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( S ( NP-SBJ ( DT This ) ( NN cushion ) ) ( VP ( MD could ) ( VP ( VB come ) ( PP-CLR ( IN in ) ( ADJP ( JJ handy ) ) ) ( SBAR-ADV ( IN if ) ( S ( NP-SBJ-1 ( NNP GM ) ) ( VP ( VBZ has ) ( S ( VP ( TO to ) ( VP ( VB trim ) ( NP ( JJ fourth-quarter ) ( ADJP ( JJ North ) ( JJ American ) ) ( NN production ) ( NNS schedules ) ) ( ADVP ( ADVP ( RBR more ) ) ( PP ( IN than ) ( NP ( DT the ) ( ADJP ( RB already ) ( VBN scheduled ) ) ( CD 9.5 ) ( NN % ) ) ) ) ) ) ) ) ) ) ) ) )

This cushion could come in handy if GM has to trim fourth-quarter North American production schedules more than the already scheduled 9.5 %

( S ( S-TPC-2 ( PP-LOC ( IN Under ) ( NP ( DT the ) ( NNS circumstances ) ) ) ( NP-SBJ ( NP ( PRP it ) ) ) ( VP ( MD wo ) ( RB n't ) ( VP ( VB be ) ( ADJP-PRD ( JJ easy ) ) ( SBAR-1 ( IN for ) ( S ( NP-SBJ ( NNP GM ) ) ( VP ( TO to ) ( VP ( VB exceed ) ( NP ( NP ( PRP$ its ) ( JJ record ) ( CD 1988 ) ( JJ fourth-quarter ) ( NN net ) ) ( PP ( IN of ) ( NP ( QP ( CD 1.4 ) ( CD billion ) ) ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN spokesman ) ) ( VP ( VBD acknowledged ) ) )

Under the circumstances it wo n't be easy for GM to exceed its record 1988 fourth-quarter net of 1.4 billion the spokesman acknowledged

( S ( NP-SBJ ( DT That ) ) ( VP ( VBZ means ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ 's ) ( ADJP-PRD ( JJ unlikely ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( MD will ) ( VP ( VB surpass ) ( NP ( NP ( JJ last ) ( NN year ) ( POS 's ) ) ( ADJP ( QP ( CD 4.9 ) ( CD billion ) ) ) ( JJ full-year ) ( NN profit ) ) ) ) ) ) ) ( SBAR-ADV ( RB even ) ( IN though ) ( S ( NP-SBJ ( NP ( NN net ) ) ( PP ( IN for ) ( NP ( DT the ) ( JJ first ) ( CD nine ) ( NNS months ) ) ) ) ( VP ( VBD was ) ( ADVP-PRD ( RB up ) ( NP ( CD 1.9 ) ( NN % ) ) ( PP ( TO to ) ( NP ( QP ( CD 3.52 ) ( CD billion ) ) ) ) ) ( PP ( IN on ) ( NP ( NP ( NN revenue ) ) ( PP ( IN of ) ( NP ( QP ( CD 95.57 ) ( CD billion ) ) ) ) ) ) ) ) ) ) ) ) ) )

That means it 's unlikely the company will surpass last year 's 4.9 billion full-year profit even though net for the first nine months was up 1.9 % to 3.52 billion on revenue of 95.57 billion

( S ( NP-SBJ ( PRP It ) ) ( VP ( VBD earned ) ( NP ( QP ( CD 3.46 ) ( CD billion ) ) ) ( PP ( IN on ) ( NP ( NP ( NN revenue ) ) ( PP ( IN of ) ( NP ( QP ( CD 91.21 ) ( CD billion ) ) ) ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( CD 1988 ) ( CD nine ) ( NNS months ) ) ) ) )

It earned 3.46 billion on revenue of 91.21 billion in the 1988 nine months

( S ( NP-SBJ ( NNP BLOCKBUSTER ) ( NNP ENTERTAINMENT ) ( NNP CORP. ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBD raised ) ( NP ( QP ( CD 92 ) ( CD million ) ) ) ( PP-CLR ( IN from ) ( NP ( NP ( DT an ) ( NN offering ) ) ( PP ( IN of ) ( NP ( JJ liquid ) ( NN yield ) ( NN option ) ( NNS notes ) ) ) ) ) ) ) ) ) )

BLOCKBUSTER ENTERTAINMENT CORP. said it raised 92 million from an offering of liquid yield option notes

( S ( S-TPC-3 ( NP-SBJ-2 ( NP ( DT The ) ( JJ gross ) ( NNS proceeds ) ) ( PP ( IN from ) ( NP ( NP ( DT the ) ( NN sale ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( NNS notes ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( VP ( MD will ) ( VP ( VB be ) ( ADJP-PRD ( JJ due ) ( PP-TMP ( IN on ) ( NP ( NNP Nov. ) ( CD 1 ) ( CD 2004 ) ) ) ) ) ) ) ) ) ) ) ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN used ) ( UCP-CLR ( S ( VP ( TO to ) ( VP ( VB reduce ) ( NP ( VBG existing ) ( NN debt ) ) ) ) ) ( CC and ) ( PP ( IN for ) ( NP ( JJ general ) ( JJ corporate ) ( NNS purposes ) ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NN company ) ) ( VP ( VBD said ) ) )

The gross proceeds from the sale of the notes which will be due on Nov. 1 2004 will be used to reduce existing debt and for general corporate purposes the company said

( S ( NP-SBJ-1 ( DT The ) ( NN debt ) ( NN reduction ) ) ( VP ( VBZ is ) ( VP ( VBN expected ) ( S ( VP ( TO to ) ( VP ( VB save ) ( NP ( DT the ) ( NAC-LOC ( NNP Fort ) ( NNP Lauderdale ) ( NNP Fla. ) ) ( NN home ) ( NN video ) ( NN concern ) ) ( NP ( NP ( QP ( RB about ) ( CD 2 ) ( CD million ) ) ) ( NP-ADV ( DT a ) ( NN year ) ) ( PP ( IN in ) ( NP ( NN interest ) ( NN expense ) ) ) ) ) ) ) ) ) )

The debt reduction is expected to save the Fort Lauderdale Fla. home video concern about 2 million a year in interest expense

( S ( NP-SBJ ( DT The ) ( JJ zero-coupon ) ( JJ subordinated ) ( NNS notes ) ) ( VP ( VBP have ) ( NP ( DT no ) ( JJ periodic ) ( NN interest ) ( NNS payments ) ) ) )

The zero-coupon subordinated notes have no periodic interest payments

( S ( NP-SBJ-1 ( DT Each ) ( NN note ) ) ( VP ( VBZ is ) ( VP ( VBG being ) ( VP ( VBN offered ) ( PP-CLR ( IN at ) ( NP ( NP ( CD 308.32 ) ) ( PP ( IN per ) ( NP ( ADJP ( CD 1,000 ) ) ( NN principal ) ( NN amount ) ) ) ( PP ( IN at ) ( NP ( NN maturity ) ) ) ) ) ( S-ADV ( VP ( VBG representing ) ( NP ( NP ( DT an ) ( CD 8 ) ( NN % ) ( NN yield ) ) ( PP ( TO to ) ( NP ( NN maturity ) ) ) ) ) ) ) ) ) )

Each note is being offered at 308.32 per 1,000 principal amount at maturity representing an 8 % yield to maturity

( S ( PP ( IN In ) ( NP ( NN addition ) ) ) ( NP-SBJ-1 ( DT each ) ( NN note ) ) ( VP ( MD can ) ( VP ( VB be ) ( VP ( VBN converted ) ( PP-CLR ( IN into ) ( NP ( NNP Blockbuster ) ( NNP Entertainment ) ( JJ common ) ( NN stock ) ) ) ( PP-CLR ( IN at ) ( NP ( NP ( DT a ) ( NN rate ) ) ( PP ( IN of ) ( NP ( NP ( CD 13.851 ) ( NNS shares ) ) ( PP ( IN per ) ( NP ( NN note ) ) ) ) ) ) ) ) ) ) )

In addition each note can be converted into Blockbuster Entertainment common stock at a rate of 13.851 shares per note

( S ( NP-SBJ ( NNP Merrill ) ( NNP Lynch ) ( NNP Capital ) ( NNP Markets ) ( NNP Inc. ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT the ) ( JJ sole ) ( NN underwriter ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN offering ) ) ) ) ) )

Merrill Lynch Capital Markets Inc. is the sole underwriter for the offering

( S ( NP-SBJ ( DT The ) ( NNS notes ) ) ( VP ( MD will ) ( VP ( VB have ) ( NP ( NP ( DT a ) ( NN principal ) ( NN amount ) ) ( PP ( IN of ) ( NP ( QP ( CD 300 ) ( CD million ) ) ) ) ) ( PP-TMP ( IN at ) ( NP ( NN maturity ) ) ) ) ) )

The notes will have a principal amount of 300 million at maturity

( S ( NP-SBJ ( NNP Blockbuster ) ( NNS shares ) ) ( VP ( VBD closed ) ( NP-TMP ( NN yesterday ) ) ( PP-CLR ( IN at ) ( NP ( CD 18.75 ) ) ) ( ADVP ( IN down ) ( NP ( CD 1.125 ) ) ) ( PP-LOC ( IN in ) ( NP ( NNP New ) ( NNP York ) ( NNP Stock ) ( NNP Exchange ) ( NN trading ) ) ) ) )

Blockbuster shares closed yesterday at 18.75 down 1.125 in New York Stock Exchange trading

( SBAR-HLN ( WHNP-1 ( WP WHO ) ) ( S ( VP ( VBZ 'S ) ( NP-PRD ( NN NEWS ) ) ) ) )

