January 27, 1992

The Compaq Computer Corporation on Monday will introduce the first computers of its Eckhard Pfeiffer era -- two notebook models with several new features and retail prices ranging from $2,900 to $4,600. After Mr. Pfeiffer took over as chief executive on Oct. 24, he vowed that Compaq would price its machines closer to the thriving clone makers like the Dell Computer Corporation of Austin, Tex. And the two notebook models appear to blend Compaq's emphasis on new technology with a lower price. Dell and other rivals gained ground on Compaq last year and forced the company into abrupt and sweeping changes.

Evie Wollman, 76 years old, was in the furniture department on the ninth floor of Macy's Herald Square store yesterday. "I would like to buy a couple of chairs," she said, adding, in a note of potential impulse that is sweet music to retailers everywhere, "and maybe some sheets." As newspapers and radio and television stations reported that bankruptcy proceedings to protect R. H. Macy & Company from its creditors were imminent, Mrs. Wollman -- "nee Bender," she said -- had come from the Bronx to go shopping with her friend, Ida Rubinstein. And though their trip to 34th Street could not be described as a pilgrimage exactly, both women had memories of the store that recalled better days.

The first major phase of what has been called the most sweeping anti-discrimination law since the Civil Rights Act of 1964 began yesterday, requiring businesses to give equal access to millions of disabled Americans. The public accommodations provisions of the law, the Americans with Disabilities Act, mean more than merely providing adequate parking spaces or ramps for the handicapped.

After two years of reduced travel, Americans are on the move again, producing an unexpected spurt in bookings for cruise ships, hotels and airlines in recent weeks. Trans-Atlantic flights are on the rise, travel industry executives say, and tour operators, who just a month ago were bemoaning a slowdown in bookings for Hawaii, now report an upsurge of fresh business. Airlines that until recently were unsure whether to add flights to Florida and other warm-weather destinations now say they will, and so far this month almost 1,400 flight attendants have been recalled -- the largest number since May 1990.

The Drama at Macy's R. H. Macy's lawyers and investment bankers worked to assemble the financing package that the retailer needs if it files for bankruptcy protection, as expected. The arrangements were expected to be completed by today, and several participants reiterated their belief that a filing was imminent. If a filing is made, a judge will settle the fate of lenders, bondholders, suppliers and the company itself, but the stores will operate as usual. [ Page D1. ] What went wrong at Macy's? The problems of the retailer, like those of many companies in bankruptcy, stem from the billions of dollars borrowed to enable its managers to buy the company from stockholders. News Analysis. [ A1. ] Tremors emanating from the shaky foundation of Macy's parent company are being felt by shoppers on 34th Street. [ D1. ] Companies