believe
frames- One analyst , who *T*-1 asked not *-2 to be identified *-3 , said 0 [ARG0 he] [rel believes] that the UAL pilots and management can put together a bid `` in the $ 225 *U* area , '' but that [ARG1 it could take three to four months * to close] .
- `` [ARG0 You] [ARGM-ADV either] [rel believe] 0 [ARG1-PRD Seymour can do it again] or you do n't *?* . ''
- The new company said 0 [ARG0 it] [rel believes] 0 [ARG1-PRD there are fewer than 100 potential customers for supercomputers priced * between $ 15 million and $ 30 million *U* -- presumably the Cray-3 price range] .
- Mr. Leming was n't surprised *-1 by the lower price cited * by NL , *-1 saying 0 [ARG0 he] [rel believes] that [ARG1-PRD $ 55 *U* a share is `` the most 0 you can pay *T*-2 for Georgia Gulf before it becomes a bad acquisition] . ''
- [ARGM-ADV Although Georgia Gulf has n't been eager *-1 to negotiate with Mr. Simmons and NL , a specialty chemicals concern ,] [ARG0 the group] [ARGM-ADV apparently] [rel believes] 0 [ARG1-PRD the company 's management is interested *-114 in some kind of transaction] .
- And [ARG0 they] [rel believe] 0 [ARG1-PRD the Big Board , under Mr. Phelan , has abandoned their interest] .
- Prudential-Bache Securities boosted the stock 's short-term investment rating in response to the departure ; analyst John McMillin said 0 [ARG0 he] [rel believes] 0 [ARG1-PRD the company will turn to new management `` that *T*-1 's more financially oriented] . ''
- Mr. Icahn has said 0 [ARG0 he] [rel believes] 0 [ARG1-PRD USX would be worth more if *-1 broken up *-2 into steel and energy segments] .
- `` [ARG0 I] [ARGM-MOD ca] [ARGM-NEG n't] [rel believe] 0 [ARG1-PRD they -LRB- GM -RRB- will let Ford have a free run] , '' said *T*-1 Stephen Reitman , a European auto industry analyst at UBS-Phillips & Drew .
- [ARG0 Many investors] [ARGM-ADV certainly] [rel believe] 0 [ARG1-PRD a bidding war is imminent] .
- Jaguar was shocked *-44 by Mr. Ridley 's decision , because [ARG0 management] had [rel believed] 0 [ARG1 the government would n't lift the golden share without *-1 consulting the company first] .
- In a statement , Southern Co. President Edward L. Addison said , `` [ARG0 We] [rel believe] 0 [ARG1-PRD our decision * to plead -LRB- guilty -RRB- to these charges is responsible and proper] .
- But [ARG0 industry executives] [ARGM-DIS also] [rel believe] 0 [ARG1-PRD * hiring Mr. Achenbaum is a shrewd move for Backer Spielvogel , a unit of Saatchi & Saatchi] .
- But [ARG0 many analysts] [rel believe] that , [ARG1-PRD given the attractiveness of paper companies ' cash flows , as well as the frantic consolidation of the paper industry in Europe , there will be at least a few more big hostile bids for U.S. companies within the next several months] .
- `` The implied current net asset value of 22.70 -LCB- per share -RCB- is well below [ARG1 the 30 level] that [ARG0 the Street] [rel believed] *T*-83 , '' PaineWebber says *T*-1 .
- Salomon Brothers says , `` [ARG0 We] [rel believe] 0 [ARG1-PRD the real estate properties would trade at a discount ... after the realty unit is spun off] ... .
- `` [ARG0 They -LCB- LTV -RCB-] [ARGM-MOD may] [rel believe] 0 [ARG1-PRD this can impact contract negotiations and is their signal *ICH*-3 to the world that now is the time 0 * to get tough on prices *T*-2] , '' said *T*-1 Peter Marcus , an analyst with PaineWebber Inc .
- [ARG0 Mr. Marcus] [rel believes] 0 [ARG1-PRD spot steel prices will continue *-1 to fall through early 1990 and then reverse themselves] .
- So there is reason 0 [ARG0 *] to [rel believe] that [ARG1-PRD Michael 's hopes for a bacteria-free , long-shelf-life egg were n't all hype] *T*-1 .
- [ARG0 Mr. Carver] , [ARGM-DIS however] , [rel believes] 0 [ARG1-PRD the company 's egg product wo n't help the bottom line in the short run , even though it `` makes sense -- it 's more convenient '' and justifies its price , which *T*-1 is higher than shell eggs , because of health and sanitation concerns] .
- [ARGM-DIS Still] , [ARG0 analysts] [rel believe] that [ARG1-PRD profit margins in the potato business will be down again this year] .
- [ARG0 The investment community] , [ARGM-DIS however] , [ARGM-MNR strongly] [rel believes] that [ARG1-PRD the strike will be settled *-1 before there is any lasting effect on either Boeing or its work force] .
- [ARGM-LOC In *-3 deferring action on the merger] , the Fed said 0 *T*-1 , `` [ARG0 The Board] does [ARGM-NEG not] [rel believe] that [ARG1-PRD there is sufficient information in the record at this time * to allow -LCB- it -RCB- to reach a final conclusion on First Union 's record of * helping *-4 to meet the credit needs of the communities 0 it serves *T*-2 in Florida and North Carolina , including low to moderate-income neighborhoods in those communities] . ''
- The bank added that [ARG0 it] [rel believes] 0 [ARG1-PRD the review will `` demonstrate that First Union is in compliance with the requirements of the Community Reinvestment Act] . ''
- Dow Jones has said 0 [ARG0 it] [rel believes] 0 [ARG1-PRD the $ 18-a-share price is fair to Telerate 's minority shareholders] .
