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Pulitzer Prize

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Rattled Journal Staff Renew Pursuit of Pulitzers

Despite a disdain for awards-seeking in the upper echelons of News Corp., editors at the 'Journal' are rethinking their nonchalance toward the industry's top laurels.

By Gabriel Sherman

Bear Stearns, Really Into Bridge

FINANCE • Bear Stearns CEO James Cayne, ranked 611 in the world at contract bridge, fired Warren Spector, ranked in the top 225, for his role in the subprime crisis. Spector, a co-president at Bear, who took home $37 million, spent a whole two weeks at a bridge tournament in Nashville, while Cayne made do with a mere two days. Meanwhile, the firm announced 310 job cuts. [Bloomberg, DealBook/NYT] • Merrill Lynch canned three top executives before even disclosing its own subprime losses, which could exceed $4 billion. Dow Kim, the former co-head of institutional securities, Osman Semerci, global head of fixed income, and deputy Dale Lattanzio were all shown the door. [WSJ] • Zoe Cruz, co-president of Morgan Stanley, is the highest paid woman in America. At least there's good news for somebody! [CNN, WSJ]