Ackman Clears the Record

cityfile · 06/01/09 03:05PM

Hedge fund manager Bill Ackman lost his high-profile proxy contest with Target last week, a defeat that reportedly led him to shed a tear or two when he spoke at the company's annual shareholders meeting. It was Ackman's decision to invoke the words of John F. Kennedy, though, that really ticked off New York Times business columnist Joe Nocera, who penned a blistering critique of Ackman's performance on Friday. So how did Ackman respond? He stayed up all night and composed a 5,000-word essay to explain himself: "The tear was not for the loss of a proxy contest as Mr. Nocera implies, but rather in recognition of the significance of JFK's words nearly 50 years ago. It may also have represented some amount of physical and emotional fatigue." Duly noted. [NYT]

Mayor Bloomberg Relies On a Different Pay Scale

cityfile · 06/01/09 02:23PM

Mayor Bloomberg raised a few eyebrows when he said earlier today that President Obama "does not get paid very much." City Room details just how much the president makes a year when you factor in some of the perks that come along with the job: "As president, Mr. Obama earns $400,000 a year. He has a $50,000 expense account, a $100,000 nontaxable travel account and a $19,000 entertainment budget. Mr. Obama's total compensation package: $569,000 a year. That is 11 times the median household income in the United States." Of course, it's also what Bloomberg probably collects in interest over the course of a couple of days so, you know, it's all relative. [NYT/City Room]

An Israeli TV Star's Violent Campaign of Terror

Richard Lawson · 06/01/09 02:21PM

An Israeli TV star with the improbably hilarious name of Dudu Topaz has been arrested on suspicion that he organized a series of attacks on his enemies in the TV industry. Three vicious incidents have been blamed on "The Ratings King" and his nefarious team of security men.

But Is Bruno Good for the Gays?

Richard Lawson · 06/01/09 01:45PM

Gay Bruno landed balls-down on straight, angry Eminem's face last night, thus firmly heralding the beginning of the Summer of Bruno. And it made me wonder: Based on that little antic, and the leaked details of the film, is Bruno gonna be good for the gays?

Meet The Volkswagen Jetta TDI

Chrissie Lamond · 06/01/09 12:59PM

Did you know that Jetta TDI is one of the most fuel-frugal Volkswagens ever? It holds a Guinness World Record for gas mileage - 58MPG!. Meet Volkswagen Jetta TDI. 2009 Green Car of the Year.®

Why Didn't We Listen to Michael Moore?

Pareene · 06/01/09 12:51PM

"Twenty years ago when I made Roger & Me, I tried to warn people about what was ahead for General Motors. Had the power structure and the punditocracy listened, maybe much of this could have been avoided." Hah, really?

Conan, Jay, Bravo & Condé Nast

cityfile · 06/01/09 12:07PM

• Conan O'Brien makes his debut this evening as Tonight Show host. [BN, EW]
• Bravo is ditching its tagline "Watch what happens" and replacing it with "By Bravo." We'll just have to watch and see what happens with that. [AdAge]
• More on the recent ratings meltdown at CNN. [Politico]
• The Times Magazine will be 9 percent smaller starting in two weeks. [E&P]
• DirectTV chief Chase Carey is in talks to join News Corp. as Rupert Murdoch's second-in command, taking over for Peter Chernin. [THR, BN]
• Disney's animated pic Up was No. 1 at the box office this weekend. [THR]
• New York's cover story on Condé Nast, in case you missed it. [NYM]

The Hills: The Death and Birth of Lauren Conrad

Richard Lawson · 06/01/09 12:03PM

Well that, I guess, is it. The last we'll see of old Lauren "LC" Conrad on The Hills, the reality dynasty that she helped build with her own two well-groomed hands. How did it all go down? Well, like any good comedy, it ended with a wedding.