- [ARG1 Kellogg 's current share] is [rel believed] [ARG2-PRD *-1 to be slightly under 40 %] [ARGM-ADV while General Mills ' share is about 27 %] .
- [ARG0 Individuals close to the situation] [rel believe] 0 [ARG1-PRD Ford officials will seek a meeting *ICH*-1 *ICH*-2 this week with Sir John 0 * to outline their proposal for a full bid *T*-3] .
- Both companies declined *-1 to comment on the rumors , but several industry analysts told the Professional Investor Report 0 [ARG0 they] [rel believed] 0 [ARG1-PRD it *EXP*-2 was plausible that Pennzoil may be buying Chevron shares as a prelude to * pushing for a restructuring of the company] .
- Prosecutors have told Mr. Antar 's attorneys that [ARG0 they] [rel believe] 0 [ARG1-PRD Mr. Antar 's allegedly ill-gotten gains are so great that any money 0 he has used *T*-1 *-2 to pay attorneys derives from illegal activities] .
- [ARG0 I] do [ARGM-NEG n't] [rel believe] 0 [ARG1-PRD they have the culture '' 0 * to adequately service high-net-worth individuals *T*-2] , he adds 0 *T*-1 .
- Separately , two more of the nation 's top steelmakers -- Armco Inc. and National Intergroup Inc. -- reported lower operating earnings in their steel businesses , * marking [ARG1 what] *T*-1 is [ARGM generally] [rel believed] [ARG2-PRD *-2 to be the end of a two-year boom in the industry] .
- [ARG0 Some people familiar with the situation] [rel believe] that [ARG1-PRD the collapse of the previous $ 6.79 billion *U* buy-out , if anything , may have strengthened the hands of these two labor groups] .
- Ms. Browning says 0 [ARG0 she] [rel believes] 0 [ARG1-PRD a recapitalization involving employee ownership would succeed only if the pilots relent on their demand for control] .
- The product is n't widely used *-2 yet , but [ARG0 Toshiba , which *T*-1 has already beaten everyone else in * producing the current-generation one-megabit DRAMs ,] [rel believes] that [ARG1-PRD its early investment will heighten its chances of * beating its competitors again] .
- Although [ARG0 the board] [rel believed] that [ARG1-PRD Mr. Icahn is more interested in *-2 talking the stock price higher than *-2 acquiring USX] , it adopted a poison-pill defense , 0 *T*-3 to be swallowed *-1 if anyone amasses a 15 % stake .
- [ARG0 Mr. Icahn] has [ARGM-TMP long] [rel believed] , associates say 0 *T*-2 , that [ARG1-PRD the company , whose 1988 sales *T*-1 totaled $ 16.88 billion *U* , is worth $ 70 *U* a share if *-3 broken up] .
- `` [ARG0 I] [rel believe] 0 [ARG1-PRD everyday pricing in the current environment does n't work] , '' says *T*-2 Walter Loeb of Morgan Stanley & Co. , *-1 pointing to soft durable-goods sales .
- He said that [ARGM-TMP when sell programs kick in *T*-1] , [ARG0 many traders] [rel believe] that `` [ARG1-PRD there 's no sense in * sticking your nose out because you 're an instant loser] . ''
- The FTC said 0 [ARG0 it] `` had reason * to [rel believe] that [ARG1-PRD the proposed acquisition could substantially reduce competition '' in the production of certain image intensifier tubes , which *T*-1 are important components of night-vision devices sold * primarily to the defense industry] .
- Rubbermaid officials said 0 [ARG0 they] are [ARGM-NEG n't] aware of any effort * to take over the company , but [rel believed] 0 [ARG1-PRD the shareholder plan needed *-2 to be strengthened *-1] .
- Sir John Egan , Jaguar 's chairman , so far has refused *-1 to meet with Ford officials , but [ARG1 he] is [rel believed] [ARG2-PRD *-2 to be willing *-3 to consider a specific bid proposal] .
- [ARG1-PRD A pitched battle could mean 0 Jaguar would fetch # 10 *U* -LRB- $ 16.02 *U* -RRB- a share , or about # 1.8 billion *U* -LRB- $ 2.88 billion *U* -RRB- ,] [ARG0 several analysts] [rel believe] 0 *T*-1 .
- [ARGM-ADV *-1 Calling sales `` still relatively soft] , '' [ARG0 Ms. Steppel] [rel believes] that [ARG1-PRD in real terms , U.S. sales slipped 3 1\/2 % to 4 % at company-operated stores in the quarter] .
- [ARG1-PRD For now , the union issue is the most nettlesome of Federal 's Tiger problems] , [ARG0 management] [rel believes] 0 *T*-1 .
- But though [ARG1 most of the 1,087 Federal pilots] are [rel believed] [ARG2-PRD *-1 opposed] , it *EXP*-3 is unclear just how much their loyalty to Mr. Smith has been eroded *-2 *T*-4 .
- He said 0 [ARG0 the company] [rel believed] 0 [ARG1-PRD Qintex Entertainment 's financial problems could have been resolved *-1 by other means] .
- [ARG1-PRD Eventually] , [ARG0 he] [rel believes] 0 *T*-1 , investors will be willing *-2 to pay higher prices for companies with proven track records of earnings growth .
- [ARG0 Barney Hallingby , managing director of research at Hambrecht & Quist ,] [ARGM-DIS also] [rel believes] 0 [ARG1-DIS earnings growth is beginning *-1 to play a greater part in investors ' buying decisions] .
