make.02

frames

[_ARGM-ADV While many of the risks were anticipated *-19 when Minneapolis-based Cray Research first announced the spinoff in May *T*-1] , [_ARG1 the strings 0 it attached *T*-2 to the financing] had [_ARGM-NEG n't] been [_rel made] [_ARG2 *-3 public] [_ARGM-TMP until yesterday] .
But [_ARG0 Asian nations ' harsh memories of their military domination by Japan in the early part of this century] [_rel make] [_ARG1 them] [_ARG2 fearful of * falling under Japanese economic hegemony now] .
The stocks of banking concerns based * in Massachusetts were n't helped *-1 much by the announcement , traders said 0 *T*-2 , because many of those concerns have [_ARG0 financial problems tied * to their real-estate loan portfolios] , * [_rel making] [_ARG1 them] [_ARG2 unattractive takeover targets] .
`` [_ARG0 You] 've got *-2 to [_rel make] [_ARG1 the restructuring] [_ARG2 work] , '' said *T*-1 Mr. Baum .
Currently , margins on stock futures purchases are much lower -- roughly 7 % compared with 50 % for stocks -- [_ARG0 *] [_rel making] [_ARG1 the futures market] [_ARG2 much faster and potentially more speculative] .
But in 1986 , program traders received what *T*-73 amounted to [_ARG0 an exemption from the uptick rule in certain situations] , * to [_rel make] [_ARG1 it *EXP*-1] [_ARG2 easier] * to link the stock and futures markets .
The start of the whole process is the key - [_ARG0 someone] must fundamentally increase or decrease his ownership in widgets *-1 to [_rel make] [_ARG1 widget prices] [_ARG2 move] .
[_ARG0 * Legislating new trading inefficiencies] [_ARGM-MOD will] [_ARGM-ADV only] [_rel make] [_ARG1 things] [_ARG2 harder on the least sophisticated investors] .
*-1 Left *-3 to its own devices , [_ARG0 index arbitrage] will become more and more efficient , *-1 [_rel making] it [_ARG2 harder and harder 0 * to do *T*-2 profitably] .
They say 0 [_ARG0 greedy market manipulators] have [_rel made] [_ARG1 a shambles] of [_ARG2-of the nation 's free-enterprise system] , [_ARGM-ADV *-1 turning the stock market into a big gambling den , with the odds heavily stacked *-2 against the small investor] .
[_ARGM-ADV While program trades swiftly kicked in] , [_ARG0 a `` circuit breaker '' that *T*-1 halted trading in stock futures in Chicago] [_rel made] [_ARG1 some program trading] [_ARG2 impossible] .
[_ARG0 The new Wall Street of computers and automated trading] threatens *-1 to [_rel make] [_ARG1 dinosaurs] of [_ARG2-of the 49 Big Board stock-specialist firms] .
[_ARG0 *] To [_rel make] [_ARG1 them] [_ARG2 directly comparable] , each index is based *-1 on the close of 1969 equaling 100 .
`` Maybe [_ARG0 he] just wants *-2 to [_rel make] [_ARG1 something] [_ARG2 happen] , '' said *T*-1 one takeover expert .
[_ARG0 The measure] [_ARGM-MOD would] [_rel make] it *EXP*-1 [_ARG2 easier] [_ARG1 for the Transportation Department to block leveraged buy-outs in the industry] .
A fund manager at a life-insurance company said 0 [_ARG0 three factors] [_rel make] it *EXP*-1 [_ARG2 difficult] [_ARG1 * to read market direction] .
[_ARG0 *] To [_rel make] [_ARG1 them] [_ARG2 directly comparable] , each index is based *-56 on the close of 1969 equaling 100 .
But [_ARG0 other sectors] failed *-1 to attract investor interest and remained sluggish , *-1 [_rel making] [_ARG1 overall trading] [_ARG2 appear mixed] .
[_ARG0 Southern Co. 's Gulf Power Co. subsidiary] pleaded guilty to two felony charges of conspiracy * to [_rel make] [_ARG1 illegal political contributions] and tax evasion , and paid $ 500,000 *U* in fines .
The general public may not know his name , but he 's famous -- [_ARG0 *] [_rel make] [_ARG1 that] [_ARG2 infamous] -- in advertising circles : *-1 A marketing consultant , he pioneered *-1 slashing ad agency commissions , to the delight of advertising clients and the dismay of agencies .
