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Fannie and Freddie Get Some Good News
The mortgage giants have seen their largest profits in ten years. Plus, who buys a friend a $3 million apartment, and who wants a truck depot in Soho?
Posted 08/27/08 in Daily Intel : Company Town
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‘People’ Gets the Last Giggle Over Brangelina Baby Pics
Turns out the issue whose cover displayed little Vivienne and Knox sold 2.6 million copies, the fourth-largest selling issue of all time for the mag. Plus, the rest of our industry news roundup.
Posted 08/22/08 in Daily Intel : Company Town
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McCain Campaign Rewarding Commenting Spammers
Plus, the latest on Wall Street, Gold Street, and your street, in our daily industry roundup.
Posted 08/07/08 in Daily Intel : Company Town
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If Martha Stewart Had Only One Arm, How Would She Garden and Decoupage?
Martha Stewart's arm appeared missing in a broadcast this morning, worrying the nation. Then it came back, and we were relieved. But there's still lots to worry about in our daily roundup of media, finance, real-estate, and law news.
Posted 08/06/08 in Daily Intel : Company Town
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There May Be a Day When Port Authority Is Nice to Look At
We know, we know — dare to dream, right? But there are proposals to build above it, and the renderings look lovely. Plus, news from the finance, law, real estate and media industries, in our daily roundup.
Posted 07/25/08 in Daily Intel : Company Town
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Horizon Strategy’s John Devaney Says He Is ‘Bleeding, Personally’ After Loss of Hedge Fund
Clearly, he doesn't know Daily Intel's golden rule. That and more, in our daily roundup of need-to-know news from the fields of finance, media, law, and real estate.
Posted 07/10/08 in Daily Intel : Company Town
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Ashley Alexandra Dupré Drops Suit Against ‘Girls Gone Wild’
Technically, the famous call girl is forced to admit, she exploited herself. Plus! Boutique hotels in Brooklyn are fighting, NBC gets a bargain on the Weather Channel, and we all may all end up paying for the Fed bailout of Bear Stearns, in our daily roundup of law, real estate, media and finance news.
Posted 07/07/08 in Daily Intel : Company Town
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Breaking: Wasps Find Jews Vulgar
Jamie Johnson is tries to get rich Wasps to be anti-Semitic, but they're too Waspy.
Posted 05/19/08 in Daily Intel : In Other News
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Right Now, Sean Avery Is Getting Anna Wintour Starbucks
The injured Ranger begins his tour of duty at 'Vogue,' Carl Icahn's battle with Yahoo heats up, and Donald Trump is in another fight … in today's roundup of media, finance, real-estate and law news.
Posted 05/16/08 in Daily Intel : Company Town
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If Murdoch Really Hires a New ‘WSJ’ Managing Editor, Who Will It Be?
Citigroup's ban on fruit, ice-cream-truck wars, praise for Frank Gehry, and more in our daily industry roundup.
Posted 05/15/08 in Daily Intel : Company Town
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He's an Icahnimal!
Carl Icahn may be getting ready to sink his teeth into Yahoo, 'Newsday' girds intself for new ownership, and 'Vogue' editor Hamish Bowles within prime stalking distance of Daily Intel editor Chris Rovzar in our daily roundup of finance, media, law, and real-estate news.
Posted 05/14/08 in Daily Intel : Company Town
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Rupert Murdoch Is Full of Vim, Vigor and Probably Viagra
The media mogul seems gleeful about life (and also his wife!) in a 'Newsweek' profile, Bank of America's CEO is startled by losses, a fifth-grade graduation ceremony gets ugly, and a hedge-funder pays $801,000 for a literal closet in today's collection of media, finance, law, and real-estate news.
