April 28, 2004

Continuing boom in housing fuels retail revolution in Brooklyn with large stores opening along its East River waterfront; home furnishers and hardware giants fill unmet consumer demand in areas formerly occupied by industry; some longtime residents see megastores as disruptive force to small businesses and small streets, while others welcome amenities and jobs they bring; Loew's hardware store in Gowanus section has encountered little opposition since it serves largely local consumers; planned Ikea store in nearby Red Hook, however, is seen as destination retail experience and faces challenges from middle-class, mostly white, residents who have revived area; photos (L)

World Business Briefing: Canada: Altering Sto8

Article on financial woes besetting Long Island Philharmonic, which is marking its 25th anniversary amid canceled concerts, missed payrolls and $250,000 deficit; photo (M)

Article on Be My Baby, forthcoming edition of ABC newsmagazine 20/20, hourlong special about open adoption that is being aggressively promoted as ultimate reality show; photo (M)

Heavily armed assailants detonate bomb near cluster of foreign embassies in Damascus, setting off intense gun battle with Syrian security forces; officials blame 'terrorist and sabotage group,' linking attacks to those in other Arab capitals; one officer and woman passing by are reported killed, as well as two attackers; weapons cache is found in raid in upscale Mazza district; photo of damage to building housing UN office; map (M)

General Motors Corp has not had banner year based on recalls of its vehicles; company has recalled more than 7.5 million vehicles in less than four months; among them are some of GM's staple products; company executives say recent recalls do not reflect quality problems with products so much as more aggressive approach to potential problems; chief financial officer John M Devine; chart; photos (Market Place column) (M)

Lamakers from major farm states, shaken by preliminary World Trade Organization ruling against government's multibillion-dollar subsidies to cotton industry, warn that action could deal severe blow to agribusinesses and farmers nationwide; Sen Kent Conrad says ruling has potential to have extraordinary consequences up and down every main street in rural America; ruling calls into question 2002 farm bill, which increased subsidies to $19 billion per year for country's biggest farmers who grow commodity crops like cotton, corn, rice, wheat and soybeans; US said such direct payments do not distort world trade; Brazil successfully argued that because they were underwritten by taxpayer money, American farms grow more crops that flooded world markets, brought down world commodity prices and undercut farmers in Brazil; Bush administration says it will not make any unilateral concessions but instead will work with Congress and agricultural sector to defend United States' farm interests (M)

Smarty Jones will be only undefeated colt to run in Kentucky Derby field of 20; photos (M)

Swiss employment services company Adecco is trying to persuade its lenders to exend deadline of May 3 set for release of its audited financial statements for 2003; delayed reporting 2003 results in January after disclosing that it had uncovered accounting problems at unit (S)

*Executives from Sanofi-Synthelabo may have distinction of paying out some of highest severance packages awarded in Europe in recent years with acquisition of Aventis; Aventis's chairman-chief executive Igor Landau, chief financial officer Patrick Langlois, chief operating officer Richard J Markham and four others will be entitled to three years or more of full salary, as well as pension and life insurance, whether they stay, are asked to leave, or choose to go; Landau, who is stepping down, could leave with as much as 24 million euros ($28.5 million), including stock options (M)

Mayor Michael R Bloomberg projects that nondiscretionary costs, mostly Medicaid, employee pensions and interest on municipal debt, will lead to large deficits in New York City in future years; says nondiscretionary costs will rise to $22.3 billion in 2008 fiscal year from $16.1 billion this year; projects deficits of $3.8 billion in fiscal 2005 and $4.2 billion in fiscal 2006 if revenues do not grow significantly; says he is forced to rein in spending over areas where he does have control (M)

Justice Department turns over to Senate Commerce Committee documents concerning Bay Area Laboratory Co-operative investigation; seeks to determine whether certain athletes can be barred from competing at 2004 Olympics because of positive drug tests or other connection to alleged steroid manufacturer (M)