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shr for 1986 year and both 1985 periods from improvement in
results of its universal life business than first estimated.
Reuter
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="5571" NEWID="28">
<DATE>26-FEB-1987 15:38:26.23</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>reagan</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
V RM
f0823reute
r f AM-REAGAN-IMPACT-(NEWS-A NALYSIS) 02-26 0092</UNKNOWN>
<TEXT>
<TITLE>TOWER REPORT DIMINISHES REAGAN'S HOPES OF REBOUND</TITLE>
<AUTHOR> By Michael Gelb, Reuters</AUTHOR>
<DATELINE> WASHINGTON, Feb 26 - </DATELINE><BODY>The Tower Commission report, which
says President Reagan was ignorant about much of the Iran arms
deal, just about ends his prospects of regaining political
dominance in Washington, political analysts said.
"This is certification of incompetence," private political
analyst Stephen Hess told Reuters in commenting on the Tower
report made public today.
"It's as if he went before a professional licensing board
and was denied credentials."
In one of the most direct criticisms, board chairman John
Tower, a longtime Reagan supporter and former Republican
senator from Texas, told a press conference, "The president
clearly did not understand the nature of this operation."
The report, which lent credence to widespread opinion in
Washington that Reagan is not in full command of the
government, was particularly damaging because it was prepared
by a board of the Republican president's own choosing.
The three-member panel made up of Tower, former National
Security Adviser Brent Scowcroft and former Secretary of State
Edmund Muskie, does not carry the partisan taint of criticism
from a Congress controlled by the Democratic party.
"We're falling by our own hand," said one Republican
political strategist. "What can we say except 'we're sorry, we
won't do it again'?"
The strategist, who works for one of his party's top 1988
presidential contenders and asked not to be identified, said
the report was like "an anvil falling on us."
Hess, with the Brookings Institution public policy study
group, said the report is the final blow to Reagan's hopes of
regaining the upper hand he once had in dealings with Congress,
the press and the Washington bureaucracy.
The report may also undermine the standing of Defense
Secretary Caspar Weinberger and Secretary of State George
Shultz, who the report suggests were more interested in keeping
their own skirts clean than supporting the president.
"They protected the record as to their own positions on this
issue. They were not energetic in attempting to protect the
president from the consequences," it said.
White House chief of staff Donald Regan and former Central
Intelligence Agency Director William Casey also received strong
criticism, but the blows were expected in their cases.
Regan, expected to resign or be fired shortly, was savaged
for allegedly failing both to help Reagan conduct the Iran
initiative and to avoid "chaos" in the disclosure process.
Casey, who underwent surgery for removal of a cancerous
brain tumor in December, had already resigned for health
reasons last month.
"This is a story about people who came up somewhat short of
being heroes," Tower told reporters.
While Reagan retains considerable constitutional powers,
including command of the armed forces and the right to veto
legislation, analysts say it will be difficult for him to
retake control of the country's policy agenda -- particularly
with Congress controlled by the Democrats.
The crucial remaining question, they said, is whether the
man in the street will forsake Reagan over the affair.
Although his job approval rating has fallen as much as
twenty percentage points in some opinion polls since the arms
deal with Iran became public last November, his personal
popularity is still relatively high.
A Los Angeles Times poll released earlier this week showed
that just 37 pct of those surveyed thought Reagan was in
control of the government, but 55 pct still thought he was
doing a good job as president.
American Enterprise Institute analyst William Schneider, a
Democrat, says Reagan's loss of support among Washington power
brokers could be offset by continued backing of the public.
"In the past, he has been able to go around the power elite
by appealing directly to the public," Schneider said.
Reagan will again plead his case that way in a televised
address next week.
But one top Republican strategist warned against expecting
a dramatic turnaround.
"The White House has to avoid building expectations that
cannot be met," said the strategist, who requested anonymity.
"They have to recognize there is no quick fix."
Analysts also point out that Reagan's personal popularity
has not always translated into public backing for his policies.
They note he was dramatically rebuffed in last November's
elections when voters rejected his appeals and restored control
of the Senate to the Democrats.
Reuter
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="5572" NEWID="29">
<DATE>26-FEB-1987 15:39:41.92</DATE>
<TOPICS><D>housing</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
F
f0827reute
r f BC-JANUARY-HOUSING-SALES 02-26 0103</UNKNOWN>
<TEXT>
<TITLE>JANUARY HOUSING SALES DROP, REALTY GROUP SAYS</TITLE>
<DATELINE> WASHINGTON, Feb 26 - </DATELINE><BODY>Sales of previously owned homes
dropped 14.5 pct in January to a seasonally adjusted annual
rate of 3.47 mln units, the National Association of Realtors
(NAR) said.
But the December rate of 4.06 mln units had been the
highest since the record 4.15 mln unit sales rate set in
November 1978, the group said.
"The drop in January is not surprising considering that a
significant portion of December's near-record pace was made up
of sellers seeking to get favorable capital gains treatment
under the old tax laws," said the NAR's John Tuccillo.
