MCI Inc.

Roger Lowenstein is a rare commodity: a financial journalist with no apparent ax to grind, who seems  read more »

• After the Duke Semans mansion entered the market last summer, several other pricey properties came on with a $50 million asking price, including this one. Now, former WorldCom director Francesco Galesi is cutting the price of his River House co-op down to $39 million. "Baronial Grandeur" aside, isn't it worth it to share the neighborhood with Henry Kissinger? (New York Post)
• When Charles Grodin went before the board for his Riverside Drive apartment, they never even brought up his co-op bashing play. (New York Times)
• In the past year, two grand spreads have moved at 998 Fifth Avenue--Manhattan's first luxury apartment building. However, one more remains: Anne Slater's "classic fourteen." Check out the slideshow! (New York)
• Although this was posted a couple days ago, considering that The Observer has reported previously on Russell and Kimora Lee Simmons' difficulties selling their Liberty Street spread, we couldn't resist. Now, it remains to be seen where all these properties will end up after the divorce. (A Socialite's Life)

- Michael Calderone

As anyone who lives or works near Union Square Park can attest, cars and pedestrians—especiall  read more »

As anyone who lives or works near Union Square Park can attest, cars and pedestrians—especially at  read more »

As of this evening, CNBC is airing new "First on CNBC" commercials, touting the network's scoop this afternoon on the sentencing of WorldCom chief Bernie Ebbers. But the spots are understating just how exclusive the breaking-news report was: CNBC's initial live bulletin announced that Ebbers had been sentenced to 30 years in prison--five years more than he actually got.

Federal judge Barbara Jones ruled the 30-year sentencing guideline "excessive" in Ebbers' case, giving him a 25-year hitch. CNBC came back a few minutes later to offer a corrected bulletin, which the network is now using in its promos.  read more »

By the time the corrected report went out, though, Reuters had already picked up the bad 30-year version of the story--attributing it to CNBC.

--Leon Neyfakh

A Mathematician Plays the Stock Market , by John Allen Paulos. Basic Books, 216 pages, $25.  read more »

Real-estate magnate and embattled WorldCom director Francesco Galesi has slashed $7 million off the  read more »

What do you think of the market?  read more »

The myth of the moment is a recycled Naderite cliché, clung to by Republicans as they are inundated  read more »