lower.01
frames-  [ARGM-TMP  In mid-October]  , [ARG0  Time magazine]  [rel  lowered]  [ARG1  its guaranteed circulation rate base for 1990]  [ARGM-TMP  while *-1 not increasing ad page rates]  ; with a lower circulation base , Time 's ad rate *ICH*-2 will be effectively 7.5 % higher per subscriber ; a full page in Time costs about $ 120,000 *U* .
-  Wine merchants ca n't keep Roederer Cristal in stock , but [ARG0  they]  have *-1 to push Salon le Mesnil , *-2 [ARGM-DIS  even]  [rel  lowering]  [ARG1  the price]  from [ARG3-from  $ 115 *U*]  to [ARG4-to  $ 90 *U*]  .
-  Mr. van Dover said 0 the crystal changes 0 his team introduced *T*-1 apparently pins the magnetic fields in place , * preventing [ARG0  them]  from *-3 [rel  lowering]  [ARG1  current-carrying capacity]  .
-  Wall Street 's big securities firms face the prospect of * having [ARG1  their credit ratings]  [rel  lowered]  .
-  But Moody 's warned that [ARG1  Shearson 's commercial paper rating]  [ARGM-MOD  could]  be [rel  lowered]  *-1 [ARGM-TMP  soon]  , [ARGM-ADV  a move that *T*-2 would reduce Shearson 's profit margins on its borrowings and signal trouble ahead for other firms]  .
-  [ARG0  Standard & Poor 's Corp.]  [rel  lowered]  to [ARG4-to  double-C]  from [ARG3-from  triple-C]  [ARG1  the rating on about $ 130 million *U* of debt]  .
-  Anxiety is rising over recent government proposals [ARG0  *]  to [ARGM-TMP  eventually]  [rel  lower]  [ARG1  the strict barriers that *T*-44 now separate -- and protect -- the two industries from each other]  .
-  Moody 's Investors Service Inc. said 0 [ARG0  it]  [rel  lowered]  [ARG1  the ratings on about $ 3.2 billion *U* of Houston Lighting & Power Co. 's securities]  [ARGM-CAU  because of the company 's low levels of interest coverage and internal cash generation]  .
-  [ARG0  It]  refinanced the judge 's loan , [rel  lowered]  [ARG1  its interest rate]  and accepted a trade-in that *T*-172 had n't originally been part of the deal -- a beat up 1981 Chevy Citation 0 the dealer had *-2 to repair *T*-1 before it could be resold *-140 .
-  [ARG0  The bank]  , he wrote back 0 *T*-1 , was `` [ARGM-TMP  immediately]  '' [rel  lowering]  [ARG1  the rate]  by [ARG2-by  3.5 %]  , `` [ARGM-MNR  as a concession to you]  . ''
-  The Soviets hope 0 a trade agreement would give them [ARG0  Most-Favored Nation status]  , which *T*-260 [ARGM-MOD  would]  [rel  lower]  [ARG1  the tariffs on Soviet exports to the U.S.]  .
-  For the PRI to stand a chance , Mr. Salinas has *-2 to press on with [ARG0  an economic program]  that so far *T*-1 has succeeded in *-3 [rel  lowering]  [ARG1  inflation]  and providing moderate economic growth .
-  [ARG0  Other Senators]  want *-1 to [rel  lower]  [ARG1  the down payments required * on FHA-insured loans]  .
-  The upgrade reflected the 20 % decline in shares of the bank since [ARG0  the firm]  [rel  lowered]  [ARG1  its rating]  [ARGM-TMP  in early October]  , [ARGM-CAU  based on the belief 0 the stock had become expensive]  .
-  Economists said 0 the report raised speculation that the economic slowdown could turn into a recession , which *T*-151 would pave the way 0 for [ARG0  the Federal Reserve]  to [rel  lower]  [ARG1  interest rates]  *T*-1 .
-  The city 's Department of Consumer Affairs charged [ARG0  Newmark & Lewis Inc.]  with * failing *-1 to deliver on its promise of * [rel  lowering]  [ARG1  prices]  .
