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<DATE>19-OCT-1987 15:35:53.55</DATE><TOPICS><D>crude</D><D>ship</D></TOPICS><PLACES><D>bahrain</D><D>iran</D><D>usa</D></PLACES><PEOPLE></PEOPLE><ORGS></ORGS><EXCHANGES></EXCHANGES><COMPANIES></COMPANIES><UNKNOWN> Y f2873reuter f AM-GULF-PLATFORM 10-19 0101</UNKNOWN><TEXT><TITLE>HUGE OIL PLATFORMS DOT GULF LIKE BEACONS</TITLE><AUTHOR> By ASHRAF FOUAD</AUTHOR><DATELINE> BAHRAIN, Oct 19 - </DATELINE><BODY>Huge oil platforms dot the Gulf likebeacons -- usually lit up like Christmas trees at night. One of them, sitting astride the Rostam offshore oilfield,was all but blown out of the water by U.S. Warships on Monday. The Iranian platform, an unsightly mass of steel andconcrete, was a three-tier structure rising 200 feet (60metres) above the warm waters of the Gulf until four U.S.Destroyers pumped some 1,000 shells into it. The U.S. Defense Department said just 10 pct of one sectionof the structure remained. U.S. helicopters destroyed three Iranian gunboats after anAmerican helicopter came under fire earlier this month and U.S.forces attacked, seized, and sank an Iranian ship they said hadbeen caught laying mines. But Iran was not deterred, according to U.S. defenseofficials, who said Iranian forces used Chinese-made Silkwormmissiles to hit a U.S.-owned Liberian-flagged ship on Thursdayand the Sea Isle City on Friday. Both ships were hit in the territorial waters of Kuwait, akey backer of Iraq in its war with Iran. Henry Schuler, a former U.S. diplomat in the Middle Eastnow with CSIS said Washington had agreed to escort Kuwaititankers in order to deter Iranian attacks on shipping. But he said the deterrence policy had failed and the levelof violence and threats to shipping had increased as a resultof U.S. intervention and Iran's response. The attack on the oil platform was the latest example of aU.S. "tit-for-tat" policy that gave Iran the initiative, saidHarlan Ullman, an ex-career naval officer now with CSIS. He said with this appraoch America would suffer "the deathof one thousand cuts." But for the United States to grab the initiativemilitarily, it must take warlike steps such as mining Iran'sharbors or blockading the mouth of the Gulf through which itsshipping must pass, Schuler said. He was among those advocating mining as a means of bringingIran to the neogtiating table. If vital supplies were cut off,Tehran could not continue the war with Iraq. Ullman said Washington should join Moscow in a diplomaticinitiative to end the war and the superpowers should impose anarms embargo against Tehran if it refused to negotiate. He said the United States should also threaten to mine andblockade Iran if it continued fighting and must press Iraq toacknowledge responsibility for starting the war as part of asettlement. Iranian and Western diplomats say Iraq started the war byinvading Iran's territory in 1980. Iraq blames Iran for theoutbreak of hostilities, which have entailed World War I-styleinfantry attacks resulting in horrific casualties. Each side has attacked the others' shipping. Reuter</BODY></TEXT></REUTERS><REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="20434" NEWID="21003"><DATE>19-OCT-1987 15:34:40.05</DATE><TOPICS><D>acq</D></TOPICS><PLACES></PLACES><PEOPLE></PEOPLE><ORGS></ORGS><EXCHANGES></EXCHANGES><COMPANIES></COMPANIES><UNKNOWN> F f2863reuteb f BC-CCR-VIDEO-SAYS 10-19 0015</UNKNOWN><TEXT TYPE="BRIEF">******<TITLE>CCR VIDEO SAYST RECEIVED OFFER TO NEGOTIATE A TAKEOVER BY INTERCEP INVESTMENT CORP</TITLE>Blah blah blah.</TEXT></REUTERS><REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="20433" NEWID="21004"><DATE>19-OCT-1987 15:32:25.38</DATE><TOPICS></TOPICS><PLACES><D>canada</D></PLACES><PEOPLE></PEOPLE><ORGS></ORGS><EXCHANGES></EXCHANGES><COMPANIES></COMPANIES><UNKNOWN> E F f2855reuteb f BC-GM-<GM>-CANADA-UNIT-M 10-19 0096</UNKNOWN><TEXT><TITLE>GM <GM> CANADA UNIT MAJOR OFFER ACCEPTED BY UNION</TITLE><DATELINE> TORONTO, Oct 19 - </DATELINE><BODY>The Canadian Auto Workers' Union said itaccepted an economic offer from the Canadian division ofGeneral Motors Corp <GM> in contract negotiations. But union president Bob White said many local