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the company grew modestly until 1986 , when a majority position in hooker corp. was acquired by australian developer george herscu , currently hooker 's chairman .DT NN VBD RB IN CD , WRB DT NN NN IN NNP NNP VBD VBN IN NNP NNP NNP NNP , NNP NNP POS NN .DEP NP-SBJ ROOT ADVP PP NP DEP SBAR DEP DEP NP-SBJ PP DEP NP S VP PP DEP DEP DEP NP DEP ADVP DEP NP NP DEP2 3 0 3 3 5 6 6 11 11 15 11 14 12 8 15 16 21 21 21 26 26 26 25 26 17 3mr. herscu proceeded to launch an ambitious , but ill-fated , $ 1 billion acquisition binge that included bonwit teller and b. altman & co. , as well as majority positions in merksamer jewelers , a sacramento chain ; sakowitz inc. , the houston-based retailer , and parisian inc. , the southeast department-store chain .NNP NNP VBD TO VB DT JJ , CC JJ , $ CD CD NN NN WDT VBD NNP NNP CC NNP NNP CC NNP , RB RB IN NN NNS IN NNP NNPS , DT NNP NN : NNP NNP , DT JJ NN , CC NNP NNP , DT NNP NN NN .DEP NP-SBJ ROOT DEP S DEP DEP DEP DEP ADJP DEP ADJP DEP DEP DEP NP-OBJ SBAR S DEP NP DEP DEP DEP DEP NP DEP CONJP DEP DEP DEP NP-OBJ PP DEP NP DEP DEP DEP NP DEP DEP NP DEP DEP DEP NP DEP DEP DEP NP DEP DEP DEP DEP NP DEP2 3 0 5 3 16 10 10 10 16 10 16 12 12 16 5 16 17 20 25 25 25 25 25 31 31 31 27 27 31 18 31 34 38 38 38 38 54 54 41 45 45 45 45 54 54 54 49 54 54 54 54 54 32 3eventually mr. simpson and mr. herscu had a falling out over the direction of the company , and mr. simpson said he resigned in 1988 .RB NNP NNP CC NNP NNP VBD DT VBG RP IN DT NN IN DT NN , CC NNP NNP VBD PRP VBD IN CD .ADVP DEP NP DEP DEP NP-SBJ S DEP NP-OBJ DEP PP DEP NP PP DEP NP DEP DEP DEP NP-SBJ ROOT NP-SBJ SBAR PP NP DEP21 3 6 6 6 7 21 9 7 9 7 13 11 13 16 14 21 21 20 21 0 23 21 23 24 21since then , hooker corp. has sold its interest in the parisian chain back to parisian 's management and is currently attempting to sell the b. altman & co. chain .IN RB , NNP NNP VBZ VBN PRP$ NN IN DT JJ NN RB TO NNP POS NN CC VBZ RB VBG TO VB DT NNP NNP CC NNP NN .PP NP DEP DEP NP-SBJ ROOT VP DEP NP-OBJ PP DEP DEP NP ADVP PP DEP NP NP DEP VP ADVP VP DEP S DEP DEP DEP DEP DEP NP-OBJ DEP6 1 6 5 6 0 6 9 7 9 13 13 10 7 14 17 18 15 6 6 20 20 24 22 30 30 30 30 30 24 6in addition , robert sakowitz , chief executive of the sakowitz chain , is seeking funds to buy out the hooker interest in his company .IN NN , NNP NNP , JJ NN IN DT NNP NN , VBZ VBG NNS TO VB RP DT NNP NN IN PRP$ NN .PP NP DEP DEP NP DEP DEP NP-SBJ PP DEP DEP NP DEP ROOT VP NP-OBJ DEP SBAR PRT DEP DEP NP-OBJ PP DEP NP DEP14 1 14 5 8 