAID PETER SCHMIER PRESIDENT OF CIBAGEIGY TAIWAN LTD TAIWAN EARLIER THIS YEAR LAUNCHED A PROJECT TO INVITE MAJOR FOREIGN COMPANIES TO FORM STRATEGIC ALLIANCES TO HELP MAKE TAIWAN AN OPERATION AND PROFIT CENTER IN THE ASIAPACIFIC REGION CIBAGEIGY IS THE 11TH MULTINATIONAL COMPANY TO FORM A STRATEGIC ALLIANCE WITH THE MINISTRY 9311120111 931112 GROUP SEEKS TALKS WITH MEDICAL CARE OVER SPURNED OFFER BY ROBERT TOMSHO STAFF REPORTER OF THE WALL STREET JOURNAL ANGERED BY MEDICAL CARE AMERICA INC'S REJECTION OF A BUYOUT BID BY SURGICAL CARE AFFILIATES INC A DISSIDENT SHAREHOLDERS GROUP LED BY THE BASS FAMILY HAS ASKED TO MEET NEXT WEEK WITH DONALD STEEN MEDICAL CARE'S PRESIDENT AND CHIEF EXECUTIVE A MEDICAL CARE SPOKESMAN SAID THAT MR STEEN WOULD MEET WITH THE GROUP IN DUE COURSE THE MOVES FOLLOW A MEETING IN NEW YORK OF LARGE SHAREHOLDERS PURPORTING TO REPRESENT 28 OF MEDICAL CARE'S 365 MILLION COMMON SHARES OUTSTANDING AT THIS POINT THE GROUP IS NOT CONSIDERING LEGAL ACTION OR A PROXY BATTLE ACCORDING TO A PERSON FAMILIAR WITH THE MEETING WHAT THEY WANT IS FOR STEEN TO TALK TO SURGICAL CARE CHAIRMAN AND CHIEF EXECUTIVE JOEL GORDON HE SAID ON OCT 29 THE MEDICAL CARE BOARD UNANIMOUSLY REJECTED SURGICAL CARE'S OFFER TO EXCHANGE 135 SHARES OF ITS COMMON STOCK FOR EACH MEDICAL CARE SHARE IN A SWAP VALUED AT NEARLY 1 BILLION DALLASBASED MEDICAL CARE OPERATES OUTPATIENT SURGERY CENTERS AND PROVIDES HOME INFUSION THERAPIES SURGICAL CARE NASHVILLE TENN OPERATES OUTPATIENT SURGERY CENTERS SURGICAL CARE EXECUTIVES WERE NOT AT YESTERDAY'S SESSION WHICH WAS ORGANIZED BY REPRESENTATIVES OF FORT WORTH TEXAS INVESTORS PERRY BASS AND HIS SONS SID AND LEE THROUGH VARIOUS INVESTMENT ENTITIES THEY ARE SAID TO HOLD ROUGHLY A 3 STAKE IN MEDICAL CARE ALTHOUGH THROUGH A SPOKESWOMAN THEY DECLINED TO COMMENT ALSO PRESENT WERE REPRESENTATIVES OF HEINE SECURITIES CORP SHORT HILLS NJ WHICH HOLDS A 63 STAKE IN MEDICAL CARE AND HAS URGED THE COMPANY TO CONSIDER SURGICAL CARE'S BID THE IDENTITY OF OTHER PARTICIPANTS COULD NOT BE CONFIRMED ALTHOUGH THE MEETING WAS NOT ATTENDED BY FMR CORP THE BOSTONBASED PARENT COMPANY OF THE FIDELITY MUTUAL FUNDS WHICH IS MEDICAL CARE'S LARGEST SINGLE SHAREHOLDER WITH A 75 INTEREST BASS REPRESENTATIVES HAVE BEEN PRESSURING MEDICAL CARE TO MEET WITH SURGICAL CARE SINCE OCT 27 WHEN THOMAS TAYLOR A BASS ADVISER WROTE A LETTER TO MR STEEN CRITICIZING THE COMPANY FOR NOT TALKING WITH SURGICAL CARE WE HAVE BEEN PATIENT INVESTORS IN MEDICAL CARE THROUGH A DIFFICULT PERIOD OF DISMAL PERFORMANCE WROTE MR TAYLOR WHO DECLINED TO BE INTERVIEWED I WILL NOT STAND IDLY BY IF YOU AND OTHER MEMBERS OF THE BOARD CHOOSE TO IGNORE THE SURGICAL CARE AFFILIATES OFFER MEDICAL CARE HAS HAD SEVERAL QUARTERS OF DISAPPOINTING RESULTS AMID TROUBLES IN ITS HOME INFUSION BUSINESS WHICH INVOLVES PROVIDING INTRAVENOUS DRUG THERAPY AND NUTRITION TO HOMEBOUND PATIENTS AFTER 147 MILLION IN RESTRUCTURING CHARGES MEDICAL CARE HAD A THIRDQUARTER LOSS OF 137 MILLION OR 375 A SHARE COMPARED WITH A YEAREARLIER LOSS OF 7 MILLION OR 19 CENTS REVENUE WAS FLAT AT 1548 MILLION IN LATE NEW YORK STOCK EXCHANGE TRADING MEDICAL CARE WAS QUOTED AT 21 DOWN 625 CENTS SURGICAL CARE WAS QUOTED AT 18875 UP 125 CENTS 9311120109 931112 INTERNATIONAL EUROPE PONDERS THE SHORTER WORKWEEK IDEA TARGETS JOBLESS RATE BUT SOME SAY IT DOESN'T ADDRESS ROOT OF TROUBLE BY TERENCE ROTH STAFF REPORTER OF THE WALL STREET JOURNAL FRANKFURT IS A SHORTER WORKWEEK THE ANSWER FOR WESTERN EUROPE'S 20 MILLION UNEMPLOYED AFTER A YEAR OF GROWING SOCIAL UNREST ACROSS A CONTINENT WHERE EVERY TENTH WORKER IS OUT OF A JOB THE IDEA IS GAINING SUPPORT AMONG SOME POLICY MAKERS AND COMPANY CHIEFS WHO WANT TO KEEP PEOPLE OFF THE JOBLESS ROLLS YET SKEPTICS SAY THE FOURDAY WORKWEEK AND OTHER JOBSHARING SCHEMES DON'T REACH THE ROOTS OF EUROPE'S UNEMPLOYMENT PROBLEM HIGH LABOR AND PRODUCTION COSTS INDEED WHILE UNIONS SAY THEY ARE WILLING TO DISCUSS THE IDEA THEY ALMOST UNIVERSALLY SAY IT IS UNACCEPTABLE IF IT MEANS A CORRESPONDING CUT IN PAY THE LEAD IN THE DEBATE HAS BEEN TAKEN IN GERMANY AND FRANCE BUT THE CONCEPT IS ALSO CATCHING ON IN SPAIN WHERE IT HAS GAINED SUPPORT FROM LEFTIST POLITICAL PARTIES AND IN BELGIUM WHERE A HANDFUL OF COMPANIES ALREADY ARE EXPERIMENTING WITH SHORTER WEEKS THE EUROPEAN COMMUNITY COMMISSION IS EXPECTED TO INCLUDE SHORTER WORKWEEKS AMONG ITS RECOMMENDATIONS FOR INCREASING EMPLOYMENT IN A WHITE PAPER TO BE DISCUSSED AT NEXT MONTH'S EC SUMMIT IN BRUSSELS THE BIGGEST TEST OF THE IDEA IS AT VOLKSWAGEN AG WHERE NEGOTIATIONS ON SUCH A PROPOSAL BEGAN YESTERDAY WITH THE IG METALL UNION THE GERMAN AUTO GIANT RECENTLY ISSUED AN ULTIMATUM TO ITS 103000 DOMESTIC WORKERS ACCEPT A FOURDAY WORKWEEK WITH A 20 DROP IN PAY OR NEARLY EVERY THIRD JOB WILL BE CUT THE VW PLAN HAS CAPTURED THE IMAGINATION OF A COUNTRY WITH A JOBLESS TOTAL EXPECTED TO EXCEED FOUR MILLION PEOPLE NEXT YEAR INDUSTRY LEADERS WELCOME THE DEBATE BECAUSE IT LOOKS FOR THE FIRST TIME AT BREAKING UP GERMANY'S RIGID WORK SCHEDULES SET UP IN COLLECTIVE BARGAINING AGREEMENTS WITH UNIONS YET SOME ARGUE THAT ADDING FLEXIBILITY ISN'T GOOD ENOUGH THE CHAIRMAN OF DEUTSCHE AEROSPACE AG JUERGEN SCHREMPP SAID WEDNESDAY THAT THE FOURDAY WEEK ISN'T AN OPTION ALTERNATIVE WORKING TIMES DON'T SOLVE STRUCTURAL PROBLEMS AND DON'T REDUCE OVERCAPACITY MR SCHREMPP SAID GERMANY'S CHAMBER OF INDUSTRY AND COMMERCE SAID THAT THE FOURDAY WEEK GOES OFF IN THE WRONG DIRECTION FOR GERMAN INDUSTRY TO BECOME MORE COST EFFECTIVE IN COMPETITION AROUND THE WORLD GERMANS MUST WORK MORE AND DEMAND LESS THE ONLY SOLUTION IS TO MAKE JOBS AFFORDABLE AND THAT IS BY REDUCING COSTS JUERGEN NEUMAN AN ECONOMIST WITH GERMANY'S FEDERATION OF EMPLOYERS ASSOCIATIONS FOURDAY WEEKS CAN DELAY THE WORST BUT DON'T SOLVE THE PROBLEM WHICH IS TO BE ABLE TO OFFER PRODUCTS AT COMPETITIVE PRICES MOTIVES FOR A SHORTENED WEEK DIFFER WHERE FRANCE SEEKS TO REDUCE HOURS TO MAKE ROOM FOR NEW HIRES VW WANTS A FOURDAY WEEK ONLY TO RETAIN CURRENT STAFF BUT THE CENTRAL IDEA IS TO STEM UNEMPLOYMENT BY ALLOWING MORE PEOPLE TO WORK LESS RATHER THAN HAVING THE SAME PEOPLE PRODUCE MORE A STEP WHICH MANY SAY IS NECESSARY TO RESTORE EUROPEAN COMPETITIVENESS EUROPE'S COMPETITORS ARE A LITTLE MYSTIFIED SHARING JOBS SEEMS TO BE MORE IMPORTANT THAN INCREASING COMPETITIVENESS IT SEEMS TO BE THE EUROPEAN WAY SAYS SHIGEKI SAKAKI SENIOR ECONOMIST AT THE NOMURA RESEARCH INSTITUTE IN LONDON OPPOSITION ALSO STEMS FROM THE UNDERLYING QUESTION WHO FOOTS THE BILL THE CHOICES BOIL DOWN TO A SHORT LIST WORKERS EMPLOYERS AND GOVERNMENT FOR WORKERS A CUT IN HOURS MEANS PAINFUL REDUCTIONS IN HOUSEHOLD INCOMES ALBEIT LESS PAINFUL THAN AN OUTRIGHT JOB LOSS LOWER PAY ALSO MEANS LESS CONSUMER DEMAND AND PROBABLY MORE PERSONAL DEBT IT ALSO ISN'T CLEAR WHETHER THE MEASURE WOULD CREATE NEW JOBS A COMPANY COPING WITH WEAK DEMAND WOULD BE TEMPTED TO SIT ON ITS REDUCED LABOR BILL TO RESTORE PROFIT MARGINS RATHER THAN HIRE NEW WORKERS MAKING THE SWITCH A JOB REDUCTION INSTEAD OF A JOB SHARING PROGRAM FOR EMPLOYERS PAYING WORKERS THE SAME WEEKLY WAGES FOR LESS WORK AS UNIONS DEMAND WOULD INCREASE A COMPANY'S LABOR COSTS WIDENING MANUFACTURERS' COMPETITIVE DISADVANTAGE AGAINST LOWCOST COUNTRIES THE SELFDEFEATING RESULT WOULD UNDERMINE ANY ADVANTAGE OF MATCHING WORKING HOURS TO DEMAND AND COULD TRIGGER A NEW WAVE OF LAYOFFS SOME PROPOSALS SEE GOVERNMENTS COVERING THE PAY GAP BUT DESPITE RECENT AUSTERITY EFFORTS BUDGET DEFICITS OF EC GOVERNMENTS ALREADY ARE ABOVE THE LIMIT 3 OF GROSS DOMESTIC PRODUCT SET BY THE MAASTRICHT TREATY ON EUROPEAN UNITY LEAVING LITTLE ROOM FOR MASSIVE WAGE SUBSIDIES AND BECAUSE IT'S QUESTIONABLE WHETHER SHORTER WORKING TIMES WILL SIGNIFICANTLY REDUCE UNEMPLOYMENT IT ISN'T CLEAR WHETHER GOVERNMENTS COULD RECOUP THE COST OF SUCH SUBSIDIES THROUGH REDUCED SPENDING FOR STATE JOBLESS BENEFITS BONN HAS REJECTED UNION PROPOSALS THAT THE GOVERNMENT MAKE UP THE PAY GAP IF A COMPANY GOES ON TO A SHORTER SCHEDULE THE FEDERAL LABOR OFFICE POINTS OUT THAT WESTERN GERMAN WAGES ALONE TOTAL MORE THAN ONE TRILLION MARKS 5919 BILLION A YEAR MAKING UP THE PAY DIFFERENCE FOR A FOURDAY WEEK COULD COST THE GOVERNMENT 200 BILLION MARKS IN WAGE SUBSIDIES THAT COULD ONLY COME FROM NEW TAXES WHOEVER PAYS MANY ECONOMISTS DOUBT THE VIABILITY OF WHAT SOME CALL ARTIFICIAL JOB CREATION THE OUTCOME OF ANY JOBS PLAN SHOULD BE TO INCREASE MACHINERY OPERATING TIMES WITHOUT RAISING UNIT LABOR COSTS ADDING WORKERS WITHOUT IMPROVING PRODUCTIVITY RISKS PUSHING UP INFLATION PROF RICHARD LAYARD AT THE LONDON SCHOOL OF ECONOMICS SAYS ECONOMIES HAVE IN THE PAST REDUCED WORKING TIMES IN FAVOR OF MORE LEISURE AS PRODUCTIVITY INCREASED IT IS DIFFERENT TO ARTIFICIALLY RESTRICT HOURS TO CREATE EMPLOYMENT HE SAYS UNLESS PRODUCTIVITY IS IMPROVED THE RESULT COULD BE MORE PRICE INFLATION AND IN THE END NO CHANGE IN UNEMPLOYMENT THE LABOR EXPERT CONCEDES THAT SHORTWEEK PLANS CAN BE POLITICALLY TEMPTING THEY APPEAL TO WORKERS' SENSE OF FAIRNESS SHARING THE BURDEN IS A NATURAL THING FOR PEOPLE TO RALLY BEHIND UNTIL YOU THINK IT THROUGH HE SAYS FRANCE WITH A NEARLY 12 JOBLESS RATE AND GROWING LABOR UNREST WOULD SEEK TO SPREAD THE COSTS AMONG WORKERS EMPLOYERS AND GOVERNMENT LEGISLATION THAT NARROWLY PASSED THE FRENCH SENATE ON MONDAY WOULD REDUCE THE WORKING WEEK TO 32 HOURS FROM 39 HOURS ON AN EXPERIMENTAL BASIS THE PROPOSAL IS NOW TO GO BEFORE THE NATIONAL ASSEMBLY WHICH REJECTED A SIMILAR PLAN LAST MONTH IN THE MEANTIME HOWEVER FRANCE'S CONSERVATIVE GOVERNMENT RELUCTANTLY SHIFTED FROM ITS INITIAL OPPOSITION TO THE SCHEME WHICH SETS THE CONDITION THAT WORKERS WOULD HAVE TO GIVE UP SOME PAY COMPANIES ARE PROMISED A REDUCTION IN THEIR WELFARE CONTRIBUTIONS IF THEY CUT WORKING HOURS IF IT DOES PASS IT IS UNLIKELY TO BE UNIVERSALLY APPLIED IN FRANCE COMPANIES SEE RISING COSTS AND UNIONS HAVE THREATENED TO FIGHT ANY REDUCTION IN PAY FOR WORKERS GOING ON A SHORTER SCHEDULE FRANCOISXAVIER CHAUCHAT AN ECONOMIST WITH BANQUE INDOSUEZ IN PARIS CALLED THE SENATE VOTE A NONEVENT ASSERTING THAT ITS PASSAGE INTO LAW WOULD BE DIFFICULT AND UNLIKELY TO CREATE MANY NEW JOBS THE MAIN PROBLEM IS HOW MUCH WILL PAY BE REDUCED HE SAID WE ARE TALKING A LOT IN EUROPE ABOUT A SHORTER WORKING WEEK BUT WE SEE LITTLE CHANCE OF THIS WORKING AT MORE THAN A FEW COMPANIES IF THAT 9311120108 931112 CONNER PERIPHERALS FORMS UNIT SAN JOSE CALIF CONNER PERIPHERALS INC A MAKER OF COMPUTER DATASTORAGE PRODUCTS SAID IT FORMED A SUBSIDIARY ARCADA SOFTWARE INC TO DEVELOP AND MARKET DATASTORAGE MANAGEMENT SOFTWARE FOR NETWORKS AND WORKSTATIONS 9311120107 931112 WHO'S NEWS MACMILLAN'S SHAFFER TO JOIN MCGRAWHILL IN POST AT NEW GROUP NEW YORK MACMILLAN INC'S PRESIDENT AND CHIEF EXECUTIVE DAVID SHAFFER WILL BE LEAVING THE BOOKPUBLISHING HOUSE TO JOIN MCGRAWHILL INC MR SHAFFER'S DEPARTURE SET FOR JAN 3 1994 COMES ON THE HEELS OF PARAMOUNT COMMUNICATIONS INC'S 5528 MILLION PURCHASE OF MACMILLAN MACMILLAN WAS ONE OF THE LAST REMAINING ASSETS OF THE LATE ROBERT MAXWELL'S PUBLISHING EMPIRE AT MCGRAWHILL A PUBLISHING AND INFORMATION SERVICES COMPANY WITH 1992 REVENUE OF 205 BILLION MR SHAFFER WILL SERVE AS PRESIDENT OF A NEW EDUCATIONAL AND PROFESSIONAL PUBLISHING GROUP FOCUSING ITS EFFORTS ON INTERNATIONAL MARKETS THE GROUP WILL INCLUDE MCGRAWHILL'S EDUCATIONAL AND PROFESSIONAL PUBLISHING GROUP WHICH HAD 1992 REVENUE OF 567 MILLION OR ABOUT 28 OF THE PARENT COMPANY'S SALES IT WILL ALSO INCLUDE A SCHOOL PUBLISHING GROUP THAT WAS FORMERLY A JOINT VENTURE BETWEEN MACMILLAN AND MCGRAWHILL AND HAD 1992 REVENUE OF 504 MILLION 9311120106 931112 INTERNATIONAL RUSSIA PUTS BANKRUPTCY LAW TO WORK BUT FIRST SEARCHES FOR BEST TEST CASE BY ELISABETH RUBINFIEN STAFF REPORTER OF THE WALL STREET JOURNAL BELYAIKOVO RUSSIA IT'S NOT EASY BEING A BANKRUPTCY GUINEA PIG BECAUSE THE IDEA OF LETTING COMPANIES FAIL IS HIGHLY UNPOPULAR AMONG PEOPLE ACCUSTOMED TO STATE SUPPORT RUSSIA WANTED THE TEST CASE OF ITS NEW BANKRUPTCY LAW TO SET A CONSTRUCTIVE EXAMPLE WHILE THE LEGISLATION PASSED IN MARCH ALLOWS FOR LIQUIDATIONS AND BAILOUTS THE GOVERNMENT SET OUT TO MAKE THE FIRST CASE A REORGANIZATION BUT THE SEARCH FOR A COMPANY THAT WAS AT ONCE INSOLVENT REVIVABLE AND WILLING PROVED GRUELING NEARLY THREE DOZEN COMPANIES REFUSED BECAUSE OF THE STIGMA ATTACHED TO THE WORD BANKRUPTCY ONE COMPANY EVEN SOLD ITSELF AT WAY BELOW MARKET VALUE TO AVOID SUCH A TAINT OFFICIALS AT THE ZVEZDA FACTORY HERE WERE AT FIRST NO LESS RELUCTANT BUT THE COMPANY WAS CHOSEN ANYWAY WHEN DELEGATES FROM THE BANK AND THE BANKRUPTCY COMMITTEE OF NIZHNY NOVGOROD A PROVINCIAL CAPITAL CAME TO ZVEZDA THEY FOUND THAT THENDIRECTOR VLADIMIR MAKAROV HAD SUDDENLY BECOME ILL AND UNAVAILABLE AS A MORAL AND PSYCHOLOGICAL QUESTION THIS WAS VERY DIFFICULT SAYS NADEZHDA SHANINA ZVEZDA'S CHIEF ECONOMIST HE REALIZED IT WOULD BE THE END OF HIS CAREER THE FIRST MEETING BETWEEN COMPANY AND BANK OFFICIALS DEGENERATED INTO A SHOUTING MATCH EACH SIDE HURLING BLAME AT THE OTHER THE ONE THING BOTH SIDES AGREED ON WAS THAT THE BIRCH FORESTS SURROUNDING BELYAIKOVO HAVE SOME OF THE BEST MUSHROOMS IN THE WORLD WHAT FINALLY BROKE THE TENSION WAS AN IMPROMPTU MUSHROOMPICKING TRIP AFTERWARD THE FACTORY OFFICIALS AGREED TO CONSIDER THE IDEA OF A BANKRUPTCY REORGANIZATION FINDING AN OUTSIDE DIRECTOR TO TAKE OVER THE FACTORY DURING THE 18MONTH REORGANIZATION WAS THE NEXT STEP ULTIMATELY THE FACTORY ITSELF SUGGESTED THAT A 25YEAROLD FORMER ENGINEERING STUDENT ALEKSEI KUPTSOV MIGHT TAKE ON THE JOB ZVEZDA OFFICIALS ALREADY KNEW MR KUPTSOV HIS TRADING COMPANY IN NIZHNY NOVGOROD SUCCESSFULLY SOLD ZVEZDA CUTLERY AND KNIVES AS FAR AWAY AS SIBERIA AND HE UNDERSTOOD THE MARKET MOREOVER HE WAS ALREADY A SHAREHOLDER WITH A 28 STAKE ACQUIRED THROUGH THE COMPANY'S PRIVATIZATION PROCEDURE AND ODDLY MR KUPTSOV WANTED THE JOB IN PART HE WANTED TO TEST HIS ABILITIES HE ALSO FIGURED HE'D STAND A BETTER CHANCE OF RECOUPING HIS INVESTMENT IF HE GOT THE COMPANY BACK ON TRACK ONLY A FEW YEARS AGO ZVEZDA WAS HOLDING ITS OWN EMPLOYING 1500 WORKERS AND PRODUCING GOODS THAT AT TODAY'S PRICES WOULD BE VALUED AT ABOUT 170000 A MONTH ZVEZDA PROVIDED CUTLERY TO THE MILITARY THROUGH A CENTRAL DISTRIBUTION BASE RUN BY THE SAME MAN FOR DECADES THE 70YEAROLD FACTORY PROVIDED HOUSING EDUCATION MEDICAL CARE AND EVEN A SMALL AMUSEMENT PARK BUT ZVEZDA'S ORDERS STOPPED COMING WHEN CENTRAL PLANNING DISSOLVED TODAY THE PARK'S FERRIS WHEEL IS RUSTED AND THE SWINGS ARE BROKEN SINCE 1989 ZVEZDA HAS HAD FOUR DIRECTORS EACH LEFT THINGS WORSE WHEN HE MOVED ON THE COMPANY NOW HAS 130 MILLION RUBLES ABOUT 110000 IN DEBT MEANWHILE SOME CUSTOMERS KEPT BUYING BUT STOPPED PAYING LEAVING ZVEZDA TODAY WITH ABOUT 40 MILLION RUBLES IN RECEIVABLES LAYOFFS AND ATTRITION HAVE REDUCED THE WORK FORCE TO ABOUT 520 MR KUPTSOV AND HIS NEW MANAGEMENT TEAM ARE TAKING ON THE CHALLENGE WITH THE IDEALISM OF YOUNG COMMUNIST PARTY KOMSOMOL RECRUITS DESPITE THE OBSTACLES SINCE SEPTEMBER MR KUPTSOV AND THREE PARTNERS FROM THE TRADING COMPANY HAVE BEEN SHARING A DILAPIDATED TWOROOM COTTAGE IN BELYAIKOVO WITH NO INDOOR PLUMBING ON THE SHOP FLOOR THE WORKERS AREN'T INTERESTED IN THEIR NEW MANAGERS' IDEALISM THEY WANT TO KNOW TWO THINGS WHEN WILL THEY START GETTING FULL PAY AND WHEN WILL THEY BE BACK AT WORK FULL TIME OUR WHOLE STORY IS THAT THEY DON'T GIVE US MONEY SAYS 45YEAROLD WORKER ZOYA BERYOZINA BUT WHERE ELSE SHOULD WE GO MR KUPTSOV HOPES TO RESTART THE NEGLECTED FACTORY BEFORE WINTER IF PRODUCTION HASN'T INCREASED BY JANUARY HE SAYS THE FACTORY'S DEBTS WILL OUTWEIGH ITS PRODUCTIVE CAPACITY BUT THE FACTORY GROUNDS ARE A WRECK ZVEZDA HAS ONLY ONE PHONE AND THAT ONE OFTEN GOES DEAD HOW CAN I WORK ON MARKETING OR ANYTHING ELSE WITH THIS PHONE PROBLEM GRUMBLES MR KUPTSOV ONE SUCH TIME PUFFING STEAM IN HIS UNHEATED OFFICE STILL ZVEZDA'S MANAGERS NOTE THAT PRODUCTION EQUIPMENT IS ONLY 30 AMORTIZED AND THAT SEVERAL UNFINISHED BUILDINGS COULD BE SPIFFED UP AND RENTED OUT FOR QUICK CASH MR KUPTSOV PLANS TO STICK WITH THE EXISTING PRODUCT MIX AND FOCUS ON FINDING NEW MARKETS HIS NEXT HOPE IS TO GET FURTHER CASH CREDITS OR MAKE DEALS WITH SUPPLIERS FOR MATERIALS ON CREDIT HE ALSO THINKS ZVEZDA COULD FIND MARKETS OVERSEAS BY PRODUCING TO ORDER OR BY SELLING STANDARD GOODS AT VERY LOW PRICES SAVVY MARKETING AND BUSINESS PLANNING MAY HELP ZVEZDA PULL OUT OF ITS HOLE BUT IF THE COMPANY REALLY IS TO REVIVE WORKERS NEED A NEW ATTITUDE EVEN THE MOST OPTIMISTIC SEE THE REORGANIZATION AS A NEW PATH TO GOVERNMENT SUBSIDIES AND EVEN THE YOUNGEST DISPLAY SOVIETSTYLE PASSIVITY EXPECTING HANDOUTS AND LACKING INITIATIVE A GROUP OF YOUNG WOMEN SURROUNDS THE NEW ADMINISTRATIVE MANAGER NADEZHDA LOBASHOVA AS SHE HEADS TOWARD HER CHILLY OFFICE WHEN ARE WE GOING TO GET OUR DISCO DEMANDS A 20YEAROLD IN JEANS TOLD THAT THEY SHOULD ORGANIZE THE CLUB THEMSELVES SHE RESPONDS YOU'RE OBLIGED TO THINK ABOUT PROVIDING RELAXATION FOR