They Should Call It ‘Burrow Hall’!Bronx: Okay, okay, so this isn’t hood-specific … but how cool is it that there’s gonna be an online mag, called Cross Bronx (get it?), featuring writers and artists in the Boogie Down? [Talk Bronx]
Brooklyn Heights: The rats around Cadman Plaza are so out of control it seems the city’s called in a private exterminator, which may be wise judging from the massive size of those rat burrows. Burrow Hall? Ha-ha! [Pardon Me for Asking]
East Village: The old lady who sits next to Gino the tailor all day in his 14th Street shop is quiet when people come in, but when they leave, she yells at him about all the things he does wrong. Reportedly. [Vanishing New York]
Falling Glass a Metaphor for Bank of America’s Finances?FINANCE
• The debris falling off the new Bank of America tower at 42nd Street may have been metaphoric. The firm just reported steep losses, and their wannabe investment-banking unit, set to anchor the new tower, performed the worst. [MarketBeat/WSJ, Deal Journal/WSJ]
• Congrats, James Cayne — nobody wants anything to do with Bear Stearns. Contrary to reports, both Warren Buffett and China’s Citic Bank denied any interest in the bank. [DealBook/NYT]
• Today’s the real anniversary of the 1987 stock-market crash, but at least one veteran thinks parallels to the present are overblown. “The market is just like generals — everyone prepares for the last war.” [MarketBeat/WSJ]
Facebook Steals Your Billable HoursLAW
• Highly paid associates are wasting lots of time on Facebook, to the tune of $50 million a year in hours the little bastards should be billing. [NYO]
• Cadwalader’s bracing for a double whammy: While trying to deal with the massive slowdown in its core mortgage practice area, the firm’s also facing a $70 million legal malpractice suit for mortgage warrantees from the late nineties. [Law.com]
• Michael Mukasey, attorney-general nominee and New York homeboy, is facing complaints that he used a U.S. marshal to take out the trash, and we don’t mean that figuratively. [AP via Law.com]
show and talk
Runway Repeats at Parsons Senior Show!
Monday’s senior collections shown at Parsons spotlighting the class’s top designers raised a question: How closely did these students study the runway? These “top collections” looked like top knockoffs to us. Julia Medvedev’s black bodice dress (above) echoed a Versace silhouette. And Sean William Salim’s gold pants were all too reminiscent of Ghesquière’s robotic creations at Balenciaga. Lora Nova even regurgitated Gareth Pugh’s see-through stripes. But it wasn’t all copycats. Boaz Eli, one of Parsons’ Womenswear Designers of the Year, showed garments that were flattering, well cut, and most important, original. More look-alikes after the jump. Kendall Herbst
Back and to the LeftA new book by Salon.com founder David Talbot claims that the JFK assassination was the joint work of the CIA and the Mafia. Philadelphia TV reporter Alycia Lane mistakenly sent risqué e-mails intended for NFL Network anchor Rich Eisen to his wife. Pete Wentz wants his new East Village bar, Angels and Kings, to be a place where people can have sex in the bathroom. A lot of bankers can no longer expense meals at Hawaiian Tropic Zone. Alec Baldwin skipped the premiere of his new movie to go to Canyon Ranch in the Berkshires. Good move: The screening — of a movie in which he plays an estranged father after a messy divorce — would have been awkward. Penélope Cruz bought the wait staff at the Waverly Inn a round of shots. Rosie O’Donnell dropped a subtle hint that she may be headed to CBS. Boy George was arrested in London for keeping some guy chained to his wall. Tom Cruise and Brooke Shields gambled together in Vegas.
the morning line
New York Is Full of Hot Air
• According to a new study, New York City is responsible for a full one percent of the nation’s greenhouse-gas emissions. A remarkable thing about the study: It was commissioned and publicized by our own mayor, who’s basing an emission-cutting program on it. [MetroNY]
• Citigroup is laying off 17,000 employees in a major slimming-down operation, and its New York headquarters is expected to be hit hard, alongside the megabank’s London and Hong Kong hubs. [NYT]
• A female teacher at the Newark Boys Chorus School is the latest inductee into the tabloid pantheon after an alleged dalliance with a student; she is charged with two counts of aggravated sexual assault and one count of child endangerment. [WNBC]
• Notoriously cash-poor Columbia University is in the money, as 92-year-old billionaire John Kluge is giving his alma mater $400 million for scholarships to the needy. Somewhat weirdly, the money will be distributed among already accepted students. [NYP]
• And in a cross-platform twist on an old story, a CBS News producer was fired for plagiarizing, “almost verbatim,” a Wall Street Journal article — which Katie Couric proceeded to read in her video blog. Those bloggers: No scruples, we’re telling you. [amNY]
Wal-Mart Claims Proof of Fired Marketing Veep’s AffairThe operatic battle between Wal-Mart and its fired senior vice-president of marketing communications, Julie Roehm — the juiciest Madison Avenue scandal in years, and the subject of an upcoming piece in New York — escalated today when Wal-Mart claimed it had “irrefutable and admissible evidence” that she had an affair with Sean Womack, a vice-president who reported to her.
“Julie Roehm didn’t tell the truth about the inappropriate relationship with one of her subordinates,” Wal-Mart spokesperson Mona Williams said from London. “Despite these denials, Wal-Mart now has irrefutable and admissible evidence of the relationship” between Roehm and Womack. “I would not tell you this if we didn’t know it was true.” A romantic relationship between employees violates Wal-Mart policy. The company apparently decided to respond after Roehm filed a lawsuit seeking money she claimed Wal-Mart owed her. The suit also referred to “false and malicious” statements by Wal-Mart in the press.