A Manhattan judge handed down a 4 1/2-year sentence to Raffaello Follieri this afternoon on wire fraud, money laundering and conspiracy charges. Anne Hathaway's ex-boyfriend is expected to serve his sentence at either Fort Dix or Otisville. (He'll have to cough up a $1,400 fine, too.) But he's really sorry: "I just hope that someday those who have been hurt by my actions will forgive me," he said to the judge through a translator. [People]

The battle over Bianca Jagger's rent-controlled apartment at 530 Park Avenue is finally over, and it looks like Mick Jagger's ex is going to have to start looking for another spread to call home. In an unanimous decision this morning, the Court of Appeals ruled that Jagger's 18th-floor apartment—where she paid $4,600-a-month in rent before her eviction in 2007—couldn't possibly be her "primary residence," because she's only in the U.S. on a tourist visa. Happy hunting! [NYDN]

There are more TV shows than ever devoted to the exploits of rich, privileged brats, reports the Times—even though the acquisitive, cosseted lifestyles of the likes of Blair Waldorf and Chuck Bass are in stark contrast to what's going on in the wider world. But don't blame us, say TV execs, we're just giving the public what it wants, or more specifically, what the most important consumer group—tween girls—wants. It's 11 and 12 year old girls who are "the least psychologically affected by a wildly fluctuating stock market and grim headlines," says sociologist David Grazian, and they have more disposable income than "at any other time in our history." So now you know why every other commercial at the moment is for Clearasil—or indeed why names like Ashley Tisdale and Zac Ephron are as annoyingly familiar as Sarah Palin and Joe Biden.

♦ Cuts have arrived at Hearst: Cathie Black (left) is "going floor by floor at the Hearst Tower to trim costs and staff positions." [WWD]
♦ Lloyd Grove talks to Tina Brown about her new site and the economic climate: "It's pretty scary. It's scary, scary, scary." [Portfolio]
♦ The New York Times Co. reported profits fell 51 percent for the quarter amid the drop in advertising sales. Traffic to the Times website, however, is up. [Bloomberg, AP, NYO]

Have you heard the one about the ghost who haunts the Bowery Hotel and makes the elevators go haywire every night at 1 a.m.? We hadn't either. But that's what a vampire expert is telling people, and just in time for Halloween, too! [HotelChatter]

More confirmation that reality TV's latest star, Stylista's Anne Slowey, is not really the queen of mean she plays on camera: The Transom meets her at the show's premiere and reports that she's "nothing like the icy, stern fashion editor mimicking Meryl Streep mimicking Anna Wintour whom we saw in the previews for the show." And contestant William Buckley reveals: "Anne can party, can party harder than anyone. Trust me, I've seen it. She can drink me under the table." [NYO]

She's only been at Martha Stewart Living Omnimedia for four months, but it looks like co-CEO Wenda Harris Millard might already be clashing with the domestic doyenne herself. Although Millard calls the friction a "healthy debate," insiders are suggesting it's only a matter of time before she leaves MSLO's well-decorated confines and heads back to the online world, where she was previously the chief sales officer for Yahoo!. So what exactly did Wenda do to unleash Martha's wrath? She apparently prefers to delegate tasks, whereas control-freak Martha wants things done her way, which involves digging in and getting her hands dirty. It's an ethos Wenda really would have seen coming if she'd ever watched any of Martha's gardening segments on TV.

We mentioned Michael Wolff's distaste for Tina Brown last week, but today he goes on the offensive. "I think it's preposterous," he starts off when Leon Neyfakh asks him to comment on Brown's new site, The Daily Beast, which competes (to some degree) with Wolff's own Newser.com. "I don't even think it's a rehash of Talk—I think it's a rehash of [CNBC's] Topic A." It gets better! "She's just an old magazine hack... It's like she's been on ice for ten years and suddenly she's been thawed out again." Now we can all look forward to watching Tina strike back in a few books when the Beast reviews Wolff's new book on Rupert Murdoch. [NYO, previously]

Jay-Z and Beyonce leaving 1OAK ... Michael Phelps leaving MTV studios in Times Square ... Juliette Lewis using an ATM in SoHo ... Katie Holmes leaving her apartment building on East 13th ... Uma Thurman shopping in the Village ... Brooke Shields, Kim Raver, and Lindsay Price filming scenes for Lipstick Jungle in the West Village ... Carrie Underwood posing with her wax figure at Madam Tussauds on 42nd Street ... Agyness Deyn and Albert Hammond Jr. walking with a friend ... Donatella Versace leaving the Chanel Mobile Art afterparty at the Waverly Inn ... Kate Bosworth outside the same party ... and Madonna getting out of a helicopter while carrying son David.

