• Cathy Horyn is in love again! She finds the black lace on Prada's coats, pants, and dresses "fascinating" in Milan. [NYT]
• Suzy Menkes likes Prada's black lace too, calling it "original" and "intensely Prada in its mix of the prim and the perverse." [IHT]
Even in the dead of winter, good new things keep happening to New York City. The Underground Gourmet giddily points out a new wine bar, Gottino, that is outpacing its panini-packing rivals. The Insatiable Critic found a new, urbane restaurant in Dovetail and loves the Sunday prix fixe. Among this week's openings, Periyali adds a midtown sister in Persephone, giving the city another blue-chip Greek restaurant. Ah, New York: Even our lean seasons have their harvests.
Christmas is a time for giving, and lest we forget, it is also a time for sacrifice. This year, James Cayne and the other top executives at Bear Stearns are making the ultimate sacrifice: They've decided to forgo their year-end bonuses. Because they have enough money? Because they decided to donate it to the children of Darfur? Because J.C. hit it big at bridge? Eh, no. Ostensibly this decision has come about because they're gearing up to announce some pretty shameful fourth-quarter results tomorrow, and after losing $1.6 billion in investor money this year, pocketing what little is left would look kind of bad. So instead they're divvying up the small pool left over from what they didn't blow on subprime mortgages and giving it to players in the firm in hopes that they don't jump over to, say, Goldman Sachs.
Bear Stearns Chiefs to Skip Bonuses [WSJ]
Update: It's a trend! After announcing a $9.4 billion writedown, Morgan Stanley CEO John Mack is foregoing his bonus, too. Somewhere, Zoe Cruz is snickering.