The JetBlue pilot who was restrained and hospitalized after a bizarre midair meltdown last Tuesday was transferred from the hospital to the Federal Court Building in Amarillo this morning to be arraigned. Clayton Osbon faces charges for interfering with a flight crew, which could carry a 20 year prison sentence. He'll be transferred to the Randall County Jail after the hearing, the Amarillo news channel 10 reports. The arraignment comes as newly-enhanced video shows his frightening meltdown in much greater detail: more ›

Between the pepper spraying incidents, the stabbings, the knifings, the beatings, the acid attacks, and the unending violence, we have no interest in setting foot in a high school anytime soon—and we greatly admire all those teachers who do, even when it seemingly costs them their sanity. One Bronx high school teacher had a complete breakdown in front of his students yesterday after one student reportedly misbehaved. “He kind of lost it a little bit. He was taken away on a stretcher,” a fellow teacher told the News. more ›

Earlier today, singer Chris Brown had a meltdown/tantrum/something that involved a smashed window and leaving ABC's Times Square studios shirtless after his Good Morning America segment. He was on the morning talk show to promote his new album, F.A.M.E., and it's suspected he was unhappy that he was asked about his felony assault for beating former girlfriend Rihanna. So, how does one possibly deal with the stress of being famous and having to deal with the past? By joining a pickup basketball game in the Village! more ›

Don't be alarmed, but a reactor at that nuclear power plant 35 miles north of the city was shut down yesterday, after a malfunction at 4 p.m. Details are still sketchy, but it's being reported that the main electrical generator malfunctioned "safely," triggering an automatic shutdown of the reactor. The plant's owner assures WPIX there was absolutely no threat posed to workers, nor to the excellent people of Peekskill. (But for future reference, here's the "Indian Point Emergency Guide.") The incident comes 66 days after another generator malfunction shut down the plant, and 600,000 gallons of boiling, radioactive water turned to steam and was released over the lower Hudson Valley. Also in November, a report found thyroid cancer cases in counties closest to the plant are the highest in New York State, and among the highest in the U.S. more ›

With the year anniversary of Lehman Brothers' collapse—and the subsequent global economic meltdown—approaching (September 15, 2008 is when Lehman filed for bankruptcy), there are plenty of stories from ex-employees. The Post says "a number of former Lehman employees in its fixed-income, emerging markets and other banking areas will be heading to various watering holes and clubs near Lehman's former Midtown headquarters on Sept. 15, for events that promise to be equal parts networking, reminiscing and working to erase that terrible chapter of their careers"—so consider that a warning! A former mortgage securities broker now admits to the NY Times, "I have blood on my hands," but thinks others are more responsible for the downfall ("regulators, senior executives, rival firms and traders who believed that their elaborate computer algorithms insulated them from risk"). And the Daily News notes that Famous Famiglia pizzeria, right near Lehman's headquarters, had to lay off five of 27 employees. more ›

It's the New York banking equivalent of the Enron meltdown: Bear Stearns has agreed to sell itself to JP Morgan Chase at a fire sale price. When Bear Stearns' 14,000 employees left work Friday afternoon, the bank's stock had already plunged almost 50% in value, closing at $30 a share. But today they found out something much, much, much worse: their company has been purchased for a piddling $2 a share. That's $236MM for a company that was "worth" $3.54 billion on Friday. That's a 93% discount on Friday's closing price, and a 99% discount off January 2007's price of $170/share. Given that Bear Stearns' midtown headquarters had been valued as high as $1.5 billion, the firm's liabilities must have been enormous. more ›