Bono and Steve Jobs No Longer BFFs

Owen Thomas · 12/22/08 04:47PM

What did Steve Jobs do to his old buddy Bono? The Irish rock star, once the Apple CEO's adoring buddy, is funding the most credible threat to the iPhone yet.

A New Line for Mischa, Desperate Days for Retail

cityfile · 12/22/08 04:20PM

• In what will probably come as soul-crushing news to Arden Wohl, Mischa Barton is launching a line of headbands with Stacey Lapidus. [WWD]
• How do you rope in shoppers during a recession? Staying open 24 hours a day is one popular approach. [WSJ]
• More bad news for retail: As if the recession wasn't painful enough, snowfall during the final days of the season is expected to make things worse. [WSJ]
• Just in case you missed the news, leggings are back. [LAT]
• Tim Gunn has sent out "videotaped personal pleas" to Giorgio Armani and Donna Karan to urge them to stop using rabbit fur from China. [P6]
• Betsey Johnson is not, in fact, planning a diffusion line. [NYM]
• Sorry, folks: Burger King's meat-scented body spray, is sold out. [Racked]

Three Months of Work, $25 Million

cityfile · 12/22/08 03:53PM

Merrill Lynch CEO John Thain didn't collect a bonus—his request for $10 million quickly turned into a PR disaster—but the same can't be said for some of the execs Thain recruited to the firm. Peter Kraus, who joined the bank in September, resigned last week after the sale of Merrill to Bank of America triggered a $25 million bonus payout, which the Journal helpfully points out, comes out to 0.1 percent of the total amount ($25 billion) BofA collected from American taxpayers as part of the bailout. An even more mind-numbing calculation: Kraus collected roughly $277,000 for every day he worked at the firm. [WSJ]

Hollywood PrivacyWatch: Drew Barrymore (and Jason Segel?)

STV · 12/22/08 03:50PM

12/20 — Celebrated my birthday with friends on Saturday night in Los Feliz and ended up at the last night of Tangiers. Down the street sitting out front eating at Little Dom's was DREW BARRYMORE! She looks hot blonde! She was having dinner with that guy from Forgetting Sarah Marshall and How I Met Your Mother, sorry, too lazy to IMDB him. Are they dating? [Well?Hollywood PrivacyWatch is written by and for Defamer readers; send your sightings to tips@defamer.com.]

The Littlest Chef

cityfile · 12/22/08 03:33PM

Why are TV networks laying off staff? Because it's a lot cheaper to hire five-year-olds, that's why. [Buzzfeed]