June 27, 1999

Edward Wyatt (Market Watch) column on next month's decision by National Association of Securities Dealers to consider issuing Nasdaq Stock Market stock to some of 6,000 brokerage firms that make up the association and 5,000 companies whose stocks are traded there; says Nasdaq shares may later be traded to public; says stock could be one of most intriguing investment opportunities of next decade; graph (M)

Profile of Enron Corp's management style under its president, Jeffrey K Skilling; best description of policy is: loose and tight; loose in the sense that it encourages people at Enron to develop new ideas, tight, from the standpoint that these people are evaluated on their performance; since 1990, Enron has gone outside traditional pool of engineers and hired hundreds of M.B.A.'s as well as occasional liberal arts majors; some of Enron's new entrepreneurs include Lynda Clemmons, who developed $1 billion business that allows companies to buy hedges against weather extremes, Thomas Gros, who is setting up system to let companies trade their excess telecommunications capacity, and David Cox, who established $4 bilion business writing contracts that help paper users hedge against fluctuating prices; photos; chart (L)

Hillary Rodham Clinton is fighting efforts by mostly New York-based bank and credit card industries to amend consumer bankruptcy law in way she holds is unfair to women and children, move that could lead industries to donate generously to her opponent in likely New York Senate race; Democrats are divided on bill, which has passed House by veto-proof majority; critics complain bill would give lenders equal status with alimony and child support claims, forcing women to compete with collection agencies to retrieve money from bankrupt former spouse; photo (M)

River Place, rental and retail project, begins to rise on full block of West 42d Street at Hudson River, a full 15 years after the developer, Larry Silverstein, acquired the property; drawing (S)

Richard Traubner article on returning to Vienna, Austria, which is paying tribute to Austrian dynasty, commemorating 150th anniversary of death of Johann Strauss Sr and 100th of Johann Strauss Jr; notes that Strauss Jr is now seen as world's first pop music idol; photos (M)