* Quoting from the report : `` [_ARG0 The stock 's narrow discount to asset valuation] [_rel makes] [_ARG1 it] [_ARG2 a relatively unappealing investment at current prices] , [_ARGM-ADV especially given the risk that our projections could be on the aggressive side] . ''
At the same time , [_ARG0 steelmakers] are trying *-1 to invest more *-2 to modernize technology and [_rel make] [_ARG1 themselves] [_ARG2 more competitive] .
In * following [_ARG0 several other oil and gas partnerships] that *T*-1 have [_rel made] [_ARG1 the conversion to a corporation] [_ARGM-TMP in the last year] , NRM also noted that tax advantages for partnerships have diminished under new tax laws and said 0 it would save $ 2 million *U* a year in administrative costs from the change .
[_ARG0 The purchase , expected * to be completed *-1 by year end ,] [_ARGM-MOD will] [_rel make] [_ARG1 Quebecor] [_ARG2 the second-largest commercial printer in North America , behind only R.R. Donnelley & Sons Co. , Chicago] .
[_ARG0 A series of recent acquisitions] [_rel made] [_ARG1 it] [_ARG2 the dominant magazine publisher in Quebec] .
[_ARG0 That] [_ARGM-MOD would] [_rel make] [_ARG1 it] [_ARG2 the second-largest bank , after Barnett Banks Inc. , in a state widely considered * to be the most lucrative banking market in the country] .
Maxwell agreed *-1 to sell its U.S. printing unit to Quebecor for $ 500 million *U* , [_ARG0 *] [_rel making] [_ARG1 Quebecor] [_ARG2 the No. 2 commercial printer in North America] .
[_ARGM-TMP At the same time] , [_ARG0 the sheer size of the loss , coupled * with a slowing of orders ,] [_rel made] [_ARG1 some securities analysts] [_ARG2 wonder just how strong that turnaround will be *T*-1 at the computer maker and defense-electronics concern] .
[_ARG0 The most controversial form of program trading , stock-index arbitrage ,] is `` [_rel making] it *EXP*-1 [_ARG2 tough] [_ARG1 for traders to make money] , '' declares *T*-2 Robert Antolini , head of OTC trading at Donaldson , Lufkin & Jenrette .
[_ARG0 *] To [_rel make] [_ARG1 them] [_ARG2 directly comparable] , each index is based *-1 on the close of 1969 equaling 100 .
The only way 0 you can make it a big deal *T*-2 is * to draw [_ARG0 linkages] that *T*-1 [_ARGM-ADV just] do [_ARGM-NEG n't] [_rel make] [_ARG1 sense] . ''
[_ARG0 A seizure] [_ARGM-DIS also] [_ARGM-MOD would] [_rel make] [_ARG1 the case] [_ARG2 the largest -- and one of the first -- in which lawyers ' fees have been confiscated *-1 in a prosecution unrelated to drugs *T*-2] .
But David N. McCammon , vice president , finance , insisted that [_ARG0 cost-cutting and tight production capacity] [_ARGM-MOD will] [_rel make] [_ARG1 results] `` [_ARG2 better *ICH*-1] [_ARGM-TMP in this downturn] [_ARGM-ADV than in prior downturns , '' when Ford had net losses *T*-2] .
But [_ARG0 problems in manufacturing , * forecasting demand and * getting the bugs out of a new management information system] [_rel made] it *EXP*-1 [_ARG2 extremely difficult] [_ARG1 for Sun to meet demand for its newest computers] [_ARGM-TMP well into the summer] .
`` Payments are good right now , but we are n't recommending any long-term lines of credit , '' says *T*-2 Richard Hastings , a retail credit analyst , *-3 referring to [_ARG0 credit lines] which *T*-1 [_rel make] [_ARG1 inventory purchases] [_ARG2 automatic] .
That gives them both the threat of a strike and the ability * to resist [_ARG0 any wage concessions] that *T*-1 may be necessary *-2 to [_rel make] [_ARG1 a transaction] [_ARG2 work] .
[_ARG0 Both the pilots and machinists] have [_rel made] it *EXP*-1 [_ARG2 clear] [_ARG1 that they intend *-3 to block any transaction 0 they do n't like *T*-2] .
[_ARG0 The pilots ' insistence on majority ownership] [_ARGM-DIS also] [_ARGM-MOD may] [_rel make] [_ARG1 the idea of a recapitalization] [_ARG2 difficult 0 * to achieve *T*-1] .
