company town

John Mack Gives Zoe Cruz the Heave-ho

• John Mack decided to can Zoe Cruz just three weeks after naming her as a strong potential successor at Morgan Stanley. Two execs, Walid Chammah and James Gorman, will take Cruz’s place as overseeing the firm’s trading and risk operations. [NYT]
• Eddie Lampert has lost quite a bit of his luster: The star investor sometimes mentioned as the heir to Warren Buffett lost millions on a big investment in Citigroup, and the earnings debacle at Sears is only making things worse. [Deal Journal/WSJ]
• A small local council in Scotland managed to trump the Donald’s $2 billion plan to build “the world’s greatest golf course.” It was just never clear on where Trump’s hair would fit in the course. [NYP]

• Hollywood producers put together what they term a “New Economic Partnership,” offering to pay striking writers an additional $130 million annually, along with a few small payouts for online streaming. The guild deemed the proposal “a massive rollback,” and the strike continues. Meanwhile, will the writers’ strike help save gaff-prone politicians in the midst of the primary season? And will Jon Stewart go scab for the good of democracy? Also, Conan O’Brien announced plans to pay non-writing staff himself after they’re laid off next week. [NYT, Phoenix, NYT]
• Conrad Black’s BFFs, including Elton John and Mort Zuckerman, are writing letters to help reduce the press baron’s potential twenty-year prison sentence. According to Black’s daughter, “My father sees the world through rose-[colored] glasses and fresh eyes — no matter what problems or issues arise, he finds something positive to focus on.” We’re sure that’ll make all the difference with the judge — old Conrad will find something positive even in prison! [NYP]
• 2007 is now officially the bloodiest year on record for journalists worldwide. [Guardian]

• Breaking up in big law is hard to do. Here’s how to avoid the drama of getting fired by your firm. [Fulton County Daily Report]
• Manhattan Judge Harold Baer went off (for 129 pages) on Dorsey & Whitney for taking civility down yet another notch in the halcyon halls of the law. [New York Law Journal]
• Weil Gotshal lost high-profile bankruptcy chief Martin Bienenstock to Dewey & LeBoeuf. [Law Blog/WSJ]

• Tiffany & Company is suing eBay for enabling fake merchandise trading. If only we could sue for all those regrettable late-night purchases… [British Vogue]
• J. Lindenberg founders are backing Justin Timberlake’s William Rast label to expand to women and men’s sportswear. Apparently sexy is determined to hit us over the head with its presence. [WWD]
• Dakota who? Actress Abigail Breslin, a.k.a. Little Miss Sunshine, took Prada fashion to the pint-size by sporting a mini-version of Miuccia’s iconic fall coat. [NYT]

John Mack Gives Zoe Cruz the Heave-ho