Sandy Weill Pulls Golden Carpet From Underneath Charles Prince

Sandy Weill
Photo: Getty Images

FINANCE

• Former Citigroup chairman Sanford Weill says that his successor, Charles Prince, was perhaps not the right guy to sail the firm's ship: "I certainly have responsibility for working with the board in devising a plan of succession, and I would not give myself very good grades on that." [FT]

• Everyone, relax: The banks are doing much better than news reports would suggest. [Economist]

• The owner of the Madison Avenue land where the Bear Stearns building sits is kicking the bank while it's down: The owner filed a law suit saying that the firm breached an agreement that gives the property holder the right to make the first offer for the building. [CNN]

MEDIA
• Presidential hopeful John McCain released his medical records to the media this morning, but his campaign decided not to let the New York Times be one of the first outlets to have access. [NYT]
The Wall Street Journal is moving away from Wall Street as the broadsheet prepares to shack up at the News Corp. building in midtown come next year. [DealBreaker]
• Is Time Warner going to merge with NBC Universal? [Media Money]

REAL ESTATE
• The Verizon building at 375 Pearl Street is being reclad, and everyone seems pretty excited about it. After all, the building has been dubbed the "ugliest skyscraper" in New York. [City Room/NYT]
• Meanwhile, Harlem's Kalahri building is often cited as the ugliest new condo in the city. [Curbed]
• Details on Frank Gehry's Beekman Tower have emerged. [Curbed]

LAW
• New York firm Milberg Weiss is being sued for allegedly obtaining $251 million in attorney fees through illegal payments to name plaintiffs. [Law.com]
• A number of lawyers are leaving the profession for other job fields. [Law.com]
• This whole downsizing trend for summer-associate programs that's been rocking the legal world lately might be a bit overly alarmist. [Above the Law]