[_ARG0 *] To [_rel make] [_ARG1 them] [_ARG2 directly comparable] , each index is based *-1 on the close of 1969 equaling 100 .
Philip Morris Cos. , New York , adopted [_ARG0 a defense measure] designed * to [_rel make] [_ARG1 a hostile takeover] [_ARG2 prohibitively expensive] .
Japan is going on [_ARG0 a capital-spending binge] that *T*-1 [_ARGM-MOD could] [_rel make] [_ARG1 its trade surpluses] [_ARG2 even harder 0 * to shrink *T*-2] .
`` The boom 's so huge , '' says *T*-1 Mitsuru Saito , an economist at Sanwa Research Institute , `` 0 [_ARG0 it] [_rel makes] [_ARG1 you] [_ARG2 think of the Golden '60s , '' when Japan developed rapidly *T*-2] .
[_ARG0 The buildup] is `` [_rel making] [_ARG1 Japan] [_ARG2 clearly more efficient , more technologically advanced and more competitive] , '' declares 0 *T*-1 a Western diplomat in Tokyo .
But new-product development will make Japanese companies stronger , and [_ARG0 big investments in `` domestic '' industries such as beer] [_ARGM-MOD will] [_rel make] it *EXP*-1 [_ARG2 even tougher] [_ARG1 for foreign competitors to crack the Japanese market] .
[_ARGM-DIS But] [_ARG0 new-product development] [_ARGM-MOD will] [_rel make] [_ARG1 Japanese companies] [_ARG2 stronger] , and big investments in `` domestic '' industries such as beer will make it *EXP*-1 even tougher for foreign competitors to crack the Japanese market .
[_ARG1 Details of the restructuring] [_ARGM-MOD wo] [_ARGM-NEG n't] be [_rel made] *-1 [_ARG2 final] [_ARGM-TMP until regulators approve the regulations mandated * by the new federal act] , the company said 0 *T*-2 .
And although [_ARG0 the recent turmoil in the stock and junk-bond markets] , by *-1 [_rel making] it *EXP*-2 [_ARG2 harder] [_ARG1 * to arrange takeover financing] , has eased some of the pressure on Mr. Corry , it does n't end the takeover threat .
But [_ARG0 the recent volatility in stock prices caused * by the program trading] has [_rel made] [_ARG1 some market makers] [_ARG2 less willing *-2 to soak up the stocks that *T*-1 are for sale] .
[_ARG0 The situation] [_rel makes] it *EXP*-1 [_ARG2 harder] [_ARG1 * to buy and sell shares quickly] , [_ARGM-ADV * exacerbating the rise and fall in stock prices during program-dominated trading] .
Groused *ICH*-2 Robert Antolini , head of over-the-counter trading at Donaldson , Lufkin & Jenrette : `` [_ARG0 It 's] [_rel making] it *EXP*-3 [_ARG2 tough] [_ARG1 for traders to make money] . ''
Groused *ICH*-2 Robert Antolini , head of over-the-counter trading at Donaldson , Lufkin & Jenrette : `` It 's making it *EXP*-3 tough for [_ARG0 traders] to [_rel make] [_ARG1 money] . ''
Joseph Flom , of Skadden , Arps , Slote , Meagher & Flom , which *T*-1 became a leading legal firm in merger cases , said 0 [_ARG0 the case] `` [_rel made] [_ARG1 takeovers] [_ARG2 respectable] . ''
In the process , [_ARG0 4.9 million shares] traded , * [_rel making] [_ARG1 UAL] [_ARG2 the second most active issue on the Big Board] .
`` If you want *-1 to cut through the clutter , [_ARG0 you] have *-2 to [_rel make] [_ARG1 your message] [_ARG2 as distinct , sharp and individual as possible] .
[_ARG0 The effort] [_ARGM-MOD will] [_rel make] [_ARG1 the Peanuts gang] [_ARG2 very familiar pitchmen] [_ARGM-TMP in 1990] .
Apogee said 0 [_ARG0 a subcontractor] had severe cost overruns and was unable *-1 to fulfill the contract terms on its own , * [_rel making] it *EXP*-4 [_ARG2 necessary] [_ARG1 for Apogee to advance cash *-3 to ensure completion of the project] .
