1.   Analysts questioned whether the PeopleSoft-Vantive merger will lead to a dramatic reversal of fortunes.

2.   Analysts have long speculated the merger would lead to cutbacks at some Time Warner holdings.

3.   A great economy leads to mergers, and mergers lead to layoffs.

4.   A merger also would lead to several thousand job cuts in Switzerland, analysts and investors said.

5.   But as the mergers lead to ever more consolidation, the public should demand that its interest be served.

6.   But shippers worry that even that merger could lead to the closing of some lines or loss of competition in several regions.

7.   Ever since Grumman Corp. agreed to be taken over by Northrop Corp. in April, employees here knew the merger would lead to layoffs.

8.   He predicted that mergers will lead to big job cuts as the merged firms consolidate their operations.

9.   However, Bonnie Chaikind, a spokeswoman for Chevron, would not say the merger will lead to lower gas prices.

10.   In particular, they said, the merger could eventually lead to the dismantling of the system of tariffs that governs long-distance rates between the United States and Britain.