• High fuel prices and a soft economy have sent Delta and Northwest Airlines running into each other's arms. The two could announce a definitive plan to merge as early as next week. [NYT]
• Senate Republicans have axed a proposed economic-stimulus bill. The Dem-proposed $158 billion package, which sought to avert a full-fledged recession, came up one short of the required 60 votes. [FT]
• But, no worries. Economists put odds of a U.S. recession at 49 percent, which means we're not technically there yet. Also, for what it's worth, this video is funny. [WSJ]
Fashion can be mercilessly fickle: Designers are quite often dismissed just as soon as they're discovered. So thank God for Derek Lam, who has slowly, methodically, and quietly worked his way toward a collection that is now a mainstay of what we consider American fashion.
Derek Lam invited New York’s fashion director Harriet Mays Powell to his studio, and our cameras tagged along. Will Lam use lace for fall 2008? Or will he go with embroidery and pleating? It’s all out on his design table, but Lam wouldn’t get specific beyond admitting that purple and green are his favorite colors. But his fashion philosophy is worth remembering: “If a woman feels comfortable in her skin, then she’s the best-dressed one out there.” For more advice from Derek Lam, watch the video.
Video: Inside Derek Lam's StudioMore videos!Studio Tour With Chris BenzStudio Visit With Michael Kors
Ford's Supermodel of the World competition last year launched model Chanel Iman (who was a runner-up) into the freezing, barely breathable atmosphere of the modeling world. Since then she's modeled for Marc Jacobs, Proenza Schouler, and Derek Lam, among many others. She was also featured on the cover of Vogue last year in an homage to fashion's new supermodels. So anyone who says the annual Ford contest isn't a ticket to stardom is just plain wrong. Click above to view some backstage video of this year's competition and model interviews with New York's Jada Yuan.
Ford Supermodel of the World [NYM Video]
Right about now, protesters are gathering in front of Henry Kravis's home at 625 Park Avenue for the world premiere of The War on Greed: Starring the Homes of Henry Kravis, a Fabulous Life Of–style documentary that contrasts the private-equity magnate's income and lifestyle against those of normal working people. In the film, which, according to the Times, is being screened on "high technology sandwich boards" worn by protesters, filmmaker Robert Greenwald asks some normal people what they would do if they got to live in one of Kravis's opulent homes for the holidays. "I would sell everything in it and give the money to charity!" one woman squeals, predictably. But not everyone's so self-righteous: "I probably wouldn't even enjoy it," says one woman. "I'd just probably go home from work, go to sleep, then have to get back up and work again." We know how she feels. In fact, we're too busy on our own hamster wheel to go uptown to watch the movie, which is why we found it on the Internet. (You can click the picture above to watch it.) And wait a second: Where did independent filmmaker Greenwald get the money to pay for those fancy high-tech sandwich boards? E-mail us if you know about his secret trust fund!
War on Greed [Official site]
A Movie and Protesters Single Out Henry Kravis [NYT]
Yeah, hey, it's me. I'm at Starbucks. Guess who's sitting right behind me. [Whispers] Chelsea Clinton. She's sitting right behind me. I don't know, she's typing on her laptop. She's sitting on the floor. She looks hot these days. Totally hot. I mean, way hotter than when she was like 13. No, I'm at a table. What? You think I should give her my seat or something? No fucking way, dude.Chelsea Clinton at Starbucks: We Have Soooo Been There [Jezebel]
We're on Fashion Week's last lap, and the reviews are still rolling in: Michael Kors's latest collection receives major kudos and Derek Lam reminds us why he's the industry darling. But why did Phillip Lim draw such a mixed reaction? And could DVF do better?
Throughout the week, the buyers from Kirna Zabête, Henri Bendel, Intermix, and more will tell us which runway looks they plan on stocking. Today, Sarah Easley, co-owner of Kirna Zabête, shares her picks from the recent collections. She loves Narciso's coral dress, Tuleh's caftans, and Derek Lam's leopard silks.
There was no shortage of commentary backstage at the Derek Lam show: Fabiola Beracasa and Lam discuss the art of balancing his eponymous line with his work for Tod's, Amanda Ross declares Lam's "classic" designs to be among her favorites, and Bergdorf buyers have bought Lam's lines in full force. But as well designed and accessible as Lam's work may be, ever-honest Times critic Cathy Horyn is still searching for something more.
1. At Michael Kors, we flipped for the pointillist Seurat-print caftan on Angela Lindvall.
2. The light-gray, leopard-esque dot print on blouses, dresses, and even a scarf at Derek Lam. We'll take it. Also, the elegant satin robe over a sequined evening dress. Finally, a chance to call something "soigné."
We were such innocents a mere eight days ago. Times were much simpler then; we had hope in our hearts and an unfailing optimism that our job covering celebrities in Fashion Week's front rows would be like shooting fish in a barrel, minus the ricochet.
Even though not as many famous faces showed up as we'd have liked, we managed to come out the other end a very happy, sated pair. After all, we love clothes, Champagne, and sandwiches, and we got a lot of all three this week. Here are some of the highlights and lowlights of our second stint covering the celebrity turnout at Bryant Park and, yes, of the 37 shows we saw, we didlike a lot of the clothes.
It won’t be hard to slip into next season’s dresses with so many exposed zippers. Though his overall show got tepid reviews, Derek Lam was dead-on in incorporating visible zippers into most looks. Carlos Miele’s dark, ruched dresses came with a sexy zipper up the front. And Behnaz Sarafpour highlighted her external zippers all the more with bright yellow trim on an otherwise subdued gray dress. So come fall, remember to zip up.
After rolling over for the big names — Marc Jacobs, Carolina Herrera, Oscar de la Renta, and Diane von Furstenberg all got raves — the critics sharpen their talons on the second tier of designers who haven't quite made it to the major leagues yet. Who exactly did Derek over-reference? Can they take away Doo.Ri's CFDA award? And is Narciso just bored?