A prep course for the month-long World Cup soccer tournament, a worldwide pheno

 division , in millions of dollars : Division Revenue Percent of total Newspaper

s $ 1,981 53 Cable Television 470 13 Book , Magazine & Other Publishing 1,263 34

 1993 profit : $ 317.2 million Earnings per share : $ 2.46 Friday stock price : 

$ 36 , up $ 4 a share -0- COX ENTERPRISES INC. . Headquarters : Atlanta Chief Ex

ecutive : James C. Kennedy Employees : 31,000 Major holdings : Publishes 18 dail

y and eight weekly newspapers , six broadcast TV stations and 13 radio stations 

. It owns 24 cable television systems , the nation 's sixth-largest cable operat

ion , with 1.8 million subscribers . 1993 revenue : $ 2.7 billion Approximate re

venue and percent by division , in millions of dollars : Division Revenue Percen

t of total Newspapers $ 802.5 30 Cable television 668.8 25 Automobile auctions 6

15.3 23 Broadcasting 588.4 22 1993 profit : As a private company , not reported

 PORTSMOUTH , England The daily news summary faxed across the Atlantic Ocean Sun

day for President Clinton and his senior aides didn't include anything about the

 story that has riveted and dismayed the White House most : The first excerpt fr

om Washington Post reporter Bob Woodward 's new book on Clinton . The book , `` 

The Agenda : Inside the Clinton White House , '' portrays the president as indec

isive , his staff as fumbling and first lady Hillary Rodham Clinton as the de fa

cto chief of staff . Asked for his reaction during a morning jog Sunday that too

k him through the Portsmouth dockyards , Clinton , wearing a `` Commander-in-Chi

ef '' cap , ignored the question and ran on . But ignoring the book willn't make

 it go away , officials privately concede . It comes as one more blow at a time 

when Clinton 's approval rating has been on a slide . And his eight-day European

 trip , which in some ways has burnished Clinton 's standing , also has revived 

the public debate over whether his efforts to avoid the draft during the Vietnam

 War should be held against him . Now , the book , written by the country 's mos

t prominent investigative reporter and based on interviews with members of the a

dministration , is sure to reinforce questions about the competence of the Clint

on White House . Senior White House officials traveling with the president in Eu

rope generally have dismissed the particulars of the book as `` old news , '' no

ting that accounts of chaos in the White House operation already have been widel

y reported . `` I don't think there 's anything new , '' press secretary Dee Dee

 Myers said . ( Begin optional trim ) `` A lot that 's there we 've read before 

about process , '' White House counselor David Gergen said in an impromptu sessi

on with reporters in Portsmouth Sunday . `` We have a strong feeling that the pr

esident ought to be judged by results . '' But when he was asked if the book wou

ld erode Clinton 's reputation , Gergen glared at the questioner , shook his hea

d and left . ( End optional trim ) White House officials had hoped Clinton 's Eu

ropean tour would improve his public image , especially the perception of him as

 commander in chief . In Italy and England , he presided over emotional ceremoni

es in historic places , paying tribute to the U.S. armed forces and pledging his

 support for a strong defense . But his reception from the World War II veterans

 he has addressed has been more respectful than enthusiastic . In Italy , at the

 U.S. . Cemetery in Nettuno on Friday , some of the veterans seemed more excited

 about seeing Senate Minority Leader Bob Dole , R-Kan. , who was wounded in the 

Italian campaign . `` You have to be a veteran to understand about all this , an

d he 's not a veteran , '' Norman Myhra , a retired postmaster from Stevens Poin

t , Wis. , said of Clinton . Now 69 , Myhra was a teen-ager when he lost both ha

nds to a German booby trap during the invasion of Italy . Paul Wagner , 81 , a r

etired school superintendent from Ashland , Pa. , said Clinton `` definitely '' 

shouldn't have avoided the draft . `` It 's our country , '' he protested . In E

ngland Saturday , at the Cambridge American Cemetery and Memorial , members of t

he U.S. congressional delegation discussed Clinton 's military history as they w

aited for the president to arrive . `` I don't think it 's something he can shak

e , '' said Rep. Robert Dornan , R-Calif. , one of Clinton 's most vociferous cr

itics . `` A lot of vets I 've talked to thought he should have sent Al Gore , '

