11.   But many companies and Wall Street deal makers have come to rely on pooling accounting because it allows merging companies to avoid expensive charges that reduce future earnings.

12.   But such a charge could also enable a company improperly to avoid a long-term drag on its earnings.

13.   But using shares from the corporate treasury lets the company avoid using cash, which can then be used to buy new computers or open a new factory.

14.   By announcing that she had resigned, the company probably avoided some embarrassment, because she was a popular employee, she said.

15.   By localizing production, the company can avoid dumping charges, take advantage of cheaper distribution costs and have easier access to raw materials, he said.

16.   By identifying and offering other directions, they show how companies can avoid these blocks and find smoother roads.

17.   By producing outside Japan, Japanese companies avoid incurring costs in an extremely strong currency while selling in weaker ones.

18.   By shuttling workers among companies in a conglomerate and by reducing payrolls through attrition and retirements, Japanese companies avoided outright layoffs.

19.   By using enzymes in detergents and other cleaning products, companies can avoid using chemicals that harm the environment.

20.   By forming their own exchange, the five companies avoid such fees.