The Wrap News of Note
By Jason Tanz

(FORTUNE Magazine) – INTERNET POWER PLAY Okay, let us get this straight. First we were offered high-speed Internet access via our telephone lines and cable TV boxes. Then along came Wi-Fi. But Internet via power lines? Well, yes, as Ohio residents have just found out thanks to electric utility Cinergy's planned new service (other companies are looking into similar offerings). What's going to hit the Baby Bells next? Broadband by mail?

LET'S GET READY TO RUMBLE New York attorney general Eliot Spitzer is reportedly pursuing a lawsuit against former NYSE chief Dick Grasso, who has resolutely refused to give up any of his $200 million pay and retirement package. Dick, if you still have hopes of leaving any sort of a legacy, you'll back down from a public battle that will only bring more scrutiny and embarrassment to your former employer.

LESS IS MORE McDonald's announced that it would discontinue its "Super Size" meal option, as part of an effort to promote a "balanced lifestyle." Investors approved, sending the company's stock to a 52-week high, but only in America could the recall of a seven-ounce serving of fried potatoes be spun as a great benefit to public health. (For the record, the "large" size is 6.2 ounces.)

CIVIL WAR REDUX The residents of Killington, Vt., voted to secede from the state and join New Hampshire, about 35 miles away, a move that would cut their property taxes in half--and relieve them of the responsibility of paying for fellow Vermonters' education. Secessionists argued that they were subjected to "taxation without representation." Um, no, guys. You just don't like paying taxes.

EGO IN CHECK Good corporate governance isn't always driven by shareholder fury. Michael Dell just handed his longtime president, Kevin Rollins, the CEO title, keeping only the chairmanship for himself. Rollins effectively runs Dell anyway, so Michael figured it was high time that job descriptions caught up with reality. And with at least one rival known to have tried to lure Rollins away, it can't hurt to keep him happy.