- It also had $ 479.7 million *U* of past-due loans ; its level of reserves against those was n't immediately available , though [ARG1 it] is [rel believed] [ARG2-PRD *-1 to be small] .
- Since its unsuccessful bid for BankAmerica Corp. in 1986 , the bank has undertaken a major restructuring in an effort * to cut costs and boost performance , but [ARG0 many industry officials] [rel believe] 0 [ARG1-PRD it may be ripe for a takeover bid , especially with interstate banking set *-1 to begin in California in 1991] .
- One analyst , who *T*-1 asked not *-2 to be identified *-3 , said 0 [ARG0 he] [rel believes] that [ARG1-PRD the UAL pilots and management can put together a bid `` in the $ 225 *U* area , ''] but that [ARG1-PRD it could take three to four months * to close] .
- [ARGM-ADV At that level , and given the uncertainty] , [ARG0 he] [rel believes] 0 [ARG1-PRD UAL stock should trade closer to]
- [ARGM-ADV Although the bidding group has n't had time 0 * to develop its latest idea fully or to discuss it with banks *T*-2] , [ARG0 it] [rel believes] 0 [ARG1-PRD bank financing could be obtained *-1] .
- Mr. Schulman said 0 [ARG0 he] [rel believes] that [ARG1-PRD the roll-out of DEC 's new mainframe will `` occur somewhat more leisurely '' than many of his investment colleagues expect 0 *?*] .
- There are no plans * to initiate a common stock dividend , Mr. Johnson said 0 *T*-3 , *-2 explaining that [ARG0 the board] continues *-4 to [rel believe] 0 [ARG1-PRD shareholders are best served *-1 by * reinvesting excess cash] .
- James B. Lee , head of syndications and private placements at Chemical Banking Corp. , said 0 [ARG0 he] [rel believes] 0 [ARG1-PRD banks can still make a credible offer of one-stop shopping for takeover finance] .
- But [ARG0 some observers] [rel believe] 0 [ARG1-PRD Paramount Chairman Martin Davis wanted *-2 to avoid the possible taint of * being perceived *-1 as a corporate raider in his controversial bid for Time] .
- I think 0 [ARG0 some people] [ARGM-MOD may] [rel believe] 0 [ARG1-PRD they 're helping *-1 fund a massive TV and print campaign] , but we could n't find that the charity does anything except write these letters , '' he says *T*-2 .
- Company officials said later that [ARG0 British Airways] [rel believes] 0 [ARG1-PRD its involvement in the UAL buy-out ended last Friday when the buy-out group , which *T*-1 also includes UAL 's management and pilot union , failed *-3 to obtain financing for the $ 6.79 billion *U* transaction *T*-2] .
- Gasoline margins may rebound this quarter , some industry officials say 0 *T*-1 , but [ARG0 they] [rel believe] 0 [ARG1-PRD chemical margins could worsen] .
- FileNet said 0 [ARG0 it] does [ARGM-NEG n't] [rel believe] 0 [ARG1-PRD the state has a valid basis of default] and is reviewing its legal rights under the contract , but said 0 it ca n't predict the outcome of the dispute .
- [ARG0 Analyst James Weil of the Soundview Financial Group] [rel believes] 0 [ARG1-PRD Dell 's response has been *-1 to place increased emphasis on product quality , `` in an effort * to rise above some of that price pressure] . ''
- He said 0 [ARG0 he] [rel believes] 0 [ARG1-PRD UAL management was badly advised *-1 on the funding of its original transaction] .
- [ARG1 Roughly one-third of its stock] is [rel believed] [ARG2-PRD *-2 held *-3 by takeover stock traders , who *T*-1 could vote *-4 to oust the board if they become impatient] .
- [ARG1-PRD The new B.A.T will be a smaller tobacco and financial-services hybrid whose price-earnings ratio *T*-1 may more closely *ICH*-3 reflect the lower-growth tobacco business than the higher-multiple financial-services business] , [ARG0 these holders] [rel believe] 0 *T*-2 .
- The appeals court also said , 0 `` We think 0 [ARG0 an ordinary businessman reading this policy] [ARGM-MOD would] have [rel believed] [ARG1 himself] [ARG2-PRD covered for the demands and potential damage claims '' stemming from any cleanup] .
- Richard M. Greenwood , Valley National 's executive vice president , said then that [ARG0 the company] [rel believed] 0 [ARG1-PRD the write-downs were `` adequate ''] and did n't plan *-1 to increase its reserves again .
- Pinnacle West slashed its quarterly dividend to 40 cents per share from 70 cents in December , *-1 saying at the time that [ARG0 it] [rel believed] 0 [ARG1-PRD the new , lower dividend was `` sustainable] . ''
- [ARG0 He] [rel believes] that [ARG1-PRD the volatile conditions created * by program trading has `` thoroughly confused '' investors about where the market is headed *-1 *T*-2] .
- `` If [ARG0 you] [rel believe] that [ARG1-PRD a good performance next year is contingent on an acceleration of revenue] , there is n't a lot here 0 * to base optimism on *T*-1 . ''
- [ARG1 Trading in futures and options] , [ARG0 some people] [rel believe] 0 *T*-1 , can add to volatility .
- [ARG0 Investors] [rel believe] 0 [ARG1-PRD they can can rely on such derivative securities *-3 to get in *RNR*-1 and out of *RNR*-1 the stock market without *-4 actually selling any stocks] ; that is , a way of * staying liquid even when they own stocks *T*-2 .
- `` [ARG0 I] [ARGM-ADV just] [ARGM-MOD ca] [ARGM-NEG n't] [rel believe] that [ARG1-PRD the innovations in the financial market are causing any of this volatility] , '' he says *T*-1 .
