company town

Citadel Founder: The Kids Aren’t Alright

• Banking analyst Meredith Whitney says that Citigroup is so deep in a black hole that even physicist Stephen Hawking couldn’t help the company. [NYP]
• Kenneth Griffin, the founder of the successful $20 billion Citadel Investment Group, says Wall Street arrived at its current economic situation by means of inexperience. “Walk across any of the trading floors — they are full of 29-year-old kids. The capital markets of America are controlled by a bunch of right-out-of-business-school young guys who haven’t really seen that much.” [NYT]
• Today in Bear Stearns: JPMorgan’s Jamie Dimon finds 50 percent of Bear Stearns employees a job. Or, um, he fires 50 percent of them. Depends on how you look at it. [NYP]

• Norman Pearlstine, a former top editor at Time Inc. and The Wall Street Journal is heading over to Bloomberg LP to be the chief content officer. Does this mean that Bloomberg is going to expand its news business? [NYT]
Fortune magazine needs to cut its staff by fifteen, so it’s letting people go through … drum roll … buyouts. [Gawker]
• The Elle–Nina Garcia–Project RunwayMarie Claire saga drags on. [WWD]

• Senator Chuck Schumer and Mayor Bloomberg get into a scuffle over the development of the West Side after the senator called the mayor’s plan for the boulevard running through Hudson Yards the “goofiest thing I’ve ever seen.” [Curbed]
• No, no, no. Keith McNally is not buying the Beatrice Inn. In fact, the restaurateur claims he’s barely heard of Beatrice. He should check it out. He’d probably dig the lighting. [Eater]
• Room rates at Robert De Niro’s Greenwich Hotel have dropped from $725 per night to $550. [HC]

• Here’s a Cadwalader survival guide. [WSJ]
• Fake Sex and the City lawyer Miranda Hobbs might not be a fan of Brooklyn real estate, but real law firm Weil, Gotshal & Manges is embracing the borough. []
• The judge who slipped and fell at the Yale Club has settled his $1 million lawsuit. [Chicago Tribune]

Citadel Founder: The Kids Aren’t Alright