Even though every magazine is dying and Christmas has officially been canceled, one brave publication is soldiering on with an expensive (non-Holiday) festivity anyway. It's Vanity Fair's legendary Oscar party (one year they had colored cigarettes in bowls! It's like the Governor's Ball, only cool!), which was sadly canceled last year because of the Communist writers' strike. Everyone assumed it would be nixed again this year, in light of everyone being broke, but bossman in charge Graydon Carter says it's on, baby:

The party will be a much more intimate affair than in years past; we’re going to scale back the guest list considerably. We’ll celebrate Hollywood’s big night the way we did when we first threw the party 15 years ago — it will be a cozier, more understated event. And one with familiar décor — given the current economy, and our dedication to the green movement, we will be recycling many of the elements of years past.

Ohhh. So it's just old used crepe paper from a coupla years ago, plus some of those colorful cigarette butts, and maybe some pizza bagels and only Kurt Russell and Goldie Hawn are invited, and they have to be waiters. The good thing, though, is that they can't afford to pay the electricity bill at the Sunset Tower Hotel (a business associate of Carter's owns that joint, so they're probs getting a sweet deal), so there won't be any power at all. That'll make it Green! It's admirably noble of Graydon and Co. to keep positive and upbeat while the industry firesales around them, but if they throw the party and then anyone gets laid off, that'll really suck. Vanity Fair Going Ahead With Oscar Party [Nikkie Finke]