- [ARG0 They] [rel believe] 0 [ARG1-PRD microeconomics , which *T*-1 addresses the problems of markets , investment climate and management practices , is the key to developing-country growth , not the IMF 's Keynesian focus on trade deficits , quarterly targets and government debt] .
- Because [ARG0 commercial banks and the developing-country governments] [rel believe] 0 [ARG1-PRD they will get a piece of any capital increase] , a scaled-down IMF mission would leave both feeling shortchanged .
- [ARG0 Analysts] [rel believe] 0 [ARG1-PRD the car makers also will create joint ventures 0 * to develop new executive models *T*-1 , * doubling Jaguar 's yearly output of 50,000 cars] .
- [ARG0 He] [rel believes] 0 [ARG1-PRD Jaguar 's share price could zoom to between # 8 and # 10 *U* -LRB- $ 12.60 to $ 15.80 *U* -RRB-] .
- In his statement , Mr. Wolf said , `` [ARG0 We] continue *-1 to [rel believe] 0 [ARG1-PRD our approach is sound] , and that [ARG1-PRD it is far better for all employees than the alternative of * having an outsider own the company with employees paying for it just the same] . ''
- [ARGM-TMP At the time] , its shares were selling above their initial offering price of $ 19 *U* , and [ARG0 bankers] [rel believed] 0 [ARG1-PRD Staples would sell new stock without a hitch] .
- `` [ARG0 I] [rel believe] that [ARG1-PRD the perception that legislation in this area may be hastily approved *-1 contributed to the collapse of the UAL transaction , and the resulting disruption in the financial markets experienced * this past Friday] , '' Mr. Trump wrote members of Congress *T*-2 .
- However , other knowledgeable observers said 0 [ARG0 they] [rel believed] 0 [ARG1-PRD Mr. Crandall and the AMR board might well decide *-1 to tough it out without * taking any extra steps] .
- Some analysts said 0 [ARG0 they] [rel believed] 0 [ARG1-PRD Mr. Trump , whose towering ego *T*-2 had been viewed *-1 by some as a reason * to believe 0 he would n't back out , might come back with a lower bid] .
- Some analysts said 0 they believed 0 Mr. Trump , [ARG0 whose towering ego] *T*-2 had been viewed *-1 by some as a reason * to [rel believe] 0 [ARG1 he would n't back out] , might come back with a lower bid .
- In a letter filed * with the Securities and Exchange Commission , the group , which *T*-1 holds about 4.5 million Telerate shares , or about 4.7 % of the shares outstanding , said `` ... [ARGM-TMP at present] [ARG0 none of us] [rel believes] 0 [ARG1-PRD an offer for less than $ 25 *U* per share would be fair] and some believe that $ 25 *U* is too low . ''
- In a letter filed * with the Securities and Exchange Commission , the group , which *T*-1 holds about 4.5 million Telerate shares , or about 4.7 % of the shares outstanding , said `` ... [ARGM-TMP at present] none of us believes 0 an offer for less than $ 25 *U* per share would be fair and [ARG0 some] [rel believe] that [ARG1-PRD $ 25 *U* is too low] . ''
- U.S. Banknote said 0 [ARG0 it] [rel believes] 0 [ARG1-PRD the sale , if *-2 completed *-1 , apparently would satisfy antitrust issues raised * by the U.S. Justice Department about U.S. Banknote 's offer * to buy International Banknote] .
- A company spokesman said 0 [ARG0 he] [rel believed] 0 [ARG1-PRD the confusion was caused *-1 when James Batten , Knight-Ridder 's chairman and chief executive , told New York analysts two weeks ago that Knight-Ridder 's earnings per share for the first nine months of 1989 would `` be behind a little bit '' from like period of *T*-2]
- [ARGM-TMP Until recently] , [ARG0 industry analysts] [rel believed] 0 [ARG1-PRD decreases in retail ad spending had bottomed out and would in fact increase in this year 's third and fourth quarters] .
- [ARG0 Some analysts , such as Murray Grossner of Toronto-based Richardson Greenshields Inc. ,] [rel believe] 0 [ARG1-PRD the government ruling leaves the door open for other bidders , such as Switzerland 's Ciba-Geigy and Chiron Corp. of Emeryville , Calif] .
- [ARG1 Earnings for most of the nation 's major pharmaceutical makers] are [rel believed] [ARG2-PRD *-1 to have moved ahead briskly in the third quarter , as companies with newer , big-selling prescription drugs fared especially well] .
- Mr. King of Robinson-Humphrey and others were quick *-1 to add that [ARG0 they] [rel believe] 0 [ARG1-PRD the problem stemmed more from traders ' inability * to handle the volume of calls , rather than a deliberate attempt * to avoid *-2 making trades] .
- '' [ARG0 Mr. Perkins] [rel believes] , [ARGM-DIS however] , that [ARG1-PRD the market could be stabilized *-1 if California investor Marvin Davis steps back in to the United bidding with an offer of $ 275 *U* a share] .
- Others undoubtedly will follow , but [ARG0 most analysts] [rel believe] 0 [ARG1-PRD Compaq has at least a six-month lead on the competition] .
- `` [ARG0 We] [rel believe] 0 [ARG1-PRD they could siphon perhaps two to three billion dollars from IBM '' over the next few years] , said 0 *T*-1 George Weiss , an analyst at the Gartner group .
