Momentum / Angular Momentum Problem

[amcavoy]

Here is a link to my problem:

http://img494.imageshack.us/img494/9849/honors108gn.png

At first, I said that the speed after impact would be:

V_{\small{CM}}=\frac{1}{M}\sum_{i}p_{i}=\frac{mv}{ 2m}=\frac{v}{2}

Is this first part correct or am I doing something wrong here?

Thanks a lot.