HELLO THERE, MR. MALONE, WHAT'S NEW?

Graduation time is always memorable, but how many young men could enjoy it as much as 6'11" Moses Malone, the most sought-after high school basketball prospect since Lew Alcindor? Malone received his diploma from Petersburg (Va.) High after finishing his final semester with straight A's, thus lifting his overall average to C and qualifying him for a scholarship to the college of his choice, the University of Maryland. He got a car, a 1974 Chrysler Imperial, obtained through a lease-purchase arrangement; no money down, $1,050 a year. And a new $7-an-hour construction job in Washington, D.C. There was even talk that a $1 million insurance policy might be nice as a hedge against any injury that could affect his value as a professional player after his college career. Nor is the Malone good fortune limited to Moses. His mother Mary has quit her job as a nurse's aide to become a meat-packer at $100 a week, twice her former salary. The talented Moses is entitled to his smile. Unsmiling is Clemson's Tates Locke, one of 300 spurned coaches, who says: "Maryland did a super job of recruiting, really amazing. They covered every exit and entrance."

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JOHN IACONO