(Cohen 1999) Although many observers would view this as an extreme step it could reduce costs and allow increased efficiencies.
( ( -LRB- ( Cohen ( 1999 -RRB- ) ) ) ( ( Although ( ( many observers ) ( would ( view ( this ( as ( an ( extreme step ) ) ) ) ) ) ) ) ( it ( ( could ( ( ( reduce costs ) and ) ( allow ( increased efficiencies ) ) ) ) . ) ) ) )
(ROOT (S (NP (-LRB- -LRB-) (NNP Cohen) (NNP 1999) (-RRB- -RRB-)) (SBAR (IN Although) (S (NP (JJ many) (NNS observers)) (VP (MD would) (VP (VB view) (NP (NP (DT this)) (PP (IN as) (NP (DT an) (JJ extreme) (NN step)))))))) (NP (PRP it)) (VP (MD could) (VP (VP (VB reduce) (NP (NNS costs))) (CC and) (VP (VB allow) (NP (VBN increased) (NNS efficiencies))))) (. .)))
Many observers view it an extreme step to lower costs and increase efficiencies. 
( ( Many observers ) ( ( view ( it ( ( an ( extreme step ) ) ( to ( ( ( lower costs ) and ) ( increase efficiencies ) ) ) ) ) ) . ) )
(ROOT (S (NP (JJ Many) (NNS observers)) (VP (VBP view) (S (NP (PRP it)) (NP (NP (DT an) (JJ extreme) (NN step)) (PP (TO to) (NP (NP (JJR lower) (NNS costs)) (CC and) (NP (NN increase) (NNS efficiencies))))))) (. .)))