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[ "Combustion", "Engineering", "Inc.", "said", "third-quarter", "net", "income", "of", "$", "22.8", "million", ",", "reversing", "a", "$", "91.7", "million", "year-earlier", "loss", ".", "The", "Stamford", ",", "Conn.", ",", "power-generation", "products", "and", "services", "company", "said", "per-share", "earnings", "were", "56", "cents", "compared", "with", "the", "year-ago", "loss", "of", "$", "2.39", ".", "Sales", "fell", "1.5", "%", "to", "$", "884", "million", "from", "$", "897.2", "million", ".", "Strong", "profit", "in", "the", "process", "industries", ",", "including", "chemical", "and", "pulp", "and", "paper", ",", "were", "offset", "by", "higher", "interest", "expense", "and", "by", "lower", "earnings", "as", "the", "company", "closed", "out", "certain", "long-term", "contracts", ".", "Combustion", "reported", "improved", "profits", "in", "its", "automation", "and", "control", "products", "businesses", ",", "and", "it", "narrowed", "its", "losses", "in", "its", "public", "sector", "and", "environmental", "segment", ".", "Power", "generation", "had", "higher", "sales", "but", "lower", "earnings", ";", "the", "company", "cited", "factors", "including", "work", "on", "certain", "low", "profit-margin", "contracts", "from", "previous", "years", ".", "Net", "in", "the", "latest", "quarter", "included", "a", "pretax", "gain", "of", "$", "22.4", "million", "from", "the", "sale", "of", "Combustion", "'s", "minority", "interest", "in", "Stein", "Industrie", "to", "GEC", "Alsthom", "N.V.", "of", "the", "Netherlands", ".", "Last", "year", "'s", "results", "reflected", "a", "gain", "of", "$", "28.2", "million", "on", "disposition", "of", "assets", "and", "a", "$", "165", "million", "pretax", "provision", "mainly", "from", "costs", "of", "completing", "certain", "waste-to-energy", "and", "other", "power", "plants", "." ]
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[ "R.", "Gordon", "McGovern", "was", "forced", "out", "as", "Campbell", "Soup", "Co.", "'s", "president", "and", "chief", "executive", "officer", ",", "the", "strongest", "evidence", "yet", "of", "the", "power", "that", "Dorrance", "family", "members", "intend", "to", "wield", "in", "reshaping", "the", "troubled", "food", "company", ".", "Herbert", "M.", "Baum", ",", "the", "53-year-old", "president", "of", "the", "company", "'s", "Campbell", "U.S.A.", "unit", ",", "and", "Edwin", "L.", "Harper", ",", "47", ",", "the", "chief", "financial", "officer", ",", "will", "run", "Campbell", "as", "a", "team", ",", "dividing", "responsibilities", "rather", "evenly", "until", "a", "successor", "is", "named", ".", "The", "board", "already", "has", "been", "searching", "for", "strong", "outside", "candidates", ",", "including", "food-industry", "executives", "with", "considerable", "international", "experience", ".", "Wall", "Street", "reacted", "favorably", "to", "Mr.", "McGovern", "'s", "departure", "and", "its", "implications", ".", "In", "heavy", "trading", "on", "the", "New", "York", "Stock", "Exchange", ",", "Campbell", "'s", "shares", "rose", "$", "3.375", "to", "close", "at", "$", "47.125", ".", "``", "The", "profit", "motive", "of", "the", "major", "shareholders", "has", "clearly", "changed", "for", "the", "better", ",", "''", "said", "John", "McMillin", ",", "a", "food", "industry", "analyst", "for", "Prudential-Bache", "in", "New", "York", ".", "Mr.", "McGovern", "was", "widely", "seen", "as", "sales", ",", "and", "not", "profit", ",", "oriented", ".", "``", "New", "managers", "would", "think", "a", "little", "more", "like", "Wall", "Street", ",", "''", "Mr.", "McMillin", "added", ".", "Some", "of", "the", "surge", "in", "the", "stock", "'s", "price", "appeared", "to", "be", "linked", "to", "revived", "takeover", "speculation", ",", "which", "has", "contributed", "to", "volatility", "of", "Campbell", "shares", "in", "recent", "months", ".", "Campbell", "'s", "international", "businesses", ",", "particularly", "in", "the", "U.K.", "and", "Italy", ",", "appear", "to", "be", "at", "the", "heart", "of", "its", "problems", ".", "Growth", "has", "fallen", "short", "of", "targets", "and", "operating", "earnings", "are", "far", "below", "results", "in", "U.S.", "units", ".", "For", "example", ",", "Campbell", "is", "a", "distant", "third", "in", "the", "U.K.", "frozen", "foods", "market", ",", "where", "it", "recently", "paid", "24", "times", "earnings", "for", "Freshbake", "Foods", "PLC", "and", "wound", "up", "with", "far", "more", "capacity", "than", "it", "could", "use", ".", "Similarly", ",", "Campbell", "'s", "Italian", "biscuit", "operation", ",", "D.", "Lazzaroni", "&", "Co.", ",", "has", "been", "hurt", "by", "overproduction", "and", "distribution", "problems", ".", "Such", "problems", "will", "require", "considerable", "skill", "to", "resolve", ".", "However", ",", "neither", "Mr.", "Baum", "nor", "Mr.", "Harper", "has", "much", "international", "experience", ".", "Mr.", "Baum", ",", "a", "seasoned", "marketer", "who", "is", "said", "to", "have", "a", "good", "rapport", "with", "Campbell", "employees", ",", "will", "have", "responsibility", "for", "all", "domestic", "operations", "except", "the", "Pepperidge", "Farm", "unit", ".", "Mr.", "Harper", ",", "a", "veteran", "of", "several", "manufacturing", "companies", "who", "joined", "Campbell", "in", "1986", ",", "will", "take", "charge", "of", "all", "overseas", "operations", "as", "well", "as", "Pepperidge", ".", "In", "an", "joint", "interview", "yesterday", ",", "both", "men", "said", "they", "would", "like", "to", "be", "the", "company", "'s", "next", "chief", "executive", ".", "Mr.", "McGovern", ",", "63", ",", "had", "been", "under", "intense", "pressure", "from", "the", "board", "to", "boost", "Campbell", "'s", "mediocre", "performance", "to", "the", "level", "of", "other", "food", "companies", ".", "The", "board", "is", "dominated", "by", "the", "heirs", "of", "the", "late", "John", "T.", "Dorrance", "Jr.", ",", "who", "controlled", "about", "58", "%", "of", "Campbell", "'s", "stock", "when", "he", "died", "in", "April", ".", "In", "recent", "months", ",", "Mr.", "Dorrance", "'s", "children", "and", "other", "family", "members", "have", "pushed", "for", "improved", "profitability", "and", "higher", "returns", "on", "their", "equity", ".", "In", "August", ",", "the", "company", "took", "a", "$", "343", "million", "pretax", "charge", "against", "fiscal", "1989", "earnings", "when", "it", "announced", "a", "world-wide", "restructuring", "plan", ".", "The", "plan", "calls", "for", "closing", "at", "least", "nine", "plants", "and", "eliminating", "about", "3,600", "jobs", ".", "But", "analysts", "said", "early", "results", "from", "the", "reorganization", "have", "been", "disappointing", ",", "especially", "in", "Europe", ",", "and", "there", "were", "signs", "that", "the", "board", "became", "impatient", ".", "Campbell", "officials", "said", "Mr.", "McGovern", "was", "n't", "available", "yesterday", "to", "discuss", "the", "circumstances", "of", "his", "departure", ".", "The", "company", "'s", "prepared", "statement", "quoted", "him", "as", "saying", ",", "``", "The", "CEO", "succession", "is", "well", "along", "and", "I", "'ve", "decided", "for", "personal", "reasons", "to", "take", "early", "retirement", ".", "''", "But", "people", "familiar", "with", "the", "agenda", "of", "the", "board", "'s", "meeting", "last", "week", "in", "London", "said", "Mr.", "McGovern", "was", "fired", ".", "Mr.", "McGovern", "himself", "had", "said", "repeatedly", "that", "he", "intended", "to", "stay", "on", "until", "he", "reached", "the", "conventional", "retirement", "age", "of", "65", "in", "October", "1991", ",", "``