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I hate to follow up yesterday’s post on job losses with another Debbie Downer topic, but last night at my company’s Q4 meeting we got the official news I’ve been dreading. Time to pack away my party dress I bought in August and forget my plans of sipping on company bought champagne: our holiday party has been cancelled.

I suppose I should be focusing on our CEO’s more optimistic announcements that we won't be having any lay-offs or pay cuts, but I’m giving myself one day to pout. I love Christmas and all the cheesy, over commercialized, over the top festivities that go along with it. So what better way to celebrate than to go all out on your office’s dime?

At least the news didn’t come as too much of a surprise, given the trend of a no frills holiday season for most offices and many families. Many NYC bashes have taken big hits, and I’m sure the cancellations in Boston will unfortunately soon follow.

Woman’s Wear Daily reported that Marc Jacob’s cancelled his annual masquerade holiday party, which had been scheduled for December 10th at the famed Rainbow Room in NYC with a "Rock and Roll Circus" theme. Marc Jacob’s holiday soiree is known for being an over the top event, W Magazine described the glamour of last year’s event:
“Masked revelers at Marc Jacob's annual holiday bash at Gotham Hall took the Venice Carnival theme to heart, partying as if the city of canals would be underwater by morning. Gondoliers hit up the champagne fountain, French poodles flirted with one another and women strapped on corsets so tight they could barely speak”.

Bank of America, American Express, Morgan Stanley and Goldman Sachs are all cancelling or cutting down on the festivities too. The Estee Lauder annual Christmas party and the famed Conde Nast (publishers of The New Yorker, Vogue, Glamour and Vanity Fair) lunch at the Four Seasons are also not being scheduled. Viacom, whose parties are normally hosted by divisions such as MTV and Paramount Pictures, is opting for a more than fair trade. They’ll be getting two extra paid days off in lieu of the usual holiday party.

For those of us that have fallen into the hands of Scrooge, we are not alone. Challenger, Gray & Christmas, a global outplacement firm, found that 77 percent of companies are planning holiday office parties this year, down from 90 percent in 2007. The firm also found that one in five companies is scaling down its usual year end party.

In the spirit of the holiday season and giving, I suppose it wouldn’t be appropriate to fulfill my dreams of ice sculptures and gourmet hors d'oeuvres at Top of the Hub. I’ll make due with a more modest celebration and be happy that my office isn’t cutting any of its charitable giving. But I’m not returning my party dress yet, just in case ;)

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Trashy mags are a guilty pleasure for me, an indulgence best enjoyed in small doses. I refuse to pay for them, but I'll usually have gone through the entire stack at the gym by the end of the week.

One of my favorite sections has always been the "worst-dressed". I think of the photos as a little pick me up. If you can spend $6,000 on a Zac Posen dress and still be slammed by US Weekly, I feel o.k. for sometimes trying to get by in my college sweatshirt and jeans. At least I don't look like a disco ball like Jessica Simpson (see above).

The originial chief of the fashion police, Richard Blackwell, died today at 86. Mr. Blackwell was the first to compile a "worst-dressed list" nearly 50 years ago, inspiring the Perez's of our generation to thrive off of celebrity flaws.

Some of my favorite divas have benefited from Blackwell's buzz in their "any press is good press" wealth. According to Mr. Blackwell, Lindsay Lohan "went from adorable to deplorable:, Britney Spears wore "a bra-topped collection of Madonna rejects are pure fashion overkill", and Victoria Beckham topped his list as the #1 worst dressed celeb of 2008.

Even celebs can't be fashionistas all the time. Thanks for pointing out the flaws, Mr. Blackwell. I feel better about my outfit today already.

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I apologize that my mini getaway to NYC coincided with a bit of a blogging hiatus over the long weekend. As much as I love my weekend trips to NYC, having a Friday vaca day plus a Monday holiday had me thinking bigger and better things in travel (bigger meals in Italy and better beaches in Greece anyone?)

Aspiring jet-setters such as myself will love the hidden gem Girlfriend Getaways, a magazine where you can find steals catered to just you and your girlfriends' travels (this is not your typical National Geographic fashionistas).