This placard arrived at mediabistro HQ this morning announcing newly-annointed Time managing editor Richard Stengel's first issue. The flipside is a letter from Edward McCarrick, Time's president and worldwide publisher, who compares the athleticism of Stengel to that of Stengel's predecessor, Time Inc. managing editor Jim Kelly.

Rick is the better athlete, however, having played on Princeton's 1975 NIT-winning basketball team.

We'd like to take this opportunity to offer to team up with Kelly to take on Stengel and whomever he chooses (John Huey?) in a little old-school two-on-two. You name the time and place, Stengel, and we'll be there ... likely stretching.

A copy of the full memo: