Baxter: Inspire, fix or bust up.

Baxter International Inc., whose Chief executive officers, Harry M. Jansen Kraemer Jr., quit last week, could use one of each as it searches for his successor. Its stock has plunged 50%, to the $29 range, from a March 2002 peak, and investors watched with dismay as Mr. Kraemer repeatedly missed sales and profit projections. Some fast cost-cutting and financial discipline would reassure Wall Street. Last week came news of further job cuts and a charge of $200 million to $300 million to cover the latest restructuring. Increases in generic competition and lower prices negotiated by the nation's largest hospital buying group compelled Baxter executives to lower the outlook for sales growth to the 4%-to-6% range. INSET: DASHED DREAMS.