Tiny drawings, called spots, that have peppered the pages of New Yorker magazine for decades, now share running theme or tell microstories; editor David Remnick comments on changes; drawings (M)

Talk of the Town (Make That Whisper)

Photo of Mexican migrants moving through heavily polluted New River near California border, knowing Border Patrol will not wade in to arrest them

INSIDE

Connecticut University defeats Florida State University, 70-52, to advance to women's NCAA tournament Round of 16 (M)2

UConn Feels at Home in Routing Florida State

We Won't Have That Surly Superstar to Kick Around Anymore

Federal Reserve raises federal funds rate on overnight loans between banks to 2.75 percent from 2.5 percent; restates its intention to keep raising rates at 'measured' pace in months ahead; says it sees rising inflationary pressures, setting off alarms in stock and bond markets that it might drive up interest rates faster than expected; implies it might have to take tougher monetary policy action to keep risks to inflation and growth roughly equal; Dow Jones industrial average and Nasdaq both drop by 0.9 percent and yield on 10-year Treasury bonds jump to 4.64 percent from 4.47; Commerce Department reports Producer Price Index rose 0.4 percent in Feb, compared with Jan gain of 0.8 percent; federal funds target rate graph; photo (M)

Fed Lifts Rate 7th Time in Year and Warns of Greater Inflation

R W Apple Jr article on Smithfield ham, granddaddy of dry-cured country hams produced in half-dozen Southern states; reports on his visit to Smithfield, Va; notes that even with modern technology, producing Smithfield hams is finicky process; list of some Smithfield ham sources; photos (L)

Americana, Salted, Smoked and Sliced Thin

WHEN Scenic Hudson needed to develop a plan for restoring the West Point Foundry, one of the nation's most significant early industrial sites, it imported four noted industrial archaeologists to come up with ideas for the site, where steam engines, cannons, iron ships and machines for sugar production were made from 1817 to 1911.    But there are really two amazing historical artifacts in this lovely Hudson River village, 55 miles up the river from Manhattan. The first is the foundry, which got its start when President James Madison recognized the need for heavy artillery after the War of 1812 and, at its peak, employed more than 1,000 workers. The second is the village the foundry once defined, a rickety, compact jewel with a Main Street from central casting, a cheek-to-jowl jumble of architectural styles and a neo-Hudson Valley population mix of longtime river families and a new breed of artists, urban refugees and weekenders.  

New vs. Old, This Time With a River

Stocks and bonds fall sharply and interest rates rise after Federal Reserve says inflation pressures increased in last few months; US dollar rallies on anticipation of higher interest rates to curb price increases; Dow Jones industrial average falls 94.88 points, or 0.9 percent, to 10,470.51; Standard & Poor's 500-stock index drops 12.07 points, or 1 percent, to 1,171.71; Nasdaq composite index declines 18.17 points, or 0.9 percent, to 1,989.34; longer-term rates for US Treasury bonds are still lower in cycle of Fed interest rate increases than would be expected; while 10-year yield, at 4.64 percent, is higher than 4.58 on June 30, Fed policy makers have pushed up short-term rates by 1.75 percentage points since then; normally, longer-term yields would be expected to be higher than they are now; US dollar rises 0.8 percent against euro and 0.5 percent against yen, bolstered by Fed announcement of interest rate increase; euro is valued at $1.3071, down from $1.3173, while dollar is worth 105.57 yen, up from 105.04; graphs; charts (M)

Stocks Plunge as Fed Stirs Inflation Fears

Fewer and fewer companies are able to shoulder 100 percent of workers' health insurance premiums; scattering of comapnies in industries with strong unions like telecommunications, steel and autos, as well as few state governments still pay entire premium, but most employees are paying more each year as health costs soar; percentage of large and medium-size employers paying 100 percent of workers' individual premium plummeted to 17 percent in 2004 from 29 percent in 2000; most workers who are required to share premium costs are paying more each year; average share of premium paid by employees in large and medium-size companies is expected to reach $2,800 for family coverage and $800 for individuals this year, increase of 27 percents in family premium for $2,200 in 2003, and 23 percent rise from $650 in individual rate; graph (M)

Fewer Employers Totally Cover Health Premiums

Workers shape tons of dirt and scenery into obstacle course for Jeeps in huge tent outside Jacob K Javits Convention Center for New York International Auto Show; exhibit features 20-foot hill inside 45,000-square-foot display for those wanting to challenge course's tough terrain in sports utility vehicles; $1-million promotional exhibit is creation of George P Johnson Co; photos (M)

New York Imports Dirt?