- `` [ARG0 You] [ARGM either] [rel believe] 0 [ARG1 Seymour can do it again] or you do n't *?* . ''
- `` [ARG0 You] [ARGM either] [rel believe] 0 [ARG1 Seymour can do it again] or you do n't *?* . ''
- The new company said 0 [ARG0 it] [rel believes] 0 [ARG1 there are fewer than 100 potential customers for supercomputers priced * between $ 15 million and $ 30 million *U* -- presumably the Cray-3 price range] .
- The new company said 0 [ARG0 it] [rel believes] 0 [ARG1 there are fewer than 100 potential customers for supercomputers priced * between $ 15 million and $ 30 million *U* -- presumably the Cray-3 price range] .
- Mr. Leming was n't surprised *-1 by the lower price cited * by NL , *-1 saying 0 [ARG0 he] [rel believes] that [ARG1 $ 55 *U* a share is `` the most 0 you can pay *T*-2 for Georgia Gulf before it becomes a bad acquisition] . ''
- [ARGM-ADV Although Georgia Gulf has n't been eager *-1 to negotiate with Mr. Simmons and NL , a specialty chemicals concern ,] [ARG0 the group] [ARGM-DIS apparently] [rel believes] 0 [ARG1 the company 's management is interested *-114 in some kind of transaction] .
- [ARGM-DIS And] [ARG0 they] [rel believe] 0 [ARG1 the Big Board , under Mr. Phelan , has abandoned their interest] .
- Prudential-Bache Securities boosted the stock 's short-term investment rating in response to the departure ; analyst John McMillin said 0 [ARG0 he] [rel believes] 0 [ARG1 the company will turn to new management `` that *T*-1 's more financially oriented] . ''
- Mr. Icahn has said 0 [ARG0 he] [rel believes] 0 [ARG1 USX would be worth more if *-1 broken up *-2 into steel and energy segments] .
- `` [ARG0 I] [ARGM-MOD ca] [ARGM-NEG n't] [rel believe] 0 [ARG1 they -LRB- GM -RRB- will let Ford have a free run] , '' said *T*-1 Stephen Reitman , a European auto industry analyst at UBS-Phillips & Drew .
- [ARG0 Many investors] [ARGM-DIS certainly] [rel believe] 0 [ARG1 a bidding war is imminent] .
- Jaguar was shocked *-44 by Mr. Ridley 's decision , because [ARG0 management] had [rel believed] 0 [ARG1 the government would n't lift the golden share without *-1 consulting the company first] .
- In a statement , Southern Co. President Edward L. Addison said , `` [ARG0 We] [rel believe] 0 [ARG1 our decision * to plead -LRB- guilty -RRB- to these charges is responsible and proper] .
- But [ARG0 industry executives] [ARGM also] [rel believe] 0 [ARG1 * hiring Mr. Achenbaum is a shrewd move for Backer Spielvogel , a unit of Saatchi & Saatchi] .
- [ARGM-DIS But] [ARG0 many analysts] [rel believe] that , [ARG1 given the attractiveness of paper companies ' cash flows , as well as the frantic consolidation of the paper industry in Europe , there will be at least a few more big hostile bids for U.S. companies within the next several months] .
- `` The implied current net asset value of 22.70 -LCB- per share -RCB- is well below [ARG1 the 30 level] that [ARG0 the Street] [rel believed] *T*-83 , '' PaineWebber says *T*-1 .
- Salomon Brothers says , `` [ARG0 We] [rel believe] 0 [ARG1 the real estate properties would trade at a discount ... after the realty unit is spun off] ... .
- `` [ARG0 They -LCB- LTV -RCB-] [ARGM-MOD may] [rel believe] 0 [ARG1 this can impact contract negotiations and is their signal *ICH*-3 to the world that now is the time 0 * to get tough on prices *T*-2] , '' said *T*-1 Peter Marcus , an analyst with PaineWebber Inc .
- [ARG0 Mr. Marcus] [rel believes] 0 [ARG1 spot steel prices will continue *-1 to fall through early 1990 and then reverse themselves] .
- So there is reason 0 [ARG0 *] to [rel believe] that [ARG1 Michael 's hopes for a bacteria-free , long-shelf-life egg were n't all hype] *T*-1 .
- [ARG0 Mr. Carver] , [ARGM-DIS however] , [rel believes] 0 [ARG1 the company 's egg product wo n't help the bottom line in the short run , even though it `` makes sense -- it 's more convenient '' and justifies its price , which *T*-1 is higher than shell eggs , because of health and sanitation concerns] .
- [ARGM-DIS Still] , [ARG0 analysts] [rel believe] that [ARG1 profit margins in the potato business will be down again this year] .
- [ARG0 The investment community] , [ARGM-DIS however] , [ARGM-MNR strongly] [rel believes] that [ARG1 the strike will be settled *-1 before there is any lasting effect on either Boeing or its work force] .
- In *-3 deferring action on the merger , the Fed said 0 *T*-1 , `` [ARG0 The Board] does [ARGM-NEG not] [rel believe] that [ARG1 there is sufficient information in the record at this time * to allow -LCB- it -RCB- to reach a final conclusion on First Union 's record of * helping *-4 to meet the credit needs of the communities 0 it serves *T*-2 in Florida and North Carolina , including low to moderate-income neighborhoods in those communities] . ''
- The bank added that [ARG0 it] [rel believes] 0 [ARG1 the review will `` demonstrate that First Union is in compliance with the requirements of the Community Reinvestment Act] . ''
- Dow Jones has said 0 [ARG0 it] [rel believes] 0 [ARG1 the $ 18-a-share price is fair to Telerate 's minority shareholders] .
- [ARG1 Kellogg 's current share] is [rel believed] [ARG2-PRD *-1 to be slightly under 40 %] [ARGM while General Mills ' share is about 27 %] .