Reuter
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="5573" NEWID="30">
<DATE>26-FEB-1987 15:41:56.54</DATE>
<TOPICS><D>money-supply</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
A
f0835reute
f f BC-******ASSETS-OF-MONEY 02-26 0012</UNKNOWN>
<TEXT TYPE="BRIEF">
******<TITLE>ASSETS OF MONEY MARKET MUTUAL FUNDS ROSE 720.4 MLN DLRS IN LATEST WEEK
</TITLE>Blah blah blah.

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="5574" NEWID="31">
<DATE>26-FEB-1987 15:43:14.36</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
A
f0840reute
b f BC-******U.S.-TAX-WRITER 02-26 0013</UNKNOWN>
<TEXT TYPE="BRIEF">
******<TITLE>U.S. TAX WRITERS SEEK ESTATE TAX CURBS, RAISING 6.7 BILLION DLRS THRU 1991
</TITLE>Blah blah blah.

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="5575" NEWID="32">
<DATE>26-FEB-1987 15:43:59.53</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
F
f0842reute
d f BC-SENATORS-INTRODUCE-EX 02-26 0110</UNKNOWN>
<TEXT>
<TITLE>SENATORS INTRODUCE EXPORT LICENSING REFORM BILL</TITLE>
<DATELINE> WASHINGTON, Feb 26 - </DATELINE><BODY>Sens. Alan Cranston (D-Cal.) and
Daniel Evans (R-Wash.) said they introduced export licensing
reform legislation that could save U.S. companies hundreds of
thousands of dollars annually.
"Our emphasis is two-fold: Decontrol and de-license items
where such actions will not endanger our national security, and
eliminate the Department of Defense's de facto veto authority
over the licensing process," Cranston said.
"Our reforms should reduce licensing requirements by 65 to
70 pct," he told reporters. "I am convinced that a more
rational...licensing process will boost exports."
U.S. export controls are intended to deny Eastern bloc
countries access to technology that could further their
military capabilities.
"By refocusing our control resources on higher levels of
technology, technology that is truly critical, we will do a
better job of preventing diversion of critical technology to
our adversaries while promoting more exports," Cranston said.
"We cannot expect to continue to play a leading role in new
technology development in the future if we unduly restrict the
activities of U.S. firms in the world market-place," Evans told
reporters.
Reuter
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="5576" NEWID="33">
<DATE>26-FEB-1987 15:44:36.04</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
F
f0845reute
r f BC-EXCELAN-INC-SETS-INIT 02-26 0061</UNKNOWN>
<TEXT>
<TITLE>EXCELAN INC SETS INITIAL STOCK OFFER</TITLE>
<DATELINE> SAN JOSE, Calif., Feb 26 - </DATELINE><BODY>Excelan Inc said it is making an
initial public offering of 2,129,300 shares of common stock at
12 dlrs per share.
Excelan said 1.6 mln of the shares are being sold by the
company and 529,300 shares are being sold by stockholders.
Excelan designs and manufactures computer-related products.
Reuter
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="5577" NEWID="34">
<DATE>26-FEB-1987 15:45:19.65</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
F
f0847reute
d f BC-CCX-NETWORK-<CCXN>-SE 02-26 0074</UNKNOWN>
<TEXT>
<TITLE>CCX NETWORK <CCXN> SECONDARY OFFERING UNDERWAY</TITLE>
<DATELINE> CONWAY, Ark., Feb 26 - </DATELINE><BODY>CCX Network Inc said it was offering
220,838 shares of stock at 15.75 dlrs a share though
underwriters Stephens Inc and Cazenove Inc.
The company said it was selling the stock on behalf of some
shareholders, including those who recently received shares
in the company in exchange for their businesses.
The company said it was receiving no proceeds from the
offering.
Reuter
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="5578" NEWID="35">
<DATE>26-FEB-1987 15:45:26.55</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
F
f0848reute
r f BC-FIRST-UNION-<FUNC>-FI 02-26 0055</UNKNOWN>
<TEXT>
<TITLE>FIRST UNION <FUNC> FILES 100 MLN DLR NOTES ISSUE</TITLE>
<DATELINE> NEW YORK, Feb 26 - </DATELINE><BODY>First Union Corp said it has filed with
the Securities and Exchange Commission for a proposed offering
of 100 mln dlrs of fixed rate subordinated notes due 1997.
The notes will be sold nationwide through underwriters
managed by Shearson Lehman Brothers Inc.
Reuter
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="5579" NEWID="36">
<DATE>26-FEB-1987 15:45:35.37</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
F
f0849reute
r f BC-OWENS-AND-MINOR-INC-< 02-26 0025</UNKNOWN>
<TEXT>
<TITLE>OWENS AND MINOR INC <OBOD> RAISES QTLY DIVIDEND</TITLE>
<DATELINE> RICHMOND, Va. Feb 26 -
</DATELINE><BODY>Qtly div eights cts vs 7.5 cts prior
Pay March 31
Record March 13
Reuter
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="5580" NEWID="37">
<DATE>26-FEB-1987 15:45:39.20</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
F
f0850reute
r f BC-COMPUTER-LANGUAGE-RES 02-26 0070</UNKNOWN>
<TEXT>
<TITLE>COMPUTER LANGUAGE RESEARCH IN <CLRI> 4TH QTR</TITLE>
<DATELINE> CARROLLTON, Texas, Feb 26 -
</DATELINE><BODY>Shr loss 22 cts vs loss 18 cts
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