W. Schachermayer showed that even 1-complemented subspaces of Banach s
paces with property alpha can fail this property. However, we prove in
this paper that spaces with property alpha satisfy an hereditary prop
erty. We obtain, as a consequence, that spaces with properties alpha a
nd (H) cannot be reflexive and, therefore, these spaces should contain
almost isometric copies of spaces of l(1)(+)-type. Further geometrica
l results on Banach spaces with both properties are also obtained. (C)
1996 Academic Press, Inc.