Manhattan Rents Finally Dropping

REAL ESTATE
• Hallelujah! Manhattan rent is down, except for the prices of one-bedroom apartments, which got more expensive. Another year of roommates, ho-hum. [Real Deal]
• Meanwhile, Williamsburg is broke. [Gawker]
• Richard Gere, yes, that Richard Gere, is having issues with zoning laws in Bedford, where he's opened up a café and bakery. [AP]

FINANCE
• Bear Stearns chairman Jimmy Cayne is going to receive $4.6 million for selling more than $61 million of Bear shares last month. [Financial News]
• Stephen Feinberg, the blue-collar billionaire founder of private-equity firm Cerberus Capital Management, goes on the record for his first in-depth interview. [DealBook/NYT]
• It's tax day! And Dunkin' Donuts is offering you a bonus: a free "tax loophole" (i.e., a free doughnut) when you purchase a cup of coffee. [Boston Globe]

MEDIA
• The blogger that reported that Obama said that small-town voters bitter over their economic circumstances "cling to guns or religion or antipathy to people who aren't like them" is actually an Obama supporter, but she decided if she didn't report the comments in a blog post, she wouldn't be doing her job. But now speculators are wondering if she's a Clinton mole… [NYT]
• Richard Butler, the British journalist who was kidnapped two months ago while on assignment for 60 Minutes, was freed yesterday and is in good health. [WP]
• News, business, and luxury magazines had a bad first quarter, while ad pages in publications that cover food are being gobbled up. [NYP]

LAW
• Christie's sale of the "most important antique jewelry in history" was halted by a court. [NYT]
• Mayor Bloomberg reaches an agreement with Wal-Mart about tracking the sale of firearms, including videotaping gun sales and conducting criminal-background checks on gun salesmen. [NYT]
• Davis Polk ups its bonuses to associates who take time off to clerk to $70,000, joining firms like Paul Weiss, Cravath and Sullivan and Cromwell. [Above the Law]