July 15, 1994

It may be one of the last big real estate deals in New York City, but to Henry Cheng, Riverside South, the multibillion-dollar joint venture that could transform Manhattan's largest buildable waterfront land into a community of 16 largely upscale apartment towers along with shops and parks, is just another development. "In Hong Kong, China, we've done bigger projects than this, much bigger," said Mr. Cheng, a man parsimonious with words. He and his father, Cheng Yu-tong, have built one of Hong Kong's biggest global property and project development conglomerates, with substantial holdings stretching across Asia and into the United States.

A former top trader at Salomon Brothers Inc. has agreed to pay a $1.1 million fine and accepted a permanent ban from the securities industry for his role in a 1991 Treasury bond auction scandal, the Securities and Exchange Commission announced today. Paul W. Mozer, the former head of Salomon's Government securities trading, has already served four months in jail on criminal charges stemming from the scandal. He agreed to the fine and ban in settling a civil lawsuit filed by the commission.

Larry Hogue, a symbol of New York State's failure to effectively treat mentally ill drug addicts, was apprehended yesterday at a bank in New Rochelle, just a day after he fled a state mental hospital where he had been held since September. Mr. Hogue walked off the grounds of the Creedmoor Psychiatric Center in Queens on the same morning that his doctors there met to discuss plans for releasing him to a supervised residence as early as next week, state officials said.

Most days the women and men who flow through the hallways of corporate New York look as if they are on the way to a rich man's funeral. Some call it the Wall Street look, or the Madison Avenue look, but what it really is, said people who suffer inside those proper clothes, is the stiff, hot look. They sweat into their summer wool suits and walk inside unbending shoes, ignoring comfort and common sense because convention, and their employers, expect them to dress up at work.

CBS and the Westinghouse Broadcasting Company agreed yesterday to a deal that would bring three stations owned by Westinghouse into the CBS affiliate lineup and create a partnership to purchase future stations, produce syndicated programming and sell local advertising time. The deal, the latest affiliate reshuffling at the broadcast networks, will significantly enhance CBS's group of affiliates. Coming just a day after the collapse of the proposed merger between CBS and QVC Inc., the deal represented what CBS executives called a welcome injection of good news for an embattled network.