October 18, 2002

This American remake of a famous Japanese suspense film is about an urban legend that has come to life: whenever a mysterious, unlabeled videotape is run, its unlucky viewer gets a phone call just after seeing it. The voice on the other end of the phone says simply, "Seven days." It's how long the viewer has to live, and the corpse looks like something out of a Francis Bacon daydream. When her niece dies after seeing the videotape, Rachel (Naomi Watts), a Seattle reporter, decides to investigate the rumors. She watches the freakout tape, complete with suffering animals and static-ridden flash cuts. Much of what follows consists of closeups of the clues that Rachel, desperate to stay alive, sifts through to solve the mystery. But while impressively made, this impassive and cold feature fails, in a spectacular fashion, to deliver the thrills. — Elvis Mitchell

Dave Anderson Sports of The Times column discusses New York Giants Historical Society, which keeps memory of New York baseball Giants, now San Francisco Giants, alive and well in anticipation of World Series; photo (M)

Sears, Roebuck says its credit division has suffered unexpected losses from delinquent cardholders that will depress earnings for rest of year; says earnings for third quarter will be higher than last year but still 26 percent below company's prediction made in early October; most of credit trouble seems to be rooted in Gold MasterCard programthat Sears began offering two years ago; chairman Alan J Lacy comments; photo (M)

Mayor Michael Bloomberg administration has quietly set up 18 new homeless shelters across city for more than 1,200 families resulting in protests from neighbors and their political leaders; residents complain that shelters were opened with no notice and litle chance for public hearings; City Councilman James E Davis has introduced bill requiring agency for homeless to give local public officials 60 days' notice before building or acquiring shelter; many homeowners and other residents near new shelters say their quiet streets have been ruffled by annoying incivilities; other homeowners and residents say black and Hispanic areas are being singled out for shelters; map (M)

Accident investigators find that AirTrain that derailed in September near Kennedy International Airport, killing driver Kelvin DeBourgh, ran off tracks because it was traveling too fast on downhill curve not intended to handle trains at that speed; investigators say speed regulator was intentionally disabled for test, and that train could not have remained on such inclined curve at speed of 55 to 58 miles per hour, which onboard recording deviced recovered by National Transportation Safety Board showed it was traveling at time of accident; many questions remain, among them whether Bombardier Transportation, company that built and was testing train, called for it to be traveling that fast at that section of track, and whether operator DeBourgh, alone in train, was exceeding speed specified in test; federal investigator says test called for such high speeds in curve area, where they were not safe, and that test itself was poorly planned; Port Authority of New York and New Jersey officials cannot confirm that finding and will not discuss issues relating to accident; photo (M)

Judge Frank Bell throws out murder convictions of two teenager borthers in bludgeoning death of their father, saying prosecution's 'unusual and bizarre' decision to try another man in the killing before the boys' trial violated their rights to due process; Bell presided at both trials in Pensacola, Fla; Alex King, 13, and Derek King, 14, confessed to killing Terry King, but later blamed family friend Ricky Chavis, an adult with whom Alex said he had sexual relationship; prosecutors tried Chavis, based on boys' accusation, then tried boys based on their confession; Chavis's acquittal was not disclosed until boys' verdict was read; Bell claims prosecution presented two theories about crime, with no clear indication of who it believes committed killing; orders prosecution and defense to try to resolve case in mediation, saying he will order new trial only if they could not do so and prosecutors do not win appeal; legal experts have said since start of cases that state attorney's office was on shaky ground with its duel prosecution strategy (M)

MyTravel warns for third time in five months that its profit will fall short of its forecast, setting off 62 percent decline in its shares; graph (S)1

Floyd Norris column on financially-plagued Intel Corp focuses on spending too much; says argue for spending was that Intel would be that much better positioned when economic recovery arrived and would be able to seize market share; says it has gained some market share,but that has not done anything for profits; says Intel's dominant market position and financial strength have made it possible for it to keep investing longer than it should have; contends it is starting to deal with need to cut costs, which is good sign for investors, but it needs to do more; graph (M)

Members of the early-music vocal ensemble Anonymous 4 rehearse for their Sunday concert in Manhattan, ''La Bele Marie: Songs to the Virgin From Medieval France.'' It is based on venerations of Mary couched in the courtly tradition of Northern French poet-musicians. An article by Allan Kozinn, Page 4.

Vatican is concerned that American bishops went too far in devising their policy on punishing sexually abusive priests; is said to have reservations about aspects of bishops' zero-tolerance policy, which mandates removal from active ministry of any priest who sexually abuses child, including its lack of statute of limitations and its broad definition of child sexual abuse; believes policy may lead to removal of some priests without due process; also has qualms about policy's requirement that American bishops report all sexual abuse claims to police; American church leaders have sought Vatican's endorsement of bishops' policy; it is not clear whether Vatican will state its qualms firmly enough to prompt American bishops who have already instituted zero-tolerance policy to abandon it; some prominent American church leaders express confidence that Vatican will state its position but allow them to pursue their policy on experimental basis; photo (M)

Leaders of the manhunt for the sniper in the Washington area had to discredit a crucial witness to the latest killing on Monday night, saying the witness proved to be fabricating a tale.

Dow Jones industrial average rose 3.2 percent, to close at 8,275.04; Standard & Poor's 500-stock index gains 19.18 points, or 2.2 percent, to 879.20; Nasdaq composite index rises 39.87 points, or 3.2 percent, to 1,272.29; US Treasury bonds continue their slide; yield on 10-year note is at 4.20 percent in late trading, up from 4.05 percent; price falls 1 8/32, to 101 12/32; yield on two-year note is at 2.15 percent, up from 2.01 percent; graphs; charts (M)