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Marc Jacobs, Tom Ford, and Tory Burch Nab CFDA Noms

Last night the Council of Fashion Designers of America unveiled the nominees for their 2008 awards, the Oscars of the fashion world. You'll never guess who got nominated for womenswear — Marc Jacobs. Surprise! He's in the running with Calvin Klein head designer Francisco Costa and the boys of Proenza Schouler, Lazaro Hernandez and Jack McCollough.

Danny Masterson to Open East Hollywood Boutique

It looks like That '70s Show's Danny Masterson isn't busy enough being a D.J., radio host, producer, and restaurateur — now he's looking to add boutique owner to his résumé. Teaming up with Ilaria Urbinati, former buyer for chic L.A. boutiques Milk and Satine, Masterson plans to open a shop called Confederacy, a high-end "mini–Fred Segal" in East Hollywood.

The Shining

Fall's runways were glittering with more than just A-list celebs. Sequins — which popped up last season — have stuck around for another go.

Tie Me Up

While bows tend to be ultrafeminine embellishments, designers are transforming them into sleek, urban additions on the runway this week. Proenza Schouler swept a chic white bow atop a traditional silk white blouse, while Thakoon tied a printed pattern variation around Coco Rocha’s navy belted coat. Meanwhile, Marc Jacobs fastened his knot front and center for a new spin on the classic black cocktail dress at Marc by Marc Jacobs. Come fall, we’ll be fit to be tied.

Critics Praise Proenza, Oscar But Wonder About Carolina Herrera, Halston

Proenza Schouler's fall collection delighted critics, even as they considered the clothes too unattainable for all but the designers' "socialite pals." Carolina Herrera's equestrian theme led to accusations of "costumery," Cathy Horyn is a powerful advocate for the resurrected Halston line, and Oscar de la Renta may be contemplating inaugural gowns. Our review roundup has the rest.

She's Got Legs

Tights have been a fall staple for years (just ask Lindsay Lohan). But the black leggings of the past are getting a colorful new makeover for fall. Erin Fetherston paired her simple black flats with blue nylons, while Proenza Schouler used mustard-yellow tights to set off emerald-green heels. Nicole Miller went the furthest, showing tights that were not only colored (maroon) but also patterned. Go ahead, girls, and show off your legs — whatever the hue.

Finance Types Split Over Hillary and Romney

FINANCE • Wall Street hopes Hillary has a super Super Tuesday, but private equity is standing by one of its own. Fourth-quarter campaign-financing reports show Senator Clinton taking in the lion’s share of donations from the Street’s top ten financial firms. Meanwhile, Bain Capital co-founder Mitt Romney is still tops among the PE crowd. [NYT/Dealbook] • So, what’s it gonna be, boy? Stuck between Microsoft’s rock and Google’s hard place, Yahoo! CEO Jerry Yang has limited options for saving his company at his disposal. [NYP] • If you believe the latest hype, Citadel is paving the way for an IPO after all. Ken Griffin’s asset-management firm has split its proprietary hedge-fund business from its client-based options-making business. “Legally, it makes it cleaner,” said Josh Galper in an interview. [Bloomberg]