• ATTENTION, KMART DEFENDANTS: Federal prosecutors on Friday dropped their case against two former Kmart executives indicted on fraud charges after the government’s star witness fumbled on the stand during testimony. Enio Montini and Joseph Hofmeister were charged with booking a $42 million payment from one of Kmart’s vendors during a single quarter, rather than over the life of its contract. The accounting irregularity allegedly resulted in the retailer underreporting its financial losses. The trial against the two began at the end of last month, but the case collapsed when its star witness made inconsistent statements on the stand.

  • PALLOT PROMOTED: Jamie Pallot has been appointed editorial director of CondéNet, the online affiliate of Condé Nast Publications. Pallot continues in his role as editor in chief of Style.com, while also assuming editorial responsibility for Epicurious.com and Concierge.com. Pallot is a Web veteran, with more than 12 years in the medium. Before joining Style.com in 2001, he served as an editorial consultant to Time Inc. Interactive, where he played a key role in the redesign of People.com. He’s also held posts at Sidewalk.com, Microsoft’s online city guide; Canada’s Shift Magazine; iGuide (now TV Guide Online), and the Virgin Movie Guide.

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