BIZWATCH : MARKETS.

MARKET LOGIC: Stocks tumbled again Monday, sending the Dow Jones industrial average to its worst two-day slide since the crash of 1987 and firming beliefs the nearly 7-year-old bull market is finally suffering a correction. The Dow lost 157.11, its sixth-worst point drop ever, closing at 6,583.48. The drop sliced the year's gain to slightly more than 2 percent.

MEMO

BANKS FINALIZE MERGER: Bank of Los Angeles completed its merger with American West Bank on Monday, forming a West Hollywood-headquartered financial institution with assets of more than $193 million. The bank has branches in West Hollywood, Encino and Glendale, and two in Beverly Hills, said John Feldman, BofLA's president and chief executive officer.

JERRY'S PICKS PRESIDENT TO HELP EXPANSION: Jerry's Famous Deli Inc. announced that Kenneth Abdalla has assumed the office of president on an interim basis to assist in the company's acquisition and expansion strategy. Abdalla is a director of Jerry's Famous Deli and is the managing member of Waterton Management LLC, which owns 30 percent of the common stock of the company. Jerry's, based in Studio City, also reported a loss of $4.06 million for its fourth quarter. The company blamed the loss on the costs of expansion.

CHATSWORTH COMPANY CHANGES NAME, SYMBOL: Plasma & Materials Technologies Inc. has changed its corporate name to Trikon Technologies Inc. and switched its stock symbol to TRKN from PMAT. It said the name change reflects its change in strategy to become a global semiconductor equipment manufacturer.

EIDC LAUNCHES WEB SITE: The Entertainment Industry Development Corp. plans to launch its World Wide Web site, www.eidc.com, on Wednesday with extensive information about film-permitting rules and regulations, along with feature articles about Hollywood insiders such as talent agent Gavin Polone. The launch is the first step for the EIDC, formed in 1995 by merging the Los Angeles city and county film permit offices, to start a service later this year allowing film and television producers to obtain permits for production.

UNIVERSAL, DISCOVER CARD CREATE PARTNERSHIP: Universal Studios has formed a partnership with Novus Services, a unit of Dean Witter Discover & Co., for a credit card to be released later this year, along with sponsorship of the ``Jurassic Park'' rides at theme parks in Universal City and Orlando, Fla. As part of the sponsorship, Discover Card and the other Novus Card brands will be designated as the preferred cards of Universal theme parks, as well as all Universal-owned concert venues and events in the United States.

REGULATORS OK PACTEL MERGER: California regulators gave final approval Monday to the $16.7 billion merger of Pacific Telesis into Texas-based SBC Communications, a deal that creates the nation's second-largest phone company.It will be second in size only to the merger of two other Baby Bells, Nynex and Bell Atlantic. It will provide local phone service in California, Nevada, Texas, Oklahoma, Arkansas, Missouri and Kansas.

PIXAR TO FOCUS ON DISNEY PROJECT: Pixar Inc. said it exited the CD-ROM interactive business to focus on its joint venture to develop films with Walt Disney Co. The Richmond-based computer animation company said the 62 people working on CD-ROMs will work on Pixar's second feature film, the Disney joint venture ``Bugs.'' The company has sold fewer than 1 million copies of two CD-ROMs tied to its first feature film, ``Toy Story.''

CAPTION(S):

2 Charts

Chart: (1--Color) DOW INDUSTRIALS

(2--Color) BIZ FACTS

BURGER BITE

Percent change in U.S. hamburger sales, 1995-96

Knight-Ridder Tribune Graphics Network