8 8 14 8 12 12 9 8 0 14 15 18 16 18 22 22 18 22 25 23 14the merksamer chain is currently being offered for sale by first boston corp .DT NNP NN VBZ RB VBG VBN IN NN IN NNP NNP NNP .DEP DEP NP-SBJ ROOT ADVP VP VP PP NP PP DEP DEP NP DEP3 3 4 0 4 4 6 7 8 7 13 13 10 4reached in honolulu , mr. shidler said that he believes the various hooker malls can become profitable with new management .VBN IN NNP , NNP NNP VBD IN PRP VBZ DT JJ NNP NNS MD VB JJ IN JJ NN .S PP NP DEP DEP NP-SBJ ROOT SBAR NP-SBJ S DEP DEP DEP NP-SBJ SBAR VP ADJP PP DEP NP DEP7 1 2 7 6 7 0 7 10 8 14 14 14 15 10 15 16 16 20 18 7`` these are n't mature assets , but they have the potential to be so , '' said mr. shidler .`` DT VBP RB JJ NNS , CC PRP VBP DT JJ TO VB RB , '' VBD NNP NNP .DEP NP-SBJ S DEP DEP NP-PRD DEP DEP NP-SBJ S DEP NP-OBJ DEP SBAR ADVP DEP DEP ROOT DEP NP-SBJ DEP18 3 10 3 6 3 10 10 10 18 12 10 14 12 14 18 18 0 20 18 18`` managed properly , and with a long-term outlook , these can become investment-grade quality properties .`` VBD RB , CC IN DT JJ NN , DT MD VB JJ NN NNS .DEP S UCP DEP DEP PP DEP DEP NP DEP NP-SBJ ROOT VP DEP DEP NP-PRD DEP12 12 2 3 3 3 9 9 6 12 12 0 12 16 16 13 12canadian steel-ingot production totaled 291,890 metric tons in the week ended oct. 7 , up 14.8 % from the preceding week 's total of 254,280 tons , statistics canada , a federal agency , said .JJ NN NN VBD CD JJ NNS IN DT NN VBN NNP CD , RB CD NN IN DT VBG NN POS NN IN CD NNS , NNPS NNP , DT JJ NN , VBD .DEP DEP NP-SBJ S DEP DEP NP-OBJ PP DEP NP VP NP DEP DEP ADVP DEP NP PP DEP DEP DEP NP NP PP DEP NP DEP DEP NP DEP DEP DEP NP-SBJ DEP ROOT DEP3 3 4 35 7 7 4 4 10 8 10 11 12 4 4 17 15 15 22 22 22 23 18 23 26 24 35 29 33 33 33 33 35 33 0 35the week 's total was up 6.2 % from 274,963 tons a year earlier .DT NN POS NN VBD RB CD NN IN CD NNS DT NN RBR .DEP DEP NP NP-SBJ ROOT ADVP DEP NP PP DEP NP DEP NP ADVP DEP3 3 4 5 0 5 8 6 6 11 9 13 14 9 5the year-to-date total was 12,006,883 tons , up 7.8 % from 11,141,711 tons a year earlier .DT JJ NN VBD CD NNS , RB CD NN IN CD NNS DT NN RBR .DEP DEP NP-SBJ ROOT DEP NP-PRD DEP ADVP DEP NP PP DEP NP DEP NP ADVP DEP3 3 4 0 6 4 4 4 10 8 8 13 11 15 16 11 4the treasury plans to raise $ 175 million in new cash thursday by selling about $ 9.75 billion of 52-week bills and redeeming $ 9.58 billion of maturing bills .DT NNP NNS TO VB $ CD CD IN JJ NN NNP IN VBG IN $ CD CD IN JJ NNS CC VBG $ CD CD IN VBG NNS .DEP NP-SBJ ROOT DEP S NP-OBJ DEP DEP PP DEP NP NP PP S DEP NP-OBJ DEP DEP PP DEP NP DEP VP DEP DEP NP-OBJ PP DEP NP DEP2 3 