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Warren Spector

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Hillary Tries to Have It Both Ways With Rupert

MEDIA • Today's negotiations between the Hollywood writers and producers, who some say have already struck a deal, reportedly will be held in an "undisclosed location." We always knew Cheney would come to the rescue! [HR] • German Vanity Fair is being sued for an interview with an infamous neo-Nazi who denied the Holocaust. [Jerusalem Post via HuffPo] • Rift in the house of Murdoch? Rupe complains that his son James can't dumb down the news to his father's tough standards. Meanwhile, a savvy voter in Iowa pressed Clinton on her Murdoch connections, and the senator, no surprise, tried to have it both ways. [FT via Mixed Media/Portfolio, The Caucus/NYT]

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]