The News: The Mighty Fall (Not Madoff)

When employees come into New York nowadays, Goldman Sachs has them spend their nights at an Embassy Suites in lower Manhattan. It's just one of the ways the firm is trimming costs on its way to weathering the storm.

At Goldman Sachs, Trimming Costs Means Bunking at Embassy Suites [WSJ]

At Stake for Madoff in Hearing: His Freedom [NY Times]

And...

Oppenheimer Plans Move to U.S. [Dealbook]

JP Morgan Chase Expanding India Outsourcing By 25%? [InformationWeek]

Jobs for Fed-Up Wall Streeters: Here Are the Next Big Ones [Deal Journal]

Goodbye Wall Street [MarketWatch]

Seven costly mistakes workers make when they leave a job [MarketWatch]

People

Key Principal Partners Corp. Announces Four Promotions [Key via BW]

Rockefeller & Co., Inc. Appoints Jon V.M. Pratt Managing Director for Institutional Relationships [Rockefeller via PRN]

Ex-Goldman, Putnam managers to start hedge fund [InvestmentNews]

UBS to Name Joint Head of Media Investment Banking [Dealbook]