Free Arts NYC hosted its 10th annual art and photography auction last night. Attendees at the Calvin Klein Collection-sponsored event, which was hosted by Kevin Bacon and Michelle Monaghan, included Calvin Klein's Francisco Costa and Italo Zucchelli, Amy Sacco, Glenda Bailey, Julia Restoin Roitfeld, Hilary Rhoda, Ed Westwick, Lindsay Price, Karolina Kurkova, Yvonne Force Villareal, Zani Gugelmann, Kimberly Guilfoyle and Eric Villency, Thom Browne, Molly Sims, Andrew Saffir, Beth Ostrosky, Erin Fetherston, Mary Alice Stephenson, David Granger, Helen Lee Schifter, Glenn O'Brien, Kate Schelter, Richard Chai, Jeremy Kost, Mickey Boardman, Kathryn Neale, Ross Bleckner, Simon de Pury, and Andrew Fry. [PMc, Wireimage, FWD, SF]

Meghan McCain and Luke Russert act like bratty kids, Jimmy Fallon gets his college diploma, Lily Allen gets herself banned from the BBC for "using rude words," and Ryan O'Neal allegedly phone-sexes while Farrah dies.

Too bad the Correspondent's Dinner will probably dominate any comedy talking points today, because last night's cameo-littered Saturday Night Live was the funniest it's been in a long, long time.

Michelle Obama was the main attraction at Time magazine's sixth annual 100 "most influential" ceremony at Lincoln Center last night. She was joined by a predictably massive group of A-listers, including Oprah, Harvey Weinstein, Mort Zuckerman, Steve Schwarzman, Jeff Bewkes, Diane Sawyer, Barbara Walters, Whoopi Goldberg, Joy Behar, Carine Roitfeld, Gayle King, Stella McCartney, Claire Danes and Hugh Dancy, Kate Hudson, Liv Tyler, Jay Leno, Lorne Michaels, Jimmy Fallon and Nancy Juvonen, Charlie Rose, David Lauren and Lauren Bush, Ann Coulter, Suze Orman, Arianna Huffington, Kate Betts, Andy Serwer, Paul Krugman, Vivi Nevo and Ziyi Zhang, Andrea Mitchell, Chris Matthews ...

Hooray! Michelle Obama's coming to New York! Hooray! She is going to attend the Time 100 Party, which is kind of lame, but still.

• Tense negotiations over proposed budget cuts continue between the New York Times Co. and unions that represent workers at the Boston Globe; in the meantime, the Times has postponed plans to shut down the paper. [NYT, WSJ]
• Another way the Times is planning to rake in some much needed cash: It may raise newsstand prices as early as this week. [FT]
• NBC announced several shows that it plans to add to primetime. One show noticeably missing from the lineup: Law and Order. [Variety, NYT]
• Ex-Portfolio publisher William Li has landed at Condé Nast Traveler. [NYO]
• A positive aspect to the cuts at Conde Nast? Media buyers "say that publishers and salespeople are becoming easier to work with. [Crain's]
• Wolverine grossed a whopping $87 million at the box office. [Variety]

Jimmy Fallon has a lot going for him: His house band The Roots are Grammy nominated. His blog-crew is Webby nominated. And he, well, he reads Gawker to get his spirits up. True story!

David Letterman attending a Rangers game at Madison Square Garden and seated not far from where Jimmy Fallon was cheering on the team with his wife, Nancy Juvonen ... John Leguizamo and wife Justine walking their poodle ... Hilary Duff running errands near Union Square ... Liev Schreiber and Naomi Watts carrying coffee downtown ... Brad Pitt visiting Angelina Jolie on the set of Salt ... Rachel McAdams walking in the West Village ... America Ferrera, Michael Urie, and Becki Newton on the set of Ugly Betty ... John Goodman wandering around by himself ... and Arpad Busson leaving Uma Thurman's townhouse in the Village with her son Levon.

Graydon Carter, Robert De Niro, and Ron Perelman hosted a Vanity Fair-sponsored dinner at the State Supreme Court House last night to celebrate the opening of the Tribeca Film Festival. They were joined by Carter and De Niro's wives (Anna Scott Carter and Grace Hightower) and Tribeca Film Fest co-founders Craig Hatkoff and Jane Rosenthal, as well as a long list of guests, including Bono and Ali Hewson, Kanye West, Diane von Furstenberg, Jared Kushner and Ivanka Trump, Tory Burch and Lyor Cohen, André Leon Talley, Fran Lebowitz, Spike Lee ... (continued)

Why do you not publicly address last weekend's rumored pizza-related fistfight, Jimmy Fallon? What are you hiding? The smirking TV host has conveniently skirted the issue so far. But we have sources everywhere!