- [ARG0 Individuals close to the situation] [rel believe] 0 [ARG1 Ford officials will seek a meeting *ICH*-1 *ICH*-2 this week with Sir John 0 * to outline their proposal for a full bid *T*-3] .
- Both companies declined *-1 to comment on the rumors , but several industry analysts told the Professional Investor Report 0 [ARG0 they] [rel believed] 0 [ARG1 it *EXP*-2 was plausible that Pennzoil may be buying Chevron shares as a prelude to * pushing for a restructuring of the company] .
- Prosecutors have told Mr. Antar 's attorneys that [ARG0 they] [rel believe] 0 [ARG1 Mr. Antar 's allegedly ill-gotten gains are so great that any money 0 he has used *T*-1 *-2 to pay attorneys derives from illegal activities] .
- [ARG0 I] do [ARGM-NEG n't] [rel believe] 0 [ARG1 they have the culture '' 0 * to adequately service high-net-worth individuals *T*-2] , he adds 0 *T*-1 .
- Separately , two more of the nation 's top steelmakers -- Armco Inc. and National Intergroup Inc. -- reported lower operating earnings in their steel businesses , * marking [ARG1 what] *T*-1 is [ARGM-ADV generally] [rel believed] [ARG2-PRD *-2 to be the end of a two-year boom in the industry] .
- [ARG0 Some people familiar with the situation] [rel believe] that [ARG1 the collapse of the previous $ 6.79 billion *U* buy-out , if anything , may have strengthened the hands of these two labor groups] .
- Ms. Browning says 0 [ARG0 she] [rel believes] 0 [ARG1 a recapitalization involving employee ownership would succeed only if the pilots relent on their demand for control] .
- The product is n't widely used *-2 yet , but [ARG0 Toshiba , which *T*-1 has already beaten everyone else in * producing the current-generation one-megabit DRAMs ,] [rel believes] that [ARG1 its early investment will heighten its chances of * beating its competitors again] .
- Although [ARG0 the board] [rel believed] that [ARG1 Mr. Icahn is more interested in *-2 talking the stock price higher than *-2 acquiring USX] , it adopted a poison-pill defense , 0 *T*-3 to be swallowed *-1 if anyone amasses a 15 % stake .
- [ARG0 Mr. Icahn] has [ARGM-TMP long] [rel believed] [ARGM-DIS , associates say 0 *T*-2 ,] that [ARG1 the company , whose 1988 sales *T*-1 totaled $ 16.88 billion *U* , is worth $ 70 *U* a share if *-3 broken up] .
- `` [ARG0 I] [rel believe] 0 [ARG1 everyday pricing in the current environment does n't work] , '' says *T*-2 Walter Loeb of Morgan Stanley & Co. , *-1 pointing to soft durable-goods sales .
- He said that [ARGM-TMP when sell programs kick in *T*-1] , [ARG0 many traders] [rel believe] that `` [ARG1 there 's no sense in * sticking your nose out because you 're an instant loser] . ''
- The FTC said 0 [ARG0 it] `` had reason * to [rel believe] that [ARG1 the proposed acquisition could substantially reduce competition '' in the production of certain image intensifier tubes , which *T*-1 are important components of night-vision devices sold * primarily to the defense industry] .
- Rubbermaid officials said 0 [ARG0 they] are n't aware of any effort * to take over the company , [ARGM-DIS but] [rel believed] 0 [ARG1 the shareholder plan needed *-2 to be strengthened *-1] .
- Sir John Egan , Jaguar 's chairman , so far has refused *-1 to meet with Ford officials , [ARGM-DIS but] [ARG1 he] is [rel believed] [ARG2-PRD *-2 to be willing *-3 to consider a specific bid proposal] .
- [ARG1 A pitched battle could mean 0 Jaguar would fetch # 10 *U* -LRB- $ 16.02 *U* -RRB- a share , or about # 1.8 billion *U* -LRB- $ 2.88 billion *U* -RRB- ,] [ARG0 several analysts] [rel believe] 0 *T*-1 .
- [ARGM *-1 Calling sales `` still relatively soft] , '' [ARG0 Ms. Steppel] [rel believes] that [ARG1 in real terms , U.S. sales slipped 3 1\/2 % to 4 % at company-operated stores in the quarter] .
- [ARG1 For now , the union issue is the most nettlesome of Federal 's Tiger problems] , [ARG0 management] [rel believes] 0 *T*-1 .
- But though [ARG1 most of the 1,087 Federal pilots] are [rel believed] [ARG2-PRD *-1 opposed] , it *EXP*-3 is unclear just how much their loyalty to Mr. Smith has been eroded *-2 *T*-4 .
- He said 0 [ARG0 the company] [rel believed] 0 [ARG1 Qintex Entertainment 's financial problems could have been resolved *-1 by other means] .
- [ARG1 Eventually] , [ARG0 he] [rel believes] 0 *T*-1 , investors will be willing *-2 to pay higher prices for companies with proven track records of earnings growth .
- [ARG0 Barney Hallingby , managing director of research at Hambrecht & Quist ,] [ARGM-DIS also] [rel believes] 0 [ARG1 earnings growth is beginning *-1 to play a greater part in investors ' buying decisions] .
- It also had $ 479.7 million *U* of past-due loans ; its level of reserves against those was n't immediately available , though [ARG1 it] is [rel believed] [ARG2-PRD *-1 to be small] .
- Since its unsuccessful bid for BankAmerica Corp. in 1986 , the bank has undertaken a major restructuring in an effort * to cut costs and boost performance , [ARGM-DIS but] [ARG0 many industry officials] [rel believe] 0 [ARG1 it may be ripe for a takeover bid , especially with interstate banking set *-1 to begin in California in 1991] .
