Former money manager Paul Greenwood, 62, pleaded guilty in late July to securities fraud , admitting that he cheated charities , schools, pension funds, and others out of $800-$900 million, even using some of those funds to buy collectible Steiff Teddy Bears and invest in horses. He faces up to 85 years in prison and hundreds of millions of dollars in fines. Sentencing is set for December 1, 2010, and an auction to sell the Teddy Bears and other “collectibles” is expected later this year.

You can buy anything these days, especially in New York City. To wit, Guernsey’s auction house said a copper chunk of nose crafted to fit the Statue of Liberty ‘s face during her 1980s restoration will be auctioned on September 24 at the Park Avenue Armory . The two-foot-long section was one of four created to replace the Statue of Liberty’s nose, and it’s the only one that likely ever will be sold.

Carolina Herrera will receive the distinguished title of “Mercedes-Benz Presents” designer for this season’s spring/summer 2011 collection debuting on Monday, September 13, at 10 am at Lincoln Center, the new home of Mercedes-Benz Fashion Week . The Mercedes-Benz Presents program has recognized designers who demonstrate dedication to the use of quality materials, unique style and innovative design for the past seven years