Delta and Northwest to Fly in FormationFINANCE
• High fuel prices and a soft economy have sent Delta and Northwest Airlines running into each other’s arms. The two could announce a definitive plan to merge as early as next week. [NYT]
• Senate Republicans have axed a proposed economic-stimulus bill. The Dem-proposed $158 billion package, which sought to avert a full-fledged recession, came up one short of the required 60 votes. [FT]
• But, no worries. Economists put odds of a U.S. recession at 49 percent, which means we’re not technically there yet. Also, for what it’s worth, this video is funny. [WSJ]
company town
Hedi and LVMH: Together at Last!FASHION
• Hedi Slimane is back in talks with LVMH to launch his own fashion house. Everyone, commence jumping up and down. [WWD]
• IMG is behind Bravo’s new model show but won’t be giving the winner a contract. [Fashionista]
• Not even Cavalli can rev up H&M’s sales. [NYP]
company town
The Bancroft Family High Jinks: Ongoing!MEDIA
• The Bancrofts are so dysfunctional that they missed the deadline for choosing their representative to the new Dow Jones board. Murdoch then vetoed two family nominations before agreeing to Natalie Bancroft, a 27-year-old opera singer and journalism neophyte. Family member Crawford Hill concluded: “This entire, sad and pathetic final episode is a fiasco. No wonder we lost Dow Jones!!” [WSJ]
• With the Times hiring former sex writer Susan Dominus as the newest “Metro” columnist, will the section be heading toward the look of “Sunday Styles”? [NYO]
• Nora Ephron: Blogging makes us better writers. Hey Nora, can you call our boss? [Mixed Media/Portfolio]