THE YOUNG PEOPLE WHO WORK HERE YOU KNOW 9311120105 931112 TWO EXEMPLOYEES OF ORANGE & ROCKLAND ADMIT 199000 THEFT NEW CITY NY AP TWO FORMER EMPLOYEES OF ORANGE & ROCKLAND UTILITIES INC PLEADED GUILTY TO STEALING 199000 FROM THE UTILITY THROUGH A PHONY BILLING SCHEME IN 1991 AND 1992 PAUL AND MARIA PICKARD ADMITTED BEFORE ROCKLAND COUNTY COURT JUDGE ROBERT MEEHAN THAT THEY CREATED A PAPER COMPANY IN 1991 TO SIPHON FUNDS FROM ORANGE & ROCKLAND THEY ADMITTED THAT PHONY BILLS WERE SUBMITTED BY PRINTERS AND FROM AN ADVERTISING CONCERN WHICH WAS THEIR DUMMY COMPANY COMMUNICATION STRATEGIES INTERNATIONAL THOUGH THE UTILITY BASED IN PEARL RIVER NY PAID THE BILLS THE WORK WASN'T DONE AND THE PICKARDS POCKETED THE MONEY MR PICKARD 47 YEARS OLD WAS VICE PRESIDENT OF ORANGE & ROCKLAND'S CORPORATE COMMUNICATIONS FROM 1982 TO 1992 AND HIS WIFE MARIA 34 WAS AN ASSISTANT IN THE SAME OFFICE FROM 1981 TO 1991 THEIR PLEAS FOLLOW A GUILTY PLEA LAST MONTH BY A FORMER VICE PRESIDENT FOR CORPORATE COMMUNICATIONS AT THE UTILITY LINDA WINIKOW THE ROCKLAND COUNTY DISTRICT ATTORNEY'S OFFICE HAS SAID IT WOULDN'T FILE CHARGES AGAINST ORANGE & ROCKLAND UTILITIES IN ITS CONTINUING INVESTIGATION OF BRIBERY AND ILLEGAL CAMPAIGN CONTRIBUTIONS INVOLVING MS WINIKOW THE PICKARDS WILL BE SENTENCED NEXT MAY THEY AGREED TO REPAY THE MONEY TO THE UTILITY AS PART OF THE DISTRICT ATTORNEY'S RECOMMENDATION THAT THEY BE SENTENCED TO PROBATION AND COMMUNITY SERVICE 9311120104 931112 MONEYFUND ASSETS CLIMBED 16 BILLION IN MOST RECENT WEEK WASHINGTON MONEY MARKET MUTUAL FUND ASSETS ROSE 160 BILLION TO 58279 BILLION FROM 58119 BILLION FOR THE WEEK ENDED WEDNESDAY NOV 10 THE INVESTMENT COMPANY INSTITUTE SAID THE PREVIOUS WEEK'S FIGURE WAS REVISED ASSETS OF 649 RETAIL MONEY MARKET MUTUAL FUNDS ROSE BY 180 BILLION TO 39150 BILLION THE TRADE GROUP SAID AMONG RETAIL FUNDS ASSETS OF 407 TAXABLE MONEY MARKET FUNDS GREW BY 122 BILLION TO 30620 BILLION ASSETS OF 242 RETAIL TAXEXEMPT FUNDS ROSE BY 5798 MILLION TO 8530 BILLION ASSETS OF THE 274 INSTITUTIONAL MONEY MARKET FUNDS FELL BY 2012 MILLION TO 19129 BILLION AMONG INSTITUTIONAL FUNDS THE ASSETS OF 221 TAXABLE MONEY MARKET FUNDS FELL BY 3753 MILLION TO 16924 BILLION ASSETS OF 53 TAXEXEMPT FUNDS GREW BY 1742 MILLION TO 2205 BILLION 9311120103 931112 TECHNOLOGY US STUDY QUESTIONS LINK OF HEART DISEASE TO BODY'S IRON LEVEL ATLANTA US RESEARCHERS FAILED TO FIND EVIDENCE TO SUPPORT A REPORT FROM FINLAND LAST YEAR THAT PEOPLE WITH EXCESS IRON HAVE A HIGH RISK OF HEART DISEASE THE FINNISH REPORT TOUCHED OFF CONTROVERSY ABOUT THE AMOUNT OF IRON ADDED TO FOODS TO PREVENT ANEMIAS IN A REPORT TO THE SCIENTIFIC SESSIONS HERE OF THE AMERICAN HEART ASSOCIATION TWO BALTIMORE RESEARCHERS SAID THEY STUDIED THE RECORDS OF 48000 AUTOPSIES AT JOHNS HOPKINS HOSPITAL IN BALTIMORE SINCE 1889 THEY FOUND 65 ADULTS WHOSE RECORDS MENTIONED THEY HAD IRON OVERLOAD OUR HYPOTHESIS WAS IF IRON IS AN IMPORTANT RISK FACTOR WE WOULD FIND CORONARY HEART DISEASE WHEN WE LOOK AT THE MOST SEVERE CASES OF IRON OVERLOAD SAID CARDIOLOGIST MICHAEL MILLER OF THE UNIVERSITY OF MARYLAND MEDICAL CENTER WHO DID THE STUDY WITH PATHOLOGIST GROVER M HUTCHINS DIRECTOR OF AUTOPSY SERVICES AT THE BALTIMORE HOSPITAL THEY FOUND THAT ONLY THREE OF THE 65 IRONOVERLOAD PATIENTS HAD CLOGGED CORONARY ARTERIES BY CONTRAST WHEN THEY CHECKED 65 CONTROL AUTOPSIES OF PERSONS WITH NO MENTION OF IRON OVERLOAD THEY FOUND 11 HAD CLOGGED CORONARY ARTERIES THE RESEARCHERS ALSO FOUND THAT THE IRONOVERLOAD PATIENTS TENDED TO HAVE RELATIVELY LOW CHOLESTEROL THE ONE IRONOVERLOAD PATIENT WITH AN UNUSUALLY HIGH CHOLESTEROL LEVEL HAD SEVERE CORONARY HEART DISEASE THEY NOTED THAT IN THE FINNISH STUDY PEOPLE WITH BOTH HIGHER CHOLESTEROL AND HIGHER IRON SEEMED TO HAVE A HIGHER RISK OF HEART DISEASE THE US RESEARCHERS SAID PEOPLE WHO ARE ANEMIC AND NEED TO TAKE IRON SUPPLEMENTS SHOULD DO SO UNLESS THEY HAVE HIGH CHOLESTEROL 9311120102 931112 ABREAST OF THE MARKET INDUSTRIALS EDGE DOWN 112 POINTS IN ACTIVE VETERANS DAY TRADING BY DAVE PETTIT SPECIAL TO THE WALL STREET JOURNAL NEW YORK WITH LITTLE NEWS BUT PLENTY OF CAUTION STOCKS EDGED LOWER IN SURPRISINGLY ACTIVE TRADING THE DOW JONES INDUSTRIAL AVERAGE FOLLOWED UP ON WEDNESDAY'S VIGOROUS 23POINT RALLY WITH A SCANT LOSS OF 112 OR 003 TO 366243 ASIDE FROM BLIPS HIGHER AND LOWER AT OPPOSITE ENDS OF THE SESSION THE AVERAGE STAYED IN A 15POINT RANGE BROADBASED INDEXES ALSO EASED BIG BOARD DECLINERS OUTPACED ADVANCERS 1115 TO 934 VOLUME ON THE EXCHANGE THOUGH REACHED ABOUT 283824130 SHARES THAT WAS JUST ABOVE WEDNESDAY'S 283371320 DESPITE THE VETERANS DAY HOLIDAY WHICH CLOSED THE BOND MARKET AND WAS EXPECTED TO CRIMP STOCK TRADING WEAKNESS IN FINANCIALRELATED STOCKS INCLUDING BANKS AND INSURANCE ISSUES OVERPOWERED A SECOND STRAIGHT DAY OF GAINS IN CYCLICALS AND TECHNOLOGY SHARES THE STRENGTH IN COMPUTERRELATED ISSUES THOUGH HELPED THE TECHNOLOGYWEIGHTED NASDAQ STOCK MARKET BUCK THE DOWNWARD TREND OF THE BIG BOARD THE NASDAQ COMPOSITE INDEX ADDED 248 OR 032 TO 77898 ITS FIFTH STRAIGHT ADVANCE THE AMERICAN STOCK EXCHANGE MARKET VALUE INDEX ALSO GAINED RISING 128 OR 027 TO 47798 BUT THE STANDARD & POOR'S 500STOCK INDEX FELL 108 OR 023 TO 46264 TRADERS AND ANALYSTS CITED A RANGE OF REASONS FOR THE CAUTIOUSNESS THAT RESTRAINED THE MARKET'S MOVEMENT AMONG THEM WORRIES ABOUT THE FATE OF THE NORTH AMERICAN FREE TRADE AGREEMENT ABOUT THE HIGH VALUATIONS OF MANY STOCKS AND ABOUT THE RECENT GAINS IN INTEREST RATES ALTHOUGH THERE WASN'T ANY BOND TRADING YESTERDAY FUTURES ON GOVERNMENT SECURITIES DID TRADE AND LOST GROUND CONVICTION LEVELS ARE NOT THAT THICK SAID ERIC MILLER MARKET STRATEGIST AT DONALDSON LUFKIN & JENRETTE THE LACKLUSTER ACTION HE SAID SUGGESTS LAST WEEK'S CORRECTION IS NOT COMPLETE THE DOW JONES INDUSTRIAL AVERAGE LOST MORE THAN 70 POINTS IN TWO DAYS LAST WEEK DAVID SHULMAN MARKET STRATEGIST AT SALOMON BROTHERS EXPECTS MORE MODEST ACTIVITY IN STOCKS AHEAD OF NEXT WEEK'S EXPECTED CONGRESSIONAL VOTE ON NAFTA BUT HE SAID EQUITIES COULD SLIDE TODAY IF A SCHEDULED COMMERCE DEPARTMENT REPORT ON RETAIL SALES IS SURPRISINGLY STRONG AND CLOBBERS BONDS ANALYSTS EXPECT THE OCTOBER SALES READING TO SHOW A 1 GAIN COMPARED WITH A SEPTEMBER INCREASE OF JUST 01 AMONG THE STRONG ECONOMICALLY SENSITIVE AND TECHNOLOGY STOCKS INTERNATIONAL BUSINESS MACHINES ROSE 2 1/8 TO 52 ALLIEDSIGNAL INCREASED 1 TO 72 7/8 INTERNATIONAL PAPER GAINED 1 3/4 TO 64 3/8 AND ON NASDAQ CISCO SYSTEMS INCREASED 1 3/8 TO 55 3/4 IN THE FINANCIAL GROUPS WELLS FARGO DROPPED 2 3/8 TO 112 1/8 AMERICAN INTERNATIONAL FELL 1 1/4 TO 86 3/4 AMERICAN EXPRESS EASED 3/8 TO 30 7/8 AND CHASE MANHATTAN DECLINED 5/8 TO 32 DREYFUS CORP THOUGH CLOSED WITH A GAIN OF 1 3/4 TO 42 5/8 AFTER JUMPING AS MUCH AS 4 7/8 EARLY IN THE DAY ON RUMORS IT WOULD BE ACQUIRED THE STOCK SLIPPED FROM ITS HIGHS AFTER THE NEW YORK MUTUAL FUND COMPANY ACKNOWLEDGED IT HAD HAD ACQUISITION TALKS BUT SAID THOSE DISCUSSIONS HAD BEEN TERMINATED MCDONNELL DOUGLAS SOARED 4 7/8 TO 104 7/8 THE SHARES CLIMBED AFTER HERB LANESE CHIEF FINANCIAL OFFICER DELIVERED AN UPBEAT VIEW OF THE COMPANY'S CASH FLOW DEBT AND MARGINS TO ANALYSTS ONE ANALYST SAID THAT THE COMPANY'S BASIC MESSAGE WAS THAT WALL STREET'S 1994 EARNINGS ESTIMATE OF 12 A SHARE SEEMS CONSERVATIVE PARAMOUNT COMMUNICATIONS SURGED 2 TO 82 1/2 AFTER THE MARKET CLOSED BELLSOUTH JOINED THE BATTLE FOR PARAMOUNT AND AGREED TO INVEST 15 BILLION IN QVC NETWORK WITH BELLSOUTH'S NEW BACKING QVC IS WIDELY EXPECTED TO SWEETEN ITS 96 BILLION OFFER FOR PARAMOUNT BELLSOUTH ADDED 1/2 TO 57 5/8 AND QVC NETWORK SLIPPED 1/2 TO 51 3/4 CLASS B SHARES OF VIACOM WHICH IS MAKING A COMPETING BID FOR PARAMOUNT ENDED UNCHANGED AT 47 1/2 ON THE AMERICAN STOCK EXCHANGE GAP JUMPED 3 1/8 TO 39 1/2 THE SAN FRANCISCO APPAREL STORE CHAIN REPORTED THIRDQUARTER NET INCOME OF 54 CENTS A SHARE UP FROM 43 CENTS A YEAR AGO AND ABOVE THE 49 CENTS MEAN ESTIMATE OF ANALYSTS SURVEYED BY IBES THE INSTITUTIONAL BROKERS ESTIMATE SYSTEM BEST BUY THOUGH TUMBLED 6 1/8 TO 54 1/2 AFTER JOHNSON RICE & CO ANALYST DAVID CHILDE SAID THE BLOOMINGTON MINN COMPANY'S BUSINESS COULD BE HURT BY INCREASINGLY AGGRESSIVE PRICECUTTING THAT HE EXPECTS FROM CIRCUIT CITY STORES A COMPETITOR THAT COMPANY'S STOCK FELL 3/4 TO 27 1/8 PHILIP MORRIS RALLIED 1 3/8 TO 56 3/4 AFTER ANALYSTS AT GOLDMAN SACHS AND SALOMON BROTHERS UPGRADED RATINGS ON THE NEW YORK TOBACCO AND FOOD COMPANY BOTH SECURITIES FIRMS VIEW THE CIGARETTE PRICE INCREASE DISCLOSED THIS WEEK BY RJR NABISCO AS A SIGN THAT PRICE WARS IN THE CIGARETTE BUSINESS MIGHT BE ENDING RJR ADDED 1/8 TO 6 7/8 ON MARKETLEADING VOLUME OF 73 MILLION SHARES AMERICAN TELEPHONE & TELEGRAPH CLIMBED 1 3/8 TO 56 3/4 AFTER THE COMPANY RECEIVED A CONTRACT TO PROVIDE SOME OF THE EQUIPMENT THAT PACIFIC TELESIS WILL USE TO UPGRADE THE COMMUNICATIONS NETWORK OF ITS PACIFIC BELL UNIT TERMS WEREN'T DISCLOSED BUT A WALL STREET JOURNAL REPORT VALUED THE PACT AT 5 BILLION PACIFIC TELESIS SHARES THOUGH SLUMPED 1 3/8 TO 55 1/4 SHARES OF THE SAN FRANCISCO COMPANY LEAPT 3 1/8 WEDNESDAY NEWS OF THE PLANNED UPGRADE ALSO LIFTED SHARES OF OTHER COMMUNICATIONS EQUIPMENT PROVIDERS ACCORDING TO SALOMON'S MR SHULMAN ON NASDAQ DSC COMMUNICATIONS INCREASED 3 1/2 TO 67 1/8 AND NEWBRIDGE NETWORKS ROSE 3 TO 65 9311120101 931112 PEPPERAND SALT WHATEVER HAPPENED TO THE LUTE I GUESS THESE DAYS IT DOESN'T SUIT BUT ALSO NO BRUISES OR SPRAINS 9311120100 931112 BARCLAYS LEADS IN CREDITCARD ANTIFRAUD EFFORT UK BANK PIONEERS IN USE OF ARTIFICIAL INTELLIGENCE TO FOIL CATCH THIEVES BY NICHOLAS BRAY STAFF REPORTER OF THE WALL STREET JOURNAL NORTHAMPTON ENGLAND SPLASHING OUT WITH YOUR CREDIT CARD ON AN UNACCUSTOMED SPENDING SPREE LOADING UP WITH WINE AND WHISKY FROM SEVERAL DIFFERENT STORES ON THE SAME DAY BUYING SOME FANCY JEWELERY ON YOUR FIRST TRIP ABROAD IN YEARS OR YOUR THIRD TELEVISION SET IN TWO DAYS IF SO DON'T BE SURPRISED TO FIND YOUR CREDITCARD COMPANY ON THE LINE CHECKING IF IT REALLY IS YOU USING THE CARD AND NOT A THIEF USING ARTIFICIAL INTELLIGENCE HUMANLIKE THINKING ON A COMPUTER SUCH CHECKS ARE THE LATEST ADDITION TO BANKS' WEAPONS TO COMBAT CARD FRAUD THEY'RE PARTICULARLY AIMED AT THE 40 OF CARDFRAUD CASES IN BRITAIN AND 90 IN THE US WHERE CARDS HAVE BEEN LOST OR STOLEN WITHOUT THE HOLDER HAVING REPORTED THE FACT TO THE CARD ISSUER FOR THE MOMENT SUCH CHECKS ARE OPERATED BY ONLY A HANDFUL OF CARD ISSUERS WORLDWIDE IN BRITAIN THE US AND THE NETHERLANDS BUT THEIR USE IS LIKELY TO SPREAD THANKS TO SUCH SYSTEMS SAYS BARRY FERGUS AN OFFICIAL OF BRITAIN'S BARCLAYS BANK PLC WE'RE FINDING ABOUT 20 FRAUDS A DAY AND SAVING ABOUT 1000 1469 PER CASE BARCLAYS EUROPE'S LEADING ISSUER OF CREDIT CARDS WITH 65 MILLION ACCOUNTS AND EIGHT MILLION CARDS IS A PIONEER IN THE FIELD IT HAS EVERY INCENTIVE ITS BARCLAYCARDCREDIT CARD OPERATION LOST 31 MILLION BECAUSE OF FRAUD LAST YEAR FOLLOWING THE LOSS OR THEFT DURING THE YEAR OF SOME 370000 BARCLAYCARDS BARCLAYS'S EXISTING PROGRAMS USE KNOWLEDGEBASED OR EXPERT SYSTEMS THAT PROMPT A COMPUTER TO ASK A SERIES OF PREESTABLISHED QUESTIONS CHECKS ARE APPLIED IN TWO WAYS ON PURCHASES THAT HAVE ACTUALLY HAPPENED USING A SYSTEM KNOWN AS FRAUDWATCH INTRODUCED NEARLY THREE YEARS AGO AND ON PURCHASES AS THEY ARE BEING MADE USING A STATEOFTHEART SYSTEM CALLED FRAUD 2000 THAT STARTED OPERATIONS ONLY LAST APRIL BECAUSE OF THE WAY THE CREDITCARD BUSINESS OPERATES IN BRITAIN MOST INVESTIGATIONS RELATE TO PURCHASES THAT HAVE ALREADY BEEN MADE UNLIKE IN THE US WHERE 90 OF CARD PURCHASES REQUIRE AUTHORIZATION FROM THE CARD ISSUER MOST CARD PURCHASES IN BRITAIN DON'T NEED PRIOR APPROVAL THE FIRST TIME THE ISSUER LEARNS OF THEM IS WHEN VOUCHERS ARE PRESENTED FOR PAYMENT IN A BID TO LIMIT LOSSES BARCLAYS AND OTHER ISSUERS ARE GRADUALLY RAISING THE PROPORTION OF TRANSACTIONS REQUIRING PRIOR AUTHORIZATION FRAUDWATCH WORKS OVERNIGHT TO ANALYZE DATA RELATING TO PURCHASES THAT HAVE ALREADY BEEN MADE HAS A CARD BEEN USED FOR A NUMBER OF HIGHVALUE TRANSACTIONS IN A SHORT SPACE OF TIME HAVE THESE OCCURRED ONLY DAYS AFTER THE CARD WAS BEING ISSUED INDICATING IT MAY HAVE BEEN INTERCEPTED BEFORE REACHING THE PERSON IT WAS DESTINED FOR OR AFTER SEVERAL MONTHS OF INACTIVITY ON THE ACCOUNT IF THE ANSWER IS YES THE COMPUTER COMPARES PURCHASES WITH RECORDS OF THE CARDHOLDER'S PAST USAGE PATTERNS IF THE LATEST PURCHASES CONFORM TO THESE PATTERNS THE TRANSACTION IS LESS LIKELY TO BE FRAUDULENT SO NO IMMEDIATE ACTION IS TAKEN IF THEY DON'T HOWEVER THE COMPUTER FORWARDS DETAILS OF SUSPICIOUS CASES TO BARCLAYS INVESTIGATORS FOR FOLLOWUP THE NEXT DAY IN SOME OBVIOUSLY PROBLEMATIC CASES THE BANK PUTS AN IMMEDIATE STOP ON THE CARD IN OTHER CASES TO AVOID DIFFICULTIES FOR LEGITIMATE CUSTOMERS IT TRIES TO CONTACT THE CARD HOLDER BY PHONE IF POSSIBLE OR BY MAIL NINE TIMES OUT OF 10 APPARENTLY SUSPICIOUS TRANSACTIONS TURN OUT TO BE ABOVEBOARD WHERE BARCLAYS HAS REALLY RAISED THE STAKES HOWEVER IS IN RELATION TO PURCHASES REQUIRING PRIOR AUTHORIZATION FRAUD 2000 WHICH TOOK NINE BARCLAYS EXPERTS ONE YEAR TO DEVELOP ANALYZES REQUESTS FOR AUTHORIZATION AS THEY COME IN SCANNING MORE THAN 100000 TRANSACTIONS PER DAY TO MINIMIZE WAITING AN INCONVENIENCE FOR RETAILERS AND CUSTOMERS THE AUTOMATED PART OF THE PROCESS IS KEPT TO BELOW ONE SECOND ONCE AN ALERT IS SOUNDED IT'S UP TO BARCLAYS OFFICERS TO ESTABLISH DIRECTLY WITH THE RETAILER OR THE CARD USER WHETHER THE PURCHASE IS LEGITIMATE OR NOT BARCLAYS'S FRONT LINE IN THIS BATTLE IS ITS FRAUD 2000 OPERATIONS ROOM OPEN 24 HOURS A DAY AT BARCLAYCARD HOUSE LOCATED HERE IN THE ENGLISH MIDLANDS SEATED AT DESKS EQUIPPED WITH BULKY TELEPHONE RECEIVER SETS AND COMPUTER TERMINALS SPECIALLY TRAINED OFFICERS WAIT FOR CALLS FROM RETAILERS RESPONDING TO INSTRUCTIONS FROM THE BARCLAYCARD AUTHORIZATION CENTER 140 MILES AWAY IN LIVERPOOL NORTHERN ENGLAND THE TELEPHONE RINGS AND A YOUNG MAN PICKS IT UP USING PREPRINTED FORMS HE TAKES DETAILS FROM THE RETAILER OF THE PURCHASE FOR WHICH AUTHORIZATION IS BEING REQUESTED THEN HE ASKS TO SPEAK TO THE PERSON WHO PRESENTED THE CARD IN THIS CASE A FEW SIMPLE REQUESTS FOR PERSONAL DATA FOR EXAMPLE ADDRESS AND DATE OF BIRTH ARE ENOUGH FOR THE BARCLAYS OFFICER TO DECIDE TO AUTHORIZE THE PURCHASE WITH CARE AND A BIT OF LUCK HOWEVER BARCLAYS CAN OFTEN CATCH A THIEF REDHANDED AND SOMETIMES EVEN HAVE HIM ARRESTED EVEN IF THE IMPOSTOR SIMPLY WALKS AWAY FROM THE STORE HE'LL HAVE TO LEAVE THE STOLEN CARD BEHIND BECAUSE THE RETAILER IS INSTRUCTED TO HOLD ONTO CARDS WHILE AUTHORIZATION IS BEING REQUESTED 9311120099 931112 NEC CUTS PRICES AS MUCH AS 45 ON COMPUTERS REDUCTIONS ON FIRM'S PCS IN JAPAN REFLECT MOVES BY US COMPETITORS BY DAVID P HAMILTON STAFF REPORTER OF THE WALL STREET JOURNAL TOKYO THE PRESSURE FROM US PERSONALCOMPUTER MAKERS IS CLEARLY STARTING TO RATTLE NEC CORP NEC WHICH HOLDS MORE THAN HALF THE JAPANESE PC MARKET CUT PRICES WEDNESDAY ON ITS PC LINEUP IN JAPAN BY AS MUCH AS 45 ITS SECOND SIZABLE CUT SINCE US PC MAKERS COMPAQ COMPUTER CORP INTERNATIONAL BUSINESS MACHINES CORP AND DELL COMPUTER CORP STORMED NEC'S HOME TURF WITH LOWPRICED MACHINES ALMOST A YEAR AGO SINCE THE NEW COMPETITORS ARRIVED NEC HAS BEEN UNDER INCREASING PRESSURE TO MATCH THEIR PRICES AND ADOPT THE US PC STANDARD NEC'S PERSONAL COMPUTERS AREN'T COMPATIBLE WITH THOSE SOLD BY US MAKERS ANALYSTS INTERPRET NEC'S LATEST ROUND OF PRICE CUTS AS A FRANK ADMISSION THAT THE COMPANY IS WORRIED ABOUT THE INVASION OF USSTYLE PCS NEC'S FIRSTQUARTER PC SHIPMENTS IN JAPAN SURGED NEARLY 10 FROM THE YEARAGO PERIOD AFTER THE COMPANY'S FIRST PRICE CUT IN JANUARY BUT THEN FELL 4 IN THE SECONDQUARTER AND NEARLY 10 IN THE THIRD IN JAPAN NEC'S MACHINES ONCE HELD A BIG ADVANTAGE OVER US PCS AS NEC CUSTOMIZED THEM FOR JAPANESELANGUAGE SOFTWARE A SERVICE THE AMERICANS DIDN'T MATCH NOW HOWEVER TECHNOLOGICAL DEVELOPMENTS HAVE IMPROVED THE JAPANESELANGUAGE CAPABILITY OF THE US MACHINES WHAT'S MORE MICROSOFT CORP NOW SELLS A JAPANESELANGUAGE VERSION OF ITS WINDOWS INTERFACE SOFTWARE THAT RUNS ON BOTH NEC AND IBMSTYLE PCS WITH WINDOWS THE DIFFERENCES BETWEEN THE TWO STANDARDS HAVE NEARLY VANISHED THAT LEAVES THE ADVANTAGE WITH USSTYLE PCS SOME ANALYSTS SAY AS THEY CAN RUN BOTH JAPANESE AND ENGLISHLANGUAGE SOFTWARE WHILE NEC PCS ARE MOSTLY LIMITED TO JAPANESE TITLES THAT'S WHY NEC HAS TO AT LEAST MATCH COMPAQ'S PRICE SAID CHUCK GOTO AN ANALYST WITH SG WARBURG JAPAN INC WITH ITS LATEST CUTS NEC HAS DONE JUST THAT BY SLASHING ITS ONCEHIGH PRICE PREMIUM OVER ITS US COMPETITORS NEC'S NEWEST BOTTOMEND PC WITH A HARDDISK DRIVE FOR INSTANCE NOW SELLS FOR A SUGGESTED RETAIL PRICE OF 238000 YEN 2200 THE SAME AS COMPAQ'S LOWEND MODEL US MAKERS HAVE KEPT UP THE PRESSURE BOTH COMPAQ AND DELL HAVE CONTINUED TO CUT PRICES STEADILY OVER THE PAST FEW MONTHS AND ANALYSTS SUCH AS MR GOTO THINK THERE'S PLENTY OF ROOM FOR PRICES TO FALL FURTHER THIS PRICE DECLINE IS KEEPING A LOT OF POTENTIAL CUSTOMERS ON THE SIDELINES JUST WAITING TO SEE HOW LOW PRICES WILL GO HE SAID EVEN SO THE GREATEST PRESSURE ON NEC MAY COME NOT FROM THE US MAKERS DIRECTLY BUT FROM OTHER JAPANESE COMPANIES THAT ARE RALLYING TO THE IBM PC STANDARD FUJITSU LTD FOR INSTANCE JUST LAST MONTH UNVEILED ITS OWN IBMCOMPATIBLE LINEUP AND AGGRESSIVELY ANNOUNCED ITS INTENTION TO TAKE ON NEC SUCH CHALLENGES ARE UNUSUAL AMONG JAPANESE COMPANIES AND ANALYSTS TAKE THIS ONE AS A SIGN THAT FUJITSU MEANS BUSINESS 9311120098 931112 CREDIT LYONNAIS MULLS UK ENTRY TO SERVICE CLIENTS BY NICHOLAS BRAY STAFF REPORTER OF THE WALL STREET JOURNAL LONDON CREDIT LYONNAIS OF FRANCE IS STUDYING PLANS TO ENTER BRITAIN'S PERSONALBANKING MARKET IN A REPLAY OF ITS EXPANSION INTO OTHER NORTHERN EUROPEAN COUNTRIES SUCH AS BELGIUM DESPITE INDICATIONS THAT BRITAIN ALREADY HAS MORE BANK BRANCHES THAN IT NEEDS SAYS OLIVIER MAS CREDIT LYONNAIS'S GENERAL MANAGER IN LONDON WE ARE NOT UNDER THE IMPRESSION THAT THE UK MARKET IS OVERBANKED THOUGH NO DECISION HAS YET BEEN TAKEN WE FEEL CONFIDENT THAT THERE IS A WINDOW FOR A BANK LIKE OURS HE ASSERTS IF IT DECIDES TO GO AHEAD CREDIT LYONNAIS IS LIKELY TO FOLLOW A STRATEGY THAT IS GAINING GROUND AMONG LEADING EUROPEAN BANKS USING TELECOMMUNICATIONS AND COMPUTER TECHNOLOGY TO CONCENTRATE ON A RESTRICTED CUSTOMER BASE RATHER THAN SETTING UP AN EXTENSIVE NETWORK OF BRANCHES MR MAS SAYS CREDIT LYONNAIS IS CONSIDERING USING ELECTRONIC BANKING TO OFFERING HIGHQUALITY SERVICES TO A TARGET CUSTOMER SEGMENT OF AFFLUENT INDIVIDUALS THROUGH A LIMITED NUMBER OF BRANCHES IN DOING SO IT WOULD AVOID COMPETING HEADON WITH UK BANKS MANY OF WHICH ARE IN THE PROCESS OF REDUCING THE SIZE OF THEIR BRANCH NETWORKS NEWS OF CREDIT LYONNAIS'S PLANS IN THE UK PERSONALBANKING MARKET COINCIDES WITH ITS ADMISSION ALONG WITH GERMANY'S DEUTSCHE BANK INTO BRITAIN'S CLEARING HOUSE AUTOMATED PAYMENT SYSTEM OR CHAPS THE ELECTRONIC CREDIT TRANSFER SYSTEM OPERATED BY UK BANKS CHAPS WHICH IS SIMILAR TO THE US BANKS' CLEARING HOUSE INTERBANK PAYMENT SYSTEM OR CHIPS PROVIDES FACILITIES FOR MAKING GUARANTEED AND IRREVOCABLE PAYMENTS IN STERLING THROUGHOUT THE UK MEMBERSHIP WILL ENABLE BOTH CREDIT LYONNAIS AND DEUTSCHE BANK TO EXPAND THE SERVICES THEY CAN PROVIDE THEIR ENTRY BRINGS THE NUMBER OF PARTICIPANTS IN CHAPS TO 16 INCLUDING MOST MAJOR UK COMMERCIAL BANKS AND CITIBANK UNTIL NOW THE ONLY NONUK MEMBER MEMBERSHIP FOR CREDIT LYONNAIS MEMBERSHIP IN CHAPS MARKS A SIGNIFICANT EXTENSION OF ITS CLEARING CAPABILITIES IN MAJOR MARKETS IN ADDITION TO FRENCH FRANCS IT IS ALSO ABLE TO PROVIDE SETTLEMENT FACILITIES IN BELGIAN FRANCS GERMAN MARKS DUTCH GUILDERS ITALIAN LIRE SPANISH PESETAS US DOLLARS AND EUROPEAN CURRENCY UNITS AS PART OF ITS EUROPEAN STRATEGY IT SAID IN A STATEMENT CREDIT LYONNAIS CONSIDERS IT OF PRIME IMPORTANCE TO BE A CLEARING BANK IN THE UK SAMEDAY TRANSFER FACILITIES IN STERLING THROUGH CHAPS WILL BE OF PARTICULAR INTEREST TO SUBSCRIBERS TO THE BANK'S CASH MANAGEMENT PRODUCT CREDIT LYONNAIS GLOBAL TREASURY THE BANK SAID CREDIT LYONNAIS HAS 13 BRANCHES IN THE UK IN LOCATIONS RANGING FROM MANCHESTER TO SOUTHAMPTON UNTIL RECENTLY ITS COMMERCIALBANKING OPERATIONS WERE ALMOST EXCLUSIVELY ORIENTED TOWARD LARGE CORPORATE CUSTOMERS BUT IN THE LAST THREE YEARS IT HAS BEEN DEVELOPING RELATIONS WITH MIDSIZE UK COMPANIES 9311120097 931112 INTERNATIONAL DAISHOWA EXECUTIVE NOTED FOR ART DEALS IS ARRESTED IN PROBE BRIBERY SCANDAL GROWS AS SAITO WHO ONCE INVESTED IN OILS IS ACCUSED OF GREASING PALMS BY JATHON SAPSFORD STAFF REPORTER OF THE WALL STREET JOURNAL TOKYO PROSECUTORS STEPPED UP THEIR ATTACK ON GRAFT WITH THE ARREST OF A FLAMBOYANT INDUSTRIALIST AND ART COLLECTOR ON SUSPICION OF BRIBING A LOCAL OFFICIAL ARRESTED WAS DAISHOWA PAPER CO HONORARY CHAIRMAN RYOEI SAITO WHO GAINED INTERNATIONAL NOTORIETY THREE YEARS AGO WHEN IN A WEEK HE BOUGHT TWO OIL PAINTINGS A VAN GOGH AND A RENOIR FOR 1606 MILLION MR SAITO'S ARREST IS THE LATEST IN A WIDENING SCANDAL THAT HAS BROUGHT DOWN MORE THAN TWO DOZEN REGIONAL POLITICIANS AND CONSTRUCTIONINDUSTRY EXECUTIVES ON ALLEGATIONS OF EXCHANGING BRIBES FOR PUBLICWORKS CONTRACTS HIS FALL SUGGESTS THAT PROSECUTORS MAY BE BROADENING THEIR CORRUPTION PROBE BEYOND CONTRACTORS TO OTHER SECTORS OF CORPORATE JAPAN MR SAITO WHO HID HIS HEAD IN HIS ARMS THURSDAY AS PROSECUTORS DROVE HIM TO A DETENTION CENTER ALLEGEDLY GAVE FORMER MIYAGI PREFECTURE GOV SHUNTARO HONMA A BRIBE OF 100 MILLION YEN 933600 IN EXCHANGE MR HONMA REPORTEDLY BENT PREFECTURAL RULES TO ALLOW COMPANIES AFFILIATED WITH MR SAITO TO DEVELOP A GOLF COURSE AND A HOUSING PROJECT IT'S MY POLICY TO GET WHATEVER I WANT NO MATTER HOW MUCH MONEY I HAVE TO PILE UP MR SAITO BOASTED IN AN INTERVIEW WITH JAPAN'S ASAHI NEWSPAPER TWO YEARS AGO MR HONMA WAS ARRESTED THURSDAY FOR ALLEGEDLY TAKING BRIBES FROM MR SAITO THE FORMER GOVERNOR PREVIOUSLY HAD BEEN ARRESTED ON SEPARATE BRIBERY ALLEGATIONS A CLOSE AIDE OF MR SAITO'S ALSO FACES CHARGES MR SAITO WAS PRESIDENT OF DAISHOWA PAPER FOR 20 YEARS BEFORE STEPPING DOWN IN 1986 TO BECOME HONORARY CHAIRMAN HE IS WIDELY REPORTED TO MAINTAIN CONTROL OF ITS AFFAIRS FROM BEHIND THE SCENES HIS ELDEST SON AND SUCCESSOR AS DAISHOWA PRESIDENT KIMINORI SAITO SAID AT A NEWS CONFERENCE THAT HIS FATHER'S ARREST HAS NOTHING TO DO WITH THE COMPANY'S BUSINESS IT'S A PRIVATE AFFAIR HE SAID COMPANY OFFICIALS WERE UNAVAILABLE FOR COMMENT ON MR SAITO'S ARREST DAISHOWA ALLEGEDLY GREASED PALMS TO MOVE FORWARD PROJECTS MEANT TO DIVERSIFY ITS OPERATIONS INTO MORE PROFITABLE BUSINESSES THROUGH SUBSIDIARIES JAPAN'S PAPER INDUSTRY HAS HAD WEAK SALES AMID WHAT MANY ANALYSTS DESCRIBE AS JAPAN'S WORST ECONOMIC SLUMP IN FOUR DECADES DAISHOWA HAS RECORDED PRETAX LOSSES FOR THE PAST THREE YEARS IN 1990 MR SAITO PAID 825 MILLION FOR VAN GOGH'S PORTRAIT OF DR GACHET AT CHRISTIE'S AUCTION HOUSE IN NEW YORK AND 781 MILLION TWO DAYS LATER FOR RENOIR'S AU MOULIN DE LA GALETTE 9311120096 931112 BANK OF IRELAND POSTS HIGHER PROFIT FOR HALF THAN WAS EXPECTED SPECIAL TO THE WALL STREET JOURNAL LONDON BANK OF IRELAND GROUP REPORTED HIGHERTHANEXPECTED PROFIT FOR THE FIRST HALF THE BANK ANNOUNCED THAT PRETAX PROFIT ROSE 99 TO 1309 MILLION PUNTS OR IRISH POUNDS 1841 MILLION FOR THE SIX MONTHS ENDED SEPT 30 PERSHARE EARNINGS ROSE 130 TO 152 PENCE MORE THAN THE RESTATED 128 PENCE EARNED FOR ALL OF THE PREVIOUS FISCAL YEAR ANALYSTS SAID THE HIGHER PROFIT CAME FROM COSTCUTTING AND STRINGENT MANAGEMENT RATHER THAN FROM BUSINESS CONDITIONS WHICH REMAINED SLUGGISH AN UNEXPECTED INCREASE IN IRISH DEPOSITS WAS ONE FACTOR THAT HELPED BOOST PROFITS ABOVE THE 100 MILLION TO 110 MILLION PUNTS THAT HAD BEEN EXPECTED JOHN HOGAN DIRECTOR OF RESEARCH AT RIADA STOCKBROKERS LTD IN IRELAND SAID HE HAS RAISED HIS FULLYEAR FORECAST TO A PRETAX PROFIT OF 260 MILLION PUNTS UP FROM 2115 MILLION PUNTS HE NOW PUTS PERSHARE EARNINGS AT 31 PENCE COMPARED WITH 257 PENCE BANK OF IRELAND WAS ALSO PLEASED WITH THE RESULT SAID MAURICE KEANE DEPUTY GROUP CHIEF EXECUTIVE OFFICER BUT HE WARNED THAT THE PACE IN THE SECOND HALF MIGHT NOT MATCH THE RESULTS FOR THE FIRST HALF THAT IS IN PART BECAUSE DECLINING INTEREST RATES MADE IT EASY FOR THE BANK TO MAKE MONEY ON TREASURY ACTIVITIES IN THE FIRST HALF HE SAID MR KEANE ALSO NOTED THAT RETAIL FOREIGNEXCHANGE PROFITS TEND TO BE BETTER IN THE FIRST HALF 9311120095 931112 CURBS PROPOSED ON WALL STREET POLITICAL DONORS PLAN TO REGULATE GIVING BY MUNIBOND FIRMS IS STIFFER THAN EXPECTED BY CHRISTI HARLAN STAFF REPORTER OF THE WALL STREET JOURNAL WASHINGTON THE MUNICIPAL SECURITIES RULEMAKING BOARD PROPOSED A STRICTERTHANEXPECTED RULE THAT WOULD EFFECTIVELY PUT A STOP TO THE FLOW OF CAMPAIGN MONEY FROM WALL STREET TO STATE AND LOCAL POLITICIANS THE QUASIGOVERNMENTAL MSRB SAID MUNICIPALBOND DEALERS THAT MAKE POLITICAL CONTRIBUTIONS SHOULD BE BARRED FOR TWO YEARS FROM DOING BUSINESS WITH THE CITIES AND STATES THAT THE POLITICIANS SERVE IF I MAKE ANY KIND OF CONTRIBUTION TO A RACE IN NEW YORK CITY I'M OUT OF BUSINESS IN NEW YORK SAID MSRB PRESIDENT DAVID CLAPP OF GOLDMAN SACHS & CO THE PROPOSED RULE WHICH MUST BE APPROVED BY THE SECURITIES AND EXCHANGE COMMISSION IS FAR STRICTER THAN THE MSRB'S PRELIMINARY RULE WHICH HAD SUGGESTED A BAN ONLY ON THOSE POLITICAL CONTRIBUTIONS THAT WERE INTENDED TO SWAY THE AWARDING OF BOND BUSINESS THE LATEST MSRB ACTION ANNOUNCED AT A NEWS CONFERENCE YESTERDAY WOULD PUT INTO LAW PARTS OF A VOLUNTARY CONTRIBUTION BAN ADOPTED LAST MONTH BY 17 OF THE LARGEST SECURITIES FIRMS ON WALL STREET MORE IMPORTANTLY THE NEW RULE WOULD APPLY TO REGIONAL BOND FIRMS MANY OF WHICH HAVE CRITICIZED EFFORTS TO CURTAIL CONTRIBUTIONS THE PROPOSAL WOULD COVER CAMPAIGN CONTRIBUTIONS BEGINNING JAN 1 REGARDLESS OF WHEN THE SEC MAKES THE RULE FINAL THE RULE WOULD COVER CONTRIBUTIONS BY FIRMS THEIR POLITICALACTION COMMITTEES AND ANY EMPLOYEES ACTIVE IN THE FIRMS' MUNICIPALBOND BUSINESS IN APPARENT RESPONSE TO CONCERNS ABOUT LIMITING INDIVIDUALS' FREESPEECH RIGHTS THE RULE WOULD ALLOW AN INDIVIDUAL EMPLOYEE TO CONTRIBUTE AS MUCH AS 250 TO EACH CANDIDATE FOR OFFICE WHERE THE EMPLOYEE IS ELIGIBLE TO VOTE NO SUCH EXEMPTION EXISTS FOR THE FIRMS OR THEIR PACS FOR THE FIRMS AND THE PACS WE SET A GOOD DOLLAR LIMITZERO SAID MR CLAPP SEC CHAIRMAN ARTHUR LEVITT WHO HAS PRESSED HARD FOR REFORM OF THE SOMETIMES UNSEEMLY CONNECTION BETWEEN THE BOND FIRMS AND THE ISSUERS SAID HE APPLAUDS THE MSRB FOR THE BOLDNESS OF THE PROPOSAL I HAVEN'T SEEN THE DETAILS BUT IN GENERAL THEIR SENSITIVITY TO WHAT I REGARD TO BE A SIGNIFICANT NATIONAL PROBLEM IS COMMENDABLE MR LEVITT SAID HE ADDED THAT HE IS ENCOURAGED THAT THE PRIVATE SECTOR HAS BEEN SO RESPONSIVE TO THIS PROBLEM THAT THEY MAY OBVIATE THE NEED FOR COMMISSION OR LEGISLATIVE ACTION THE SEC SHOULD RECEIVE THE MSRB PROPOSAL BEFORE CHRISTMAS SAID CHRISTOPHER TAYLOR EXECUTIVE DIRECTOR OF THE BOARD THE COMMISSION IS REQUIRED TO SOLICIT PUBLIC COMMENT BEFORE VOTING ON A FINAL RULE A PERIOD THAT COULD BE AS SHORT AS 21 DAYS THE RULE WOULD BE ENFORCED BY THE SEC AND THE NATIONAL ASSOCIATION OF SECURITIES DEALERS I THINK IT IS A TOUGH RULE BUT I THINK WE NEED A TOUGH RULE TO MAKE SURE THAT THE BAN WORKS SAID GEORGE PUGH JR EXECUTIVE VICE PRESIDENT OF CRAIGIE INC A RICHMOND VA INVESTMENTBANKING FIRM IF THE RULE IS NOT TOUGH ENOUGH I THINK PEOPLE WHO HAVE INTENTIONS OF GIVING IN ORDER TO OBTAIN BUSINESS WILL FIND A WAY HE QUESTIONED WHETHER THE PROPOSED EXEMPTION FOR PERSONAL CONTRIBUTIONS IS RESTRICTIVE ENOUGH THERE IS SOME CONCERN OUT THERE THAT THAT COULD BE A LOOPHOLE HE SAID BUT I WANT TO BELIEVE THAT THIS RULE IS GOING TO HAVE A SIGNIFICANT EFFECT ON ELIMINATING POLITICAL CONTRIBUTIONS AS A FACTOR IN GETTING BUSINESS THE PROPOSAL CALLS FOR THE BOND FIRMS TO KEEP RECORDS OF THEIR CORPORATE PAC AND EMPLOYEE CAMPAIGN CONTRIBUTIONS EXCEPT FOR THOSE MADE BY EMPLOYEES WHERE THEY LIVE THE NASD WOULD EXAMINE THE RECORDS AND CROSSCHECK THEM WITH THE ENTITIES THAT AWARD BONDBUSINESS TO THE FIRMS THE CONTRIBUTION RECORDS WOULDN'T BE MADE PUBLIC AS WAS SUGGESTED IN THE MSRB'S EARLIER RULE PROPOSAL THAT PLAN FLOATED IN AUGUST CALLED FOR THE FIRMS TO REVEAL TO BOND BUYERS ANY POLITICAL CONTRIBUTIONS MADE TWO YEARS BEFORE AND TWO YEARS AFTER THE FIRM WAS AWARDED THE BOND BUSINESS MESSRS CLAPP AND TAYLOR SAID THE TOUGHER RULE ON CONTRIBUTIONS WAS ADOPTED BY THE MSRB IN RESPONSE TO CONCERNS THAT THE EARLIER RULE WAS TOO IMPRECISE AND COULD BE READ TO COVER EVERY ONE OF THE 450000 PEOPLE ASSOCIATED WITH BOND FIRMS THE COMMENTATORS WANTED MUCH MORE DIRECT INFORMATION ABOUT WHAT THEY CAN AND CAN'T DO MR CLAPP SAID BUT THE RESULTING PROPOSAL MAY BE MORE THAN THE INDUSTRY BARGAINED FOR ESPECIALLY SINCE IT WILL BE FOLLOWED WITHIN A FEW WEEKS BY PROPOSED RULES COVERING GIFTS AND GRATUITIES THE BONDINDUSTRY TRADE GROUP THE PUBLIC SECURITIES ASSOCIATION NEEDS TO SEE MORE DETAILS SAID EXECUTIVE VICE PRESIDENT MICAH GREEN AT FIRST BLUSH HE SAID IT LOOKS LIKE THE MSRB HAS GONE A LONG WAY TOWARD ADDRESSING CONCERNS EXPRESSED BY MARKET PARTICIPANTS LESLIE SCISM IN NEW YORK CONTRIBUTED TO THIS ARTICLE 9311120094 931112 NOTED ECONOMIST FRANCO MODIGLIANI SEES POTENTIAL IN A POSTSCANDAL ITALY BY LISA BANNON STAFF REPORTER OF THE WALL STREET JOURNAL MILAN ECONOMIST FRANCO MODIGLIANI IS BULLISH ON THE ITALIAN ECONOMY BUT HE WARNS THAT OVERZEALOUS INVESTIGATORS COULD HALT THE MOMENTUM OF A PEACEFUL REVOLUTION SWEEPING ITALY ITALIANBORN MR MODIGLIANI RECIPIENT OF THE 1985 NOBEL PRIZE FOR ECONOMICS SAYS THE COUNTRY'S GROWTH COULD OUTPACE THAT OF OTHER EUROPEAN COUNTRIES LATER THIS DECADE ESPECIALLY IF FRANCE AND GERMANY CONTINUE WHAT HE CONSIDERS DISASTROUS CURRENT INTERESTRATE POLICIES ECONOMICALLY THE COUNTRY HAS MADE ENORMOUS STRIDES IN TAKING CARE OF ITS PROBLEMS MR MODIGLIANI SAYS INFLATION IS UNDER CONTROL EXPORTS ARE BOOMING AND WORKERS ARE REASONABLE AND WILL ACCEPT SACRIFICES THE ECONOMIST A PROFESSOR EMERITUS AT MASSACHUSETTS INSTITUTE OF TECHNOLOGY DECIDED TO SPEAK OUT AFTER THE ARREST ON CORRUPTION CHARGES AND THE BRIEF JAILING OF ITALIAN INDUSTRIALIST CARLO DE BENEDETTI WHOM MR MODIGLIANI CONSIDERS AN EXPONENT OF GOOD CAPITALISM MR MODIGLIANI IS A DIRECTOR OF MR DE BENEDETTI'S ING C OLIVETTI & CO OVER THE PAST 21 MONTHS ITALY HAS BEEN WRACKED BY A WIDENING CORRUPTION SCANDAL LEADING TO THE INVESTIGATIONS OR ARRESTS OF SOME 3000 POLITICIANS CIVILSERVICE EMPLOYEES AND MEMBERS OF THE BUSINESS COMMUNITY INVESTIGATORS DISCOVERED A SYSTEMATIC WEB OF CORRUPTION WHEREBY OVER THE PAST 15 YEARS BUSINESSES PAID KICKBACKS TO GOVERNMENT OFFICIALS TO WIN PUBLIC CONTRACTS THE SCANDAL HAS LED TO WIDERANGING POLITICAL AND ECONOMIC REFORM THE SOCALLED PEACEFUL REVOLUTION AND MR MODIGLIANI SEES SPECIFIC ECONOMIC BENEFITS JUST AROUND THE CORNER HE PREDICTS THAT ITALY'S BALLOONING BUDGET DEFICIT WILL SHRINK AND THAT ITS BUDGET WILL SHOW A SURPLUS BY 1995 ASSUMING INTEREST RATES CONTINUE TO FALL IT WOULD BE ONE OF THE ONLY BUDGET SURPLUSES IN THE WORLD HE SAYS HE ATTRIBUTES THE ROSY OUTLOOK TO PRIME MINISTER CARLO CIAMPI'S ECONOMICREFORM MEASURES AND TO A GROUNDBREAKING LABOR ACCORD WITH UNIONS REACHED THIS YEAR THE ONLY THING THAT'S DISAPPOINTING IS THAT ALL THE INSTITUTIONS ARE CRUMBLING I'M PARTICULARLY DISAPPOINTED WITH THE RECENT ATTACK ON THE PRESIDENT OSCAR LUIGI SCALFARO HE SAYS IN THE MIDST OF AN OVERHAUL OF THE ITALIAN SECRET SERVICE SOME FORMER INTELLIGENCE OFFICERS HAVE ACCUSED FOUR TOP GOVERNMENT OFFICIALS INCLUDING THE PRESIDENT OF ACCEPTING ILLEGAL FUNDS HE HAS DENIED THE CHARGES MR MODIGLIANI IS ALSO VERY DISHEARTENED BY THE ARREST OF MR DE BENEDETTI SAYING THE ACTION BY ROME MAGISTRATES SHOWS A FAILURE OF CIVIL LIBERTIES AND CONTINUES A TRADITION OF JAILING PEOPLE WITHOUT BEING TRIED MAGISTRATES HAVE BEEN CRITICIZED FOR THEIR PRACTICE OF JAILING PEOPLE WITHOUT BOND FOR QUESTIONING IN MAY MR DE BENEDETTI VOLUNTARILY ADMITTED TO MILAN PROSECUTORS THAT OLIVETTI PAID MORE THAN 10 BILLION LIRE 61 MILLION IN KICKBACKS TO POSTALMINISTRY OFFICIALS IN THE 1980S TO WIN CONTRACTS TO SUPPLY TYPEWRITERS AND COMPUTER EQUIPMENT MR DE BENEDETTI DESCRIBED A CLIMATE WHERE BUSINESSES WERE FORCED TO PAY THE BRIBES IN ORDER TO WIN SUCH CONTRACTS SO HE MAINTAINED HE WAS A VICTIM OF EXTORTION MILAN MAGISTRATES DECIDED AT THE TIME NOT TO ARREST MR DE BENEDETTI HOWEVER WHEN THE CASE WAS TRANSFERRED TO ROME OVER THE SUMMER INVESTIGATORS THERE CHARGED THAT MR DE BENEDETTI ACTIVELY SOLICITED BUSINESS THROUGH BRIBERY A MORE SERIOUS CHARGE THAN BEING A VICTIM OF EXTORTION HE WAS JAILED NOV 2 BUT LATER RELEASED SUCH ACTIONS ARE WRECKING THE ONLY INSTITUTIONS LEFT THAT PEOPLE RESPECT IN ITALY MR MODIGLIANI SAYS THE PROGRAM TO FERRET OUT CORRUPTION OPERATION CLEAN HANDS HAS DONE A VERY GOOD JOB HE SAYS BUT NOW HE FEELS THEY'RE GOING OVERBOARD AND RUINING THEIR IMAGE MR MODIGLIANI ALSO ADVOCATES NEW ELECTIONS AS SOON AS AN ELECTORALREFORM BILL IS FINISHED AND THE 1994 BUDGET IS PASSED THE PRESENT PARLIAMENT MUST BE TERMINATED AS QUICKLY AS POSSIBLE HALF OF IT IS DISCREDITED BY THE ALLEGATIONS MADE AGAINST MANY OF ITS MEMBERS HE SAYS AS FOR THE NEXT GOVERNMENT MR MODIGLIANI IS OPTIMISTIC THAT A CENTRIST COALITION CAN BE FORMED FROM FACTIONS OF FORMER POLITICAL PARTIES NOBODY KNOWS HOW IT WILL END BUT THE MIDDLE GROUND HAS ALWAYS BEEN THE STRENGTH IN ITALY HE SAYS HE ALSO SAYS THAT A FEDERALIST PLATFORM PROPOSED BY THE NORTHERN LEAGUE PARTY COULD SET THE COUNTRY'S POLITICAL DIRECTION THE PARTY ADVOCATES INCREASED POWERS OF TAXATION SPENDING AND BUDGETING FOR THE COUNTRY'S 20 REGIONS I'M IN FAVOR OF SOME DECENTRALIZATION WHERE EACH REGION CAN SPEND WHAT IT WANTS IF IT CAN COLLECT THE MONEY HE SAYS NO MATTER WHAT HAPPENS IN THE NEXT ELECTION MR MODIGLIANI IS HOPEFUL ABOUT INVESTMENTS IN ITALY THERE IS NO DANGER THAT CONTROLS ON CAPITAL MOVEMENT WOULD EVER BE REINSTATED HE SAYS ITALY IS ON THE VERGE OF A POSITIVE TRANSFORMATION HE SAYS PROVIDED