When Portfolio lost Gabe Sherman to the New Republic, the troubled Conde Nast business magazine claimed the young reporter would remain as a contributing editor. (At this point, is anybody not a contributing editor to Joanne Lipman's free-spending title?) Portfolio, which has lost a slew of writers despite lavish contracts, seemed to save face, at a price. Which would make it embarrassing if, as we're hearing, Portfolio's golden boy hadn't in fact come to terms. Some magazines are so toxic that they can't even pay people to do nothing. Hear anything?

We noticed last night—and WWD notes today—that Conde Nast Portfolio staffer Gabe Sherman (also) works at The New Republic now? We're only judging by, you know, the sudden appearance of his byline over there. Speaking of bylines, he's already gotten a quarter of the bylines—1!—at TNR that, by our count, he got since signing up at Portfolio before launch—4! He'll "stay on" as a "contributing editor" at Portfolio. Oh, I've heard of deals like that when you quit! [TNR]