Legislation/NN to/TO lift/VB the/ART debt/NN ceiling/NN is/VBZ ensnarled/NNS in/IN the/ART fight/NN over/IN cutting/NN capital-gains/VB taxes/NNS ./. The/ART House/NN has/VB voted/VBN to/TO raise/VB the/ART ceiling/NN to/TO $/$ 3.1/NN trillion/NN ,/, but/CC the/ART Senate/NN is/VBZ not/RB expected/VBD to/IN act/NN until/conj/p next/IN week/NN at/IN the/ART earliest/JJS ./. The/ART Treasury/NN said/VBD the/ART U.S./NNP will/MD default/VB on/IN Nov./NN 9/CD if/CD Congress/NN does/VB not/RB act/NN by/IN then/IN ./. Clark/NN J./NN Vitulli/NNP was/VBD named/VBN senior/JJ vice/NN president/NN and/CC general/JJ manager/NN of/IN this/DT U.S./NNP sales/NNS and/CC marketing/VBG arm/NN of/IN Japanese/NNPS auto/JJ maker/NN Mazda/NNP Motor/NN Corp/NN ./. In/IN the/ART new/JJ position/NN he/PRP will/MD oversee/VB Mazda's/PRP$ U.S./NNP sales/NNS ,/, service/NN ,/, parts/NNS and/CC marketing/VBG operations/NNS ./. Previously/RB ,/, Mr./NNP Vitulli/NNP ,/, 43/NN years/NNS old/JJ ,/, was/VBD general/JJ marketing/NN manager/NN of/IN Chrysler/NN Corp.'s/PRP$ Chrysler/NN division/NN ./. He/PRP had/VBD been/VBN a/ART sales/NNS and/CC marketing/VBG executive/NN with/IN Chrysler/NN for/IN 20/CD years/NNS ./. When/WRB it/PRP 's/VBZ time/NN for/IN their/PRP$ biannual/NN powwow/NN ,/, the/VBP nation's/PRP$ manufacturing/NN titans/NNS typically/RB jet/VB off/RP to/IN the/ART sunny/JJ confines/NN of/IN resort/NN towns/NNS like/IN Boca/NNP Raton/NNP and/CC Hot/JJ Springs/NN ./. Not/RB this/DT year/NN ./. The/ART National/JJ Association/NN of/IN Manufacturers/NN settled/VBN on/IN the/ART Hoosier/NNPS capital/NN of/IN Indianapolis/NN for/IN its/PRP$ fall/NN board/NN meeting/NN ./. And/CC the/ART city/NN decided/VBD to/TO treat/VB its/PRP$ guests/NNS more/RBR like/IN royalty/NN or/CC rock/NN stars/NNS than/IN factory/NN owners/NNS ./. The/ART idea/NN ,/, of/IN course/NN :/: to/TO prove/VB to/TO 125/CD corporate/JJ decision/NN makers/NNS that/WDT the/VBP buckle/VB on/IN the/ART Rust/NN Belt/VB is/VBZ not/RB so/RB rusty/JJ after/IN all/DT ,/, that/WDT it/PRP 's/VBZ a/ART good/JJ place/NN for/IN a/ART company/NN to/TO expand/VB ./. On/IN the/ART receiving/VBG end/NN of/IN the/ART message/NN were/VBD officials/NNS from/IN giants/NN like/IN Du/NN Pont/NNP and/CC Maytag/NNP ,/, along/RB with/IN lesser/JJR knowns/JJ like/IN Trojan/NNP Steel/NN and/CC the/ART Valley/NNP Queen/NN Cheese/NN Factory/NN ./. For/IN starters/NNS ,/, the/ART executives/JJ joined/VBN Mayor/NN William/NNP H./NNP Hudnut/NNP III/NNP for/IN an/ART evening/NN of/IN the/ART Indianapolis/NN Symphony/NN Orchestra/NN and/CC a/ART guest/NN pianist-comedian/NN Victor/NN Borge/NNP ./. Champagne/NN