WHO 'S NEWS

( S ( NP-SBJ ( NNP Arthur ) ( NNP Price ) ) ( VP ( VBD resigned ) ( PP-CLR ( IN as ) ( NP ( NP ( NP ( NN president ) ) ( CC and ) ( NP ( JJ chief ) ( JJ executive ) ( NN officer ) ) ) ( PP ( IN of ) ( NP ( NP ( NNP MTM ) ( NNP Enterprises ) ( NNP Inc. ) ) ( NP ( DT a ) ( NAC-LOC ( NNP Studio-City ) ( NNP Calif. ) ) ( NN entertainment ) ( NN concern ) ) ) ) ) ) ) )

Arthur Price resigned as president and chief executive officer of MTM Enterprises Inc. a Studio-City Calif. entertainment concern

( S ( NP-SBJ ( PRP He ) ) ( VP ( VBD co-founded ) ( NP ( DT the ) ( NN company ) ) ( PP ( IN with ) ( NP ( NP ( NNP Grant ) ( NNP Tinker ) ) ( CC and ) ( NP ( NNP Mary ) ( NNP Tyler ) ( NNP Moore ) ) ) ) ( PP-TMP ( IN in ) ( NP ( CD 1969 ) ) ) ) )

He co-founded the company with Grant Tinker and Mary Tyler Moore in 1969

( S ( NP-SBJ ( NNP MTM ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT a ) ( NN unit ) ) ( PP ( IN of ) ( NP ( NP ( JJ British-based ) ( NNP TVS ) ( NNP Entertainment ) ( NNP PLC ) ) ( SBAR ( WHNP-1 ( WHNP ( WP$ whose ) ( JJ chief ) ( JJ executive ) ( NN officer ) ) ( NP ( NNP James ) ( NNP Gatward ) ) ) ( S ( VP ( MD will ) ( VP ( VB oversee ) ( NP ( DT the ) ( NN company ) ) ( SBAR-TMP ( IN until ) ( S ( NP-SBJ-2 ( DT a ) ( NN successor ) ) ( VP ( VBZ is ) ( VP ( VBN named ) ) ) ) ) ) ) ) ) ) ) ) ) )

MTM is a unit of British-based TVS Entertainment PLC whose chief executive officer James Gatward will oversee the company until a successor is named

( S ( PP ( IN In ) ( NP ( NP ( NN search ) ) ( PP ( IN of ) ( NP ( NP ( NNS buyers ) ) ( PP ( IN for ) ( NP ( NP ( JJ upscale ) ( NN department-store ) ( NNS chains ) ) ( PP ( JJ such ) ( IN as ) ( NP ( NP ( NNP Bloomingdale ) ( POS 's ) ) ( CC and ) ( NP ( NNP Saks ) ( NNP Fifth ) ( NNP Avenue ) ) ) ) ) ) ) ) ) ) ( NP-SBJ ( NN investment ) ( NNS bankers ) ) ( VP ( VBP are ) ( VP ( VBG turning ) ( PP ( TO to ) ( PRN ( FRAG ( WP who ) ( RB else ) ) ) ( NP ( DT The ) ( NNPS Japanese ) ) ) ) ) )

In search of buyers for upscale department-store chains such as Bloomingdale 's and Saks Fifth Avenue investment bankers are turning to who else The Japanese

( S ( CC But ) ( ADVP-TMP ( IN so ) ( RB far ) ) ( NP-SBJ-1 ( NP ( NNP Japan ) ( POS 's ) ) ( JJ cash-rich ) ( NNS retailers ) ) ( VP ( VBP are ) ( VP ( VBG proving ) ( S ( VP ( TO to ) ( VP ( VB be ) ( NP-PRD ( JJ cautious ) ( NNS shoppers ) ) ) ) ) ) ) )

But so far Japan 's cash-rich retailers are proving to be cautious shoppers

( S ( NP-SBJ ( PRP We ) ) ( VP ( VBP have ) ( NP ( NP ( DT the ) ( NN money ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB buy ) ) ) ) ) ) ) )

We have the money to buy

( SINV ( S-TPC-1 ( CC But ) ( S-NOM-SBJ ( VP ( VBG operating ) ( NP ( DT a ) ( NNP U.S. ) ( NN department-store ) ( NN chain ) ) ) ) ( VP ( MD would ) ( VP ( VB be ) ( ADJP-PRD ( RB very ) ( JJ difficult ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Motoyuki ) ( NNP Homma ) ) ( NP ( NP ( NN managing ) ( NN director ) ) ( PP ( IN of ) ( NP ( NP ( DT the ) ( JJ international ) ( NN division ) ) ( PP-LOC ( IN at ) ( NP ( NP ( NNP Mitsukoshi ) ( NNP Ltd. ) ) ( NP ( NP ( CD one ) ) ( PP ( IN of ) ( NP ( NP ( NNP Japan ) ( POS 's ) ) ( JJ leading ) ( NN department ) ( NNS stores ) ) ) ) ) ) ) ) ) ) )

But operating a U.S. department-store chain would be very difficult says Motoyuki Homma managing director of the international division at Mitsukoshi Ltd. one of Japan 's leading department stores

( S ( NP-SBJ ( JJ Japanese ) ( JJ retail ) ( NNS executives ) ) ( VP ( VBP say ) ( S ( NP-SBJ ( NP ( DT the ) ( JJ main ) ( NN reason ) ) ( SBAR ( S ( NP-SBJ-1 ( PRP they ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ reluctant ) ( S ( VP ( TO to ) ( VP ( VB jump ) ( PP-DIR ( IN into ) ( NP ( DT the ) ( NN fray ) ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ is ) ( SBAR-PRD ( DT that ) ( S ( PRN ( PP ( IN unlike ) ( NP ( NN manufacturing ) ) ) ) ( NP-SBJ ( NN retailing ) ) ( VP ( VBZ is ) ( ADJP-PRD ( RB extremely ) ( JJ sensitive ) ( PP ( TO to ) ( NP ( JJ local ) ( NNS cultures ) ( CC and ) ( NN life ) ( NNS styles ) ) ) ) ) ) ) ) ) ) )

Japanese retail executives say the main reason they are reluctant to jump into the fray in the U.S. is that unlike manufacturing retailing is extremely sensitive to local cultures and life styles

( S ( S ( NP-SBJ ( DT The ) ( NNPS Japanese ) ) ( VP ( VBP have ) ( VP ( VBN watched ) ( S ( NP-SBJ ( DT the ) ( NNPS Europeans ) ( CC and ) ( NNPS Canadians ) ) ( VP ( VB stumble ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP U.S. ) ( NN market ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP fret ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( NN business ) ( NNS practices ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBP have ) ( VP ( VBN won ) ( NP ( PRP them ) ) ( NP ( JJ huge ) ( NNS profits ) ) ( PP-LOC ( IN at ) ( NP ( NN home ) ) ) ) ) ) ) ) ( VP ( MD wo ) ( RB n't ) ( VP ( VB translate ) ( PP-CLR ( IN into ) ( NP ( NP ( NN success ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP U.S. ) ) ) ) ) ) ) ) ) ) ) )

The Japanese have watched the Europeans and Canadians stumble in the U.S. market and they fret that business practices that have won them huge profits at home wo n't translate into success in the U.S.

( S ( NP-SBJ-1 ( JJ Japanese ) ( NN department ) ( NNS stores ) ) ( VP ( VBP are ) ( ADVP ( RB also ) ) ( ADJP-PRD ( JJ wary ) ( PP ( IN of ) ( S-NOM ( VP ( VBG attracting ) ( NP ( JJ negative ) ( NN publicity ) ) ) ) ) ) ) )

Japanese department stores are also wary of attracting negative publicity

( S ( PP-TMP ( IN After ) ( NP ( NP ( NP ( NNP Sony ) ( NNP Corp. ) ( POS 's ) ) ( JJ recent ) ( JJ headline-grabbing ) ( NN acquisition ) ) ( PP ( IN of ) ( NP ( NNP Columbia ) ( NNP Pictures ) ) ) ) ) ( NP-SBJ ( JJ many ) ) ( VP ( VBP say ) ( SBAR ( S ( NP-SBJ ( NP ( PRP it ) ) ) ( VP ( VBZ makes ) ( NP ( JJ good ) ( JJ political ) ( NN sense ) ) ( S-1 ( VP ( TO to ) ( VP ( VB lie ) ( ADVP-CLR ( JJ low ) ) ) ) ) ) ) ) ) )

After Sony Corp. 's recent headline-grabbing acquisition of Columbia Pictures many say it makes good political sense to lie low

( SINV ( S-TPC-1 ( NP-SBJ ( PRP It ) ) ( VP ( VBZ 's ) ( NP-PRD ( NP ( DT a ) ( NN question ) ) ( PP ( IN of ) ( NP ( NN timing ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Mayumi ) ( NNP Takayama ) ) ( NP ( NP ( NN managing ) ( NN director ) ) ( PP ( IN of ) ( NP ( JJ international ) ( NNS operations ) ) ) ( PP-LOC ( IN at ) ( NP ( NP ( NNP Isetan ) ( NNP Co. ) ) ( NP ( DT a ) ( NNP Tokyo ) ( NN department ) ( NN store ) ) ) ) ) ) )

It 's a question of timing says Mayumi Takayama managing director of international operations at Isetan Co. a Tokyo department store

( S ( ADVP ( RB Still ) ) ( PP ( IN for ) ( NP ( NP ( DT those ) ) ( PP ( IN with ) ( NP ( NP ( DT a ) ( JJ long-term ) ( NN eye ) ) ( PP ( IN on ) ( NP ( DT the ) ( JJ vast ) ( NNP U.S. ) ( JJ retail ) ( NN market ) ) ) ) ) ) ) ( NP-SBJ ( DT this ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT a ) ( JJ tempting ) ( NN time ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB look ) ( PP-CLR ( IN for ) ( NP ( NNS bargains ) ) ) ) ) ) ) ) ) )

