Of Course Gordon Gekko Is a Hedge-Fund Manager

FINANCE
• Gordon Gekko is back! Michael Douglas will reprise his Oscar-winning Wall Street role, only this time as a hedge-fund magnate. [NYT]
• James Simons tops a list of Wall Street's highest earners. [Forbes]
• Two of Rudy Giuliani's firms represented both a creditor and a debtor in a bankruptcy case, a possible conflict of interest that was not disclosed to the judge. [WSJ]

MEDIA
• Two former Dow Jones executives speak out against News Corp. [ WSJ]
• Walter Mossberg, the personal-tech columnist at the Wall Street Journal, recently signed a $1 million a year contract, perhaps the highest in print journalism. [NYer]
• The CEO of Vibe, Eric Gertler, quit Friday to pursue his own online project. Layoffs are expected on both the editorial and business sides. [WWD]

FASHION
• Liz Claiborne buys Narciso Rodriguez for $12 million dollars. [NYT]
• Gisele is negotiating a lingerie line with H&M — as soon as her Victoria's Secret contract expires. [NYP]
• Despite her Oscar fashion snafu, Jennifer Hudson is performing tonight at the Costume Institute Gala. [Fashion Week Daily]

LAW
• By 4 p.m., your court reporter is exhausted. [NYP]
• Even firms with the highest profits per partner are becoming vulnerable to the lateral market. [The American Lawyer]