June 21, 2002

Board of Schneider Electric is scheduled to meet to decide whether to enter into exclusive negotiations to sell its Legrand unit to Wendel Investissement, French conglomerate, and Kohlberg Kravis Roberts (S)

Uruguay Government announces that it will allow country's currency, peso, to float freely against American dollar, in effort to soften blow of deepening regional economic crisis; policy change immediately unleashes heavy demand for dollars; photo of Economy Min Alberto Bension (M)

Manhattanites Hazel and John Kelly's comment on choosing 1800's Catskills farmhouse without electricity, indoor plumbing or other amenities as weekend home; photo (M)

A New York City firefighter whose lungs were injured during recovery efforts at the World Trade Center site announced his candidacy for Congress yesterday. But he did so in Manhattan -- about 35 miles and three counties away from his Suffolk home and the Second Congressional District that he seeks to represent. The candidate, Joe Finley, chose to make his announcement at his firehouse at 234 East 29th Street, near Second Avenue, which lost nine men in the September terror attacks.

Supreme Court, 5-4, upholds states' authority to protect rights of patients in disputes with managed care companies over denial of recommended treatments; such protection, guaranteeing outside review of health plan decisions, is centerpiece of federal patients' rights bill that has passed both houses of Congress in different versions but remains stalled there; patient advocates warn ruling still does not eliminate need for Congressional action because state laws exclude millions of people; Court upholds Illinois law under which Debra Moran sought independent review of Rush Prudential's refusal to approve special surgery for shoulder injury (M)

Securities and Exchange Commission proposes setting up accounting oversight board that could bar accountants from auditing public companies if it finds that they have been unethical or imcompetent; proposal is effort by SEC Chairman Harvey L Pitt to seize initiative as members of Congress and private business groups develop plans to improve financial disclosures and corporate governance; critics contend Pitt has moved too slowly, while supporters argue that he has taken time to develop appropriate set of regulatory changes; SEC proposal detailed; photo (M)

Siam Cement, Thailand's largest industrial group, and NTS Steel Group plan to combine their construction-steel units into venture that will have more than half of country's steel-production capacity (S)

Sports of The Times article on soccer referees, lonely sports officials with no access to instant replay and little practical ability to stop the action; job's problems are illustrated by incidents at World Cup, as when Argentina's Angel Sanchez was swarmed by gang of Portuguese players while player Joao Pinto punched him in back; FIFA president Joseph S Blatter also delivered low blow in saying that Byron Moreno's call against Francesco Totti of Italy should not have been yellow card, which led to ejection; that call of diving, feigning contact to draw a penalty, left Italy one player short in final stages of South Korea's stunning 2-1 comeback victory; photo (M)

Budget accord between Mayor Michael Bloomberg and New York City Council to close $5-billion deficit staves off many of most difficult cuts, but relies on battery of revenue sources that will not be available in next few years as gaps widen; fiscal watchdogs warn too much of hard work lies ahead; city is using one-time infusion of $275 million in state aid to pay for new teachers' contract, refinancing debt with current low interest rates and, in one of more baroque maneuvers, is selling one of giant water tunnels for $100 million to private owner who will be allowed to count depreciation as tax write-off; borrowing to pay operating expenses will also require future taxpayers to pay off loans (M)

THE C.I.A., which is not what you think but rather an obscure group called Columnists Incorporated in America, was delighted to hear this week that Amy Fisher is about to join the ranks. Starting in early July, the Long Island Lolita will try her hand as the Northern State Nabokov. She will write a column for The New Island Ear, a free newspaper on Long Island that came into being a month ago.

City parks officials said yesterday that a federal lawsuit claiming the Parks and Recreation Department has a pattern of racial discrimination was invalid, because the department had revamped its hiring practices. The suit, filed this week, says blacks and Latinos are ''significantly underrepresented'' in the upper ranks. But a department spokeswoman, Jane Rudolph, said more minority candidates had been promoted to managerial jobs in recent years.

New York Mets defeat Minnesota Twins, 3-2; photos (M)