and/CC dessert/NN followed/VBN ./. The/ART next/JJ morning/NN ,/, with/IN a/ART police/NN escort/NN ,/, busloads/NNS of/IN executives/JJ and/CC their/PRP$ wives/NN raced/VBD to/TO the/ART Indianapolis/NN Motor/NN Speedway/NN ,/, unimpeded/NN by/IN traffic/NN or/CC red/JJ lights/NNS ./. The/ART governor/NN couldn't/MD make/VB it/PRP ,/, so/RB the/ART lieutenant/NN governor/NN welcomed/VBD the/ART special/JJ guests/NNS ./. A/ART buffet/NN breakfast/NN was/VBD held/VBN in/IN the/ART museum/NN ,/, where/WRB food/NN and/CC drinks/NNS are/VBP banned/VBN to/TO everyday/JJ visitors/NNS ./. Then/RB ,/, in/IN the/VBP guests'/PRP$ honor/NN ,/, the/ART speedway/NN hauled/VBD out/RP four/CD drivers/NNS ,/, crews/NNS and/CC even/RB the/ART official/JJ Indianapolis/NN 500/CD announcer/NN for/IN a/ART exhibition/NN race/NN ./. After/IN the/ART race/NN ,/, Fortune/NN 500/CD executives/JJ drooled/VBN like/IN schoolboys/NNS over/IN the/ART cars/NNS and/CC drivers/NNS ./. No/DT dummies/NN ,/, the/ART drivers/NNS pointed/VBD out/IN they/PRP still/RB had/VBD space/NN on/IN their/PRP$ machines/NNS for/IN another/DT sponsor's/NN name/NN or/CC two/CD ./. Back/NN downtown/JJ ,/, the/ART execs/NNS squeezed/VBD in/IN a/ART few/JJ meetings/NNS at/IN the/ART hotel/NN before/IN boarding/VBG the/ART buses/NN again/RB ./. This/DT time/NN ,/, it/PRP was/VBD for/IN dinner/NN and/CC dancing/NN --/: a/ART block/NN away/RB ./. Under/IN the/ART stars/NNS and/CC moons/NNS of/IN the/ART renovated/VBN Indiana/NN Roof/NN ballroom/NN ,/, nine/CD of/IN the/ART hottest/JJ chefs/NN in/IN town/NN fed/VBD them/PRP Indiana/NN duckling/NN mousseline/NNS ,/, lobster/NN consomme/NN ,/, veal/NN mignon/NN and/CC chocolate/JJ terrine/NN with/IN a/ART raspberry/NN sauce/NN ./. Knowing/VBG a/ART tasty/JJ --/: and/CC free/JJ --/: meal/NN when/WRB they/PRP eat/VBP one/CD ,/, the/ART executives/JJ gave/VBD the/ART chefs/NN a/ART standing/VBG ovation/NN ./. More/JJR than/IN a/ART few/JJ CEOs/NNPS say/VBP the/ART red-carpet/JJ treatment/NN tempts/VBZ them/PRP to/TO return/VB to/TO a/ART heartland/NN city/NN for/IN future/JJ meetings/NNS ./. But/CC for/IN now/RB ,/, they/PRP 're/VBP looking/VBG forward/RB to/IN their/PRP$ winter/NN meeting/NN --/: Boca/NNP in/IN February/NNP ./. South/JJ Korea/NN registered/VBD a/ART trade/NN deficit/NN of/IN $/$ 101/CD million/CD in/IN October/NNP ,/, reflecting/VBG the/VBP country's/PRP$ economic/JJ sluggishness/NNS ,/, according/NN to/IN government/NN figures/NNS released/VBD Wednesday/NNP ./. Preliminary/JJ tallies/NN by/IN the/ART Trade/NN and/CC Industry/NN Ministry/NN showed/NN another/DT trade/NN deficit/NN in/IN October/NNP ,/, the/ART fifth/JJ monthly/JJ setback/NN this/DT year/NN ,/, casting/VBG a/ART cloud/NN on/IN South/NN Korea's/PRP$ export-oriented/JJ economy/NN ./. Exports/NN in/IN October/NNP stood/VBD at/IN $/$ 5.29/NN billion/CD ,/, a/ART mere/JJ 0.7/NN %/SYM increase/NN from/IN a/ART year/NN earlier/JJR ,/, while/conj/tn imports/NNS increased/JJ sharply/RB to/IN $/$ 5.39/NN billion/CD ,/, up/IN 20/CD %/SYM from/IN last/JJ October/NNP ./. South/NN Korea's/PRP$ economic/JJ boom/NN ,/, which/WDT began/VBD in/IN 1986/NN ,/, stopped/VBD this/DT year/NN because/IN of/IN prolonged/JJ labor/NN disputes/NN ,/, trade/NN conflicts/VBZ and/CC sluggish/JJ exports/NN ./. Government/NN officials/NNS said/VBD exports/NN at/IN the/ART end/NN of/IN the/ART year/NN would/MD remain/VB under/IN a/ART government/NN target/NN of/IN $/$ 68/NN billion/CD ./. Despite/IN the/ART gloomy/JJ forecast/NN ,/, South/JJ Korea/NN has/VB recorded/VBN a/ART trade/NN surplus/NN of/IN $/$ 71/NN million/CD so/adv/conj/so far/JJ this/DT year/NN ./. From/IN January/NNP to/IN October/NNP ,/, the/VBP nation's/PRP$ accumulated/VBN exports/NN increased/VBD 4/CD %/SYM from/IN the/ART same/JJ period/NN last/JJ year/NN to/TO $/$ 50.45/NN billion/CD ./. Imports/NN were/VBD at/IN $/$ 50.38/NN billion/CD ,/, up/IN 19/CD %/SYM ./. Newsweek/NN ,/, trying/VBG to/TO keep/VB pace/NN with/IN rival/JJ Time/NN magazine/NN ,/, announced/VBN new/JJ advertising/NN rates/VBZ for/IN 1990/CD and/CC said/VBD it/PRP will/MD introduce/VB a/ART new/JJ incentive/VB plan/NN for/IN advertisers/NNS ./. The/ART new/JJ ad/NN plan/NN from/IN Newsweek/NN ,/, a/ART unit/NN of/IN the/ART Washington/NNP Post/NN Co./NN ,/, is/VBZ the/ART second/NN incentive/VB plan/VB the/ART magazine/NN has/VB offered/VBN advertisers/NNS in/IN three/CD years/NNS ./. Plans/NN that/WDT give/VBP advertisers/NNS discounts/NN for/IN maintaining/VBG or/CC increasing/JJ ad/NN spending/NN have/VBP become/VBN permanent/JJ fixtures/NN at/IN the/ART news/NN weeklies/NNS and/CC underscore/VB the/ART fierce/JJ competition/NN between/IN Newsweek/NN ,/, Time/NN Warner/NN Inc.'s/PRP$ Time/NN magazine/NN ,/, and/CC Mortimer/NNP B./NNP Zuckerman's/PRP$ U.S./NNP News/NN &/NN World/NN Report/NN ./. Alan/NNP Spoon/NN ,/, recently/RB named/VBN Newsweek/NN president/NN ,/, said/VBD Newsweek's/PRP$ ad/NN rates/NNS would/MD increase/VB 5/CD %/SYM in/IN January/NNP ./. A/ART full/JJ ,/, four-color/NN page/NN in/IN Newsweek/NN will/MD cost/VB $/$ 100,980/NN ./. In/IN mid-October/NN ,/, Time/NN magazine/NN lowered/VBD its/PRP$ guaranteed/NN circulation/NN rate/NN base/NN for/IN 1990/CD while/NN not/RB increasing/JJ ad/NN page/NN rates/NNS ;/: with/IN a/ART lower/JJR circulation/NN