", "unless", "I", "get", "fired", ".", "''", "Campbell", "said", "Mr.", "McGovern", "had", "withdrawn", "his", "name", "as", "a", "candidate", "for", "re-election", "as", "a", "director", "at", "the", "annual", "shareholder", "meeting", ",", "scheduled", "for", "Nov.", "17", ".", "For", "fiscal", "1989", ",", "Mr.", "McGovern", "received", "a", "salary", "of", "$", "877,663", ".", "He", "owns", "about", "45,000", "shares", "of", "Campbell", "stock", "and", "has", "options", "to", "buy", "more", "than", "100,000", "additional", "shares", ".", "He", "will", "be", "eligible", "for", "an", "annual", "pension", "of", "more", "than", "$", "244,000", "with", "certain", "other", "fringe", "benefits", ".", "During", "Mr.", "McGovern", "'s", "nine-year", "term", "as", "president", ",", "the", "company", "'s", "sales", "rose", "to", "$", "5.7", "billion", "from", "$", "2.8", "billion", "and", "net", "income", "increased", "to", "$", "274", "million", "from", "$", "130", "million", ",", "the", "statement", "said", ".", "Mr.", "Baum", "said", "he", "and", "Mr.", "Harper", "both", "advocated", "closing", "some", "plants", "as", "long", "ago", "as", "early", "1988", ".", "``", "You", "'ve", "got", "to", "make", "the", "restructuring", "work", ",", "''", "said", "Mr.", "Baum", ".", "``", "You", "'ve", "got", "to", "make", "those", "savings", "now", ".", "''", "Mr.", "Harper", "expressed", "confidence", "that", "he", "and", "Mr.", "Baum", "can", "convince", "the", "board", "of", "their", "worthiness", "to", "run", "the", "company", ".", "``", "We", "look", "upon", "this", "as", "a", "great", "opportunity", "to", "prove", "the", "fact", "that", "we", "have", "a", "tremendous", "management", "team", ",", "''", "he", "said", ".", "He", "predicted", "that", "the", "board", "would", "give", "the", "current", "duo", "until", "early", "next", "year", "before", "naming", "a", "new", "chief", "executive", ".", "Mr.", "Baum", "said", "the", "two", "have", "orders", "to", "``", "focus", "on", "bottom-line", "profits", "''", "and", "to", "``", "take", "a", "hard", "look", "at", "our", "businesses", "--", "what", "is", "good", ",", "what", "is", "not", "so", "good", ".", "''", "Analysts", 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"punct", "punct", "root", "compound", "nsubj", "punct", "punct", "nsubj", "root", "mark", "xcomp", "punct" ]
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[ "Southam", "Inc.", "said", "its", "unprofitable", "weekly", "newspaper", ",", "The", "Financial", "Times", "of", "Canada", ",", "is", "up", "for", "sale", ".", "Analysts", "said", "the", "announcement", ",", "the", "latest", "in", "a", "series", "of", "divestitures", "and", "restructuring", "moves", ",", "is", "aimed", "at", "improving", "Southam", "'s", "earnings", "before", "the", "expiration", "in", "June", "of", "a", "standstill", "pact", "with", "Torstar", "Corp", ".", "When", "that", "agreement", "expires", ",", "Torstar", "will", "be", "free", "to", "increase", "its", "22.4", "%", "stake", "in", "Southam", ",", "or", "to", "make", "an", "offer", "for", "the", "whole", "company", ".", "Descendants", "of", "the", "Southam", "family", "hold", "an", "additional", "22.6", "%", "stake", "in", "the", "Toronto-based", "company", ",", "Canada", "'s", "largest", "newspaper", "publisher", ".", "The", "newspaper", "could", "fetch", "between", "15", "million", "and", "20", "million", "Canadian", "dollars", "(", "US$", "12.8", "million", "to", "$", "17.1", "million", ")", ",", "said", "one", "analyst", ",", "who", "asked", "not", "to", "be", "identified", ".", "A", "spokesman", "for", "Southam", "declined", "to", "comment", "on", "the", "price", "the", "company", "is", "seeking", "or", "on", "estimates", "of", "the", "paper", "'s", "annual", "losses", ",", "which", "most", "analysts", "place", "at", "between", "C$", "4", "million