-  In a civil suit commenced in state Supreme Court in New York , the agency alleged that [ARG0  the consumer-electronics and appliance discount-retailing chain]  engaged in deceptive advertising by *-2 claiming *-1 to have `` [rel  lowered]  [ARG1  every price on every item]  '' [ARGM-MNR  as part of an advertising campaign that *T*-165 began June 1]  .
-  Moody 's Investors Service Inc. said 0 [ARG0  it]  [rel  lowered]  [ARG1  ratings on long-term debt of CS First Boston Inc. , the holding company of Wall Street giant First Boston Corp.]  , [ARGM-CAU  because of First Boston 's `` aggressive merchant banking risk '' in highly leveraged takeovers]  .
-  In addition , Moody 's said 0 [ARG0  it]  downgraded Financiere Credit Suisse-First Boston 's senior and subordinated Swiss debt to single-A-2 from single-A-1 and [rel  lowered]  [ARG1  Financiere CSFB N.V. 's junior subordinated perpetual Eurodebt , guaranteed * by Financiere Credit Suisse -- First Boston]  , to [ARG4-to  single-A-3]  from [ARG3-from  single-A-2]  .
-  But Western Union has said 0 [ARG0  it]  [ARGM-MOD  must]  [rel  lower]  [ARG1  the interest rate on its debt]  [ARGM-PNC  *-1 to regain full financial health]  .
-  But some time ago , researchers discovered that [ARG0  soluble fibers]  [ARGM-DIS  also]  [rel  lower]  [ARG1  cholesterol levels in the blood]  .
-  It also ordered P&G to produce more studies 0 *T*-1 to buttress its claims that [ARG0  Metamucil]  [ARGM-MOD  can]  [rel  lower]  [ARG1  cholesterol]  .
-  [ARG0  Standard & Poor 's Corp.]  [rel  lowered]  [ARG1  the rating on Crossland 's preferred stock]  to [ARG4-to  double-C]  from [ARG3-from  single-B-minus]  and placed it on CreditWatch for possible further downgrade .
-  `` Global warming means [ARG0  higher tides]  which *T*-1 [ARGM-MOD  will]  [rel  lower]  [ARG1  Venice]  by [ARG2-by  another 23 inches]  [ARGM-TMP  in the next 100 years]  , '' Giovanni Cecconi of the the New Venice Consortium said *T*-2 .
-  And *-2 to protect their reduced capital investment from *-4 eroding further , [ARG0  market makers]  became quicker *-2 to [rel  lower]  [ARG1  price quotes]  [ARGM-TMP  when sell programs are in progress *T*-3]  .
-  [ARGM-TMP  Last week]  [ARG0  Mr. Adler]  [rel  lowered]  [ARG1  his rating]  from [ARG3-from  hold]  to `` [ARG4-to  avoid]  '' [ARGM-LOC  on Boise Cascade , Champion International , Great Northern Nekoosa , International Paper , Louisiana Pacific and Weyerhaeuser]  .
-  Mr. Palmero recommends Temple-Inland , *-1 explaining that [ARG0  it]  is `` virtually the sole major paper company not undergoing a major capacity expansion , '' and thus should be able *-2 to [rel  lower]  [ARG1  long-term debt]  [ARGM-MNR  substantially]  [ARGM-TMP  next year]  .
-  [ARGM-TMP  Then]  , [ARGM-TMP  after * extending its offer four times *-1 waiting for a congressional tax ruling]  , [ARG0  IMA]  [ARGM-TMP  early this month]  [rel  lowered]  [ARG1  its offer]  to [ARG4-to  $ 26.50 *U* a share]  [ARGM-LOC  amid turbulence in the junk bond market]  .
-  [ARG1  Margins]  were raised or [rel  lowered]  *-1 [ARG2-EXT  about a dozen times]  [ARGM-TMP  since the crash Oct. 19 , 1987]  .
-  [ARG1  Margins on the futures exchanges]  [ARGM-TMP  typically]  are raised and [rel  lowered]  *-1 [ARGM-MNR  according to market volatility]  .
