August 17, 1999

Analysis of Clintons' finances shows First Family can still afford house in million-dollar or more price range, despite legal bills totaling $5.5 million that far exceed their assets of about $1.5 million; Clintons, who have not owned their own home since 1983, are weighing bids on Westchester County, NY, properties as precursor to First Lady's probable run for US Senate seat from New York in 2000; concerned administrators of Clinton Legal Expense Trust Fund are making appeals for donations to erase debt before he leaves office; friends and supporters say Clintons seem to be leaning toward making offer and applying for 'super-jumbo mortgage,' which banks and mortgage brokers seem likely to approve; Clinton's strong potential to earn millions of dollars from book deals, speaking engagements and, possibly, serving on corporate boards like some former Presidents noted; he could become family's predominant bread-winner for first time since early 1980's; if wife wins election to Senate, annual salary will be $129,619, or 35 percent less than his $200,000 annual income; James Carville, close friend and political strategist, says book advance alone will be enough for President to pay off balance on large mortgage (M)

Giant robot spacecraft called Cassini is to streak past Earth tonight on its way to Saturn, culminating a circuitous, two-year journey through inner solar system designed to send it on its way; journey, which has already involved two trips around Venus before the Earth swing, is like extremely long windup of a celestial baseball pitcher before throwing curve ball 2 billion miles; spacecraft, powered by nuclear energy and condemned by some environmentalists and antinuclear activists as threat to public, is to zoom past Earth at 42,000 miles per hour and use planet's gravity to hurl it off into deep space toward a rendezvous with Saturn in 2004; drawings (L)

Commercial Internet Deals For College Sites Criticized More than 500 colleges and universities have made deals with commercial companies to run campus Web sites and electronic mail services. As a result, students who want to check course outlines or send E-mail will become an audience for advertisers. The move has set off a debate over the intrusion of advertising into the educational part of the Internet. [Page A1.] Tax Liability Gives U.P.S. a Loss United Parcel Service revised its second-quarter earnings to reflect a $1.4 billion charge to cover its potential liability from last week's court decision that it had inflated its income tax deductions. As a result, U.P.S. had a net loss of $854 million in the quarter instead of net income of $588 million reported last month. [C2.] Time Warner Names Music Chief Time Warner named Roger Ames, the former president of the Polygram Music Group, as chairman and chief executive of the Warner Music Group, which has had management shake-ups and declining market share. [C2.] David Bohrman, the executive vice president of the financial news network CNNfn, a unit of Time Warner, was dismissed. [C9.] A $2.5 Billion Deal for Nielsen VNU, the Dutch publisher, plans to acquire Nielsen Media Research, the largest television audience measuring company in the United States, for $2.5 billion. [C8.] Venator Group Chief to Step Down Roger N. Farah said he would step down immediately as chief executive of Venator Group, the former Woolworth. Its president, Dale W. Hilpert, will succeed him. [C5.] A Shift in France's Bank Battle The focus of the five-month takeover battle involving three of France's biggest banks shifted to the Government after shareholder votes left none of the three a clear winner. [C4.] Stocks Rise in Light Trading Stock prices edged up in sluggish trading. The Dow Jones industrial average rose 73.14 points, to 11,046.79. The Standard & Poor's 500-stock index climbed 3.09 points, to 1,330.77, and the Nasdaq composite index gained 7.47 points, to 2,645.28. [C9.] Toys 'R' Us Profit Falls 25% Toys ''R'' Us said its second-quarter profit had fallen 25 percent, to $12 million, or 5 cents a share, because of costs to develop its Internet division. Shares of Toys ''R'' Us rose 62.5 cents, to $15.8125. The company said sales at its United States stores that have been open at least a year rose 4 percent from the quarter a year earlier. [C20.] A Breakup Plan for Daewoo Group In an unusual breakup plan, creditors of South Korea's Daewoo Group will sell six of the heavily indebted company's 25 subsidiaries. [C4.] Ouster at Waste Management Waste Management said that it had ousted its No. 2 executive, Rodney R. Proto, and that it would sell some assets. [C20.]

Danny Bensusan, owner of Blue Note jazz club in Greenwich Village, and blues musician B B King are planning to open B B King's Blues Room, 550-seat club that will present blues, rock and jazz musicians in E Walk entertainment complex on north side of 42d St near Eighth Avenue; club, scheduled to open in mid-December, will also have separate bar and restaurant, named Lucille's Cafe; photo (M)

Placement of advertisements on college Web pages or E-mail services, regarded by many as purest area of Internet, sparks debate over decisions by many universities allowing companies to do so; some educators express alarm over what they regard as crass commercial intrusion, while administrators and others say they have little choice because of financial constraints; more than 500 institutions have signed up commercial companies to run campus Web sites and E-mail services; such deals are becoming more attractive as campuses struggle with costs of technology and constant need to upgrade it; photo (M)