company town

Oracle of Omaha Screws With Everyone’s Head

• Buffett to the rescue: The Oracle of Omaha may take a 20 percent stake in crisis-ridden Bear Stearns. If the deal goes through, Bear CEO Jim Cayne will have another new bridge partner to brag about. [NYT]
• Goldman Sachs named Edward Forst as co-head of investment management, a troubled group with a mere $796 billion in assets. Forst takes the place of Eric Schwartz, who’s retiring after 23 years with the bank. [NYP]
• “The tears of Chuck Norris would supply enough liquidity to solve the credit crisis. Too bad he never cries.” [Bloomberg]

• The Huffington Post could be profitable as early as next year, though Ariana has no plans to begin paying bloggers anytime soon — or ever. As for HuffPo’s editing, one blogger brags, “I’ve never had one word changed.” We never would have guessed! [USAT]
• The NYT put out a paper even though their network had a massive three-hour failure yesterday. [Gawker]
• Maria Bartiromo makes a surprisingly moving Virgin Mary, as painted by a recent artist, ready to lash out at up-and-comer Erin Burnett. [DealBreaker]

• Partners at Dewey and LeBoeuf approved the firms’ proposed merger, finalizing the largest New York law-firm merger in history. [New York Law Journal]
• Thanks to the Mukasey nomination, Patterson Belknap is looking to make a name for itself on the national stage. [National Law Journal]
• Justice Kennedy was distinctly unimpressed by a batch of college students who failed to name the three branches of government. Let’s just hope they didn’t leave out the Supremes! [Law Blog/WSJ]

• OutKast’s dapper André 3000 is launching a menswear line. Shocking, we realize. [WWD]
• Famed photog Mario Testino is auctioning off shots of Princess Di to aid victims of the earthquake in Peru. [British Vogue]
• Now your phone can dress up like a socialite too! Zac Posen’s unveiling graphics for Samsung. [Fashionista]

Oracle of Omaha Screws With Everyone’s Head