May 7, 1995

NO less a social philosopher than Wilt Chamberlain, in the days when he literally stood head and shoulders above everyone else on the basketball court, put the matter succinctly: "No man roots for Goliath." In business, as in sports, giants often attract not only resentment and envy, but they also find themselves accused of competing unfairly. And those crying foul often call for change in the rules. The designated Goliath of the technological world is the Microsoft Corporation, a 20-year-old company cofounded by a Harvard dropout named Bill Gates, who has become the richest man in America, both feared and admired.

On the surface, few eras would seem to have less in common than the tie-dyed turmoil of the 1960's and the edgy, armed-to-the-teeth anger of the 1990's. But many historians who track the nation's mood swings say they detect an odd and striking inversion in which the anger, discontent and distrust of authority that erupted on the left in the 60's have become the signatures of the right 30 years later.

Sales began last week at Europa, a new luxury condominium building at 22 West 66th Street. The 26-story building near Central Park had sat vacant for almost a decade. It was started in 1981 by the late developer Herbert Handman, who planned to market it as small time-share condominiums.

EVER since Superior Court Judge Harry Hammer ruled in favor of the State of Connecticut last month, and against 17 plaintiffs in the landmark Sheff v. O'Neill desegregation lawsuit, the protests in Hartford have been reminding many black leaders of the civil rights struggle they endured three decades ago. And nearly a month after Gov. John G. Rowland broke out a bottle of champagne at a press conference to celebrate the ruling, the already outraged minority community is still vowing the Governor will someday regret it. He may already.

"This time, it's different." Those are, according to old Wall Street lore, the most expensive words an investor can ever hear. And they are the words being uttered by lots of market professionals when discussing dividend yields.