Still for those with a long-term eye on the vast U.S. retail market this is a tempting time to look for bargains

( S ( NP-SBJ-1 ( NP ( NNP Britain ) ( POS 's ) ) ( NNP B.A.T ) ( NNP Industries ) ( NNP PLC ) ) ( VP ( VBZ is ) ( VP ( VBG trying ) ( S ( VP ( TO to ) ( VP ( VB unwind ) ( NP ( NP ( PRP$ its ) ( NNP U.S. ) ( NN retailing ) ( NNS operations ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VBP include ) ( NP ( NP ( JJ such ) ( JJ well-known ) ( NNS stores ) ) ( PP ( IN as ) ( NP ( NP ( NNP Saks ) ( NNP Fifth ) ( NNP Avenue ) ) ( NP ( NNP Marshall ) ( NNP Field ) ( POS 's ) ) ( NP ( NNP Breuners ) ) ( CC and ) ( NP ( NNP Ivey ) ( POS 's ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Britain 's B.A.T Industries PLC is trying to unwind its U.S. retailing operations which include such well-known stores as Saks Fifth Avenue Marshall Field 's Breuners and Ivey 's

( S ( CC And ) ( NP-SBJ ( NP ( JJ debt-ridden ) ( NNP Campeau ) ( NNP Corp. ) ) ( PP ( IN of ) ( NP ( NNP Toronto ) ) ) ) ( VP ( VBZ is ) ( VP ( VBG giving ) ( PRT ( RP up ) ) ( NP ( DT the ) ( JJ 17-store ) ( NP ( NNP Bloomingdale ) ( POS 's ) ) ( NN group ) ) ) ) )

And debt-ridden Campeau Corp. of Toronto is giving up the 17-store Bloomingdale 's group

( SINV ( S-TPC-1 ( NP-SBJ ( NP ( DT Every ) ( NN department ) ( NN store ) ) ( PP-LOC ( IN in ) ( NP ( NNP Japan ) ) ) ) ( VP ( VBZ is ) ( VP ( VBG taking ) ( NP ( DT a ) ( NN look ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( NNP Mike ) ( NNP Allen ) ) ( NP ( NP ( DT a ) ( JJ retail ) ( NN analyst ) ) ( PP-LOC ( IN at ) ( NP ( NP ( NNP Barclay ) ( POS 's ) ) ( NNP de ) ( NNP Zoete ) ( NNP Wedd ) ( NNP Securities ) ( PRN ( NP-LOC ( NNP Japan ) ) ) ( NNP Ltd ) ) ) ) ) )

Every department store in Japan is taking a look says Mike Allen a retail analyst at Barclay 's de Zoete Wedd Securities Japan Ltd

( S ( NP-SBJ ( NNP Mr. ) ( NNP Allen ) ) ( ADVP ( RB however ) ) ( VP ( VBZ does ) ( RB n't ) ( VP ( VB think ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( NNP Japan ) ) ( VP ( VBZ is ) ( VP ( RB about ) ( S ( VP ( TO to ) ( VP ( VB embark ) ( PP-CLR ( IN on ) ( NP ( DT a ) ( JJ major ) ( NN buying ) ( NN binge ) ) ) ) ) ) ) ) ) ) ) ) )

Mr. Allen however does n't think that Japan is about to embark on a major buying binge

( S ( ADVP ( RB Nonetheless ) ) ( NP-SBJ ( NN speculation ) ) ( VP ( VBN heated ) ( PRT ( RP up ) ) ( NP-TMP ( NN yesterday ) ) ( SBAR-TMP ( WHADVP-2 ( WRB when ) ) ( S ( NP-SBJ ( NNP Tokyu ) ( NNP Department ) ( NNP Store ) ( NNP Co. ) ) ( VP ( VBD confirmed ) ( NP ( NP ( DT a ) ( NN report ) ) ( PP-LOC ( IN in ) ( NP ( NP ( NNP Nihon ) ( NNP Keizai ) ( NNP Shimbun ) ) ( NP ( NP ( NNP Japan ) ( POS 's ) ) ( JJ leading ) ( NN business ) ( NN daily ) ) ) ) ( SBAR-1 ( IN that ) ( S ( NP-SBJ ( NNP Tokyu ) ) ( VP ( VBZ is ) ( VP ( VBG talking ) ( PP-CLR ( IN with ) ( NP ( NN Campeau ) ) ) ( PP-CLR ( IN about ) ( S-NOM ( VP ( VBG buying ) ( NP ( NNP Bloomingdale ) ( POS 's ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Nonetheless speculation heated up yesterday when Tokyu Department Store Co. confirmed a report in Nihon Keizai Shimbun Japan 's leading business daily that Tokyu is talking with Campeau about buying Bloomingdale 's

( S ( NP-SBJ ( NNP Tokyu ) ) ( ADVP ( RB however ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( DT no ) ( NN agreement ) ) ( VP ( VBD had ) ( VP ( VBN been ) ( VP ( VBN reached ) ) ) ) ) ) ) )

Tokyu however said no agreement had been reached

( SINV ( CC Nor ) ( VBZ is ) ( NP-SBJ ( NNP Tokyu ) ) ( NP-PRD ( NP ( DT the ) ( JJ only ) ( JJ Japanese ) ( NN retailer ) ) ( ADJP ( JJ interested ) ( PP ( IN in ) ( NP ( NP ( NNP Bloomingdale ) ( POS 's ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( NP-SBJ ( NP ( NNS bankers ) ) ( PP-LOC ( IN in ) ( NP ( NNP Tokyo ) ) ) ) ( VP ( NN estimate ) ( SBAR ( S ( VP ( MD could ) ( VP ( VB cost ) ( NP ( QP ( IN between ) ( CD 1 ) ( CD billion ) ( CC and ) ( CD 1.5 ) ( CD billion ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Nor is Tokyu the only Japanese retailer interested in Bloomingdale 's which bankers in Tokyo estimate could cost between 1 billion and 1.5 billion

( S ( S-TPC-2 ( S ( NP-SBJ-1 ( CD Seven ) ( JJ Japanese ) ( JJ department-store ) ( NNS groups ) ) ( VP ( VBD were ) ( VP ( VBN approached ) ( PP ( IN by ) ( NP-LGS ( NP ( NN investment ) ( NNS bankers ) ) ( VP ( VBG representing ) ( NP ( NP ( NP ( NNP Bloomingdale ) ( POS 's ) ) ( NN chairman ) ) ( NP ( NNP Marvin ) ( NNP Traub ) ) ) ) ) ) ) ) ) ( CC and ) ( S ( NP-SBJ ( QP ( JJR more ) ( IN than ) ( NN half ) ) ) ( VP ( VBP are ) ( VP ( VBG seeking ) ( NP ( NP ( JJ additional ) ( NN information ) ) ( PP ( IN on ) ( NP ( DT the ) ( NN group ) ) ) ) ) ) ) ) ( NP-SBJ ( NNS bankers ) ) ( VP ( VBP say ) ) )

Seven Japanese department-store groups were approached by investment bankers representing Bloomingdale 's chairman Marvin Traub and more than half are seeking additional information on the group bankers say

( S-4 ( SBAR-NOM-SBJ ( WHNP-2 ( WP What ) ) ( S ( NP-SBJ-1 ( NNP Mr. ) ( NNP Traub ) ) ( VP ( VBZ is ) ( VP ( VBG hoping ) ( S ( VP ( TO to ) ( VP ( VB put ) ( ADVP-PUT ( RB together ) ) ) ) ) ) ) ) ) ( PRN ( S ( NP-SBJ ( NN investment ) ( NNS bankers ) ) ( VP ( VBP say ) ) ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT a ) ( JJ management-led ) ( NN group ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB buy ) ( NP ( NP ( DT the ) ( NNP New ) ( NNP York ) ( NN department-store ) ( NN group ) ) ( SBAR ( WHNP-5 ( IN that ) ) ( S ( NP-SBJ ( PRP he ) ) ( VP ( VBZ heads ) ) ) ) ) ( PP-CLR ( IN from ) ( NP ( NP ( NNP Campeau ) ( POS 's ) ) ( NNP Federated ) ( NNP Department ) ( NNP Stores ) ( NN subsidiary ) ) ) ) ) ) ) ) ) )

What Mr. Traub is hoping to put together investment bankers say is a management-led group to buy the New York department-store group that he heads from Campeau 's Federated Department Stores subsidiary

( S ( NP-SBJ ( NNP Federated ) ) ( VP ( VBD ran ) ( PP-DIR ( IN into ) ( NP ( DT a ) ( NN cash ) ( NN crunch ) ) ) ( SBAR-TMP ( IN after ) ( S ( NP-SBJ-1 ( PRP it ) ) ( VP ( VBD was ) ( VP ( VBN acquired ) ( NP-TMP ( JJ last ) ( NN year ) ) ( PP ( IN by ) ( NP-LGS ( NP ( NNP Campeau ) ) ( SBAR ( WHNP-2 ( WDT which ) ) ( S ( VP ( VBD relied ) ( ADVP-MNR ( RB heavily ) ) ( PP-CLR ( IN on ) ( NP ( NN debt ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB finance ) ( NP ( DT the ) ( NN transaction ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Federated ran into a cash crunch after it was acquired last year by Campeau which relied heavily on debt to finance the transaction

