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The Annals of Socialite Upstarts: Out With Olivia Palermo, in With Emily Brill?

Fab Four
So January was cold, and February was short, but now it's finally March. And you know what that means? It's party time! No, not for you. For people who matter. We know since SocialiteRank.com shut down nearly a year ago, you haven't been as able to keep track of what's been going on with Tinsley and Zani and Margherita, but, trust us, they're still out every night, flawlessly executing that arm move that Ellen Page has been trying to imitate! See, March is when the events for young socialites really begin in earnest. Last night saw the Riverkeeper benefit at the Hearst Tower, hosted by the ecocharity's junior council. Scheduled next week is the American Museum of Natural History's Winter Dance and the Frick's Young Fellows' Ball. A quick peek down the list of all the host committees show that, this year, all the fun is dominated by one set of friends. Claire Bernard, Maggie Betts, and Jamie Johnson are on the committees of all three of the above events, and they are joined here and there by Amanda Hearst, Hudson Morgan, Annie Churchill, Andrew Black, Derek Blasberg, and Byrdie Bell. This is a little bit of a shift away from the Tinsley-Dabney-Lydia axis, but it's essentially the same gang. Which isn't surprising, only…where's Olivia Palermo?

Edelstein Reacts to the Oscars

Was that especially uneventful, Lynda, or will all Oscar ceremonies henceforth play as if they’d already happened once before in a galaxy far, far away?

Ellen Page Keeps Doing This Thing With Her Arm

Page
Now, we like Ellen Page as much as everyone else. She was super-cute in Juno and we even concede she is probably doable even though we're a gay and a chick who's not into that. But there's this thing she's been doing that bugs us. This thing with her arm. It's kind of like a variation on the standard red-carpet pose — hand on hip, shoulders back — that one does to make one's arm look thin, only Ellen does it in this really extreme way. It's almost as though she is about to bust into the Funky Chicken, but with only one-half of her body. As you can see from the above photo, the arm has moved further and further back as she has progressively become more famous, until it is now almost almost perpendicular to her body. We're starting to become quite concerned, not just because if this continues Ellen might actually dislocate her shoulder, but because the pose kind of screams, "I'm a red carpet novice! And also probably weird about my weight!" and you know, we just don't want her to go all Jennifer Hudson on us and win an Oscar and only pop up again playing a bit part. Related: Ellen Page Not Doable Enough to Win Best Actress, Blogger Claims [Vulture]

America's Real-Estate Conflicts, As Enacted by the Hearst Gals

Veronica Hearst
Veronica Hearst is using her Fifth Avenue apartment and a property in upstate New York as collateral in case the auction for her 52-room mansion in Palm Beach doesn't hit $40 million. Meanwhile, her step-granddaughter Lydia Hearst just bought a $1.49 million apartment in the Sheffield 57 on West 57th. Damon Dash got freaked out by the lunar eclipse. CNBC's Money Honey, Maria Bartiromo, has joined the board at her alma mater, NYU. Cindy Adams thinks Ellen Page is, uh, "a young, white, female Obama."

Nick Lachey and JCPenney Do Not Mix, Even If Paid to Do So

Nick Lachey
Nick Lachey threw a hissy fit at a JCPenney party on Hudson Street, despite the fact that he was being paid to be there. Michael Strahan says he loves girlfriend Nicole Murphy, but isn't sure about marriage. Execs at Sony are annoyed that Michael Jackson's Thriller 25 is on the Billboard oldies' chart instead of the Billboard Top 200 chart, despite the fact that it has six new songs. Nelly picked up the coat-check girl at Plumm. Outkast's André 3000 is looking for an apartment in the city and just toured a multi-million-dollar penthouse on West 13th Street. Justin Timberlake gave menu recommendations to patrons at his Southern Hospitality.

The Oscars: Who Will Drink Whose Milkshake?

Despite the cancellation of the Golden Globes ceremony (quel agony!), there was no way that Hollywood could have gone without its annual orgy of self-congratulation.

Being Filthy Rich Means Never Having to Say You're Sorry

FINANCEFortune searches Davos for financiers to express contrition over the current credit crisis but comes up empty. The closest anyone has come, the magazine notes, is the chairman and chief executive of Moody's Corp, who said, "We and others have to retool our processes … In hindsight, it's clear to us that there were fundamental failures in key assumptions supporting our analytical models." Quoth Fortune: "That's probably a little too mealy-mouthed and much too late to console people who bought the mortgage-backed commercial paper to which Moody's and its rival Standard & Poor's gave a top-notch AAA rating — only to discover it was actually junk." Snap! [Fortune] • Just how big a fraud did Jérôme Kerviel, the rogue French trader, pull off? Before the bank caught him, he had taken out positions worth 50 billion euros. But some argue that he was responsible for only 1.5 billion euros in losses, and the bank's board lost the other 3.4 billion euros unwinding his positions way too fast. Meanwhile, top executive Jean-Pierre Mustier told the Times: “I was speaking to a competitor, this competitor called me and said, ‘You are living what is a banker’s worst nightmare.’” Imagine how dramatic that must have sounded in French. [FT, NYT] • Bonuses now in the bank, Goldman rewarded bankers for a record-setting year with a special surprise: layoffs! [Deal Journal/WSJ]

Oscar Nominations: A Sad Day Indeed

Not because the voters’ choices are lousy (although they tend to be) but because so many worthy movies suddenly lose their luster.