issues at the11 plants in Ontario and Quebec still remained unresolved aheadof Thursday's deadline for a strike by 40,000 workers. "It minimizes the possibility of a strike," White toldreporters. However, "if we don't have local agreements settled byThursday, there will be a strike," he said. The local issues still unresolved involved health care,skilled trades and job classifications, White said. GM Canada negotiator Rick Curd said he believed a strikewould be avoided. "Even though there are some tough issues to be resolvedwe're on the right schedule to meet the target," Curd said. "I'm very pleased with the state of the negotiations," hesaid. Union membership meetings have been scheduled for theweekend in case a tentative settlement, said White. White said the union has also received assurances that ajob protection pact negotiated with GM workers in the U.S. doesnot threaten Canadian jobs. The economic offer for a three-year pact largely matchesagreements at Ford <F> and Chrysler <C> in Canada, whichinclude inflation-indexed payments for future retirees andfixed annual payments for current retirees. It also gives workers wage increases of three pctimmediately and 1.5 pct in each of the second and third years. Reuter</BODY></TEXT></REUTERS><REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="20432" NEWID="21005"><DATE>19-OCT-1987 15:32:11.59</DATE><TOPICS></TOPICS><PLACES><D>canada</D></PLACES><PEOPLE></PEOPLE><ORGS></ORGS><EXCHANGES></EXCHANGES><COMPANIES></COMPANIES><UNKNOWN> E F f2854reuteu f BC-CANADA-DEVELOPMENT-UN 10-19 0092</UNKNOWN><TEXT><TITLE>CANADA DEVELOPMENT UNIT <CDC.TO> REFINANCES</TITLE><DATELINE> SARNIA, Ontario, Oct 19 - </DATELINE><BODY>Canada Development Corp said its<Polysar Ltd> unit completed a refinancing package worth about830 mln Canadian dlrs. The company said the financing, which involves 24 banks and four syndicated loans, consists of a 380 mln Canadian dlrrevolver, a 200 mln Canadian dlr European medium term loan, a149 mln Canadian dlr revolver and a 100 mln Canadian dlroperating loan. The company said the refinancing will reduce borrowingcosts, in addition to having other benefits. Reuter</BODY></TEXT></REUTERS><REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="20431" NEWID="21006"><DATE>19-OCT-1987 15:31:35.28</DATE><TOPICS><D>crude</D><D>ship</D></TOPICS><PLACES><D>bahrain</D><D>usa</D><D>iran</D></PLACES><PEOPLE></PEOPLE><ORGS></ORGS><EXCHANGES></EXCHANGES><COMPANIES></COMPANIES><UNKNOWN> C f2849reuteu f BC-/DIPLOMATS-CALL-U.S. 10-19 0110</UNKNOWN><TEXT><TITLE>DIPLOMATS CALL U.S. ATTACK ON OIL RIG RESTRAINED</TITLE><AUTHOR> By Ian MacKenzie</AUTHOR><DATELINE> BAHRAIN, Oct 19 - </DATELINE><BODY>A U.S. attack on an Iranian oil platformin the Gulf on Monday appeared to be a tit-for-tat raidcarefully orchestrated not to be too provocative or upset Araballies, Western diplomats in the region said. U.S. Defence Secretary Caspar Weinberger said Monday thatU.S. Warships destroyed the oil platform in the southern Gulfin response to a missile strike on the American-registeredKuwaiti tanker Sea Isle City in Kuwaiti waters on Friday. "We consider the matter closed," he said, a signal the U.S.administration did not want the Gulf crisis to escalate. Iran had warned the United States earlier in the dayagainst exacerbating the Gulf crisis, saying military actionwould endanger American interests. Following the raid, a okesman for Tehran's WarInformation Headquarters vowed to avenge the attack with a"crushing blow." "The United States has entered a swamp from which it can inno way get out safely," Tehran Radio quoted him as saying. Diplomats noted, however, Iran was also seeking to avoidostracism by Arab states due to meet at a summit in Amman onNovember 8 and discuss the Iran-Iraq war. Iranian Prime Minister Mir-Hossein Mousavi is currently inDamascus, and diplomats said he would seek Syrian help inpreventing a total Arab breach with Tehran. Further escalation of the war threatening the Gulf Arabstates could work against Tehran at the Amman gathering, theysaid. "The ball is in Iran's court now. It's up to Tehran torespond one way or the other," a diplomat said. President Ronald Reagan warned Iran of stronger Americancountermeasures if the military escalation continued. Western diplomats and military sources in the area saidshelling the platform appeared to be the least provocative actthe United States could have taken once it had decided toretaliate for the tanker attack, blamed by both the Americansand Kuwaitis on Iran. "It's interesting that they chose something in internationalwaters because it doesn't implicate any other nation," onediplomat said. "This was better for U.S. Relations with the GulfArab states, particularly Kuwait." Commented another diplomat: "Kuwait must be happy that theU.S. Has done something, but relieved that Faw was not attackedon its doorstep." One source said of the attack on the oil platform: "Theymanaged to warn off the crew and hit something that was theleast nuisance to everybody." A diplomat commented: "They were very clever in the placethey chose. It gets attention, but it hasn't devastatedanything because it wasn't working in the first place." A senior Arab banker in the area said after the news broke:"This was a good, measured response without risking a flare-up... It is a face-saving response (for the Americans)." Reuter</BODY></TEXT></REUTERS><REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="20430" NEWID="21007"><DATE>19-OCT-1987 15:30:22.56</DATE><TOPICS><D>acq</D></TOPICS><PLACES><D>usa</D><D>france</D></PLACES><PEOPLE></PEOPLE><ORGS></ORGS><EXCHANGES></EXCHANGES><COMPANIES></COMPANIES><UNKNOWN> F f2842reuter f BC-BROWN-DISC-TO-BUY-RHO 10-19 0076</UNKNOWN><TEXT><TITLE>BROWN DISC TO BUY RHONE-POULENC <RHON.PA> UNIT</TITLE><DATELINE> COLORADO SPRINGS, Colo., Oct 19 - </DATELINE><BODY>Brown Disc Products CoInc, a unit fo Genevar Enterprises Inc, said it has purchasedthe ongoing business, trademarks and certain assets ofRhone-Poulenc's Brown Disc Manufacturing unit, for undisclosedterms. Rhone-Poulenc is a French-based chemical company. Under the agreement, Rhone-Poulenc will supply magnetictape and media products to Brown Disc Products. Reuter</BODY></TEXT></REUTERS><REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="20429" NEWID="21008"><DATE>19-OCT-1987 15:28:27.68</DATE><TOPICS></TOPICS><PLACES></PLACES><PEOPLE></PEOPLE><ORGS></ORGS><EXCHANGES></EXCHANGES><COMPANIES></COMPANIES><UNKNOWN> V RM f2834reutef f BC-DOW-SINKS-TO-LO 10-19 0011</UNKNOWN><TEXT TYPE="BRIEF">******<TITLE>DOW SINKS TO LOWEST LEVEL OF THE YEAR, DOWN 370 POINTS TO 1876</TITLE>Blah blah blah.</TEXT></REUTERS><REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="5670" NEWID="127"><DATE>26-FEB-1987 17:00:56.04</DATE><TOPICS><D>crude</D></TOPICS><PLACES><D>usa</D></PLACES><PEOPLE></PEOPLE><ORGS></ORGS><EXCHANGES></EXCHANGES><COMPANIES></COMPANIES><UNKNOWN> Yf0119reuteu f BC-DIAMOND-SHAMROCK-(DIA 02-26 0097</UNKNOWN><TEXT><TITLE>DIAMOND SHAMROCK (DIA) CUTS CRUDE PRICES</TITLE><DATELINE> NEW YORK, FEB 26 - </DATELINE><BODY>Diamond Shamrock Corp said thateffective today it had cut its contract prices for crude oil by1.50 dlrs a barrel. The reduction brings its posted price for West TexasIntermediate to 16.00 dlrs a barrel, the copany said. "The price reduction today was made in the light of fallingoil product prices and a weak crude oil market," a companyspokeswoman said. Diamond is the latest in a line of U.S. oil companies thathave cut its contract, or posted, prices over the last two daysciting weak oil markets. Reuter</BODY></TEXT></REUTERS><REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="5671" NEWID="128"><DATE>26-FEB-1987 17:01:28.10</DATE><TOPICS><D>acq</D></TOPICS><PLACES><D>usa</D></PLACES><PEOPLE></PEOPLE><ORGS></ORGS><EXCHANGES></EXCHANGES><COMPANIES></COMPANIES><UNKNOWN> Ff0121reuteu f BC-LIEBERT-CORP-<LIEB>-A 02-26 0051</UNKNOWN><TEXT><TITLE>LIEBERT CORP <LIEB> APPROVES MERGER</TITLE><DATELINE> COLUMBUS, Ohio, Feb 26 - </DATELINE><BODY>Liebert Corp said its shareholdersapproved the merger of a wholly-owned subsidiary of EmersonElectric Co <EMR>. Under the terms of the merger, each Liebert shareholderwill receive .3322 shares of Emerson stock for each Liebertshare. Reuter</BODY></TEXT></REUTERS>
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