( S ( S-NOM-SBJ ( VP ( VBG Paying ) ( PRT ( RP off ) ) ( NP ( DT that ) ( NN debt ) ) ) ) ( VP ( VBD put ) ( NP ( NP ( PDT such ) ( DT a ) ( NN squeeze ) ) ) ( PP-PUT ( IN on ) ( NP ( NP ( NNP Campeau ) ) ( CC and ) ( NP ( PRP$ its ) ( NNS stores ) ) ) ) ( SBAR-2 ( IN that ) ( S ( NP-SBJ-1 ( NNP Federated ) ) ( VP ( VBD decided ) ( S ( VP ( TO to ) ( VP ( VB sell ) ( PRT ( RP off ) ) ( NP ( NP ( DT the ) ( NNS jewels ) ) ( PP ( IN of ) ( NP ( PRP$ its ) ( NN retailing ) ( NN empire ) ) ) ( PP ( VBG including ) ( NP ( NNP Bloomingdale ) ( POS 's ) ) ) ) ) ) ) ) ) ) ) )

Paying off that debt put such a squeeze on Campeau and its stores that Federated decided to sell off the jewels of its retailing empire including Bloomingdale 's

( S ( S-ADV ( VP ( VBG Hoping ) ( S ( VP ( TO to ) ( VP ( VB avoid ) ( NP ( DT another ) ( NN takeover ) ) ) ) ) ) ) ( NP-SBJ-2 ( NNP Mr. ) ( NNP Traub ) ) ( VP ( VBD retained ) ( S ( NP-SBJ ( NP ( NNP Blackstone ) ( NNP Group ) ) ( CC and ) ( NP ( NNP Drexel ) ( NNP Burnham ) ( NNP Lambert ) ( NNP Inc. ) ) ) ( VP ( TO to ) ( VP ( VB help ) ( S ( NP-SBJ ( PRP him ) ) ( VP ( VB find ) ( NP ( NP ( NNS partners ) ) ( PP ( IN for ) ( NP ( DT a ) ( JJ management-led ) ( NN buy-out ) ) ) ) ) ) ) ) ) ) )

Hoping to avoid another takeover Mr. Traub retained Blackstone Group and Drexel Burnham Lambert Inc. to help him find partners for a management-led buy-out

( S-3 ( ADVP ( RB Ideally ) ) ( PRN ( S ( NP-SBJ ( NN investment ) ( NNS bankers ) ) ( VP ( VBP say ) ) ) ) ( NP-SBJ-1 ( PRP he ) ) ( VP ( VBZ wants ) ( S ( VP ( TO to ) ( VP ( VB get ) ( NP ( NP ( NN backing ) ) ( PP ( IN from ) ( NP ( NP ( DT a ) ( JJ Japanese ) ( NN department ) ( NN store ) ) ( CC and ) ( NP ( DT a ) ( JJ European ) ( NN department ) ( NN store ) ) ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB forge ) ( NP ( DT a ) ( JJ global ) ( NN retailing ) ( NN network ) ) ) ) ) ) ) ) ) ) ) )

Ideally investment bankers say he wants to get backing from a Japanese department store and a European department store to forge a global retailing network

( SINV ( S-TPC-5 ( SBAR-TMP ( WHADVP-1 ( WRB When ) ) ( S ( NP-SBJ ( PRP you ) ) ( VP ( VBP look ) ( PP-CLR ( IN at ) ( NP ( DT the ) ( NNS economics ) ) ) ) ) ) ( NP-SBJ-3 ( NNP Traub ) ) ( VP ( VBZ needs ) ( NP ( NP ( DT a ) ( JJ Japanese ) ) ( CC and ) ( NP ( DT a ) ( JJ European ) ) ( NX-2 ( NN partner ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB make ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VB work ) ) ) ) ) ) ) ) ( VP ( VBZ says ) ) ( NP-SBJ ( NP ( CD one ) ( NN investment ) ( NN banker ) ) ( SBAR ( WHNP-4 ( WP who ) ) ( S ( VP ( VBZ follows ) ( NP ( DT the ) ( JJ retail ) ( NN industry ) ) ) ) ) ) )

When you look at the economics Traub needs a Japanese and a European partner to make it work says one investment banker who follows the retail industry

( S ( S-NOM-SBJ ( VP ( VBG Looking ) ( ADVP ( RB only ) ) ( PP-CLR ( IN at ) ( NP ( DT a ) ( JJ narrow ) ( JJ American ) ( NN strategy ) ) ) ) ) ( VP ( VBZ is ) ( RB n't ) ( SBAR-LOC-PRD ( WHADVP-1 ( WRB where ) ) ( S ( NP-SBJ ( PRP it ) ) ( VP ( VBZ 's ) ( PP-LOC-PRD ( IN at ) ) ) ) ) ) )

Looking only at a narrow American strategy is n't where it 's at

( S ( S-TPC-3 ( S-NOM-SBJ-1 ( VP ( VBG Persuading ) ( NP-2 ( JJ tradition-bound ) ( JJ Japanese ) ( NNS retailers ) ) ( S ( VP ( TO to ) ( VP ( VB get ) ( ADJP-PRD ( VBN involved ) ( PP ( IN in ) ( NP ( NP ( DT the ) ( NNS turmoils ) ) ( PP ( IN of ) ( NP ( DT the ) ( NNP U.S. ) ( NN retailing ) ( NN industry ) ) ) ) ) ) ) ) ) ) ) ( VP ( VBZ is ) ( RB n't ) ( ADJP-PRD ( JJ likely ) ( S ( VP ( TO to ) ( VP ( VB be ) ( ADJP-PRD ( RB so ) ( JJ easy ) ) ) ) ) ) ) ) ( NP-SBJ ( NNS analysts ) ) ( VP ( VBP say ) ) )

Persuading tradition-bound Japanese retailers to get involved in the turmoils of the U.S. retailing industry is n't likely to be so easy analysts say

( S ( PP-TMP ( RB Up ) ( PP ( IN until ) ( ADVP ( RB now ) ) ) ) ( NP-SBJ ( JJS most ) ( NNS stores ) ) ( VP ( VBP have ) ( VP ( VBN followed ) ( NP ( DT the ) ( JJ same ) ( JJ basic ) ( JJ overseas ) ( NN strategy ) ) ) ) )

Up until now most stores have followed the same basic overseas strategy

( S ( ADVP-TMP ( RB First ) ) ( NP-SBJ ( PRP they ) ) ( VP ( VBP set ) ( PRT ( RP up ) ) ( NP ( NP ( JJ overseas ) ( NN merchandising ) ( NNS offices ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VP ( VB import ) ( NP ( NNS items ) ) ) ( CC and ) ( VP ( VB track ) ( NP ( JJ new ) ( NN fashion ) ( NNS trends ) ) ) ) ) ) ) ) ) )

First they set up overseas merchandising offices to import items and track new fashion trends

( S ( ADVP-TMP ( RB Then ) ) ( NP-SBJ ( PRP they ) ) ( VP ( VBD opened ) ( NP ( NP ( JJ small ) ( NN gift ) ( NNS shops ) ) ( VP ( ADVP ( RB mostly ) ) ( VBN aimed ) ( PP ( IN at ) ( NP ( JJ Japanese ) ( NNS tourists ) ) ) ) ) ) )

Then they opened small gift shops mostly aimed at Japanese tourists

( S ( S-ADV ( ADJP-PRD ( JJ Reluctant ) ( S ( VP ( TO to ) ( VP ( VB advance ) ( ADVP ( RBR further ) ) ( PP-MNR ( IN on ) ( NP ( PRP$ their ) ( JJ own ) ) ) ) ) ) ) ) ( NP-SBJ-2 ( DT some ) ( NNS stores ) ) ( VP ( VBP have ) ( VP ( VBN settled ) ( PP-CLR ( IN for ) ( NP ( NP ( NNS tie-ups ) ) ( PP ( IN with ) ( NP ( JJ famous ) ( NN specialty ) ( NNS shops ) ) ) ) ) ) ) )

Reluctant to advance further on their own some stores have settled for tie-ups with famous specialty shops

( S ( NP-TMP ( JJ Last ) ( NNP March ) ) ( NP-SBJ ( NNP Isetan ) ) ( VP ( VBD invested ) ( NP ( NP ( QP ( CD 1.5 ) ( CD billion ) ) ( NNS yen ) ) ( NP ( QP ( CD 10.6 ) ( CD million ) ) ) ) ( PP-CLR ( IN in ) ( NP ( NP ( DT a ) ( NN venture ) ) ( PP ( IN with ) ( NP ( NP ( NP ( NNP Barney ) ( POS 's ) ) ( NN Inc. ) ) ( NP ( DT an ) ( JJ up-scale ) ( NNP New ) ( NNP York ) ( NN specialty ) ( NN clothier ) ) ) ) ) ) ) )

Last March Isetan invested 1.5 billion yen 10.6 million in a venture with Barney 's Inc. an up-scale New York specialty clothier

( S ( NP-SBJ-1 ( DT The ) ( JJ first ) ( NP ( NNP Barney ) ( POS 's ) ) ( NN shop ) ) ( VP ( VBZ is ) ( VP ( VBN scheduled ) ( S ( VP ( TO to ) ( VP ( VB open ) ( PP-LOC ( IN in ) ( NP ( NNP Japan ) ) ) ( NP-TMP ( JJ next ) ( NN year ) ) ) ) ) ) ) )

The first Barney 's shop is scheduled to open in Japan next year

( S ( CC And ) ( NP-SBJ ( NNP Mitsukoshi ) ) ( ADVP-TMP ( RB recently ) ) ( VP ( VBD increased ) ( NP ( NP ( PRP$ its ) ( NN equity ) ( NN stake ) ) ( PP-LOC ( IN in ) ( NP ( NNP Tiffany ) ( CC & ) ( NNP Co. ) ) ) ) ( PP-DIR ( TO to ) ( NP ( CD 13 ) ( NN % ) ) ) ) )