-  That is another small encouragement for [ARG0  the Federal Reserve]  to [rel  lower]  [ARG1  interest rates]  [ARGM-TMP  in coming weeks]  , they reasoned 0 *T*-1 .
-  James Fallon , a New Providence , N.J. , marketing consultant to the chemicals industry , says 0 Du Pont still holds an edge in *-1 making the pigment because the company was `` first in with [ARG0  the technology]  '' 0 *T*-2 to [rel  lower]  [ARG1  costs]  .
-  The profit gain was made *-1 despite a weakening in the housing market , for which the company is a supplier *T*-4 , and [ARG0  a strengthening]  in the dollar , which *T*-3 [rel  lowers]  [ARG1  the value of overseas earnings when they are translated *-2 into dollars *T*-5]  .
-  Many analysts are expecting [ARG0  the Fed]  to [rel  lower]  [ARG1  interest rates]  [ARGM-TMP  at least once more]  [ARGM-TMP  before the end of the year]  .
-  Beghin-Say S.A. said that [ARG0  it]  plans *-1 to sell its remaining paper operations by the end of January as part of a drive * to refocus on the food sector and [rel  lower]  [ARG1  its debt]  .
-  Its third-quarter earnings were lower than analysts had forecast *?* , and the company said 0 [ARG0  it]  had [rel  lowered]  [ARG1  its projections for earnings growth through the end of 1990]  [ARGM-CAU  because of planned price cuts]  .
-  But when the high court ruled in the Webster case in July *T*-1 , [ARG0  the president]  began *-2 to [rel  lower]  [ARG1  the volume]  .
-  '' By [ARG0  *-2]  [rel  lowering]  [ARG1  prices]  [ARGM-LOC  throughout its stores]  , she says *T*-1 , `` Sears has the right idea . ''
-  Now bond investors are looking toward next week 's report from national purchasing managers and the government 's October employment report as *-1 potentially prompting [ARG0  the Fed]  to [rel  lower]  [ARG1  rates]  .
-  And then [ARG0  it]  will be required *-1 to [rel  lower]  [ARG1  taxes]  by [ARG2-by  a corresponding amount]  [ARGM-TMP  during a three-year period]  [ARGM-TMP  after the temporary tax increase ends]  , said 0 *T*-2 Cindy Katz , assistant director of the state department of finance .
-  [ARG0  Some]  , [ARGM-DIS  however]  , [rel  lowered]  [ARG1  yields]  [ARGM-MNR  significantly]  .
-  They 've been able *-1 to measure the minuscule movements of the artery wall as [ARG0  the beating heart]  raises and [rel  lowers]  [ARG1  the pressure of the flowing blood]  , a first for such tiny blood vessels , they report 0 *T*-2 in Nature , a scientific journal .
-  Japan , the world 's third-largest liquor market after the U.S. and Britain , helped American companies in April when [ARG0  it]  [rel  lowered]  [ARG1  its tax on imported spirits]  and levied a tax on many domestic products *T*-1 .
-  California wineries , benefiting from [rel  lowered]  [ARG1  trade]  barriers and federal marketing subsidies , are expanding aggressively into Japan , as well as Canada and Great Britain .
-  Housing and Urban Development Secretary Jack Kemp called on [ARG0  the Federal Reserve System]  *-1 to [rel  lower]  [ARG1  interest rates]  .
-  [ARG0  The Fed]  recently eased credit by *-1 [rel  lowering]  [ARG1  the bellwether federal funds interest rate]  to [ARG4-to  8 3\/4 %]  from [ARG3-from  about 9 %]  .
-  As [ARG1  interest rates paid depositors *]  were [rel  lowered]  *-1 , thrift withdrawals exceeded deposits by $ 5.1 billion *U* , not including interest credited * to accounts .
-  If this thesis is correct , it has important implications for macroeconomic policies : [ARG0  It]  [ARGM-MOD  may]  [rel  lower]  [ARG1  the sense of urgency behind efforts 0 *T*-1 to enact tax incentives and other measures 0 *T*-2 to increase the rate of growth in productivity and real GNP]  .