THAT UNFOUNDED ACCUSATIONS DON'T SUCCEED IN DISCREDITING ITS INSTITUTIONS THERE'S THE POSSIBILITY OF A GREAT LEAP FORWARD AND I COUNT ON MY FRIENDS IN GOVERNMENT AND OUTSIDE TO WARD OFF THE DANGER OF REGRESSING INCONCLUSIVELY 9311120093 931112 LETTERS TO THE EDITOR FREE TRADE NO MAGIC JUST COMMON SENSE WITH CONSIDERABLE PRIDE I HOLD A SEAT ON THE TOWN BOARD OF ONE OF THE OLDEST TOWNS IN AMERICA WHERE MY DAY IS FILLED WITH LOCAL MATTERS IMPORTANT TO PEOPLES' DAILY LIVES IT IS WHAT I WAS ELECTED TO DO AND I WORK HARD AT IT IT IS NOT OFTEN THAT A TOWN COUNCILMAN WRITES ON THE MATTER OF AN AGREEMENT BETWEEN NATIONS IN FACT IT IS ENTIRELY POSSIBLE THAT NO MEMBER OF OUR TOWN BOARD HAS WRITTEN A LETTER CONCERNING FOREIGN AFFAIRS SINCE 1776 NEVERTHELESS I FEEL MOVED TO EXPRESS MY VIEW AND TO TAKE A PUBLIC STAND ON A MATTER CURRENTLY BEFORE CONGRESS THE NORTH AMERICAN FREE TRADE AGREEMENT IS TO BE VOTED UP OR DOWN IN THE HOUSE BY MONTH'S END I AM CONVINCED THAT IF IT PASSES IT WILL MEAN JOBS AND LOTS OF THEM FOR OUR COUNTRY OUR STATE AND OUR TOWN I AM FURTHER CONVINCED THAT IF IT IS VOTED DOWN OUR GREAT NATION WILL BE SENT DOWN THE ROAD OF ECONOMIC ISOLATION AND DECLINE THE CONCEPT OF FREE TRADE AMONG NATIONS IS NOT NEW AND IS NOT COMPLICATED MEN AND WOMEN OF VISION HAVE CHAMPIONED THE CAUSE OF FREE TRADE FROM THE VERY START OF OUR REPUBLIC IT WORKS THIS WAY AS MANUFACTURED GOODS AND AGRICULTURAL PRODUCTS ARE PERMITTED TO GO BACK AND FORTH BETWEEN NEIGHBORING NATIONS UNHINDERED EVERYONE'S PROSPERITY INCREASES IF THE PASSAGE OF THOSE ITEMS IS HINDERED BY IMPOSITION OF TAXES OR TARIFFS PROSPERITY DECREASES IT'S NOT MAGIC IT'S GOOD OLDFASHIONED COMMON SENSE PROSPEROUS MEXICANS BUY MOST ALL THEIR CONSUMER GOODS FROM THE US THAT'S GOOD IT PUTS US TO WORK WE IN TURN BUY CERTAIN ITEMS FROM THEM BECAUSE THERE ARE THINGS THAT THEY CAN PRODUCE CHEAPER THAN WE CAN THAT'S GOOD TOO IT GIVES US BARGAINS AND KEEPS THE GOOD WORKERS OF MEXICO NOT ONLY GAINFULLY EMPLOYED BUT ALSO FAR LESS LIKELY TO ILLEGALLY CROSS OUR BORDERS IN SEARCH OF A BETTER LIFE OUR TOWN AND TOWNS JUST LIKE OURS FROM THE ATLANTIC TO THE PACIFIC FROM THE RIO GRANDE TO CANADA STAND POISED TO BECOME PART OF THE INDUSTRIALIZED WORLD'S LARGEST TRADING BLOC AN OPPORTUNITY THE LIKES OF WHICH WE HAVE NEVER SEEN BEFORE NOW STANDS IN FRONT OF US GREAT COURAGE IS REQUIRED POLITICAL COURAGE PERSONAL COURAGE INTELLECTUAL COURAGE THOSE WHO WOULD VOTE NAFTA DOWN MUST UNDERSTAND THE CONSEQUENCES OF WHAT A NO WOULD MEAN ADVANTAGE WOULD GO TO NATIONS WHO WOULD LIKE TO SEE US AS LESS THAN COMPETITIVE WHO WANT TO SEE US FAIL JAPAN OR CHINA OR OTHERS WOULD STRIKE THE BARGAIN WE DIDN'T AND WITH FRIGHTENING SPEED RIGHT NOW I SEE NO OTHER PLAN NO OTHER PROPOSAL NO OTHER PROSPECT FOR JOB CREATION ANYWHERE IN SIGHT THIS IS IT A SIMPLE YES VOTE FROM OUR HOUSE OF REPRESENTATIVES WILL BRING THIS OPPORTUNITY CLOSER TO BEING A REALITY 9311120092 931112 KLOECKNERWERKE AG AGREES TO SELL STAKE IN STEEL OPERATIONS SPECIAL TO THE WALL STREET JOURNAL DUISBURG GERMANY STEEL AND ENGINEERING GROUP KLOECKNERWERKE AG APPROVED THE SALE OF A TWOTHIRDS STAKE IN KLOECKNER STAHL GMBH ITS STEEL OPERATIONS TO A GROUP OF LOCAL BUSINESSES FOR A SYMBOLIC PRICE OF FOUR MARKS 237 KLOECKNER CHAIRMAN HANS CHRISTOPH VON ROHR PREDICTED THAT THE COMPANY'S THREE UNITS MACHINEBUILDING PLASTICS AND STEEL WILL BREAK EVEN IN THE FISCAL 1994 THE STEEL UNIT BROKE EVEN IN OCTOBER AND IS SEEN MAKING A PROFIT THIS YEAR HE ADDED KLOECKNERWERKE HASN'T RELEASED RESULTS FOR THE YEAR ENDED SEPT 30 BUT SAID IN JUNE THAT IT EXPECTED A GROUP LOSS SALES IN THE FIRST HALF WERE DOWN 53 AT 337 BILLION MARKS THE AGREEMENT WITH THE BREMEN CONSORTIUM CAME AFTER DISCUSSIONS WITH TWO OTHER PARTIES INTERESTED IN THE STEEL PLANT WHICH EMPLOYS 4600 AND HAS AN ANNUAL CRUDE STEEL CAPACITY OF THREE MILLION METRIC TONS BREMEN MAYOR KLAUS WEDEMEIER HAILED KLOECKNERWERKE'S DECISION THE SUPERVISORY BOARD'S DECISION SECURES THE FUTURE OF THE PLANT AS AN INTEGRATED STEEL MILL HE SAID REFERRING TO CONCERNS THAT OTHER INVESTORS WOULD HAVE CLOSED MOST OF THE MILL TO ELIMINATE A RIVAL KLOECKNERWERKE BEGAN RESTRUCTURING ITS STEEL UNIT NEARLY A YEAR AGO CUTTING 1400 OF 6000 JOBS ANOTHER 600 JOBS WILL BE ELIMINATED BY THE END OF THIS FISCAL YEAR A COMPANY SPOKESMAN SAID THE GROUP NARROWLY ESCAPED BANKRUPTCY THIS YEAR A DEBTRELIEF SCHEME ALLOWED IT TO WRITE OFF 14 BILLION MARKS NEARLY HALF ITS 27 BILLION MARK DEBT 9311120091 931112 ITALY PHONE CHANGES CLEARED MILAN ITALIAN DOMESTIC TELEPHONE OPERATOR SOCIETA ITALIANA PER L'EXERCIZIO DELLE TELECOMUNICAZIONI SPA SAID THE GOVERNMENT CLEARED THE WAY FOR RESTRUCTURING THE ITALIAN TELECOMMUNICATIONS INDUSTRY THE MOVE WILL CREATE A NEW TELECOMMUNICATIONS UMBRELLA COMPANY TELECOM ITALIA IN A DECREE THE GOVERNMENT TRANSFERRED THE ONLY TELECOMMUNICATIONS COMPANY CONTROLLED BY THE MINISTRY OF POST AND TELECOMMUNICATIONS AZIENDA DI STATO PER I SERVIZI TELEFONICI TO ISTITUTO PER LA RICOSTRUZIONE INDUSTRIALE ALL OTHER TELECOMMUNICATIONS COMPANIES WERE ALREADY GROUPED UNDER IRI 9311120090 931112 ENTERPRISE BY UDAYAN GUPTA FOR SOME STARTUPS IN THE SHOE INDUSTRY SOCIAL RESPONSIBILITY IS AN INTEGRAL PART OF THE BUSINESS PLAN WHEN NEW YORK BANKER TOM COLEMAN STARTED THE AERIAL ASSAULT SHOE COMPANY IN 1991 THE DECISION TO DONATE 5 OF PRETAX PROFIT TO THE UNITED NEGRO COLLEGE FUND AND THE URBAN LEAGUE WAS NATURAL BASED ON THE URBAN MARKETS THAT AERIAL ASSAULT PLANNED TO TARGET IT WAS IMPORTANT WE FIND A WAY TO GIVE SOME MONEY BACK TO THE CITIES AND THE KIDS SAYS MR COLEMAN WITH 33 MILLION IN SALES LAST YEAR AND FLAT SALES GROWTH EXPECTED THIS YEAR AERIAL ASSAULT ELMSFORD NY SAYS IT ISN'T YET PROFITABLE EVEN SO IT GIVES AWAY SHOES TO INNERCITY SCHOOLS AND ATHLETIC GROUPS DEJA SHOES PORTLAND ORE GIVES 5 OF ITS PRETAX PROFIT TO THE SPECIES SURVIVAL COMMISSION A UNIT OF THE SWITZERLANDBASED WORLD CONSERVATION UNION AND A GROUP THAT WORKS TO PROTECT ENDANGERED PLANTS MOREOVER ALL OF ITS SHOES ARE MADE FROM RECYCLED PRODUCTS THESE INCLUDE USED CLOTHING AND BLANKETS COTTON CANVAS THE LEFTOVER MATERIAL FROM DIAPER MAKING AND USED TIRES FOR ALL THEIR STRANGE COMPONENTS THE SHOES DON'T LOOK MUCH DIFFERENT FROM THE ONES REGULARLY PROMOTED BY STAR ATHLETES DEJA'S SHOES NOW COME IN 16 VARIETIES AND ARE SOLD ALL OVER NORTH AMERICA THROUGH CATALOGS AND MAJOR RETAILSTORE CHAINS STILL THE VENTURE HAS BEEN A MIXED BAG SAYS BRUCE MCGREGOR CHIEF EXECUTIVE OFFICER EVEN THOUGH THE SHOES HAVE SOLD WELL AMONG A GROUP THAT RANGES FROM HIGHSCHOOL STUDENTS TO 45YEAROLDS THE LOGISTICS OF PROCURING AND USING RECYCLED MATERIAL HAVE BEEN A CHALLENGE HE SAYS DEJA HAD TO GO THROUGH ONE FULL MANUFACTURING AND SALES CYCLE TO UNDERSTAND THE DIFFICULTIES HE SAYS HIS DAUGHTER'S DRUG ADDICTION CREATES A DRUGCOUNSELING VENTURE FOR A CONCERNED FATHER TOGETHER WITH HIS DAUGHTER WHO GOT INTO TROUBLE WITH DRUGS AT AGE 18 FORMER INTERNATIONAL BUSINESS MACHINES EXECUTIVE BILL OLIVER BECAME A REGULAR VISITOR TO THE ANNUAL CONFERENCES OF PARENTS RESOURCE INSTITUTE FOR DRUG EDUCATION OR PRIDE BUT HE WASN'T SATISFIED WITH THE INSPIRATIONAL MESSAGES HE CAME AWAY WITH I WANTED SOME SOLUTIONS HE SAYS SO IN THE LATE 1980S HE FORMED HIS OWN MARIETTA GA FORPROFIT COMPANY TO DEVELOP A VIDEOBASED TRAINING PROGRAM THAT WOULD PROVIDE WAYS FOR PARENTS TO DEAL WITH THE PROBLEMS OF THEIR CHILDREN'S DRUG ADDICTION HE ALSO DESIGNED WRITTEN AND VISUAL MATERIAL TO HELP GROUPS UTILIZE THE TAPE MORE EFFECTIVELY AND HE FORMED A JOINT VENTURE WITH PRIDE TO MARKET AND DISTRIBUTE THE PROGRAM SINCE 1988 HE SAYS HE HAS SOLD MORE THAN 1000 PROGRAMS AT 6500 EACH THE TRAINING PROGRAM HAS HAD ITS GREATEST SUCCESS AMONG SCHOOLS COMMUNITY GROUPS AND MENTALHEALTH ASSOCIATIONS BUT SMALL BUSINESSES HAVE BEGUN TO USE IT TOO RATHER THAN SIMPLY FERRET OUT DRUG USERS MANY COMPANIES ARE BEGINNING TO FOCUS THEIR ANTIDRUG EFFORTS ON THE NONUSERS BY TRAINING FELLOW EMPLOYEES TO BE INTOLERANT OF DRUG USE IT MAY BE EASIER TO COMBAT THE PROBLEM THAN BY TRYING TO FIND TELLTALE SIGNS OF DRUG USE MR OLIVER SAYS FOR A STRUGGLING CARD COMPANY CAUSERELATED MESSAGES HELP TURN THE CORNER IN 1987 WHEN BRUCE WILSON TOOK OVER AS PRESIDENT AND CHIEF FINANCIAL OFFICER OF THE FORMER CAROLYN BEAN PUBLISHING THEN IN HAYWARD CALIF THE CARD COMPANY WAS STRUGGLING WITH A CONFUSING RANGE OF CARDS THE COMPANY SAYS IT COULDN'T COMPETE WITH THE LIKES OF INDUSTRY LEADERS AMERICAN GREETINGS AND HALLMARK CARDS STILL MR WILSON WAS CONFIDENT OF FINDING A NICHE HE FORGED AN ALLIANCE WITH THE SIERRA CLUB TO EXCLUSIVELY USE ITS LOGO ON HIS CARDS AND BEGAN TO DISCARD CARDS THAT DIDN'T FIT THE ENVIROMENTAL THEME IN RETURN THE CONSERVATION GROUP RECEIVED A ROYALTY THE SIERRA CLUB RELATIONSHIP GAVE US AN IDENTITY WE COULDN'T HAVE HAD BY BEING JUST ANOTHER GENERIC CARD MAKER MR WILSON EXPLAINS BUT IT TOOK TIME TO WEAN CUSTOMERS AWAY FROM THE GENERIC MATERIAL HE SAYS FINALLY LAST YEAR THE STRATEGY BEGAN TO PAY OFF CAROLYN BEAN REPORTED NET INCOME OF 680000 ON SALES OF 29 MILLION THIS YEAR THE COMPANY HAS TAKEN A MORE AGRESSIVE STEP TOWARD BOLSTERING ITS IMAGE AS A CAUSERELATED CARD MAKER WHEN IT MOVED TO PETALUMA CALIF IT CHANGED ITS NAME TO HEALTHY PLANET PRODUCTS IN JANUARY IT WILL ADD TO ITS SIERRA CLUB OFFERINGS BY INTRODUCING THREE NEW LINES OF CARDS FOCUSING ON THE ENVIRONMENT AND AS MUCH AS 5 OF THE PROCEEDS FROM SALES WILL GO TO SUCH GROUPS AS THE HUMANE SOCIETY OF THE US WASHINGTON CALIFORNIA'S MARINE MAMMAL CENTER AND THE NATURE CONSERVANCY WASHINGTON AFTER RETIRING A FLORIDA WOMAN STARTS A SECOND LIFE RUNNING AN ENVIRONMENTALLY FRIENDLY CLEANING COMPANY HAVING RUN A REALESTATE AGENCY AND A SMALL MARKETING FIRM FRAN VOGT WANTED TIME TO SMELL THE ROSES INSTEAD A GREEN EUROPEAN CLEANING SYSTEM HAS GOT HER BACK IN BUSINESS MS VOGT 56 FIRST SAW THE CLEANING SYSTEM BEING USED BY SOME EUROPEAN BOAT OWNERS AT A FORT LAUDERDALE MARINA TWO YEARS AGO WHAT CAUGHT HER ATTENTION WAS THAT THE SYSTEM USES NO CHEMICALS OR TRADITIONAL SOAPS AND IT IS NONTOXIC IT WORKS BY HEATING WATER AND THEN USING THE RESULTING STEAM TO CLEAN AT HIGH PRESSURE SHE ACQUIRED US MARKETING RIGHTS FROM THE DEVICE'S ITALIAN MANUFACTURER AND FORMED A FORT LAUDERDALE COMPANY ROBBY USA TO HANDLE SALES MS VOGT SAYS THE COMPANY LAST YEAR SOLD MORE THAN 2000 OF THE DEVICES CALLED ROBBY AT 2000 EACH TO HEALTHCARE FACILITIES RESTAURANTS FASTFOOD CHAINS AND SCHOOLS THIS YEAR SHE SAYS ROBBY SALES WILL EXCEED 4000 UNITS 9311120089 931112 INTERNATIONAL WORLD WIRE COMPILED BY RICHARD L HOLMAN BRITAIN'S NEW RAILROAD LINK FROM LONDON TO THE EAST COAST PROBABLY WON'T BE COMPLETED UNTIL THE YEAR 2002 FURTHER DELAYING THE HIGHSPEED SERVICE CONNECTIONS WITH THE TUNNEL UNDER THE BRITISH CHANNEL THAT IS TO OPEN NEXT MAY THE SETBACK CAME AS A BRITISH GOVERNMENT PLAN STRETCHED OUT THE TIMETABLE THE TRANSPORT MINISTRY UNVEILED A GOVERNMENTPRIVATE SECTOR FINANCING PROGRAM FOR THE 68MILE RAIL LINE BUT THE PRECISE ROUTE AND FUNDING ARRANGEMENTS WON'T BE COMPLETED UNTIL THE MIDDLE OF NEXT YEAR THEN PARLIAMENTARY APPROVAL IS EXPECTED TO TAKE AT LEAST TWO YEARS FOLLOWED BY FIVE YEARS OF CONSTRUCTION THE DELAY FOR BRITAIN COMES AS FRANCE AND BELGIUM ARE UPGRADING CHUNNEL RAIL LINKS IN THEIR COUNTRIES IN THE MEANTIME TRAINS ON THE BRITISH SIDE OF THE TUNNEL WILL RUN ON EXISTING TRACKS AT SPEEDS OF LESS THAN 100 MILES PER HOUR COMPARED WITH 180 MPH ON LINES BEING PREPARED IN FRANCE ILLUSTRATING RURAL RUSSIANS' REPUTATION FOR HEAVY DRINKING SIBERIANS IN THE EASTERN BAIKAL REGION DOWN AN AVERAGE OF 32 GALLONS OF VODKA A YEAR ALCOHOLIC BEVERAGE SALES THERE IN THIS YEAR'S FIRST HALF TOTALED 38 MILLION MORE THAN THE COMBINED TOTAL FOR MEAT MILK AND FRUIT IN THE AREA INCLUDING THE CITY OF CHITA ALCOHOL CONSUMPTION JUMPED 50 IN THE PAST THREE YEARS WHILE SOFTDRINK OUTPUT PLUNGED 94 AFTER DRINKING ADULTERATED SPIRITS MORE THAN 300 PEOPLE DIED IN THE CHITA REGION THIS YEAR DRUNKEN DRIVERS CAUSED 85 ACCIDENTS AND 181 DEATHS IN THE FIRST SIX MONTHS ALMOST 3000 DISABLED CHILDREN WERE BORN TO ALCOHOLIC PARENTS LAST YEAR JAPAN WILL IMPORT AN ADDITIONAL 900000 TONS OF RICE IN THE FISCAL YEAR ENDING MARCH 31 THE FOOD AGENCY SAID THE GOVERNMENT WHICH LAST MONTH UNVEILED PLANS TO IMPORT 200000 TONS OF THE STAPLE GRAIN MAINTAINED THAT THE PURCHASES ARE A ONETIME EXCEPTION TO JAPAN'S BAN ON FOREIGN RICE BECAUSE OF A COOL RAINY SUMMER JAPAN'S RICE HARVEST THIS YEAR IS EXPECTED TO BE THE WORST SINCE WORLD WAR II JAPAN HAS ANGERED ITS RICEGROWING TRADING PARTNERS BY INSISTING THAT IT MUST MAINTAIN SELFSUFFICIENCY IN ITS STAPLE FOOD SOUTH AFRICA'S THIRDQUARTER GROSS DOMESTIC PRODUCT GREW AT AN INFLATIONADJUSTED ANNUAL RATE OF 82 FROM THE PREVIOUS QUARTER WHEN THE PACE WAS 51 FOLLOWING CONTRACTIONS ALL LAST YEAR THE TURNAROUND BEGAN WITH A 14 GROWTH RATE IN THE 1993 FIRST QUARTER THIS YEAR'S STEADY GROWTH CONTINUED IN AGRICULTURAL PRODUCTION WHICH ALMOST TRIPLED IN THE LATEST PERIOD FOLLOWING LAST YEAR'S DROUGHT OTHER STANDOUT SECTORS INCLUDED MANUFACTURING ELECTRICITY AND TRANSPORT NONETHELESS GDP FOR THIS YEAR'S FIRST NINE MONTHS WAS 04 LOWER THAN A YEAR EARLIER RUSSIA'S IMMIGRATION AGENCY CALLED FOR INTRODUCTION OF A VISA SYSTEM SAYING THE COUNTRY THIS YEAR HAS TAKEN IN TWO MILLION PEOPLE FROM OTHER FORMER SOVIET REPUBLICS THE FEDERAL MIGRATION SERVICE SAID SIX MILLION MORE PEOPLE COULD FLOOD INTO RUSSIA IN THE NEXT TWO YEARS FURTHER STRAINING THE ECONOMY LARGE NUMBERS OF RUSSIANS HAD MOVED TO OTHER COUNTRIES IN THE WAKE OF THE RUSSIAN IMPERIAL AND SOVIET ARMIES AND MILLIONS WERE STRANDED IN NEWLY INDEPENDENT COUNTIES AFTER THE BREAKUP OF THE SOVIET UNION IN 1991 QATAR A COOWNER OF GULF AIR PLANS TO START ITS OWN AIRLINE THE PERSIAN GULF STATE'S AVIATION AGENCY AGREED TO ISSUE THE LICENSE AND A MEMBER OF QATAR'S RULING FAMILY WAS NAMED MANAGING DIRECTOR OFFICIALS DIDN'T SPECULATE HOW THE NEW CARRIER WILL AFFECT BUSINESS FOR GULF AIR THE REGION'S BIGGEST AIRLINE THAT ALSO IS OWNED BY BAHRAIN OMAN AND ABU DHABI THE NEW AIRLINE PLANS INTERNATIONAL ROUTES ADDING COMPETITION TO GULF AIR AND OMAN AVIATION PREVIOUSLY A DOMESTIC CARRIER THE 186 BILLION IN AID PLEDGED TO VIETNAM NEXT YEAR BY MOST DEVELOPED COUNTRIES EXCEEDS THE GOVERNMENT'S GOAL AND ADDS PRESSURE ON THE US TO LIFT ITS ECONOMIC EMBARGO AGAINST THE COUNTRY THE MONEY FROM ABOUT 20 COUNTRIES AND A DOZEN INTERNATIONAL AGENCIES WILL HELP PAY FOR DEVELOPMENT AND INFRASTRUCTURE PROJECTS AS THE SOUTHEAST ASIAN NATION TRIES TO SET UP A MARKET ECONOMY THE PLEDGES AT A PARIS MEETING CAME ON THE HEELS OF VIETNAM'S NORMALIZATION OF RELATIONS LAST MONTH WITH THE INTERNATIONAL MONETARY FUND WORLD BANK AND ASIAN DEVELOPMENT BANK AFTER THE US UNTIED THE HANDS OF ALLIES AND MULTINATIONAL LENDERS ON THE ISSUE BUT US COMPANIES BARRED BY THE 29YEAROLD EMBARGO FROM DOING BUSINESS IN VIETNAM ARE EXPECTED TO LOBBY HARDER FOR DROPPING THE BAN AND REMOVING THEIR COMPETITIVE DISADVANTAGE RICH DONOR NATIONS ONLY INCREASED AID TO VIETNAM OVER THE PAST YEAR AFTER THE US EASED EMBARGO RULES PRESIDENT CLINTON HAS LINKED IMPROVED TIES TO RESULTS IN ACCOUNTING FOR US MILITARY PERSONNEL MISSING SINCE THE VIETNAM WAR JAPAN'S STOCKMARKET REGULATOR SET UP A SPECIAL PANEL TO STUDY HOW TO LET COMPANIES BUY THEIR OWN SHARES LEGISLATION COULD BE INTRODUCED NEXT YEAR TO ALLOW BUYBACKS NOW BARRED IN MOST CASES BELARUS PLANS TO BAN USE OF THE RUSSIAN RUBLE WHICH CIRCULATES ALONGSIDE THE BELARUS PAYMENT CERTIFICATE BUT DIDN'T SET A DATE FOR THE CURRENCY TO BECOME THE ONLY LEGAL TENDER IN THE FORMER SOVIET REPUBLIC 9311120088 931112 WHY CANCER NEWS IS A HEALTH HAZARD BY S ROBERT LICHTER HEART DISEASE MAY CAUSE MORE DEATHS BUT CANCER IS THE DISEASE AMERICANS DREAD MOST IT IS ALSO HIGHLY NEWSWORTHY THIS YEAR THE NETWORK EVENING NEWSCASTS HAVE AIRED MORE STORIES ABOUT CANCER THAN ANY OTHER HEALTH PROBLEM INCLUDING AIDS THE MOST RECENT BURST OF PUBLICITY ACCOMPANIED THE ENVIRONMENTAL PROTECTION AGENCY'S PLAN TO OVERHAUL THE FOOD SAFETY LAWS INCLUDING NEW STANDARDS FOR BANNING CANCERCAUSING PESTICIDES FROM PROCESSED FOODS OTHER HEAVILY REPORTED CONTROVERSIES IN RECENT MONTHS INCLUDE THE ALLEGED CANCER RISKS OF POWER LINES CELLULAR TELEPHONES SECONDHAND TOBACCO SMOKE AND PESTICIDES INGESTED BY CHILDREN BUT IS MORE NEWS BETTER NEWS HOW WELL DO THE MEDIA COMMUNICATE THE DANGER OF CANCERCAUSING AGENTS IN THE ENVIRONMENT DO WE GET THE INFORMATION WE NEED TO MINIMIZE THIS WIDELY FEARED HEALTH RISK THESE QUESTIONS ARE ANYTHING BUT ABSTRACT THEY ARISE EVERY TIME WE SEE ANOTHER STORY WARNING ABOUT THE DANGERS OF ALAR ON OUR APPLES EDB IN OUR BREAKFAST CEREAL ARTIFICIAL SWEETENERS IN OUR SODA POP OR ASBESTOS IN THE BUILDINGS WHERE WE LIVE AND WORK THE REPORTS TYPICALLY INCLUDE CONFLICTING CLAIMS FROM ENVIRONMENTALISTS MANUFACTURERS AND GOVERNMENT OFFICIALS IDEALLY WE COULD RELY ON SCIENTIFIC EXPERTISE TO SORT THINGS OUT BUT EACH SIDE USUALLY HAS ITS OWN EXPERTS SOME OF