Print Organizations Band Together, But Who Will Remain on the Island?

• Print organizations make like Survivor: The New York Times, Hearst, Tribune, and Gannet form an alliance to back a new online company called quadrantONE. [USAT]
Star magazine makes no apologies for paying sources for scoops. In fact, “right underneath [Candace] Trunzo’s editor’s note in the current issue is an unbridled pitch with dollar signs around the edges.” [NYP]
• Bad blood is brewing between Barron’s and CNBC after the publication ran a critical story about Mad Money’s Jim Cramer. [CJR]

•Note to investors: Long-term bonds don’t always function like ATMs! Goldman Sachs, Lehman Brothers, and Merrill Lynch tell clients that their auction-rate securities are frozen — along with their cash. [NYT]
• Quite a week for Warren Buffett. After offering to save the market on Tuesday, the Oracle of Omaha now reveals that his Berkshire Hathaway is Kraft Food’s biggest investor. [7B784C1460-8525-4B41-A1AE-79F8D7ADB242%7D”>MarketWatch]
• As Federal Reserve chairman Ben Bernanke delivers the glum news that economy is going to slow down if the credit crunch continues, Wall Street weathermen predict a 50 percent chance of a recession. [NYT]

• A developing criminal investigation is looking into last summer’s collapse of internal Bear Sterns hedge funds. [WSJ]
• Law firms report record-breaking growth in 2007, including at Manhattan’s Weil, Gotshal & Manges, whose revenue increased to $1.175 billion. []
• New York Law School lectures can now be downloaded for free on iTunes U, giving students absolutely no reason to get out of bed in the morning. [NYLS]

Sadly, we will no longer be running fashion links in Company Town. For your full fix of news, gossip, and pictures, hop on over to our newly permanent fashion blog, The Cut.