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company town

First You Save the Company, Then You Play Golf

FINANCE
• Bear Stearns CEO Jim Cayne rewarded himself for firing the firm's second-in-command by playing his first round of golf in almost three weeks. [NYP]
• Fidelity CEO Edward Johnson's uncertain succession plan claimed another victim as Ellyn McColgan, a longtime exec and onetime heir apparent, got fed up and stepped down. [NYT]
• Were the threats against Goldman Sachs — "Hundreds will die. We are inside. You cannot stop us." — just a prank by three teenage kids? [Newsday]

MEDIA
Portfolio editor-in-chief Joanne Lipman fired deputy editor Jim Impoco for dubbing her "newspaper girl," among other indignities. [WWD]
• Kurt Eichenwald paid at least an additional $1,100 to the young man who featured in his 2005 New York Times article on child pornography. Eichenwald claims that he does not recall the payments. [NYT]
• Englishman James Wood will leave his literary-critic gig at The New Republic to join The New Yorker as a staff writer. [NYT]

LAW
• Mayor Bloomberg was not selected to be a juror for a civil trial involving a taxicab accident and is now back at the office. [NYT]
• How much does it pay to have a joint J.D./M.B.A. degree? Apparently very well. [Above the Law]
• When financial disaster strikes, it's time for a new practice group. Hello, subprime lending! [National Law Journal]

FASHION
• Daniel Ou is the new director of concept development for Gap menswear. [Fashion Week Daily]
• American Eagle is expanding its brand online with videos, a reality show, and a sitcom. [WWD via Fashionista]

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