WHOM EXHIBIT MORE SKILL WITH SOUND BITES THAN WITH SCIENTIFIC EVIDENCE HOW CAN THE ORDINARY CITIZEN DECIDE WHICH MEDIASANCTIONED EXPERTS TO TRUST TO FIND OUT A CENTER FOR MEDIA AND PUBLIC AFFAIRS RESEARCH TEAM DIRECTED BY SMITH COLLEGE POLITICAL SCIENTIST STANLEY ROTHMAN COMPARED THE OPINIONS OF A CROSSSECTION OF CANCER EXPERTS WITH THE INFORMATION APPEARING IN MAJOR MEDIA OUTLETS TO DETERMINE EXPERT OPINION THE TEAM SURVEYED 400 RANDOMLY SELECTED MEMBERS OF THE AMERICAN ASSOCIATION FOR CANCER RESEARCH THE AVERAGE MEMBER INTERVIEWED HAS PUBLISHED MORE THAN 50 SCHOLARLY ARTICLES ON THE CAUSES OR PREVENTION OF CANCER THE TEAM ANALYZED EVERY STORY ABOUT CANCER CAUSATION THAT APPEARED FROM 1972 THROUGH 1992 ON THE ABC CBS AND NBC EVENING NEWSCASTS IN TIME NEWSWEEK AND US NEWS AND WORLD REPORT AND ON THE FRONT PAGE OF ANY SECTION OF THE NEW YORK TIMES THE WASHINGTON POST AND THE WALL STREET JOURNAL THE ENVIRONMENTAL FACTORS STRESSED BY THE CANCER EXPERTS DIFFERED SHARPLY FROM THE DANGERS THAT WE READ OR HEAR ABOUT MOST FREQUENTLY THE SCIENTISTS WERE ASKED TO RATE 30 ENVIRONMENTAL FACTORS ON A SCALE FROM ZERO TO 10 ACCORDING TO HOW MANY CANCERS EACH CAUSED NINETYSIX PERCENT RATED TOBACCO SMOKE AS A MAJOR CAUSE OF CANCER DEFINED AS A RATING OF SEVEN OR HIGHER ASBESTOS WAS NAMED AS A MAJOR FACTOR BY 56 SUNLIGHT BY 54 AND DIETARY CHOICES BY 52 BUT ONLY 26 OF THE SCIENTISTS EXPRESSED THAT LEVEL OF CONCERN ABOUT EITHER AIR AND WATER POLLUTION OR HERBICIDES AND PESTICIDES AND ONLY 7 CONSIDERED EITHER NUCLEAR POWER OR CHEMICALS IN THE HOME TO BE MAJOR CANCER RISKS CONVERSELY THE FACTORS THAT MOST EXPERTS REGARDED AS ONLY MINOR CANCER AGENTS WITH RATINGS FROM ZERO TO THREE INCLUDED FOOD ADDITIVES AND PRESERVATIVES 57 HOUSEHOLD CHEMICALS 62 AND NUCLEAR POWER 73 THESE RESULTS STAND IN SHARP CONTRAST TO THE MEDIADRIVEN CANCER SCARES THAT LED RESIDENTS TO EVACUATE LOVE CANAL AND TIMES BEACH AFTER TRACES OF DIOXIN WERE DISCOVERED THERE FORCED GROCERS TO PULL BREAKFAST CEREALS OFF THEIR SHELVES TO AVOID EDB CONTAMINATION AND PANICKED CONSUMERS INTO THROWING OUT APPLESAUCE FOR FEAR OF ALAR IN FACT THE EXPERTS DESCRIBED ALL THREE OF THESE NOTORIOUS CHEMICALS AS CAUSING FEWER CANCERS THAN AFLATOXIN A FUNGUS FOUND IN PEANUT BUTTER AS THESE EXAMPLES SUGGEST THE MEDIA HAVE PAID FAR MORE ATTENTION TO MANMADE CHEMICALS THAN TO ANY OTHER CATEGORY OF CARCINOGEN INCLUDING TOBACCO THEY ALSO HAVE GIVEN HEAVY COVERAGE TO THE CANCER RISKS OF FOOD ADDITIVES POLLUTION RADIATION PESTICIDES AND HORMONE TREATMENTS NEWS STORIES TARGETED ALL THESE SUBSTANCES AS CANCER AGENTS MORE OFTEN THAN DIET SUNLIGHT AND ASBESTOS INDEED FOOD ADDITIVES WERE NAMED AS CARCINOGENS AS OFTEN AS DIET AND SUNLIGHT COMBINED MOREOVER THE COVERAGE FAILED TO REFLECT EXPERT OPINION ON SEVERAL HIGHLY VISIBLE CONTROVERSIES ABOUT CANCER CAUSATION FOR EXAMPLE SIX OUT OF SEVEN SOURCES QUOTED IN THE MEDIA AGREED THAT THE US FACES A CANCER EPIDEMIC AN OPINION SHARED BY FEWER THAN ONE IN THREE SCIENTISTS 31 IN THE SURVEY TWO OUT OF THREE NEWS SOURCES ARGUED THAT CANCERCAUSING AGENTS ARE UNSAFE AT ANY DOSE WHILE TWO OUT OF THREE SCIENTISTS REJECTED THIS VIEW SIMILARLY 63 OF THE SCIENTISTS REJECTED THE GOVERNMENTMANDATED METHOD OF ASSESSING HUMAN CANCER RISKS BY ADMINISTERING EXTREMELY HIGH DOSES OF SUSPECTED CARCINOGENS TO ANIMALS BY CONTRAST FULLY HALF OF THE MEDIA SOURCES AGREED THAT THIS IS A GOOD WAY TO ESTABLISH HUMAN RISKS THE DISJUNCTION BETWEEN EXPERT OPINION AND MEDIA ATTENTION HAS NOT ESCAPED THE NOTICE OF THESE RESEARCHERS WHO STRONGLY CRITICIZED THE WAY THE NEWS PORTRAYS CANCER RISKS MAJORITIES HELD THAT THE MEDIA OVERSTATE THE RISKS ASSOCIATED WITH NUCLEAR POWER 61 POLLUTION 54 AND FOOD ADDITIVES 53 PLURALITIES FELT THE SAME WAY ABOUT COVERAGE OF PESTICIDES AND CHEMICALS CONSISTENT WITH THESE CRITICISMS MANY EXPRESSED DOUBT ABOUT THE RELIABILITY OF NATIONAL MEDIA ACCOUNTS ONLY 22 OF THE SCIENTISTS RATED THE NEW YORK TIMES AS A HIGHLY RELIABLE SOURCE OF INFORMATION ON ENVIRONMENTAL CANCER ONLY 9 TRUSTED THE NEWS MAGAZINES ONLY 6 BELIEVED THE NETWORK NEWS DEPARTMENTS BY COMPARISON 54 RATED SCIENTIFIC AMERICAN AS HIGHLY RELIABLE PRESUMABLY CANCER EXPERTS HOLD THE NATIONAL MEDIA IN SUCH LOW ESTEEM BECAUSE THE MEDIA'S TREATMENT OF ENVIRONMENTAL CANCER ACCORDS SO POORLY WITH THEIR OWN UNDERSTANDING OF THEIR FIELD BUT HOW COULD SUCH A DISPARITY COME ABOUT ONE LIKELY REASON IS THAT MANY EXPERT SOURCES WHO SHOW UP FREQUENTLY IN THE NEWS ARE NOT HIGHLY REGARDED BY THE SCIENTIFIC COMMUNITY FOR EXAMPLE THE LOWEST REPUTATIONAL RATINGS WENT TO TWO SCIENTISTS WHO WERE AMONG THE 10 MOST FREQUENTLY QUOTED SCIENTISTS IN THE NATIONAL MEDIA SIDNEY WOLFE WHO ATTAINED A HIGH PUBLIC PROFILE AS LONGTIME HEAD OF THE RALPH NADERAFFILIATED CENTER FOR SCIENCE IN THE PUBLIC INTEREST AND MEDICAL RESEARCHER SAMUEL EPSTEIN ANOTHER PROMINENT CRITIC OF MANMADE CHEMICALS EACH RECEIVED A HIGH CONFIDENCE RATING FROM ONLY 25 OF ALL CANCER RESEARCHERS SURVEYED THE HIGHEST CONFIDENCE RATING 67 OF THOSE SURVEYED WENT TO BERKELEY BIOCHEMIST BRUCE AMES WHOSE RESERVATIONS ABOUT THE CARCINOGENIC EFFECTS OF SYNTHETIC SUBSTANCES SEEM CLOSER TO THE MAINSTREAM AMONG CANCER RESEARCHERS THIS IS NOT TO SAY THAT SCIENTIFIC EXPERTS ARE ALWAYS RIGHT OR THAT THEIR OPINIONS OUTWEIGH ALL OTHER FACTORS BUT THEIR VIEWS ARE AN INVALUABLE RESOURCE FOR POLICY MAKERS AND INDIVIDUAL CITIZENS CONCERNED WITH MINIMIZING HEALTH RISKS IN A COMPLEX ENVIRONMENT SO LONG AS THE MEDIA REPORT THOSE VIEWS INACCURATELY THE INFORMATION ENVIRONMENT MAY BE HAZARDOUS TO OUR HEALTH MR LICHTER IS CODIRECTOR OF THE WASHINGTONBASED CENTER FOR MEDIA AND PUBLIC AFFAIRS A NOV 12 EDITORIAL PAGE ARTICLE BY S ROBERT LICHTER INCOMPLETELY DESCRIBED THE SPONSORSHIP OF THE STUDY MENTIONED IT WAS COSPONSORED BY THE CENTER FOR SCIENCE TECHNOLOGY & MEDIA IN ADDITION THE ARTICLE INCORRECTLY IDENTIFIED THE AFFILIATION OF DR SIDNEY WOLFE HE IS DIRECTOR OF THE PUBLIC CITIZEN HEALTH RESEARCH GROUP 9311120087 931112 NEW JERSEY'S BAN ON TELEMARKETING MAY STALL IN COURT NEWARK NJ A FEDERAL JUDGE HERE WILL DECIDE NEXT WEEK WHETHER TO TEMPORARILY PREVENT FROM TAKING EFFECT A NEW JERSEY STATE LAW THAT WOULD BAN AUTOMATED TELEMARKETING CALLS FOR COMMERCIAL PURPOSES THE LAW WHICH HAD BEEN SCHEDULED TO TAKE EFFECT SATURDAY PROHIBITS BUSINESSES FROM MARKETING THEIR PRODUCTS IN THE STATE USING AUTOMATED DIALING ANNOUNCEMENT DEVICES UNLESS IT HAS PERMISSION TO PLAY THE RECORDED SALES PITCH THE STATE LAW IS BEING CHALLENGED BY TWO PEOPLE WHO SELL CEMETERY PLOTS USING AUTOMATED TELEMARKETING AS WELL AS THE NATIONAL ASSOCIATION OF TELECOMPUTER OPERATORS A TRADE GROUP BASED IN OREGON US DISTRICT COURT JUDGE HAROLD ACKERMAN HAS RESERVED A DECISION UNTIL NEXT WEEK ON WHETHER TO GRANT A PRELIMINARY INJUNCTION AGAINST THE LAW'S ENFORCEMENT AND THE STATE'S ATTORNEY GENERAL HAS AGREED TO DELAY ENFORCEMENT UNTIL THURSDAY MICHAEL LAMPERT AN ATTORNEY FOR THE PLAINTIFFS SAID STATE OFFICIALS COULDN'T BE REACHED TO COMMENT BECAUSE OF THE VETERANS DAY HOLIDAY THE AUTOMATED TELEMARKETERS ARE ARGUING THE STATE LAW VIOLATES THEIR RIGHTS OF FREE SPEECH BECAUSE IT DOESN'T PROHIBIT THE USE OF THE DEVICES FOR CHARITABLE AND POLITICAL PURPOSES THEY ALSO ARGUE THAT BECAUSE IT ALLOWS OTHER FORMS OF TELEMARKETING BY HUMAN OPERATORS THE LAW UNFAIRLY TARGETS SMALL BUSINESS OWNERS WHO RELY HEAVILY ON AUTOMATION BECAUSE IT IS LESS LABOR INTENSIVE IN ADDITION THE PLAINTIFFS SAY THE STATE LAW IS PREEMPTED BY A FEDERAL LAW THE TELEPHONE CONSUMER PROTECTION ACT WHICH ADDRESSES AUTOMATED TELEMARKETERS 9311120086 931112 LEISURE & ARTS BUSINESS BOOKSHELF LEGACY OF THE BALANCESHEET WARRIORS BY JAMES GRANT IN WORLD WAR II THE OFFICERS OF THE STATISTICAL BRANCH OF THE ARMY AIR CORPS TOOK BASIC TRAINING AT HARVARD BUSINESS SCHOOL RATHER THAN FOR EXAMPLE FORT DIX THEY COUNTED BOMBS INSTEAD OF FLYING IN THE PLANES THAT DROPPED THEM AND THEY MADE BRAVE TO ADVISE GEN CURTIS E LEMAY ON HOW BEST TO EMPLOY HIS FLIGHT CREWS HOW 10 OF THESE BALANCESHEET WARRIORS SUBSEQUENTLY LEFT THEIR MARK ON POSTWAR AMERICAN BUSINESS IS THE SUBJECT OF JOHN A BYRNE'S NEW BOOK IT IS AN ENGROSSING STORY FEATURING THE LIKES OF ROBERT S MCNAMARA WHO WENT ON TO RUN BOTH FORD MOTOR CO AND THE VIETNAM WAR AND CHARLES TEX THORNTON THE ACQUISITIVE FOUNDER OF LITTON INDUSTRIES THE WHIZ KIDS LIVED BY THE NUMBERS ORDNANCE ON HAND FUEL IN THE PIPELINE AND THEIR PRINCIPAL BUSINESS LEGACY IS THE IDEA THAT MANAGEMENT IS A SCIENCE NOT AN ART THE WHIZ KIDS DOUBLEDAY 581 PAGES 2750 AMPLY DEMONSTRATES THAT IT IS BOTH THORNTON AND HIS NINE FRIENDS REENTERED THE PRIVATE SECTOR LATE IN 1945 CASTING ABOUT FOR WORK THEY PERSUADED HENRY FORD II TO HIRE THEM AS A UNIT THEY ASKED FOR AND RECEIVED SPLENDID STARTING SALARIES HAVING MANAGED TO LEAVE A STRONG IMPRESSION THAT THE NATION'S NO 2 AUTO MAKER NEEDED THEM MORE THAN THEY NEEDED IT HOWEVER THE FORD BUREAUCRACY WAS NOT WITHOUT RESOURCES OF ITS OWN ARRIVING AT COMPANY HEADQUARTERS FOR THEIR FIRST DAY ON THE JOB THE WHIZ KIDS WERE SUBJECTED TO A DEMEANING BATTERY OF INTELLIGENCE AND PSYCHOLOGICAL TESTS FOR MEN SO OSTENSIBLY NUMERATE THEY SCORED SURPRISINGLY LOW IN MATH AND SCIENCE UNTIL THE ARRIVAL OF THE THORNTON TEAM MR BYRNE RELATES FORD WAS NO PLACE FOR A COLLEGE MAN AMONG SEVERAL HUNDRED TOP EXECUTIVES PERHAPS TWO HELD DEGREES ONE OF THE FOUNDER'S MOST FAITHFUL AND TRUSTED EMPLOYEES HARRY BENNETT HEAD OF THE COMPANY'S PRIVATE POLICE FORCE HAD A BACKGROUND IN BRAWLING THE PROTAGONISTS OF MR BYRNE'S STORY INCLUDE THE FORD AUTOMOBILES OF THE 1950S AND EARLY '60S AMONG THEM THE DISASTROUS EDSEL AND THE BESTSELLING FALCON THE F111 JET FIGHTER THE AIRBORNE EDSEL OF THE MCNAMARA DEFENSE DEPARTMENT RECEIVES ONLY PASSING NOTICE BUT THE MERCURY TURNPIKE CRUISER THE BRAINCHILD AND DOWNFALL OF A WHIZ KID NAMED FRANCIS C REITH IS DEALT WITH IN DETAIL AS RICH AS THAT OF THE AUTOMOBILE'S CHROME AS AN ACCOUNT OF THE EVOLUTION OF THE MODERN AMERICAN CORPORATION MR BYRNE'S BOOK USEFULLY REMINDS US OF THE BLOATING THAT PRECEDED THE RECENT VOGUE IN DOWNSIZING IT PROVIDES ADDITIONAL PERSPECTIVE ON THE CONTEMPORARY MOVEMENT TOWARD SMALL BUSINESS IN THE '40S AND '50S AMBITIOUS YOUNG MEN SURVIVORS OF THE BIG WAR RUSHED TO SIGN ON WITH BIG BUSINESS THE WHIZ KIDS IS PLAINLY A LABOR OF LOVE TO GET THE FEEL OF THE CAR AND THE TIMES THE AUTHOR LOCATED AND PURCHASED A TURNPIKE CRUISER HE WRITES THAT HE TALKED TO 500 PEOPLE AND CONSULTED TENS OF THOUSANDS OF DOCUMENTS THE BOOK IS A PLEASURE TO LOOK AT ALL HONOR TO ITS DESIGNERS BUT NOT AN UNALLOYED PLEASURE TO READ IT IS THE KIND OF BOOK IN WHICH PEOPLE WORKED THEIR ASSES OFF IN WHICH SOMEBODY POURED OVER NUMBERS AND IN WHICH AN UNUSUAL SOMETHING SEEMED TOO UNIQUE ABSENTMINDED EXECUTIVES WALK INTO BUZZ SAWS AND MEN ARE SEPARATED FROM BOYS ALSO AND MORE OBJECTIONABLY NUMEROUS FORGETTABLE CONVERSATIONS ARE RENDERED VERBATIM WAS MR BYRNE ON HAND TO HEAR THE WHIZ KIDS CHEW THE FAT 40 YEARS AGO IN SOMEBODY'S HOTEL ROOM DID THE PARTICIPANTS TAPERECORD THEMSELVES MR BYRNE ACKNOWLEDGES THAT THERE IS A CATCH I USED THESE DOCUMENTS MY INTERVIEWS AND OTHER SOURCE MATERIALS TO CONSTRUCT THE NOVELISTIC RENDERING OF THEIR STORY HERE THE AUTHOR EXPLAINS I TOOK SOME FICTIONAL LICENSE TO RECREATE A FEW SCENES BUT ONLY WHEN SUPPORTED BY INTERVIEWS WITH DIRECT PARTICIPANTS SOMETIMES FOR EXAMPLE A WHIZ KID COULD NOT RECALL THE DIALOGUE IN A MEETING BUT COULD REMEMBER THE TONE OR SUBSTANCE OF THE DISCUSSION I CREATED A FEW LINES THAT WOULD REFLECT THE TONE OF THE SESSION AS RECALLED BY A KEY PARTICIPANT THE TROUBLE IS THAT SCHOLARSHIP IS DIMINISHED BUT DRAMA IS NOT ENHANCED ON CERTAIN PAGES ONE MAY WONDER IF MR BYRNE IS DRAWING ON HIS RESEARCH OR HIS IMAGINATION YET THIS IS A STORY THAT NEEDED NO PRETTY WRITING THE TRAGEDY OF ROBERT MCNAMARA IS ENOUGH TO CARRY THE BOOK ALONG AND IT DOES THIS PLACE IS A JUNGLE A JUNGLE THE NEW SECRETARY OF DEFENSE SAID OF THE PENTAGON SHORTLY AFTER HIS ARRIVAL THERE AT THE START OF THE KENNEDY ADMINISTRATION LATER IN THE '60S MR MCNAMARA WOULD GET TO KNOW ALL HE EVER WANTED TO KNOW ABOUT JUNGLES AND MORE AS FOR CORPORATE HUBRIS WHAT MORE FATEFUL OMEN HAS EVER BEEN PRODUCED BY AN OVERREACHING CORPORATION THAN THE LITTON INDUSTRIES 1966 ANNUAL REPORT IN IT WAS AN ESSAY THAT TEX THORNTON HAD COMMISSIONED FROM THE AMERICAN HISTORIAN ALLAN NEVINS MANAGING IDEAS WAS NEVINS'S TOPIC AS IF THEY EVER COULD BE MR GRANT'S LATEST BOOK IS MINDING MR MARKET TEN YEARS ON WALL STREET WITH GRANT'S INTEREST RATE OBSERVER FARRAR STRAUS & GIROUX 9311120085 931112 A NUCLEAR IRAQ AGAIN BY KENNETH R TIMMERMAN A SERIES OF CRITICAL MEETINGS IS ABOUT TO TAKE PLACE IN NEW YORK THAT COULD LEAD TO THE LIFTING OF UNITED NATIONS SANCTIONS AGAINST IRAQ ALTHOUGH A DECISION TO LIFT THE GULF WAR SANCTIONS WOULD BE A TERRIBLE MISTAKE IT WILL OCCUR AUTOMATICALLY WITHIN A MATTER OF MONTHS UNLESS THE US CAN MAKE A COMPELLING CASE WHY IRAQ CONTINUES TO POSE A THREAT TO INTERNATIONAL PEACE THE SANCTIONS IMPOSED IN THE WAKE OF IRAQ'S INVASION OF KUWAIT AND LATER REINFORCED PREVENT IRAQ FROM SELLING ITS OIL ON THE INTERNATIONAL MARKET THEY ALSO PROHIBIT IRAQ FROM IMPORTING INDUSTRIAL SUPPLIES FROM ANY SOURCE UNTIL THE UN SPECIAL COMMISSION FOR THE DISARMAMENT OF IRAQ HAS VERIFIED THE TOTAL DISMANTLING OF IRAQ'S NUCLEAR BIOLOGICAL CHEMICAL AND BALLISTIC MISSILE PROGRAMS AS WELL AS THE INDUSTRIAL SITES DEDICATED TO THEIR MANUFACTURE STARTING MONDAY A TWOWEEK MARATHON OF MEETINGS WILL BEGIN BETWEEN SENIOR IRAQI OFFICIALS AND THE UN SECURITY COUNCIL THE IRAQIS WILL ARGUE THAT THEY HAVE MET ALL THE OBLIGATIONS IMPOSED ON THEM BY SECURITY COUNCIL RESOLUTIONS AND THAT SANCTIONS AGAINST THEM SHOULD THEREFORE BE LIFTED UNTIL NOW THE EXECUTIVE CHAIRMAN OF THE UN SPECIAL COMMISSION SWEDISH DIPLOMAT ROLF EKEUS HAS STEADFASTLY REBUFFED THE IRAQI CLAIMS MR EKEUS HAS INSISTED THAT IRAQ SUPPLY A COMPREHENSIVE LIST OF THE FOREIGN COMPANIES THAT SUPPLIED TECHNOLOGY TO ITS UNCONVENTIONAL WEAPONS PROGRAMS A SECOND REQUIREMENT WAS THAT IRAQ AGREE TO LONGTERM MONITORING OF ITS PRODUCTION FACILITIES TO ENSURE THAT NO PROHIBITED ACTIVITIES TAKE PLACE IN THE FUTURE FOR MORE THAN TWO YEARS IRAQ HAS REFUSED TO COMPLY WITH BOTH OF THESE DEMANDS WHILE CONTINUING TO SELL ITS OIL ON THE SLY THROUGH IRAN SYRIA TURKEY AND JORDAN MEANWHILE IRAQI AGENTS HAVE RECONSTITUTED THEIR HIGHTECHNOLOGY PROCUREMENT NETWORKS IN EUROPE AND THE FAR EAST MAKING IT SAFE TO REVEAL THE NAMES OF OLD SUPPLIERS INSIDE IRAQ OFFICIALS FROM THE MILITARY INDUSTRIAL COMMISSION LED BY IRAQ'S CHIEF NEGOTIATOR WITH THE UN LT GEN AMER RASHID HAVE MADE EVERY EFFORT TO PREVENT THE UN INSPECTION TEAMS FROM DISCOVERING KEY PIECES OF PRODUCTION EQUIPMENT THEY HAVE HARASSED THE INSPECTION TEAMS PLANTED BOMBS IN THEIR VEHICLES AND PREVENTED THEM FROM FLYING OVER SUSPECT SITES ALTHOUGH THE UN TEAMS HAVE VISITED SOME 75 PRODUCTION AND STORAGE SITES EXPORT RECORDS FROM THE US GERMANY AND BRITAIN ALONE SHOW THAT IRAQ HAS MANAGED TO HIDE HUNDREDS OF SOPHISTICATED COMPUTERS AND ADVANCED MACHINE TOOLS KEY ELEMENTS FOR THE REVIVAL OF ANY WEAPONS PROGRAM EVEN MORE DISTURBING THE SPECIAL COMMISSION HAS NOTED REPEATEDLY THAT IRAQ HAS NOT DISPERSED THE SPECIALIZED TEAMS OF DESIGN ENGINEERS IT HAD ASSEMBLED TO BUILD BALLISTIC MISSILES AND NUCLEAR WEAPONS IN A WRITTEN REPLY TO A QUESTION BY THE SENATE COMMITTEE ON GOVERNMENT AFFAIRS IN AUGUST THE CENTRAL INTELLIGENCE AGENCY ESTIMATED THAT IRAQ COULD STILL MUSTER SOME 7000 OF THESE WEAPONS SCIENTISTS NUCLEAR DESIGN TEAMS FOR INSTANCE HAVE BEEN KEPT INTACT AND PLACED ON THE PAYROLL OF CIVILIAN PROJECTS SUCH AS A BICYCLE FACTORY IRAQ'S RECORD OF CHEATING COUPLED WITH THE BAD INTENTIONS OF SADDAM HUSSEIN PROMPTED MR EKEUS TO REMARK IN APRIL THAT IRAQ'S UNCONVENTIONAL WEAPONS PROGRAMS WOULD 'SPROUT UP AGAIN LIKE MUSHROOMS AFTER THE RAIN ONCE THE UN SANCTIONS WERE LIFTED AND YET THIS IS WHAT IS ABOUT TO HAPPEN AN INVESTIGATION I CONDUCTED EARLIER THIS YEAR ON BEHALF OF THE HOUSE COMMITTEE ON FOREIGN AFFAIRS SHOWED THAT IRAQ HAS ALREADY REBUILT APPROXIMATELY 80 OF ITS WEAPONS PLANTS AND THIS DESPITE THE MOST RIGOROUS INTERNATIONAL SANCTIONS IMPOSED ON A NATION SINCE WORLD WAR II ACCORDING TO REPORTS FROM THE UN SPECIAL COMMISSION AND FROM THE INTERNATIONAL ATOMIC ENERGY AGENCY IN VIENNA MANY OF THESE PLANTS HAVE BEEN CONVERTED TO MAKING CONVENTIONAL WEAPONS SYSTEMS NOT COVERED BY THE UN RESOLUTIONS THESE INCLUDE SUCH THINGS AS T72 TANKS BALLISTIC MISSILES WITH RANGES INFERIOR TO 93 MILES AND HEAVY ARTILLERY OBVIOUSLY THESE PLANTS COULD BE RECONVERTED AGAIN TO MAKE LONGERRANGE BALLISTIC MISSILES OR NUCLEAR WEAPONS COMPONENTS SINCE MUCH OF THE BASIC MANUFACTURING GEAR IS THE SAME IRREVERSIBLE CONVERSION WAS NOT POSSIBLE A JUNE 16 UN SPECIAL COMMISSION REPORT STATED AND SINCE IRAQ HAS REFUSED TO ACCEPT ANY LONGTERM MONITORING OF ITS DUALUSE EQUIPMENT UNTIL NOW THAT SAME REPORT CONCLUDED THE COMMISSION