Is there anything worthwhile left to report about the National Magazine Awards, now that you know that Jimmy Fallon reads Gawker obsessively, and Reader's Digest is America's best magazine? There might be!

ASME is done handing out awards to the top magazines again. By all accounts, the ceremony was an odd mix of depression and uplifting speechifying. Just listen to what Twitter is saying:

Here's the opening joke Jimmy Fallon told tonight at the National Magazine Awards: "I do most of my reading online. Just to keep track of the nice things they say about me on Gawker."

In your awardy Thursday media column: the recessiontastic magazine awards are here, newspaper meta-layoffs, Lenny Dykstra's canned, more justice for Chauncey Bailey, and advertising brainstorming:

Bonnie Fuller, the former Star and Us Weekly editor who now spends her days blogging for the Huffington Post, has always had a rep for being a horrible boss. Writers and editors who had the misfortune to work with her never lasted long; the stories recounted by the people who worked for her over the years are legion. So kudos to Samantha Ettus, the host of ObsessedTV, for broaching the subject in a chat with the editrix a couple of weeks ago.

How did plain-jane Treasury Secretary Timmy Geithner make People's "Most Beautiful People" list? His brother works there. Yea WE FIGURED. Because they totally left out Larry Summers. [Business Insider]

Former New York Observer editor Peter Kaplan has landed at Condé Nast Traveler as the magazine's new creative director. [WWD]

In your confuseday Tuesday Wednesday media column: Newspapers crumble, Clear Channel layoffs, total confusion in Wisconsin, and the NY Sun is just messing around:

• More trouble at Condé Nast: Ad pages at Vogue are down 31 percent this year and Vanity Fair experienced a 52 percent drop in May alone. The silver lining: Graydon Carter's lavish expense account remains unaffected. [NYP]
• The Sun really may be returning after all. As a website, that is. Seth Lipsky says "there's a business plan for the site in the formative stages." [Politico]
• This certainly isn't a good sign: It seems NBC is exploring the possibility of leasing out part of its headquarters in Washington D.C. [NYO]
• More desperate: NBC will air another season of Celebrity Apprentice. [THR]
• The Portfolio names/logos that never were (and more on its closing). [NYO]
• Al Roker will co-host a Weather Channel show called Wake Up With Al from 6 to 7 a.m. Because waking up with Al is what you've always dreamed of. [NYT]
• Oprah Winfrey's Twitter usage is way down. So much for that! [AdAge]

Don't despair, laid-off media types: you could still land this magazine editorial job. You'll never guess how much it pays:

It's not a great time to be a media conglomerate. Time Warner and Barry Diller's IAC both put out earnings this morning that are pretty painful. Especially for Time Inc.

A year before Portfolio's launch, the magazine produced mock-ups, obtained by the New York Observer. The titles are awful, but the cover lines reveal a compelling vision editor Joanne Lipman couldn't pull off.

In your brittle Tuesday media column: Angry newspaper editors, starry-eyed newspaper veterans, desperate newspaper companies, and dead newspaper revivals. And, Portfolio's final party:

Oh look, a new study perfect for supporting any old opinion! Pew researchers found that half of American adults switch religion at least once—Catholics, out of conviction, and Protestants, out of laziness. Theory!

It's no fun being a fashion reporter right now. Glossy mag circulations are dwindling, advertisers are jumping ship in droves, and you're likely to be humiliated in front of a TV camera at a moment's notice. But most challenging of all? You still have to somehow write about buying pretty things, despite the fact that no one is shopping anymore. So kudos to former Journal reporter Cheryl Lu-Lien Tan, who has gone beyond the played-out cheap chic and recessionista articles to identify a new species of shopper: women whose compulsive need to shop is actually exacerbated by the current economic climate.

When Tina Brown looks at the closure of Portfolio, she must worry for her future. Publications are now expected to turn a profit? Time for the notorious spendthrift to panic.

In your bitter Monday media column: Newspaper circulation predictably declines, Martha Stewart is predictably scared of us, old people predictably get conned by media hustlers, and Portfolio's unpredictable burn rate:

The victims of the Great Magazine Die-Off. Five more have been added to the Wall of the Dead since we did this last month.

• More on the decision by Condé Nast to shut down Portfolio. [NYO, Gawker]
• Newspaper circulation figures for the past six months show steep declines at most major papers, including the Times, Post, and Daily News. One bright spot: the Wall Street Journal, which experienced a tiny, 0.6% gain. [E&P]
• Phil Falcone's Harbinger, the hedge fund that battled for a piece of the New York Times Co. last year, may now be looking to unload its stake. [WSJ]
• CNN has fallen behind MSNBC and Fox News, as you may have heard. [NYT]
• PRWeek is going monthly. But it'll still be called PRWeek, so you know. [NYT]
• Obsessed starring Beyonce was No. 1 at the box office this weekend. [THR]

Conde Nast, Manhattan's most lavish magazine publisher, was once able to subsidize expensive and monumental magazine launches with newspaper profits. But now the last of its kind, Portfolio, is dead.