(Go: >> BACK << -|- >> HOME <<)

Advertising
You are not logged in

New York Magazine

Skip to content, or skip to search.

Skip to content, or skip to search.

2/15/09

Posted 2/15/09 at 1:01 PM

The Downturnaround

How the Financial Crisis Is Good for New York

How the Financial Crisis Is Good for New York

Photo: iStockphoto

The Downturnaround just about wept with joy while reading "How the Crash Will Reshape America," Richard Florida's fantastic cover story in the March issue of the Atlantic.

Florida, who is a scholar and the author of The Rise of the Creative Class, has become semi-famous in recent years for arguing that the U.S. economy is now based on the development and exchange of ideas, and that the best places for that to happen are those that attract and coddle creative, educated people. Places, in other words, like New York.

Naturally, we've always liked that about him. (We also like his name.) And now we like him even more, because his Atlantic piece devotes special attention to New York.

And he's optimistic! »

2/13/09

Posted 2/13/09 at 6:21 PM

Party Lines

Bradley Whitford on Playing Rahm Emanuel

Bradley Whitford on Playing Rahm Emanuel

Photo: Getty Images

Remember back when Bush was president and things were really bad, but you could always watch the West Wing, and pretend, at least for a few hours, that Martin Sheen was president? The show is off the air now, but one of the characters is now in the real White House: Bradley Whitford's character, Deputy Chief of Staff Josh Lyman, was based on Rahm Emanuel, back when he was special adviser to the Clintons. Jada Yuan caught up with Whitford backstage at the Heart Truth fashion show, in which his wife, Jane Kaczmarek, was one of the models, and got some insights on Obama's chief of staff.

Read more »

Posted 2/13/09 at 6:16 PM

White Men With Money

So, What Did You Do Today, John Paulson?

If we were buds with hedge-fund rock star John Paulson, we'd have this conversation tonight over drinks:

Paulson: So, what did you do today?
DI: Not much. Talked shit on the internet. Burned some toast and set off the smoke alarm again. You?
Paulson: I made $67 million in 25 minutes when Lloyds lost 5.9 billion pounds ($8.5 billion) in market value.
DI: Cool. Um, I forgot my wallet, by the way.

Paulson May Have Made $67 Million in Lloyds Plunge [Bloomberg]

Advertising

Posted 2/13/09 at 5:46 PM

Party Lines

The Wire’s J.D. Williams Has Some Advice for the Ladies

It's Valentine's Day tomorrow, and New York's intrepid Jada Yuan has spent the past few weeks finding out what New Yorkers are doing to celebrate the day. Unsurprisingly, she found a lot of New Yorkers were pretty cynical about theHallmark holiday. Stephanie March said that she and Bobby Flay "won’t be prisoners to that kind of marketing," and Chace Crawford said he'd "never been that into" Valentine's day. (We think this is because he's never had us show up at his house covered in whipped cream before. It will be different this year, Chace.) Even professionally uncynical celebrities, like Simon Doonan and Jonathan Adler, aren't that into V-Day. "We give each other gifts all year round, so Valentine's Day is kind of superfluous," Doonan said, causing us to barf a little. So instead of the usual roundup of celebrity holiday plans, we'd like to offer you a short compendium of advice, wisdom, and meditations on love in the age of Obama, courtesy of J.D. Williams, a.k.a. Bodie from The Wire, whom Jada ran into at Love, a performance of short plays, at the Angel Orensanz Foundation earlier this week.

"If he grabs your tits within the first two seconds, he’s nothing but a big grabber." »

Posted 2/13/09 at 5:10 PM

Media Deathwatch

Media Survives Friday the 13th … So Far

Media has survived the scariest day of the year ... so far. Like a horror-movie heroine, it's gotten creative in its attempts to evade death. But all around, the bodies keep piling up.