", "and", "C$", "7", "million", ".", "Yesterday", ",", "Southam", "reported", "third-quarter", "earnings", "of", "C$", "10.8", "million", "on", "revenue", "of", "C$", "395.4", "million", ",", "down", "from", "C$", "14.6", "million", "on", "revenue", "of", "C$", "389.6", "million", "in", "the", "year-ago", "quarter", ".", "``", "To", "be", "profitable", ",", "the", "paper", "requires", "more", "circulation", "and", "building", "circulation", "is", "an", "expensive", "undertaking", ",", "''", "said", "John", "Macfarlane", ",", "the", "paper", "'s", "publisher", ".", "Southam", "said", "the", "level", "of", "future", "investment", "required", "by", "the", "paper", "would", "have", "restricted", "its", "options", "in", "other", "areas", ".", "The", "acquisition", "of", "the", "Financial", "Times", "of", "Canada", "is", "``", "well", "within", "reach", "for", "any", "number", "of", "media", "companies", ",", "both", "public", "and", "private", ",", "''", "said", "James", "Cole", ",", "an", "analyst", "with", "Toronto-based", "BBN", "James", "Capel", "Inc", ".", "Possible", "bidders", "include", "Christopher", "Ondaatje", ",", "a", "Toronto", "financier", "and", "vice", "chairman", "of", "Hees", "International", "Bancorp", "Inc.", ",", "a", "holding", "company", "controlled", "by", "Toronto", "'s", "Bronfman", "family", ".", "Mr.", "Ondaatje", "sold", "his", "stake", "in", "Pagurian", "Corp.", "to", "Hees", "earlier", "this", "year", "and", "is", "said", "to", "be", "seeking", "a", "media", "acquisition", ".", "Mr.", "Ondaatje", "could", "n't", "be", "reached", "for", "comment", ",", "but", "Roy", "Mac-Laren", ",", "chairman", "of", "CB", "Media", ",", "a", "closely", "held", "concern", "that", "publishes", "two", "business", "magazines", ",", "said", "his", "company", "would", "take", "a", "close", "look", "at", "the", "newspaper", ".", "Mr.", "Cole", "said", "the", "sale", "of", "the", "77-year", "Financial", "Times", ",", "which", "Southam", "has", "owned", "since", "1961", ",", "is", "consistent", "with", "Southam", "'s", "strategy", "of", "cutting", "costs", "to", "obtain", "maximum", "profits", "from", "its", "operations", "while", "disposing", "of", "``", "chronically", "under-performing", "''", "assets", ".", "Southam", "agreed", "to", "sell", "its", "47", "%", "stake", "in", "Selkirk", "Communications", "Ltd.", ",", "a", "broadcasting", "concern", ",", "to", "Maclean", "Hunter", "Ltd.", "for", "about", "C$", "285", "million", "last", "year", ".", "This", "year", ",", "it", "has", "moved", "to", "cut", "costs", "in", "its", "newspaper", "division", "through", "layoffs", "and", "asset", "sales", ",", "while", "reaching", "joint", "venture", "and", "acquisition", "agreements", "in", "other", "areas", ".", "The", "Financial", "Times", "of", "Canada", "has", "no", "links", "to", "the", "British", "daily", "newspaper", ",", "The", "Financial", "Times", "." ]
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[ "The", "parent", "of", "Younkers", ",", "after", "failing", "to", "find", "a", "buyer", "for", "the", "chain", "of", "Midwestern", "department", "stores", ",", "said", "it", "will", "sell", "a", "stake", "in", "the", "chain", "to", "management", "and", "take", "other", "steps", "to", "reduce", "its", "investment", "in", "retailing", ".", "Equitable", "of", "Iowa", "Cos.", ",", "Des", "Moines", ",", "had", "been", "seeking", "a", "buyer", "for", "the", "36-store", "Younkers", "chain", "since", "June", ",", "when", "it", "announced", "its", "intention", "to", "free", "up", "capital", "to", "expand", "its", "insurance", "business", ".", "But", "Equitable", "said", "it", "was", "unable", "to", "find", "a", "buyer", "willing", "to", "pay", "what", "it", "considers", "``", "fair", "value", "''", "for", "Younkers", "because", "of", "recent", "turmoil", "in", "the", "bond", "and", "stock", "