A couple of weeks ago, the Post's Keith Kelly reported that execs at Condé Nast were growing increasingly concerned about the company's bloated Web budget. Well, it looks like they've figured out one way to trim costs: recycle content from other publications! Last fall, The Daily published a chart of famous fashion figures ideally suited to top jobs in the new administration. Today, Style.com published... a chart of famous fashion figures ideally suited to top jobs in the new administration. It's very nice to see that both The Daily and Style.com agree that Donna Karan should be Secretary of Health of Human Resources. She really would be a perfect fit. (We've always thought mandatory Kabbalah classes in public schools is just what this country needs right now.) The idea of Donatella Versace as Secretary of Defense (The Daily), or Karl Lagerfeld as Secretary of Transportation (Style.com)? Fortunately, both are foreign citizens, so you don't have to worry about those scenarios just yet.

• Gannett, the largest newspaper publisher in the U.S., is forcing thousands fo employees to a week of unpaid leave. [NYT]
• The NYT-owned Boston Globe is cutting its staff by 12 percent. [NYT]
• Penthouse is laying off staff. [Portfolio]
• Newspapers are saving money by outsourcing foreign news coverage. [WSJ]
• Hope you're interested in reading lots more about Bernie Madoff. There are a total of eight books about him now in the pipeline. [NYO]
• Here's something you didn't expect to hear: A recent study finds that commercials actually make watching TV more enjoyable. [AdFreak]

In 2005, Matt Taibbi wrote a takedown of NYT mouthbreather Tom Friedman's unique idiocy that remains the greatest thing ever written about the mustachioed private-jet-frequent-flyer. Now Taibbi has a new piece; top ten anti-'stache material.

For years, men who made the very personal decision to pop their collars—sometimes while gettin dollars—have been ridiculed. But now the august Wall Street Journal officially declares that collar-poppin is not "foppish" a bit!

New York magazine has dropped columnist Kurt Andersen, reports FWD. Of course, this has absolutely nothing to do with the layoffs last month or the salary cuts reported earlier today, which the mag's publicity chief, Serena Torrey, tells FWD weren't really cuts: Staffers are actually going to make more money now, she says. Good, because Bruce Wasserstein can clearly afford it! [FWD]

The last media company still hiring: Vice. [Folio]

Won't anyone tell us anything interesting about Obama's two picnics with the commentariat? No, because no one fun was invited.

In your grim Wednesday media column: Mandatory "furloughs," flagging magazines, canceled parties, and no more fancy office plants:

Barack Obama had a lovely dinner with a bunch of creeps at head creep George F. Will's creepy house, and now they all love him. Larry Kudlow is in lurrrrve!

Bernie Madoff just left for court for a 2:30 bail hearing. Media mayhem ensued! Police on the ground! Helicopters in the sky! A financial charlatan's drive to court is cable news' OJ car chase, 2009.

• Bad news: Magazine ad pages were down 11% in 2008 and 17% in the fourth quarter. Good news: They now take up less room in your bag. [AdAge]
• New York magazine is cutting editors' salaries. [ATD]
• Both OK! and the Star are laying off staff. [Jossip]
• Obama is expected to tap Julius Genachowski as FCC chair. [B&C]
• MSNBC plans to broadcast the inauguration at Starbucks locations. [NYT]
• Literary agent David Vigliano has filed suit against Lenny Dykstra. [NYP]
• John Mayer is taping a new pilot for CBS. [People]
• American Idol's debut roped in more than 30 million viewers last night, but that's down 10 percent compared to last year's premiere. [Reuters]

VIBE declares that its February Kanye West cover is "the only in-depth cover story interview granted to any major magazine surrounding the release of his controversial album, 808s & Heartbreak." But is it?

New York magazine, the bible of an entire class of affluent aspirationals, has already cut its masthead; now, it's instituting widespread pay cuts. In the "All New"economy, its audience is fading away.

A new site lets you make your own OBEY-style Obama poster ripoffs. Do it now while it's still cool! [Obamicon.me via Folio]

After election day, we gave Sarah Palin a simple five-step plan for her future success. But today, she continues to spend her time insulting bloggers and SNL. Time for an advice update. Listen, Sarah:

In today's media column: Time Inc still firing people, Plenty folds, a new FCC chief, a crazy media idea that won't work, and more!

Fortune magazine wants to send all the bad Wall Street people straight to jail—for ripping you off! Do you think Fortune knows the meaning of 'cognitive dissonance?'

Original Wonkette Ana Marie Cox has landed a gig at Air America radio. Maybe all those appearances on the Rachel Maddow Show finally paid off. With a job!

Vanity Fair's Graydon Carter was on the Early Show today sharing insider Hollywood tales. Graydon, why did Cleopatra have to schedule shots around Liz Taylor's menstrual cycle? "Ah...umbittyhumbittydahbahdoowelllllll..." I see. Click to watch.

• MSNBC is planning to broadcast the inauguration live in 27 movie theaters around the country. The tickets are free; the popcorn and soda are not. [THR]
• The White House has requested 10 to 15 minutes of airtime on Thursday evening so George Bush can give a "farewell address" to the nation. [NYT]
• Chris Rock has signed a book deal with Grand Central Publishing. [PW]
• Is Blake Lively's appearance on the cover of Vogue a bad sign? [NYP]
• Ex-Voice fashion writer Lynn Yaeger will be writing for New York. [NYO]
• Condé Nast has appointed Bill Wackermann to oversee Domino. [MW]
• Comedy Central will begin broadcasting in high definition later this month, just so you can enjoy Carlos Mencia in all his glory. [B&C]