FINANCE • Trader Richard Arens, who runs a brokerage named ABS, made a vanity trade in order to push oil past the $100/barrel milestone. We're sure the girls at the bar will be real impressed. [MarketBeat/WSJ] • Citigroup will likely start laying off between 5 and 10 percent of its workforce next week, cutting as many as 32,000 jobs. Merrill Lynch plans to cut around 1,600. [CNBC] • Former E*Trade CEO Mitch Caplan, who helped load the company with the subprime loans, made off with a $11 million golden parachute. Compare that with former H&R Block chief Mark Ernst, responsible for his own big subprime losses, who took home a paltry $2.5 million. [Deal Journal/WSJ, DealBook/NYT]
Yeah, if we were Jonathan Galassi, we wouldn't pay that either.
How much money does it take to get a guy to abandon his publishing house of 43 years?
At an Air America relaunch, Bill Clinton said Al Gore has the money to run for president. Rudy Giuliani is raising money in Jerusalem. Paul McCartney is playing new songs at a free Highline Ballroom show tonight. Tom Wolfe is worried Gus Van Sant's adaptation of The Electric Kool-Aid Acid Test won't do the LSD trips justice. Mel Brooks thinks Cloris Leachmen is too old to reprise her role in Young Frankenstein. Paris Hilton is naked online again. At the Apollo's spring benefit, David Dinkins said he likes Kyra Sedgwick. Dumbo developer David Walentas will play polo with Adolpho Cambiaso, the world's best player, in Bridgehampton this summer. Beyoncé wouldn't sign a British fan's painting. Britney Spears exposed herself again, and snuggled with gal pal, at a Hollywood club.
MEDIA • Keith Olbermann will take a break from slamming the Bush administration to co-host NBC's Football Night in America on Sundays this fall. [Hollywood Reporter] • Tired of losing to Condé Nast at the National Magazine Awards, Hearst will honor its own at the Tower Awards tonight. [WWD] • Newspaper coverage of the Virginia Tech shootings looked downright bloglike. [E&P]