He predicted that the most popular growth companies will be those with `` [_ARG0 some kind of unique product or franchise] '' that *T*-1 [_rel makes] [_ARG1 them] [_ARG2 appear able *-2 to sustain their momentum] .
`` Batman '' alone has racked up more than $ 247 million *U* in box-office receipts to date , [_ARG0 *] [_rel making] [_ARG1 it] [_ARG2 Warner Bros . ' largest grossing film ever] .
Several observers interpreted Mr. Dozen 's appointment as an attempt *ICH*-3 by [_ARG0 Daiwa] * to [_rel make] [_ARG1 its international operations] [_ARG2 more profitable] [_ARGM-TMP while *-2 preparing the firm for the effects of the continuing deregulation of Japan 's domestic markets , which *T*-1 should mean increased competition] .
Its cash-or-shares bid values Navigation Mixte at about 22.82 billion francs -LRB- $ 3.62 billion *U* -RRB- , [_ARG0 *] [_rel making] [_ARG1 this] [_ARG2 one of France 's largest-ever attempted takeovers] .
[_ARG0 It] [_ARGM-DIS also] [_ARGM-MOD would] [_rel make] [_ARG1 Paribas] [_ARG2 a major French ally of West Germany 's Allianz AG insurance group] .
The Venezuelan currency plummeted this year , [_ARG0 *] [_rel making] it *EXP*-1 [_ARG2 difficult] [_ARG1 for auto makers there to afford imported parts] .
[_ARG0 The move] [_ARGM-MOD will] give Nuovo Banco a badly needed foreign presence , and [_rel make] [_ARG1 Credit Agricole] [_ARG2 the bank 's largest shareholder] .
Meanwhile , Ford officials became convinced 0 they could n't expect *-2 to recover [_ARG0 the investment] 0 it would require *T*-1 * to [_rel make] [_ARG1 Saab 's cars] [_ARG2 competitive in the increasingly crowded luxury market] .
[_ARG0 The failure of the Saab talks] `` [_rel makes] it *EXP*-2 [_ARG2 even more crucial] [_ARG1 for -LCB- Ford -RCB- to be victorious '' in the Jaguar contest] , said *T*-1 Stephen Reitman , European auto industry analyst at UBS-Phillips & Drew in London .
He said 0 the provision `` was n't forced upon us , but [_ARG0 the regulators] [_rel made] it *EXP*-1 [_ARG2 very clear] [_ARG1 what they thought 0 *T*-2 was an appropriate number] . ''
Mr. Marrie said 0 the problems in Arizona have only `` increased our resolve [_ARG0 *] to continue *-1 to [_rel make] [_ARG1 our restructuring] [_ARG2 even more effective] . ''
Since its inception , [_ARG0 Conner] has both benefited from *RNR*-1 and helped *-3 [_rel make] [_ARG2 possible *RNR*-1] [_ARG1 the rapid spread of portable computers] by *-3 selling storage devices that *T*-2 consume five to 10 times less electricity than drives used * in desktop machines .
`` [_ARG0 It] [_rel makes] [_ARG1 people think , maybe this guy is n't so squeaky clean after all] , '' says *T*-1 Mr. Garth , Mayor Koch 's media consultant .
[_ARG0 The Dow Jones industrials] rose 5.94 , to 2689.14 , * [_rel making] [_ARG1 the gain for the week] [_ARG2 a record 119.88 points , or 4.7 %] .
[_ARG0 Growth of 10 %] [_ARGM-MOD would] [_rel make] [_ARG1 sales for the latest quarter] [_ARG2 $ 269 million *U* , compared with $ 244.6 million *U* a year ago] .
Suppliers were also hurt *-2 by [_ARG0 the stronger U.S. dollar] , which *T*-1 [_rel makes] [_ARG1 sales abroad] [_ARG2 more difficult] .
[_ARG0 An accounting adjustment] [_rel made] [_ARG1 net income] [_ARG2 $ 1.5 million *U* , or 18 cents a share] .
[_ARG0 Barbra Streisand] [_rel made] [_ARG1 him] [_ARG2 famous] .
