With the media world collapsing under the weight of the oncoming financial apocalypse, Out held it's annual bash to celebrate all the most important gays in the village despite the fact that we're all going to be living in a Mad Max meets Caligula hellscape by this time next year.

"You couldn't help but feel that Out–which was sold earlier this year for pennies to the owners of the hereTV! network–might be throwing its last big party that every gay boy from Chelsea to Bushwick tries to get on the list for" declares The Observer in a piece that has everything but the iceberg.

There's Out publisher Joe Landry insisting that everything is fine, just fine and that gays are "still" spending money. And look! Our very own fearless leader, David Hauslaib warns "We haven't hit the tail end of this".  There's also a great bit where a bunch of anonymous partygoers are chuckling that there's no way they're going to be getting up the following morning for a scheduled Prop 8. protest rally at City Hall. Why fight for your rights when there's Absolut cocktails to be had?

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We dedicate Bob Seger's classic "Turn The Page" to publisher Joe Landry, who recently left BlackBook to rejoin the team at Out, which happens to be edited by former BlackBook editor Aaron Hicklin.

It's no secret PlanetOut Inc's been having some trouble.

Not only did the gay media company's stock take a tumble earlier this year, but ad pages have fallen in its primary titles, The Advocate and Out, a trend no doubt perpetuated by publisher Joe Landry's departure for BlackBook.

Now, in an attempt to turn things around, PlanetOut's publishing division, LPI Media, and a new publisher are hoping to take the titles in new direction: up.

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