Associates' Pay Up, Partners' Profits Down?

LAW
• Aaron Charney had secret settlement talks with Sullivan & Cromwell as late as January 31. A sticking point: the destruction of Charney's home hard-drive. [Above the Law]
• Former Thacher Proffitt & Wood associate pleads guilty to insider trading — firm happy to learn Amir Rosenthal wasn't using client information. [NYLJ]
• Will partner profits stay flat because of associate pay raises? [NLJ via DealBook/NYT]

MEDIA
• Rupert Murdoch says he canned Judith Regan because she was "not a team player." That's one way to put it. [NYDN]
• Complete Playboy to come out on DVD. Put it next to your complete New Yorker, still gathering dust on the bookshelf. [WSJ]
NYT managing editor Jill Abramson will likely be called in Libby trial. [E&P]

FINANCE
• New York Federal Reserve Bank chairman is "the anti-Eliot": calm, clinical, "elbow-less." [NYT]
• Fortress Investment Group becomes the first hedge fund to be publicly traded, stock jumps 70 percent by mid-morning. [NYT]
• Here's a breakdown of who gets paid what at a hedge fund. [Bankers Ball via DealBreaker]

FASHION
• Check out our complete coverage of Fall 2007 Fashion Week.