Ex–Martha Stewart CEO Is Out and Lunching

Photo: Getty Images

MEDIA
• Martha Stewart Living Omnimedia chief Susan Lyne is resigning, but it might not be the end of her career in magazines: She's having lunch with Time Inc. CEO Anne Moore next week. Is she being tapped as Moore's successor? [NYP]
Vogue's design director and 30-year Condé Nast veteran Charles Churchward is leaving his post to focus on his own projects. Of course he wouldn't dare leave until the massive September issue has been shipped to the printer. [WWD]
• Yesterday on Fox News, Michelle Malkin was talking about potential First Lady Michelle Obama, saying, "It's not just Republicans who are criticizing some of her comments, but also statements have been made in the left-leaning blog Salon about her comments." But … actually no, Salon has never run a blog post like that. [NYO]

FINANCE
• The FBI has ordered more than two dozen of its field offices to stop probing some financial crimes so agents can focus on the subprime crisis. "If you're seeing a significant crime problem, you have to move resources," an FBI spokesperson said. "We've got a big problem with mortgage fraud." [Bloomberg]
• Bear Stearns lacrosse team trounced Lehman Brothers 11-4. An ominous sign for Lehman? [Bloomberg]
• Hedge funds are bracing for more withdrawals at the end of June, which could have ripple effects. [WSJ]

REAL ESTATE
• Who done it? Clues embedded in a revamped Upper East Side apartment send the family that is living there on a scavenger hunt. [NYT]
• Realtors say Sex and the City is just as pornographic about real estate as it is about shoes. [NYS]
Heidi Klum sells her six-room co-op on Bank Street for $5.35 million, while Warner Music Group chairman Lyor Cohen is spending $6.8 million for a teardown in the Hamptons. [NYP]

LAW
• It's five o'clock somewhere: Hogan & Hartson associates have a camping-themed happy hour today at the office. [Above the Law]
• Cha-ching! New York's 1,250 judges get their first pay raise in ten years. [NYT]
• Can law firms retain good people at a time when profits per partner and the bottom line are focused on with laserlike intensity? [Legal Blog Watch]