The inaugural celebrations came in waves last night — Commander-in-Chief's Ball, Youth Ball, Neighborhood Ball, Southern States Ball, Western States, and on — but the new president stayed in high spirits.

• There were bound to be a few dramatic moments at the inaugural parties last night: Sheryl Crow had an awkward run in with her ex, Kid Rock, in the lobby of Donovan House. John Legend was forced to make a last-minute stop at Bloomingdale's because his girlfriend didn't have a gown. Susan Sarandon got a reporter kicked out an event for daring to ask a question. And Jennifer Lopez and Marc Anthony showed up so late to the Neighborhood Ball, they almost didn't get in. [P6, WP, Politico]
• One possible explanation for Lopez's late arrival: She was spotted at the Scientology Center in LA yesterday morning, trying to sneak out of the building without being noticed. [NYDN]
• Another headache for John Travolta and Kelly Preston: A politician in the Bahamas may have been part of a plot to extort money from the couple following the death of Jett Travolta. [OK!]

The inauguration was a dilemma for late-night shows, which had to joke about an event Americans tended to consider moving and joyous. Surprisingly, the Bush-bashing Daily Show had the most biting commentary.

Ego was at play, to be sure, in Mark Whitaker's pronouncement that "it's a grim time in New York... down here [in DC], there's a great sense of excitement." But power is shifting.

CNBC, the cable business network, claims to have "policies and guidelines" that are "strictly followed." One of them appears to be presenting company flacks as secret "sources." Tech reporter Jim Goldman adheres to it religiously.

Amazing what people fetishize these days: Gray hair, dark circles under the eyes, average-at-best height, a missing middle finger? Rahm Emanuel, Obama's chief of staff, beat conventionally gorgeous policy advisor Melody Barnes in our poll.

Bob Dickey promised he would "be sharing the financial hardship" after furloughing his workers. He warned the Tucson Citizen might shut. Then he joined fellow Gannett bigwigs at a golf resort.

Michelle Obama's hairstylist, Johnny Wright, has landed a deal to star in a reality show. The more interesting news? How his previous experience working with the First Lady is described. Wright handled Michelle's hair for the Democratic National Convention, but he was also responsible for styling her coif "for her upcoming appearance on the cover of Vogue magazine." Guess that confirms that! [Reuters]

We may be isolated in the cold of Park City, but at least we can reasonably assume a relatively low risk of shootings, stabbings and other moviegoing carnage plaguing other parts of the country.

While America was celebrating hope and inclusion and being awesome, British media and academia were conspiring to blame our black squirrels for stealing the lovers and food of delicate native reds. RACIST.

We had heard that Defamer legend Courtenay Semel and Casey Johnson might retreat to Sundance for some make-up time after Semel mistook her on-again, off-again girlfriend for kindling a couple weeks back.

· The Mayan hosts the Art of Change Inaugural Ball, featuring multimedia vaudeville troupe the Mutaytor and the Crystal Method, helping move your feet in the right direction.

Even before its Sundance premiere, we postulated that An Education would be a great fit for Sony Pictures Classics and predicted a sale in the neighborhood of $4 million.

In the week leading up to President Barack Obama's inauguration, it was open season on the outgoing president on political TV. Even conservatives like Ken Blackwell and Scott McClellan joined in the jeering.

We caught Adventureland this morning, the latest from Greg Mottola, a former TV director on shows like Undeclared and The Comeback who broke through in a big way with 2007's Superbad.

Just like that Patrón shot you probably shouldn't drink at the end of the night, the networks bring you extended primetime inauguration coverage. We warn you: There is such a thing as a hope hangover.

Did you hear Twitter is now bigger than Digg? That's because you can't vote on Obamanaugural headlines by text message. More OMG Barack!!!!!!1!1!! tweets from the media elite:

The meeting took place at last night's German premiere of Valkyrie, and we've got video of Cruise interacting with a particularly insistent Anonymous member who's far more interested in getting Cruise to autograph his mask than to chastise him on his evasive endorsement of earth-people pills. Cruise is remarkably obliging; however, we don't recommend attempting the same signature coup with samurai swords. That never ends well.

[Barack Obama arrives to his inauguration at the Capitol; via Getty]

• Two people very happy this evening: Jason Wu, who designed Michelle Obama's one-shoulder white chiffon gown; and Isabel Toledo, of course, who was responsible for the lemongrass-yellow coat and matching dress that Michelle wore to the inauguration. [NYT, AP, WWD]
• As for Malia and Sasha's outfits—and Michelle's olive gloves—don't go searching for them at J. Crew just yet. The pieces won't be available to the general public until fall. [Reuters]
• Trousergate, fashion's latest catfight: Giorgio Armani has accused Domenico Dolce and Stefano Gabbana of copying his quited trousers; bitchy comments on both sides have followed. [Guardian]
• A first look at Alexander McQueen's new line for Target. [Nylon]
• News flash: There aren't that many blacks on the catwalks these days. [NYT]
• Profits are up at Burberry, but the company is still cutting staff. [WSJ]
• Aretha Franklin's inaugural hat can be yours for $179. [WWD]