0 5 3 5 6 6 6 11 9 5 5 13 16 14 16 16 16 21 19 14 14 26 26 23 26 29 27 3the bills will be dated oct. 26 and will mature oct. 25 , 1990 .DT NNS MD VB VBN NNP CD CC MD VB NNP CD , CD .DEP NP-SBJ ROOT VP VP S DEP DEP VP VP NP DEP DEP DEP DEP2 3 0 3 4 5 6 3 3 9 10 11 11 11 3they will be available in minimum denominations of $ 10,000 .PRP MD VB JJ IN JJ NNS IN $ CD .NP-SBJ ROOT VP ADJP PP DEP NP PP DEP NP DEP2 0 2 3 4 7 5 7 10 8 2bids must be received by 1 p.m. edt thursday at the treasury or at federal reserve banks or branches .NNS MD VB VBN IN CD RB NNP NNP IN DT NNP CC IN NNP NNP NNS CC NNS .NP-SBJ ROOT VP VP PP DEP DEP NP NP PP DEP NP DEP PP DEP DEP DEP DEP NP DEP2 0 2 3 4 8 8 5 4 4 12 10 10 10 19 19 19 19 14 2as small investors peppered their mutual funds with phone calls over the weekend , big fund managers said they have a strong defense against any wave of withdrawals : cash .IN JJ NNS VBD PRP$ JJ NNS IN NN NNS IN DT NN , JJ NN NNS VBD PRP VBP DT JJ NN IN DT NN IN NNS : NN .SBAR DEP NP-SBJ S DEP DEP NP-OBJ PP DEP NP PP DEP NP DEP DEP DEP NP-SBJ ROOT NP-SBJ SBAR DEP DEP NP PP DEP NP PP NP DEP NP-OBJ DEP18 3 4 1 7 7 4 4 10 8 4 13 11 18 17 17 18 0 20 18 23 23 30 23 26 24 26 27 30 20 18unlike the weekend before black monday , the funds were n't swamped with heavy withdrawal requests .IN DT NN IN JJ NNP , DT NNS VBD RB VBN IN JJ NN NNS .PP DEP NP PP DEP NP DEP DEP NP-SBJ ROOT DEP VP PP DEP DEP NP DEP10 3 1 3 6 4 10 9 10 0 10 10 12 16 16 13 10and many fund managers have built up cash levels and say they will be buying stock this week .CC JJ NN NNS VBP VBN IN NN NNS CC VBP PRP MD VB VBG NN DT NN .DEP DEP DEP NP-SBJ ROOT VP PRT DEP NP-OBJ DEP VP NP-SBJ SBAR VP VP NP-OBJ DEP NP DEP5 4 4 5 0 5 6 9 6 5 5 13 11 13 14 15 18 15 5at fidelity investments , the nation 's largest fund company , telephone volume was up sharply , but it was still at just half the level of the weekend preceding black monday in 1987 .IN NNP NNP , DT NN POS JJS NN NN , NN NN VBD RB RB , CC PRP VBD RB IN RB PDT DT NN IN DT NN VBG JJ NNP IN CD .PP DEP NP DEP DEP DEP NP DEP DEP NP DEP DEP NP-SBJ S ADVP DEP DEP DEP NP-SBJ ROOT ADVP PP QP DEP DEP NP PP DEP NP VP DEP NP-OBJ PP NP DEP20 3 10 10 7 7 10 10 10 1 10 13 14 20 14 15 20 20 20 0 20 20 26 23 26 22 26 29 27 29 32 30 29 33 20the boston firm said stock-fund redemptions were running at less than one-third the level two years ago .DT NNP NN VBD NN NNS VBD VBG IN JJR IN RB DT NN CD NNS RB .DEP DEP NP-SBJ ROOT DEP NP-SBJ SBAR VP PP DEP QP DEP DEP NP DEP NP ADVP DEP3 3 4 0 6 7 4 7 8 11 14 11 14 9 16 17 