' the vice president and a Vietnam veteran , to the D-Day commemoration . He cal

led Clinton `` a draft dodger , '' and added , `` Every time we see the presiden

t at a grave , we just feel total phoniness . '' But J.J. . Pickle , D.-Texas , 

who served in the Pacific theater for more than three years during World War II 

, angrily called Dornan 's comments `` totally inappropriate . '' He said of Cli

nton , `` I think he has every right in the world to be here and I admire him fo

r coming here . '' ( Optional add end ) At a ceremony in Portsmouth to bless a c

ommemorative D-Day armada Sunday , some of the aging British veterans considered

 the question of Clinton 's global leadership . `` People here are doubtful , ''

 said Harry Pickford , 71 , of Manchester . `` You want some better people behin

d him , more than he 's got . '' `` They wanted a youngster , '' Leonard Adgingt

on , 74 , of Birmingham , said of U.S. voters , `` and they got one . '' Distrib

uted by the Los Angeles Times-Washington Post News Service .

 Some of Wall Street 's long-favorite consumer growth stocks have quietly become

 the market 's leaders again , after two years or more in the doghouse . Softwar

e giant Microsoft , retailer Home Depot and beer king Anheuser-Busch are among t

he classic 1980s growth issues that have rebounded sharply this year , after tum

bling in 1993 . The return of these old favorites is sparking debate over which 

stocks are likely to lead the next market rally , assuming the bull market that 

began in 1990 is intact . In 1992 and 1993 , `` value '' stocks were by far the 

market 's best performers . The value group includes many industrial , financial

 and utility shares that typically sell for relatively low prices compared to th

eir per-share earnings hence the term `` value . '' `` Growth '' stocks , meanwh

ile , usually sell for higher prices relative to earnings , but for a reason : A

s the category name implies , these companies typically boast above-average and 

consistent earnings growth , as opposed to the often-cyclical earnings of value 

stocks . Growth stocks had a terrific run between 1989 and 1991 , far outperform

ing value stocks in each of those years . But by the beginning of 1992 , the tid

e turned in favor of value stocks , for two big reasons . Many growth stocks had

 become overpriced after their 1989- '91 run-up . And when earnings growth for s

ome major drug companies and food companies began to slow in 1992 ( victims of h

ealth care reform and slower consumer spending , respectively ) , investors beca

me suspicious of the entire growth-stock universe . Wall Street began to bet hea

vily on a turnaround for large industrial companies , as demand for their produc

ts increased and as years of cost-cutting translated into vastly improved earnin

gs potential . Financial stocks also surged as interest rates continued to fall 

. The end result : Value stocks handily beat growth stocks in 1992 and in 1993 ,

 the first time value had back-to-back better years than growth since 1983- '84 

. Wilshire Associates , which tracks separate growth and value stock indexes , s

ays its value index rose 14 percent in 1992 , versus a 5.6 percent rise in the g

rowth-stock index . In 1993 , value rose 12.7 percent while growth fell 0.8 perc

ent . ( All figures are total returns : net price change plus dividend income . 

