November 6, 1996

Russian Pres Boris Yeltsin undergoes seven-hour, multiple-bypass heart operation in Moscow which doctors declare success; surgeons sew five grafts to restore blood flow to coronary arteries, blocked by fatty deposits of atheriosclerosis; are optimistic about Yeltsin's chances of resuming full workload; Yeltsin reported in stable condition in intensive care unit; signed decree prior to operation reassuming presidential powers, delegated hours before to Prime Min Viktor S Chernomyrdin; diagram (M)

Analysis holds that while faltering economy persuaded American voters to elect Bill Clinton President in 1992, robust economy in 1996 persuaded them re-elect him to second term; Bob Dole's failed strategy of assailing Clinton's character and ethical standards underscores strategic reality that Presidents, even those mistrusted by electorate, are unlikely to be cast from office in times of peace and prosperity (M)

Corporate America, after a decade of re-engineering and downsizing, much of it undertaken to reduce costs, has moved to new target: billions it spends on goods and services, especially as companies shift more tasks to outside suppliers; businesses are hiring new breed of purchasing professionals to tackle those expenses; well-paid specialists, many with graduate degrees, are replacing purchasing agents of old, who generally were high school graduates accustomed to being told what to buy and from whom to buy it; companies that have saved money by hiring purchasing professionals include Nynex, Thermo King division of Westinghouse Electric, Owens Corning, Riverwood International Corp, Electronic Data Systems Corp and Ford Motor Co; photo (L)

Interview with Dick Grace, whose Grace Family Vineyards makes scare and much-admired cabernet sauvignon; photo (M)

Traders Bet on Continuity And Markets Rise Strongly The Republicans have controlled Congress for two years, the Democrats have held the White House for four and the bulls have ruled Wall Street for six. On Election Day, traders breathed a sigh of relief, as anticipation of a continuation of the political status quo spurred hope that the stock market status quo could roll on, too. Technology stocks, which had been moribund for weeks after many companies reported lackluster profits, rebounded strongly, further aiding the rally.