FishbowlNY has learned that Portfolio deputy editor Jim Impoco was fired by EIC Joanne Lipman this morning. Impoco was essentially Lipman's right hand man at the magazine. As a longtime business editor for the Times and a former editor for Fortune, Impoco was largely responsible for development of Portfolio's business content. This comes at a surprising time for the trouble-plagued glossy; their second issue just finished (with largely positive press mentions) and they've generally been keeping a low profile. Although Conde Nast has confirmed Impoco's departure, a formal press statement has not been issued.

— Neal Ungerleider