And Mitsukoshi recently increased its equity stake in Tiffany & Co. to 13 %

( S ( PP-MNR ( IN Through ) ( NP ( NP ( DT the ) ( JJ longstanding ) ( NN relationship ) ) ( PP ( IN between ) ( NP ( DT the ) ( CD two ) ( NNS companies ) ) ) ) ) ( NP-SBJ ( NNP Mitsukoshi ) ) ( VP ( VBZ has ) ( VP ( VBN opened ) ( NP ( NP ( CD 22 ) ( NNP Tiffany ) ( NNS shops ) ) ( PP-LOC ( IN in ) ( NP ( NP ( PRP$ its ) ( NNS stores ) ( CC and ) ( NNS arcades ) ) ( PP-LOC ( IN in ) ( NP ( NNP Japan ) ) ) ) ) ) ) ) )

Through the longstanding relationship between the two companies Mitsukoshi has opened 22 Tiffany shops in its stores and arcades in Japan

( S ( S ( NP-SBJ ( NNS Plans ) ) ( VP ( VBP are ) ( PP-PRD ( IN under ) ( NP ( NN way ) ) ) ( S-2 ( VP ( TO to ) ( VP ( VB open ) ( NP ( NP ( DT a ) ( NP ( NNP Tiffany ) ( POS 's ) ) ) ( PP-LOC ( IN in ) ( NP ( NNS Hawaii ) ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB cater ) ( PP-CLR ( TO to ) ( NP ( JJ Japanese ) ( NNS tourists ) ) ) ) ) ) ) ) ) ) ) ) ) ( S ( NP-SBJ-3 ( PRP it ) ) ( VP ( MD will ) ( VP ( VB be ) ( VP ( VBN run ) ( ADVP ( RB mostly ) ) ( PP ( IN by ) ( NP-LGS ( NNP Mitsukoshi ) ) ) ) ) ) ) )

Plans are under way to open a Tiffany 's in Hawaii to cater to Japanese tourists it will be run mostly by Mitsukoshi

( S ( NP-SBJ ( DT Some ) ( NN industry ) ( NNS observers ) ) ( VP ( VBP say ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( NNP Mitsukoshi ) ( POS 's ) ) ( JJ classy ) ( NN image ) ) ( VP ( VBZ makes ) ( S ( NP-SBJ ( PRP it ) ) ( NP-PRD ( NP ( DT a ) ( JJ possible ) ( NN match ) ) ( PP ( IN for ) ( NP ( NNP Saks ) ( NNP Fifth ) ( NNP Avenue ) ) ) ) ) ) ) ) ) )

Some industry observers say that Mitsukoshi 's classy image makes it a possible match for Saks Fifth Avenue

( S ( NP-SBJ ( NN Company ) ( NNS officials ) ) ( VP ( VP ( VBP say ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP are ) ( VP ( VBG studying ) ( NP ( JJ various ) ( NNS proposals ) ) ) ) ) ) ) ( CC but ) ( VP ( MD wo ) ( RB n't ) ( VP ( VB discuss ) ( NP ( NNS details ) ) ) ) ) )

Company officials say they are studying various proposals but wo n't discuss details

( S ( NP-SBJ ( NP ( NNP Takashimaya ) ( NNP Co. ) ) ( NP ( NP ( NNP Japan ) ( POS 's ) ) ( JJS oldest ) ( NN department ) ( NN store ) ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT another ) ( NN name ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBZ keeps ) ( S ( VP ( VBG popping ) ( PRT ( RP up ) ) ( PP-CLR ( IN as ) ( NP ( NP ( DT a ) ( JJ potential ) ( NN fit ) ) ( PP ( IN with ) ( NP ( NNP Saks ) ) ) ) ) ) ) ) ) ) ) ) )

Takashimaya Co. Japan 's oldest department store is another name that keeps popping up as a potential fit with Saks

( S ( NP-SBJ ( NP ( NNP Eiji ) ( NNP Nakazato ) ) ( NP ( DT a ) ( NNP Takashimaya ) ( JJ general ) ( NN manager ) ) ) ( VP ( VBZ admits ) ( SBAR ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( PRP$ his ) ( NN company ) ( POS 's ) ) ( NN image ) ) ( VP ( VBZ is ) ( ADJP-PRD ( JJ similar ) ( PP ( TO to ) ( NP ( NNP Saks ) ( POS 's ) ) ) ) ) ) ) ( CC and ) ( SBAR ( IN that ) ( S ( NP-SBJ ( EX there ) ) ( VP ( VBZ is ) ( NP-PRD ( NP ( DT some ) ( NN interest ) ) ( PP ( IN in ) ( NP ( DT the ) ( NN idea ) ) ) ) ) ) ) ) ) )

Eiji Nakazato a Takashimaya general manager admits that his company 's image is similar to Saks 's and that there is some interest in the idea

( S ( CC But ) ( NP-SBJ ( PRP he ) ) ( VP ( VBZ stops ) ( ADVP-LOC ( RB there ) ) ) )

But he stops there

( S ( S-TPC-2 ( NP-SBJ-1 ( PRP We ) ) ( VP ( MD 'd ) ( VP ( VB like ) ( S ( VP ( TO to ) ( VP ( VB do ) ( NP ( NN business ) ) ( PP-LOC ( IN in ) ( NP ( NNP America ) ) ) ) ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBZ says ) ) )

We 'd like to do business in America he says

( S ( CC But ) ( NP-SBJ ( PRP it ) ) ( VP ( VBZ looks ) ( ADJP-PRD ( JJ tough ) ) ) )

But it looks tough

( S ( NP-SBJ ( NNP Marcus ) ( NNP W. ) ( NNP Brauchli ) ) ( VP ( VBD contributed ) ( PP-CLR ( TO to ) ( NP ( DT this ) ( NN article ) ) ) ) )

Marcus W. Brauchli contributed to this article

( S ( VP ( VBN Compiled ) ( PP ( IN by ) ( NP-LGS ( NNP William ) ( NNP Mathewson ) ) ) ) )

Compiled by William Mathewson

( S ( NP-SBJ ( DT The ) ( NNP Vatican ) ) ( VP ( VBD was ) ( PP-PRD ( IN in ) ( NP ( DT the ) ( NN red ) ) ) ( NP-TMP ( JJ last ) ( NN year ) ) ) )

The Vatican was in the red last year

( S ( NP-SBJ ( PRP It ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( JJ regular ) ( CD 1988 ) ( NN deficit ) ) ( VP ( VBD amounted ) ( PP-CLR ( TO to ) ( NP ( QP ( CD 43.5 ) ( CD million ) ) ) ) ( PP ( VBN based ) ( PP ( IN on ) ( NP ( NP ( NP ( NN revenue ) ) ( PP ( IN of ) ( NP ( QP ( CD 74.4 ) ( CD million ) ) ) ) ) ( CC and ) ( NP ( NP ( NNS expenses ) ) ( PP ( IN of ) ( NP ( QP ( CD 117.9 ) ( CD million ) ) ) ) ) ) ) ) ) ) ) ) )

It said the regular 1988 deficit amounted to 43.5 million based on revenue of 74.4 million and expenses of 117.9 million

( S ( CC But ) ( NP-SBJ ( PRP it ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( JJ extraordinary ) ( NNS expenditures ) ) ( PP ( IN for ) ( NP ( NP ( PRP$ its ) ( NN radio ) ( NN station ) ) ( CC and ) ( NP ( NP ( NN restoration ) ) ( PP ( IN of ) ( NP ( NNS buildings ) ) ) ) ) ) ) ( VP ( VBD increased ) ( NP ( DT the ) ( NN deficit ) ) ( PP-DIR ( TO to ) ( NP ( QP ( CD 57.2 ) ( CD million ) ) ) ) ) ) ) ) )

But it said extraordinary expenditures for its radio station and restoration of buildings increased the deficit to 57.2 million

( S ( NP-SBJ ( NP ( DT A ) ( NN statement ) ) ( PP ( IN from ) ( NP ( NP ( DT the ) ( NN council ) ) ( PP ( IN of ) ( NP ( NNS cardinals ) ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NNPS Catholics ) ) ( VP ( VBD had ) ( VP ( VBN responded ) ( ADVP-MNR ( RB generously ) ) ( PP-CLR ( TO to ) ( NP ( NP ( DT an ) ( NN appeal ) ) ( NP-TMP ( JJ last ) ( NN year ) ) ( S-1 ( VP ( TO to ) ( VP ( VB give ) ( NP ( JJR more ) ( NN money ) ) ) ) ) ) ) ( PP-TMP ( IN after ) ( NP ( NP ( CD 1987 ) ( POS 's ) ) ( JJ record ) ( ADJP ( QP ( CD 63 ) ( CD million ) ) ) ( NN deficit ) ) ) ) ) ) ) ) )

A statement from the council of cardinals said Catholics had responded generously to an appeal last year to give more money after 1987 's record 63 million deficit

( S ( NP-SBJ ( DT The ) ( NN statement ) ) ( VP ( VBD said ) ( S ( NP-SBJ-1 ( NP ( DT a ) ( ADJP ( CD 5 ) ( NN % ) ) ( NN jump ) ) ( PP ( IN in ) ( NP ( NP ( DT the ) ( NP ( NNP Peter ) ( POS 's ) ) ( NNP Pence ) ( NN collection ) ) ( PRN ( NP ( NP ( DT the ) ( JJ annual ) ( NN offering ) ) ( PP ( IN from ) ( NP ( NNPS Catholics ) ) ) ( PP ( TO to ) ( NP ( DT the ) ( NN pope ) ) ) ) ) ) ) ) ( VP ( VBD helped ) ( S ( VP ( VB cover ) ( NP ( DT the ) ( NN deficit ) ) ) ) ) ) ) )

The statement said a 5 % jump in the Peter 's Pence collection the annual offering from Catholics to the pope helped cover the deficit

( S ( NP-SBJ ( NP ( NN Council ) ( NN member ) ( NNP Cardinal ) ( NNP Gerald ) ( NNP Carter ) ) ( PP ( IN of ) ( NP ( NNP Toronto ) ) ) ) ( VP ( VBD told ) ( NP ( NNP Vatican ) ( NNP Radio ) ) ( S ( ADVP-TMP ( RB Now ) ( SBAR ( IN that ) ( S ( NP-SBJ ( PRP we ) ) ( VP ( VBP say ) ( SBAR ( S ( NP-SBJ ( PRP we ) ) ( VP ( VBD covered ) ( NP ( PRP$ our ) ( NN deficit ) ) ( NP-TMP ( DT this ) ( NN year ) ) ) ) ) ) ) ) ) ( NP-SBJ-1 ( NNS people ) ) ( VP ( VBP are ) ( VP ( VBG going ) ( S ( VP ( TO to ) ( VP ( VP ( VB relax ) ) ( CC and ) ( VP ( VB say ) ( SBAR ( S ( S ( INTJ ( RB well ) ) ( NP-SBJ ( DT that ) ) ( VP ( VBZ 's ) ( ADJP-PRD ( JJ fine ) ) ) ) ( S ( NP-SBJ ( DT the ) ( NNP Holy ) ( NNP See ) ) ( VP ( VBZ is ) ( PP-LOC-PRD ( IN out ) ( PP ( IN of ) ( NP ( DT the ) ( NN hole ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

Council member Cardinal Gerald Carter of Toronto told Vatican Radio Now that we say we covered our deficit this year people are going to relax and say well that 's fine the Holy See is out of the hole

( S ( CC But ) ( NP-SBJ-1 ( PRP we ) ) ( VP ( VBP 're ) ( VP ( VBG going ) ( S ( VP ( TO to ) ( VP ( VB be ) ( PP-LOC-PRD ( IN in ) ( NP ( DT the ) ( JJ exact ) ( JJ same ) ( NN situation ) ) ) ( NP-TMP ( IN next ) ( NN year ) ) ) ) ) ) ) )

But we 're going to be in the exact same situation next year

( S ( S-TPC-2 ( NP-SBJ-1 ( NNP Former ) ( NNP President ) ( NNP Richard ) ( NNP Nixon ) ) ( VP ( VBZ is ) ( S ( VP ( TO to ) ( VP ( VB visit ) ( NP ( NNP China ) ) ( PP ( IN at ) ( NP ( NP ( DT the ) ( NN invitation ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN government ) ) ) ) ) ( PP-TMP ( VBG beginning ) ( NP ( NNP Saturday ) ) ) ) ) ) ) ) ( NP-SBJ ( DT the ) ( NNP Foreign ) ( NNP Ministry ) ) ( VP ( VBD announced ) ) )

Former President Richard Nixon is to visit China at the invitation of the government beginning Saturday the Foreign Ministry announced

( S ( PP ( VBG According ) ( PP ( TO to ) ( NP ( NP ( NNP Mr. ) ( NNP Nixon ) ( POS 's ) ) ( NN office ) ) ) ) ( NP-SBJ ( DT This ) ) ( VP ( VBZ is ) ( ADVP ( RB solely ) ) ( NP-PRD ( DT a ) ( JJ fact-finding ) ( NN trip ) ) ) )

According to Mr. Nixon 's office This is solely a fact-finding trip

( S ( NP-SBJ ( EX There ) ) ( VP ( MD will ) ( VP ( VB be ) ( NP-PRD ( NP ( RB no ) ( NN sightseeing ) ) ( NP ( DT no ) ( NN shopping ) ) ( CC and ) ( NP ( DT no ) ( JJ social ) ( NNS events ) ) ) ) ) )

There will be no sightseeing no shopping and no social events

( S ( NP-SBJ ( NP ( NNP Mr. ) ( NNP Nixon ) ( POS 's ) ) ( NN office ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ-1 ( DT the ) ( JJ former ) ( NN president ) ) ( VP ( VP ( VBZ expects ) ( S ( VP ( TO to ) ( VP ( VB have ) ( NP ( NP ( JJ one-on-one ) ( NNS discussions ) ) ( PP ( IN with ) ( NP ( DT the ) ( JJ major ) ( JJ Chinese ) ( NNS leaders ) ) ) ) ) ) ) ) ( CC and ) ( VP ( MD will ) ( VP ( VB give ) ( NP ( NP ( PRP$ his ) ( NN assessment ) ) ( PP ( IN of ) ( NP ( DT those ) ( NNS leaders ) ) ) ) ( PP-DTV ( TO to ) ( NP ( NNP President ) ( NNP Bush ) ) ) ( PP-TMP ( IN upon ) ( NP ( PRP$ his ) ( NN return ) ) ) ) ) ) ) ) ) )

Mr. Nixon 's office said the former president expects to have one-on-one discussions with the major Chinese leaders and will give his assessment of those leaders to President Bush upon his return

( S ( NP-SBJ ( NP ( DT A ) ( NN poll ) ) ( VP ( VBN conducted ) ( PP-LOC ( IN in ) ( NP ( NP ( CD 12 ) ) ( PP ( IN of ) ( NP ( CD 16 ) ( NNP NATO ) ( NNS countries ) ) ) ) ) ) ) ( VP ( VBZ shows ) ( SBAR ( IN that ) ( S ( NP-SBJ-1 ( DT the ) ( NNPS Dutch ) ) ( VP ( VBP appear ) ( S ( VP ( TO to ) ( VP ( VB be ) ( NP-PRD ( NP ( DT the ) ( JJS strongest ) ( NNS supporters ) ) ( PP ( IN of ) ( NP ( DT the ) ( NN alliance ) ) ) ) ) ) ) ) ) ) ) )

A poll conducted in 12 of 16 NATO countries shows that the Dutch appear to be the strongest supporters of the alliance

( S ( NP-SBJ ( NP ( DT The ) ( NN poll ) ) ( VP ( VBN conducted ) ( PP ( IN for ) ( NP ( DT the ) ( JJ Dutch ) ( NN daily ) ( NNP De ) ( NNP Telegraaf ) ) ) ( PP ( IN by ) ( NP-LGS ( NNP Gallup ) ( NNP International ) ) ) ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( NP ( CD 81 ) ( NN % ) ) ( PP ( IN of ) ( NP ( JJ Dutch ) ( NNS people ) ) ) ) ( VP ( VBD supported ) ( NP ( NNP NATO ) ) ) ) ) ) )

The poll conducted for the Dutch daily De Telegraaf by Gallup International said 81 % of Dutch people supported NATO

( S ( NP-SBJ-1 ( NNP Canada ) ) ( VP ( VBD was ) ( NP-PRD ( DT the ) ( JJ second ) ( RBS most ) ( JJ pro-NATO ) ( NN country ) ) ( PP ( IN with ) ( S-NOM ( NP-SBJ ( CD 78 ) ( NN % ) ) ( VP ( VBG supporting ) ( NP ( DT the ) ( NN alliance ) ) ) ) ) ( S-ADV ( VP ( VBN followed ) ( PP ( IN by ) ( NP ( NP ( NP ( DT the ) ( NNP U.S. ) ) ( PP ( IN with ) ( NP ( CD 75 ) ( NN % ) ) ) ) ( NP ( NP ( NNP Britain ) ) ( PP ( IN with ) ( NP ( CD 71 ) ( NN % ) ) ) ) ( NP ( NP ( NN Belgium ) ) ( PP ( IN with ) ( NP ( CD 69 ) ( NN % ) ) ) ) ( CC and ) ( NP ( NP ( NNP West ) ( NNP Germany ) ) ( PP ( IN with ) ( NP ( CD 63 ) ( NN % ) ) ) ) ) ) ) ) ) )

Canada was the second most pro-NATO country with 78 % supporting the alliance followed by the U.S. with 75 % Britain with 71 % Belgium with 69 % and West Germany with 63 %

( S ( NP-SBJ ( DT All ) ( JJ other ) ( NNS countries ) ) ( VP ( VBD registered ) ( NP ( NP ( NN support ) ) ( PP ( IN below ) ( NP ( CD 50 ) ( NN % ) ) ) ) ) )

All other countries registered support below 50 %

( S ( NP-SBJ ( NP ( DT The ) ( NNP Israeli ) ( NNP Manufacturers ) ( POS ' ) ) ( NN Association ) ) ( VP ( VBD filed ) ( NP ( NP ( DT a ) ( NN police ) ( NN complaint ) ) ( PP ( IN against ) ( NP ( DT an ) ( JJ Arab ) ( NN pasta ) ( NN maker ) ) ) ( PP ( IN for ) ( S-NOM ( VP ( VBG using ) ( NP ( NP ( DT the ) ( CD four ) ( NNS colors ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ outlawed ) ( JJ Palestinian ) ( NN flag ) ) ) ) ( PP-LOC-CLR ( IN on ) ( NP ( NNS spaghetti ) ( NNS packages ) ) ) ) ) ) ) ) )

The Israeli Manufacturers ' Association filed a police complaint against an Arab pasta maker for using the four colors of the outlawed Palestinian flag on spaghetti packages

