October 25, 2003

Lack of enforcement of detailed set of rules governing Staten Island ferry may have contributed to ferry accident that killed 10 people when one of biggest boats hit pier at full speed; safety records and interviews reveal limited oversight of operations; accident could lead to major changes in ferry operations; New York City may take lead from Washington State, only ferry system larger than New York City's, where ferries use satellite navigation devices to help determine speed, count of passengers is kept and emergency procedure announcements are made regularly; photos (M)

Rouge Steel, nation's fifth-largest steel producer, files for Chapter 11 bankruptcy protection and agrees to be acquired by OAO Severstal, Russia's second-largest steel producer; photo (M)

Mayor Michael R Bloomberg contributes $2 million to Committee to Empower All New Yorkers, group he formed to support ballot proposal to end partisan primaries in city; is group's only donor; move draws anger of Democrats, Working Families Party and unions fighting proposal; mayoral aides say unions and political parties are all spending their members money to overturn initiative; photo (M)

SEC official reports uncovering of widespread improper trading of mutual fund shares at nation's largest fund companies and brokerage firms; says half of 88 companies questioned by SEC reported having arrangements with one or more investors allowing them to trade in and out of shares; says many fund companies appear to have provided information about their holdings to big investors, like hedge funds, who could profit on strength of that information; says handful of brokerage firms also allowed certain customers to make late-day trades in fund shares, possibly enabling them to profit from overnight price movements by allowing them to buy at price before market closed; expresses surprise at findings and promises fast action against companies (M)

With nine candidates vying for Democratic presidential nomination, none of aspirants are getting significant airtime or attention in frequent debates; critics suggest candidates running behind should drop out, but none of aspirants are willing at this time to take that step; Senator John Kerry contends that shrill, confrontational aspirants often get more attention in debates than serious candidates Senator John Edwards holds eliminating some of lesser candidates from some of debates could prove to be controversial and counterproductive; photo (M)