markets", "and", "in", "retailing", ".", "Younkers", "rang", "up", "sales", "in", "1988", "of", "$", "313", "million", ".", "It", "operates", "stores", "mostly", "in", "Iowa", "and", "Nebraska", ".", "Younkers", "management", "is", "likely", "to", "buy", "a", "10", "%", "to", "20", "%", "interest", "in", "the", "chain", "in", "January", ",", "said", "Fred", "S.", "Hubbell", ",", "Equitable", "'s", "president", "and", "chief", "executive", "officer", ".", "He", "said", "Equitable", "hopes", "to", "eventually", "reduce", "its", "stake", "in", "Younkers", "to", "less", "than", "50", "%", "." ]
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[ "Industrial", "production", "declined", "0.1", "%", "in", "September", ",", "reinforcing", "other", "signs", "that", "the", "manufacturing", "sector", "continues", "its", "slowing", "trend", ".", "The", "Federal", "Reserve", "Board", "said", "output", "of", "the", "nation", "'s", "factories", ",", "mines", "and", "utilities", "expanded", "at", "an", "annual", "rate", "of", "1.3", "%", "in", "the", "third", "quarter", ",", "substantially", "slower", "than", "the", "3.3", "%", "annual", "rate", "in", "the", "second", "quarter", ".", "``", "Capital", "spending", "and", "exports", ",", "which", "have", "been", "the", "driving", "force", "in", "this", "expansion", ",", "are", "showing", "clear", "signs", "of", "having", "the", "steam", "taken", "out", "of", "them", ",", "''", "said", "Robert", "Dederick", ",", "economist", "for", "Northern", "Trust", "Co.", "in", "Chicago", ".", "The", "new", "reports", "of", "sluggishness", ",", "which", "were", "foreshadowed", "by", "an", "earlier", "Labor", "Department", "report", "that", "manufacturing", "payrolls", "dropped", "by", "105,000", "in", "September", ",", "give", "the", "Fed", "another", "reason", "to", "further", "ease", "its", "grip", "on", "credit", "and", "lower", "interest", "rates", ".", "``", "They", "need", "to", "do", "something", "about", "this", ",", "''", "said", "Maury", "Harris", ",", "economist", "at", "PaineWebber", "Group", "Inc", ".", "The", "Fed", "also", "said", "U.S.", "industry", "operated", "at", "83.6", "%", "of", "capacity", "last", "month", ",", "down", "from", "83.8", "%", "in", "August", ".", "Measures", "of", "manufacturing", "activity", "fell", "more", "than", "the", "overall", "measures", ".", "Factory", "output", "dropped", "0.2", "%", ",", "its", "first", "decline", "since", "February", ",", "after", "having", "been", "unchanged", "in", "October", ".", "Factories", "operated", "at", "83.7", "%", "of", "capacity", ",", "the", "lowest", "rate", "in", "more", "than", "a", "year", "and", "down", "from", "84.1", "%", "in", "September", ".", "The", "declines", "mainly", "reflected", "widespread", "weakness", "in", "durable", "goods", ",", "those", "intended", "to", "last", "more", "than", "three", "years", ".", "The", "biggest", "drop", "was", "recorded", "by", "primary", "metals", "producers", ",", "a", "category", "that", "includes", "the", "steel", "industry", ".", "Output", "of", "business", "equipment", "was", "unchanged", "in", "September", ".", "Production", "of", "factory", "equipment", ",", "one", "indication", "of", "the", "strength", "of", "manufacturers", "'", "investment", "spending", ",", "fell", "0.3", "%", ".", "Some", "economists", "expect", "further", "declines", "in", "investment", "spending", ".", "``", "Whenever", "corporate", "profits", "are", "weak", "that", "means", "capital", "spending", "is", "going", "to", "soften", "subsequently", ",", "''", "Mr.", "Harris", "said", ".", "``", "You", "have", "n't", "seen", "the", "full", "effect", "of", "that", "yet", ".", "''", "A", "decline", "in", "truck", "production", "more", "than", "offset", "a", "sharp", "rise", "in", "auto", "assemblies", ",", "the", "Fed", "noted", ".", "Analysts", "do", "n't", "expect", "the", "September", "surge", "in", "auto", "production", "to", "be", "repeated", "in", "the", "coming", "months", ".", "Here", "is", "a", "summary", "of", "the", "Federal", "Reserve", "Board", "'s", "report", "on", "industrial", "production", "in", "September", ".", "The", "figures", "are", "seasonally", "adjusted", ".", "142.3", "%", "of", "the", "1977", "average", "." ]
