BRIEFCASE MICHAELS JOINING FALLBROOK CENTER.

Byline: - From Staff and Wire Reports

WEST HILLS - The Fallbrook Center will have an artistic touch, as mall management announced the completion of a deal with Michaels The Arts and Crafts Store. Though square footage and exact placement of the hobby boutique has yet to be worked out, General Manager Daryl Rheingans said the store could be located near the old J.C. Penney Outlet building along Fallbrook Avenue.

Though the new store, opening in 2003, will be kitty-corner from a revamped Jo-Ann Store, Michaels' arch rival, Rheingans thinks the two can co-exist.

``I think they're different stores,'' he said. ``They'll complement each other. It makes the whole area stronger, offering more choices for the customer.''

Alameda Corridor operations start

Operations began Monday on the Alameda Corridor rail line, which is intended to speed the movement of cargo from the ports of Los Angeles and Long Beach to switching yards near downtown.

The journey takes an average of 45 minutes - saving up to two hours' worth of travel time, said Phil Hampton with the Alameda Corridor Transportation Agency.

By mid-May, all train movements between the port complex and downtown are scheduled to be switched over to the corridor from other branch rail lines, Hampton said.

Short-term T-bill interest rates fall

WASHINGTON - Interest rates on short-term Treasury securities fell in Monday's auction.

The Treasury Department sold $10 billion in three-month bills at a discount rate of 1.680 percent, down from 1.710 percent last week. An additional $10 billion was sold in six-month bills at a rate of 1.905 percent, down from 1.975 percent.

The three-month rate was the lowest since Jan. 22, when the bills sold for 1.670 percent. The six-month rate was the lowest since March 4, when the rate was 1.890 percent.

In a separate report, the Federal Reserve said Monday that the average yield for one-year constant maturity Treasury bills, the most popular index for making changes in adjustable rate mortgages, fell to 2.53 percent last week from 2.64 percent the previous week.

Ford orders halt in Focus SVT sales

DETROIT - Ford Motor Co. has told its dealers to stop delivery of Focus SVT cars until it can fix a problem with the cruise control cable, a spokesman said Monday.

The ``stop sale'' order involves 569 cars, a small number of which have already been delivered to customers, Todd Nissen said.