Red carpet crunch
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Red carpet crunch


The glitz and glamour associated with the Oscars was expected to take a hit this year. As the economic climate continues to deteriorate many thought Hollywood would want to show it was in touch with the real people who are having a difficult year – something their similarly wealthy counterparts on Wall Street have been so bad at doing.

And Hollywood did ... in its own way.

One rising Hollywood starlet was reported to say that now she only wears vintage... that is, she only buys vintage, she doesn’t use something already in the closet.

Next on the list was the food and drink. There were fears that the foie gras, lobster, Moët and mini desert canapés would be toned down after organizers of the Vanity Fair post awards ceremony party had decided to move to a smaller venue and shrink the guestlist. But, at the Governor’s Ball, amidst flowing champagne and abundant fish treats, the guests were treated to three-inch high chocolates covered in powdered 24 carat gold.

However, the real pinch, and show of understanding, came when designer Stuart Weitzman decided to not loan out his signature accessories. For the first time since 2001, Weitzman withheld his $1 million diamond encrusted shoes and did not loan them to one of the Oscar-nominated actresses.

"We are deep in a downturn, and though people want celebrities to lift their moods, [celebrities] who go over the top will just look out of touch," said a Hollywood PR lady. It seems the real world isn’t knocking on the Hollywood door just yet.

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