-  Moody 's Investors Service Inc. said 0 [ARG0  it]  [rel  lowered]  [ARG1  the debt ratings of certain long-term debt held * by this company]  .
-  Meanwhile , [ARG0  the exchange]  has been trying *-1 to [rel  lower]  [ARG1  costs]  .
-  [ARG0  Merrill Lynch and Prudential-Bache Securities]  both [rel  lowered]  [ARG1  the stock 's investment rating]  [ARGM-TMP  immediately after the results were issued *-1 Friday]  , [ARGM-DIS  according to PIR]  .
-  Such news is good for bonds because economic weakness sometimes causes [ARG0  the Federal Reserve]  to [rel  lower]  [ARG1  interest rates]  [ARGM-MNR  in an effort * to stimulate the economy and stave off a recession]  .
-  One indication of a growing number of junk defaults , Mr. Asquith says 0 *T*-3 , is that about half of the $ 3 billion *U* of [ARG1  corporate bonds outstanding]  that *T*-2 have been [rel  lowered]  *-1 to [ARG4-to  a default rating]  by [ARG0-by  S&P]  [ARGM-TMP  this year]  are junk bonds sold * during the market 's big issue years of 1984 through 1986 .
-  [ARG0  A group including Gene E. Phillips , former chairman of Southmark Corp. , and William S. Friedman , former vice chairman of Southmark ,]  [rel  lowered]  [ARG1  its stake in the Dallas real estate concern]  to [ARG4-to  7.7 %]  , according to a filing with the Securities and Exchange Commission .
-  [ARG0  Owners , largely complacent in the past ,]  are now almost desperately looking for ways 0 * to [rel  lower]  [ARG1  costs]  and raise revenue *T*-1 -- * embracing some revolutionary ideas in the process .
-  [ARGM-DIS  Separately]  , [ARG0  Standard & Poor 's Corp.]  [rel  lowered]  [ARG1  its ratings on Valley National Corp. 's senior debt]  to [ARG4-to  double-B]  from [ARG3-from  double-B-plus]  , [ARGM-ADV  * affecting about $ 300 million *U* of long-term debt]  .
-  [ARG0  S&P]  [ARGM-DIS  also]  [rel  lowered]  [ARG1  ratings on unsecured deposits and issues backed * by a letter of credit from the bank holding company 's principal unit , Valley National Bank of Arizona]  .
-  Economists generally agree that [ARG1  the rate]  was [rel  lowered]  *-1 by [ARG0-by  the Fed]  from [ARG3-from  around 9 % , where it had been since July *T*-2 ,]  to [ARG4-to  about 8 3\/4 % in early October]  [ARGM-LOC  on the heels of a weak employment report]  .
-  Mr. Stein said 0 tighter operating controls have enabled [ARG0  Ekco]  to reduce inventory levels 25 % to 30 % *U* ; improve on-time delivery of orders to about 95 % from around 70 % ; and to [rel  lower]  [ARG1  the number of labor hours required * *-1 to produce a unit]  .
-  Moody 's Investors Service Inc. said 0 [ARG0  it]  [rel  lowered]  [ARG1  the ratings of some $ 145 million *U* of Pinnacle debt]  [ARGM-CAU  because of `` accelerating deficiency in liquidity , '' which it said 0 *T*-2 was evidenced *-1 by Pinnacle 's elimination of dividend payments]  .
-  The rating agency said 0 [ARG0  it]  [rel  lowered]  [ARG1  the ratings on $ 75 million *U* of the holding company 's convertible subordinated Eurodebentures]  to [ARG4-to  B-3]  from [ARG3-from  B-1]  .
-  Moody 's said 0 [ARG0  it]  [ARGM-DIS  also]  [rel  lowered]  [ARG1  the ratings of $ 70 million *U* of Pinnacle 's MeraBank thrift unit long-term deposits]  to [ARG4-to  B-3]  from [ARG3-from  B-2]  , and on its subordinated debt to Ca from Caa .