) So far this year , both Wilshire indexes were down about 2 percent through the

 end of May . The growth sector has been hurt by continued weakness in some big-

name stocks , including Coca-Cola and Wal-Mart . The value sector has suffered f

rom declines in utilities and some major industrial names , such as the Big Thre

e auto stocks . But measured since last October when the market began to rally b

riskly after stagnating for much of 1993 growth stocks have been outrunning valu

e stocks by a wide margin , says Wilshire Associates analyst Mike Palmer . From 

October through May , Wilshire 's growth index was up 2.2 percent , while the va

lue index dropped 5.2 percent , Palmer says . Even if you consider only year-to-

date performance , the simple fact that growth and value are about even in perfo

rmance may suggest that investors are less interested in buying value stocks , a

nd perhaps less interested in selling growth stocks as well . `` One could argue

 that value stocks ' outperformance has come to an end , '' Palmer says . Howeve

r , other yardsticks still give value an edge . The Standard & Poor 's /Barra In

c. growth and value indexes , which split the S&P 500 into the two camps , show 

value up 0.4 percent through May and growth down 2.3 percent . In any case , it 

's clear that value is no longer way out in front . And the powerful resurgence 

this year of classic growth stocks such as Microsoft and Home Depot demonstrates

 that Wall Street 's appetite for its old favorites has improved markedly from 1

993 . Why the return to growth stocks ? William Dodge , strategist at Dean Witte

r Reynolds in New York , says growth stocks are benefiting in part because inves

tors realize that at this stage of the economic cycle , `` just any old ( indust

rial ) stock isn't going to work anymore . '' Two years ago , you bought auto st

ocks because auto sales were still depressed but sure to rebound eventually . To

day , after two years of strong sales , it 's reasonable to wonder how much bett

er things can get for the auto industry . If you believe auto company earnings w

ill peak in 1995 , you probably aren't going to buy the stocks now . At the same

 time , earnings of many classic growth companies have continued to rise at annu

al rates of 15 percent or better since 1992 , even as the stocks have been dashe

d . The result : Price-to-earnings ratios , or P-Es , of growth stocks are in ma

ny cases significantly lower today than two years ago . If Wall Street takes an 

increasingly dim view of the earnings potential in value stocks , investors will

 naturally look to growth stocks as an alternative . And if they find lowered P-

Es on those stocks , the justification for buying them becomes that much greater

 . Of course , it may still be too early to say that growth stocks are taking ov

er for value stocks . We may be in a stock-picker 's market where some issues in

 both camps will do well , while the aggregate indexes perform poorly . But it '

s worth noting that Wall Street responds to momentum . If more investors begin t

o perceive that the momentum is shifting back to growth stocks , their rebound c

ould become a self-fulfilling prophecy .

 WASHINGTON As if the Democrats didn't already face enough trouble forestalling 

big Republican gains in the Senate this year , Sen. Edward M. Kennedy , D-Mass. 

, may have a serious re-election challenge for the first time in decades . A rec

ent poll by the Boston Globe found that a majority of Massachusetts voters belie

ve someone else should be given a chance to serve . Kennedy , who is seeking a s

eventh term , is expected to be opposed by W. Mitt Romney an articulate venture 

capitalist and the son of former Michigan Gov. George Romney who has the backing

 of the Massachusetts GOP and is likely to be well-financed. .. . Although Kenne

dy 's supporters maintain that the 32-year incumbent has reversed his plunge in 

voter esteem resulting from the 1991 rape trial of his nephew William Kennedy Sm

ith , the Senate titan has shown surprising signs of vulnerability in other poll

s as well . At a minimum , the challenge will force the liberal lawmaker to expe

nd considerable time and resources campaigning at a time when he is a key player

 in President Clinton 's health care reform effort. .. . Said one national Democ

ratic strategist : `` He is taking this ( election ) very seriously. '' .. . The

 Democrats , who have a 56-44 Senate majority , are bracing for an overall loss 

of several seats in November 's mid-term elections . -0- WATKINS REDUX : With hi

s notorious helicopter-borne golf outing , former White House aide David Watkins

 destroyed on one balmy afternoon the personal ties to Clinton that he had been 

profitably cultivating for years . Or did he ? .. . Washington lobbyists and som

e White House aides believe Watkins would be a prime catch for the lobbying trad

e , and some wouldn't be surprised to hear that he had landed a six-figure job .

