March 11, 1985

''In view of the projected developments, in which I cannot possibly participate, as of today I terminate my services as President of the Republic, resigning from the rest of my term.'' - Constantine Caramanlis of Greece. (A1:6.)

Just south of the Brooklyn Bridge, hard by the Fulton Fish Market, a vast red steel-and- glass pavilion is rising on a newly rebuilt Pier 17. The pavilion, built at a cost of more than $45 million in public and private funds, is the largest structure in the South Street Seaport development. But as crews rush to finish construction by July, community groups are charging that they were misled by the private developer and a city agency and that despite promises of open public space, the project is little more than a shopping mall. When the three-story pavilion opens later this year, it will house about 120 stores, restaurants and cafes, many with a dramatic view of the Brooklyn Bridge and the harbor.

Doug Flutie put on his kind of show today. The best part came in the final period of the first home game of the season for the Generals before the largest crowd this team had ever attracted to Giants Stadium. Flutie did a little bit of everything as the Generals overcame a 10-point deficit and defeated the Los Angeles Express, 35-24. The 58,741 spectators were ecstatic and a cheer new to Giants Stadium, ''F-L-O-O-T-I-E,'' came forth.

Not long ago, the Langley Air Force Base outside Norfolk, Va., resolved to cut its long-distance phone bill. So telecommunications experts at the base began planning to have a microwave radio system installed to link the base directly to its long-distance carrier, the American Telephone and Telegraph Company. That was bad news for the Chesapeake and Potomac Telephone Company of Virginia. For years, Chesapeake and Potomac had provided the base with local phone service, including access to long distance. Now, the military was proposing to bypass Chesapeake and Potomac, depriving the phone company of nearly $1 million a year in long- distance connection charges. The result was surprising. Rather than lose Langley's business entirely to a bypass company, Chesapeake and Potomac decided to enter the bypass business itself. It won a contract to build the link to A.T.&T. that the Air Force desired. The Air Force now leases that link from Chesapeake and Potomac.

He was built all wrong, with spindly ankles and thin calves that would never be able to support the heavyweight bulk above, except the bulk was hollow. It had no heart. He was a frightened boxer - the word often used was ''yellow'' - whom people remembered as trying to crawl out of the ring against Duane Bobick in an amateur bout in 1972. For seven years, Larry Holmes had this reputation. Seven years of famine, sleeping in the same cheap hotel rooms with his manager and trainer, Richie Giachetti. Seven years of sparring with Muhammad Ali, Joe Frazier and Earnie Shavers while fighting for the small bucks, with the detractors saying it was a waste of time. Gil Clancy suggested he should go back to driving a truck.