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You've probably heard that these are grim times for Condé Nast. Editors and publishers may be asked to cut spending by 25 percent, further layoffs are expected in the coming weeks, and several other magazines may shuttered entirely. If you're anything like us, you've probably been sitting at home asking, "What can I do to help?" Obviously, you could subscribe to one of Condé's magazines. But let's be honest: A $10-a-year subscription to Glamour isn't going to exactly turn the ship around. One much better way to deliver a few bucks to Condé's bottom line: Consider purchasing one of the fine, overpriced items on sale in the Condé Nast store! Last week, The New Yorker started selling wristwatches featuring the magazine's mascot, Eustace Tilley. But there's plenty more to choose from. A few suggestions below.More

• David Pecker's magazine empire may avoid bankruptcy after all. [NYP]
• The mood is expected to be bleak when Sundance kicks off next week. [WSJ]
• Discovery has signed Paula Zahn to create a weekly news show. [THR]
• An op-ed and podcast by Bono in the Times will debut on Sunday. [JR]
• Three more Politicker sites have been shuttered. [Jossip]
• The spring issue of Men's Vogue will be bound inside Vogue. [WWD]
• Katie Couric chats about feminism, Hillary, and the future of TV news. [CNP]

♦  The Times has the skinny on "Martin Eisenstadt," the supposed McCain consultant who leaked info to the press. (He's an aspiring filmmaker, not surprisingly.) In the meantime, MSNBC's retracted its story. [NYT, AP]
♦  You might be enjoying CW's Stylista, but the ratings thus far haven't been especially encouraging. [NYO]
♦  Two new cast members, Michaela Watkins and Abby Elliott, will join Saturday Night Live beginning this weekend. [NYT]
♦  Showtime is developing an hour-long show by Stan Lee about a gay superhero. [Variety] More

Condé Nast announced yesterday it planned to scale back publication of Men's Vogue to two times a year. But not before Condé took one last opportunity to rope in Men's Vogue readers to renew their subscriptions! A reader was kind enough to send in this renewal offer he received last week, which offered two years ("20 issues!") for the price of one. But as he pointed out, when a Vogue title stamps "Free Gift Enclosed!" on the envelope and the gift turns out to be a flimsy bookmark, that's a pretty good sign the end is near.

♦  A first look at Charlotte Ronson's line for JCPenney, I Heart Ronson, and her new $30 dresses. [Nylon]
♦  Details on the cuts at Men's Vogue: The mag will be published just two times next year and publisher Marc Berger is leaving. The fate of other staffers is unclear. [Mediaweek]
♦  Damien Hirst's latest collaboration with Levi's includes pairs of jeans for $230 and $83 t-shirts. [WWD]
♦  Plastic surgeons report interest in cosmetic procedures is dropping fast. [NYT]More

Condé Gets Nasty | Condé Nast publishers and editors have been instructed by the powers-that-be to cut both their staffs and budgets by five percent immediately. Also, to the 29 faithful subscribers to Men's Vogue, please be advised the magazine may be closed down in the near future. [NYO]

1) At the New York premiere of spy thriller Traitor at the Regal Union Square last night, the film's stars Don Cheadle, Guy Pearce, Said Taghmaoui, and Mozhan Marno walked the red carpet along with director Jeffrey Nachmanoff, Busta Rhymes, Jesse Williams, Estelle, Aubrey O'Day, and Nicole Miller. [NYO/Wireimage]

2) Further downtown mayhem surrounded the opening of the Nike sportswear store at 21 Mercer Street: Giant electronic billboards and a marching band heralded the arrival of Roger Federer, Maria Sharapova, and Serena Williams, who were joined by Mark Ronson (who DJed), Annabelle Dexter-Jones, Spike Lee, Katy Perry, Richie Akiva, Q-Tip, Justin Theroux, Alan Cumming, Cory Kennedy, Lily Cole, Alexander Wang, and many others. [Teen Vogue/PMc]More