Regulators are examing whether American International Group has in recent years burnished its results by striking deals with offshore insurers that appear to be independent companies but may be affiliates of AIG; if companies are AIG's affiliates, transactions between them may not involve true transfer of risk and may run afoul of insurance accounting rules; companies under scrutiny are Richmond Insurance and Union Excess Reinsurance, reinsurers that, according to regulatory filings, do business solely with AIG; both are registered in Barbados, offshore tax haven that is loosely regulated; another offshore insurer that counts AIG as its only customer is Pillar Insurance, also of Barbados; regulators are trying to determine whether transactions between companies and AIG were intended to smooth AIG's earnings, shift some of its troubled assets offshore or circumvent capital requirements; AIG's chief financial officer Howard Smith and vice president Christian Milton are dismissed for refusing to cooperate with regulators investigating transaction between AIG and General Re (M)

Investigation of A.I.G.'s Deals Moves Offshore

New York City police files on mob figure Rosario Gambino that were found at his home in 1985 reveal fingerprints belonging to former Officer Louis Eppolito, whose immediate family includes several organized crime figures; controversial decision by former Deputy Comr Hugh H Mo dismissed charges as circumstantial; Eppolito, who remained on force for five more years, is under indictment for cementing ties to organized crime by participating in murders of more than six people; is also accused of disclosing to mob figures information about pending investigations and revealing identities of confidential informants; Mo defends earlier decision; Stephen Caracappa, Eppolito's former police partner, is also indicted; photo (M)

Officer in Murder Case Got Benefit of Doubt in '85

Gail Berman is expected to leave her job as chief television programmer at Fox Entertainment for movie business, taking creative position at Paramount Pictures under new chairman Brad Grey; Berman has no appreciable big-screen experience; her job change will shake up both entertainment organizations, with Fox losing its president at critical point in network's planning for new television season, and Paramount reshaping its management structure further under Grey; neither company officially acknowledges deal has been completed; photo (M)

TV Chief at Fox Going to Paramount

Ben Brantley reviews production of Tennessee Williams play The Glass Menagerie, directed by David Leveaux; Jessica Lange and Christian Slater star; photos (M)

A 'Menagerie' Full of Stars, Silhouettes and Weird Sounds

Federal Judge James D Whittemore refuses to order Terri Schiavo's feeding tube reinserted, holding her parents, Robert and Mary Schindler, have not established 'substantial likelihood of success' if new trial were held in federal court; Schindlers quickly appeal; other advocates of preserving life of severely brain-damaged Schiavo increase pressure on Gov Jeb Bush and Florida Legislature to find another solution; some conservatives score Congressional effort to override state rulings in case as violation of key conservative tenet; lawyer for Schiavo's husband, Michael, says she is not suffering; photos (M)

Schiavo's Parents Appeal After Judge Declines to Order Feeding

A O Scott reviews movie The Hero, directed by Zeze Gamboa, part of 34th New Directors/New Films series; photo (M)

Around the World in Less Than 80 Days

Four children die in fire at their home in Teaneck, NJ, caused by overloaded circuit; firefighters investigated reports of smoke in basement of home earlier in day, but found nothing wrong; two other children, their nanny and their mother, Phyllis Seidenfeld, are injured; photos (M)

4 Children Die in House Fire in New Jersey

Some Chinese and Western economists are concerned that investment in China, which grew at 9.5 percent pace last year, could produce unneeded factories and underused highways and power plants, weakening country's already shaky financial system; government officials have been trying to cut what they see as unneeded investment projects and reduce growth to more sustainable pace; independent experts who examined government statistics say investment in such projects represented 45 percent of China's gross domestic product, broadest measure of economy; map; chart; photos (M)

Investment Bubble Builds New China

Article on latest efforts by CNN president Jonathan Klein to narrow gap with Fox News by increasing average amount of time viewers spend watching its prime-time lineup; Nielsen Media Research ratings show six-minute gap in average viewing time has had profound impact on CNN's ratings; photos; graph (M)

CNN Seeks New Ways to Battle Fox News

West Virginia University men's basketball coach John Beilein will try to lead team to victory over Texas Tech University in NCAA tournament Round of 16; photos (M)/

West Virginia and Its Coach Were Built for the Long Haul

 There is life above the ground floor and mezzanine selling areas on Fifth Avenue from 50th to 57th Street in Manhattan. Landlords have been renovating upper-floor office space in two buildings so they can rent it to upscale tenants. [C7.]    The Shorenstein Company is disposing of a substantial portion of its office portfolio in San Francisco as it moves to become a national business, and it is taking advantage of a surprisingly feverish market. [C6.]  

