Ivanka Trump has declared Twitter-war against Crain's-it's like a thumb war, but less lethal-over a profile of the Trump-Kushner business and romance union. She called the article "misinformed and pointless," which is just another sign of how smart she is: a dumb person would have called it "inaccurate," which would mean then that we would have to go through to show how all the facts were actually facts. (Although she has suggested that the Observer's real estate paper has "stolen" all of Crain's advertisers, which, *cringe*.) So, to the facts? They cover the $1.8 billion Kushner purchase of 666 Fifth Avenue. "The building's rents never covered debt service, according to Manus Clancy, senior managing director at Trepp, which tracks real estate debt. That situation has only worsened as office rents have collapsed over the past two years. A law firm that leases about 15% of 666 Fifth has announced that it is leaving, which will leave a huge gap at a time when big corporate renters are scarce." This is the nicest possible coverage of what is going on at 666. For instance, this summer, 666's consortium had to pay nearly $12 million to a bankrupt tenant. But even that's way less money than they're not making each month with their enormous and apparently permanent ground floor retail vacancy (which was sold off to the Carlyle Group). Basically the only way to make money off this investment is to call in Godzilla to step on the building.

Ah, to be young, listless and flacked. Behold the June Vanity Fair, which delivers a breathless inventory of the members of the heirs-and-heiresses set, who have squarely faced the challenge of "populist, economically perilous 2009" by rolling up their sleeves, spitting on their soft, bejeweled hands and getting down to work. As Bob Colacello marvels, these plucky young scions are "expanding the family business... striking out independently, launching a career in the arts... plunging into philanthropy." READ MORE