Daily News from New York, New York • 1715

DOW JONES INDUSTRIAL 14.87 3,979.93 (Average of 30 etocfce) 500 0.52 485.13 AMERICAN OVER TT IE 1.31 793.68 (NASDAQ Inrtex) EXCHANGE rt 453.06 (National Index) (Index of all exchange) Wm KfflDillQ mm El (mm By ANNE E. K0RN8LUT and PATRICIA WINTERS The song for which Springsteen won four Grammys, "Streets of Philadelphia," has already been around the awards block several times. A more likely candidate would be Sheryl Crow, who might have been a fresh face to many viewers, and Records said it had received "many calls" about her yesterday. Soundscan, the company which monitors actual in-store sales, ended its week on Wednesday, so any sales "bumps" that started yesterday wouldn't be reflected until the middle of next week. But workers at music stores throughout the city say they can see a difference already.

"Sheryl Crow sales? Wow, my God. I've sold definitely more than 100 today (as of 4 p.m.)," said George Rome ro, cashier -at the HMV on 86th St "They come in and ask me which one is Sheryl Crow. I haven't run out, but I'm into new boxes now. I had no idea how good the Grammy awards were for record stores. It's usually slow on a Thursday, but today it has been more crowded.

Everyone buying CDs is getting at least one that was a Grammy Tom Chapman, rock manager at HMV on 72d St. Broadway, said: "Sales have been high for artists who performed in particular, Sheryl Crow. Brace's album is doing outstanding, but it's been that way since it came out on Tuesday." If past successes are any indication, this year's winners can sit back and SEE GRAMMY PAGE 33 Daily News Staff Writers From sales bumps to promotional boosts, the Grammys can translate into big bucks for artists and businesses. With Grammys scattered lavishly among many artists and record companies, music industry people are waiting to cash in on Wednesday's nationally televised awards. A spokeswoman at Sony Music, which has Bruce Springsteen, Tony Bennett, Bob Dylan and other award-winners, says the company is "thrilled with their success" and plans to take out appropriate ads heralding this success, but isn't sure yet how big an impact the victories could have on sales.

"With artists like this, most people are already aware of them," she says. SPOTLjG Departing Big Blue IBM chief strategist James Cannavino, who once headed Big Blue's PC and mainframe business, abruptly announced his retirement after two years of quiet seclusion as a key adviser to Chairman Louis Gerstner. Cannavino, who took the job as senior.vice president for strategy two years ago, had told Gerstner he would like to leave at some point and run his own business. Cannavino's announcement comes on the heels of a major executive shakeup that Gerstner started in early January with the departures of senior executives Ellen Hancock and Bob LaBant. But analysts do not believe Cannavino was forced out Another crisis? The savings and loan industry's deposit insurance fund is dwindling and may be insufficient to handle a large failure, according to the General Accounting Office.

It said the insurance fund's inadequacies will worsen unless Congress and regulators address a widening gap between the bank and thrift deposit insurance funds. Viacom resisters Viacom's request for a communications tax break is being contested by two groups. Cook Inlet Region, a broadcast company owned by Eskimos and members of other Alaska minority groups, and Citizens United, a conservative group, have asked the Federal Communications Commission to turn down Viacom's request for a tax certificate in separate filings. The tax certificate would let Viacom defer millions in federal taxes as long as it invests the money in communications properties. Companies may get the tax break in two ways by selling to a minority-controlled business or by providing start-up capital for such a business.

Viacom plans to sell its cable systems to a minority-controlled partnership run by California businessman Frank Washington, who is black. Cook Inlet said Viacom's plan is consistent with the FCC's tax certificate program, but that granting the tax break would continue FCC down the wrong path. A burger A Washington state court has approved the settlement of a lawsuit under which a 12-year-old girl who nearly died after eating a tainted hamburger will get $15.6 million. Under the settlement approved PS Si By PATRICIA WINTERS mJism3Lmims. MiMM.

Hi y-t ft -i ts tssi -y Daily News Business Writer Think megastore, and discount retailers such as Staples, Barnes Noble and Wal-Mart come to mind. Well, think again. Some of the world's most exclusive fashion designers have gojten into the megastore act, among them Ralph Lauren, Chanel and Salvatore Ferragamo. The latest in the fray is Italian designer Gianni Versace known for clothing Princess Diana, Jane Fonda and pal Sylvester Stallone, among other glitterati. This fall, Versace opens an exclusive megastore on Fifth Avenue at 52d St.

in a historic marble town-house originally built for the Vander-bilts in 1905. And more designer operations are expected. Giorgio Armani also with boutiques in the city is slated to open a megastore at Madison Avenue and 65th St. by spring 1996, according to yesterday's "Hot Copy" in the Daily News. Calvin Klein, meanwhile, is in the throes of finishing a megastore near Barney's on Madison Avenue.

And rumor has it that Donna Karan is lit stores on Madison. It also supports expanding licensed product operations of designers, and attracts new licensees and retail partners, said Millstein. These are big areas for designers, who have been very successful in licensing fragrances, hosiery, footwear and underwear. Though Versace already has two boutique locations on Madison Avenue, and designer showcase stores in Paris and London, the New York store will be the yesterday, Foodmaker, operator of Jack-in-the-Box restaurants, meat looking for a major show processor Von Stores and various slaughterhouses will pay the sum to Brianne Kiner, said her lawyer, largest and will become his flagship site. The store will house his entire collection, from couture lines to its case between 57th and 72d.

Designers are develop ARTIST'S rendering (above) of plans designer Gianni Versace (left) has for Fifth Avenue townhouse. Foreign designers might be attracted to the city now also because in terms of worldwide real estate prices, New York looks like a bargain compared to the rents in France and Italy, said Millstein. But while the stores might be fun to see, don't expect any bargains. So far, these are not stores for anyone on a budget, said Millstein. Versace, for example, estimated that prices will range from a $50 Versace ashtray to Versace-designed fine jewelry, which easily runs into the thousands of dollars.

William Marler. Kiner, who fell into a 42-day coma after eating a Jack-in-the-Box hamburger in January '93, was the most seriously affected survivor of meat tainted with the e. coli bacteria that killed three children and sickened some 500 in the Seattle area in '92 and '93. Gold silver Gold rose $1.90 on the New York Commodity Exchange, closing at $376.70 a troy ounce. Silver rose 2.2 cents, to close at $4,397.

ing the stores less as retail opportunities than as international showcases for their designs and "point-of-view," said Alan Millstein, editor of industry newsletter "Fashion Network Report." "It becomes an important laboratory (for the designer) and an important showcase," said Millstein. But Ralph Lauren has proven it can be profitable with his huge home collection, and also will have a roof-top garden, terrace and, possibly, a cafe. "As a merchandising opportunity, it will show the entire world of Versace as only he and his design team can," said Versace spokeswoman Pam Stein. "Only he and his team can understand, (for instance) the relationship carpets have to the clothes." A ri i i.