Two sad good-byes

Conde Nast Portfolio magazine folds...a shame, because it was excellent.

And, after 15 brilliant years, Peter Kaplan is leaving The New York Observer. His signoff:

I had a little newspaper in New York City! You can't beat that. No matter who you are. I had a little newspaper in New York City. That's as good as it gets. It's better to have a little newspaper in New York City than a big newspaper in New York City. Because then you only have to report and write for the people you care about. And nobody else.