The restructuring announcement, which came after a round of meetings over the long holiday weekend, did not reassure Wall Street.

The company's latest restructuring announcement contained hints that business remained weak.

In the last three days, the company's stock rose from $35.75, to $37.875, because of an improving market and in anticipation of the restructuring announcement, analysts said.

The market value of the preferred shares plunged after the restructuring announcement and suspension of dividends.

The restructuring announcement did not reassure Wall Street.

The first to be inaugurated was ADOC, along the restructuring announcement.

"Until his void is filled, I don't expect any major restructuring announcements," she said.

The restructuring announcement was somewhat troubling to people in the Westchester real estate business.

While the restructuring announcement caused them embarrassment, the charge makes it much easier for the company to achieve its fiscal 1997 earnings targets.

Still, the restructuring announcement hinted that big changes might be in store.