Famed British architect Norman Foster has been picked to handle the renovation of the New York Public Library on Fifth Avenue. "It's the greatest project ever," Foster told the Times in an interview. Since the building is a landmark, "its exterior, including its strip windows, will not be altered." One other thing that will also not be altered: The fact that Steve Schwarzman's name is engraved at the library's entrance. New York Public Library president Paul LeClerc says it will continue to be "noted discreetly on its facade." [NYT]

Few billionaires have been spared from the horrors of the financial meltdown (just today it was reported that Warren Buffett has seen his net worth decline by more than $9 billion), but for many, it's vital not to relinquish the most significant status symbol: the luxury yacht. Global yachting company Edmiston & Co. is still receiving new commissions and is currently making 30 superyachts for new owners. So why are big flashy yachts, which cost millions to operate, still in demand? It's the Russians' fault, of course!

Sandy Weill may be preparing to get back in the game: The architect of Citigroup is now "in talks about launching a private-equity fund that would invest in beaten-down financial companies and assets." [WSJ]

♦ Real estate exec Chuck Berman and his wife Melanie paid $6.7 million for a three-bedroom apartment at 15 Central Park West. [Cityfile]
♦ Oscar Schafer, the managing partner of OSS Capital, has lowered the price of his 17th-floor apartment at the Plaza for the second time since June. It's now $14.5 million (down from $18 million), which means he'll be taking a loss on the property if he sells it, since he purchased it for $14.94 million back in May. [NYP]
♦ Rupert Murdoch and Wendi Deng have taken their 11-bedroom Centre Island home off the market. It recently had an asking price of $12.8 mil. [Newsday]

How do you boost interest in your struggling newspaper during these challenging economic times? You get a rock star to write an Op-Ed column! The man who oversees the New York Times' editorial pages, Andrew Rosenthal, says that Bono will write a regular Op-Ed column beginning in 2009. [Radar]

It's Day 2 of the Palin wardrobe scandal and cable pundits continue to bicker about what impact it will have on the presidential race. (Fashion industry types seem to be more focused on whether the RNC got its money's worth.) But there's an interesting footnote to the story. Greg Allen has noticed that the woman who bought Palin various accessories and baby clothing (as well as pacifiers for baby Trig) was Lisa Kline. Not only has Kline come up with outfits for the likes of Britney Spears, it was Kline who was responsible for that leopard-print swimsuit that Paris Hilton wore in her Internet video lampooning John McCain. [DaddyTypes]

Maniacal cable news host Nancy Grace turns 49 today. Also celebrating: Oscar-winning director Ang Lee turns 54. Memoirist Augusten Burroughs is 43. Novelist Michael Crichton turns 66. ABC News correspondent Brian Ross is 60. Spider-Man director Sam Raimi is turning 49. Retired soccer legend Pelé is 68. And "Weird Al" Yankovic is 49.

♦ Guy Ritchie supposedly cried after seeing son Rocco wearing a Yankees t-shirt this week. So sensitive! Or maybe not so much: Ritchie also reportedly described Madonna as "old, fat, ugly and wrinkled," and said she couldn't sing. [Us, NYDN]
♦ Not only did Lindsay Lohan's stint on Ugly Betty get cut short because she didn't get along with America Ferrera, LiLo clashed with everyone else on set, too. Also, she enjoys snipping out photos of herself from the tabloids. [P6]
♦ Jennifer Aniston's publicist is denying she's pregnant. [ET]
♦ Gossip Girl's Taylor Momsen spent four days in the hospital with a "potentially life-threatening throat-infection." But she was miraculously cured and released yesterday afternoon. [Us]

♦ Yesterday's sell-off is expected to continue today. [WSJ]
♦ Even Goldman Sachs is cutting. The firm plans to cut 10 percent of its 32,000 employees. [WSJ]
♦ The glory days of hedge funds are over, as you're probably aware. [NYT]
♦ Credit Suisse reported a $1.08 billion loss during the third quarter. [DB]
♦ The inquiry into the financial crisis on Capitol Hill continues. Today's guest piñata will be Alan Greenspan. [NYT]

Daniel and Isabella were the most popular baby names in New York City in 2007, according to an insanely exhaustive, 81-page report issued today by the city's Department of Health. (So that's what they do when they're not checking restaurants for mice and roaches.) More interesting is the second most-popular name for boys: It's Jayden, which one baby name "expert" attributes to—you guessed it—the "Britney effect." She also adds that the "entire '-aiden' phenomenon has been a huge naming force" over the past year, and she's been seeing an increasing number of parents name their kids Hayden, Caiden, Raiden, and Zaydon. "I'm even hearing Graydon," she says. Consider yourself warned, Mr. Carter! [City Room]

♦ Do Sam Ronson and Lindsay Lohan ever actually stay in one city for more than five minutes? Today they're in Tokyo for Charlotte Ronson's runway show, and to the delight of the audience, LiLo made an appearance. [The Cut]
♦ Don't knock the Real Housewives of Atlanta, pleads Simon Doonan: "Despite the jarringly superficial materialism exhibited throughout this show, Nene and Co. are performing a profound and vital function: It's called consumer confidence." [NYO]
♦ One benefit of the recession? Plentiful sample sales, like Betsey Johnson and Castle Starr. [Missbehave, Fashionista]