V1	V2
The	DT
Arizona	NN
Corporations	NN
Commission	NNP
authorized	NN
an	DT
11.5	NN
%	NN
rate	NN
increase	NN
at	IN
Tucson	NN
Electric	NNP
Power	NN
Co.	NNP
,	,
substantially	NN
lower	JJR
than	IN
recommended	NN
last	JJ
month	NN
by	IN
a	DT
commission	NN
hearing	NN
officer	NN
and	CC
barely	NN
half	DT
the	DT
rise	VB
sought	NN
by	IN
the	DT
utility	NN
.	.
The	DT
ruling	NN
follows	VBZ
a	DT
host	NN
of	IN
problems	NNS
at	IN
Tucson	NN
Electric	NNP
,	,
including	VBG
major	JJ
write-downs	NN
,	,
a	DT
60	CD
%	NN
slash	VB
in	IN
the	DT
common	JJ
stock	NN
dividend	NN
and	CC
the	DT
departure	NN
of	IN
former	JJ
Chairman	NN
Einar	NN
Greve	NN
during	IN
a	DT
company	NN
investigation	NN
of	IN
his	PRP$
stock	NN
sales	NNS
.	.
The	DT
Arizona	NN
regulatory	JJ
ruling	NN
calls	NN
for	IN
$	$
42	NN
million	CD
in	IN
added	VBD
revenue	NN
yearly	NN
,	,
compared	VBN
with	IN
a	DT
$	$
57	NN
million	CD
boost	VB
proposed	VBN
by	IN
the	DT
commission	NN
hearing	NN
officer	NN
.	.
The	DT
company	NN
had	VBD
sought	NN
increases	NNS
totaling	VBG
$	$
80.3	NN
million	CD
,	,
or	CC
22	CD
%	NN
.	.
The	DT
decision	NN
was	VBD
announced	VBD
after	IN
trading	NN
ended	VBD
.	.
Tucson	NN
Electric	NNP
closed	VBD
at	IN
$	$
20.875	NN
a	DT
share	NN
,	,
down	RB
25	CD
cents	NNS
,	,
in	IN
New	NNP
York	NNP
Stock	NNP
Exchange	NNP
composite	JJ
trading	NN
.	.
A	DT
Tucson	NN
Electric	NNP
spokesman	NN
said	VBD
the	DT
utility	NN
was	VBD
disappointed	NN
by	IN
the	DT
commission	NN
's	POS
decision	NN
and	CC
``	``
concerned	VBN
about	IN
the	DT
financial	JJ
integrity	NN
of	IN
the	DT
company	NN
.	.
''	''
South	NNP
Korean	NN
President	NNP
Roh	NN
Tae	NN
Woo	NN
,	,
brushing	NN
aside	NN
suggestions	NN
that	IN
the	DT
won	NN
be	VB
revalued	NN
again	RB
,	,
said	VBD
the	DT
currency	NN
's	POS
current	JJ
level	NN
against	IN
the	DT
dollar	NN
is	VBZ
``	``
appropriate	NN
.	.
''	''
His	NN
comments	NN
,	,
made	VBN
in	IN
response	NN
to	TO
reporters	NN
'	POS
questions	NN
at	IN
the	DT
National	NNP
Press	NN
Club	NNP
here	RB
,	,
signaled	NN
that	IN
Seoul	NNP
is	VBZ
resisting	NN
U.S.	NNP
pressure	NN
for	IN
a	DT
further	JJ
rise	VB
in	IN
the	DT
currency	NN
's	POS
value	NN
.	.
The	DT
U.S.	NNP
wants	VBZ
a	DT
higher	JJR
won	NN
to	TO
make	VB
South	NNP
Korea	NNP
's	POS
exports	NNS
more	RBR
expensive	NN
and	CC
help	VB
trim	NN
Seoul	NNP
's	POS
trade	NN
surplus	NN
.	.
Many	NN
South	NNP
Korean	NN
business	NN
people	NNS
want	VB
a	DT
devaluation	NN
instead	NN
,	,
arguing	NN
that	IN
the	DT
won	NN
's	POS
recent	JJ
gains	NNS
already	RB
have	VBP
weakened	NN
the	DT
country	NN
's	POS
export	NN
performance	NN
.	.
Mr.	NNP
Roh	NN
also	RB
said	VBD
South	NNP
Korea	NNP
is	VBZ
taking	NN
steps	NN
that	IN
would	MD
free	JJ
the	DT
won	NN
to	TO
respond	NN
to	TO
market	NN
forces	VBZ
.	.
