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• Jason Wu's reaction to the news Michelle Obama was wearing his white chiffon gown to the inaugural balls? "I just dropped everything and jumped up and down and screamed." [MSNBC, WSJ]
• Simon Doonan was so overjoyed by Michelle's pick of Isabel Toledo yesterday that he "tore down the normal Barneys windows on Madison and put up celebratory Isabel Toledo window installations instead." [Fashionista]
• Best Wu-related fashion headline of the day: "Jason Who?" [NYO]
• Barack Obama may have worn a bullet-resistant suit to the inaugural parade yesterday, in case you were wondering. [NYM]
• Michelle donned a Tracy Feith dress to today's official prayer service. [WWD]
• The official Fashion Week lineup features 73 names, down from more than 80 in September. Also: Kelly Cutrone is discounting prices for designers. [WSJ]
• Sales at Coach are down and the chain's scaling back expansion plans. [AP]
• Are scrunchies making a comeback? [Pipeline]