Read more »

Posted 2/13/09 at 4:30 PM

We All Die in the End

The DABA Girls May Have ?a Book, a Movie, and a TV Series?
The DABA Girls May Have ‘a Book, a Movie, and a TV Series’

"It seems UTA partner and board of director [sic] Jay Sures was up at 5 AM reading the article and jumped on the DABA website and emailed that he'd like to rep them. (The fact that these were all good-looking gals didn't hurt, obviously.) They saw the message and vetted Jay through a mutual friend at Lionsgate. Next thing they knew, every agency was chasing them: not just UTA but also CAA, Endeavor, ICM (who reps the NY Times and was really fighting hard), and WMA. But the Daba Girls chose Sures. Now there's going to be a book, and maybe a movie, and maybe a TV series." P.S. You look fat today. P.P.S. The winter has really fucked up your skin, hasn't it? P.P.S. The DABA girls are having sex with your boyfriend. [DHD]

Posted 2/13/09 at 4:19 PM

The Greatest Depression

Times Columnists in Smackdown!

Times Columnists in Smackdown!

Photo-illustration: Everett Bogue; Photos: Getty Images

Perhaps David Brooks and Paul Krugman should stop writing on opposite sides of the Times op-ed page, throw down their quills, and kick-box it out like the red-blooded, musclebound American he-men we know they are. Today, Brooks, usually the voice of moderation, cautions against a giant stimulus package that will leave us heavily indebted for years and maybe not even get the economy rocking anyway. But in the other corner, Krugman, volume set as high as his intellect, argues relentlessly for an even higher level of federal stimulus spending.

Set your clocks, audience, it's time for a Three-Round Brainfight!

It all comes down to who's the scariest... »

Posted 2/13/09 at 4:13 PM

Sad Things

Another Madoff Investor Commits Suicide
Another Madoff Investor Commits Suicide

Bill Foxton, a British army veteran who survived 30 years working peacekeeping and humanitarian missions in Oman, Bosnia, Kosovo, and Afghanistan, finally met his end this Tuesday when he shot himself in a public park after losing his life savings to Bernie Madoff. "He said he had lost all the money in the Bernie Madoff scam and he thought he was going to have to declare himself bankrupt," his son said. "My first thought was to show up at Madoff's trial in New York and throw all of my father's medals in his face." [BBC, Daily Mail]

Related: Madoff Investor Commits Suicide

Posted 2/13/09 at 3:52 PM

Bright Ideas

How Cool Would a Microsoft Store Be in New York?

How Cool Would a Microsoft Store Be in New York?

Photo: Getty Images

Microsoft gets more like grandpa every day. We love grandpa, although we’re not sure why he wears both suspenders and a belt, or why he occasionally shouts at the dog to stop stealing his caramels. But while senility is somewhat charming in grandpa, the same cannot be said about software providers. We shook our heads when we read this morning that Microsoft, eight years after the first Apple store opened in Virginia, was opening retail outlets, and that they'd hired execs from Wal-Mart to help them plan it. Wal-Mart! Oh, boy. As we all know, Apple stores are cool. The winding staircase. The open floor plan. The Genius Bar. Even the clerks with their hipster grins who seem to know a little too much about iPods. It all comes together in a way that makes a trip to get a computer part fun. We doubt such an improbable feat could be imitated by anyone, much less Microsoft.

How cool would a Microsoft store be in New York City? Andy Rooney spokesperson cool. Hamburger Helper for Valentine’s Day cool. Alex Rodriguez doing a "Just Say No" campaign cool. Gates and Co. will try to mimic the Apple buzz, but they’ll inevitably add their dorky spin.

We can see it now. »

Posted 2/13/09 at 3:20 PM

Early and Often

House Democrats Pass Stimulus
House Democrats Pass Stimulus

The 1,071-page, $787 billion stimulus package passed the House 246–183 this afternoon, and heads to the Senate for a vote tonight. There was still not a single Republican vote for the bill, despite the fact that over $30 billion was trimmed off the original and tax breaks were added. Partisanship: doing just fine, thank you. [Politico]

Advertising

Posted 2/13/09 at 2:45 PM

The Greatest Depression

For Hundreds of Lawyers, It’s Going to Be a Long Weekend

As many as 800 law-firm workers have lost their jobs in the past few days, according to various industry publications. Firms shedding workers include: Bryan Cave, Cadwalader Wickersham & Taft, Dechert, DLA Piper, Epstein Becker, Faeger & Benson, Fish & Richardson, Goodwin Procter, Holland & Knight, Lovells, Luce Forward, McDermott Will & Emery, Nixon Peabody, and Winstead. Above the Law is calling it "The Valentine's Day Massacre." [Above the Law via DealBook/NYT]

Posted 2/13/09 at 2:25 PM

Party Lines

Mario Cantone: Leave Michael Phelps Alone!

