November 22, 1982

A Company News item in Business Day Saturday incorrectly reported the terms under which Carl C. Icahn, a New York investor, is offering $16.50 a share for two million shares of the Dan River Company. The offer is not contingent on a move by Dan River to halt its litigation against Mr. Icahn's takeover bid.

International A crisis in Arab politics of revolutionary proportions has followed Israel's invasion of Lebanon. A tour of the Middle East indicates that Arabs are deeply humiliated over the lack of any concerted response by Arab governments to the invasion. (Page A1, Columns 3-5.) An effort to bolster Poland's economy has reached a crucial point. Political disturbances have cut factory and farm production and, in addition, without the money to meet payments on foreign debts of more than $24 billion Poland cannot afford to import vital machinery and raw materials from the West. (A1:1-2.)

In his World Trade Center office and by telephone from his home in Queens, Governor-elect Mario M. Cuomo is working intensively to form a government, interviewing job candidates, reorganizing the Governor's office and setting positions on major issues. He has taken personal control of important aspects of his transition to power. Aides say that his direct involvement in the transition to power may be an early sign of a significant difference between a Cuomo administration and that of Governor Carey. In the Governor's office under Mr. Carey, decisions were made through a rigid chain of command. In Mr. Cuomo's administration, he and aides say, the Governor's office will be less hierarchical and more aides will have direct access to the Governor.

A Company News item in Business Day on Nov. 11 incorrectly reported on two steel plant closings. Roblin Industries said its plants in Dunkirk and North Tonawanda, N.Y., would reopen Jan. 4.

Five years after he was convicted of heading ''the most venal drug ring'' in New York City and sentenced to life in prison without parole, Leroy (Nicky) Barnes has become a Federal informant, according to Federal law enforcement officials and Mr. Barnes's former lawyer. Mr. Barnes's cooperation, according to the officials, led to the indictments last month on narcotics charges of nine persons in Manhattan, including a woman who is said to have told an undercover agent that she was Mr. Barnes's common-law wife. According to an indictment, the woman, 33-year-old Thelma Grant, boasted that she had assumed control of Mr. Barnes's organization after he went to prison, and that she made about $26,000 every two days from heroin sales. 'Barnes Is Cooperating' ''We will confirm that Barnes is cooperating, but nothing beyond that,'' John S. Martin Jr., the United States Attorney for the Southern District of New York, said when asked to comment.