21.   Broadview advises clients to outline expectations up front so that there is no confusion about what roles the top employees will be playing in the new entity.

22.   But analysts said that to succeed the new entity must be profitable.

23.   But Braun acknowledged that the new entity needed to convince suppliers of shows that it would not limit their ideas to finding a place on ABC.

24.   But company executives argued that the new entity would have no monopolies in the industry.

25.   But critics said the report did not make clear how a new public entity created to handle infrastructure would pay for improvements.

26.   But state officials oppose the idea, saying the new entities would be exempt from most state insurance standards.

27.   But some FTC staff attorneys and consumer advocates contend the merger would be anticompetitive and allow the new entity to raise prices with impunity.

28.   But the owner used a loophole in the law and reincorporated as a new entity.

29.   But the new entity will retain the name BankBoston Corp. for its Latin American operations.

30.   But the power of this new entity is exciting to me.