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Fans of hot guys everywhere gave Ashley Olsen a gentle nod of appreciation when she threw Justin Bartha back into the dating pool, but it looks like we might have to retract said nod with reports she's now reeled in Jason Sudeikis. The pair were spotted with their arms around each other at the Tower Heist premiere after-party, where they got "cozy" and "snuggled" in a back booth. Why do these industry parties always sound like tail-end of a collective teen date? Oh, Ash, you giveth and then you taketh away! [NYDN] More »
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• American Apparel's stock sank to a 52-week low yesterday after news that its quarterly loss had widened, and that it had received a de-listing warning from the New York Stock Exchange. What, neon onesies aren't great business? [TS]

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The fun didn't stop on the red carpet! And by "fun" I mean stars in grotesque outfits. At the Weinstein Co. and Warner Bros./InStyle GG parties, the sartorial awfulness didn't stop until the break of dawn. More »
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• And now, the cold, hard, retail reality sets in: Neiman Marcus and Net-A-Porter are dropping Ungaro for Spring. Barneys and Saks also aren't ordering. Lindsay Lohan and Mounir Moufarrige, what have you wrought! [Style.com]

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• Adam Lambert put an end to the speculation about his sexuality by going out to a nightclub last night with his boyfriend Drake LaBry. The two held hands and occasionally kissed.

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• Eric Ienco, Madonna's former house manager and cook, alleges that Madonna's kids are lucky if they get to spend a half an hour a day with her; "It's a puzzle she wants to adopt again."

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• Literary sensations Mary Kate and Ashley Olsen premiere their first book, Influence. '"Ashley and Mary-Kate take readers on a journey through their celebrated young lives, pausing to reflect on what has helped shape them into who they are today," the book's publisher said in a statement. "They interviewed 20 people and wrote brief essays about each other." Those interviewed include fashion designers Karl Lagerfeld, Diane Von Furstenburg, John Galliano and Christian Louboutin. "We interviewed the people who have inspired us, with the hope that they will inspire and teach others," Mary-Kate said. "We want to explain culturally how ideas evolve."' [People]
• The first "Cavalli Club" will open in Dubai this Fall. Says Roberto, '“living against monotony, with the enjoyment of music, of good food, of pleasant company” is the club’s philosophy. In his goal to offer “multiple culinary and sensorial experiences,” Cavalli plans an Italian restaurant flanked by a sushi bar and a wine bar on the top floor.' We can only assume this will be convenient to Lagerfeld's "Fashion Island." [WWD]
• A new investor allows Sadie Frost's company to live another day. Said a rep of the Jude Law ex and her design partner Jemima French, "Sadie and Jemima relish the opportunity to be fully hands-on again and being able to return to the creative and business helm of a fashion label. Both designers are currently working on their next collection" [More »
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  • Happy 21st birthday Mary Kate and Ashley! Yup, as of today, the Olsen twins are legally able to imbibe both Red Bull and vodka. Now go throw up an extra-special birthday dinner girls — you deserve it! [Olsen Twins 21st Birthday Countdown]
• Everyone — rulers out! A new study says that math skills can be determined by the ratio of the ring finger to index finger. We tried to calculate our own ratio, but... we're so bad at math we couldn't. [ScienceNow]
• Random public service announcement: Grapes and raisins cause kidney failure in dogs. And yes, we checked. [TheKnot.com]
• Sir Tim Berners-Lee, the inventor of the Internet, was given England's highest honor, the Order of Merit, by Queen Elizabeth today. Wait a second. Rewind. Didn't Al Gore invent the Internet??? [BBC]
• While touring Australia, the Dalai Lama met with Bindi Irwin, the 9-year old daughter of the late Steve "The Crocodile Hunter" Irwin. What, is an audience with The Pope next? [CNN]
• Don "Mr. Wizard" Herbert died last night at the age of 89. We learned more about science from him during our television-viewing days during the mid-80's than we ever did in school. [CNN]

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As you probably know by now, "The Oscars of Fashion", also known as the Council of Fashion Designers of America (CFDA) Awards, were held last night. What you may not know is that the CFDA ceremony is an extra-special event that the fashion industry's major players spend weeks and weeks obsessing over, only to arrive on awards night and find that no one wants to take their picture unless they happen to serendipitously find themselves next to an Olsen while walking the red carpet. Anyway, last night's awards featured wins and losses that inspired both shock and awe in our little fashion hearts. Our analysis of those in the winner's circle, after the jump. [Spoiler: Things might be over for Marc Jacobs!] More »
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• The Olsen twins are launching a new clothing line, not to be confused with their other two clothing lines. Called Elizabeth and James and named after the other two Olsen siblings, it's a joint venture with the parent company of Seven For All Mankind jeans with a fascinating theme: The "clash between masculinity and femininity." Is that like when you've been starving yourself so long you don't have to buy tampons anymore? [WWD, sub req'd]

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