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Why Can't Bonus Season Last All Year?

FINANCE • It's never too early to start talking bonuses, and rumor has Goldman and Merrill paying out the most to first-year analysts. [Portfolio] • JPMorgan exec Timothy Ryan, Henry Paulson's personal choice for a top job at the Treasury Department, withdrew his nomination for unspecified "personal reasons." [DealBook/NYT] • If you run the numbers, the Yankees and the Mets are the two most valuable teams in Major League Baseball. And that's taking into consideration that the Yankees were the only team in the league last year to lose money. [Forbes]

Another Duke Alum Joins Morgan Stanley

FINANCE • The former captain of the Duke lacrosse team was hired by Morgan Stanley's investment-banking analyst program. JP Morgan had hired David Evans and then rescinded the offer after Evans's indictment. [Deal Journal/WSJ] • Tudor Investment Corp. forms a political-action committee, another step toward political sophistication for hedge funds. [WSJ] • If you take a cab that's showing CNBC, you might just hitch a ride with Jim Cramer. [DealBreaker]

My CEO Can Beat Up Your CEO

FINANCE • Lehman CEO Dick Fuld, nicknamed the "Gorilla" on the Street, didn't do so well when he picked a fight with another father at his son's hockey game. [Trader Daily via DealBreaker] • Paul Wolfowitz promotes his girlfriend at the World Bank, and his colleagues want him out. [CNNMoney] • The world's top earner in the financial sector: reclusive ex–Enron trader John Arnold, who netted almost $2 billion shorting natural gas. [The Guardian]

Naked Law Student's Ex-Boyfriend Tries to Keep Low Profile

LAW • An ex-boyfriend of the nude-video Brooklyn Law chick appeared briefly in the video with her, and he hopes his employer doesn't find out. Talking to the press is a proven way of maintaining anonymity. [NYDN] • Oh, boy! It's omnibus-hearing day in the Aaron Charney case! We expect hot cross-motion action. [Above the Law] • Two loud and zealous attorneys, Michael S. Washor and Michael F. Vecchione, are out-shouting each other at a judicial corruption trial in Brooklyn. [NYT]

Advertisers Flee Imus Fiasco

MEDIA • Advertisers ditch Imus faster than you can say "Rutgers basketball" — Proctor & Gamble is out, along with Staples and Bigelow Tea. Considering Imus's show generates 25 percent of revenue for WFAN, this isn't looking good. We'll see what happens when the Rutgers basketball team meets up with him. [WSJ] and [NYT] • SNL producer Lorne Michaels is frustrated with NBC's vigilante legal department for removing network material from YouTube. [NYO] • Newish Times editorial-page editor Andrew Rosenthal is embracing the Web in ways his predecessors have not. Anyone want a TimesSelect column? [NYO]

Co-ed Naked Brooklyn Law Students

LAW • A third-year Brooklyn Law School student has been identified as a woman being spanked and holding gavels up to her breasts in the Playboy TV show Naked Happy Girls. [NYDN] • Was Aaron Charney just afflicted by Sullivan & Cromwell's general malaise? The firm ranked 60th on a satisfaction survey of midlevel associates in New York. [New York Law Journal via Above the Law] • Judicial paradox: New York Chief Justice Judith Kaye says she’s prepared to sue after Albany failed to deliver on judicial pay raises. [New York Law Journal]

Bravo Makes Tim Gunn Work

FASHION • Tim Gunn will carry on for another season of Project Runway. Bravo executives can now breathe. [Downtown Darling] • Vogue's May issue spotlights the ten new top models, including Jessica Stam, Chanel Iman, Coco Rocha, and Agyness Deyn. [Fashionologie] • Henry Holland knockoffs continue to flood the market. The culprit this time: Urban Outfitters. [Fashionista]

‘Times’ Gay Mafia Underground Even to its Members

MEDIA • Ben Brantley, identified by Out as part of the Times's "gay mafia," claims he didn't even know some other colleagues listed were gay. The first rule of the gay mafia … [WWD] • Ed Bradley wins a posthumous Peabody Award for his 60 Minutes pieces on the Duke rape case. [Peabody Awards] • Larry King wants to keep going for another ten years and then pass his show along to Ryan Seacrest. At which point it might actually get softer. [NYT]

