Things have gotten so glum over at 4 Times Square that S.I. has hired Michael Sheehan, a crisis manager to try to turn around not only the press on the beleaguered publishing house, but also the spirits of those who still work there, according to the NY Post’s Keith Kelly.

Just to put this in context, Sheehan was the guy AIG went to during its troubled times, and he’s even coached presidents Bill Clinton and Barack Obama.

The idea apparently came from Lucky publisher Gina Sanders, who also happens to be married to a Newhouse (Steven) after she noticed that morale was at an all-time low. Well, obviously. I mean they’ve laid off almost 500 people and closed six magazines. Everyone knows the glory days are gone and there’s nothing fun about that.

We’re just wondering what Sheehan will bring to the table to make the media, advertisers and employees change their doomsday mentalities. We hope it’s more akin to the re-positioning of Barack or Bill, because we still don’t have many warm and fuzzy feelings for AIG.

The Vanity Fair International Best Dressed List has always somewhat baffled me. Maybe baffled isn’t quite the right word, but I’m always amused by what a mixed bag it is.

Of course, I don’t expect it to be a straight-up list of fashion folks, as that doesn’t truly represent the people covered regularly in VF. But man, do they throw in some random curveballs.

This year is no exception. Not surprisingly, both Michelle and Barack Obama (dad jeans, notwithstanding, I guess) make the list along with a smattering of royals, other world leaders, and their spouses. Think Carla Bruni-Sarkozy and Sheikha Mozah of Qatar.

The fashion crowd is represented by Natalia V. and husband Justin Portman, Rachel Roy, Georgina Chapman, Tory Burch, and Franca Sozzani (love!), among others. On my questionable list is Stacy Bendet’s “Hello Kitty meets Joan Jett. Randomness” personal style. She’s a choice that makes me go…hmmmm.

Girl On Film: Home schooled kids so did not look like this where we grew up. And they certainly didn’t get to appear in ads with Bambi. {W}

Hot Damn! The big three are looking killer. Can we age this way, pretty please? {Fashion Gone Rogue}

Just Like US: Janice Min is leaving US Weekly after spending years making it one of the few bright spots in gloomier by the day magazine land. But if we had to look at that many pictures of the Gosselins, we’d probably want to bolt too. {Gawker}

Welcome to the Club: The CFDA named 31 new members including Alexander Wang, Chris Benz, and MK & A. Big ups to you all. {WWD}

“I’m A Little Frumpy”: So says the president in defense of wearing the same jeans that my dad wears every weekend. We actually find it rather comforting. {HuffPo}

The Fourth of July/celebrate America’s birthday angled press releases are rolling in this week. We promise to post any that get utterly ridiculous, like that Obama pasties set.

But this lingerie-themed invite might just interest a few of you, or perhaps your significant others.

Hanky Panky (my most favorite brand) is hosting a belated birthday party for our fine nation next week at Cipriani Wall Street, complete with an incredibly reasonable $40 price fix dinner and an informal fashion show.

Random? Sure. But also sounds like it could shape up to be a fun evening if you get the right group together.

Full invite and details after the jump!

We’ve been pretty open with the fact that our favorite couple in fashion at the moment is more certainly Lorenzo and Marc. Marc, of course, has always held a special place in our hearts but Lorenzo is quickly making a move for that number one spot. We’re still swooning over his adorable shorts at the Governor’s Island polo match.

And today’s WWD made our hearts swell just a little bit bigger. Lorenzo co-hosted a party with Interview on Sunday in honor of gay pride and marriage rights equality with a silent auction that benefited amfAR. Photographers like Jack Pierson and Steven Klein donated their work.

We’re huge fans of theirs but we really wish we could have gotten our hands on Lorenzo’s stylized print of a shot he snapped of the Barack and Michelle Obama on the television on election night. “The picture is called ‘Election Love’ and is about the intimacy between Barack and Michelle, even in public,” he said of his creation.

Because some days, love is really all we need.

“In many ways, the first lady has made people see — really see — black women for the first time. For example, when a black model appeared on the May cover of Vogue, news articles credited the ‘Obama effect,’ ignoring the concerted lobbying by fashion industry activists that began long before Barack Obama was even a presidential contender…Enthusiasm over glossy-magazine beauty as defined by a darker-skinned black woman has to be seen against the backdrop of history, when black women’s appearance was used as a tool of oppression. High culture rhapsodized in love sonnets about ivory complexions, flaxen hair and ruby lips. And today, black women still mostly surface as sidebars in beauty stories.” Robin Givhan in her interesting story from today’s Washington Post on Michelle Obama’s cultural role, and her real and fictional predecessors.

Obviously, we don’t think we’re alone in loving that President Obama is pretty much the hippest guy to hold his position, well, ever.

