Cityfile: New York's Most Notable and Influential

• Betsey Johnson reports that she's thinking about retiring this fall. She plans to hand over the reigns to Eric Sartori. At least assuming he manages to "Betsey-fy himself," that is. [Cut]
• Kanye West's line of sneakers for Louis Vuitton has been delayed, but photos of the $700 kicks can now be viewed online. [Racked]
• Lauren Conrad, Mandy Moore, Jennifer Lopez: These are not very good times for celebrities-turned-designers, as you may have heard. Not that the bad news is stopping J.Lo from launching yet another fragrance, of course. [ABC News, People] More

• Angelina Jolie was seen apartment hunting in Washington Heights. This comes weeks after Angie and Brad signed the lease on a $100,000-a-month home on Long Island. [Us, NYP]
• Michael Phelps has been hanging out at strip clubs, since it's the only place he can go without having his photo being taken. Good thinking. [P6]
• Lindsay Lohan showed up to a party at Southern Hospitality on Sunday so she could hang out with Chace Crawford. But then he ditched her and she spent the rest of the night "glued" to model May Andersen. [OK!, P6]
• Sarah Jessica Parker says the next Sex and the City movie will have to be more recession-friendly. You think? [Us]
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A recap of the shows, parties, and gossip you've missed at Fashion Week thus far after the jump.More

• Kelly Cutrone says normally at this time of year she'd be flying in a chef from India to cook for her. But this Fashion Week she's cutting back on account of the recession. Bring us a tissue! [WWD]
• Arnold Scaasi did not like Jason Wu's gown for Michelle Obama: "I don't think the inaugural gown was flattering in any way... She could have looked much better." Yeow. [NYT]
• Despite the rough economy, Justin Timberlake's William Rast label is holding up nicely. [NYM]
• Anna Sui has landed a book deal. [Fashionista]
• The plywood has been removed outside Topshop in Soho! [Racked]
• Marie Claire is giving away taxi rides to promote Running in Heels. [FWD]
• Istithmar may sell Barneys for less than half what they paid for it in '07. [BN]
• Rents are falling in the garment district, duh. [NYT]
• An alcoholic's guide to Fashion Week. [Pipeline]

• Can Michelle Obama single-handedly save America's fashion industry? Here's hoping! [NYT]
• Following the horrific holiday season, Macy's says it plans to close 11 stores in nine states. [AP]
• Communist chic is in. And just in time for the collapse of the capitalist system, too! [NYT]
• William Rast, the brand backed by Justin Timberlake, will make its Bryant Park debut next month. JT will not be performing, though. [WWD]
• Peter Som and backer Creative Design Studios have parted ways. Because of the split (and the economy), a Som show during Fashion Week is not in the cards. [WWD]
• Eight designers you need to know in 2009. [Refinery29]
• Obedient Sons & Daughters is closing its doors. [Style.com]
• New York magazine's fashion-centric biannual spinoff title, New York Look, has been discontinued. [WWD]