The Dow Jones drops below 8,000 points for the first time in five years, while consumer prices fall 1 percent, raising the threat of deflation. [NY Times] Joe Ardizzone—Willets Point’s only homeowner—rallies local businesses to fight Bloomberg’s redevelopment plan. [City Room] Hunter College study shows cyclists break traffic laws. Nah, really? [City Room] The Gramercy ...

Paris Hilton broke up with Benji Madden so she could return to pursuing attention full time. [US Weekly] Bill Clinton and David Paterson bonded over a back massage at yesterday's Triborough Bridge renaming ceremony. [P6] Jessica Biel will not be overseeing a handbag line for boyfriend Justin Timberlake's William Rast label which, given the quality of most celebrity ...