- One analyst , who *T*-1 asked not *-2 to be identified *-3 , said 0 [ARG0 he] [rel believes] that [ARG1 the UAL pilots and management can put together a bid `` in the $ 225 *U* area , ''] but that it could take three to four months * to close .
- One analyst , who *T*-1 asked not *-2 to be identified *-3 , said 0 [ARG0 he] [rel believes] that the UAL pilots and management can put together a bid `` in the $ 225 *U* area , '' but that [ARG1 it could take three to four months * to close] .
- [ARGM At that level , and given the uncertainty] , [ARG0 he] [rel believes] 0 [ARG1 UAL stock should trade closer to]
- [ARGM-ADV Although the bidding group has n't had time 0 * to develop its latest idea fully or to discuss it with banks *T*-2] , [ARG0 it] [rel believes] 0 [ARG1 bank financing could be obtained *-1] .
- Mr. Schulman said 0 [ARG0 he] [rel believes] that [ARG1 the roll-out of DEC 's new mainframe will `` occur somewhat more leisurely '' than many of his investment colleagues expect 0 *?*] .
- There are no plans * to initiate a common stock dividend , Mr. Johnson said 0 *T*-3 , *-2 explaining that [ARG0 the board] continues *-4 to [rel believe] 0 [ARG1 shareholders are best served *-1 by * reinvesting excess cash] .
- James B. Lee , head of syndications and private placements at Chemical Banking Corp. , said 0 [ARG0 he] [rel believes] 0 [ARG1 banks can still make a credible offer of one-stop shopping for takeover finance] .
- [ARGM-DIS But] [ARG0 some observers] [rel believe] 0 [ARG1 Paramount Chairman Martin Davis wanted *-2 to avoid the possible taint of * being perceived *-1 as a corporate raider in his controversial bid for Time] .
- I think 0 [ARG0 some people] [ARGM-MOD may] [rel believe] 0 [ARG1 they 're helping *-1 fund a massive TV and print campaign] , but we could n't find that the charity does anything except write these letters , '' he says *T*-2 .
- Company officials said later that [ARG0 British Airways] [rel believes] 0 [ARG1 its involvement in the UAL buy-out ended last Friday when the buy-out group , which *T*-1 also includes UAL 's management and pilot union , failed *-3 to obtain financing for the $ 6.79 billion *U* transaction *T*-2] .
- Gasoline margins may rebound this quarter , some industry officials say 0 *T*-1 , [ARGM-MOD but] [ARG0 they] [rel believe] 0 [ARG1 chemical margins could worsen] .
- FileNet said 0 [ARG0 it] does [ARGM-NEG n't] [rel believe] 0 [ARG1 the state has a valid basis of default] and is reviewing its legal rights under the contract , but said 0 it ca n't predict the outcome of the dispute .
- [ARG0 Analyst James Weil of the Soundview Financial Group] [rel believes] 0 [ARG1 Dell 's response has been *-1 to place increased emphasis on product quality , `` in an effort * to rise above some of that price pressure] . ''
- He said 0 [ARG0 he] [rel believes] 0 [ARG1 UAL management was badly advised *-1 on the funding of its original transaction] .
- [ARG1 Roughly one-third of its stock] is [rel believed] [ARG2-PRD *-2 held *-3 by takeover stock traders , who *T*-1 could vote *-4 to oust the board if they become impatient] .
- [ARG1 The new B.A.T will be a smaller tobacco and financial-services hybrid whose price-earnings ratio *T*-1 may more closely *ICH*-3 reflect the lower-growth tobacco business than the higher-multiple financial-services business] , [ARG0 these holders] [rel believe] 0 *T*-2 .
- The appeals court also said , 0 `` We think 0 [ARG0 an ordinary businessman reading this policy] [ARGM-MOD would] have [rel believed] [ARG1 himself covered for the demands and potential damage claims '' stemming from any cleanup] .
- Richard M. Greenwood , Valley National 's executive vice president , said then that [ARG0 the company] [rel believed] 0 [ARG1 the write-downs were `` adequate ''] and did n't plan *-1 to increase its reserves again .
- Pinnacle West slashed its quarterly dividend to 40 cents per share from 70 cents in December , *-1 saying at the time that [ARG0 it] [rel believed] 0 [ARG1 the new , lower dividend was `` sustainable] . ''
- [ARG0 He] [rel believes] that [ARG1 the volatile conditions created * by program trading has `` thoroughly confused '' investors about where the market is headed *-1 *T*-2] .
- `` If [ARG0 you] [rel believe] that [ARG1 a good performance next year is contingent on an acceleration of revenue] , there is n't a lot here 0 * to base optimism on *T*-1 . ''
- [ARG1 Trading in futures and options] , [ARG0 some people] [rel believe] 0 *T*-1 , can add to volatility .
- [ARG0 Investors] [rel believe] 0 [ARG1 they can can rely on such derivative securities *-3 to get in *RNR*-1 and out of *RNR*-1 the stock market without *-4 actually selling any stocks] ; that is , a way of * staying liquid even when they own stocks *T*-2 .
- `` [ARG0 I] [ARGM-DIS just] [ARGM-MOD ca] [ARGM-NEG n't] [rel believe] that [ARG1 the innovations in the financial market are causing any of this volatility] , '' he says *T*-1 .
- [ARG0 They] [rel believe] 0 [ARG1 microeconomics , which *T*-1 addresses the problems of markets , investment climate and management practices , is the key to developing-country growth , not the IMF 's Keynesian focus on trade deficits , quarterly targets and government debt] .
