• At least 75 Time Warner layoffs are expected to be announced today. The layoffs are among CEO Jeff Bewkes's first public tasks since taking the helm of the company from Dick Parsons last month. Earlier today, Time Warner announced a 41 percent decline in fourth-quarter earnings. [MSNBC & AdAge]
• Maybe some of those Time Warner folks can hang their hats over at Condé Nast. The Observer evaluates Portfolio's recent spending spree, during which it recruited top talent from The New Yorker, the Post, and the Times. [NYO]
• (Product)Red, the love child of Bono, iPod, and the Gap, has raised more than $22 million for fighting HIV and AIDS in Africa. But considering the big advertising bucks spent during the Super Bowl and elsewhere, some are arguing that it's not enough. [NYT]
Are you guys as excited for President George Bush's State of the Union Address tonight as we are? Hoo-ah! Wait. You realized there still is a president, even though everybody's busy trying to pick who the next one will be, right? We know, it's hard to remember. And even though there are primaries tomorrow, tonight belongs to current president George Bush. Early reports say that his address will largely focus on the economy, which is probably what most ordinary citizens are hoping he will talk about. "Expect few surprises and no big initiatives," says the Associated Press. Housing reform will come up, press secretary Dana Perino says, as well as health care and veteran's care, alternative energy sources, climate change, faith-based initiatives, and conditional troop withdrawal in Iraq.
But today the list of Presidential guests has been released for the event. These are the people who sit up with Laura Bush in the balcony, who are generally alluded to in the text of the speech (to much unilateral applause). In addition the lovely Bush twins and that sexpot Lynn Cheney, we've summarized the guest list for you.