Zell zinger

Union-busting Chicago developer Sam Zell is doing a deal with organized labor — and at a 20 percent discount. The $190 million residential tower being developed by Zell’s Equity Residential on Park Avenue South and East 28th Street will be built with union labor, Crain’s New York Business reported, citing a building-trades source.

Yahoo! leaper

Yahoo! social-science researcher Duncan Watts, the author of “Six Degrees: The Science of a Connected Age,” is leaving the firm for Microsoft, according to reports.

More talk

LightSquared and its creditors have agreed to a one-week extension of a debt-term violation waiver before a possible move to put the company into bankruptcy, WSJ.com reported last night, as majority owner Phil Falcone agreed to eventually step aside.

Hands on

Guy Hands’ Terra Firma, the buyout firm that once owned EMI, is close to an agreement to buy Four Seasons Health Care Group, a UK nursing home operator, for about $1.33 billion.