  We study the dynamics of $D$-branes in the near-horizon geometry of $NS$
fivebranes. This leads to a holographically dual description of the physics of
$D$-branes ending on and/or intersecting $NS5$-branes. We use it to verify some
properties of such $D$-branes which were deduced indirectly in the past, and
discuss some instabilities of non-supersymmetric brane configurations. Our
construction also describes vacua of Little String Theory which are dual to
open plus closed string theory in asymptotically linear dilaton spacetimes.
