Paul Smalera, a Portfolio staff writer who was laid off before it shut down today, argues that it was hubris and an obstinate editor — not the economy — that doomed Conde Nast's business mag.

Conde Nast, Manhattan's most lavish magazine publisher, was once able to subsidize expensive and monumental magazine launches with newspaper profits. But now the last of its kind, Portfolio, is dead.

The layoffs at Hearst this week have already hit Redbook and Good Housekeeping. So as not to be sexist, now they've come to Esquire. We hear the upscale men's mag laid off four editorial employees yesterday, including two editors, and decreed that another open assistant editor position won't be filled. "They gathered…

Who did (troubled?) business magazine Portfolio select to put on its cover this month, in the midst of the greatest financial upheaval since the Great Depression? Dov Charney. Pervy, pacing, dog-loving American Apparel chief Dov Charney. There must be an explanation for this, right?

A long Times profile yesterday of Conde Nast chairman Si Newhouse describes him as a shy, unassuming man who putters around the office quietly in an old sweatshirt. This can lead to a pleasant work environment, but also some surprises: "Despite the influence he wields, Mr. Newhouse so defers to his editors and…

"Bethany McLean, co-author of a best-selling book about the Enron debacle, is leaving Fortune after a 13-year run to jump to Graydon Carter's Vanity Fair... It marks at least the third time that Condé Nast, which is headed by billionaire chairman S.I. Newhouse, Jr., has come calling on McLean, one of the…

Portfolio's Joanne Lipman must be chafing at the New York Observer's flattering profile of her managing editor, Jacob Lewis. For sure, John Koblin's piece is the first positive coverage of the business magazine in a while. But almost every passage, while praising the new managing editor's calming influence on the…

Lauren Goldstein Crowe, the Portfolio fashion blogger, posted her last post today. She continued the grand tradition of bloggers on their way out: the big fuck-you last post. Noted was Moe from Jezebel and other alleged meanies of the internet, who she had been advised to ignore. But she couldn't help herself!

Portfolio editor Joanne Lipman should learn rule number 63 or web publishing: by deleting a blog post, one only draws greater attention to it. On Friday, the Conde Nast magazine's media industry terrier, Jeff Bercovici, wrote a typically niggling piece for Portfolio's website about best-selling fabulist, Malcolm…

An online staffer has written in with a fairly lengthy account of the continuing discontent inside Condé Nast business magazine Portfolio. The anonymous tipster said that "every last person at the magazine" except new managing editor Jacob Lewis is lined up against editor Joanna Lipman, deputy editor Amy Stevens and…

The question weighing on the mind of the print media at large is, "In what month will I be getting laid off?" But in the luxury print media sector, the question is more like, "Will our readers be buying more, or fewer, private planes this year? And when should I buy mine?" As hard as it is for crusading journalism…

Bookslut sums it up perfectly: "Dear Conde Nast Portfolio: About your most recent cover... Women who are smart enough to attain powerful positions know not to wear white stockings. Especially with red Mary Janes. Contrary to what you might think, we don't run businesses while dressing like 11-year-old school girls.…

Portfolio magazine's highly conceptual covers were commercially foolish, but rather brave. The cityscapes and factory floors of the Conde Nast title's first four issues paid homage to an earlier, more confident era of magazine publishing, in which editors could survive a bad month on the newsstand. And then, spooked…

Congratulations, Portfolio, on that lovely advertising spread for Apple's ultra-thin laptop on pages 2 and 3 of last month's issue. Whatever anybody's said about the magazine's editorial leadership, nobody doubts the Conde Nast title's appeal to advertisers. Ah, but then, again, there's that editorial leadership.…

Portfolio, which Condé Nast started because there were no other credulous business magazines, has a story on why media companies should buy blogs, which is of course entirely wrong. Here's why Gawker Media, TechCrunch, Boing Boing and every other blog making over a million dollars should never be for sale.

GOOFUS (Matthew Cooper) begins his article on Obama's economic plan by admitting that it's not really any different from Hillary Clinton's, thereby undermining his whole story from the start. "So when I sat down to write about Obamanomics, it struck me to look at the delivery, not the script," he says, launching…

Dana Thomas' gig at Portfolio sounds wonderfully cushy. The former Newsweek writer, now European editor at Conde Nast's business title (she asked for the title because it sounded "very grand"), went on a "couple-thousand" shopping spree after she signed her contract, according to the New York Observer. We suspect,…

Joanne Lipman may be deaf to warnings from her colleagues. (The embattled Portfolio editor ran a poorly-sourced rehash of a 21-year-old story in the latest issue of the Conde Nast business magazine, despite protests from fact checkers and editors.) But that doesn't stop others from volunteering advice. The brittle…

The February issue of Portfolio, which just hit newsstands, has a superficially fascinating account of fugitive fraudster Robert Vesco, who ran Bernie Cornfeld's bogus mutual fund in the early 1970s, and then escaped to Cuba. Except the profile, based on a poorly-sourced book by a Fox News correspondent called James…