Oprah Will Eat Ellen DeGeneres for Breakfast

MEDIA
• CNBC's Dylan Ratigan proposes a toast at the anniversary of his show Fast Money: "Here's to destroying … well, 'destroying Fox' is what I was going to say, to be totally honest about it. And I was going to say something even more profane than that except there's press in the room." [Mixed Media/Portfolio]
• Oprah Winfrey won't stand for Ellen taking her place as America's favorite TV personality. The Queen of Talk announced plans to start her own network. And what's it called? OWN: The Oprah Winfrey Network. Which is only appropriate for a woman worth upwards of $2.5 billion. [HuffPo, NYP]
• Will the Academy Awards suffer the same fate as the Golden Globes? WGA president Patric Verrone confirmed the guild has no plans to give the Oscars a pass if the strike hasn't been settled, and it's still unclear whether the Screen Actors Guild will cross picket lines to attend the awards. [B&C]

FINANCE
• A new study suggests companies with hotter CEOs make hotter profits. This explains so much! Also, it kind of bodes well for Merrill Lynch, we don't mind saying. (Hey John Thain! Call us!) [Crossing Wall Street via DealBreaker]
• Bank of America, hot on the heels of buying out Countrywide, announced plans to fire another 650 workers and sell their struggling prime brokerage. [NYT]
• Goldman banker Matt L'Heureux, head of the firm's tech banking division, retired yesterday at age 45. Well done, sir! [Deal Journal/WSJ]

LAW
• Weil Gotshal brought in a nationally renowned expert to teach the firm about diversity: Star Jones! [Above the Law]
• Can having children early help a female lawyer's prospects later on? [Law Blog/WSJ]
• Former D'Amato associate Donna Hughes, who was attacked and stabbed by her husband in 2002, finally won her court case and was awarded $6 million in damages. [New York Law Journal]

FASHION
• Isaac Mizrahi will join the new army at Liz Claiborne as creative director. [WWD]
• Jonathan Saunders, the latest hot Brit import, is rumored to be the next Target designer. [British Vogue]
• Rihanna is appearing at H&M on Fifth Avenue on the 31st. [Nitrolicious]