Giuliani Asks Press to Back Off His Third Wife

MEDIA • Presidential hopeful Rudy Giuliani asks the media to lay off his wife. Media laughs to itself and continues writing. [WCBS-TV via Mediabistro] • In an effort to make viewers stick around for commercials, Fox will experiment with running short programming clips during the break. [WSJ] • The entire Harper's archive is online, a cornerstone of the magazine's relaunched Website. [Harper's]

Investment Banks Mull New Trading Floors

FINANCE • JP Morgan, Lehman, and Merrill are in talks with developers to build new trading floors in Manhattan. [Bloomberg] • Donald Trump set a new low last night, defeating WWF owner Vince McMahon in a "Battle of the Billionaires." [AP via Yahoo] • The SEC celebrates April Fools' Day with a prank press release about new disclosure rules. [Financial Times via MSNBC]

Law-School Rankings Leaked

LAW • The U.S. News 2008 law-school rankings were somehow leaked. Yale's still No. 1, but Harvard and Stanford swapped this year to be two and three, respectively. [Law School Discussion via Legal Blog Watch] • If you're looking for a good M&A lawyer, wait till they all come back from the Corporate Law Institute at Tulane. [DealBook/NYT via WSJ] • Seyfarth Shaw finally ups associate pay to match other New York firms. As one partner said back in February, "We don't follow all the other firms over the cliff like lemmings. We wait, think about it, discuss, and then jump off the cliff." [Above the Law and Above the Law]

Allegra Versace Seeks Treatment for Anorexia

Versace
FASHION • Allegra Versace, daughter of Donatella and heir to the fashion empire, is being treated for anorexia. [NYP] • The ever persistent rumors of Hedi Slimane leaving Dior Homme keep swirling. Slimane has let his contract go unsigned for nearly a year. [WWD via Flypaper] • Kate Moss picked close friend Irina Lazareanu as the face of her new Topshop collection. Lazareanu, incidentally, used to be the drummer of Pete Doherty's band, Baby Shambles. [British Vogue]

Want a Raise? Move to London

FINANCE • Another point for London: U.K. traders average salaries and bonuses 50 percent higher than their U.S. counterparts. [Bloomberg] • Everyone has a theory about why Goldman and J.P. Morgan were shut out of Blackstone Group's IPO, but who's right? [Deal Journal/WSJ] • Ernst & Young was censured and sanctioned by the SEC on Monday for alleged violations of auditor-independence rules. This was the second slap against the accounting firm in nearly three years. [AP via Forbes]

Ad Agencies Better Figure Out the Internet Right Quick

MEDIA • Nike abandons its longtime ad agency Wieden + Kennedy to search for a more digital-savvy firm; Madison Avenue fears its own Internet ignorance. [WSJ] • Has Tribune Co. finally settled on Sam Zell as a buyer? [WSJ] • Sharing a Daytime Emmy with another winner? The National Academy of TV Arts & Sciences is charging $350 for a second statuette. [Variety via Mediabistro] • Life magazine is dead for the third time. Time Inc. announced today that it will discontinue the Life Sunday newspaper supplement on April 20. [Time Inc.]

Aaron Charney Wants Your Story

LAW • Do you know anything about the Aaron Charney case? His lawyers want to hear your story. [Above the Law] • GE's in-house council cuts 44 firms from its preferred provider's list, including Paul, Hastings and Sherman & Sterling. [Corporate Counsel] • Anyone want to buy a giant legal publisher? ALM is up for sale. [Legal Blog Watch]

Sullivan & Cromwell's Silent Partner

LAW • Is Sullivan & Cromwell partner Stephen Kotran the quiet hero in the Charney case? [Above the Law] • Department of Justice e-mails recall high-school girlfriends and Raging Bull. [Radar] • Justice Anthony Kennedy recuses himself from a case involving Credit Suisse because his son is a managing director there. So why didn't that come up last December when Kennedy was involved in the decision to grant review? [Legal Times]

Janice Dickinson Booted From Fashion Week

FASHION • Janice Dickinson's slurred antics get her banned from all IMG fashion events, including New York Fashion Week. [Fashionista] • Leave your dancing shoes at home. The Costume Institute is scaling back this year's gala to just dinner, no after-party. [Fashion Week Daily] • Jil Sander's moving out of the 57th Street flagship store. Moving in? Miu Miu. [The Shophound]