CANNOT GUARANTEE THE NONPROHIBITED USE OF ANY EQUIPMENT REDEPLOYED BY IRAQ TO CONVENTIONAL MILITARY MANUFACTURING PROGRAMS ON OCT 8 JUST AS HE WAS PREPARING TO LEAVE BAGHDAD AFTER AN UNSUCCESSFUL NEGOTIATING SESSION MR EKEUS WAS HANDED THE LONGAWAITED SUPPLIERS LIST MR EKEUS PLEDGED IN WRITING TO KEEP THE CONTENTS CONFIDENTIAL COMMUNICATING THEM ONLY TO GOVERNMENTS INTERESTED IN PROSECUTING FIRMS THAT MAY HAVE VIOLATED EXPORT CONTROL REGULATIONS SOURCES WHO HAVE SEEN THE LIST HOWEVER ACKNOWLEDGE THAT IT PROVIDES AT BEST A BROKEN ROADMAP OF IRAQ'S PROCUREMENT NETWORKS SINCE SUPPLIERS WERE NOT CONNECTED DIRECTLY TO SPECIFIC LOCATIONS BUT IDENTIFIED ONLY IN GENERIC CATEGORIES NEVERTHELESS MR EKEUS WILL BE HARDPRESSED TO ARGUE THAT IRAQ HAS NOT FULFILLED ITS OBLIGATION UNDER SECURITY COUNCIL RESOLUTIONS THE TRUTH IS EVEN AMERICA'S ALLIES IN THE WEST FRANCE BRITAIN GERMANY AND ITALY ARE LINING UP TO DO BUSINESS WITH IRAQ AND HAVE GROWN WEARY OF THE CUMBERSOME UN SANCTIONS REGIME IF THE IRAQIS PRESENT A REALISTIC PROPOSAL FOR BOTH THE LONGTERM MONITORING OF THEIR SPECIAL WEAPONS FACILITIES AND AN IMPORTCONTROL REGIME THE ONLY REMAINING UN DEMANDS THEN MR EKEUS WILL BE OBLIGED TO RECOMMEND THAT THE SECURITY COUNCIL LIFT THE SANCTIONS WHEN THE IRAQIS COME TO NEW YORK NEXT WEEK HAGGLING OVER DETAILS COULD EXTEND THE END GAME BUT THE WRITING IS ALREADY ON THE WALL IT IS ONLY A MATTER OF MONTHS BEFORE IRAQ IS BACK ON THE MARKET AS A MAJOR OIL SUPPLIER AND A MAJOR IMPORTER OF DUALUSE TECHNOLOGY WHAT NEXT CIA DIRECTOR JAMES WOOLSEY TOLD THE SENATE GOVERNMENT OPERATIONS COMMITTEE THAT IRAQ COULD RELAUNCH THE PRODUCTION OF CHEMICAL WEAPONS ALMOST IMMEDIATELY AFTER SANCTIONS ARE LIFTED BALLISTIC MISSILE PRODUCTION COULD RESUME WITHIN A MATTER OF MONTHS AS FOR NUCLEAR WEAPONS NO ONE REALLY BELIEVES IRAQ HAS EVER ABANDONED ITS PROGRAM ONCE THE UN INSPECTORS ARE GONE IRAQ WILL BRING ITS BEST EQUIPMENT BACK OUT FROM HIDING AND REASSIGN THE DESIGN TEAMS NOW WORKING AT THE BICYCLE PLANTS IN JUST A FEW YEARS WE COULD BE IN FOR ANOTHER NUCLEAR SURPRISE NO ONE SHOULD BE COCKY ABOUT HOW LONG IT WILL TAKE INSTEAD OF GIVING IRAQ A CLEAN BILL OF HEALTH THE UN WOULD BE BETTER ADVISED TO REASSESS THE WHOLE ISSUE OF IRAQ'S COMPLIANCE WITH SECURITY COUNCIL RESOLUTIONS AND PERHAPS CONSIDER A FOLLOWON RESOLUTION PLACING LIMITS ON IRAQ'S CONVENTIONAL WEAPONS MANUFACTURING CAPABILITIES IN ADDITION TO ITS WEAPONS OF MASS DESTRUCTION IN THE MEANTIME ANY LONGTERM MONITORING PLAN SHOULD BE ENTRUSTED PRIMARILY TO THE UN'S SPECIAL COMMISSION AND NOT TO THE INTERNATIONAL ATOMIC ENERGY AGENCY ACCORDING TO ITS DIRECTOR GENERAL HANS BLIX THE AGENCY IS ILLEQUIPPED TO PLAY THE ROLE OF AGGRESSIVE DETECTIVE SINCE ITS PRIMARY FUNCTION OVER THE YEARS HAS BEEN TO FACILITATE NUCLEAR TECHNOLOGY TRANSFER TO THE DEVELOPING WORLD WHILE THE AGENCY ITSELF IS EAGER FOR REFORM THIS WILL REQUIRE MORE TIME THAN WE HAVE TO PREVENT A NUCLEAR IRAQ THE THREAT IS NOW MR TIMMERMAN IS THE AUTHOR OF THE DEATH LOBBY HOW THE WEST ARMED IRAQ HOUGHTON MIFFLIN 1991 9311120084 931112 LEISURE & ARTS FIDDLER OF MANY FACES BY ROXANE ORGILL NEW YORK MARK O'CONNOR WAS BILLED AS A COUNTRY MUSICIAN AT THE RECENT FIDDLEFEST WHICH BROUGHT TOGETHER VIOLINISTS OF VARIOUS PERSUASIONS INCLUDING CLASSICAL ITZHAK PERLMAN MIDORI EAST HARLEM SCHOOLCHILDREN AND JAZZ KAREN BRIGGS JOHN BLAKE JR AT CARNEGIE HALL BUT O'CONNOR DID NOT EXACTLY LIVE UP TO HIS BILLING WEARING NOT A COWBOY HAT BUT A FEDORA AND IMPROVISING FREELY MOSTLY ON TUNES HE MADE UP ON THE SPOT WITH A BIT OF ASHOKAN FAREWELL THE THEME SONG FROM PBS'S CIVIL WAR SERIES THROWN IN I'VE BROKEN THE RULES EVER SINCE I STARTED HE SAID LAUGHING IN HIS HOTEL SUITE THE NEXT DAY INDEED THE 32YEAROLD MUSICIAN HAS MADE A CAREER OUT OF STRETCHING BOUNDARIES FIRST AS AN OLDTIME COUNTRY FIDDLER LATER AS AN AWARDWINNING NASHVILLE SESSION MAN AND NOW AS A SOLO VIOLINIST IN A STYLE NOT EVEN HE CAN NAME I STARTED FIDDLING WHEN I WAS 11 AND BEFORE THAT I WAS PLAYING CLASSICAL GUITAR AND FLAMENCO GUITAR LEARNING THAT BY EAR AND STRUMMING AND SINGING JOHNNY CASH TUNES ALL AT THE SAME TIME SO IT WAS IN THE STARS FOR ME TO BE SOME KIND OF MUSICAL SCHIZOPHRENIC HE GOT THE VIOLIN BUG WHEN HE WAS EIGHT AND SAW DOUG KERSHAW THE RAGIN' CAJUN WITH HIS FAMOUS FLUID BOWING ARM ON CASH'S TV SHOW IT DIDN'T TAKE LONG FOR O'CONNOR TO BEGIN TAMPERING WITH TRADITION WITH A LITTLE ENCOURAGEMENT FROM AN 84YEAROLD FRIEND TEXAS FIDDLER BENNY THOMASSON HE WOULD TEACH ME ONE OF HIS RENDITIONS O'CONNOR RECALLS AND THEN HE WOULD SAY YOU CAN MAKE IT BETTER' TO THIS DAY I DON'T AGREE WITH HIM BECAUSE HE HAS THE MOST PERFECT RENDITIONS OF FIDDLE TUNES BUT HE INSTILLED THE FACT THAT I SHOULD HAVE THE COURAGE TO TRY ON A CD COMPILATION OF O'CONNOR RECORDINGS THE CHAMPIONSHIP YEARS ON COUNTRY MUSIC FOUNDATION RECORDS HE SQUEEZES IN EXTRA NOTES AND ADDS DOUBLE STOPS EVEN AS THE TUNE IS RUSHING BY WITH THE SPEED OF A SWOLLEN BROOK OVER A DAM I WOULD APPROACH FIDDLING WITH THE TONE AND INTONATION OF CLASSICAL MUSIC AND I WOULD APPROACH THE MUSIC WITH THE IMPROVISATORY AND DEVELOPMENTAL NATURE OF JAZZ AND THE COMBINATION OF THOSE TWO THINGS INSIDE OF AN AMERICAN OLDTIME FIDDLE TUNE WAS QUITE CONTROVERSIAL HE SAYS NONETHELESS HE MANAGED TO TAKE FIRST PLACE IN THE NATIONAL OLD TIME FIDDLING CONTEST IN WEISER IDAHO NINE TIMES BEFORE RETIRING FROM CONTESTS AT AGE 23 AFTER ACCUMULATING A FEW MORE MUSICAL INFLUENCESPERFORMING WITH A JAZZ BAND THE DAVE GRISMAN QUINTET A ROCK FUSION BAND THE DIXIE DREGS AND VENERABLE JAZZ VIOLINIST STEPHANE GRAPPELLI HE WAS OFF TO NASHVILLE AT THE TIME HE SAYS FEW COUNTRY ARTISTS WERE USING THE VIOLIN IN THEIR BANDS BUT HE MANAGED TO GET WORK RIGHT AWAY ON ALBUMS BY GEORGE STRAIT AND REBA MCENTIRE THEN THE PHONE STOPPED RINGING HE WAS TOO PROGRESSIVE PEOPLE SAID HE DIDN'T SOUND COUNTRY ENOUGH HE WAS JUST ABOUT TO PACK IT IN WHEN TWO POPROCK ENTITIES MICHAEL MARTIN MURPHEY AND THE NITTY GRITTY DIRT BAND EACH DECIDED TO TRY A COUNTRY RECORDING AND TO BRING IN O'CONNOR AS A GUEST THEIR VERSION OF COUNTRY WAS SOMEWHERE BETWEEN A ROCK BAND AND A JUG BAND IT'S LIKE ANYTHING GOES SO I WAS GIVEN THIS INCREDIBLE CREATIVE LATITUDE AND I PLAYED LONG SOLOS THEY BOTH ENDED UP BEING SINGLES AND BOTH ENDED UP IN THE TOP 20 SO AT THE START OF 1985 MY CALENDAR WAS JAMPACKED WITH SESSION AFTER SESSION AFTER SESSION I WAS RECORDING FOR PEOPLE WHO HAD NEVER CONSIDERED USING A FIDDLE LIKE KENNY ROGERS AND CRYSTAL GAYLE AND EVEN REBA MCENTIRE AGAIN EVERYBODY SAID THIS MUST BE THE NEW FIDDLE SOUND THIS MUST BE THE NEW SOUND OF COUNTRY MUSIC IN THE NEXT FIVE YEARS HE PLAYED ON 450 ALBUMS HE DESIGNED AND BUILT HIS DREAM HOUSE AS WELL AS HIS OWN RECORDING STUDIO BUT MUSICAL RESTLESSNESS SET IN AGAIN MY MANAGER WOULD CALL ME YOU COULD MAKE 900 IN THREE HOURS RECORDING ON RANDY TRAVIS'S ALBUM OR YOU COULD DO THIS INTERVIEW FOR A SMALLTOWN NEWSPAPER IN NORTH DAKOTA ABOUT YOUR NEW NASHVILLE CATS ALBUM FOR NOTHING' CONSISTENTLY I CHOSE THE INTERVIEW MY MIND WAS IN THIS OTHER CREATIVE FREER PLACE AND I COULD NOT GO BACK AFTER NASHVILLE CATS WARNER BROS A SHOWCASE FOR COUNTRY MUSIC'S BEST SESSION PLAYERS WON A GRAMMY IN 1992 HE DIDN'T HAVE TO WORRY ABOUT MAKING THE MORTGAGE ON HIS DREAM HOUSE ANYMORE HIS LATEST ALBUM HEROES ALSO FROM WARNER BROS FEATURES O'CONNOR IN IMPROVISED DUETS WITH 14 VIOLINISTS WHO INFLUENCED AND INSPIRED HIM WHEN HE WAS STARTING OUT THEY RANGE FROM KERSHAW THOMASSON AND GRAPPELLI TO L SHANKAR WHO PLAYS A DOUBLE VIOLIN OF HIS OWN INVENTION AND PINCHAS ZUKERMAN I HAPPENED TO HAVE ASHOKAN FAREWELL' IN MY BRIEFCASE I TOOK IT OUT AND SAID IF YOU TAKE A MELODY LIKE THIS IT'S FLEXIBLE ENOUGH FOR A FIDDLER'S INTERPRETATION AS WELL AS A CLASSICAL INTERPRETATION' HE SAID LET ME SEE THAT' HE LOOKED AT IT AND SAID I WOULD PLAY THIS VERY DIFFERENTLY FROM YOU' I SAID I KNOW' THEY RECORDED THE PIECE THE FOLLOWING MORNING EACH TAKING A TURN ADDING FLOURISHES TO THE PLAINTIVE TUNE ZUKERMAN'S FIELD CLASSICAL MUSIC WOULD APPEAR TO BE O'CONNOR'S LAST FRONTIER THE ONLY GENRE HE HAS NOT CONQUERED HIS LONE CLASSICAL VIOLIN LESSON ENDED AFTER 10 MINUTES BECAUSE HE GOT INTO A HEATED ARGUMENT WITH THE TEACHER OVER HOW TO BOW A PASSAGE IN BACH'S CONCERTO FOR TWO VIOLINS O'CONNOR CAME FACE TO FACE WITH THAT WORK AGAIN AT FIDDLEFEST WHEN THE ENTIRE ENSEMBLE PERFORMED A MOVEMENT FROM THE CONCERTO AS THE GRAND FINALE O'CONNOR COULDN'T KEEP UP THOSE KIDS THE EAST HARLEM SCHOOLCHILDREN WERE PLAYING CIRCLES AROUND ME HE ADMITS HIS OWN VIOLIN CONCERTO WHICH HE HAS PERFORMED WITH THE NASHVILLE AND SANTA FE SYMPHONIES IS ALL SNIPS AND SNATCHES EPISODIC TO THE POINT OF INCOHERENCE ONLY THE IMPROVISED CADENZAS WORK INTROSPECTIVE JOURNEYS THROUGH MANY STYLES SOME INDEFINABLE WHAT COMES MOST NATURAL TO ME IS IMPROVISATION HE SAYS STRETCHING HIS 6FOOT4 FORM UNTIL IT MAKES THE ARMCHAIR HE'S SITTING IN LOOK LIKE KIDDIE FURNITURE I GET OUT THERE AND I GET A FEEL FROM MY SURROUNDINGS AND IMPROVISE MY WAY AROUND THINGS AND GO WITH THE FLOW MS ORGILL IS A FREELANCE WRITER IN HOBOKEN NJ 9311120083 931112 MARKETING BRIEF WASHINGTON POST CO NEW MULTIMEDIA UNIT TO PUT FIRM'S PUBLICATIONS ONLINE WASHINGTON POST CO HOPPED ON THE MULTIMEDIA BANDWAGON BY ANOUNCING THE CREATION OF A NEW SUBSIDIARY DIGITAL INK CO THAT WILL PROVIDE NEWS AND INFORMATION FOR DISTRIBUTION BY PHONE FAX AND COMPUTER DIGITAL INK WILL DRAW ON THE RESOURCES OF THE POST'S FLAGSHIP NEWSPAPER AS WELL AS NEWSWEEK MAGAZINE AND THE WASHINGTON DC COMPANY'S BROADCAST AND CABLE DIVISIONS TO PRODUCE A RANGE OF PRODUCTS COMBINING TEXT GRAPHICS PHOTOS VIDEO AND SOUND DIGITAL INK'S FIRST PRODUCT AN ONLINE VERSION OF THE WASHINGTON POST IS SCHEDULED TO BE DELIVERED BY JULY 1994 DIGITAL INK WILL ALSO MANAGE THE COMPANY'S EXISTING AUDIOTEXT INFORMATION SERVICE POSTHASTE 9311120082 931112 FRENCH BANKERS SEEK TO BREAK UP RIVAL PECULIAR PUBLIC INSTITUTION DOMINATES CAPITAL MARKETS BY CHARLES FLEMING STAFF REPORTER OF THE WALL STREET JOURNAL ONE YEAR AFTER NAPOLEON'S DEFEAT AT WATERLOO IN 1815 FRANCE SET UP THE CAISSE DES DEPOTS & CONSIGNATIONS TO ENSURE THAT OVERZEALOUS BUT UNSCRUPULOUS FRENCH LEADERS LIKE THEIR FORMER EMPEROR COULD NEVER AGAIN PLUNDER THE NATIONAL SAVINGS TODAY FRENCH BANKERS ARE FRETTING THAT THEIR LEADERS IN THIS CASE EDOUARD BALLADUR'S RIGHTWING GOVERNMENT AREN'T BEING NEARLY ZEALOUS ENOUGH IN PLUNDERING THE SUBSTANTIAL WEALTH THE CAISSE HAS ACQUIRED OVER THE PAST 177 YEARS THE CAISSE WHOSE ELEGANT HEADQUARTERS NEXT TO THE ORSAY MUSEUM LOOK OVER THE SEINE RIVER TO THE LOUVRE MUSEUM IS A PECULIARLY FRENCH INSTITUTION THAT SINGLEHANDEDLY DOMINATES THE DOMESTIC CAPITAL MARKETS THE CAISSE WHOSE FULL NAME TRANSLATES INTO THE BANK FOR DEPOSITS AND CONSIGNMENTS IS A BROADBASED FINANCIAL INSTITUTION WITH TOTAL ASSETS OF 145 TRILLION FRANCS 246 BILLION THE CAISSE'S MAIN ACTIVITIES INCLUDE MANAGING DEPOSITS FROM THE NATIONAL SAVINGSBANK NETWORKS AND FUNDING FRENCH PUBLIC HOUSING DEPOSITS IN NATIONAL SAVINGS BANKS COME FROM INDIVIDUALS AND ARE TAXEXEMPT THE CAISSE HAS A NUMBER OF MONOPOLIES INCLUDING NOTARIES' DEPOSITS INCLUDING THE PAYMENTS FOR EVERY FRENCH PROPERTY TRANSACTION ALL LIFEINSURANCE PRODUCTS SOLD THROUGH THE NATIONAL POST OFFICE NETWORK AND UNTIL RECENTLY ALL THE FRENCH LOCAL AUTHORITIES' LOANS AND BONDS BUILDING ON THIS POWERFUL BASE THE INSTITUTION GRADUALLY HAS EXTENDED ITS REACH THROUGHOUT THE FRENCH FINANCIAL SYSTEM MAKING IT THE LARGEST SINGLE PLAYER ON THE FRENCH STOCK AND BOND MARKETS AT THE SAME TIME IT HAS DEVELOPED SIGNIFICANT HOLDINGS IN A VARIETY OF TRAVEL AND COMMUNICATIONS COMPANIES FOR EXAMPLE IT HAS STAKES IN HOTEL GROUPS ACCOR SA AND CLUB MEDITERRANEE SA OF 7 AND 10 RESPECTIVELY IT HOLDS BONDS OF STATE AIRLINE AIR FRANCE THAT WILL GIVE IT A 75 DIRECT STAKE UPON THEIR REDEMPTION IN 1999 THE FRENCH FINANCIAL LANDSCAPE IS DOMINATED BY A DINOSAUR IMBUED WITH A CAPITAL OF TENS OF BILLIONS OF FRANCS IT HAS NO EQUIVALENT ANYWHERE IN THE WORLD THE FRENCH BANKING ASSOCIATION OR AFB SAYS IN ITS RECENT PAMPHLET ABOUT THE CAISSE THIS MAKES FOR UNFAIR COMPETITION IN FINANCIAL SERVICES AND CAN BE DESTABILILIZING FOR PRIVATESECTOR COMPANIES THE AFB SAYS AT ISSUE IS MORE THAN JUST THE OLD ARGUMENT BETWEEN FRANCE'S STATEOWNED BANKS AND THE PRIVATE SECTOR THE CAISSE IS UNIQUE IT IS A PUBLIC AGENCY NOT SUBJECT TO THE FRENCH BANKING COMMISSION AND SUPERVISED ONLY BY A PARLIAMENTARY COMMISSION AND WHAT ANGERS RIVAL BANKERS ITS POOL OF ASSETS IS SWOLLEN BY HUGE AMOUNTS OF PUBLIC MONEY WHICH IT MANAGES FOR VARIOUS STATE AGENCIES THE CAISSE IS NO STRANGER TO CONTROVERSY ESPECIALLY SINCE THE LATE 1980S WHEN IT BACKED THE THENSOCIALIST GOVERNMENT'S ULTIMATELY ABORTIVE ATTEMPT TO RENATIONALIZE PRIVATIZED BANK SOCIETE GENERALE AMONG THE MOST VOCAL OF THE CRITICS AT THE TIME WAS MR BALLADUR WHO TODAY IS THE RALLY FOR THE REPUBLIC PARTY PRIME MINISTER IN APRIL 1989 AS A DEPUTY IN THE NATIONAL ASSEMBLY HE FILED A BILL CALLING FOR THE CAISSE TO BE DECONSECRATED STRIPPING IT OF ITS SPECIAL PUBLIC AGENCY STATUS AND ABOLISHING ITS MONOPOLIES ON COMING TO POWER IN APRIL MR BALLADUR TOLD PARLIAMENT THAT HE INTENDED TO REFORM BOTH THE BANK OF FRANCE AND THE CAISSE AS SOON AS POSSIBLE THE BANK OF FRANCE'S STATUTES HAVE SINCE BEEN OVERHAULED REMOVING THE CENTRAL BANK FROM THE TREASURY'S SUPERVISION AND EFFECTIVELY DISTANCING IT FROM POLITICAL DICTATES BUT NOW THAT IT IS THE CAISSE'S TURN THE AFB IS GETTING EDGY THAT THE GOVERNMENT IS GOING TO PULL ITS PUNCHES BY PASSING A REFORMETTE RATHER THAN A COMPLETE OVERHAUL THE REASON FOR SUCH HALFMEASURES ACCORDING TO THE AFB WOULD BE POLITICAL LOBBYING BY NATIONAL ASSEMBLY DEPUTIES ON BEHALF OF THE SAVINGSBANK NETWORKS WHICH ARE ANXIOUS ABOUT LOSING MARKET SHARE TO THE COMMERCIAL BANKS IF THE CAISSE NO LONGER OFFERS SUCH COMPETITIVE PRODUCTS AS LIFEINSURANCE POLICIES THE NATIONAL SAVINGS BANKS WOULD HAVE TO RELY ON TAXEXEMPT PASSBOOK DEPOSIT ACCOUNTS WHICH WOULD MAKE IT EASIER FOR COMMERCIAL BANKS TO LURE AWAY CUSTOMERS WE'D PREFER NO REFORM AT ALL TO COSMETIC CHANGES WHICH LEAVE THE DINOSAUR INTACT SAYS AN AFB SPOKESMAN WHAT REALLY WORRIES THE BANKERS IS THAT THE REFORM UNDER REVIEW AT THE TREASURY AND LIKELY TO BE PUT BEFORE PARLIAMENT NEXT SPRING WILL GO LITTLE FURTHER THAN TO ESTABLISH A HOLDING COMPANY AT THE TOP REPLACE THE PARLIAMENTARY COMMISSION WITH A BOARD OF DIRECTORS AND MAKE THE CHAIRMAN WHO TODAY IS NAMED BY PRESIDENTIAL DECREE MORE ACCOUNTABLE THE AFB WANTS TO SEE NOTHING SHORT OF A CAISSE REDUCED TO FUNDING PUBLIC HOUSING OUT OF THE MONEY IT RECEIVES FROM THE SAVINGSBANK PASSBOOK DEPOSITS PLUS HANDLING THE INVESTMENT MANDATES OF A HANDFUL OF STATE INSTITUTIONS SUCH AS THE CIVIL SERVANTS' RETIREMENT FUNDS AND A COUPLE OF PUBLICWORKS FUNDS LIKE THE NATIONAL HIGHWAY FUND THE BANKING LOBBY ALSO WOULD LIKE TO TIGHTLY CONTROL THE INVESTMENT STRATEGY OF THE RUMP CAISSE IN ITS PAMPHLET THE AFB GOES SO FAR AS TO DICTATE THE TERMS OF A NEW INVESTMENT STRATEGY FOR THE CAISSE EVEN IF ITS FUNDMANAGEMENT ACTIVITIES MAY LEAD TO EQUITY INVESTMENTS THE CAISSE MUST NEVER BE ABLE TO EXERCISE SIGNIFICANT INFLUENCE OVER THE COMPANIES CONCERNED THE AFB SAYS SUGGESTING THE CAISSE SHOULD BE LIMITED TO A MAXIMUM STAKE OF 1 OF A COMPANY'S CAPITAL THE REST OF THE CAISSE'S ACTIVITIES INCLUDING ITS LIFEINSURANCE BUSINESS ITS LOCAL AUTHORITIES' FINANCING ARM AND ITS SAVINGSBANK INVESTMENT OPERATIONS ALL SHOULD BE PRIVATIZED THE AFB INSISTS AND NOT ONLY THAT THE PROCEEDS OF THOSE SALES MUSTN'T COMPENSATE THE CAISSE BUT GO TO THE GOVERNMENT TO HELP PAY DOWN THE BUDGET DEFICIT THE BANKING LOBBY SAYS ALTHOUGH THE GOVERNMENT IS MAINTAINING A LOW PROFILE FOR THE MOMENT PREFERRING NOT TO REVEAL ITS INTENTIONS UNTIL NEARER THE TIME IT PUTS ITS BILL BEFORE PARLIAMENT THE CAISSE HAS RIDDEN INTO THE BREACH AGAINST THE BANKERS THE CAISSE'S MAIN ARGUMENT AGAINST BEING HACKED INTO LITTLE PIECES IS THAT ALL ITS ACTIVITIES BE THEY TRADING ON THE CAPITAL MARKETS OR FINANCING PUBLICSECTOR HOUSING ARE PART OF A WHOLE THAT COULDN'T FUNCTION WITHOUT ITS DIFFERENT ELEMENTS CAISSE CHAIRMAN PHILIPPE LAGAYETTE HAS PLEADED FOR A REFORM THAT WOULD BREAK OUT THE CAISSE'S COMPETITIVE BANKING BUSINESS INTO A SUBSIDIARY THUS ERECTING A WALL BETWEEN THE PUBLIC MONEY ENTRUSTED TO IT AND ITS OWN FUNDS BUT WHICH WOULD RETAIN ALL THE GROUP'S CURRENT ACTIVITIES UNDER THE CONTROL OF A CENTRAL HOLDING COMPANY IN JUNE MR LAGAYETTE TOLD A SENATE COMMISSION EVEN IF IT IS DESIRABLE TO DISTINGUISH BETTER BETWEEN THE CAISSE'S DIFFERENT ACTIVITIES THE SEPARATION OF THE GENERALINTEREST ACTIVITIES AND THE COMPETITIVE ACTIVITIES WOULD CERTAINLY RESULT IN A LOSS OF QUALITY ON BOTH SIDES WITHOUT THE DISCIPLINE IMPOSED BY COMPETING ON THE FREE MARKET HE SAID THE CAISSE WOULD LAPSE INTO AN ADMINISTRATIVE UNIVERSE 9311120081 931112 SEEKING CONTROL BATTLE FOR PROPERTIES KEEPS NICARAGUANS ON VERGE OF ANARCHY A MURDER IN THE