( S ( NP-SBJ ( PRP We ) ) ( VP ( VBD asked ) ( NP-1 ( NNS police ) ) ( S ( VP ( TO to ) ( VP ( VB investigate ) ( SBAR ( WHADVP-3 ( WRB why ) ) ( S ( NP-SBJ-2 ( PRP they ) ) ( VP ( VBP are ) ( VP ( VBN allowed ) ( S ( VP ( TO to ) ( VP ( VB distribute ) ( NP ( DT the ) ( NN flag ) ) ( PP-MNR ( IN in ) ( NP ( DT this ) ( NN way ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

We asked police to investigate why they are allowed to distribute the flag in this way

( SINV ( S ( NP-SBJ-1 ( PRP It ) ) ( VP ( MD should ) ( VP ( VB be ) ( VP ( VBN considered ) ( S ( PP-PRD ( IN against ) ( NP ( DT the ) ( NN law ) ) ) ) ) ) ) ) ( VP ( VBD said ) ) ( NP-SBJ ( NP ( NNP Danny ) ( NNP Leish ) ) ( NP ( NP ( DT a ) ( NN spokesman ) ) ) ( PP ( IN for ) ( NP ( DT the ) ( NN association ) ) ) ) )

It should be considered against the law said Danny Leish a spokesman for the association

( S ( NP-SBJ-1 ( DT The ) ( NNS spaghetti ) ) ( VP ( VP ( VBZ is ) ( VP ( VBN made ) ( PP ( IN by ) ( NP-LGS ( DT the ) ( NNP Al ) ( NNP Ghazel ) ( NNP Macaroni ) ( NNP Co. ) ) ) ( PP-LOC ( IN in ) ( NP ( NNP Bethlehem ) ) ) ) ) ( CC and ) ( VP ( VBZ is ) ( VP ( VBN marketed ) ( PP-LOC ( IN in ) ( NP ( NP ( DT a ) ( NN package ) ) ( VP ( VBN decorated ) ( PP-CLR ( IN with ) ( NP ( ADJP ( JJ green ) ( JJ black ) ( JJ red ) ( CC and ) ( JJ white ) ) ( NNS stripes ) ) ) ) ) ) ) ) ) )

The spaghetti is made by the Al Ghazel Macaroni Co. in Bethlehem and is marketed in a package decorated with green black red and white stripes

( S ( NP-SBJ ( JJ British ) ( JJ postal ) ( NNS authorities ) ) ( VP ( VBP say ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP have ) ( VP ( VBN uncovered ) ( NP ( NP ( DT a ) ( JJ large-scale ) ( NN scheme ) ) ( SBAR ( WHADVP-1 ( WRB where ) ) ( S ( NP-SBJ ( JJ unscrupulous ) ( NN stamp ) ( NNS dealers ) ) ( VP ( VP ( ADVP-MNR ( RB chemically ) ) ( VBD removed ) ( NP ( NN stamp ) ( NNS cancellations ) ) ) ( VP ( VBD regummed ) ( NP ( DT the ) ( NNS stamps ) ) ) ( CC and ) ( VP ( VBD sold ) ( NP ( PRP them ) ) ( PP-DTV ( PP ( TO to ) ( NP ( NNP U.S. ) ( NNS collectors ) ) ) ( CC or ) ( PRN ( PP-MNR ( IN in ) ( NP ( JJ large ) ( NNS lots ) ) ) ) ( PP ( TO to ) ( NP ( JJ British ) ( NNS businesses ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

British postal authorities say they have uncovered a large-scale scheme where unscrupulous stamp dealers chemically removed stamp cancellations regummed the stamps and sold them to U.S. collectors or in large lots to British businesses

( S ( NP-SBJ ( DT The ) ( NN scheme ) ) ( ADVP ( RB allegedly ) ) ( VP ( VBD cost ) ( NP ( DT the ) ( NN post ) ( NN office ) ) ( NP ( NP ( QP ( CD 10 ) ( CD million ) ) ) ( PRN ( NP ( CD 16.1 ) ) ) ( PP ( IN in ) ( NP ( NN revenue ) ) ) ) ( PP-TMP ( IN in ) ( NP ( DT the ) ( JJ past ) ( CD 12 ) ( NNS months ) ) ) ) )

The scheme allegedly cost the post office 10 million 16.1 in revenue in the past 12 months

( S ( NP-SBJ ( NNS Dealers ) ) ( VP ( VBD bought ) ( NP ( DT the ) ( JJ used ) ( NNS stamps ) ) ( ADVP-MNR ( RB cheaply ) ) ( PP-CLR ( IN from ) ( NP ( NP ( NNS charities ) ) ( PP ( VBG including ) ( NP ( DT the ) ( NAC ( NNP Guide ) ( NNP Dogs ) ( PP ( IN for ) ( NP ( DT the ) ( NNP Blind ) ) ) ) ( NNP Association ) ) ) ) ) ) )

Dealers bought the used stamps cheaply from charities including the Guide Dogs for the Blind Association

( S ( NP-SBJ-2 ( DT The ) ( NNS charities ) ) ( ADVP-TMP ( RB regularly ) ) ( VP ( VBP sell ) ( NP ( NP ( JJ used ) ( NNS stamps ) ) ( SBAR ( WHNP-1 ( WDT which ) ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP collect ) ( PP-CLR ( IN from ) ( NP ( NP ( NNS children ) ) ( CC and ) ( NP ( JJ other ) ( NNS donors ) ) ) ) ) ) ) ) ( S-PRP ( VP ( TO to ) ( VP ( VB raise ) ( NP ( NNS funds ) ) ) ) ) ) )

The charities regularly sell used stamps which they collect from children and other donors to raise funds

( S ( NP-SBJ ( NP ( NNP Akio ) ( NNP Tanii ) ) ( NP ( NP ( NN president ) ) ( PP ( IN of ) ( NP ( NP ( NNP Japan ) ( POS 's ) ) ( NNP Matsushita ) ( NNP Electric ) ( NNP Industrial ) ( NNP Co. ) ) ) ) ) ( VP ( VBD presented ) ( NP ( NP ( DT the ) ( NNP U.S. ) ( NN consul ) ( JJ general ) ) ( PP-LOC ( IN in ) ( NP ( NNP Osaka ) ) ) ) ( PP-CLR ( IN with ) ( NP ( NP ( DT a ) ( ADJP ( QP ( CD 1 ) ( CD million ) ) ) ( NN check ) ) ( SBAR ( S ( VP ( TO to ) ( VP ( VB help ) ( NP ( NP ( NNP San ) ( NNP Francisco ) ( POS 's ) ) ( NN earthquake ) ( NNS victims ) ) ) ) ) ) ) ) ) )

Akio Tanii president of Japan 's Matsushita Electric Industrial Co. presented the U.S. consul general in Osaka with a 1 million check to help San Francisco 's earthquake victims

( S ( S-TPC-1 ( NP-SBJ ( NP ( NP ( DT The ) ( NN company ) ( POS 's ) ) ( NNP U.S. ) ( NN subsidiary ) ) ( NP ( NP ( NNP Matsushita ) ( NNP Electric ) ( NNP Corp. ) ) ( PP ( IN of ) ( NP ( NNP America ) ) ) ) ) ( VP ( VBD had ) ( VP ( VBN donated ) ( NP ( NP ( QP ( IN over ) ( CD 35,000 ) ) ( NN worth ) ) ( PP ( IN of ) ( NP ( JJ Matsushita-made ) ( NNS flashlights ) ( CC and ) ( NNS batteries ) ) ) ) ( PP-CLR ( TO to ) ( NP ( NNS residents ) ) ) ( PP-TMP ( ADVP ( RB shortly ) ) ( IN after ) ( NP ( DT the ) ( NN disaster ) ) ) ) ) ) ( NP-SBJ ( DT a ) ( NN company ) ( NN spokesman ) ) ( VP ( VBD said ) ) )

The company 's U.S. subsidiary Matsushita Electric Corp. of America had donated over 35,000 worth of Matsushita-made flashlights and batteries to residents shortly after the disaster a company spokesman said

( S ( NP-SBJ ( JJ Several ) ( JJ other ) ( JJ Japanese ) ( NX ( NX ( NNS companies ) ) ( CC and ) ( NX ( JJ regional ) ( NNS governments ) ) ) ) ( VP ( VBP have ) ( VP ( VBN sent ) ( NP ( NN aid ) ) ( PP-DIR ( TO to ) ( NP ( NNP San ) ( NNP Francisco ) ) ) ) ) )

Several other Japanese companies and regional governments have sent aid to San Francisco

( S ( S ( NP-SBJ-1 ( NNP Sumitomo ) ( NNP Bank ) ) ( VP ( VBD donated ) ( NP-2 ( CD 500,000 ) ) ) ) ( S ( NP-SBJ=1 ( NNP Tokyo ) ( NN prefecture ) ) ( NP=2 ( CD 15,000 ) ) ) ( CC and ) ( S ( NP-SBJ=1 ( NP ( DT the ) ( NN city ) ) ( PP ( IN of ) ( NP ( NNP Osaka ) ) ) ) ( NP=2 ( CD 10,000 ) ) ) )

Sumitomo Bank donated 500,000 Tokyo prefecture 15,000 and the city of Osaka 10,000

( S ( NP-SBJ-1 ( JJ Chinese ) ( NNS officials ) ) ( VP ( VBP are ) ( VP ( VBG trying ) ( S ( VP ( TO to ) ( VP ( VB use ) ( NP ( DT the ) ( NNP Canton ) ( NNP Trade ) ( NNP Fair ) ) ( S-CLR ( VP ( TO to ) ( VP ( VB lure ) ( ADVP-DIR ( RP back ) ) ( NP ( JJ overseas ) ( NNS traders ) ) ( PP-TMP ( IN after ) ( NP ( NP ( DT the ) ( JJ bloody ) ( NN crackdown ) ) ( PP ( IN on ) ( NP ( NN dissent ) ) ) ) ) ) ) ) ) ) ) ) ) )

