October 4, 2000

Oakland Athletics defeat New York Yankees, 5-3, in first game of American League division series; photo (M)

Union Electrica Fenosa SA, Spain's third-largest power company, is to invest $600 million to build and operate third power station in Mexico, bringing company's total capacity there to 1,500 megawatts and making it Mexico's leading private supplier of power (S)

American lawmakers and policy makers are taking hands-off approach to energy crisis and OPEC's moves instead of fighting market forces as they did in 1970's; in 1973, US Government responded to oil embargo by taking its already draconian system of price limits and other government controls on oil and gasoline and expanding it; much of that system was still in place six years later, during nation's second big oil crisis, which followed fall of shah of Iran; policy makers today are striving to work with market forces; in debate over Pres Clinton's decision to release 30 million barrels of oil from nation's Stratetgic Petroleum Reserve, critics--led by Gov George W Bush--derided move as improper intrusion of politics into marketplace; many policy makers have embraced idea that markets left to their own devices work better than government controls; graph; photos (M)

Mark David Chapman, who shot and killed John Lennon 20 years ago, is denied parole after 50-minute hearing at Attica state prison; Lennon's widow, Yoko Ono, had written to ask New York State Parole Board to keep Chapman in prison, saying that she and Lennon's children would live in fear if he was freed and that killer himself could be in danger if released; photo (M)

Hicks, Muse, Tate & Furst and Bears, Stears are having trouble financing their $2.9 billion takeover bid for Johns Manville; bankers say they expect Manville to report disappointing earnings for third quarter, making it tough to generate enthusiasm in capital markets to lend money to the buyout; it is likely terms of Manville acquisition will be reworked, with either reduction in $15.63 a share purchase price or increase in amount of cash that Hicks, Muse and Bear, Stearns will need to invest to get deal done (Market Place column) (M)