David Carr's lovely profile of the New York Observer proves that it's an institution worthy of preserving - holy incubator of talent, batman! Lots of very talented alumni cut their teeth there back when they were pink with promise; I fail to see why Arthur Carter's burgeoning career as a sculptor should change that (Gawker offers some measure of comfort on that score, too). Nevertheless, if it is indeed for sale then hopefully whoever buys it won't screw it up.

For Sale: Fabulous Pink Money Pit [NYT]