-  Paper and forest-products stocks declined after [ARG0  Smith Barney , Harris Upham & Co.]  [rel  lowered]  [ARG1  investment ratings on a number of issues in the two sectors]  , [ARGM-CAU  based on a forecast that pulp prices will fall sharply]  .
-  [ARG0  Analysts]  have [ARGM-TMP  continually]  [rel  lowered]  [ARG1  their earnings estimates for the company]  , and their outlook , at least for the short term , is bleak .
-  `` If that gets people excited , it could serve as an impetus *ICH*-2 to the fixed-income markets [ARG0  *]  to [rel  lower]  [ARG1  their rates]  , '' he added *T*-1 .
-  The bursts often occur , they said 0 *T*-1 , after [ARG0  they]  `` perturbed '' the experiments by *-2 raising or [rel  lowering]  [ARG1  the amount of electric current being applied *]  , or switching the current off and on .
-  On the other hand , Symbol Technologies dropped 1 1\/4 to 18 1\/2 after [ARG0  Shearson Lehman Hutton]  [rel  lowered]  [ARG1  its short-term investment rating on the stock and its 1989 earnings estimate]  , and Commodore International fell 7\/8 to 8 after the company said 0 it expects *-1 to post a loss for the September quarter .
-  [ARG0  Merrill Lynch]  [rel  lowered]  [ARG1  its short-term rating on the stock and its estimate of 1990 earnings]  , [ARGM-ADV  *-1 citing a sales slowdown in the company 's credit-rating business]  .
-  [ARG0  It]  [ARGM-DIS  also]  [rel  lowered]  [ARG1  some air fares]  .
-  -LRB- [ARG0  Airlines]  are [ARGM-NEG  n't]  [rel  lowering]  [ARG1  fares to Northern California]  [ARGM-TMP  following this week 's earthquake]  , but reservation agents can waive advance-purchase restrictions on discount fares for emergency trips . -RRB-
-  For those investors who *T*-3 believe -- or fear -- that 1990 will be a recession year , many economists and money managers agree on [ARG0  steps]  that *T*-4 can be taken *-1 * to [rel  lower]  [ARG1  the risks in a portfolio]  .
-  If [ARG1  a bank 's credit rating]  was [rel  lowered]  *-1 [ARGM-CAU  because of , say , its loans to Third World nations]  , that could also affect the ratings , liquidity and prices of the asset-backed issues that the bank supports *T*-2 .
-  Moody 's Investors Service said 0 [ARG0  it]  [rel  lowered]  [ARG1  its rating on about $ 75 million *U* of this Chatsworth , Calif. , concern 's convertible subordinated debentures , due 2012 ,]  to [ARG4-to  Caa]  from [ARG3-from  B2]  .
-  Moody 's Investors Service Inc. said 0 [ARG0  it]  [rel  lowered]  [ARG1  its rating on about $ 400 million *U* of this bank holding company 's senior debt]  to [ARG4-to  B2]  from [ARG3-from  Ba3]  .
-  [ARG0  Raymond James & Associates in St. Petersburg , Fla. ,]  [rel  lowered]  [ARG1  its third-quarter earnings estimate for the company]  , according to Dow Jones Professional Investor Report .
-  Speculation that [ARG0  the Federal Reserve]  [ARGM-MOD  will]  [rel  lower]  [ARG1  interest rates]  [ARGM-TMP  in coming weeks]  helped push the dollar down while *-1 boosting stocks , traders said 0 *T*-2 .
-  [ARG0  An investment group led * by Chicago 's Pritzker family]  [ARGM-TMP  recently]  [rel  lowered]  [ARG1  a $ 3.35 billion *U* bid for American Medical International , Beverly Hills , Calif. ,]  [ARGM-CAU  because of the threat of the legislation]  .
-  [ARG0  Analysts at several brokerage firms]  [rel  lowered]  [ARG1  their 1989 and 1990 earnings estimates on the company]  [ARGM-TMP  after its third-quarter results proved disappointing]  .