 Although the flap over the trip sorely strained Watkins ' relationship with som

e administration heavyweights , he still has close ties to some in the Arkansas 

crowd . During Clinton 's 1992 campaign and since , Watkins proved he could get 

things done , aides say . And ethics rules , while making the White House off li

mits , wouldn't keep him from lobbying Congress or federal agencies on most kind

s of business. .. . Watkins said lobbying was not one of the opportunities he wa

s exploring . But he conceded that he 's `` not ruling anything out. '' .. . One

 big problem remains : Such a career move would renew complaints about the flexi

ble ethics of a White House crowd that had once pledged to end such practices . 

-0- WITH FRIENDS LIKE THIS : Guess who is racing to Clinton 's defense in the Wh

itewater flap ? Political extremist Lyndon LaRouche . A slick , 64-page magazine

 put out by LaRouche followers suggests the attack on Clinton is a plot by Briti

sh intelligence , angered by U.S. opposition to the International Monetary Fund 

's policy of `` shock therapy '' for Russia . `` It is your presidency they are 

assaulting , '' the journal declares with alarm . -0- NO MORE MR . NICE GUY ? A 

month after he was passed over for a seat on the Supreme Court , Interior Secret

ary Bruce Babbitt has begun to develop cracks in his much-heralded even temper .

 Babbitt is known for his consensus-building style , but when Sen. Hank Brown , 

R-Colo. , last week started slamming the compromise Babbitt had carefully crafte

d on grazing fees for federal lands , Babbitt got steamed . He packed his bags a

nd headed to Colorado to stare down Brown on his own turf . Brown had been a key

 player in the grazing compromise and Babbitt was apparently furious that he had

 started bad-mouthing the plan. .. . Babbitt 's fit of pique came after the laid

-back Arizonan unleashed a string of public epithets against the mining industry

 , which is fighting a sweeping reform plan passed by the House .

 WASHINGTON On a Thursday afternoon in late May , the justices of the Supreme Co

urt gathered together in an ornate conference room for a music recital . Justice

 Harry A . Blackmun , who had conceived the idea and invited six distinguished m

usicians , said he thought listening to music together would have a salutary imp

act on his often-combative colleagues . The recital and the reception that follo

wed would `` increase the level of joviality among the justices at this time of 

year , '' Blackmun commented in introducing the program . For the Supreme Court 

, `` this time of the year '' is decision time . In the last week of May and fir

st weeks of June , the justices must finally decide their cases , some of which 

have been pending since the first week in October . Chief Justice William H. Reh

nquist , a stickler for working by the clock , insists that all the opinions be 

ready for announcement by the last week in June . While the court has heard fewe

r cases during this term , it now finds itself in the usual spot with the hardes

t cases left for last . Here are highlights among the 35 cases still awaiting de

cision : ABORTION PICKETING Can a judge block anti-abortion protesters from pick

eting and praying at the gates of an abortion clinic , or does such an order vio

late their free-speech rights ? A ruling in the case of Madsen vs . Women 's Hea

lth Center could affect the constitutionality of the newly enacted federal law d

esigned to protect abortion facilities . CABLE TV Does the 1992 law that require

s local cable operators to broadcast virtually all the nearby over-the-air stati

ons violate the First Amendment rights of the cable companies ? If the justices 

agree with the cable TV industry , the ruling in the case of Turner Broadcasting

 vs. FCC could have broad impact in the communications field . DEATH PENALTY Is 

the California death penalty law unconstitutional because it permits jurors to c

onsider vague factors when deciding upon life in prison or death for a convicted

 killer ? A ruling in Tuilaepa vs. California could affect the fate of all 375 i

nmates on Death Row , but the justices indicated during the March argument that 

they would likely uphold the law . VOTING RIGHTS Is a state required to maximize

 the number of legislative seats for blacks and Latinos when drawing boundaries 

? This case from Florida raises a series of complicated questions because benefi

ting blacks can hurt Latinos and vice versa . The justices heard arguments in Jo

hnson vs. DeGrandy on the first Monday in October , but have struggled since the

n to issue a decision . RETROACTIVE TAXES Can Congress repeal a tax benefit afte

r a taxpayer has taken advantage of it and order the Internal Revenue Service to

 seek retroactive payments ? Since the 1930s , the high court has given state an

d federal officials broad powers to impose retroactive taxes , but the case of U

.S. vs. Carlton has forced the justices to rethink that doctrine . RELIGION Can 

a state carve out a special school district so as to serve a separatist religiou

s sect ? If the answer is `` yes '' in this New York case , other sects are like

ly to seek the same benefits . But the ruling in the Village of Kiryas Joel vs. 