• It's not just high-end restaurants suffering due to the recession. Take a moment to think a good thought for Applebee's in Times Square. [NYT]
• NYMag's Adam Platt visits La Fonda del Sol, giving it one star for Josh DeChellis's "inherent talent" and another for its tapas. [NYM]
• Graydon Carter's Monkey Bar now has a reservations line. [NYT]
• The secret to Marquee's longevity, at least according to a Harvard Business School case study on the subject. [NYP]
• Jimmy Fallon took to Twitter after getting kicked out of Posto. [Slice via GS]
• Good World has closed its doors. [BoweryBoogie]
• A sushi spot in Midtown has a new roll: the Natalie Portman. [ML]
• Kate Moss may have a cookbook in the works. [Mirror]

America's favorite bad comedian Jimmy Fallon was kicked out of a pizza place yesterday! And not only that: one of our tipsters tells us the scene degenerated into a fistfight. Protect Jimmy!

Topshop hosted a private dinner at Balthazar last night to celebrate the opening of its new store in Soho. Attendees included Karolina Kurkova and Georgina Chapman (left), Harvey Weinstein, Jay-Z, Jimmy Fallon and Nancy Juvonen, Zach Braff, Amy Sacco, Mark Ronson, Ann Dexter-Jones, Annabelle Dexter-Jones, Andrew Saffir, Theodora Richards, Steve Stoute, Cathy Horyn, Stefano Tonchi, Sally Singer, Amy Astley, Eva Amurri, Greg K., Leigh Lezark, Jessica Joffe, Michelle Trachtenberg, Taylor Momsen, Le Call, Jonathan Saunders, Sue Stemp, Steven Kolb, Christopher Kane, Brent Bolthouse, Emily Mortimer, Emma Roberts, Cecilia Dean, Meredith Melling Burke, Nikolai Fraiture, Santigold, Steve Aoki, Benny Shabtai, Michelle Monaghan, and Topshop's very own Sir Philip Green, along with his wife Tina and daughter Chloe. [PMc, Wireimage, Getty, Paper]

[Jimmy Fallon interviews Will Forte for a segment of his not-so-funny show; image via WENN]

On Tuesday's edition of Jimmy Fallon's late-night laff riot, he used a 'study' about Prague's 'Franz Kafka International Airport' to set up a Hudson River plane crash joke. Trouble is, The Onion made up that 'study.'

• Jon Stewart's showdown with Jim Cramer is getting mixed reviews, mainly because both deviated from their typical personas: the normally brash Cramer was a wimp and Stewart wasn't funny. It "felt like a Senate subcommittee hearing," writes Alessandra Stanley. [NYT, Salon, Atlantic, ABC]
• TMZ and Extra have extended their coverage to the financial services industry! Isn't it ironic that TMZ has exposed more corporate misbehavior over the past few months than CNBC has? Because it sort of has. [NYT]
• Google sales chief Tim Armstrong is the new chairman and CEO of AOL. [WSJ]
• Jim Kelly is stepping down as managing editor of Time Inc. [NYP]
• Fox has dumped Peter Liguori in favor of Fox Searchlight's Peter Rice. [THR]
• More changes are ahead at the Peter Brant-owned Interview. [WWD]
• Mel Karmazin says Sirius's poor performance last quarter was due to "doom and gloom" rumors suggesting the company would go bankrupt. [WSJ]
• Jimmy Fallon finished his first week with solid ratings, beating out the numbers that Conan O'Brien typically generated. Depressing, huh? [Variety]

Did you hear? Digg founder Kevin Rose was on Late Night with Jimmy Fallon Wednesday. As was Rose's forgettable Diggnation cohost — what's his name? Ah, yes — Alex Albrecht, who we hear wants out.

Nadya Suleman might consider her decision to have octuplets "irrational," but she's still totally going to sell the birth video. Maybe Ashley Dupre can teach her how to meditate amid 14 screaming kids.

Blue? Just read Twitter, and you'll feel better. Jimmy Fallon's producer cried from fatigue. So did a Gizmodo blogger. An ABC news guy's biggest accomplishment? Going to the DMV. The sad life of Twitteronians:

Jimmy Fallon was mercifully blessed to have former Saturday Night Live/Weekend Update co-star Tina Fey on his second show.