Earlier today, Media Mob looked at Richard Pérez-Peña's New York Times Sunday Business article about Condé Nast chairman Si Newhouse.

In that article, Mr. Pérez-Peña noted:

Last year, Condé introduced one of its most expensive new titles, Portfolio, its first business magazine, which company executives predict will lose $150 million or more before breaking even in four to five years.

The price tag for Porfolio just keeps going up, apparently. In April 2007, New York Magazine's Mark Fass wrote, that the magazine had "a reported budget of $125 million, it’s the most expensive launch Condé Nast has ever done."

Previously, the quote had been $100 million.  read more »

Portfolio has a profile of Related Companies chairman Steve Ross today, and along with it, a video of the magazine's real estate forum at the Four Seasons last month, where Joanne Lipman, Portfolio's editor, queried—somewhat awkwardly, at times—Mr. Ross, Vornado chairman Steve Roth, and Elliman superbroker Dolly Lenz.

(For more on Mr. Ross, we have an unrelated story on Related and a West Side tower in today's print edition.)

Portfolio senior editor Bob Roe was fired this week, and his last day was today, Media Mob has learned. It's the first major firing this year in what has been a relatively quiet year for the magazine.  read more »

It's on the record now.

Condé Nast editorial director Tom Wallace gave the company's loudest and most forceful public support for Joanne Lipman, the editor of Portfolio. In a story in today's Women's Wear Daily written by Stephanie Smith, Wallace says the following: that the company "love[s]" Joanne Lipman; that she's an "ingenious" editor; that she's absolutely safe in her job; that the company is "extremely pleased" with the magazine.  read more »

Last night, at Columbia's journalism school, Joanne Lipman said that three years ago she got a call from Si Newhouse. She met with him, had lunch, and loved the conversation so much she would have been perfectly satisfied with her life even if she'd been struck by a truck on her way out the door of his apartment building.  read more »

Shortly after former Newsweek writer Dana Thomas signed a contract with Portfolio to become the latter magazine’s European editor, she celebrated with a “couple-thousand”-dollar shopping spree.

“The first thing I did after I got the job was go shopping, and I bought three new dresses and a pair of red boots,” she said. “They’re red suede boots and they go over the knee—they’re really hot.  read more »

Last week, Michael Kinsley arrived at 4 Times Square for a meeting with Portfolio editor Joanne Lipman and word of the meeting spread quickly through the building: Was he about to become the latest masthead addition to the monthly business magazine?

Not quite yet.

Mr. Kinsley told Media Mob that he was meeting with Ms. Lipman to give her a few pointers with how to run the magazine.  read more »

Another departure for Portfolio: Women's Wear Daily reports that Daniel Roth, a senior writer who came to the magazine from Fortune, is moving to another Conde Nast title, Wired, where he'll hve the same title.  Mr. Roth joins Katrina Brooker, Michael Caruso, Jim Impoco, and Kurt Eichenwald, among others, in heading for the exits at the fledgling business glossy.

Still, it wasn't all bad news for Portfolio editor in chief Joanne Lipman yesterday. She got a plum seating assignment next to S.I. Newhouse at his annual Conde Nast party at the Four Seasons, which Keith Kelly interprets as a vote of confidence.

When Women's Wear Daily reported last week that Chris Jones, the managing editor of Portfolio.com, was resigning, he appeared to be another casualty of a magazine in crisis. Was Mr. Jones joining Jim Impoco in heading for the exits after failing to see eye-to-eye with top Portfolio editor Joanne Lipman?

The answer appears to be no. But Mr. Jones’ departure may still tell us something about the fledgling glossy’s growing pains. According to two people familiar with the situation, the editor left because he believed that the growing influence of the magazine’s business team was compromising its editorial independence.  read more »

Chris Jones, Portfolio.com's managing editor, has resigned after clashing with Portfolio editor in chief Joanne Lipman over hiring decisions for the site, Women's Wear Daily reported this morning. Mr. Jones joins Jim Impoco--who was fired in August after also failing to see eye-to-eye with Ms. Lipman--as an early alum of the young business glossy .