14 4as of yesterday afternoon , the redemptions represented less than 15 % of the total cash position of about $ 2 billion of fidelity 's stock funds .IN IN NN NN , DT NNS VBD RBR IN CD NN IN DT JJ NN NN IN IN $ CD CD IN NNP POS NN NNS .PP PP DEP NP DEP DEP NP-SBJ ROOT DEP QP DEP NP-OBJ PP DEP DEP DEP NP PP DEP NP DEP DEP PP DEP NP DEP NP DEP8 1 4 2 8 7 8 0 10 12 10 8 12 17 17 17 13 17 20 18 20 20 17 25 27 27 23 8`` two years ago there were massive redemption levels over the weekend and a lot of fear around , '' said c. bruce johnstone , who runs fidelity investments ' $ 5 billion equity-income fund .`` CD NNS IN EX VBD JJ NN NNS IN DT NN CC DT NN IN NN IN , '' VBD NNP NNP NNP , WP VBZ NNP NNP POS $ CD CD NN NN .DEP DEP NP ADVP NP-SBJ S DEP DEP NP PP DEP NP DEP DEP NP-PRD PP NP ADVP DEP DEP ROOT DEP DEP NP-SBJ DEP SBAR S DEP DEP NP ADJP DEP DEP DEP NP-OBJ DEP21 3 4 6 6 21 9 9 15 9 12 10 15 15 6 15 16 15 21 21 0 24 24 21 24 24 26 30 30 35 35 31 31 35 27 21`` this feels more like a one-shot deal .`` DT VBZ JJR IN DT JJ NN .DEP NP-SBJ ROOT ADVP PP DEP DEP NP DEP3 3 0 5 3 8 8 5 3people are n't panicking . ''NNS VBP RB VBG . ''NP-SBJ ROOT DEP VP DEP DEP2 0 2 2 2 2the test may come today .DT NN MD VB NN .DEP NP-SBJ ROOT VP NP DEP2 3 0 3 4 3friday 's stock market sell-off came too late for many investors to act .NNP POS NN NN NN VBD RB JJ IN JJ NNS TO VB .DEP NP DEP DEP NP-SBJ ROOT ADVP DEP SBAR DEP NP-SBJ DEP S DEP2 5 5 5 6 0 6 7 7 11 13 13 9 6some shareholders have held off until today because any fund exchanges made after friday 's close would take place at today 's closing prices .DT NNS VBP VBN RP IN NN IN DT NN NNS VBD IN NNP POS NN MD VB NN IN NN POS NN NNS .DEP NP-SBJ ROOT VP PRT PP NP SBAR DEP DEP NP-SBJ VP PP DEP NP NP S VP NP-OBJ PP DEP NP DEP NP DEP2 3 0 3 4 4 6 4 11 11 17 11 12 15 16 13 8 17 18 18 22 24 24 20 3stock fund redemptions during the 1987 debacle did n't begin to snowball until after the market opened on black monday .NNP NNP NNS IN DT CD NN VBD RB VB TO VB IN IN DT NN VBD IN NNP NNP .DEP DEP NP-SBJ PP DEP DEP NP ROOT DEP VP DEP S PP SBAR DEP NP-SBJ S PP DEP NP DEP3 3 8 8 7 7 4 0 8 8 12 10 10 13 16 17 14 17 20 18 8but fund managers say they 're ready .CC NN NNS VBP PRP VBP JJ .DEP DEP NP-SBJ ROOT NP-SBJ SBAR ADJP DEP4 3 4 0 6 4 6 4many have raised cash levels , which act as a buffer against steep market declines .JJ VBP VBN NN NNS , WDT VBP IN DT NN IN JJ NN NNS .NP-SBJ ROOT VP DEP NP-OBJ DEP SBAR S PP DEP NP PP DEP DEP NP DEP2 0 2 5 3 5 5 7 8 11 9 8 15 15 12 2mario gabelli , for instance , holds cash positions well above 20 % in several of his funds .NNP NNP , IN NN , VBZ NN NNS RB IN CD NN IN JJ IN PRP$ NNS .DEP NP-SBJ DEP PP NP DEP ROOT DEP NP-OBJ ADVP PP DEP NP PP NP PP DEP NP DEP2 7 7 7 4 7 0 9 7 11 9 13 11 7 14 15 18 16 7windsor fund 's john neff and mutual series ' michael price said they had raised their cash levels to more than 20 % and 30 % , respectively , this year .NNP NNP POS NNP NNP CC NNP NNP POS NNP NNP VBD PRP VBD VBN PRP$ NN NNS TO JJR IN CD NN CC CD NN , RB , DT NN .DEP DEP NP DEP NP DEP DEP DEP NP DEP NP-SBJ ROOT NP-SBJ SBAR VP DEP DEP NP-OBJ PP DEP QP DEP DEP DEP DEP DEP DEP NP DEP DEP NP DEP3 3 5 5 11 11 9 9 11 11 12 0 14 12 14 18 18 15 15 21 28 21 21 21 21 21 28 19 15 31 15 12even peter lynch , manager of fidelity 's $ 12.7 billion magellan fund , the nation 's largest stock fund , built up cash to 7 % or $ 850 million .RB NNP NNP , NN IN NNP POS $ CD CD JJ NN , DT NN POS JJS NN NN , VBN IN NN TO CD NN CC $ CD CD .DEP DEP NP DEP NP-SBJ PP DEP NP ADJP DEP DEP DEP NP DEP DEP DEP NP DEP DEP NP DEP ROOT PRT NP-OBJ PP DEP NP DEP NP DEP DEP DEP3 3 5 5 22 5 8 13 13 9 9 13 20 20 17 17 20 20 20 6 22 0 22 22 22 27 29 29 25 29 29 22one reason is that after two years of monthly net redemptions , the fund posted net inflows of money from investors in august and september .CD NN VBZ IN IN CD NNS IN JJ NN NNS , DT NN VBD JJ NNS IN NN IN NNS IN NNP CC NNP .DEP NP-SBJ ROOT SBAR PP DEP NP PP DEP DEP NP DEP DEP NP-SBJ S DEP NP-OBJ PP NP PP NP PP DEP DEP NP DEP2 3 0 3 15 7 5 7 11 11 8 15 14 15 4 17 15 17 18 17 20 15 25 25 22 3`` i 've let the money build up , '' mr. lynch said , who added that he has had trouble finding stocks he likes .`` PRP VBP VB DT NN VBN RP , '' NNP NNP VBD , WP VBD IN PRP VBZ VBN NN VBG NNS PRP VBZ .DEP NP-SBJ S VP DEP NP-SBJ S PRT DEP DEP DEP NP-SBJ ROOT DEP SBAR S SBAR NP-SBJ S VP NP S NP-OBJ NP-SBJ SBAR DEP13 3 13 3 6 7 4 7 13 13 12 13 0 13 13 15 16 19 17 19 20 20 22 25 23 13not all funds have raised cash levels , of course .RB DT NNS VBP VBN NN NNS , IN NN .DEP ADJP NP-SBJ ROOT VP DEP NP-OBJ DEP PP NP DEP2 3 4 0 4 7 5 5 5 9 4as a group , stock funds held 10.2 % of assets in cash as of august , the latest figures available from the investment company institute .IN DT NN , NN NNS VBD CD NN IN NNS IN NN IN IN NNP , DT JJS NNS JJ IN DT NN NN NNP .PP DEP NP DEP DEP NP-SBJ ROOT DEP NP-OBJ PP NP PP NP PP PP NP DEP DEP DEP NP-OBJ ADJP PP DEP DEP DEP NP DEP7 3 1 7 6 7 0 9 7 9 10 7 12 7 14 15 7 20 20 7 20 21 26 26 26 22 7
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