But we’re quite sure we’ll never tire of examples of this.

Like the fact that the guest list at the White House Correspondents’ Dinner now includes people like Chace and Ed, Jason Wu, Donatella and so many others from our little world.

And of course, the guests are all looking their chicest to impress the first fam and the fashion press, who have taken coverage of MObama’s sartorial choices to an almost stalker-ish level. Not that we have a problem with that.

With Gossip Girl and fashion designers in the mix, it is really starting to feel like “our” White House, too.

“He’s always asking: ‘Is that new? I haven’t seen that before.’ It’s like, Why don’t you mind your own business? Solve world hunger. Get out of my closet.” - Michelle Obama, on dodging her husband’s inquiries about her shopping, to the New York Times.

No matter which side of the proverbial aisle somebody’s on, if they’re truly into fashion, they seem to be incredibly interested in what the next First Lady wears, some even going so far as to dub her “Lady O,” an obvious reference to our last First Lady style icon, Jacqueline Kennedy. But here’s what’s interesting - her husband might be overshadowing her.

Not only has Puff Daddy (we refuse to call him anything else), proclaimed that Barack Obama’s elegance will be used as a point of reference in marketing his new Estee Lauder fragrance I am King, and not only did a Bosnian suit maker famously name one of his styles “the Obama,” but now Hart Schaffner Marx, the Chicago-based menswear company favored by the President-Elect, is marketing itself as the place to get a suit if you’re trying to dress “Presidential”, and even has an upcoming West Wing collection, according to WWD.

Michelle’s clothes may be racking up hits for J. Crew’s site, but has anyone named a dress after her, or claimed that a collection was inspired by her style?

Also, we can hardly think of any mainstream male style icons (does David Beckham count?), let alone those who were Presidents. Could this be the first time an American President becomes as known for his sartorial choices as for his political ones?

Guess we’ll have to wait and see. But in the meantime, we wonder if anybody’s submitting sketches for his inaugural suit…

Hey, did you know we vote in the next President in about five weeks?

Because if you work in fashion (or if you own a TV, buy newspapers, etc) there’s no way you could’ve missed it.

Way back in August, it was announced that a bunch of very cool designers (Zac, Marc, the Costello boys, the Rag & Bone boys, Narciso.. - and we don’t think we need to tell you Alexander designed the long tank at left) would produce some cool merchandise for Barack Obama’s official online store. And now that it’s up, we’re amazed they talked Marc all the way down to $75 for one of his bags (a canvas tote).

Then during Fashion Week, Barack pins became a hip accoutrement, as seen at Doucette Duvall and Rachel Roy (literally), to name a few.

Then Anna jumped in with that huge fundraiser, and Michelle Obama reciprocated by wearing fashion favorite (but mainstream nobody) Thakoon on the national stage twice, and now Marc’s decorated his Bleecker Street storefront with not just Obama love, but Biden caps to boot.

So, is it helping out fashion’s favorite candidate for President? Guess we won’t know for a few more weeks. But in the meantime, we really wonder whether there are any McCain supporters among the fashion designer set, and what kind of excuses they have to give when approached to design Obama totes and tees…

Stiletto liberals rejoice:

Barack Obama is getting his own Fashion Line.

Starting next month, about a dozen items - mostly totes and tees - will be on sale at Obama.com and they’ll be different from those MoveOn sweats in one crucial way:

They’ve been sketched out by Diane Von Furstenberg, Derek Lam, and other CFDA members, including Tracy Reese, whose Obama scoop neck can be seen at left. The clothes will also have a launch party at Charles Nolan’s studio on September 9 - during New York Fashion Week.

Robin Givhan reveals the whole project in the Washington Post, noting “the risk, of course, is being perceived as highbrow or shallow. Obama’s opponents have derisively dismissed him as an elitist and a celebrity. And it was the fashion industry that spawned the celebri-monster known as Paris Hilton. Having Seventh Avenue on his roster of supporters would not seem conducive to a Dockers-man image.”

We’re not completely sure that fashion did spawn Paris Hilton - unless Page Six is considered a direct arm of the style industry - but she’s got a point. She’s also got a guarantee from Tracy Reese that she will sport the Obama tee at some point this Fashion Week, and that’s a really big deal.

Note that this isn’t the only fashion initiative tied to Democrats this season - Anna Wintour famously hosted a Calvin Klein dinner for Michelle Obama last month, and the Senator’s wife was also the inspiration for the September cover of Harper’s Bazaar, which starred Tyra Banks.

Come August, NYLON Guys also gets into the mix - they’ve donated their entire back cover to Obama’s campaign, a first for a national fashion title.

Meanwhile, McCain has the devout support of Hills star and designer, Heidi Montag.