Hedi and LVMH: Together at Last!

FASHION
• Hedi Slimane is back in talks with LVMH to launch his own fashion house. Everyone, commence jumping up and down. [WWD]
• IMG is behind Bravo’s new model show but won’t be giving the winner a contract. [Fashionista]
• Not even Cavalli can rev up H&M’s sales. [NYP]

FINANCE
• Goldman's bonus pot: $20.2 billion. That's an average of $661,000 per employee. Why did we go into journalism again? Even their investors can't complain — Goldman just turned in record earnings yet again. [DealBook/NYT, Forbes]
• The Feds began a big probe into Bear Stearns. Apparently some Bear insiders may have gotten the chance to pull their money from the firm's exploding hedge funds, while everyone else was blocked. As many as 140 people at James Cayne's shop may come under scrutiny. [BusinessWeek]
• Speaking of James Cayne, so … this probably isn't him. But it's still the funniest video we've ever seen! (NSFW) [DealBreaker]

MEDIA
• The Dow Jones sale is finally over and done with, but the battle of the Bancrofts rages on. Murdoch memorably won the sale by saying he'd pay the family's fees, but his $30 million burnt offering came in $3 million short. You know it's old money when the family acts all entitled — and then balks at small details like actually paying their lawyers. [Deal Journal/WSJ]
• Somehow CNN just can't get these Obama and Osama guys straight. Journalism is hard! And low-paying! [Mixed Media/Portfolio]
• Karl Rove's memoir isn't bringing in the $3 million he hoped. Given his hackwork for Newsweek, we can't imagine why. But it's still hard to believe even Murdoch won't pony up — have the partners in crime suffered a falling-out? [Crain's NY]

LAW
• Bill Clinton, our next Supreme Court Justice? Talk about continuing the dynasty! [Legal Times, Law Blog/WSJ]
• Dewey & LeBoeuf has little Hitler problem. When one lawyer sent out a request for a German translation and got a number of quick responses, partner Stephen Best celebrated with an ill-advised company-wide BlackBerry response: "Zieg Heil!!!!!!" Just in case you're wondering, that's worth a couple of years in jail in Germany. [Above the Law]
• There's nothing like a private-school fund-raiser to make lawyers feel middle-class, especially when their Wall Street peers — or rather, masters — keep bidding up all the good stuff. [American Lawyer]