Posted 04/21/08 in Daily Intel : Company Town
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New York Newspapers Tanking More Slowly Than Papers Elsewhere
MEDIA • Of the top twenty American newspapers, the circulation of New York ones suffered less than others over the past few years. [Mixed Media/Portfolio] • We hear ... that gossip Website Jossip.com is up for sale. [NYP] • And that ESPN The Magazine is beefing up its fashion coverage. [WWD]
Posted 03/13/08 in Daily Intel : Company Town
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Angelo Mozilo Just Wants to Help People
LAW • After testifying in front of the House Committee on Government and Oversight Reform last week about the gargantuan pay package he picked up while his company hemorrhaged money, Countrywide CEO Angelo Mozilo made Congress a nice little offer: "Mr. Mozilo said he had left a card in each Congressional office with a help line for constituents having problems with their loans. He added that if the number didn’t work, “call me— I take this very seriously.’” [NYT] • Since the federal death-penalty statute was revived in 1998, New York federal juries have been reluctant to impose the death sentence. [NYT] • You know those ads for legal firms in the Metro? Yeah, they're really not all that effective. [Legal Blog Watch]
Posted 03/10/08 in Daily Intel : Company Town
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Another Sad Day for Schwarzman
FINANCE • Where has all of Steve Schwarzman's money gone? A report saying that his fund would earn less than half of what was predicted caused Blackstone's stock price to tumble. [NYP] • Former Countrywide Financial, Citigroup, and Merrill Lynch execs get ready to explain to Congress why they got huge paychecks as their shareholders lost billions. [DealBook/NYT] • Financier Carl Icahn ups his stake in Motorola. [DealBook/NYT]
Posted 03/07/08 in Daily Intel : Company Town
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CEO Astrology: Reading the Stars for Barry Diller, John Thain, Chuck Prince, and Steve Schwarzman
Many of you know celebrity astrologer Susan Miller as the uncannily accurate predictor of your fate. You're in good company: She's got A-listers like Kirsten Dunst and Orlando Bloom paying her to do their charts and gets fifteen million page views a month on her Website, Astrologyzone. She's asked to analyze the stars for actors, musicians, and starlets all the time — but when we got the chance to talk with her, we wanted to know what the future holds for a group of guys even nearer and dearer to our heart. Guys like embattled IAC CEO Barry Diller, Blackstone CEO Steven Schwarzman, ousted Citigroup CEO Chuck Prince, and Merrill Lynch newbie John Thain. After all, these people have much more power to wreak havoc in our lives if the stars choose not to shine on them. After the jump, read Miller's uncannily prescient analysis (it would be more precise if she knew the times of day they were born) and learn what warnings these four financial powerhouses need to heed if they want to come out of 2008 on top.
Posted 03/05/08 in Daily Intel : White Men With Money
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Steve Schwarzman Endeavors To Look More Human
Blackstone honcho Stephen Schwarzman seems to be conducting a little public-relations campaign to sweeten his image. Fresh off a New Yorker profile in which "the designated villain of an era on Wall Street" came across as semi-endearing, he took the Times along on a trip to the Sacred Heart School in the Bronx, to which he recently gave $5 million. “I used to do homework and got a 90, but not much above that,” Uncle Stevie told one fourth-grader he has reportedly been corresponding with, according to the Times. “But I couldn’t get 96’s like you did.” Explaining why he had chosen this school, which is run by the archdiocese, to bestow his wealth, the gagillionaire cited the 98 percent graduation rate and the diverse population. Then, for a second, the old Schwarzman sneaked out: “You can fire people,” he said. “It’s nonunion.” Schwarzman’s School Ties [DealBook/NYT] Earlier: On the Inside, Steve Schwarzman Is Still Just a Short Kid From Philly
Posted 02/29/08 in Daily Intel : White Men With Money
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Just in Time for ‘Times’ McCain Scuffle, ‘Time’ Editor Says Papers Shouldn't Endorse Candidates
MEDIA • What is the New York Police Department's policy for awarding press credentials? Journalists wonder the same thing. [NYT] • Time managing editor Rick Stengel ponders why newspapers endorse political candidates at a time when news consumers doubt the objectivity of the media. [Time] • Details of the deal that Newsweek struck with George W. Bush's former brain have emerged: It's a two-year, sixteen-column contract. [NYO]
Posted 02/21/08 in Daily Intel : Company Town
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Eli Manning's Little Town Blues Have Melted Away
Eli Manning and Yogi Berra sang "New York, New York" together at Rao's. Male madam David Forest says Marc Jacobs used to employ his services. Mariah Carey shot a video on the rooftop of Lenny Kravitz's Crosby Street apartment. Mayor Bloomberg celebrated his 65th birthday with Steven Ratner and others at Michael's. R.E.M. front man Michel Stipe got into a go-cart accident two weeks ago but is fine now. Blackstone Group co-founder Pete Peterson sold his River House digs to financier Jeffrey Leeds for $10 million.
Posted 02/15/08 in Daily Intel : Gossipmonger
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The Internet Wishes Steve Schwarzman a ‘Happy’ Birthday
Stephen Schwarzman's 60th-birthday party at the Park Avenue Armory last year, replete with its lobsters and baked Alaska, Patti LaBelle and Rod Stewart, has, fairly or unfairly, become a symbol of the wealth and self-indulgence of the private-equity set and made the Blackstone CEO "the designated villain of an era on Wall Street," as James Stewart put it recently in The New Yorker. Exactly one year later, with the country in the midst of a credit crunch on the verge of a recession, people across the Internet are heralding Schwarzman's birthday as a turning point and offering the multi-billionaire some very special birthday wishes — with a side of Schadenfreude. Reuters gloatingly notes that "Blackstone’s stock hasn’t topped its opening day price, politicians have proposed restrictions on the industry’s tax status, and a credit crunch has made financing deals difficult" in an article headlined "Happy Birthday, Mr. Schwarzman." Portfolio made a musical, interactive card that readers can use to send him messages. "Still down with EOP? :)" says one signed "Sam."
Posted 02/14/08 in Daily Intel : White Men With Money
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