Condé Considers Cuts, Time Warner Takes a Big Loss
cityfile · 02/04/09 10:27AM• More magazine closures may be on the way at Condé Nast. [NYO]
• Time Warner posted a fourth-quarter loss of $16 billion. [AP]
• Bill Keller says there are "deadly serious" discussions taking place at the New York Times about charging for access to the paper's website. [E&P]
• Obama campaign manager David Plouffe has signed a seven-figure deal with Viking to write a book about last year's presidential election. [AP]
• Thanks to Ron Burkle, Wal-Mart customers can no longer pick up copies of magazines like People, Sports Illustrated and Time. [NYP]
• Jonathan Wald is leaving CNBC. [CNBC]
• Ticketmaster and concert promoter Live Nation are close to a merger. [WSJ]
An American Wears Wolf in Paris
Richard Lawson · 02/04/09 10:10AMDavid Plouffe Gets $2 Million Book Deal
Pareene · 02/04/09 10:06AMEven the Smear Campaign Was Incompetent
Hamilton Nolan · 02/04/09 10:02AMThe Ciprianis Give Up
cityfile · 02/04/09 10:01AM
It looks like the battle for control of the Rainbow Room is finally over. The Cipriani family has settled its lawsuit with Tishman Speyer and has agreed to give up control of the famed restaurant and clear out of the Rockefeller Center space by August 1st. There's no official word on what the 65th floor venue will become just yet, although Tishman execs are reportedly deciding between keeping it a restaurant or turning it into office space. [NYP]
Tokyo Princesses Choose Fantasy Over Reality
cityfile · 02/04/09 09:50AM
Leave it to fashion-obsessed Japanese youth to find a way of responding to the recession that involves looking like an entrant in a kiddie beauty contest. "Hime-kei" girls, apparently inspired by Sofia Coppola's (widely-derided) film about Marie Antoinette (it's also been suggested that the local idolization of Tinsree has played its part), dress like very warped versions of 18th century princesses with frilly dresses, fur, ringlets and flowers, a style they happily spend thousands of dollar a month maintaining. It's a phenomenon, says academic Takatoshi Imada, that's "rooted in a rejection of the goals of advancement through hard work in an ailing market economy." And isn't that something we can all relate to right now?
How Faux Filibusters Are Ruining the Economy
Pareene · 02/04/09 09:48AMWhich Action Star Hopes You Won't Notice His Face-Lift?
Richard Lawson · 02/04/09 09:45AMGoldman Prefers Bonuses to Bailouts
cityfile · 02/04/09 09:26AM
Now that President Obama has announced a $500,000 compensation cap for senior Wall Street execs who work for banks that receive assistance from the federal government, Goldman Sachs has decided it would like give its bailout billions back. "It would send a very good signal if the firm could repay the money," said David Viniar, Goldman's chief financial officer. Guess this means Jon Winkelried can take his Nantucket estate off the market! [Bloomberg via Dealbreaker]
Did Obama Pose For This Hideous Painting Long Ago?
Hamilton Nolan · 02/04/09 09:20AMThe Lufkins Take a Cut, Murdoch Gets a Neighbor
cityfile · 02/04/09 08:37AM
• Society fixtures Dan and Cynthia Lufkin have sliced $3.5 million off the price of their apartment at 455 Central Park West, after first putting it on the market 10 months ago. The five-bedroom spread, which is located inside what was once a 19th-century chapel and features 28-foot-high vaulted ceilings and arched windows overlooking the park, is now listed at $14 million. [Cityfile, Sotheby's]
• The 13th floor apartment located directly below Rupert Murdoch's penthouse at 834 Fifth Avenue has reportedly found a buyer. The 13-room, two-bedroom, four-fireplace co-op, which belongs to the estate of Araxia Buckhantz, is expected to sell for $30 million. [NYO]
• Sandie Tillotson, the co-founder of Nu Skin Enterprises, has "quietly" listed her five-bedroom penthouse at the Time Warner Center for $80 million. Tillotson originally purchased the place for $29 million in 2005. [NYO]
Jean Doumanian Returns to Familiar Territory
cityfile · 02/04/09 08:22AM
Jean Doumanian, the film producer who may be best known for feuding with former business partner Woody Allen several years ago, has a new project in the works. Her production company has acquired the stage and film rights to Mitchell Zuckoff's 2005 book, Ponzi's Scheme, which details the life and times of Charles Ponzi, the charlatan who made off with millions in the 1920s. Naturally, Doumanian thinks the timing is just right for a tale of greed and financial fraud: "The whole ambiance of Boston in the '20s before the Depression has great parallels with what we're seeing today with Madoff and our terrible recession-depression." Presumably she'll have plenty of personal material to draw on, too. When Woody Allen filed suit against her several years ago, he alleged that she and her husband had been providing him with false financial records and had used shady accounting tactics to cheat him out of millions.
Michael Phelps Could Face Criminal Charges
Ryan Tate · 02/04/09 07:43AMFacebook at 5: What the Future Holds
Owen Thomas · 02/04/09 07:30AMHappy Birthday
cityfile · 02/04/09 07:27AM
Actor, comedian, and former Daily Show correspondent Rob Corddry turns 38 today. Singer/songwriter Gavin DeGraw is 32. Retired Giants linebacker (and possible Dancing with the Stars contestant) Lawrence Taylor is 50. Former Vice President Dan Quayle is turning 62. New York Assemblyman Denny Farrell is turning 77. Natalie Imbruglia is 34. Alice Cooper is 61. The rapper Cam'ron is turning 33. And Oscar De La Hoya is 36.
Pay Caps, Canceled Trips, Defections
cityfile · 02/04/09 06:58AM• More details about President Obama's plans to limit Wall Street pay are emerging. So is plenty of criticism. "I don't think the president should paint everyone with the same brush," says JPMorgan's Jamie Dimon. [BN, WSJ, BN]
• Wells Fargo has scrapped plans to host a employee conference in Las Vegas after the bank was pummeled with criticism. [WSJ]
• A dozen top bankers from Merrill-BofA have defected to Deutsche Bank. [TD]
• Lazard's fourth-quarter profits dropped by 50 percent. [DB]
• Daniel Och is doubling down on his hedge fund, Och-Ziff. [WSJ]
• Both Citigroup and the Mets say they're standing by their stadium plan. [NYP]
• Bloomberg LP is laying off staff. [Clusterstock]
• The House will hear testimony about Bernie Madoff today from Harry Markopolos, the investigator who tried to blow the whistle on him. [NYT]
Wasserstein Gets Hitched, A-Rod Gets Jealous
cityfile · 02/04/09 06:42AM
• Bruce Wasserstein tied the knot with a "much younger Asian woman" two weekends ago, although details about the billionaire's new bride remain scarce. [P6]
• Alex Rodriguez is jealous and embarrassed that Madonna has been spending so much time with 22-year-old model Jesus Luz, since it makes him look like he got "dumped for a younger stud." [NYDN]
• The City's Jay Lyon—who was named Brent Tuhton until he changed it—has scored a record contract with Universal. [P6]
• Could Mark Badgley and James Mischka really be breaking up? Who is going to design our Oscar gown? [NYDN]