COMMERCIAL REAL ESTATE

New York City subway trains are halted and thousands of commuters delayed at peak of morning rush for third time in less than week because of fire at Brooklyn station that snarls service on four lines and 13 Long Island Rail Road trains; service is suspended on two other subway lines, even before fire is extinguished, because of police probe at Columbus Circle station, Manhattan, infuriating riders in another key business district; major subway disruptions have occured with striking regularity throughout city in past two months on heels of fare increase, unleashing torrent of frustration from riders and elected officials; graph of slipping on-time performance; table of delay causes; photos (M)

Subways Are Stalling, and the Riders Are Screeching

Increased bidding by Cablevision and New York Jets football team for West Side railyards in Manhattan is sure to result in creation of thousands of new apartments and offices to pay cost of site; some estimates approach 20,000 units, which would surpass 15,372 apartments in Co-op City in Bronx; more office space would be added than exists in downtown Denver or Cleveland; some urban planners warn city cannot sustain so many new apartments and offices; community groups opposed to stadium still support Cablevision, but agree that density of housing is more than they wanted; Cablevision's mixed use plan, unlike Jets proposal, would not require transfer of unused development rights elsewhere; drawing (M)

More High-Rises Sure to Result From Bidding Over Railyards

 Citing Inflation Pressures, Fed Raises Interest Rates  The Fed nudged up short-term interest rates for the seventh time in the last year, raising the federal funds rate on overnight loans between banks from 2.5 to 2.75 percent. It restated its intention to keep raising them at a ''measured'' pace in the months ahead.    But in a departure from previous declarations, the central bank said there were rising inflationary pressures beyond those tied directly to recent jumps in oil prices. [Page A1.]    Oracle Revenue Rises as Profit Falls  The Oracle Corporation, the software company, said that its revenue rose 18 percent in the third quarter but that its profit fell as it followed through on its $10.3 billion takeover of the PeopleSoft Corporation. Safra Catz, a co-president of Oracle who is also serving as the company's chief financial officer, said the company was pleased with the quarter, which she described as a transitional one. [C5.]    Unsteady Day for G.M. Bonds  Confusion over a deal with GE Capital resulted in a volatile trading day for General Motors bonds. [C2.]    A Step Toward Personalized Drugs  The Food and Drug Administration took a major step toward the development of drugs that would be tailored to individuals based on their genetic profiles. [C3.]    A Canadian court blocked an attempt to sell a generic version of the blood thinner Plavix in Canada. The decision comes as a similar suit is under way in the United States. [C14.]    Companies Seek Older Workers  More companies are hunting for older workers because they have lower turnover rates and, in many cases, better work performance. [A1.]    Limits of Social Security Proposal  Even as he travels the country selling a Social Security overhaul, President Bush is beginning to acknowledge some of the constraints of his plan for individual accounts. [A11.]    Takeover of Swiss Airline Approved  Deutsche Lufthansa said that it had won approval for a takeover of Swiss International Airlines, the successor to Swissair. [C4.]    New Publisher at Los Angeles Times  Jeffrey M. Johnson, left, executive vice president and general manager at The Los Angeles Times, was named the publisher. He succeeds John P. Puerner, who is stepping down on May 31. Mr. Puerner, who has cut costs and staff since the newspaper was acquired by the Tribune Company in 2000, said he was taking ''a self-imposed career break.'' [C15.]    Counting CNN's Success in Seconds  CNN's new president wants to increase the time viewers spend watching the prime-time lineup by 30 seconds a month, which would have a big impact on the bottom line. [E1.]  

BUSINESS DIGEST

Growing number of companies, after years of encouraging workers to take early retirement as way to cut jobs, are hunting for older workers because they have lower turnover rates and, in many cases, better work performance; some are recruiting at senior centers, while others send company brochures to churches and libraries and post their attractions on Web sites; AARP, advocacy group for older people, has put on its Web site links to employers recruiting older workers with offers of health benefits, training and flexible work schedules; graph of rising percentage of older Americans in work force; photos (M)

March 23, 2005

Headlines from March 23, 2005

Talk of the Town (Make That Whisper)

INSIDE

UConn Feels at Home in Routing Florida State

We Won't Have That Surly Superstar to Kick Around Anymore

Fed Lifts Rate 7th Time in Year and Warns of Greater Inflation

Billboard 200

The Massacre

In Between Dreams

The Documentary

Rebirth

American Idiot

Historical Context for March 23, 2005