Early Jan 29 Headlines

• Economy on the brink: durable goods orders plummet, unemployment benefits hit record high (Bloomberg here and here)
• Citi follows in Merrill footsteps, cancels boondoggles, cuts down on trips (NY Post)
• Ford burns $5.5 billion in cash, changes tune, might need bail out after all (Bloomberg)
• Sexual harassment cases at Lazard likely about to surge (NY Post)
• Why is the chairman of an agriculture committee allowed to propose how to regulate CDS market? (Bloomberg)
• Fortune Brands sees less golfers, Moen buyers, whacks 2009 guidance to $2.00-$2.50, consensus $3.54, stock pummeled (PR)
• And a little more on the upcoming death of all things private equity (FT Alphaville)