Seoul	NNP
has	VBZ
pointed	VBD
to	TO
its	PRP$
lack	NN
of	IN
a	DT
foreign	JJ
exchange	NN
market	NN
as	IN
one	CD
reason	NN
the	DT
won	NN
's	POS
value	NN
remains	NN
heavily	RB
controlled	NN
.	.
Mr.	NNP
Roh	NN
said	VBD
a	DT
U.S.	NNP
demand	NN
for	IN
the	DT
removal	NN
of	IN
South	NNP
Korean	NN
import	NN
quotas	NN
on	IN
beef	NN
will	MD
be	VB
resolved	NN
``	``
satisfactorily	NN
''	''
but	CC
gave	VBD
no	DT
hint	NN
when	WRB
that	IN
will	MD
happen	VB
.	.
Speaking	NN
to	TO
a	DT
joint	JJ
meeting	NN
of	IN
Congress	NNP
earlier	JJR
,	,
he	PRP
said	VBD
South	NNP
Korea	NNP
ca	NN
n't	RB
move	NN
quickly	RB
on	IN
such	JJ
agricultural	NN
trade	NN
issues	NN
``	``
without	IN
causing	VBG
political	JJ
and	CC
social	NN
trauma	NN
.	.
''	''
Great	NN
American	JJ
Bank	NNP
said	VBD
its	PRP$
board	NN
approved	VBD
the	DT
formation	NN
of	IN
a	DT
holding	VBG
company	NN
enabling	NN
the	DT
savings	NNS
bank	NN
to	TO
pursue	VB
nontraditional	NN
banking	NN
activities	NN
under	IN
a	DT
new	JJ
federal	JJ
law	NN
.	.
The	DT
proposed	VBN
holding	VBG
company	NN
's	POS
primary	NN
purpose	NN
would	MD
be	VB
to	TO
allow	VBP
Great	NN
American	JJ
to	TO
continue	VB
engaging	NN
in	IN
real	NN
estate	NN
development	NN
activities	NN
,	,
it	PRP
said	VBD
.	.
Those	DT
activities	NN
generated	NN
$	$
26.1	NN
million	CD
in	IN
operating	VBG
profit	NN
last	JJ
year	NN
.	.
But	CC
according	VBG
to	TO
Great	NN
American	JJ
,	,
such	JJ
profits	NN
do	VBP
n't	RB
count	NN
toward	NN
meeting	NN
the	DT
San	NN
Diego	NN
savings	NNS
bank	NN
's	POS
new	JJ
capitalization	NN
requirements	NN
under	IN
1989	CD
federal	JJ
law	NN
.	.
The	DT
new	JJ
real	NN
estate	NN
unit	NN
would	MD
have	VBP
a	DT
separate	JJ
capital	NN
structure	NN
to	TO
comply	NN
with	IN
the	DT
law	NN
.	.
The	DT
proposed	VBN
holding	VBG
company	NN
would	MD
also	RB
consolidate	NN
Great	NN
American	JJ
Bank	NNP
in	IN
San	NN
Diego	NN
and	CC
its	PRP$
Tucson	NN
,	,
Ariz.	NN
,	,
savings	NNS
bank	NN
into	IN
a	DT
single	JJ
,	,
federally	NN
chartered	NN
institution	NN
in	IN
San	NN
Diego	NN
.	.
The	DT
consolidation	NN
is	VBZ
expected	VBN
to	TO
save	NN
$	$
1	CD
million	CD
a	DT
year	NN
in	IN
administrative	JJ
costs	NNS
,	,
a	DT
Great	NN
American	JJ
spokesman	NN
said	VBD
.	.
Dale	NNP
Lang	NN
,	,
who	WP
this	DT
week	NN
completed	VBD
the	DT
acquisition	NN
of	IN
the	DT
publisher	NN
of	IN
Ms.	NN
and	CC
Sassy	NN
,	,
is	VBZ
candid	NN
about	IN
the	DT
challenge	NN
he	PRP
is	VBZ
taking	NN
on	IN
.	.
Mr.	NNP
Lang	NN
admits	NN
that	IN
Ms.	NN
is	VBZ
``	``
in	IN
dire	NN
straits	NN
''	''
and	CC
that	IN
Sassy	NN
needs	NN
big	JJ
promotional	NN
dollars	NNS
to	TO
keep	VB
it	PRP
alive	NN
.	.
But	CC
the	DT
57-year-old	NN
publisher	NN
has	VBZ
moved	VBN
quickly	RB
and	CC
boldly	NN
to	TO
deal	NN
with	IN
the	DT
magazines	NN
'	POS
problems	NNS
.	.
