May 13, 2005

JILL LAFER sees a lot of theater and believes that she knows her way around Broadway as well as the next New Yorker. But on Wednesday she was stumped for a moment while heading to the matinee performance of ''Glengarry Glen Ross,'' the David Mamet work that occasionally sprinkles words of more than four letters between the expletives. Her ticket told her to go to the Royale Theater, on West 45th Street. But there is no such place, not anymore. ''I knew the address, and I knew about where I was going,'' said Ms. Lafer, who lives on the Upper East Side. ''But I couldn't see it. I was completely confused.''

Morgan Stanley Dissidents Describe Plan to Split Firm The grumpy old men just got grumpier. After more than a month of silence, a dissident group of retired Morgan Stanley executives described in greater detail their proposal to split the firm in two, in a further assault on the leadership of Philip J. Purcell. The plan, which has already been spurned by the firm's board, includes some ambitious assumptions. [Page C3.] April Retail Sales Exceed Forecast Retail sales climbed 1.4 percent in April, double economists' median forecast. [C12.] Moody's Lowers Ford's Debt Rating A week after Ford lost its investment-grade rating from Standard & Poor's, Moody's lowered its assessment of the automaker's debt to one step above junk. In addition, the chief executive, William Clay Ford Jr., said that he would not accept any compensation until profits from the automotive unit improved. [C5.] Microsoft to Start Antivirus Service Microsoft said it would enter the consumer antivirus business as part of a subscription service that it plans to offer next year. [C2.] Dell said first-quarter profit rose 28 percent on strong sales outside the United States. [C2.] Stocks Fall Though Oil Price Drops The Dow fell 110.77 points, to 10,189.48, while the S.&P. 500-stock index dropped 11.75 points, to 1,159.36. The Nasdaq fell 7.67 points, to 1,963.88. The price of oil dropped to its lowest level since mid-February. [C6.] Collins & Aikman Chief Resigns The Collins & Aikman Corporation, the maker of car interior parts, said that its chairman and chief executive, David A. Stockman, had resigned. Mr. Stockman is a former budget director in the Reagan administration. The company said it was seeking a waiver from creditors because of lower-than-expected first-quarter results and ''liquidity issues.'' Trading of its shares was also suspended. [C3.] New Chief for German Retailer Thomas Middelhoff, who left Bertelsmann three years ago, was named chief of KarstadtQuelle, the struggling German retailer. [C4.] 2 Counts Against Scrushy Dropped The judge overseeing the accounting fraud trial of the former HealthSouth chief executive Richard Scrushy dismissed 2 of the counts against him; 36 others remain. [C5.] Training of Chinese Canceled The Nieman Foundation at Harvard withdrew from a plan to train Chinese government officials on how to deal with the media when the Olympic games come to Beijing in 2008. [C6.]

A railroad bridge in Kearny, N.J., caught fire last night, shutting down all train service between New York City and Newark and threatening to disrupt today's commute and weekend getaways. The fire, which started about 7:30 p.m. on a bulkhead of the bridge in the Hackensack River, sent clouds of black smoke billowing up to the tracks above. Wooden ties on the bridge caught fire before the blaze was contained two hours later.

Editors' Note: New and expanded offerings make their debuts in Business Day section on May 16

Article on gay scene in Orlando, Fla, which has emerged in last few years as major destination for gay tourists; focuses on Parliament House club complex, which, after undergoing $2 million makeover, is about to break ground on Gardens, adjoining 164-unit time-share resort heralded as first gay-friendly project of its kind in world; thumbnail sketches of what Chicago, Philadelphia and San Diego are doing to attract gay, lesbian, bisexual and transgender visitors; photos; map (M)