Lehman Continues Staff Cuts

FINANCE
• Michael Phelps made waves at the JPMorgan tower yesterday as he took the stage at the bank's corporate headquarters to field questions from the firm's employees. This should come as no surprise seeing as JPMorgan did say it would favor precious metals such as gold in 2008… [DealBook/NYT]
• If the book Damn It Feels Good to Be a Banker wasn't in-your-face enough already, now it's being accompanied by a promotional hip-hop music video depicting the age-old battle between bankers and consultants. [DealBreaker]
• Lehman Brothers is axing another 1,500 employees from its payroll. This makes for the fourth round of bloodletting this year. [NYT]

MEDIA
• Meanwhile, no heads are rolling at Bloomberg over the Steve Jobs obituary snafu. [NYP]
• Should members of the media have been cheering and screaming "woo" for Barack Obama during his speech last night? [Briefing Room/Hill]
• There seems to be a golf-cart theme permeating the media this week. Vanity Fair contributing editor Michael Wolff got to tool around in one with Rupert Murdoch, and Luke Russert was seen being zipped around the DNC in one this week. Will next week's vehicle of choice be a Segway? [NYO , NYP]

REAL ESTATE
• A 23-year-old graduate student hates her $1.5 million apartment because the floor-to-ceiling windows let in too much light. In fact, she recently was forced to spend $12,000 on motorized shades that she keeps lowered during the day. The horror! [WSJ]
• Bianca Jagger is set to battle the State Court of Appeals next week over her Park Avenue apartment. [City Room/NYT]
• Infrastructure Buzzword Week continues as Barack Obama sort of mentions that the country needs to invest in new roads. [NYO]

LAW
• Amid a U.S. Justice Department probe, Google is moving ahead with its search-advertising partnership with Yahoo. Has Eric Schmidt not heard the song "I Fought the Law and the Law Won"? [Reuters]
• Why is it that so many lawyers have mid-career meltdowns? [ABA Journal]
• Predicting how many associates a large law firm will need is tricky business. [Law.com]