SECOND COMING: After four months of gestation — and media critics sharpening their knives — Condé Nast Portfolio will drop its September edition on newsstands Wednesday with profiles on both blue-blooded and well-tailored industries. The business magazine's cover story will focus on Cerberus Capital, the investment group that took over car manufacturer Chrysler Group. And, as a fashionable counterbalance, Portfolio also has a 10-page feature on François-Henri Pinault, head of PPR, owner of Gucci Group and recent acquirer of active brand Puma. The story, written by Nancy Hass, outlines PPR's business strategy, which includes emphasizing its brands instead of the designers who create them, but also details the relationship and passing of the torch between Pinault and his father, François, and the challenges at PPR divisions Gucci and Yves Saint Laurent, where, Hass writes, "Pinault will not name a year, much less a quarter," that the YSL division will turn a profit. But those scouring the magazine more for gossip than news will be disappointed: Not much is revealed about the relationship between the young Pinault and his pregnant fiancée, Salma Hayek, who is only mentioned briefly.
But the second issue wasn't produced without its share of turmoil. As reported last week, editor in chief Joanne Lipman dismissed deputy editor Jim Impoco after numerous clashes. Meanwhile, the New York Observer reported Friday that embattled senior writer and investigative reporter Kurt Eichenwald had resigned. Calls to Portfolio were not returned as of press time. — Stephanie D. Smith
DOT (NEW)COMER: Glamour's Web site has hired new editor Anne Sachs from ellegirl.com, where she was executive editor. Sachs will help manage the growing site, which this summer has been adding blogs by the minute. The latest include "Storked," penned by a pregnant 26-year-old and soon-to-be single mother. On Friday, blogger Perez Hilton began contributing "Pereztastic" — a weekly guest blog providing his trademark snarky commentary on celebrity fashion, though a quick perusal of his glamour.com content turned up more tame blog entries than the harshly critical opinions he often shares on Perezhilton.com. This fall, glamour.com also will roll out a political blog featuring commentaries on the presidential campaigns. — S.D.S.