Bernanke Says That a Recession Is ‘Possible’As both the economy and the media seem to be contracting, Jared Kushner solidiers on, throwing himself into a new project after his breakup with Ivanka. All this and more in our roundup of finance, media, law, and real-estate news.
company town
For Viacom Freelancers, Neither Happiness Nor Health for ChristmasMEDIA
• Viacom screws over its army of freelancers by rolling back benefit programs drastically. Merry Christmas! [MixedMedia/Portfolio]
• The Washington Post is sending veteran reporter and inveterate partier Keith Richburg to town to take over the paper’s New York bureau. He’s well known for throwing parties with, get this, as many as 30 people! Will Manhattan will be able to handle it? [NYO]
• No holiday party at Time Inc. or the New York Times. Suckas! [Radar]
company town
‘Times’ Editorial Chief Andy Rosenthal, UnpluggedMEDIA
• Incoming Time Warner CEO Jeffrey Bewkes may well spin off the company’s huge cable unit, but a sale of Time Inc. looks unlikely since the small potential proceeds (and big tax penalty) would little benefit a company of Time Warner’s size. [NYT]
• Times editorial-page editor Andy Rosenthal calls all executive editors, including Bill Keller and his own father, crazy. Sweet. [Radar]
• Rupert Murdoch is confirming to all his friends he plans to bring in Times of London editor Robert Thomson to become the Journal’s publisher as part of an “Aussie invasion” in the first few months of next year. [Guardian via Media Mob/NYO]
company town
Alan Greenspan: ‘Not My Fault’FINANCE
• Alan Greenspan says don’t blame him for the credit crisis. He may not have understood the dangers until recently, but the former Fed chief claims there’s nothing he could have done. [NYP]
• Who needs Wall Street 2 when Gordon Gekko is already back in the guise of Steve Schwarzman? The Blackstone founder just bought a big stake in a firm called BlueStar, the same name as the central company in the original Wall Street. [DealBook/NYT]
• Big surprise: Funds that invest in Vice typically do far better than those that insist on Virtue. [NYT]
company town
Another Buyer Interested in Dow JonesMEDIA
• Brian Tierney, the ad executive who bought the Philadelphia Inquirer, is interested in bidding on Dow Jones. [DealBook/NYT]
• Women’s Wear Daily is the latest paper to sell ads on its front page; the crass commercialism doesn’t seem to bother anyone these days. [NYT]
• The Newspaper Guild of New York (representing Time, Fortune, Fortune Small Business, Money, People, and Sports Illustrated) accuses Time Inc. of bargaining in bad faith. [Romenesko]
gossipmonger
Picking On Little ArthurIn his new memoir, former Time Inc. editor-in-chief Norm Pearlstine accuses New York Times publisher Arthur Sulzberger of being more concerned with publicity than with the law during the Judith Miller saga. (Of course, Pearlstine was concerned with neither, happily capitulating to the prosecutor!) Tom Brady and Gisele went to Easter Mass in Little Italy. Disgraced former Miss USA Tara Conner has left New York for L.A. Scarlett Johansson and Ryan Reynolds now seem to be an item. Socialite Dori Cooperman was arrested and charged after she allegedly stole and cashed a $4,300 check. A Gawker editor had a tough time handling Jimmy Kimmel’s questions on Larry King Live. Giada De Laurentiis may be one of Tiki Barber’s co-hosts on the Today show.
