company town

Buyout Exodus at ‘Newsweek’

• More than 100 staffers leave Newsweek on both the news and business side, including David Gates, David Ansen, and Cathleen McGuigan. [Radar]
Glamour’s dating blogger, Mike Cherico, got the ax and is now hoping to write a book “about the rise and fall of a dating blogger.” [NYT]
• From the weekend: Scott Galloway and his merry band of hedge-fund vagilantes up their stake in the Times to 19.8 percent, and Barry Diller wins! [Reuters, DealBook/NYT]

• The trading desks are buzzing with the word that Alan Greenspan, Warren Buffett, and others have been whispering for weeks: recession. [NYP]
• March was a disastrous month for IPOs in the U.S., but IPOs flourished in the Middle East. [WSJ, WSJ]
•The Fed plays alphabet soup. [DealBreaker]

• Lehman Brothers is suing Marubeni Corp., a Japanese trading house, claiming that employees at the firm used forged documents and an imposter to raise $350 million. [WSJ]
• Here’s another reason to pay attention to those legal bills your attorney sends you: A former partner at Latham & Watkins pleads guilty to fraud, having mischaracterized items on invoices. []
• Jonathan Mechanic of the Fried Frank firm leads the legal team that locked up the Tishman Speyer Properties right to develop the West Side Rail Yards. High Line high-five! []

• Jean Nouvel will be awarded the Pritzker Prize, which isn’t making some West Siders happy. [NYO]
• The Upper East Side studio where Andy Warhol created some of his most iconic Pop Art is up for grabs. [NYT]
• The space currently occupying the old Pfizer plant in Williamsburg might be turned into — you guessed it — housing. [Brownstoner]

Buyout Exodus at ‘Newsweek’