March 18, 1987

LEAD: FROM its historical status as Santa Anna's Alamo-era camp to its present-day stature as a bastion for bucks, luxe and tuxes, the site of the new Fairmount Hotel is a fitting monument to the recent revolution in the Texas hotel industry. Both a product and a victim of the oil boom, luxurious hotels were built throughout Texas in the late 1970's and early 80's by oil-rich, property-rich and cattle-rich Texas families that wanted to diversify.

LEAD: The Fairchild Semiconductor Corporation announced a management-backed buyout proposal today that would create several ''alliances'' with Fujitsu Ltd., but skirt the political controversy that curtailed Fairchild's sale to the Japanese company.

LEAD: ''The secret to retirement is to keep working.'' - Elizabeth Hall (not Yogi Berra), an 89-year-old horticulturalist, who has failed miserably in repeated attempts to retire.

LEAD: SHE is heard before she is even seen, but although the words are those of Lady Macbeth, the accent is a fractured Polish that immediately sends a wave of laughter rippling through the audience. When Anka does appear, backing onstage in sweatsocks and a voluminous nightgown, she is holding her hands out and moaning, ''Out, damned spot!

LEAD: The Reagan Administration will consider policies to block foreign takeovers of companies in security-sensitive industries, officials said today.