company town

All Is Not Well in Redstone Land

Sumner Redstone, the octogenarian CEO of CBS and Viacom, is trying to play all lovey-dovey with his spurned daughter Shari, but the succession to the $50 billion empire is nowhere near resolved. [LAT]
• With more than a 1,000 job cuts at Time Inc. behind her, Ann Moore, the CEO who rose from the back room to the boardroom, thinks there’s still plenty of fat to cut — she asked some McKinsey consultants to keep sharpening their knives. [NYP]
ABC News has done gangbusters over the last year, leading nightly news and finally catching up in the morning, so why did their Disney overlords decide to shuffle management at the top? [NYP]

• With Citigroup’s profits down 60 percent, and not just because of subprime, how much longer can Chuck Prince last? [Deal Journal/WSJ]
UBS revealed $3.4 billion in losses, announced a plan to cut 1,500 jobs in investment banking, and canned top executives Huw Jenkins and Clive Standish. [Reuters via IHT]
• Wondering why Hollywood’s turned out so many terrible movies in the last few years? Blame Wall Street and the “subprime movie market.” [NYT]

• The one great result of last week’s focus on third- and fourth-tier law schools: We learned that Eric Krautheimer, the partner at Sullivan & Cromwell who told Aaron Charney to “bend over” and pick up a document, picked up his own mad law skills and personal politesse at Western New England College School of Law. [Above the Law]
Clarence Thomas’s autobiography comes out today. The justice breaks out his legendary charm and calls Anita Hill a “mediocre” employee. [AP via]
• Top financial tips for young lawyers: Don’t buy a house in New York until you can deal with your loans, even if you’re raking it in at a top firm. [Law Blog/WSJ]

Jacques Helleu, Chanel’s artistic director, died on Friday at the age of 69. Helleu, who worked at the house for 40 years and passed after a long illness, was responsible for the brand’s iconic imagery. [British Vogue]
• Megawatt models Jessica Stam and Carmen Kass are shilling for a new ecofriendly nightclub to open in New York, called “The Greenhouse.” It’s going to be in a secret location, thereby proving that being green, like being beautiful, actually isn’t easy. [WWD]
• Cartier collaborated with Ang Lee on the filmmaker’s latest movie, Lust, Caution. No word yet if the baubles are as pervalicious as the film. [Fashion Week Daily]

All Is Not Well in Redstone Land