You know reality is really biting at Condé Nast these days when Graydon Carter is taking his bites in the cafeteria! [Or is it? A reader tells us it's actually happened before! Back when things were good!] Cry me a McKinsey river!

It seems that the economy hasn’t just killed ad sales at Condé, it’s killed the myth of Condé. They are no longer the envy of the magazine world. Of course who is these days? Maybe David Remnick?

The September Issue: it’s not just the title of the highly anticipated R.J Cutler documentary about Anna Wintour, its also what every magazine loving fashionista anxiously awaits, its hefty size a welcome antidote to the malnourished August issue. But judging from Elle’s September cover, which features Jennifer Aniston clad in black leather (last month anyone?), it’s beginning to look a lot like August.

Elle has recently been cited in the trades as a singular bright spot in an otherwise blighted sector – most recently getting attention for selling more ad pages than Conde Nast rival Vogue. So if rumors are true, why would Hachette want to sell off a profitable magazine that is on its way up?

You’d think that the unprecedented access director R.J. Cutler got to Anna Wintour in The September Issue would be the documentary‘s main draw. Sadly, it’s not. Instead the volatile state of the magazine industry has made The September Issue a period piece before it’s even been released.

Looks like the reality has finally caught up to Conde Nast. A tipster passed on this email, which was just sent out to all Conde Employees informing them that the company has been forced to rethink “the way we do business in many instances and incorporate efficiencies in every step of our process.” Short version: tighten your Gucci belts kids and put on your walking shoes, no more Town Cars in your future!

The Magazine Editors category on the Power Grid has engendered some good debate here at Mediaite’s global headquarters. Summing up: should a Magazine Editor be rewarded more for the public profile of the title they oversee, or more for how they promote their own name.

It may come as a surprise to learn that Jon Meacham is the number one Magazine Editor given that Newsweek is going through a rather dramatic repositioning and redesign – an exercise not typically taken by a healthy magazine. So why is he number one?

This month Sienna Miller returns to the cover of Vogue, despite her ‘toothy’-ness and ‘unruly hair’ (Anna Wintour’s words, not ours).