Like us, Mario Cantone is a fan of Michael Phelps. “I think he’s sexy and odd,” Cantone told us at the amfAR gala last night. And he also thinks the whole bong brouhaha has really gotten of hand. “I think they should leave him the fuck alone," he said. "I think it’s appalling, I think that that sheriff is like that guy that Dom DeLuise played in The Best Little Whorehouse in Texas, you know, he’s just not stopping and he’s trying to arrest everybody,” he vented. As for the companies that dropped Phelps's ads: “It’s ridiculous! Why would Kellogg’s fire him? It’s ironic, because the only thing you want to do when you’re high is eat cereal. So what’s that about? It’s very upsetting! They should leave him alone. It’s not like he shot heroin, and it’s not like he’s a junkie. He took a hit of pot; shut up. Shut up! He took a bong hit; he’s in his twenties, shut the fuck up and leave him alone!"

Posted 2/13/09 at 1:50 PM

Very Superstitious

How Unlucky Was Your Friday the 13th?

Today is Friday the 13th, and superstition dictates that unlucky things are supposed to happen. Why? We have no idea, and Wikipedia doesn't seem to either, though it may have something to do with Norse mythology, the Knights Templar, or The Canterbury Tales — meaning nobody knows and it's just a bunch of bull used to sell movie tickets. But as we thought about our days, we noticed a disturbing trend of bad luck. For example, Jessica's hair air-dried in a decidedly funny shape, and she also got the sixth sense that Chris, who is away skiing for a long weekend, scalded his tongue horribly while sipping hot chocolate. Or at least she hopes he did. And when Dan went to eat breakfast this morning, he was startled to find that he'd run out of bananas, even though he really would have preferred to put banana in his cereal. So Friday the 13th, so far, seems pretty legit. But we throw it to you, legion of commenters. Has anything unlucky happened to you today? Or, conversely, anything lucky?

Posted 2/13/09 at 1:15 PM

The Greatest Depression

The Greatest Depression Is Also the Greatest Excuse

No, really! We look forward to meeting this guy on the street! We just can't really afford it, is all.

No, really! We look forward to meeting this guy on the street! We just can't really afford it, is all.

It's hard to remember sometimes, but there are a lot of upsides to the current economic crisis. That's why it's the Greatest Depression! Single women will benefit when out-of-work finance guys dump their trophy wives for being nasty, greedy bitches. There are some fabulous sales and great restaurant deals. And the Greatest Depression also provides, as the Times points out today in an early-release "Styles" story, an excuse to not do something you don't want to do, like buy an engagement ring for your girlfriend of three years, or renew your gym membership, because In This Economy we should really all be cutting back a little.

And, we'd just like to point out, if you're in the sciences, you can use the Greatest Depression to deny funding for completely terrifying projects suggested by your co-workers, such as this one, described in another Times story today:

Dr. George Church, a leading genome researcher at the Harvard Medical School, said Thursday that a Neanderthal could be brought to life with present technology for about $30 million... Dr. Church said he had no plans for such an experiment, but if someone were eager to supply the financing, “We might go along with it.”

Hmmm, sorry, buddy! Maybe in 2010.

A Bad Economy Is a Good Excuse [NYT]
Scientists in Germany Draft Neanderthal Genome [NYT]

Posted 2/13/09 at 12:40 PM

The Greatest Depression

New York Tries to Stay Calm As It Awaits Stimulus Windfall

As the stimulus package is finalized, we're finally learning what specific goodies will be allocated to New York. With more than $21 billion coming our way, lawmakers sound pleased despite cautioning that the bonanza doesn't erase the state's budget challenges. Senator Schumer, for example, in an analogy that serial killers will grasp especially well, said that "instead of using a meat ax, we can use a rapier.” So what programs can we now stab instead of wildly hack away at? $12 billion in Medicaid aid could help prevent health-care cuts, but Governor Paterson isn't saying whether it will. He did, however, pledge to undo his planned teacher layoffs because of $2.7 billion in education aid. There's also $262 million to hire police officers, $500 million to improve water and sewer systems, and $1 billion for highway improvement, to name a few provisions. Of course, the $1.3 billion in aid to the MTA won't help forestall fare increases, because it can only be used for capital projects, not operating costs. But it will get us a nice, shiny new dome for the Fulton Street Transit Center!

