"Recently, there has been a great deal of outrage concerning the huge pay and severance packages awarded to a number of CEOs. There has been much criticism of the fact that CEOs earn 520 times that of the average worker. A great deal has been made of the scandalous actions of a number of CEOs and boards concerning the backdating of options." [IR]

A sentiment so nice he said it thrice.

Though billionaire investor and Yahoo pain in the ass Carl Icahn was supposed to start blogging today, about corporate governance, at IcahnReport.com, the website's only piece of content thus far is this: "This page is parked free, courtesy of GoDaddy.com." Perhaps the domain Carl should've registered is Icanh'tReport.com.

BILLIONAIRE BLOGGER Carl Icahn is starting a blog, The Icahn Report, about corporate governance. It won't cover any companies in which he owns stock, so there should be material for at least two or three posts. [Reuters]

Late yesterday afternoon at the St. Regis Hotel, Carl Icahn debuted a wallop of a proposal to split Time Warner into four distinct companies. Something about increasing the value of each unit .. the sum of the parts was greater than the whole .. yeah, something like that.

But somewhere between the collating and the page counting, reporters got it wrong. Just how big was this proposal? If you ask the New York Times or Business Week, it's 342 pages. If you ask Media Week or Reuters, it's 343 pages. (And if you ask Forbes or The Motley Fool, they just ignore your question — and the page count.)

Which begs the question: Do cover pages count?

• We told you back in September that French Vogue editor Carine Roitfeld was handing over the reigns of the December/January issue to Kate Moss. That was before Kate's coke "incident," but that didn't sideline the guest editorship. Witness: The four-cover (sort of) aftermath. [FWD]

• Carl Icahn continues his all-or-nothing demands at Time Warner. This time he wants to split the media company into four autonomous divisions (cable TV service, Internet, publishing and movie/TV studios), thus giving him enough time to distract the board so he can complete his evil takeover plan. [FT]

• Hardline journalists will tell you a reporter's job is to observe, not participate in, the news. And then Hurricane Katrina happened. And so did Anderson Cooper. [AJR]

• Since Liz Spiers found herself a book deal and ditched Mediabistro, the glorified media hobnobbing site has been searching for an editorial director. It's since found one: a one Dorian Benkoil, whose experience at Fairchild's (nonexistent?) Internet division will surely win over visitors. [Gawker]

• When the B-list sleeps together, it increases their crabs count, not their their celebrity. [Cityrag]

• The woman receiving the world's first facial transplant had only thanks to offer after the operation. She's doing just fine and, if she continues to heal successfully, Chelsea Clinton will go ahead with hers. [NYT]

• Janice Dickinson might be drowning in bottles of Cristal, but what's her excuse for wearing the same bikini three days in a row? [PXThis]

• Spike Lee isn't taking any responsibility for movies like Barbershop and Beauty Shop. He just wants to open up the possibilities for black filmmakers — or anyone who wants to make a movie not about Jews. [Slate]

• Entertainment Tonight proudly breaks news that, well, everyone else broke weeks ago: Gwyneth Paltrow's preggers. [ET]

• The Live 8 folks are suing TrimSpa over Anna Nicole Smith's appearance there, saying she was drunk and "scantily clad." Our guess: when she was offering rockers "free samples", she wasn't referring to the weight loss med. [E!]

• Because he always knows what's right, Carl Icahn thinks Time Warner's stock would be trading much higher if his decisions were put into place. Namely, breaking up Time Warner. [Business Week]

• During this morning's online chat, WaPo exec editor Leo Downie Jr. says he doesn't think Bob Woodward should resign — though he does believe he should've shut up on TV. [WaPo]

• At this point we really don't need Wenner Media "insiders" to tell us that Jann Wenner and Kent Brownridge haven't been getting along of late, especially since Gary Armstrong in marketing refused to go to alcohol rehab. [WWD & Lowdown]

• British publisher Emap is said to be mulling the sale of its American FHM — and Hearst looks interested, even after shuttering the never-seen Bullet. [NYP]

• Jeff Zucker is tired of blogs receiving so much attention. All the buzz that My Name Is Earl has received, however, he's totally cool with. [Daily Northwestern]

• Since he's on the way out anyhow, we're applauding Ted Koppel's public lashing of President Bush. "One fiasco after another" is how he tells it — just like ABC News! [NYP]

• Colleen Curtis is leaving the Cooke jar at the Daily News to become a supervising editor at Good Morning America, where she's expected to feed us reports on exec producer Ben Sherwood's rage levels. [NYP]

• Good news: Dick Cheney isn't Bob Woodward's source. Bad news: Dick Cheney is still your vice president. [AP]

There's been plenty of talk about Time Warner spinning off its cable unit thanks to pushes by bully investor Carl Icahn, but depending on who you ask right now, there's some pretty blurry indication as to which way the board will vote.

If you're listening to Forbes and Merrill Lynch, you get this "not gonna do it" version.

Regarding the proposed cable spin-off, Merrill said such a significant change in the company's business mix would necessitate a change in management. "We do not believe this is likely," the research firm said.

And yet the New York Post and its unnamed sources carry a different tune.

Carl Icahn may end up taking credit for the idea, but Time Warner management had been moving toward a complete spin-off of its cable unit long before the financier put the media giant in his crosshairs, The Post has learned.

While no final decision has been made, spinning off the entire cable division — as opposed to the small portion the company has announced it will sell — has been gaining currency among Time Warner management. …

One source close to the matter said it is now likely that a full spin-off will occur, resulting in a separation between Time Warner's content businesses and its cable unit.

Whichever way they go, could someone at least submit a memo requesting Jossip be removed from their free AOL CD mailings? Thanks dolls.