Ad Agencies Better Figure Out the Internet Right Quick

MEDIA
• Nike abandons its longtime ad agency Wieden + Kennedy to search for a more digital-savvy firm; Madison Avenue fears its own Internet ignorance. [WSJ]
• Has Tribune Co. finally settled on Sam Zell as a buyer? [WSJ]
• Sharing a Daytime Emmy with another winner? The National Academy of TV Arts & Sciences is charging $350 for a second statuette. [Variety via Mediabistro]
Life magazine is dead for the third time. Time Inc. announced today that it will discontinue the Life Sunday newspaper supplement on April 20. [Time Inc.]

FINANCE
• Citigroup plans to cut or relocate as many as 15,000 jobs to cheap places like India and Buffalo. [NYT]
• Blackstone's new ticker: BX, as in bucks. [Deal Journal/WSJ]
• Another round in the Henry Blodget–Jim Cramer match. This time Blodget (a New York contributor) says Cramer's (a New York columnist) recent comments about his trading days could "threaten [his] career." [Slate]

LAW
• You know those ads where Coke managers ask lawyers whether they can sue Coke Zero for "taste infringement"? Turns out Coke punked its own lawyers. [Fulton County Daily Report]
• Biovail fires Kasowitz, Benson from its high-profile hedge-fund case. The firm may have used protected documents to help bring the suit. [American Lawyer]
• Manhattan judge Richard Casey, the nation's first blind federal trial judge, died late last week. Obit writer heroically avoids "justice is blind" cliché. [AP/Yahoo]

FASHION
• Turns out Madonna's H&M line is a hit — with drag queens. [Fashionista]
• Kate Moss fans rejoice: The supermodel will make an appearance at Barneys New York on May 8 to launch her Topshop capsule collection at the store. [Fashion Week Daily]
• Bulgari's renovation of its 57th Street store is complete and includes automatic sliding doors to attract the masses. [The Shophound