Stimulus Funds Offer Relief to City and State [NYT]

Posted 2/13/09 at 12:20 PM

The Greatest Depression

Michael Moore Wants to Expose Wall Street Executives for the Scumbags They Are!
Michael Moore Wants to Expose Wall Street Executives for the Scumbags They Are!

Filmmaker Michael Moore has observed what has been going on with the American economy and detected a whiff of injustice. He has cast his eye toward the titans of Wall Street and has determined that some things went down at America's banks that were not right. So he's decided to make a movie about it, because he is the one lone voice in the wilderness brave enough to expose these scoundrels for who they truly are, blah blah. Wall Street insiders with a conscience and stories to tell him should e-mail bailout@michaelmoore.com. And remember, it's not for Michael Moore, it's for America: "You have information that the American people need to hear," he writes. [Michael Moore]

Posted 2/13/09 at 12:00 PM

The Sports Section

A Knicks Fan’s Guide to All-Star Weekend

Despite a current six-game losing streak that has extinguished most playoff talk, our New York Knicks have at least resembled an actual professional basketball team most of this season, which is a marked improvement over most of this decade. With all the cap space and freewheeling offense suddenly found at the Garden, visions of LeBron James and a future that’s not so embarrassing are filling fans’ brains.

But there's a lesson here. »

Posted 2/13/09 at 11:30 AM

Geniuses

Flying Financier Marcus Schrenker’s Wife Was ‘Shocked’ He Turned Out to Be a Wackjob

Matt Lauer had Michelle Schrenker, whose husband, Indianapolis financier Marcus, bungled a daring 25-point escape plan after being accused of defrauding investors out of millions of dollars, on the Today show this morning. "When you hear about what happened," Matt said, concealing a smirk as he ran through the details of Marcus's botched fake suicide — you know, how he left the script for the phony distress call he made in the plane when he jumped out of it and later sent an e-mail after he was supposed to be dead — "Does any of this sound like the man you were married to?" he finished. "Oh, no," she said, because what's she supposed to say to that? "Oh, yeah. That's just what he was like. Once when I got mad at him for not picking up the dry cleaning, he said he was moving out, and I found out later he'd been hiding in the bushes in the backyard for a week."

Posted 2/13/09 at 11:05 AM

White Men With Money

Will R. Allen Stanford Top Bernie Madoff?

We thought Bernie Madoff's world record in Ponzi-scheming would be safe for a while, maybe for all of time. But now comes the news that the SEC is investigating one R. Allen Stanford, a billionaire who runs a money-management firm out of tropical, tax-free St. Croix. To his moneyed clients, Stanford offers certificates of deposit that offer "unusually high and consistent returns" (double the market average, according to Business Week). Hmmm, where have we heard that phrase before? Oh, also: The company overseeing the firm's books is "a tiny accounting firm in Antigua" whose CEO recently died. Oh, dear.

Read more »

Posted 2/13/09 at 10:54 AM

Early and Often

Bloomberg?s Non-Billionaire Opponents Betrayed Spirit of Campaign-Finance Law
Bloomberg’s Non-Billionaire Opponents Betrayed Spirit of Campaign-Finance Law

In July 2007, Mayor Bloomberg signed a ban against contributions from limited-liability corporations, closing a campaign-finance loophole that had allowed business executives to bypass individual-donation limits. But the law didn't take effect until six months later. So what did rival mayoral candidates Congressman Anthony Weiner and Comptroller William Thompson do in the interim? Raise money like hell from limited-liability corporations! It wasn't technically illegal, just disappointing, say watchdog groups. But probably not as disappointing as the futile attempt to challenge the self-financing, bottomless pit of wealth that is Mayor Bloomberg. [NYT]


Advertising
Senior Editors
Chris Rovzar and Jessica Pressler
Managing Editor
Jessica Coen
Articles Editor
Nick Catucci
Recent News