COUNTRYSIDE BECOMES SYMBOL IN FIGHT OVER CONFISCATED LANDS IN THE HANDS OF GANGSTERS' BY JOSE DE CORDOBA STAFF REPORTER OF THE WALL STREET JOURNAL LEON NICARAGUA ON THE MORNING OF NOV 23 LAST YEAR JUST OUTSIDE THE REMOTE TOWN OF EL SAUCE TWO MEN APPROACHED ARGES SEQUEIRA LAWYER CATTLEMAN AND PRESIDENT OF AN ORGANIZATION THAT SEEKS THE RETURN OF LANDS CONFISCATED BY THE SANDINISTAS DURING THEIR DECADE IN POWER THEY BEGAN TALKING ABOUT SOME STOLEN HORSES AS THE GROUP NEARED A RAILROAD BRIDGE THE TWO MEN THREW AN 18YEAROLD MAN WHO WAS ACCOMPANYING MR SEQUEIRA INTO A STREAM THEN ONE OF THEM SHOT MR SEQUEIRA IN THE HEAD SIX TIMES THEY PUT A GUN TO THE YOUNG MAN'S HEAD BUT HE PLEADED FOR HIS LIFE THEY LET HIM GO A MISTAKE AS IT TURNED OUT THE FACES OF THE MEN WERE ENGRAVED IN THE YOUNG MAN'S MEMORY BECAUSE HE HAD A GUN TO HIS FOREHEAD SAYS LEON PROSECUTOR DENIS RUEDA SITTING BEHIND A BARE DESK IN A BARE OFFICE A MAID IN LEON SOON IDENTIFIED A POLICE SKETCH OF ONE MAN AS HER BOSS A FORMER SANDINISTA ARMY CAPTAIN YESTERDAY AFTER A YEAR OF CONTROVERSY AND ONE MISTRIAL NICARAGUA BEGAN ONCE AGAIN TRYING FOR MURDER FORMER LT COL FRANK IBARRA A FOUNDING MEMBER OF THE SANDINISTA INTERIOR MINISTRY AND FOR YEARS A SECURITY AND INTELLIGENCE COMMANDER OF THE REGION TWO OTHER FORMER ARMY OFFICERS ARE BEING TRIED ALONG WITH MR IBARRA ALL IN ABSENTIA THE SEQUEIRA MURDER HAS BECOME A SYMBOL OF THE ANGUISHED POLITICAL TIMES NICARAGUA IS LIVING THROUGH THREE YEARS AFTER VIOLETA CHAMORRO'S ELECTORAL TRIUMPH OVER THE SANDINISTAS RECONCILIATION REMAINS ELUSIVE AND NICARAGUA REMAINS ON THE VERGE OF POLITICAL ANARCHY AND ECONOMIC RUIN IN THE NATION'S DYSFUNCTIONAL NATIONAL ASSEMBLY A PERFECT METAPHOR FOR THE COUNTRY'S DEEP DIVISIONS MRS CHAMORRO'S ELECTORAL ALLY THE UNO COALITION IS NOW IN OPPOSITION IN THE MORNING UNO DEBATES MEASURES INTRODUCED BY THE GOVERNMENT IN THE AFTERNOON UNO BOYCOTTS VOTES ON LEGISLATION WHICH THEN PASSES BY OVERWHELMING MARGINS THANKS TO THE UNANIMOUS SUPPORT OF MRS CHAMORRO'S FORMER ENEMIES THE SANDINISTAS THE GOVERNMENT UNO AND THE SANDINISTAS HAVE BEEN HOLDING TALKS ON A WAY TO END THE POLITICAL STALEMATE WHILE UNO AND SANDINISTA OFFICIALS SAID YESTERDAY THEY WERE OPTIMISTIC ABOUT THE SUCCESS OF THE TALKS SUCH NEGOTIATIONS HAVE OFTEN FAILED BEFORE IN THE PAST FEW MONTHS BANDS OF DISGRUNTLED FORMER SANDINISTA SOLDIERS KNOWN AS RECOMPAS HAVE VIOLENTLY TAKEN OVER A CITY ONLY TO BE DRIVEN OUT BY GOVERNMENT TROOPS THEY HAVE BLOCKED ROADS OCCUPIED MANAGUA'S NEW CATHEDRAL AND KIDNAPPED OPPOSITION LEADERS AND FRUSTRATED FORMER CONTRAS THE REBELS WHO FOUGHT THE SANDINISTAS FOR A DECADE HAVE KIDNAPPED GOVERNMENT OFFICIALS AND FOUGHT THEIR OWN SKIRMISHES WITH GOVERNMENT TROOPS ALTHOUGH THE VIOLENCE HAS SUBSIDED SINCE AN AMNESTY WAS DECREED IN AUGUST THE NEARANARCHY AND CONFLICTS ABOUT LAND OWNERSHIP HAVE STALLED THE COUNTRY'S ECONOMIC RECOVERY THE SEQUEIRA MURDER INVOLVES THE TWO MOST DIVISIVE ISSUES IN NICARAGUA TODAY ONE IS THE DISPUTED OWNERSHIP OF PROPERTIES CONFISCATED BY THE SANDINISTAS DURING THEIR DECADELONG RULE THE SECOND IS WHAT NICARAGUANS CALL LA IMPUNIDAD OR IMPUNITY THE LACK OF CIVILIAN CONTROL AND THE FACT OF SANDINISTA CONTROL OVER THE COUNTRY'S MILITARY AND POLICE MR SEQUEIRA WAS KILLED BECAUSE HE PRESIDED OVER THE ASOCIACION NACIONAL DE CONFISCADOS DE NICARAGUA AN ORGANIZATION THAT CALLS FOR THE RETURN OF ALL PROPERTIES CONFISCATED BY THE SANDINISTAS HE HAD TAKEN UP THAT CAUSE WITH A LOT OF COURAGE SAYS MOISES HASSAN A FORMER TOP SANDINISTA LEADER WHO IS NOW AN INDEPENDENT DEPUTY ALLIED WITH THE OPPOSITION UNO COALITION MR SEQUEIRA'S DEATH HAD A CHILLING EFFECT ON THE CONFISCADOS THREE OUT OF 11 MEMBERS OF THE BOARD OF DIRECTORS RETIRED SAYS ARIEL SOLORZANO THE CURRENT PRESIDENT WHOSE HOUSE WITH ITS HIGH CONCRETE WALLS AND STEEL GATES SEEMS LIKE A BUNKER MR SOLORZANO SAYS HE TOO HAS BEEN TARGETED FOR DEATH MR SEQUEIRA DESPITE A STREAM OF DEATH THREATS DIDN'T USE BODYGUARDS IN A RADIO INTERVIEW EIGHT DAYS BEFORE HE WAS SHOT HE PARAPHRASED THE WORDS FAMOUS IN THE SPANISHSPEAKING WORLD USED BY THE MOTHER OF THE LAST MOORISH KING OF GRANADA TO REBUKE HER SON AS THE CATHOLIC KINGS EXPELLED THEM FROM THEIR KINGDOM IN 1492 DON'T CRY LIKE A WOMAN OVER WHAT YOU DID NOT DEFEND LIKE A MAN THERE'S A LOT TO BE CRIED OVER IN NICARAGUA ACCORDING TO A STUDY LAST YEAR BY THE UNIVERSITY OF WISCONSIN'S LAND TENURE CENTER 40 OF NICARAGUAN HOUSEHOLDS ARE EMBROILED OR COULD BE EMBROILED IN LAND DISPUTES DIPLOMATS SAY THAT MORE THAN A THIRD OF NICARAGUA'S CROP AND CATTLE LANDS ARE BEING CONTESTED MOST OF THE CONFLICTS ARISE FROM THE CONFISCATIONS OF HOUSES FARMS AND FACTORIES BY THE SANDINISTAS WHO DISTRIBUTED MOST OF THE SPOILS TO THEIR PARTISANS FAILING IN MANY CASES TO AWARD PERMANENT PROPERTY TITLES THE DISTRIBUTION BENEFITED SANDINISTAS RANGING FROM POOR PEASANTS IN FARM COOPERATIVES TO PARTY LEADERS WHO GRABBED LARGE FARMS AND FANCY MANSIONS RESOLVING THE PROBLEM HAS PROVED IMPOSSIBLE FOR THE CHAMORRO GOVERNMENT WHICH INSTITUTED A SLOW AND CONVOLUTED SYSTEM TO REVIEW THE CONFISCATIONS PAY OFF FORMER OWNERS WITH GOVERNMENT BONDS OR IN A FEW CASES RETURN PROPERTIES IN MANY CASES SANDINISTAS HAVE RESISTED VIOLENTLY WHEN FORMER OWNERS HAVE TRIED TO RECLAIM PROPERTY THE ISSUE IS INCENDIARY AND DEEPLY DESTRUCTIVE TO NICARAGUA'S HOPES OF ECONOMIC RECOVERY WITHOUT CLEAR TITLE TO PROPERTY FARMERS MANY OF WHOM ARE FORMER CONTRAS OR DEMOBILIZED SOLDIERS CAN'T GET LOANS OTHER DEMOBILIZED VETERANS HAVE YET TO RECEIVE LAND THEY WERE PROMISED BUT NEARLY ALL AFTER MORE THAN A DECADE OF ALMOST CONTINUING WARFARE ARE MORE SKILLED WITH AN AK47 RIFLE THAN WITH A PLOW DEAD MR SEQUEIRA HAS BECOME A SYMBOL FOR PEOPLE LIKE JAIME SOLORZANO 55 AN AGRONOMIST WHO RECENTLY TRIED TO RECLAIM A SMALL COFFEE AND PLANTAIN FARM IN JINOTEPE ABOUT 30 MILES FROM MANAGUA MR SOLORZANO SAYS THAT WHEN HE ARRIVED AT THE FARM WITH A CROWD OF SUPPORTERS TO ENFORCE AN EVICTION ORDER MIGUEL MARQUEZ THE SANDINISTA TENANT DISAPPEARED INTO A COFFEE GROVE AND PEPPERED MR SOLORZANO'S PARTY WITH GUNFIRE MR SOLORZANO'S SON AND A FRIEND WERE WOUNDED THE TENSION IS ESPECIALLY HIGH IN NICARAGUA'S NORTHERN DEPARTMENTS THE SCENE OF MOST OF THE FIGHTING IN THE CIVIL WAR IN MATAGALPA WHERE MR SEQUEIRA GAVE A SPEECH SHORTLY BEFORE HIS DEATH JAIME CASTILLO THE AGRICULTURE MINISTRY'S REPESENTATIVE SAYS THAT ABOUT 50 OF FARMLANDS ARE IN DISPUTE HERE SANDINISTAS FEEL THAT TOO MUCH HAS BEEN MADE OF THE DEATH OF MR SEQUEIRA RICH PEOPLE DIE AND IT'S A BIG DEAL SAYS DANIEL NUNEZ A SANDINISTA DEPUTY AND HEAD OF THE NATIONAL FARMERS' UNION BUT THEY KILL A POOR MAN AND IT'S LIKE KILLING A DOG FARMERS BE THEY FORMER SANDINISTAS OR FORMER CONTRAS FEEL THREATENED BY THE MANY ARMED GROUPS ROAMING THE COUNTRY ALTHOUGH LAST YEAR ALONE THE NICARAGUAN GOVERNMENT BOUGHT BACK OR COLLECTED MORE THAN 20000 WEAPONS MOST OF THEM AK47S THE COUNTRY STILL BRISTLES WITH ARMS AND PEOPLE WHO KNOW HOW TO USE THEM WITH UNEMPLOYMENT AND UNDEREMPLOYMENT RUNNING AT 60 IT'S A DANGEROUS MIX MR IBARRA MR SEQUEIRA'S ALLEGED KILLER WAS NOT THE TYPICAL DISGRUNTLED SANDINISTA SOLDIER JUST HOW UNTYPICAL BRINGS TO MIND MANY TROUBLING QUESTIONS ABOUT THE RELATIONS BETWEEN THE ARMED FORCES LED BY A SANDINISTA GENERAL HUMBERTO ORTEGA AND AT LEAST SOME OF THE GROUPS OF REARMED SANDINISTAS THAT HAVE SPROUTED IN THE PAST THREE YEARS A FOUNDING MEMBER OF NICARAGUA'S INTERIOR MINISTRY MR IBARRA WAS SUPPOSEDLY IN ACTIVE RETIREMENT FROM THE ARMY AT THE TIME OF THE KILLING BUT WHETHER HE WAS STILL ON ACTIVE DUTY REMAINS UNCLEAR ACCORDING TO LINO HERNANDEZ HEAD OF A HUMANRIGHTS ORGANIZATION OPPOSED TO THE GOVERNMENT OFFICIAL LISTS OF RETIREES DO NOT CONTAIN MR IBARRA'S NAME ANTONIO LACAYO MRS CHAMORRO'S CHIEF OF STAFF SAYS THAT MR IBARRA WAS INDEED RETIRED AND THAT HIS NAME DOESN'T APPEAR BECAUSE HE WORKED IN STATE SECURITY THREE MONTHS AFTER MR SEQUEIRA'S KILLING A BEARDED UNIFORMED AND RIFLETOTING MR IBARRA CALLED A PRESS CONFERENCE IN THE MOUNTAINS OF NORTHERN NICARAGUA THIS TIME HE WAS AT THE HEAD OF ABOUT 30 UNIFORMED AND ARMED MEN WHOSE FACES WERE HIDDEN BEHIND BLACK BANDANNAS AND WHO MR IBARRA SAID IN A TELEVISION INTERVIEW BELONGED TO HIS ORGANIZATION THE LEFT PUNITIVE FRONT FROM HIS HIDEOUT MR IBARRA CALLED MR SEQUEIRA A US SPY HE SAID THE UNARMED CATTLEMAN HAD RESISTED A KIDNAPPING ATTEMPT AND BEEN EXECUTED BY MEMBERS OF HIS GROUP ALTHOUGH HE PERSONALLY HAD NOT BEEN PRESENT HE ADDED THAT THE LEFT PUNITIVE FRONT WOULD TAKE SIMILAR ACTION AGAINST OTHER OPPOSITION LEADERS MANY GOVERNMENT CRITICS SOME OF WHOM WERE NAMED BY MR IBARRA AS POTENTIAL TARGETS BELIEVE THAT MR SEQUEIRA WAS KILLED AS AN EXAMPLE TO OTHER FORMER OWNERS WHO ARE TRYING TO REGAIN PROPERTIES THEY BELIEVE HE WAS KILLED ON THE ORDERS OF LEADING SANDINISTAS WHO STILL CONTROL THE MILITARY AND THEY SAY THE BLAME COULD LIE WITH GEN ORTEGA WHO AS HEAD OF THE ARMED FORCES IS CONSIDERED BY MOST NICARAGUANS TO BE THE MOST POWERFUL PERSON IN THE COUNTRY MRS CHAMORRO SAYS SHE WILL MAKE GEN ORTEGA RETIRE NEXT YEAR GEN ORTEGA SAYS MRS CHAMORRO CAN'T ORDER HIS RETIREMENT THE GOVERNMENT STRONGLY DENIES ANY STATE INVOLVEMENT INCLUDING ANY BY GEN ORTEGA NO EVIDENCE HAS TURNED UP LINKING MR SEQUEIRA'S MURDER TO THE ARMY OR STATE SECURITY SAYS INTERIOR MINISTER ALFREDO MENDIETA BUT MANY PEOPLE INCLUDING SOME SANDINISTAS ARE UNCONVINCED ARGES SEQUEIRA WAS ASSASSINATED BY STATE SECURITY CONTENDS MR HASSAN THE FORMER SANDINISTA TO HIM IT'S ALMOST CERTAIN THAT THE DECISION CAME FROM THE HIGHEST SECURITY OFFICE IN THE LAND RAMIRO GUARDIAN PRESIDENT OF A LEADING BUSINESS GROUP THINKS ALONG THE SAME LINES WE ARE IN THE HANDS OF GANGSTERS AL CAPONES WHO ORDER KILLINGS HE SAYS BAYARDO ARCE A FORMER MEMBER OF THE SANDINISTA DIRECTORATE WHO NOW RUNS THE NEWSPAPER BARRICADA CALLS THE MURDER A POLITICAL ERROR BECAUSE OF THE DAMAGE IT HAS CAUSED SANDINISMO BUT WAS IT WRONG I'M NOT A PRIEST SAYS MR ARCE WAS IT A CRIME KILLING ANYBODY IS A CRIME HE ANSWERS IN JULY MR IBARRA AND TWO OTHERS WERE TRIED FOR MURDER IN ABSENTIA LIKE A LOT OF OTHER THINGS IN NICARAGUA THE VERDICT THAT EMERGED WASN'T CLEAR DESPITE MR IBARRA'S TELEVISED INTERVIEW WHICH THE PROSECUTION SAYS WAS UNDER NICARAGUAN LAW ENOUGH FOR A CONVICTION THE TRIAL ENDED IN A HUNG JURY ONE VOTE SHORT OF A GUILTY VERDICT BEFORE THE TRIAL MR RUEDA THE PROSECUTOR RECEIVED TWO DEATH THREATS DURING THE TRIAL THE LEFT PUNITIVE FRONT ISSUED A MANIFESTO WARNING JUDGES AND WITNESSES NOT TO LET THEMSELVES BE USED IN SUCH A DARK CAUSE MR RUEDA FEELS THE JURY WAS FULL OF TERROR FEAR OR FOR POLITICAL REASONS IN AUGUST SANDINISTA LAWMAKERS APPROVED AN AMNESTY LAW FOR SOME 1400 ARMED RECONTRAS AND RECOMPAS SANDINISTA LEGISLATIVE LEADERS AS WELL AS OPPOSITION CONGRESSMEN SAY THE AMNESTY INCLUDES MR IBARRA PRESIDENT CHAMORRO AND INTERIOR MINISTER MENDIETA SAY IT DOESN'T DEFENSE LAWYERS SAY THE THREE DEFENDANTS HAVE RECEIVED GOVERNMENT IDENTIFICATION CARDS SAYING THEY ARE COVERED BY THE AMNESTY BUT THE LAWYERS SAY THAT FOR THE MOMENT THE MEN ARE NOT ACCEPTING AMNESTY BECAUSE TO DO SO WOULD IMPLY GUILT IF MR IBARRA AND HIS CODEFENDANTS ARE FOUND GUILTY THE LAWYERS SAY THEY WILL AVAIL THEMSELVES OF THE AMNESTY AT LAST WORD MR IBARRA IS IN MANAGUA WHERE THE POLICE HAVE BEEN UNABLE TO FIND HIM BECAUSE HE REMAINS AT LARGE HIS SECOND TRIAL HAS ALSO HAD TO START WITHOUT HIM MR RUEDA THE PROSECUTOR HOPES THAT THIS TIME HE WILL OBTAIN A CONVICTION IN ANY EVENT A COMMEMORATIVE MASS IS SCHEDULED IN MANAGUA FOR NOV 23 THE FIRST ANNIVERSARY OF MR SEQUEIRA'S DEATH 9311120080 931112 POTOMAC WATCH ON NAFTA HOUSE GOP NEEDS GORE'S GUTS BY PAUL A GIGOT IN TROUNCING ROSS PEROT AL GORE DID REPUBLICANS A BIG FAVOR THIS WEEK BUT TRUE TO THEIR MINDSET AS A 40YEAR MINORITY HOUSE REPUBLICANS MAY YET TRY TO RESURRECT THE BILLIONAIRE BULLY DO REPUBLICANS WANT MR PEROT TO CONTINUE TO BE A FORCE IN AMERICAN POLITICS DO THEY RELISH IN 1996 A REPLAY OF 1992 OR MAYBE THE BUSH DEBACLE WASN'T ENOUGH AND THEY'RE LOOKING FOR A CATASTROPHE OF THE MAGNITUDE THAT STRUCK THE CANADIAN TORIES LAST MONTH IF SO HOUSE REPUBLICANS SHOULD DEFEAT THE NORTH AMERICAN FREE TRADE AGREEMENT RESTORE MR PEROT'S REPUTATION FOR CLOUT AND RISK SPLITTING THEIR VOTER COALITION DOWN THE MIDDLE GO AHEAD REELECT BILL CLINTON IF THIS SEEMS HARSH IT ONLY FITS THE PEROTCHIALISM THAT IS AFFLICTING HOUSE REPUBLICANS ON NAFTA AFTER MR GORE'S SMILING DISSECTION OF BOSS ROSS PRESIDENT CLINTON IS ALMOST CERTAIN TO GET 100 HOUSE DEMOCRATS TO SUPPORT THE ACCORD BUT DESPITE THE BEST EFFORTS OF LEADERS NEWT GINGRICH GA AND DICK ARMEY TEXAS THE GOP RANK AND FILE ARE NOW BALKING AT PROVIDING THE 120 VOTES THAT SHOULD BE THEIR SIDE OF THE BARGAIN REPUBLICANS WHO THINK A NAFTA LOSS WILL TARNISH ONLY DEMOCRATS MAY WANT TO THINK AGAIN REPUBLICAN EXCUSES ARE ABOUT AS DEEP AS MR PEROT'S ECONOMIC LOGIC TAKE JOHN DOOLITTLE A SECONDTERMER FROM NORTHERN CALIFORNIA WHO SUPPORTED NAFTA AS NEGOTIATED BY GEORGE BUSH I'M COMMITTED TO THE IDEAL OF FREE TRADE HE TOLD THE SACRAMENTO BEE BUT AFTER PAINSTAKING ANALYSIS HE NOW OPPOSES NAFTA BECAUSE THE SIDE AGREEMENTS NEGOTIATED BY MR CLINTON SOMEHOW THREATEN US SOVEREIGNTY BY GIVING POWER TO INTERNATIONAL BUREAUCRATS MORE LIKELY THE ONLY THING MR DOOLITTLE HAS ANALYZED IS THE FACT THAT MR PEROT WON 25 OF THE VOTE IN HIS DISTRICT LAST YEAR THIS SOVEREIGNTY LINE IS POPULAR AMONG MANY REPUBLICANS SINCE IT OFFERS THEM A FIG LEAF OF PRINCIPLE TO COVER THEIR PUSILLANIMITY THEY DON'T SEEM TO CARE THAT THIS EXCUSE CONCOCTED BY MERCEDESDRIVING PROTECTIONIST PAT BUCHANAN HAS BEEN DEBUNKED BY SUCH NOTORIOUS LEFTWINGERS AS THE CATO INSTITUTE THE HERITAGE FOUNDATION AND ROBERT BORK ED ROYCE A HERETOFORE IMPRESSIVE FRESHMAN FROM ORANGE COUNTY CALIF EVEN MUMBLES ABOUT AN AMERICAN MAASTRICHT WHICH REFERS TO THE BIG BRITISH FIGHT OVER EUROPEAN INTEGRATION YET MARGARET THATCHER WHO LED THE FIGHT AGAINST MAASTRICHT HAS ENDORSED NAFTA SORRY MR ROYCE PAT BUCHANAN IS NO DENIS THATCHER MUCH LESS A MAGGIE SOME REPUBLICANS SEEM BENT ON DISPROVING THE ADAGE THAT AN HONEST POLITICIAN STAYS BOUGHT FLORIDA MEMBERS BALKED AT TARIFF REDUCTIONS FOR CITRUS AND VEGETABLES SO MR CLINTON CUT SOME DEALS THEN THEY ASKED MR CLINTON TO QUIET THE FLORIDA AGRICULTURE COMMISSIONER WHICH HE DID YET THESE REPUBLICANS ARE STILL HOLDING OUT AND TOM LEWIS WHO HOLDS THE SAFE SEAT FROM PALM BEACH EVEN CALLED A PRESS CONFERENCE TO ASSERT THAT RIGHT NOW MY VOTE IS NO BUT THAT THE DOOR IS AJAR WHAT'S REALLY AJAR IS THE DOOR TO HIS POLITICAL BROTHEL OTHER PROFILES IN PRINCIPLE INCLUDE TWO CUBANAMERICANS FROM FLORIDA ILEANA ROSLEHTINEN AND LINCOLN DIAZBALART THEIR GRIPE IS WITH MEXICO'S INSUFFICIENT HOSTILITY TOWARD FIDEL CASTRO THUS THEY'VE CONCLUDED THAT THE BLESSINGS OF ECONOMIC LIBERTY CUBANS HAVE ENJOYED IN AMERICA AFTER 1959 SHOULDN'T BE SHARED WITH OTHER LATINOS THEN THERE'S RICK SANTORUM THE LOUD REFORMER FROM PENNSYLVANIA HE'S AFRAID THAT A YES VOTE WILL DOOM HIS 1994 RUN AGAINST SEN HARRIS WOFFORD AS IF HE COULD EVER OUTBID THE DEMOCRAT AS A PROTECTIONIST DAN BURTON FROM HIS SAFE 72 INDIANA SEAT IS SHOUTING SO LOUDLY ABOUT HOW NAFTA WOULD HURT MIDWEST AGRICULTURE THAT HE'S MAKING LIFE DIFFICULT FOR HIS NEIGHBORING REPUBLICAN STEVE BUYER WHO WANTS TO VOTE YES YET EVERYONE WHO'S STUDIED THE PACT KNOWS THAT MIDWEST FARMERS WOULD DO VERY WELL UNDER NAFTA AND FRED UPTON A FOURTERMER AND WHIRLPOOL HEIR FROM MICHIGAN ISN'T EVEN A PROFILE ON NAFTA THOUGH THREE GOP FRESHMEN FROM THAT STATE WILL VOTE AYE ALL OF THIS IS FAMILIAR AND DEPRESSING BECAUSE IT SOUNDS SO MUCH LIKE HOUSE DEMOCRATS BY REFUSING TO STAND UP FOR WHAT MOST CLAIMED TO BELIEVE ONLY LAST YEAR HOUSE REPUBLICANS WOULD ONLY CONVINCE VOTERS IT MAKES NO DIFFERENCE WHO IS ELECTED LIKE THE EGREGIOUS ED ROLLINS WHO COULDN'T HELP BOASTING ABOUT HIS GENIUS IN ELECTING CHRISTIE WHITMAN IN NEW JERSEY REPUBLICANS WOULD ONLY REINFORCE VOTER CYNICISM THE FEAR OF PEROT IS UNDERSTANDABLE BUT OVERWROUGHT BECAUSE NAFTA WILL HARDLY BE THE ONLY ISSUE CONTESTED IN THE 1994 ELECTIONS ARE PEROT VOTERS REALLY GOING TO RUN THIRDPARTY CANDIDATES THUS DIVIDING THE GOP VOTE AND GUARANTEEING ELECTION OF THE SAME DEMOCRATIC HOUSE MAJORITY IN ANY EVENT THIS POSSIBILITY IS DIMINISHED IF MR PEROT IS DIMINISHED MORE BROADLY A STRONG VOTE FOR NAFTA KEEPS REPUBLICANS AS A PARTY OF GROWTH AND OPTIMISM IT REACHES OUT TO NEW VOTERS ESPECIALLY MEXICANAMERICANS WHO HAVE EMBRACED NAFTA AND WHO HAVE SHOWN INCREASING WILLINGNESS TO VOTE FOR REPUBLICANS HENRY BONILLA A REPUBLICAN WHO REPRESENTS THE TEXAS BORDER SAYS YOU CAN'T FIND HOUSING IN LAREDO THE PLACE IS GROWING SO FAST HELPING MR CLINTON ON THIS ISSUE OF PRINCIPLE ALSO MAKES REPUBLICANS MORE CREDIBLE WHEN THEY WANT TO OPPOSE HIM ON ANOTHER AS WITH HEALTH CARE BY EXPOSING MR PEROT'S INTELLECTUAL PRETENSE AL GORE HAS RAISED THE NAFTA STAKES FOR EVERYONE IF NAFTA FAILS NOW HOUSE REPUBLICANS WILL