The Round-Up: Thursday

The city quietly, yet drastically, scales back its original school construction plan to create just 42 (not 76) new buildings

The city quietly, yet drastically, scales back its original school construction plan to create just 42 (not 76) new buildings over the next five years. [NY Times]

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Christie’s gets roughed up by Wall Street, as a major auction of highly-prized modernist art sells for less than half the low estimate. [NY Times]

Report shows Wall Street bonuses may plunge by 20 to 35 percent this year, possibly dropping as far as 70 percent for a few chief executives. [NY Times]

Hoping to close the city’s budget shortfall, Bloomberg proposes raising personal income taxes by up to 15 percent and sales taxes by 3 percent, among other measures. [NY Times]

Nancy Cataldi, a major Richmond Hill preservationist, dies at 55 of a brain aneurysm. [NYDN]

Lehman Brothers CEO Richard Fuld finally calls it quits, promising to leave by January 1 and give up all bonuses and severance packages. [NYDN]

As the gap between LEED-certified buildings and those that are simply eco-friendly closes, NYC is getting greener than ever. [NY Post]

Gimme Shelter: Tommy Hilfiger rents Park Avenue quadraplex for $50,000 a month; Noami Watts and Live Schreiber eyeing a Tribeca duplex even while they’re in contract for two condos at One Madison Park; former Lehman CFO Erin Callan in contract to pay up to $8 million for an East 66th Street condo. [NY Post]

Fossils dating back 220 million years found on Civil War-era grave at a Staten Island cemetery. [NY Post]

Manhattan judge reverses an earlier decision and allows UWS scammer Dina Wein-Reis out on bail, while other court proceedings reveal Wein-Reis to have $100 million in personal assets. [NY Post]

News Corp.’s profits soar 6.3 percent to $7.5 billion. [NY Post]

Only 42 applications were filed to refinance distressed mortgages as part of the Hope for Homeowners program since its launch on October 1. [WSJ]

Vacation rental companies hope to make the process of renting a vacation home a little less anxious and a little more dependable. [WSJ]

The Round-Up: Thursday