11.   According to Bruce Guptill, research director for Gartner Group, the spinoff is a major reason for the sharp fall in CompuServe shares.

12.   After a breakfast meeting with his former boss, Lehman research director Bernard Picchi, Kroll returned to Lehman, executives at the firm said.

13.   But Jack Martin, research director at the Center for Immigration Studies, believes immigration policies cannot remain static.

14.   But Kung, research director at a company called Abiomed, will be happy if someone gets about five years out of his device.

15.   But politics is exactly what Salmon was practicing, said Eric Lotke, research director of the National Center on Institutions and Alternatives in Virginia.

16.   But Pozen has also reorganized the research department, whose research director, William R. Ebsworth, is now focused on domestic fundamental research.

17.   But the research director of another major Wall Street firm dismissed the idea, saying it might sound like reform but would be difficult to put into practice.

18.   Chuck Hill, research director at First Call, said some analysts already are revising their second-quarter estimates for Dole, which will report sometime in July.

19.   Chuck Hill, research director with First Call, agrees that accounting changes will depress earnings.

20.   Chuck Hill, research director with First Call, says analysts have been unusually slow to reduce their earnings estimates in the wake of the terrorist attacks.