SHARE THE BLAME 9311120079 931112 BUSINESS BRIEF PROCTER & GAMBLE CO FISHER NUTS PLANT TO BE SHUT AS PART OF BIGGER CUTBACK PROCTER & GAMBLE CO CINCINNATI SAID IT WILL CLOSE ITS ST PAUL MINN FISHER NUTS PLANT WHICH EMPLOYS 288 WORKERS IT IS ONE OF P&G'S TWO FISHER NUTS PLANTS THE OTHER IS IN EDENTON NC THE CLOSING IS PART OF P&G'S PLAN TO CUT 13000 JOBS OR 12 OF ITS WORK FORCE AND SHUTTER ABOUT 30 OF ITS 147 PLANTS OVER THE NEXT FEW YEARS P&G SAID PRODUCTION AT THE ST PAUL FACILITY WILL BE ASSUMED BY CONTRACT MANUFACTURERS SHE SAID SOME WORKERS WILL HAVE AN OPPORTUNITY TO RELOCATE TO OTHER P&G PLANTS AND OTHERS WILL RECEIVE SEVERANCE PACKAGES WHICH THE COMPANY IS NEGOTIATING WITH UNION REPRESENTATIVES STEPHEN P DONOVAN PRESIDENT OF P&G'S FOOD AND BEVERAGE UNIT SAID THAT WHILE THE COMPANY REMAINS COMMITTED TO ITS SNACK NUTS BUSINESS WE NEED TO LOWER OUR COSTS IF WE'RE GOING TO BE SUCCESSFUL LONGTERM 9311120078 931103 ENTERPRISE FOCUS ON FRANCHISING FRANCHISESHOW ORGANIZERS DRAW REGULATORS' ATTENTION BY JEFFREY A TANNENBAUM STAFF REPORTER OF THE WALL STREET JOURNAL FEDERAL REGULATORS THREATEN A CRACKDOWN ON FRANCHISESHOW ORGANIZERS FTC RULES BAR FRANCHISERS AND THEIR BROKERS FROM MAKING LOOSE CLAIMS TO PROSPECTIVE FRANCHISEES ABOUT THE SALES AND EARNINGS OF FRANCHISES FRANCHISERS MUST EITHER MAKE FORMAL DOCUMENTED CLAIMS OR STAY SILENT BUT INDUSTRY INSIDERS SAY TONGUES OFTEN LOOSEN UP AT FRANCHISING SHOWS WHERE PROSPECTIVE FRANCHISEES EAGER TO KNOW HOW MUCH MONEY THEY MIGHT MAKE MEET SELLERS OF FRANCHISES THE FTC WHICH RARELY SIGNALS ITS ENFORCEMENT MOVES MADE AN EXCEPTION RECENTLY SAY INDIVIDUALS WHO ATTENDED AN AMERICAN BAR ASSOCIATION FORUM IN DALLAS THEY SAY THE ASSOCIATE DIRECTOR OF THE AGENCY'S MARKETINGPRACTICES DIVISION EILEEN HARRINGTON TOLD THEM SHE EXPECTS THE FTC TO SUE ONE OR MORE SHOW ORGANIZERS SHE DIDN'T NAME ANY THE FTC WILL CONTEND THAT THE ORGANIZERS ARE BROKERS WHO FLOUT DISCLOSURE RULES AUDIENCE MEMBERS CONCLUDED IN WASHINGTON MS HARRINGTON CONFIRMS THAT FTC AND STATE REGULATORS ARE INVESTIGATING SUCH ORGANIZERS AND MAY SUE ONE OR MORE BUT SHE ADDS I CAN'T SAY WHAT THE COMMISSION IS GOING TO DO AS THE BESTKNOWN ORGANIZER OF FRANCHISE SHOWS NICK HELYER OF LONDONBASED BLENHEIM GROUP SAYS OF FTC OFFICIALS IF THEY WERE GOING TO GO AFTER ANYBODY THEY'D HAVE TO GO AFTER US WHILE HE SAYS HE ISN'T AWARE OF ANY FTC PLANS TO CHALLENGE BLENHEIM HE ADDS THAT HIS LAWYERS ARE PREPARED TO DUKE IT OUT IF NECESSARY I'M SATISFIED THAT WE'RE NOT IN BREACH OF ANYTHING HE SAYS THE FTC HAS BEEN UNDER PRESSURE FROM FRANCHISEES TO TAKE MORE ACTIONS AGAINST FRANCHISE ABUSE CAJUN JOE'S UNITS LOSE MONEY WITH ALARMING FREQUENCY BUYERS SAY FRANCHISEES FOR MORE THAN 330 OF THE 400 CHICKEN RESTAURANTS SET UP SINCE 1989 BY CAJUN JOE'S DEVELOPMENT CORP LOST AT LEAST 75000 EACH BEFORE CLOSING OR SELLING THEIR UNITS 26 FORMER FRANCHISEES CLAIM IN ARBITRATION PROCEEDINGS THE 26 HAVE INITIATED THE PROCEEDINGS IN BOSTON TO SEEK MORE THAN 5 MILLION IN DAMAGES FROM THE MILFORD CONN FRANCHISER THE HIGH INCIDENCE OF ALLEGED PROBLEMS IS STRIKING FRANCHISE MARKETERS GENERALLY CLAIM THAT FRANCHISES RUN INTO SERIOUS DIFFICULTIES MUCH LESS FREQUENTLY THAN COMPLETELY INDEPENDENT BUSINESSES EVERYTHING THAT WAS DONE BY THE FRANCHISER WAS DONE WRONG SAYS HAROLD BROWN A BOSTON LAWYER FOR THE 26 CLAIMANTS THE FRANCHISES RAN INTO TROUBLE LARGELY BECAUSE CAJUN JOE'S ABRUPTLY CHANGED EQUIPMENT SPECIFICATIONS ALMOST DOUBLING THE COST OF EQUIPMENT TO NEARLY 100000 MR BROWN SAYS ALSO TRAINING AND SITESELECTION WERE INADEQUATE HE ADDS IN A FILING WITH THE AMERICAN ARBITRATION ASSOCIATION THE 26 CLAIMANTS ACCUSE CAJUN JOE'S OF FRAUD BREACH OF CONTRACT AND OTHER WRONGDOING THE COMPANY IS CONTESTING THE CHARGES FRANCHISER CAJUN JOE'S IS RUN BY THE SAME INDIVIDUALS WHO RUN DOCTOR'S ASSOCIATES INC FRANCHISER OF THE HUGE SUBWAY SANDWICHES & SALADS CHAIN SOME CLAIMANTS SAY THEY HAD SOUGHT TO BUY FRANCHISES IN SUBWAY ONLY TO BE STEERED BY DOCTOR'S TO LITTLEKNOWN CAJUN JOE'S A CAJUN JOE'S SPOKESMAN SAYS ONLY THAT MR BROWN HAS MADE INACCURATE AND MISLEADING STATEMENTS ANOTHER CHICKEN CHAIN HOPES TO CAPITALIZE ON A HEALTH TREND THE MARKET FOR NEW STOCK ISSUES HAS BEEN RED HOT AND NOW BOSTON CHICKEN INC A FASTGROWING CHAIN BASED NOT IN BOSTON BUT IN NAPERVILLE ILL HOPES TO RAISE MORE THAN CHICKENFEED THE COMPANY AIMS TO SELL BETWEEN 24 MILLION AND 30 MILLION IN STOCK THROUGH A PUBLIC OFFERING TO BE UNDERWRITTEN BY MERRILL LYNCH & CO AND ALEX BROWN INC SHARE SALES TO EXECUTIVES WOULD RAISE THE OVERALL PROCEEDS TO AS MUCH AS 375 MILLION TO BE USED FOR OPENING STORES AND REPAYING DEBT IN BUILDING ITS BUSINESS THE COMPANY IS COUNTING ON ITS ROTISSERIEROASTED CHICKEN WHICH APPEALS TO HEALTHCONSCIOUS PEOPLE AVOIDING FRIED FOOD MOREOVER WHILE MOST FASTFOOD CHAINS ARE STRUGGLING TO OPEN ADDITIONAL OUTLETS IN SATURATED MARKET SEGMENTS BOSTON CHICKEN HAS RELATIVELY FEW COMPETITORS IN ITS FRESH NICHE ALTHOUGH MORE ARE IN THE WINGS SAYS CONSULTANT DONALD D BOROIAN IN OLYMPIA FIELDS ILL THE CHAIN HAS TRIPLED IN SIZE TO 175 UNITS IN THE PAST YEAR AND EXPECTS TO REACH 400 BY THE END OF NEXT YEAR A PRELIMINARY PROSPECTUS FOR THE OFFERING SAYS OF THOSE NOW OPERATING 147 ARE RUN BY FRANCHISEES THE NEW INVESTORS WHO WOULD WIND UP WITH LESS THAN A 10 STAKE IN THE FRANCHISER WOULD PAY AT LEAST 15 A SHARE COMPARED WITH AN AVERAGE OF LESS THAN 3 PAID BY MOST EXISTING INVESTORS HIDE AND GO SEEK MAIL BOXES PLAINTIFFS INVITE ANONYMOUS BACKERS SMALL FRANCHISEES IN MANY CHAINS HAVE LONG WONDERED HOW THEY COULD AFFORD TO SUE A BIG RICH FRANCHISER NOW SOME PLAINTIFFS AGAINST MAIL BOXES ETC THINK THEY HAVE AN ANSWER A LEGAL STRATEGY THAT HAS BEEN LITTLE USED IN FRANCHISING CASES NINE CURRENT OR FORMER FRANCHISEES RECENTLY SUED MAIL BOXES IN SAN DIEGO FEDERAL COURT THE COMPANY ACCUSED OF FRAUDULENTLY INDUCING FRANCHISE SALES DENIES WRONGDOING TO FINANCE THE SUIT THE PLAINTIFFS' LAWYERS SET UP A TRUST FUNDED INITIALLY BY JUST THE PLAINTIFFS NOW THE TRUSTEES PLAINTIFFS MELANIE HELM GENE SWANZY AND SHARON SISKPLAN TO ASK HUNDREDS OF OWNERS OF MAIL BOXES FRANCHISES TO CHIP IN MONEY AT LEAST 500 EACH INITIALLY IN EFFECT PARTICIPANTS WOULD BE BUYING A PIECE OF ANY EVENTUAL SETTLEMENT OR AWARD IN FAVOR OF THE PLAINTIFFS SIGNIFICANTLY THE TRUSTEES PROMISE TO KEEP CONFIDENTIAL THE IDENTITY OF ANY PARTICIPANTS WHO DESIRE ANONYMITY ROBERT L PURVIN JR AN ATTORNEY FOR THE PLAINTIFFS SAYS FEAR OF RETALIATION BY THEIR FRANCHISERS PREVENTS MANY DISGRUNTLED FRANCHISEES FROM PRESSING GRIEVANCES MR SWANZY SAYS HE EXPECTS SUPPORT FROM 50 OR MORE FRANCHISEES ANONYMITY WILL BE A MAJOR FACTOR WITH MOST OF THEM HE ADDS IN A LETTER THIS MONTH MAIL BOXES TOLD FRANCHISEES THAT LAWSUITS WASTE TIME AND MONEY WE HOPE YOU WILL WORK WITH US TO ACHIEVE OUR GOAL OF REDUCING IF NOT ELIMINATING LITIGATION FROM OUR SYSTEM SAID ANTHONY W DESIO PRESIDENT MAIL BOXES SAID IT AIMS TO DEVELOP A DISPUTERESOLUTION PROCESS THAT AVOIDS LAWSUITS BRIEFS GRAND METROPOLITAN PLC PARENT OF BURGER KING HAAGENDAZS AND THE PEARLE VISION CENTERS INVITES OTHER COMPANIES TO JOIN KAPOW OR KIDS AND THE POWER OF WORK A PROGRAM THAT AIMS TO TEACH GRADESCHOOL PUPILS ABOUT BUSINESS THE INTERNATIONAL FRANCHISE ASSOCIATION'S NEW WOMEN'S FRANCHISE NETWORK AIMS TO CREATE MORE OPPORTUNITIES IN THE FIELD FOR WOMEN FRANCHISESHOW ORGANIZER NICK HELYER AN OFFICIAL OF BLENHEIM GROUP SAID THE CONCERN'S LAWYERS HAVEN'T DECIDED HOW THEY MIGHT RESPOND TO ANY CHALLENGE BY THE FEDERAL TRADE COMMISSION WHICH IS LOOKING INTO DISCLOSURE ISSUES AT FRANCHISE SHOWS HE SAID A PARAPHRASE IN THE FOCUS ON FRANCHISING COLUMN NOV 3 SAYING THE LAWYERS WERE PREPARED TO DUKE IT OUT IF NECESSARY MISCONSTRUED HIS POSITION 9311120077 931112 CORRECTIONS & AMPLIFICATIONS FRANCHISESHOW ORGANIZER NICK HELYER AN OFFICIAL OF BLENHEIM GROUP SAID THE CONCERN'S LAWYERS HAVEN'T DECIDED HOW THEY MIGHT RESPOND TO ANY CHALLENGE BY THE FEDERAL TRADE COMMISSION WHICH IS LOOKING INTO DISCLOSURE ISSUES AT FRANCHISE SHOWS HE SAID A PARAPHRASE IN THE FOCUS ON FRANCHISING COLUMN NOV 3 SAYING THE LAWYERS WERE PREPARED TO DUKE IT OUT IF NECESSARY MISCONSTRUED HIS POSITION MONSANTO CO EXPECTS TO RECORD A SMALL GAIN FROM A PLANNED SALE OF TWO CHEMICAL LINES AN ARTICLE YESTERDAY INCORRECTLY REPORTED THAT THE SALE WOULD RESULT IN A LOSS FOR WHICH A RESERVE HAD PREVIOUSLY BEEN MADE RUSHPRESBYTERIANST LUKE'S MEDICAL CENTER IS LOCATED IN CHICAGO AN ARTICLE YESTERDAY ABOUT RESEARCH ON KIDNEY DISEASE IN DIABETES PATIENTS INCORRECTLY SAID THE CENTER IS IN IOWA CITY IOWA ECI TELECOM LTD'S THIRDQUARTER EARNINGS OF 22 CENTS A SHARE AFTER ADJUSTING FOR A 2FOR1 STOCK SPLIT PAYABLE TODAY WERE BETTER THAN THE AVERAGE OF FOUR ANALYSTS' ESTIMATES OF 21 CENTS A SHARE RESULTING IN A POSITIVE EARNINGS SURPRISE OF 48 BECAUSE OF AN ERROR IN THE ZACKS INVESTMENT RESEARCH DATABASE ECI TELECOM WAS INCORRECTLY SHOWN AS A NEGATIVE SURPRISE IN THE QUARTERLY EARNINGS SURPRISES TABLE TUESDAY 9311120076 931112 BUSINESS BRIEF ROGERS COMMUNICATIONS INC A CHARGE OF 765 MILLION IS POSSIBLE IN FOURTH QUARTER ROGERS COMMUNICATIONS INC SAID IT MAY RECORD A FOURTHQUARTER CHARGE OF ABOUT 100 MILLION CANADIAN DOLLARS US765 MILLION AS A RESULT OF RESTRUCTURING INITIATIVES UNDER CONSIDERATION BY 32OWNED UNITEL COMMUNICATIONS INC UNITEL WHICH CANADIAN REGULATORS RECENTLY ALLOWED TO OFFER LONGDISTANCE TELEPHONE SERVICE ACROSS CANADA IN COMPETITION WITH LOCAL PHONE COMPANIES THAT PREVIOUSLY HELD A MONOPOLY ON THE BUSINESS IS MULLING MAJOR INITIATIVES TO STRENGTHEN ITS COMPETITIVE AND FINANCIAL POSITION ROGERS SAID UNITEL OFFICIALS COULDN'T BE REACHED FOR COMMENT ITS TWO OTHER SHAREHOLDERS ARE MONTREALBASED CANADIAN PACIFIC LTD WHICH HAS A 48 STAKE IN THE TELECOMMUNICATIONS CONCERN AND AMERICAN TELEPHONE & TELEGRAPH CO WHICH ACQUIRED A 20 INTEREST LAST JANUARY 9311120075 931112 POLITICS & POLICY ROLLINS MAY HAVE TO TESTIFY UNDER OATH ON GOP ACTIONS IN NEW JERSEY ELECTION BY MILO GEYELIN AND DOROTHY J GAITER STAFF REPORTERS OF THE WALL STREET JOURNAL NEW JERSEY DEMOCRATS MAY BE ABLE TO REQUIRE EDWARD J ROLLINS AND OTHERS TO TESTIFY UNDER OATH WHETHER LAWS WERE VIOLATED IN GOVELECT CHRISTINE TODD WHITMAN'S NARROW VICTORY LAST WEEK MR ROLLINS CAMPAIGN MANAGER FOR MRS WHITMAN TOLD REPORTERS TUESDAY THAT THE WHITMAN CAMPAIGN HAD FUNNELED ABOUT 500000 TO BLACK MINISTERS AND DEMOCRATIC ORGANIZERS TO SUPPRESS DEMOCRATIC TURNOUT FOR HER OPPONENT GOV JIM FLORIO THE NEXT DAY MRS WHITMAN VEHEMENTLY DENIED THAT SUCH MONEY HAD BEEN PAID AND MR ROLLINS DISAVOWED HIS STATEMENT AS AN EXAGGERATION THAT TURNED OUT TO BE INACCURATE YESTERDAY A LEADING BLACK CLERGYMAN IN NEW JERSEY SAID THAT HE WAS TOLD BY THE EXECUTIVE DIRECTOR OF THE BLACK MINISTERS COUNCIL OF NEW JERSEY THAT FIVE OR SIX MINISTERS HAD DISCLOSED THAT THEY WERE APPROACHED BY REPUBLICANS IN SUCH A BID TO SUPPRESS BLACK VOTES BUT THE EXECUTIVE DIRECTOR LATER DENIED HE MADE SUCH A STATEMENT NEW JERSEY HAS A UNIQUE TWIST IN ITS ELECTION HISTORY THAT MAY ENABLE DEMOCRATS TO CUT THROUGH THE CONFUSION IN THE 1981 GUBERNATORIAL CAMPAIGN WHICH MR FLORIO ALSO LOST THE DEMOCRATIC NATIONAL COMMITTEE WENT TO US DISTRICT COURT IN NEWARK TO PROTEST THE REPUBLICANFINANCED PLACEMENT OF BALLOT SECURITY GUARDS IN MINORITYAREA VOTING PRECINCTS THE GUARDS HAD WORN ARMBANDS AND CARRIED SIGNS WARNING THAT IMPROPERLY REGISTERED VOTERS WOULD BE PROSECUTED ARGUING THAT THE GUARDS INTIMIDATED VOTERS FROM CASTING BALLOTS DEMOCRATS WON A CONSENT AGREEMENT FROM THE REPUBLICAN NATIONAL COMMITTEE PROMISING TO REFRAIN FROM FUTURE BALLOT SECURITY ACTIVITIES AND OTHER PRACTICES THAT WOULD TURN AWAY MINORITY VOTERS THAT AGREEMENT STILL IN EFFECT NOW GIVES DEMOCRATS IMMEDIATE STANDING TO PRESS FOR THE COURT ORDER FROM US DISTRICT JUDGE DICKINSON R DEBEVOISE ALLOWING STATE DEMOCRATIC OFFICIALS TO TAKE DEPOSITIONS FROM MR ROLLINS AND OTHERS ON WHETHER THE CONSENT AGREEMENT WAS VIOLATED IN THE MOST RECENT ELECTION THE OFFICIALS SAID THEY PLAN TO SEEK COURT PERMISSION MONDAY TO TAKE THE DEPOSITIONS SUCH AN ORDER COULD BE EXTENDED TO REQUIRE MRS WHITMAN HERSELF TO GIVE TESTIMONY SAID JAN BARAN A FORMER GENERAL COUNSEL TO THE BUSH CAMPAIGN IN 1988 WHO WAS ALSO A GOP LEGAL ADVISER ON ELECTION ISSUES IT'S A NIGHTMARE JUST BECAUSE SOMEBODY WANTED TO BRAG ABOUT WINNING AN ELECTION MR BARAN SAID IN WASHINGTON MRS WHITMAN BEAT GOV FLORIO BY ABOUT 30000 VOTES OUT OF NEARLY 25 MILLION CAST VOTES FOR GOV FLORIO IN URBAN DEMOCRATIC AREAS WERE ABOUT 20000 LESS THAN IN 1989 WHEN HE WAS ELECTED TO HIS FIRST TERM YESTERDAY THE REV KEITH OWENS OF CAIN AVENUE BAPTIST CHURCH IN CAMDEN SAID THAT HE HAD BEEN INFORMED THAT SOME BLACK CLERGYMEN HAD ACKNOWLEDGED BEING APPROACHED BY REPUBLICANS OFFERING MONEY BUT DR EDWARD VERNER EXECUTIVE DIRECTOR OF THE MINISTERS COUNCIL DENIED HE HAD TOLD THIS TO THE REV MR OWENS WHO IS CHAIRMAN OF THE COUNCIL'S POLITICAL ACTION COMMITTEE AND HAD HEADED MEETINGS OF ITS MEMBERS WITH BOTH CANDIDATES THE REV MR OWENS'S REVELATION WAS COMPLETELY NEWS TO ME DR VERNER SAID WE HAVEN'T DISCLOSED THEIR NAMES BECAUSE THEY WILL MORE THAN LIKELY BE PART OF THE FEDERAL PROBE THAT WILL TAKE PLACE THE REV MR OWENS SAID OF THE MINISTERS WE HAD URGED PEOPLE TO COME FORTH IF THEY HAD IN FACT BEEN APPROACHED NOT IF THEY HAD ACCEPTED BUT AT LEAST IF THEY HAD BEEN APPROACHED AND THIS AFTERNOON THE EXECUTIVE DIRECTOR CALLED TO INFORM ME THAT CLERGYMEN WERE NOW COMING FORWARD THE REV MR OWENS SAID THAT A MEETING OF HIS POLITICAL ACTION COMMITTEE HAD BEEN CALLED FOR TODAY TO DISCUSS THE ISSUE AND THAT THE GROUP WANTED TO MEET WITH MRS WHITMAN AS SOON AS POSSIBLE NEXT WEEK SEVERAL STATE AND FEDERAL LAWS ARE AVAILABLE FOR DEMOCRATS TO PRESS COMPLAINTS ABOUT THE ELECTION IT IS UNLIKELY THAT VIOLATION OF ANY FEDERAL LAW COULD RESULT IN A NEW ELECTION UNLESS IT CAN BE PROVED NOT ONLY THAT PAYMENTS WERE MADE AND THAT THEY COST GOV FLORIO VOTES BUT THAT THEY COST HIM ENOUGH VOTES TO LOSE THE RACE SAID MR BARAN CARL STERN CHIEF SPOKESMAN FOR THE JUSTICE DEPARTMENT SAID THE GENERAL COUNSEL OF THE NEW JERSEY DEMOCRATIC PARTY CONTACTED THE DEPARTMENT WEDNESDAY AND THAT THE CIVIL RIGHTS DIVISION AND THE PUBLIC INTEGRITY SECTION OF THE CRIMINAL DIVISION ARE NOW STUDYING THE ALLEGATIONS WE ARE IN THE PROCESS OF REVIEWING THE MATTER TO SEE IF THERE IS A FEDERAL LAW THAT MIGHT APPLY HE SAID IT IS UNCLEAR WHETHER THERE WILL BE A FEDERAL INVESTIGATION HE ADDED BECAUSE NO FEDERAL OFFICE WAS INVOLVED AND FEDERAL LAWS PROHIBITING THREATS COERCION AND INTIMIDATION OF VOTERS MAY NOT BE RELEVANT IN ADDITION HE SAID THERE HAVEN'T BEEN ALLEGATIONS OF BRIBERY OF PUBLIC OFFICIALS OR OF VOTEBUYING AS FOR STATE LAW THE NEW JERSEY STATE ELECTION LAW ENFORCEMENT COMMISSION HAS JURISDICTION ONLY TO INVESTIGATE WHETHER CAMPAIGN SPENDING IS PROPERLY DISCLOSED AND REMAINS WITHIN THE LEGAL LIMIT NOT WHETHER IT WAS LEGALLY SPENT FINAL DISCLOSURES FROM THE WHITMAN CAMPAIGN ORGANIZATION HAVE NOT BEEN SUBMITTED BUT FAILURE TO DISCLOSE SPENDING TO DETER A BLACK TURNOUT IF IT OCCURRED COULD RESULT IN THE VOIDING OF THE ELECTION RESULTS UNDER NEW JERSEY LAW ACCORDING TO JAMES CARVILLE CHIEF CAMPAIGN STRATEGIST FOR GOV FLORIO ON THE OTHER HAND MR CARVILLE ADDED IF THIS MONEY APPEARS ON THE FINANCE REPORT THEN THEY HAVEN'T BUSTED THE LEGAL SPENDING CAP BUT IF IT DOES SHOW UP THEN WE'LL KNOW IT WAS SPENT SEVERAL GROUPS INCLUDING THE NAACP LEGAL DEFENSE AND EDUCATIONAL FUND INC ARE ALSO RESEARCHING POSSIBLE CIVIL AND CRIMINAL SANCTIONS UNDER FEDERAL CIVIL RIGHTS LAW AND VOTING RIGHTS LAWS AND POSSIBLE FEDERAL CONSPIRACY CHARGES THE LAW CLEARLY PROHIBITS VOTE BUYING SAID LEGALDEFENSE ATTORNEY PINA HARE WITH THE NATIONAL ASSOCIATION FOR THE ADVANCEMENT OF COLORED PEOPLE FUND IN WASHINGTON THE QUESTION IS WHETHER THE LAW ALSO PROHIBITS NONVOTE BUYING WE HAVE NOT SEEN IT ADDRESSED IN THE LAW VOTINGRIGHTS SPECIALIST LANI GUINIER AT THE UNIVERSITY OF PENNSYLVANIA LAW SCHOOL SAID THAT IF MR ROLLINS'S DISCLOSURE IS TRUE IT WOULD BE POSSIBLE TO ARGUE A VIOLATION OF THE VOTING RIGHTS ACT OF 1965 ON GROUND THAT THE EFFORT UNFAIRLY ENHANCED THE VOTING STRENGTH OF CERTAIN GROUPS BY ENCOURAGING OTHER GROUPS NOT TO PARTICIPATE THAT AGUMENT SHE ADDED WOULD BE VERY VERY DIFFICULT UNLESS IT COULD BE SHOWN THAT PAYMENTS TO DISSUADE VOTERS FROM VOTING WERE MADE DIRECTLY TO THEM MS GUINIER WAS DROPPED AS PRESIDENT CLINTON'S CHOICE TO HEAD THE CIVIL RIGHTS DIVISION OF THE JUSTICE DEPARTMENT BECAUSE OF CONTROVERSY OVER HER VIEWS SEPARATELY AN ANALYSIS OF EXIT POLLING CONDUCTED BY VOTER RESEARCH AND SURVEYS STRONGLY SUGGESTS THAT MR FLORIO WOULD HAVE WON REELECTION AS NEW JERSEY'S GOVERNOR IF BLACK TURNOUT BEEN HIGHER MR FLORIO GOT 75 OF THE BLACK VOTE IN LAST WEEK'S BALLOTING BUT THE SIZE OF THE BLACK VOTE WAS DOWN SUBSTANTIALLY FALLING TO 8 OF THE STATE TOTAL FROM 12 OF THE TOTAL IN THE LAST GOVERNOR'S RACE IN 1989 GERALD F SEIB CONTRIBUTED TO THIS ARTICLE