Gareth Pugh Dazzles But Doesn't Sell

FASHION
Gareth Pugh, the darling of London Fashion Week, has yet to turn his critical acclaim into commercial success — he hasn’t sold one dress. [British Vogue]
• Pete Doherty continues his rise from junkie rocker to fashion "It" boy as he graces the cover of this month’s Vogue Homme. [WWD]
• St. John's abandons its youth outreach program — sexier, fitted clothing modeled by Angela Jolie — and returns to its conservative, older-woman roots. [LAT]

MEDIA
• Race to replace Paul Steiger heats up: Marcus Brauchli, Daniel Hertzberg, and Paul Ingrassia seen as top three candidates to become managing editor of the WSJ. [Talking Biz News via Romenesko]
• Bravo buys Television Without Pity and promises not to mess with its mean-spirited fun. [NYT]
• Annie Leibovitz sells the Paris apartment she bought for Susan Sontag to Rolling Stone founder Jann Wenner. [WWD]

LAW
• Canaries in the coal mine, or buzzards trolling for blood? Big firms respond to subprime crisis by beefing up their bankruptcy divisions. [Law Blog/WSJ]
• Should in-house council take a stand against inflated associate fees? [Corporate Council]
• Ted Olson, Chris Cox, or Patrick Fitzgerald? These are just three names being tossed around as possible replacements for Attorney General Alberto Gonzales — if he goes. [Law Blog/WSJ]

FINANCE
• The Blackstone Group may go public, but that doesn't mean it will reveal much about its business practices. [NYT]
• Banned broker-dealer Kevin Quinn, who left Jeffries & Co. in December for overstepping the bounds of client entertainment, opened his own hedge fund in Boston. [NYP]
• The perfect present for the CEO who has everything? Ken Lay's desk, on eBay at $25,000. [eBay via Reuters/CNNMoney]