-  But researchers say 0 [ARG0  the drug , called * FK-506 ,]  could revolutionize the transplantation field by * reducing harmful side effects and by * [rel  lowering]  [ARG1  rejection rates]  .
-  [ARG0  Mr. Jobs]  moved *-1 to remedy a couple of his computer 's drawbacks yesterday by *-2 [rel  lowering]  [ARG1  the entry-level price for a Next machine]  by [ARG2-by  $ 1,500 *U* , or 23 % ,]  [ARGM-ADV  if the buyer chooses a hard-disk drive as an alternative to Next 's optical-storage device]  .
-  The new reports of sluggishness , which *T*-2 were foreshadowed *-1 by an earlier Labor Department report that manufacturing payrolls dropped by 105,000 in September , give [ARG0  the Fed]  another reason * to further ease its grip on credit and [rel  lower]  [ARG1  interest rates]  .
-  But [ARG1  the warranty on simpler parts]  [ARGM-MOD  would]  be [rel  lowered]  *-1 to [ARG4-to  two years or 24,000 miles]  .
-  Moody 's Investors Service Inc. said 0 [ARG0  it]  [rel  lowered]  [ARG1  ratings on about $ 650 million *U* of Beatrice Co. debt]  , * citing the closely held Chicago food concern 's proposed recapitalization .
-  Judge Masaaki Yoneyama told the Osaka District Court 0 Daikin 's `` responsibility is heavy because [ARG0  illegal exports]  [rel  lowered]  [ARG1  international trust in Japan]  . ''
-  [ARG0  Taco Bell]  has turned around declining customer counts by * [ARGM-TMP  permanently]  [rel  lowering]  [ARG1  the price of its tacos]  .
-  Officials familiar with the talks said 0 [ARG0  Citicorp]  had discussed *-2 [rel  lowering]  [ARG1  the offer]  to [ARG4-to  $ 250 *U* a share]  , but said 0 that price was a talking point and that no decision has been made *-1 .
-  Mr. Hingorani said 0 [ARG0  he]  [rel  lowered]  [ARG1  his full-year estimates for 1989]  to [ARG4-to  $ 5.35 *U* a share]  from [ARG3-from  $ 5.50 *U* a share]  .
-  Lots of other entries *ICH*-2 made up the parade , of course -- notably a surprisingly large increase in producer prices , signalling Federal Reserve tightness ; and [ARG0  the Bush administration 's]  -LRB- temporary ? -RRB- defeat in * trying *-1 to [rel  lower]  [ARG1  the capital-gains tax]  .
-  [ARGM-TMP  Until this year]  , [ARG0  the company]  had been [ARGM-MNR  steadily]  [rel  lowering]  [ARG1  its accident rate]  and picking up trade-group safety awards .
-  [ARGM-MNR  By *-1 lifting ethylene production]  , [ARG0  the expansion]  [ARGM-MOD  will]  [ARGM-DIS  also]  [rel  lower]  [ARG1  the company 's raw material costs]  .
-  [ARG0  The company]  is praised *-1 by analysts for *-1 [ARGM-MNR  sharply]  [rel  lowering]  [ARG1  its costs]  [ARGM-TMP  in recent years]  and shedding numerous companies with low profit margins .
-  [ARG0  Time magazine]  , [ARGM-LOC  in a move 0 *T*-1 to reduce the costs of * wooing new subscribers]  , is [rel  lowering]  [ARG1  its circulation guarantee to advertisers]  [ARGM-TMP  for the second consecutive year]  , increasing its subscription rates and cutting back on merchandise giveaways .
-  However , because [ARG1  the guaranteed circulation base]  is being [rel  lowered]  *-1 , ad rates will be effectively 7.5 % *ICH*-2 higher per subscriber , according to Richard Heinemann , Time associate publisher .
-  [ARGM-ADV  *-1 Anticipating the Fed 's move]  , [ARG0  money traders]  [rel  lowered]  [ARG1  a key interest rate known * as the Federal Funds rate]  to [ARG4-to  8.625 % *ICH*-2]  [ARGM-TMP  late Friday]  , down from [ARG3-from  8.820 % the day before]  .