Man the Buckets! Long Term Capital Is (Sort Of) Back!

FINANCE
• Some of Long Term Capital's former executives are making another go of it with a new fund, Quantitative Alternatives. [Bloomberg via DealBook/NYT]
• Morgan Stanley will pay $8 million to settle federal fraud charges over its alleged failure to get the best prices possible for retail stock investors. [AP via NYT]
• The SEC will announce Monday whether it will appeal a court ruling that overturns the "Merrill Lynch" rule, allowing brokers to offer fee-based services to clients without being registered as financial advisers. [NYP]

MEDIA
• After only ten days at 50 cents, the Post is resetting its price to 25 cents. The Daily News, which cut its cost to 25 cents, will soon return to the 50 cents. [NYT]
• Chris Albrecht's forced departure from HBO comes when the network is losing its flagship program, The Sopranos, and trying to launch a slate of new shows. [NYT]
• If Reuters and Thomson merge, Dow Jones Newswire will have one less significant customer. [WSJ]

LAW
• An associate at Stroock sent out an alarming e-mail to all firm personnel. Has he flipped out, or was it a prank? [Above the Law]
• If you'll never make partner or you're unhappy as an associate, you're in a dead-end job. [National Law Journal]
• Stuart Saft has left Wolf Haldenstein after eighteen years to expand the real-estate practice as a partner at LeBoeuf. [NYP]

FASHION
• Mary-Kate and Ashley Olsen will host the CFDA dinner. [Fashionista]
• The hot new body part? The clavicle. [NYT]
• Jil Sander's sales have taken a turn for the better. [British Vogue]