We've mentioned the Observer's rundown of which parties you should be drunkenly crashing this season, but the listing for Teen Vogue has had some repercussions. The Observer writes:

Teen Vogue, Cond Nast hallway, 4 Times Square, ninth floor

The poor little well-dressed dears at Teen Vogue! We hear that editor in chief Amy Astley decided that instead of spending money on a party, she d give staff gifts instead everyone will be receiving the Grace Coddington book, Grace: Thirty Years of Fashion at Vogue. (Hope we re not ruining the surprise!) The theory behind the decision was that the young ones don t have the libraries in their apartments to match their pairs of shoes. Not all is lost, however: We hear that the girls will have chips and margaritas in the hallway. Ol ! Careful when you mix tequila with Ritalin, things happen.

A report from deep within Astley's dungeon comes our way; apparently, this announcement of a rollicking hallway celebration with a craptastic holiday gift (which has replaced last year's celebration at SoHo House) has the Mini-Vogue staffers already researching face value on the Coddington book so that they can quickly sell it on eBay. To make matters worse, big sister Vogue has decidedly not invited the Teen staff to its glam Perry Street party. It's just not the holidays without a family in crisis, right?

UPDATE: It's even uglier than we thought! We're now hearing that the advertising department at Teen Vogue IS having a party and the editorial staff isn't invited! Since when does the biz staff get to snub the editorial crew? What gives over there?
Power Elves Party! [Observer]