money

'Times' Star System Lives On — for Four Years at a Time

Jesse · 05/05/06 10:12AM

Thought the star system at The New York Times died with Howell Raines' editorship? Perhaps in the public eye, yes. But in the way that really matters — the pocketbook — far from it. Since 1990, it turns out, the Times has awarding favored writers a special "senior writer" status — which is to say, a we-like-you cash bonus. But there's a problem! With no one moving out of the senior-writer slots, there's no way to move new people in. And so there was a memo from Bill Keller yesterday: Senior writer terms will now last for only four years, after which you might be renewed but might not be. This way, there'll be new slots opening regularly, and the chance for new hotshots to get their bonuses.

Supreme Court Dignifies Anna Nicole's Existence

Jessica · 05/01/06 12:01PM

The Supreme Court ruled today that teetering widow Anna Nicole Smith could pursue millions from the oil fortune of her late husband, J. Howard Marshall II. As a 26-year-old stripper, Smith married Marshall in 1994 when he was 89-years-old. Marshall died a year later, and Smith claimed he had promised her half of his $1.6 billion estate. Naturally, Marshall's family took issue, and the two sides have been entrenched in court ever since.

Senate Promises New Yorkers Free Money!

Jesse · 04/27/06 01:55PM

At first we thought it was just a little bit ridiculous about the Senate giving everyone a hundred bucks only because gas bills are too high. (Hey, Senate, our bar tabs are too high lately; can we get some cash to cover that?) But then we realized it's even more ridiculous: The story we read says every taxpayer will get this check, even all us New Yorkers who don't buy gas in the first place. Which, come to think of it, is a kind of ridiculousness we can entirely get behind.

Wait — Editors Have Better Gigs Than Actuaries?

Jessica · 04/13/06 10:05AM

Just to bang the final nail in your coffin of self-esteem issues, Money magazine has their annual list of the 50 best jobs in America. Freelancers, take note: that paycheck you've been waiting on for three months? What ultimately stands between you and your money is a new pair of glasses.

The Nanny Diaries: Katie Couric Edition

Jessica · 04/07/06 10:23AM

Katie Couric's deal at CBS may have her making $60,000 per day, but that doesn't mean she can throw her money around — she's got two daughters and hundreds of stilletos to provide for. Couric has no choice but to keep a strict budget, as a reader working with an uptown nanny farm learns:

Get Yer Tax-Free Socks!

Jesse · 04/03/06 09:25AM

The state portion of sales tax on clothes and shoes disappeared Saturday, at least on clothes or shoes that cost less than $110. Coming a year after the city removed its portion of the tax, clothes are shoes are now entirely sales tax-free in New York City. Yippee! To celebrate, we thought we'd go out and buy ourselves what we've really been needing: a fancy new cell phone. Until we realized there'd still be tax on that, because it's not clothes or shoes. Then we thought maybe we'd get something else we could really use: a good pair of jeans. Until we realized good jeans wouldn't be cheap enough to go untaxed, either. How to celebrate, then? Finally it hit us. We needed new socks. Celebratory, sales tax-free socks. Woo-hoo.

Billionaire Jews Club

Jessica · 03/13/06 08:38AM

We've spent far too much time poring over Forbes' dangerous list of the world's billionaires — like the blinking lights of a Nintendo, the reality of our own poverty triggered seizures. But after we took our medication, we were able to narrow down the list to those claiming residence in New York. And of those 50 New York billionaires, our somewhat unconfirmed research pulls up 29 members of the tribe. Only 29?! For shame!

And at Night, They Sleep on Piles of Benjamins

Jessica · 03/06/06 08:24AM


Though we may choose to ignore it, transit workers and the MTA have yet to reach an actual agreement. Though we believe (or pray, anyhow) that the situation won't plummet to the hellish depths of December's strike, we found the above chart rather helpful. It's not exactly news but, should things get ugly, this is the sort of information you need to appropriately direct your anger. If we hate together, we can win together.

No Carnations for Bonnie Fuller

Jessica · 03/02/06 11:35AM

Like manna from heaven, the image at right appeared in our mailbox this morning (click to enlarge). It appears to be a misplaced receipt for a $400 order of flowers sent to AMI editorial director Bonnie Fuller from her loving husband, Michael.

More Fun With Caruso's 'Men's Journal' Contract: Expenses for the Masses

Jesse · 02/27/06 01:20PM

Last week we posted an inventory of Michael Caruso's guaranteed perks and bonuses when he was editor-in-chief of Men's Journal — guaranteed biz-class air travel, $10,000 for sticking to his budget, $10,000 for winning a National Magazine Award, and so on. For the rank-and-file, though, life is less pleasant. An MJ freelancer sends along the magazine's expense guidelines for normal folks, from which we learn that air and car-rental upgrades will never be reimbursed, yellow cabs and not car services must be used in New York, magazine and newspaper purchases can't be expensed, and — this is really our favorite part — restaurant tips will only be reimbursed up to 15 percent.

How the Other Half Lives: Michael Caruso Edition

Jesse · 02/24/06 02:32PM

We, too, got our grubby hands on ousted Men's Journal EIC Michael Caruso's wrongful-termination lawsuit against Wenner Media, and we must say it's a delightful read. Our favorite part, though, is the inclusion of Caruso's complete employment contract, executed on November 17, 2003, between Caruso and Wenner Media SVP Robert Kent Browridge.

Wenner Media Pays You Not to Work There

Jesse · 02/24/06 09:48AM

WWD's towering inferno, Jeff Bercovici, gets his hands on Michael Caruso wrongful-termination suit against Wenner Media for today's paper, and he fleshes out the details of what the ousted Men's Journal editor is charging — and what he's demanding.

When Media Whores Become Charity Whores

Jessica · 02/21/06 12:24PM

Slate's annual list of the 60 largest charitable contributions of 2005 is out: the late Cordelia Scaife May emerges as the biggest contributor, having left her $404 million estate to charity; Bill and Melinda Gates come in second with $320 million. But what about our favorite media moguls?

'Times' Remembers the I-Bankers Who Remember the Neediest

Jesse · 02/20/06 09:23AM

The Times reported yesterday on the completion of its 94th annual Neediest Cases Fund charity drive, which from November through the start of this month raised a bit more than $7 million. The paper was particularly impressed with the donation corralled by a group of three young investment bankers — or, judging from the accompanying photo, perhaps two young investment bankers and one extra from Growing Up Gotti — who presented the Fund with $236,000 raised from fellow analysts at Citigroup, Goldman Sachs, Lehman Brothers, and CIBC. Explained the Times:

New York's Finest — and Cheapest

Jesse · 01/10/06 09:58AM

You know how those run-of-the-mill beat cops — young guys, presumably rookies — standing around on, say, the West Fourth subway platform or near the Astor Place cube, just keeping an eye on things, always seem thoroughly unhappy? How sometimes you start to feel a little Bedford Fallsish and try to catch their eye as you walk past so you can say, "Mornin', officer," but they always sullenly look away? We always assumed that's because, well, they're New Yorkers, and New Yorkers are always a little bit sullen, and also because it must suck to spend hours at a time standing up, walking around, in the cold, and not really doing anything.

It's Time to Find Those Nasty Receipts

Jesse · 01/06/06 11:55AM

One of the great journalistic perks in New York is a Conde Nast expense account. Lunches, dinners, trips, cars, trinkets: It's all on Si.