When Roger Birnbaum , an executive who *T*-1 worked for Guber Peters in the early 1980s , left *-3 to take a job as head of production at the United Artists studio *T*-2 , [_ARG0 they] [_rel made] [_ARG1 him] [_ARG2 forfeit all credits and financial interest in the films 0 he had helped *-5 develop *T*-4 , including `` Rainman '' and `` Batman] . ''
[_ARG0 Peter] [_ARGM-MOD will] take the kernel of that idea and [_rel make] [_ARG1 it] [_ARG2 grow into something specific] ... . ''
And [_ARG0 the failures] [_rel make] it *EXP*-1 [_ARG2 possible] [_ARG1 for Warner in its current lawsuit to paint the producers as ingrates] .
[_ARG0 *] To [_rel make] [_ARG1 them] [_ARG2 directly comparable] , each index is based *-1 on the close of 1969 equaling 100 .
That was before [_ARG0 the 1986 tax `` reform ''] [_rel made] [_ARG1 taxes] [_ARG2 more complex than ever] .
[_ARG0 Buying] was scattered *-3 across a wide range of issues , * [_rel making] [_ARG1 the session] [_ARG2 fairly characterless] , traders said 0 *T*-1 .
[_ARG0 *] To [_rel make] [_ARG1 them] [_ARG2 directly comparable] , each index is based *-1 on the close of 1969 equaling 100 .
[_ARGM-DIS Thus] [_ARG0 B.A.T 's restructuring] [_ARGM-MOD may] [_ARGM-ADV only] [_rel make] [_ARG1 the company] [_ARG2 a more manageable target for other corporate predators -- possibly such acquisitive bidders as Hanson PLC] .
[_ARGM-ADV Though Sir James has said 0 he intends *-2 to mount a new bid for B.A.T once approval from U.S. insurance regulators is received *-1] , [_ARG0 jitters over prospects for junk-bond financing and U.S. leverage buy-outs] are [_rel making] [_ARG1 investors] [_ARG2 more skeptical about Sir James 's prospects] .
[_ARG0 COMPANIES] SEEKING * to [_rel make] [_ARG1 insurers] [_ARG2 pay for pollution cleanup] win court victory .
William Greaney , an attorney for the Chemical Manufacturers Association , said that [_ARGM-ADV while other appeals courts have ruled differently on whether cleanup costs are damages] , [_ARG0 the influence of the appeals court in New York] `` [_ARGM-MOD will] [_rel make] [_ARG1 insurers] [_ARG2 sit up and listen] . ''
[_ARG0 GM 's help] [_ARGM-MOD would] `` [_rel make] it *EXP*-1 [_ARG2 possible] [_ARG1 -LCB- for Jaguar -RCB- to build a wider range of cars] . ''
`` [_ARG0 We] have *-2 to [_rel make] [_ARG1 it] [_ARG2 attractive enough that -LCB- holders -RCB- would accept it] , '' Sir John said *T*-1 .
Dow blamed the third-quarter earnings drop on several factors , including softer prices for polyethylene and other basic chemicals , a slower U.S. economy and [_ARG0 a stronger dollar] , which *T*-1 [_rel made] [_ARG1 Dow 's exports from the U.S.] [_ARG2 more expensive to overseas customers] .
[_ARG0 *] To [_rel make] [_ARG1 them] [_ARG2 directly comparable] , each index is based *-1 on the close of 1969 equaling 100 .
-LRB- [_ARG0 Jaguar 's ADRs] [_rel make] [_ARG1 the company] [_ARG2 one of the most widely held United Kingdom stocks in the U.S.] , [_ARGM-ADV with more than one-fourth of its shares owned *-1 there] . -RRB-
`` I 'm forever dumbfounded *-2 by [_ARG0 what] I see *T*-1 [_rel making] [_ARG1 these high prices] . ''
[_ARG0 The roller-coaster stock market] is [_rel making] [_ARG1 life] [_ARG2 tougher for small companies trying * to raise money] .
[_ARGM-CAU Partly because the 1987 market crash made it harder for them to find financing] , [_ARG0 many high-technology concerns] have [_rel made] [_ARG1 such alliances] [_ARGM-TMP recently] .
Mr. Calloway also noted that [_ARG0 soft-drink volume] rose a hefty 9 % in last year 's third quarter , * [_rel making] [_ARG1 the comparison] [_ARG2 more difficult] .
The computer maker , which *T*-2 sells more than half its goods outside the U.S. , also said 0 [_ARG0 the negative effect of a stronger U.S. dollar] [_ARGM-MOD will] `` adversely affect '' its fourth-quarter performance and `` [_rel make] it *EXP*-1 [_ARG2 difficult] '' [_ARG1 * to better 1988 results] .