Chinese officials are trying to use the Canton Trade Fair to lure back overseas traders after the bloody crackdown on dissent

( S ( CC But ) ( NP-SBJ ( NN attendance ) ) ( VP ( VBZ is ) ( ADVP-PRD ( RB down ) ( PP ( IN from ) ( NP ( JJ previous ) ( NNS years ) ) ) ) ) )

But attendance is down from previous years

( S-4 ( SBAR-ADV ( WHNP-3 ( WP What ) ) ( S ( VP ( VBZ 's ) ( NP-PRD ( JJR more ) ) ) ) ) ( PRN ( S ( NP-SBJ ( DT a ) ( NNP Hong ) ( NNP Kong ) ( NN textile ) ( NN trader ) ) ( VP ( VBZ says ) ) ) ) ( NP-SBJ-1 ( NP ( DT some ) ( JJ Chinese ) ( NNS exporters ) ) ( PP ( IN from ) ( NP ( JJ state-run ) ( NNS enterprises ) ) ) ) ( VP ( VBP are ) ( VP ( VBG protesting ) ( NP ( DT the ) ( NN crackdown ) ) ( PP-MNR ( IN by ) ( S-NOM ( VP ( VBG dragging ) ( NP ( PRP$ their ) ( NNS feet ) ) ( PP-CLR ( IN on ) ( S-NOM ( VP ( VBG soliciting ) ( NP ( JJ new ) ( NN business ) ) ) ) ) ) ) ) ) ) )

What 's more a Hong Kong textile trader says some Chinese exporters from state-run enterprises are protesting the crackdown by dragging their feet on soliciting new business

( S ( S-TPC-1 ( S ( NP-SBJ ( PRP They ) ) ( VP ( VBP are ) ( ADJP-PRD ( JJ angry ) ( PP ( IN about ) ( NP ( DT the ) ( NN government ) ) ) ) ) ) ( RB so ) ( S ( NP-SBJ ( PRP they ) ) ( VP ( VBP hold ) ( PRT ( RP back ) ) ( NP ( DT the ) ( NNS goods ) ) ) ) ) ( NP-SBJ ( PRP he ) ) ( VP ( VBD said ) ) )

They are angry about the government so they hold back the goods he said

( S ( NP-SBJ ( NP ( NP ( DT This ) ( NN autumn ) ( POS 's ) ) ( NN edition ) ) ( PP ( IN of ) ( NP ( DT the ) ( JJ biannual ) ( NN fair ) ) ) ) ( VP ( MD will ) ( VP ( VB run ) ( PP-TMP-CLR ( IN through ) ( NP ( NNP Oct. ) ( CD 31 ) ) ) ) ) )

This autumn 's edition of the biannual fair will run through Oct. 31

( S ( PP-LOC ( IN Inside ) ( NP ( DT the ) ( JJ 156,000-square-yard ) ( NN glass ) ( NN exhibition ) ( NN complex ) ) ) ( NP-SBJ ( NP ( NNS products ) ) ( VP ( VBG ranging ) ( PP ( PP ( IN from ) ( NP ( NN clothing ) ) ) ( PP ( TO to ) ( NP ( NNP AK-47 ) ( NN machine ) ( NNS guns ) ) ) ) ) ) ( VP ( VBP are ) ( PP-PRD ( IN on ) ( NP ( NN display ) ) ) ) )

Inside the 156,000-square-yard glass exhibition complex products ranging from clothing to AK-47 machine guns are on display

( S ( NP-SBJ ( NN Fair ) ( NNS officials ) ) ( VP ( VBP say ) ( SBAR ( IN that ) ( S ( NP-SBJ ( CD 21,000 ) ( NNS guests ) ) ( VP ( VP ( VBD visited ) ( PP-TMP ( IN during ) ( NP ( DT the ) ( JJ first ) ( CD five ) ( NNS days ) ) ) ) ( NP ( NP ( DT a ) ( ADJP ( CD 10 ) ( NN % ) ) ( NN drop ) ) ( PP ( IN from ) ( NP ( DT the ) ( NN spring ) ( NN exhibition ) ) ) ) ) ) ) ) )

Fair officials say that 21,000 guests visited during the first five days a 10 % drop from the spring exhibition

( S ( CC But ) ( NP-SBJ ( NP ( NNP China ) ( POS 's ) ) ( JJ official ) ( NNP Xinhua ) ( NNP News ) ( NNP Agency ) ) ( VP ( VBD reported ) ( SBAR ( IN that ) ( S ( NP-SBJ ( NP ( DT the ) ( NN number ) ) ( PP ( IN of ) ( NP ( JJ foreign ) ( NNS businessmen ) ) ) ) ( VP ( VBD was ) ( ADJP-PRD ( ADJP ( JJR greater ) ) ( PP ( IN than ) ( NP ( DT the ) ( JJ previous ) ( NN fair ) ) ) ) ) ) ) ( PP ( IN without ) ( S-NOM ( VP ( VBG providing ) ( NP ( NNS statistics ) ) ) ) ) ) )

But China 's official Xinhua News Agency reported that the number of foreign businessmen was greater than the previous fair without providing statistics

( S ( PP ( IN In ) ( NP ( NP ( DT another ) ( NN sign ) ) ( PP ( IN of ) ( NP ( NN glasnost ) ) ) ) ) ( NP-SBJ ( NP ( NP ( NP ( NNP Alexander ) ( NNP Solzhenitsyn ) ( POS 's ) ) ( JJ long-banned ) ( NN chronicle ) ) ( PP ( IN of ) ( NP ( JJ Soviet ) ( NN repression ) ) ) ) ( NP-TTL ( DT The ) ( NNP Gulag ) ( NNP Archipelago ) ) ) ( VP ( VBZ is ) ( ADVP-TMP ( RB now ) ) ( NP-PRD ( NP ( JJ recommended ) ( NN reading ) ) ( PP-LOC ( IN in ) ( NP ( CD one ) ( JJ 11th-grade ) ( NNP Moscow ) ( NN history ) ( NN class ) ) ) ) ) )

In another sign of glasnost Alexander Solzhenitsyn 's long-banned chronicle of Soviet repression The Gulag Archipelago is now recommended reading in one 11th-grade Moscow history class

( S ( NP-SBJ ( JJ British ) ( NNS customs ) ( NNS officers ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( PRP they ) ) ( VP ( MD 'd ) ( VP ( VBN arrested ) ( NP ( NP ( CD eight ) ( NNS men ) ) ( VP ( VBG sneaking ) ( NP ( CD 111 ) ( JJ rare ) ( NNS snakes ) ) ( PP-DIR ( IN into ) ( NP ( NNP Britain ) ) ) ) ( PP ( VBG including ) ( NP ( NP ( CD one ) ( NN man ) ) ( SBAR ( WHNP-1 ( WP who ) ) ( S ( VP ( VBD strapped ) ( NP ( NP ( DT a ) ( NN pair ) ) ( PP ( IN of ) ( NP ( NN boa ) ( NNS constrictors ) ) ) ) ( PP-LOC ( IN under ) ( NP ( PRP$ his ) ( NNS armpits ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

British customs officers said they 'd arrested eight men sneaking 111 rare snakes into Britain including one man who strapped a pair of boa constrictors under his armpits

( S ( NP-SBJ ( DT A ) ( NNS customs ) ( NN official ) ) ( VP ( VBD said ) ( SBAR ( S ( NP-SBJ ( DT the ) ( NNS arrests ) ) ( VP ( VBD followed ) ( NP ( NP ( DT a ) ( NNP Snake ) ( NNP Day ) ) ( PP-LOC ( IN at ) ( NP ( NP ( NNP Utrecht ) ( NNP University ) ) ( PP-LOC ( IN in ) ( NP ( DT the ) ( NNP Netherlands ) ) ) ) ) ( NP ( NP ( DT an ) ( NN event ) ) ( VP ( VBN used ) ( PP ( IN by ) ( NP-LGS ( DT some ) ( NNS collectors ) ) ) ( PP-CLR ( IN as ) ( NP ( DT an ) ( NN opportunity ) ( S ( VP ( TO to ) ( VP ( VB obtain ) ( NP ( JJ rare ) ( NNS snakes ) ) ) ) ) ) ) ) ) ) ) ) ) ) )

A customs official said the arrests followed a Snake Day at Utrecht University in the Netherlands an event used by some collectors as an opportunity to obtain rare snakes

( S ( NP-SBJ ( DT The ) ( CD 1986 ) ( NNP Tax ) ( NNP Reform ) ( NNP Act ) ) ( VP ( VBZ has ) ( ADVP ( RB nearly ) ) ( VP ( VBN eliminated ) ( NP ( NP ( DT the ) ( NN number ) ) ( PP ( IN of ) ( NP ( JJ large ) ( JJ profitable ) ( NNS corporations ) ) ) ( SBAR ( WHNP-1 ( WDT that ) ) ( S ( VP ( VBP do ) ( RB n't ) ( VP ( VB pay ) ( NP ( JJ federal ) ( NN income ) ( NN tax ) ) ) ) ) ) ) ( PP ( VBG according ) ( PP ( TO to ) ( NP ( NP ( NP ( NNP Citizens ) ) ( PP ( IN for ) ( NP ( NNP Tax ) ( NNP Justice ) ) ) ) ( NP ( DT a ) ( JJ nonprofit ) ( JJ labor-funded ) ( NN research ) ( CC and ) ( NN lobbying ) ( NN group ) ) ) ) ) ) ) )

The 1986 Tax Reform Act has nearly eliminated the number of large profitable corporations that do n't pay federal income tax according to Citizens for Tax Justice a nonprofit labor-funded research and lobbying group