- Because [ARG0 commercial banks and the developing-country governments] [rel believe] 0 [ARG1 they will get a piece of any capital increase] , a scaled-down IMF mission would leave both feeling shortchanged .
- [ARG0 Analysts] [rel believe] 0 [ARG1 the car makers also will create joint ventures 0 * to develop new executive models *T*-1 , * doubling Jaguar 's yearly output of 50,000 cars] .
- [ARG0 He] [rel believes] 0 [ARG1 Jaguar 's share price could zoom to between # 8 and # 10 *U* -LRB- $ 12.60 to $ 15.80 *U* -RRB-] .
- In his statement , Mr. Wolf said , `` [ARG0 We] continue *-1 to [rel believe] 0 [ARG1 our approach is sound] , and that it is far better for all employees than the alternative of * having an outsider own the company with employees paying for it just the same . ''
- In his statement , Mr. Wolf said , `` [ARG0 We] continue *-1 to [rel believe] 0 our approach is sound , and that [ARG1 it is far better for all employees than the alternative of * having an outsider own the company with employees paying for it just the same] . ''
- [ARGM-TMP At the time] , its shares were selling above their initial offering price of $ 19 *U* , and [ARG0 bankers] [rel believed] 0 [ARG1 Staples would sell new stock without a hitch] .
- `` [ARG0 I] [rel believe] that [ARG1 the perception that legislation in this area may be hastily approved *-1 contributed to the collapse of the UAL transaction , and the resulting disruption in the financial markets experienced * this past Friday] , '' Mr. Trump wrote members of Congress *T*-2 .
- However , other knowledgeable observers said 0 [ARG0 they] [rel believed] 0 [ARG1 Mr. Crandall and the AMR board might well decide *-1 to tough it out without * taking any extra steps] .
- Some analysts said 0 [ARG0 they] [rel believed] 0 [ARG1 Mr. Trump , whose towering ego *T*-2 had been viewed *-1 by some as a reason * to believe 0 he would n't back out , might come back with a lower bid] .
- Some analysts said 0 they believed 0 Mr. Trump , [ARG0 whose towering ego] *T*-2 had been viewed *-1 by some as a reason * to [rel believe] 0 [ARG1 he would n't back out] , might come back with a lower bid .
- In a letter filed * with the Securities and Exchange Commission , the group , which *T*-1 holds about 4.5 million Telerate shares , or about 4.7 % of the shares outstanding , said `` ... [ARGM-TMP at present] [ARG0 none of us] [rel believes] 0 [ARG1 an offer for less than $ 25 *U* per share would be fair] and some believe that $ 25 *U* is too low . ''
- In a letter filed * with the Securities and Exchange Commission , the group , which *T*-1 holds about 4.5 million Telerate shares , or about 4.7 % of the shares outstanding , said `` ... [ARGM-TMP at present] none of us believes 0 an offer for less than $ 25 *U* per share would be fair and [ARG0 some] [rel believe] that $ 25 *U* is too low . ''
- U.S. Banknote said 0 [ARG0 it] [rel believes] 0 [ARG1 the sale , if *-2 completed *-1 , apparently would satisfy antitrust issues raised * by the U.S. Justice Department about U.S. Banknote 's offer * to buy International Banknote] .
- A company spokesman said 0 [ARG0 he] [rel believed] 0 [ARG1 the confusion was caused *-1 when James Batten , Knight-Ridder 's chairman and chief executive , told New York analysts two weeks ago that Knight-Ridder 's earnings per share for the first nine months of 1989 would `` be behind a little bit '' from like period of *T*-2]
- [ARGM-TMP Until recently] , [ARG0 industry analysts] [rel believed] 0 [ARG1 decreases in retail ad spending had bottomed out and would in fact increase in this year 's third and fourth quarters] .
- [ARG0 Some analysts , such as Murray Grossner of Toronto-based Richardson Greenshields Inc. ,] [rel believe] 0 [ARG1 the government ruling leaves the door open for other bidders , such as Switzerland 's Ciba-Geigy and Chiron Corp. of Emeryville , Calif] .
- [ARG1 Earnings for most of the nation 's major pharmaceutical makers] are [rel believed] [ARG2-PRD *-1 to have moved ahead briskly in the third quarter , as companies with newer , big-selling prescription drugs fared especially well] .
- Mr. King of Robinson-Humphrey and others were quick *-1 to add that [ARG0 they] [rel believe] 0 [ARG1 the problem stemmed more from traders ' inability * to handle the volume of calls , rather than a deliberate attempt * to avoid *-2 making trades] .
- '' [ARG0 Mr. Perkins] [rel believes] , [ARGM-DIS however] , that [ARG1 the market could be stabilized *-1 if California investor Marvin Davis steps back in to the United bidding with an offer of $ 275 *U* a share] .
- [ARGM Others undoubtedly will follow] , [ARGM-DIS but] [ARG0 most analysts] [rel believe] 0 [ARG1 Compaq has at least a six-month lead on the competition] .
- `` [ARG0 We] [rel believe] 0 [ARG1 they could siphon perhaps two to three billion dollars from IBM '' over the next few years] , said 0 *T*-1 George Weiss , an analyst at the Gartner group .
- [ARG1 The affiliation] is [rel believed] [ARG2-PRD *-1 to be the first such cross-border arrangement among major law firms] .
- `` [ARG0 I] [ARGM-MOD ca] [ARGM-NEG n't] [rel believe] that [ARG1 any potential buyer for Hilton would be affected *-1 by one day 's trading] , '' Mr. Lebo said *T*-2 .