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"disposed", "to", "vote", "for", "the", "cut", ",", "popular", "among", "their", "constituents", ".", "As", "a", "result", ",", "he", "took", "the", "lead", "in", "arguing", "that", "the", "cut", "should", "be", "blocked", "on", "procedural", "grounds", ".", "He", "helped", "persuade", "10", "of", "these", "senators", "to", "support", "him", "and", "Majority", "Leader", "George", "Mitchell", "on", "these", "grounds", ".", "The", "budget", "reconciliation", "had", "to", "be", "dealt", "with", "by", "the", "Oct.", "15", "deadline", ",", "and", "these", "Senate", "Democrats", "refused", "to", "agree", "to", "allow", "a", "vote", "to", "append", "capital", "gains", "to", "the", "budget", "bill", ",", "knowing", "it", "would", "pass", ".", "Denied", "a", "vote", "on", "substance", ",", "the", "GOP", "leadership", "in", "the", "Senate", "on", "Friday", "morning", "was", "confronted", "with", "a", "hard", "choice", ".", "It", "could", "throw", "in", "the", "towel", "and", "hope", "to", "win", "on", "capital", "gains", "late", "this", "month", ",", "or", "it", "could", "follow", "the", "White", "House", "strategy", ",", "to", "veto", "reconciliation", "unless", "capital", "gains", "was", "appended", ".", "The", "U.S.", "Chamber", "of", "Commerce", "has", "been", "in", "the", "forefront", "in", "supporting", "the", "Bush", "proposal", ".", "It", "endorsed", "the", "White", "House", "strategy", ",", "believing", "it", "to", "be", "the", "surest", "way", "to", "victory", ".", "At", "noon", "Friday", ",", "a", "senior", "White", "House", "official", "advised", "Richard", "Rahn", ",", "the", "Chamber", "'s", "chief", "economist", ",", "that", "the", "White", "House", "would", "not", "agree", "to", "a", "budget", "reconciliation", "bill", "unless", "it", "had", "firm", "assurances", "that", "a", "vote", "on", "substance", "would", "be", "permitted", "in", "the", "Senate", ".", "Two", "hours", "later", ",", "the", "first", "word", "emerged", "on", "Capitol", "Hill", "that", "the", "administration", "had", "agreed", "to", "reconciliation", "with", "no", "such", "assurances", "from", "Senate", "Democrats", ".", "Mr.", "Rahn", "was", "shocked", ",", "telephoning", "the", "office", "of", "Richard", "Darman", ",", "director", "of", "the", "Office", "of", "Management", "and", "Budget", ",", "and", "the", "administration", "'s", "chief", "strategist", "on", "this", "issue", ".", "He", "left", "a", "message", "accusing", "Mr.", "Darman", "of", "selling", "out", ".", "It", "was", "the", "Senate", "Republicans", ",", "though", ",", "who", "had", "edged", "away", "from", "the", "veto", "strategy", ".", "The", "stock", "market", "reacted", "as", "Mr.", "Rahn", "did", ",", "crumbling", "as", "it", "absorbed", "the", "news", "that", "Mr.", "Darman", "'s", "strategy", "had", "been", "abandoned", ".", "The", "stock", "market", ",", "after", "all", ",", "represents", "the", "collective", "expectations", "about", "the", "value", "of", "the", "future", "income", "stream", "of", "the", "nation", "'s", "capital", "stock", ",", "discounted", "to", "present", "value", ".", "Why", "should", "it", "be", "so", "surprising", "that", "a", "30", "%", "cut", "in", "the", "capital-gains", "tax", "would", "have", "such", "an", "enormous", "impact", "on", "the", "value", "of", "the", "nation", "'s", "capital", "stock", "?", "The", "total", "value", "of", "privately", "held", "assets", "is", "easily", "more", "than", "$", "15", "trillion", ".", "The", "value", "traded", "on", "the", "exchanges", "is", "close", "to", "$", "3", "trillion", ".", "If", "the", "tax", "on", "any", "gain", "to", "those", "assets", "was", "doubled", ",", "would", "n't", "the", "value", "fall", "to", "the", "owners", "of", "the", "assets", "?", "Is", "n't", "it", "reasonable", "to", "assume", "that", "the", "asset", "you", "own", "would", "be", "worth", "more", "if", "the", "government", "suddenly", "announced", "that", "if", "you", "sold", "it", ",", "you", "would", "be", "able", "to", "keep", "30", "%", "more", "of", "its", "gain", "than", "you", "previously", "believed", "?", "Indeed", ",", "the", "stock", "market", "'s", "steady", "advance", "this", "year", "tracked", "with", "President", "Bush", "'s", "success", "in", "advancing", "his", "capital-gains", "proposal", ".", "A", "30", "%", "cut", "in", "this", "year", "'s", "capital", "gains", "alone", "amounts", "to", "roughly", "$", "50", "billion", ".", "We", "'re", "talking", "real", "money", ".", "When", "Richard", "Rahn", "advised", "the", "financial", "press", "that", "the", "market", "crash", "was", "caused", "by", "the", "setback", "to", "capital", "gains", ",", "he", "was", "generally", "ignored", "and", "mildly", "ridiculed", ".", "Instead", ",", "the", "press", "corps", "readily", "accepted", "the", "notion", "that", "a", "snag", "in", "the", "takeover", "financing", "of", "United", "Airlines", "instantly", "knocked", "7", "%", "off", "the", "value", "of", "the", "nation", "'s", "capital", "stock", "and", "caused", "convulsions", "around", "the", "world", ".", "Mr.", "Rahn", "was", "pointing", "out", "an", "elephant", "rumbling", "through", "Wall", "Street", "while", "conventional", "wisdom", "had", "fastened", "on", "the", "UAL", "flea", ".", "Why", "is", "this", "happening", "?", "For", "one", "thing", ",", "quite", "a", "number", "of", "the", "leading", "spokesmen", "on", "Wall", "Street", "are", "not", "portfolio", "managers", ",", "who", "understand", "that", "the", "value", "of", "assets", "is", "greatly", "affected", "by", "how", "government", "taxes", "those", "assets", ".", "They", "are", "economists", "and", "financial", "reporters", "who", "sympathize", "with", "the", "view", "that", "a", "capital-gains", "tax", "cut", "benefits", "the", "rich", ".", "Yet", "they", "somehow", "think", "that", "Wall", "Street", "is", "indifferent", "to", "losing", "the", "tax", "cut", "that", "seemed", "so", "close", "Friday", "morning", "and", "is", "now", "problematic", ".", "The", "market", 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[ "compound", "compound", "nsubj", "punct", "appos", "punct", "appos", "punct", "root", "nsubj", "ccomp", "mark", "xcomp", "nmod:poss", "compound", "amod", "obj", "case", "det", "amod", "compound", "nmod", "case", "det", "obl", "nsubj:pass", "aux:pass", "advmod", "acl:relcl", "punct", "det", "compound", "compound", "nsubj", "root", "det", "nsubj", "aux", "ccomp", "case", "det", "amod", "obl", "case", "advmod", "nmod", "compound", "nummod", "punct", "cc", "conj", "nummod", "det", "obl:npmod", "punct", "case", "det", "amod", "obl", "acl", "det", "nsubj", "advmod", "root", "nsubj", "aux", "ccomp", "amod", "compound", "obj", "case", "det", "amod", "obl", "punct", "det", "nsubj", "aux", "root", "case", "det", "obl", "case", "advmod", "nmod", "compound", "nummod", "punct", "cc", "nummod", "conj", "det", "obl:npmod", "punct", "case", "fixed", "det", "obl", "case", "amod", "compound", "nmod", "punct", "case", "det", "amod", "obl", "case", "nmod", "punct", "det", "nsubj", "root", "obj", "compound", "nummod", "punct", "cc", "nummod", "conj", "det", "obl:npmod", "punct" ]
