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Sullivan & Cromwell

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Charney’s Lawyers Toss Around Casual Nazi References

LAW • One of Aaron Charney's lawyers accuses Sullivan & Cromwell of having "adopted Dr. Mengele's techniques to torture the facts and law of this case." [Above the Law] • More than twenty lawyers filed an objection against the $125-apiece BAR/BRI settlement. [National Law Journal] • Summer associates at Pillsbury Winthrop practiced researching things in books this week. Next week: writing briefs by hand. [Law Blog/WSJ]

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Happy Eccentric Executive Day!

FINANCE • Steve Schwarzman's chef spends $3,000 each weekend on food; Schwarzman makes his employees wear non-squeaky shoes, and at five-foot-six, he attributes his success to "little man" complex. [WSJ] • "Page Six" is on the trail of an investment banker who wears kimonos and eyeliner. [NYP] • If you're a CEO, you may well be a lousy father. [Fortune via CNNMoney]

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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]

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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]

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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]

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Jim Cramer, Manipulator?

FINANCEMad Money host Jim Cramer (and New York columnist) recalls his good old days of stock manipulation. [YouTube via NYP] • Activist shareholder Evelyn Y. Davis demands that the board of Goldman Sachs stop distributing stock options immediately. [DealBook/NYT] • Wannabe buyer attacks Smith & Wollensky CEO, claiming that accepting another, lower bid would personally benefit Alan Stillman. [Crain's]

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‘Voice’ Voiceless, Again

MEDIA • David Blum out at the Village Voice. He was the fourth editor there since December 2005. [Gawker] • Flummoxing DVR users everywhere, ABC green-lights a sitcom based on the Geico cavemen commercials. [WSJ] • Pulitzer judging starts today at Columbia University; judges from Willamette Week, the Indianapolis Star, and others read actual printed copies of newspaper articles. [E&P]

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Warren Buffett Wants a New Warren Buffett

FINANCE • Buffett 2.0: Oracle of Omaha seeks young understudy to take over Berkshire. [Fortune] • Thirteen charged with insider training, including Morgan Stanley, UBS, Bear Stearns, and Bank of America employees. [NYT] • Goldman, Merrill, and Morgan Stanley traders rate own firms barely above junk-bond status. [Bloomberg]

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Barbarians at the Energy Grid

FINANCE • A group led by Kohlberg Kravis is taking energy giant TXU private for $45 billion, besting the Blackstone record by $6 billion. But can Kravis beat Schwarzman's party? [NYT] • Gary Crittenden named Citigroup CFO. Job description: Fix CEO Charles Prince's mistakes. [NYT] • Goldman media banker Sebastian Grigg may defect to Credit Suisse. [DealBook/NYT]

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Associates' Pay Up, Partners' Profits Down?

LAW • Aaron Charney had secret settlement talks with Sullivan & Cromwell as late as January 31. A sticking point: the destruction of Charney's home hard-drive. [Above the Law] • Former Thacher Proffitt & Wood associate pleads guilty to insider trading — firm happy to learn Amir Rosenthal wasn't using client information. [NYLJ] • Will partner profits stay flat because of associate pay raises? [NLJ via DealBook/NYT]

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Sulzberger Tires of Wondering Whether Print Is Dead

MEDIA • Pinch Sulzberger: "Will we print the NYT in five years? I don't care." [Haaretz via E&P] • GE CEO Jeff Immelt calls a Post story about a sale or spinoff of NBC Universal, "more or less made-up stupid drivel." [Fortune] • Will Ferrell and Sacha Baron Cohen "too big" to share VF's Hollywood cover. Ben Stiller, Owen Wilson, Chris Rock, and Jack Black apparently not so big. [Deadline Hollywood/LA Weekly]

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Paper Trail Disturbed at Sullivan & Cromwell

LAW • Did Aaron Charney "misplace" documents belonging to a partner's file at Sullivan & Cromwell? The firm's countersuit suggests so. [Above the Law] • Cadwalader, Wickersham & Taft is rising up the ranks of most profitable firms, thanks to some cut-throat tactics and, apparently, a wicked bowling night. [New York Law Journal] • Save a life, become a hero, and suffer the (tax) consequences. A law professor explains why the Subway Superman might get walloped by the IRS this tax season. [Mauled Again via Legal Blog Watch]

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How Clean Is Your Company Cafeteria?

MEDIA • The cafeteria at Bloomberg LP got a bad score from the city Health Department. Hearst and Condé Nast were much more sanitary. [Radar Online] • Serendipity exists for online newspapers as well as print, thank you very much. [WSJ] • Despite what former GE boss Jack Welch had to say about him recently, Jeff Zucker is getting a promotion at NBC. [LAT]

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Sullivan & Cromwell Bleeds Associates

LAW • Sullivan & Cromwell lost about 30 percent of its associates in 2004 and 2005. It might take more than a raise to fix that. [WSJ] • Don't despair, associates! Where Simpson Thacher goes, Milbank Tweed, Sullivan & Cromwell, Paul Weiss, Cleary Gottlieb, and Cadwalader, Wickersham & Taft are sure to follow. [Above the Law] • Long Island lawyer Gary Berenholtz, who once exposed a corrupt Brooklyn judge, stole money from clients and his partner's widow to fund fine dining and finer vacations. [NYP] FINANCE • The New York Stock Exchange will trade almost exclusively electronically by the end of today; investment firms will continue to lay off floor traders. [WSJ] • The New York City employees' pension fund is the lead plaintiff in a suit against Apple Computer Inc. for overcompensating executives with illegal stock options. [Reuters]

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Breaking: Banks, Bankers Make a Lot of Money

Today's big news in the city's big businesses. FINANCE • J.P. Morgan had a very good fourth quarter, but is $4.53 billion enough to top Citigroup? Answer on Friday. [DealBreaker] • Projected versus actual 2006 Wall Street bonuses. Either way, they were big. [BankersBall] • Taking a cue from its bonus-giddy brokers, Bear Stearns looks to invest in some Manhattan real estate. [NYO via DealBook/NYT]

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We've Got a Lot of What It Takes to Get Along

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• We've been good little New Yorkers, and we're getting a $1 billion tax cut. Mayor Bloomberg has unveiled his talking points for tonight's State of the City address, and an upbeat bunch they are: a booming economy, a $2 billion surplus, and his own 75 percent approval rating. [amNY] • Barack Obama is officially in the running for '08, and the Post picks the unusually restrained "Barack Is On Track" while the News goes nearly incomprehensible with "Hil Better Not Look Barack." [NYP, NYDN] • A lawyer is suing Sullivan & Cromwell, one of the city's most prominent law firms, for discriminating against him because he was gay and retaliating when he lodged an internal sexual-harassment complaint. What is this, 1993? [NYP] • Naomi Campbell pleaded guilty to throwing a cell phone at her maid. The move resulted in a sentence of five days of community service, which Campbell will eventually get around to (after fashion shows in "California, Brazil, London, Paris and Milan.") [NYT] • And in another celebrity-justice vignette, Jerry Seinfeld was ordered to pay $100,000 to his real-estate broker, whom he stiffed after she refused to give him a house tour on Shabbat. Strange, this sounds like more of a Curb Your Enthusiasm episode. [Newsday]

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