base/NN ,/, Time's/NN ad/NN rate/NN will/MD be/VB effectively/RB 7.5/NN %/SYM higher/JJR per/JJ subscriber/NN ;/: a/ART full/JJ page/NN in/IN Time/NN costs/NNS about/IN $/$ 120,000/NN ./. U.S./NNP News/NN has/VB yet/RB to/TO announce/VB its/PRP$ 1990/CD ad/NN rates/NNS ./. Newsweek/NN said/VBD it/PRP will/MD introduce/VB the/ART Circulation/NN Credit/NN Plan/NN ,/, which/WDT awards/NN space/NN credits/NN to/IN advertisers/NNS on/IN "/'' renewal/NN advertising/NN ./. "/'' The/ART magazine/NN will/MD reward/VB with/IN "/'' page/NN bonuses/NN "/'' advertisers/NNS who/WP in/IN 1990/CD meet/NN or/CC exceed/VB their/PRP$ 1989/NN spending/NN ,/, as/IN long/JJ as/IN they/PRP spent/VBD $/$ 325,000/NN in/IN 1989/NN and/CC $/$ 340,000/NN in/IN 1990/CD ./. Mr./NNP Spoon/NN said/VBD the/ART plan/NN is/VBZ not/RB an/ART attempt/NN to/TO shore/VB up/RP a/ART decline/NN in/IN ad/NN pages/NN in/IN the/ART first/JJ nine/CD months/NNS of/IN 1989/NN ;/: Newsweek's/PRP$ ad/NN pages/NN totaled/NN 1,620/NN ,/, a/ART drop/NN of/IN 3.2/NN %/SYM from/IN last/JJ year/NN ,/, according/NN to/IN Publishers/NN Information/NN Bureau/NN ./. "/'' What/WP matters/NNS is/VBZ what/WP advertisers/NNS are/VBP paying/NN per/IN page/NN ,/, and/CC in/IN that/DT department/NN we/PRP are/VBP doing/VBG fine/JJ this/DT fall/NN ,/, "/'' said/VBD Mr./NNP Spoon/NN ./. Both/DT Newsweek/NN and/CC U.S./NNP News/NN have/VBP been/VBN gaining/NN circulation/NN in/IN recent/JJ years/NNS without/IN heavy/JJ use/NN of/IN electronic/JJ giveaways/NN to/IN subscribers/NN ,/, such/JJ as/IN telephones/NN or/CC watches/NN ./. However/RB ,/, none/NN of/IN the/ART big/JJ three/CD weeklies/NNS recorded/VBD circulation/NN gains/NN recently/RB ./. According/NN to/TO Audit/VB Bureau/NN of/IN Circulations/NN ,/, Time/NN ,/, the/ART largest/JJS newsweekly/NNS ,/, had/VBD average/JJ circulation/NN of/IN 4,393,237/NN ,/, a/ART decrease/NN of/IN 7.3/NN %/SYM ./. Newsweek's/PRP$ circulation/NN for/IN the/ART first/JJ six/CD months/NNS of/IN 1989/NN was/VBD 3,288,453/NN ,/, flat/NN from/IN the/ART same/JJ period/NN last/JJ year/NN ./. U.S./NNP News'/PRP$ circulation/NN in/IN the/ART same/JJ time/NN was/VBD 2,303,328/NN ,/, down/IN 2.6/NN %/SYM ./. New/JJ England/NNP Electric/NN System/NN bowed/VBD out/RP of/IN the/ART bidding/NN for/IN Public/JJ Service/NN Co./NN of/IN New/JJ Hampshire/NN ,/, saying/VBG that/DT the/ART risks/NNS were/VBD too/RB high/JJ and/CC the/ART potential/JJ payoff/NN too/RB far/RB in/IN the/ART future/NN to/TO justify/VB a/ART higher/JJR offer/NN ./. The/ART move/NN leaves/VBZ United/JJ Illuminating/NNP Co./NN and/CC Northeast/NN Utilities/NN as/IN the/ART remaining/JJ outside/JJ bidders/NN for/IN PS/NNP of/IN New/JJ Hampshire/NN ,/, which/WDT also/RB has/VB proposed/VBN an/ART internal/JJ reorganization/NN plan/NN in/IN Chapter/NN 11/CD bankruptcy/NN proceedings/NNS under/IN which/WDT it/PRP would/MD remain/VB an/ART independent/JJ company/NN ./. New/JJ England/NNP Electric/NN ,/, based/NN in/IN Westborough/NNPS ,/, Mass./NN ,/, had/VBD offered/VBN $/$ 2/CD billion/CD to/TO acquire/VB PS/NNP of/IN New/JJ Hampshire/NN ,/, well/RB below/IN the/ART $/$ 2.29/NN billion/CD value/NN United/JJ Illuminating/NNP places/NNS on/IN its/PRP$ bid/NN and/CC the/ART $/$ 2.25/NN billion/CD Northeast/NN says/NN its/PRP$ bid/NN is/VBZ worth/IN ./. United/JJ Illuminating/NNP is/VBZ based/NN in/IN New/JJ Haven/NN ,/, Conn./NN ,/, and/CC Northeast/NN is/VBZ based/NN in/IN Hartford/NN ,/, Conn/NNP ./. PS/NNP of/IN New/JJ Hampshire/NN ,/, Manchester/NNP ,/, N.H./NN ,/, values/NNS its/PRP$ internal/JJ reorganization/NN plan/NN at/IN about/IN $/$ 2.2/NN billion/CD ./. John/NNP Rowe/NN ,/, president/NN and/CC chief/JJ executive/NN officer/NN of/IN New/JJ England/NNP Electric/NN ,/, said/VBD the/ART company's/NN return/NN on/IN equity/NN could/MD suffer/VB if/VBP it/WP made/VBD a/ART higher/JJR bid/NN and/CC its/PRP$ forecasts/NN related/JJ to/IN PS/NNP of/IN New/JJ Hampshire/NN --/: such/DT as/as/conj/p growth/NN in/IN electricity/NN demand/NN and/CC improved/JJ operating/NN efficiencies/NN --/: did/VB not/RB come/VB true/JJ ./. "/'' When/WRB we/PRP evaluated/VBD raising/VB our/PRP$ bid/NN ,/, the/ART risks/NNS seemed/VBD substantial/JJ and/CC persistent/JJ over/IN the/ART next/JJ five/CD years/NNS ,/, and/CC the/ART rewards/NN seemed/VBD a/ART long/JJ way/NN out/RP ./. That/DT got/VBD hard/RB to/TO take/VB ,/, "/'' he/PRP added/VBD ./. Mr./NNP Rowe/NN also/RB noted/VBN that/DT political/JJ concerns/NNS also/RB worried/JJ New/JJ England/NNP Electric/NN ./. No/DT matter/NN who/WP owns/VBZ PS/NNP of/IN New/JJ Hampshire/NN ,/, after/IN it/PRP emerges/VB from/IN bankruptcy/NN proceedings/NNS its/PRP$ rates/NNS will/MD be/VB among/IN the/ART highest/JJ in/IN the/ART nation/NN ,/, he/PRP said/VBD ./. "/'' That/DT attracts/VB attention/NN .../: it/PRP was/VBD just/RB another/DT one/NN of/IN the/ART risk/NN factors/NNS "/'' that/WDT led/VBD to/TO the/ART company's/NN decision/NN to/TO withdraw/VB from/IN the/ART bidding/NN ,/, he/PRP added/VBD ./. Wilbur/NN Ross/NN Jr./NN of/IN Rothschild/NNPS Inc./NN ,/, the/ART financial/JJ adviser/NN to/IN the/ART troubled/JJ company's/NN equity/NN holders/NNS ,/, said/VBD the/ART withdrawal/NN of/IN New/JJ England/NNP Electric/NN might/MD speed/VB up/RP the/ART reorganization/NN process/NN ./.