Overnight Briefing & General Reality Check

BP Oil Spill --Day 90:

Questions are being raised about BP's future as a company. London's Sunday Times reports the oil giant could break itself up as an entity in the wake of the catastrophe in the Gulf of Mexico.
   The clean-up alone has already cost BP $3.5 billion just in three months. The claims could also total in the billions. And there are government fines in the tens of billions. BP has already lost $100 billion in stock value. (Maiman)

And if BP is sold or broken-up in any way, you know who might benefit the most? China. It's been rumored for a while now that the China National Petroluem Corporation might have enough cash to be a BP suitor.
   BP happens to have a 26-percent stake in Alaska's rich Prudhoe Bay oil field. So it's not inconceivable that China could buy up that portion of BP, and start making money off U-S oil. (Pacelli)

KFC "Double Down" --second look:

CNN Money reports KFC's much-touted "bunless" Double Down chicken sandwich --featuring bacon and cheese layered between two fried chicken filets-- did not do as well as hoped, selling about 10 million "sandwiches."
   So at $4.99 each, that means KFC pulled in approximately $49.9 million on the sandwich in four months. But while that may seem like a large amount, the company's CFO says that's "immaterial" for the company. And analysts say that's around five percent of KFC sales, and that sales of a big menu item should earn somewhere above ten percent.

Idle gossip & unconfirmed rumors:

Is MEL GIBSON leaving the country? That's what London's Daily Mail tabloid says.
   The Gibster with the road rage potty mouth is reportedly trying to get as far away as possible from his headline-grabbing scandal.
   In fact, he's so serious about leaving the country that he has already sold his homes in Greenwich, CT, and Malibu. The Greenwich home, a mock Tudor property known as Old Mill Farm, went for $24 million --though it was listed at $39.5 million in 2007. The Malibu house, Lavender Hill Farm, was just put on the market at $15 million.
   According to tabloid, he's supposedly moving back to his native Australia, where he will reunite with his ex-wife, ROBYN. (Maiman)

Reality Round-Up:

Looks like TIGER WOOD's mistress, RACHEL UCHITEL, will be on the next edition of "Celebrity Apprentice."
   The NY Daily News reports DONALD TRUMP called Uchitel three weeks ago and offered Rachel a shot on the next edition of the show, telling her she'd be "awesome." She reportedly said she'd be "honored." No confirmation yet from NBC or the Trump organization.

There's trouble on the set of "Jersey Shore." TMZ.com reports J-WOWW, RONNIE, SAMMI, PAULY D and VINNY are all on strike and refuse to shoot any footage for season three without a new contract. Sources say the crew believes they can simply make more money doing appearances for the next two months and refuse to show up for the job that made them famous. (Lee)

Grace notes:

What do you do if the lead singer of your band lands the lead role in a new Broadway musical? The members of CARNEY have come up with an interesting solution. The group's frontman, REEVE CARNEY, will play Peter Parker in "Spider-Man," which features songs by BONO and THE EDGE of U2. The band just came off a tour for its debut album, "Mr. Green --Volume 1," and Reeve went to Las Vegas to taking flying lessons with Cirque Du Soleil. Full rehearsals for the musical are supposed to start today in New York City with an opening set for this fall. While Reeve is on stage, the rest of Carney will be in the pit band for the show, and the band hopes to land a residency at a Manhattan club so they can do midnight gigs after some of the "Spider-Man" performances. (Marino)