Last	JJ
Friday	NN
,	,
he	PRP
told	NN
the	DT
staff	NN
of	IN
Ms.	NN
that	IN
the	DT
magazine	NN
in	IN
January	NNP
would	MD
begin	VB
publishing	VBG
without	IN
advertising	NN
.	.
Mr.	NNP
Lang	NN
will	MD
do	VBP
away	RB
with	IN
expensive	NN
circulation	NN
drives	NNS
,	,
not	RB
to	TO
mention	NN
sales	NNS
staff	NN
,	,
and	CC
attempt	NN
to	TO
publish	NN
the	DT
17-year-old	NN
magazine	NN
supported	NN
by	IN
circulation	NN
revenue	NN
alone	NN
.	.
``	``
Any	DT
fool	NN
can	MD
publish	NN
a	DT
money-losing	NN
magazine	NN
.	.
I	PRP
want	VB
to	TO
publish	NN
one	CD
that	IN
succeeds	VBZ
,	,
''	''
said	VBD
Mr.	NNP
Lang	NN
.	.
``	``
For	IN
Ms.	NN
,	,
it	PRP
's	POS
time	NN
to	TO
publish	NN
for	IN
the	DT
reader	NN
,	,
not	RB
the	DT
advertiser	NN
.	.
''	''
As	IN
for	IN
Sassy	NN
,	,
which	WDT
competes	NN
directly	RB
with	IN
News	NNP
Corp.	NNP
's	POS
Seventeen	NN
magazine	NN
,	,
Mr.	NNP
Lang	NN
says	VBZ
that	IN
in	IN
the	DT
next	JJ
two	CD
years	NNS
he	PRP
will	MD
spend	NN
$	$
6	CD
million	CD
promoting	NN
and	CC
improving	NN
the	DT
magazine	NN
.	.
Though	NN
Sassy	NN
has	VBZ
grown	NN
quickly	RB
since	IN
its	PRP$
debut	NN
in	IN
March	NNP
1988	CD
,	,
it	PRP
has	VBZ
been	VBN
the	DT
target	NN
of	IN
conservative	NN
lobbyists	NN
and	CC
skittish	NN
advertisers	NNS
who	WP
bristled	NN
at	IN
its	PRP$
frank	NN
editorial	NN
matter	NN
on	IN
teen-age	NN
problems	NNS
.	.
Mr.	NNP
Lang	NN
said	VBD
the	DT
former	JJ
Australian	JJ
owners	NNS
of	IN
Sassy	NN
were	VBD
``	``
blind-sided	NN
by	IN
the	DT
Moral	NN
Majority	NN
...	:
.	.
Their	NN
reaction	NN
was	VBD
to	TO
do	VBP
nothing	NN
and	CC
ride	NN
it	PRP
out	IN
.	.
''	''
He	PRP
said	VBD
Sassy	NN
will	MD
keep	VB
its	PRP$
irreverent	NN
tone	NN
,	,
but	CC
added	VBD
,	,
``	``
We	PRP
will	MD
keep	VB
a	DT
close	VB
watch	NN
on	IN
the	DT
editorial	NN
content	NN
of	IN
the	DT
magazine	NN
.	.
''	''
Sassy	NN
already	RB
has	VBZ
recovered	NN
;	:
circulation	NN
has	VBZ
quickly	RB
passed	NN
the	DT
500,000	NN
mark	NN
and	CC
advertising	NN
pages	NNS
have	VBP
stabilized	NN
this	DT
year	NN
at	IN
more	RBR
than	IN
300	NN
.	.
What	WP
's	POS
more	RBR
,	,
Mr.	NNP
Lang	NN
says	VBZ
he	PRP
has	VBZ
what	WP
all	DT
publishers	NN
wish	NN
for	IN
:	:
a	DT
bona	NN
fide	NN
niche	NN
.	.
``	``
Seventeen	NN
is	VBZ
written	NN
more	RBR
for	IN
mothers	NN
,	,
not	RB
their	PRP$
daughters	NN
,	,
''	''
said	VBD
Mr.	NNP
Lang	NN
.	.
``	``
But	CC
Sassy	NN
has	VBZ
a	DT
different	JJ
spirit	NN
.	.
It	PRP
gets	NN
more	RBR
mail	NN
in	IN
a	DT
month	NN
than	IN
McCall	NN
's	POS
got	VBD
in	IN
a	DT
year	NN
,	,
and	CC
it	PRP
's	POS
not	RB
from	IN
mothers	NN
.	.
I	PRP
feel	NN
about	IN
Sassy	NN
like	IN
I	PRP
did	VBD
about	IN
Working	NN
Woman	NN
10	NN
years	NNS
ago	IN
.	.
''	''