So Conde Nast has hired McKinsey, the smartest people in the world, to "develop new perspectives" for them. What does it usually mean when McKinsey's asked to do that? Layoffs!

That was quick. Here is the grim memo that Condé Nast CEO Chuck Townsend just sent out announcing that it is bringing in McKinsey & Company to "develop new perspectives on optimizing our approach to business." This will be brutal.

Jimmy Fallon popped by Late Night to address yesterday's news that he would be taking over for host Conan O'Brien in 2009, an announcement greeted with wide-eyed, Christmas Eve wonder by the three TV executives who hired him, and, "Wait—that annoying dude from those DJ sketches on Saturday Night Live?" from everyone else.