Cityfile: New York's Most Notable and Influential

♦ Detroit's Big Three automakers presented new turnaround plans (and their request for $34 billion) to Congress yesterday. [WSJ, Bloomberg]
♦ Merrill Lynch plans to cut year-end bonuses in half. [Bloomberg]
♦ Now that it's turned itself into a commercial bank, Goldman Sachs is thinking about starting an online banking operation, too. [DB]
♦ Goldman is tapping Gerald Corrigan, a former head of the Federal Reserve Bank of New York, to serve as chairman of its bank holding company. [FT]
♦ Billionaire financier face-off: One of Carl Icahn's companies is suing a firm owned by Leon Black. [NYT, NYP]
♦ Ramius Capital, the struggling hedge fund operated by Peter Cohen, is closing four of its funds. [WSJ]

It's not just Ferrari dealerships and private clubs that are feeling the pain as hedge funds wither: Property owners in Midtown are now seeing a record number of finance tenants pull up stakes. Ramius Capital spent $22 million on marble office space at 599 Lexington Ave eight months ago and is now now looking to sublease one of its three floors. Old Lane, which was co-founded by Vikram Pandit and sold to Citigroup in 2007, has put 20,000 square feet at 500 Park Ave on the market. The Carlyle Group's Blue Wave fund is unloading its space at 1177 Sixth Ave. Over at 9 West 57th Street, which is home to Henry Kravis's KKR and Leon Black's Apollo Management, there is 30,000 square feet available on the 26th floor now that the Clinton Group is downsizing. And it turns out that Scott Bommer, the founder of SAB Capital, isn't just looking to dump his apartment at the Ritz-Carlton. His hedge fund is looking to dispose of 9,000 square feet at the GM building, too.