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At Reed Smith, the Summers Make More Than the Staff

LAW • Reed Smith's summer associates are currently making more than the firm's first-years. The indecency of it all! [Above the Law] • Ann T. Pfau was named chief administrative judge of New York's court system, the first woman to hold the post. [New York Law Journal] • In addition to pay raises, Big Law has to offer associates some new perks like 401(k) plans, bonuses, and concierge services to retain them. [National Law Journal]

Private-Equity End-Time Is Near!

FINANCE • The big private-equity guns are sounding warning shots of a bubble. Henry Kravis and David Rubenstein believe the good days are waning. [WSJ] • Despite the bullish market, Goldman Sachs initiated a "pause" in hiring. Is an industry-wide freeze likely to follow? [Breaking Views via DealBreaker] • Wall Street firms are having trouble keeping analysts because the work is boring and the pay better elsewhere. [NYS]

New York's Racistest?

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• The U.S. Department of Justice is suing the Fire Department for discriminating against minorities. A complaint filed in Brooklyn alleges that the firefighter recruitment exam is racially weighted and serves to "weed out" blacks and Latinos. [Metro] • We've said it should take more than greening your mansion to make it into the news. This qualifies: An abandoned upstate steel mill has reinvented itself as a wind farm, a first for the Rust Belt. [NYT] • Peter Braunstein didn't just want to kill Anna Wintour: He also spoke of heading down to New Orleans to head up a gang of angry Katrina survivors, according to a shrink. (Braunstein did briefly pretend to be a hurricane victim to get free food and shelter while on the run.) [amNY] • Subway Superman Wesley Autrey left NBC's Deal or No Deal with $25 after picking the wrong suitcase (the other two held $1 million and $10,000, respectively). No X-ray vision, then. [NYDN] • And there's some sort of conspiracy afoot among the Post, CBS, Amy Fisher, and Joey Buttafuoco to pretend that there's some juice left in the Long Island pair's story — enough, perhaps, to sustain a reality show. Let's not encourage any of them. [NYP]

Never Doubt Tiki

NBC Football
Tiki Barber just retired from football, but has his throwing arm already atrophied? At NBC's upfront presentation yesterday, the former Giant and the rest of the Sunday Night Football sportscaster team were trotted out to face advertisers. Barber and colleagues Jerome Bettis and Chris Collinsworth rehashed a bet from last year: Who could toss a football into the balcony of Radio City Music Hall?

Lohan, Larter Go Shopping for Free

Ali Larder and Hayden Panettiere
This is Upfronts Week, the time of year when Hollywood TV stars must come to New York to schmooze with the advertisers who pay the bills. In exchange, the actors get a warm feeling of job security, and the chance to return to their hotels with mountains of swag courtesy of Lucky magazine's annual "Lucky Club" Upfronts gifting suite at the Ritz Carlton.