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[ "compound", "compound", "nsubj", "punct", "compound", "appos", "punct", "root", "nmod:poss", "amod", "amod", "nsubj", "ccomp", "nummod", "obj", "punct", "xcomp", "amod", "obj", "case", "compound", "nmod", "cc", "det", "conj", "case", "nmod", "case", "nmod:poss", "amod", "compound", "nmod", "punct", "det", "nmod:poss", "case", "dep", "punct", "amod", "nmod:poss", "case", "conj", "cc", "amod", "conj", "punct", "det", "amod", "compound", "nsubj", "cc", "conj", "root", "mark", "nmod:poss", "amod", "nsubj", "case", "det", "amod", "nmod", "ccomp", "case", "obl", "compound", "nummod", "punct", "cc", "nummod", "conj", "det", "obl:npmod", "punct", "case", "obl", "compound", "nummod", "punct", "cc", "nummod", "conj", "det", "obl:npmod", "punct", "det", "obl:npmod", "advmod", "punct", "nsubj", "case", "det", "nmod", "root", "nummod", "obj", "case", "obl", "compound", "nummod", "case", "obl", "compound", "nummod", "det", "obl:npmod", "advmod", "punct", "compound", "nsubj", "root", "obl:tmod", "case", "obl", "nummod", "punct", "advmod", "nummod", "obl:npmod", "punct", "case", "amod", "amod", "obl", "punct", "nmod:poss", "case", "nsubj", "advmod", "root", "nmod:poss", "amod", "compound", "compound", "obj", "case", "nummod", "nmod", "det", "obl:npmod", "amod", "case", "obl", "nummod", "case", "obl", "case", "obl", "case", "det", "acl:relcl", "case", "nmod", "case", "nmod", "nummod", "punct", "case", "det", "nummod", "obl", "punct", "amod", "nsubj", "root", "nummod", "obj", "case", "obl", "compound", "nummod", "punct", "cc", "conj", "nummod", "det", "obl:npmod", "punct", "case", "obl", "compound", "nummod", "punct", "cc", "nummod", "conj", "det", "obl:npmod", "det", "obl:npmod", "advmod", "punct", "nsubj", "root", "nummod", "obj", "case", "obl", "compound", "nummod", "case", "obl", "compound", "nummod", "punct" ]
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[ "det", "nsubj", "case", "compound", "nmod", "aux", "root", "mark", "xcomp", "compound", "nmod:poss", "case", "amod", "compound", "compound", "obj", "case", "obl", "compound", "nummod", "cc", "aux", "conj", "dep", "advmod", "det", "nsubj:pass", "aux", "aux:pass", "xcomp", "punct", "det", "nsubj", "root", "advmod", "advmod", "case", "obl", "case", "det", "compound", "compound", "nmod", "mark", "mark", "det", "compound", "nsubj:pass", "aux", "aux:pass", "acl", "mark", "xcomp", "case", "det", "amod", "compound", "obl", "case", "compound", "nmod:poss", "case", "compound", "nmod", "punct", "det", "nsubj", "acl", "case", "compound", "punct", "dep", "punct", "compound", "compound", "compound", "obl", "aux", "advmod", "root", "det", "compound", "obj", "acl", "det", "obj", "cc", "conj", "advmod", "advmod", "nmod:poss", "nsubj", "aux", "ccomp", "case", "det", "obl", "punct", "advmod", "punct", "det", "nsubj", "acl", "case", "det", "obl", "root", "nsubj", "aux", "advmod", "ccomp", "det", "obj", "case", "det", "obl", "cc", "cop", "advmod", "conj", "case", "obl", "mark", "nsubj", "advcl", "case", "obl", "case", "amod", "compound", "obl", "case", "det", "obl", "punct", "nsubj", "aux", "advmod", "root", "case", "det", "obl", "punct", "det", "nsubj", "aux", "root", "det", "nsubj", "cop", "advmod", "case", "ccomp", "punct", "cc", "aux", "conj", "compound", "nmod:poss", "case", "amod", "obj", "case", "nmod", "case", "compound", "compound", "amod", "nmod", "punct", "case", "nmod:poss", "obl", "case", "compound", "nmod", "compound", "compound", "dep", "punct", "compound", "nsubj", "root", "nsubj", "ccomp", "case", "det", "amod", "compound", "nummod", "obl", "xcomp", "nmod:poss", "case", "amod", "amod", "obj", "cc", "conj", "case", "compound", "nmod", "mark", "det", "compound", "nsubj", "dep", "det", "amod", "compound", "nummod", "obj", "case", "nmod", "punct", "cc", "case", "det", "obl", "punct", "compound", "nsubj", "root", "nsubj", "cc", "nmod:poss", "compound", "conj", "aux", "ccomp", "obj", "case", "amod", "amod", "nmod", "mark", "advcl", "compound:prt", "det", "obj", "punct" ]