The Morgans Hotel Group has no plans to stand idly by as the economy crumbles and overpriced, miniature hotel rooms go unsold! The boutique hotel conglomerate launched a new ad campaign, the super-simple tagline for which is on your left. The company started up a new website, too, recessison.com, which, it turns out, is not a reflection on the grammatical abilities of Morgans' marketing staff, but because it stands for "Recess Is On"—or please, please book rooms at our dimly-lit, Philippe Starck-designed hotels and put it to your credit card, even if means you won't be able to pay your AmEx bill at the end of the month. After the jump, two of the videos Morgans uploaded to YouTube to get the silly marketing campaign off the ground.

• Lehman CEO Dick Fuld's announcement yesterday about the firm's new strategic direction hasn't changed much, say analysts, and questions about Lehman's ability to weather the storm continue to loom. [NYT, WSJ, FT, NYP]