Grumet is likely to be narrowly focused and will not have a broad impact on othe

r cases involving the separation of church and state . ( Optional Add End ) UNIT

ARY TAXES Is California 's now-repealed unitary tax on multinational corporation

s unconstitutional ? A loss in the case of Barclay 's Bank vs . Franchise Tax Bo

ard could cost the state as much as $ 4 billion , but during the oral argument t

he justices sounded as though they will reject the bank 's claim . SIGNS Can a c

ity outlaw the display of all signs and billboards , except those necessary to i

dentify a residence or business ? If the court were to rule for the city in Ladu

e vs. Gilleo , local officials would have far broader authority to ban billboard

s and other `` visual clutter . '' PROPERTY RIGHTS Can city officials force a st

ore owner to give up some of his property to a bike path as a condition of getti

ng a building permit , or is that requirement an unconstitutional `` taking '' o

f private property ? In a 1987 case involving a Ventura , Calif. , beachfront ho

me , the court said it would frown on a public agency 's demands that amounted t

o `` extortion '' of property owners , but the justices have been unable to agre

e on a clear standard . The case of Dolan vs. Tigard gives them another chance .

 ATLANTA The Clinton administration is stepping for the first time into the unce

rtain , but potentially lucrative business of trying to guide the economic resur

gence of a newly democratic South Africa . But the job of redrawing the nation '

s economy in a way that ensures that the transition to democracy translates into

 fundamental improvements in living standards for all South Africans is easier s

aid than done . Just listen to Trevor Manuel , once an African National Congress

 intelligence officer and now South Africa 's minister of trade and industry . `

` We 've inherited an economy that is fairly skewed , '' said Manuel , a man who

 displays a penchant for flowery ties and down-to-earth rhetoric . The Johannesb

urg stock exchange is the 10th largest in the world , he notes , yet `` South Af

rica is one of the few countries in the world where there is no McDonald 's . ''

 With personal encouragement from Vice President Al Gore and South African Execu

tive Deputy President Thabo Mbeki , senior U.S. and South African officials team

ed up with business executives from both countries in Atlanta over the weekend t

o begin wrestling with the economic needs facing the new multiracial government 

. `` We want to build an economy , '' said Harry L. Schwartz , South Africa 's a

mbassador to the United States . `` We have tremendous resources to become a maj

or economic power . '' True , say less-biased observers , eyeing a potential $ 2

0 billion market . But what about the promises Nelson Mandela made to the black 

majority as he campaigned successfully to become the country 's first black pres

ident ? What about building houses in black townships , supplying them with elec

tricity and clean water , and revamping the educational system ? At its heart , 

the dilemma is this : Can South Africa attract the outside investment it needs f

or growth and wealth redistribution , while also meeting the political goal of r

econciliation of the races and the economic goal of raising living standards of 

the black majority ? Gore is among those who answer affirmatively . The blueprin

t for change drafted by the African National Congress `` doesn't ask for utopia 

, '' Gore said . `` It asks for running water , flush toilets , schools , health

 clinics . But how can South Africa finance even these things in a country where

 the majority of the people have less than 10 percent of the wealth ? '' Accordi

ng to South African officials , the commitment to both democracy and the free ma

rket is unwavering . `` We have not come carrying a begging bowl , but a nationa

l commitment to invest in people by investing in democracy , '' said Mbeki , who

 is calling for increased U.S. investment and two-way trade between the United S