Olga Kogan, wife of Russian billionaire Valery Kogan, is again asking the Greenwich P&Z commission for permission to add a more reasonable, 21,000 sq. foot, 15-toilet anex to their existing 21,127 sq. foot house at 18 Simmons Lane. The commission initially threw up on the original plans of an expansion 27,000 sq. foot house with 26 toilets.

The Governator Wasn't Kidding. California is on the verge of bankruptcy. Looks like not only will the state have to pay with IOUs, or worthless pieces of paper as they are better known, for all state purchases, but apparently tax refunds will be delayed as well. First by 30 days, then, indefinitely.

Cerberus is allegedly laying off 10% of its worldwide staff of 275 professionals. According to a spokesman "Any action we take will, of course, be consistent with the best interests of our investors." I wonder if those interests were consulted when the PE firm acquired Chrysler and/or the 51% stake of GMAC. Other PE firms performing actions consistent with investors' best interests include American Capital, Carlyle, Investcorp and 3i.

Hertz is firing a lot of very bored, airport rental lot operators. The heavily leveraged auto rental company (CDS in the 1250's last time we cared), is hoping firing a third of its workforce (as compared to August 2006) will make it profitable.

We like Southwest - cheap tickets, drunk passengers on the Vegas flights, hot passengers on others, sweet equity ticker... Yet something is fishy in the city of Dallas...

Every time I hear the CNBC jingle for the Obama Coverage (1:15:04 on the countdown ticker - exciting) i expect to see Louis XIV. Did they get this jingle from some decade old MIDI file? Did someone actually make money "composing" this?

For the full link to the 8-K, look here.

At this point on Friday we are too drunk to read thru this garbage.