May 11, 2002

Turmoil worsens in deregulated electricity industry after Reliant Resources, big independent power producer and trader, cancels $500 million bond sale amid questions about whether all of its trades are real; Reliant discloses it bought power from another company while simultaneously selling same amount back to that company, move that increased its reported trading volume, key measure of company's health; shares in big independent power producers and traders skid after announcement, worsening year-long slump; photo (M)

Chief Judge Claude M Hilton sentences former FBI agent Robert Hanssen to life in prison for spying for Russia during and after cold war; Hanssen apologizes for betraying his country and family; many of government's top counterintelligence experts still believe he has not told them whole truth (M)

US Airways says it will seek federal loan guarantee and may file for bankruptcy protection if it does not get one; carrier, nation's sixth-largest, would be biggest test case to date of how government handles loan guarantee process and how airlines will try to use leverage from such applications to bring down labor costs; chief executive David N Siegel cites need for workers and vendors to quickly agree to new business plan to win guarantee, letter to employees; stock-price graph; photos (M)

William C Rhoden Sports of The Times column holds that performance of Detroit Pistons player Ben Wallace is proof that hard work and persistence can lead to success in sports; photo (M)

Individuals who symbolized bravery and heroism during September 11 terrorist attacks are in high demand as college commencement speakers; include former New York City Mayor Rudolph Giuliani, former police commissioner, Bernard B Kerik and former fire commissioner Thomas Von Essen (M)