This morning, Conde Nast Portfolio magazine hosted a swank Panel/Breakfast at the 21 Club. The topic: The Market’s Future: What’s Next for the Economy. Speakers: John Cassidy, Contributing Editor, Matt Cooper, Washington Editor, Jesse Eisinger, Senior Writer. Editor in Chief, Joanne Lipman moderated.

Attendees included: Mort Zuckerman, Peggy Siegal, Rick Lazio, Felicia Taylor, Richard Edelman, Harold Burstein, Bob Scully, Jonathan Dahl, Jonathan Wald . Noticeably absent Jon Fine, of Business Week (wink: my husband).

I twittered the event. For my transcript, click continue. Follow me on Twitter at www.twitter.com/laureltouby…

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— DIANE CLEHANE

Forget the lazy days of summer. Class is back in session as the cool kids returned to the cafeteria today in force. The scene at Michael’s was a tasty stew of moguls and media mavens with a side order of the random celebrity sighting — Kathleen Turner cooled her heels at the bar with her face buried in a newspaper until her pals arrived. And in true Michael’s media-centric style, a photographer from The New York Times was on hand to capture it all for Frank Bruni‘s review due out soon. We can’t wait, can you?

Here’s the rundown on today’s crowd:

1. Kathleen Turner, Felicia Taylor, Margo McNabb, Sommers Farkas, Terry Allen Kramer and a very late arriving Peggy Siegal who joined the festivities just in time to be included in the pics for the Times. David Patrick Columbia dashed in just before coffee to grab a few quick shots of the gals for New York Social Diary. You’re no one if you’re not getting your picture taken, darling …

2. Showtime’s head honcho Matt Blank with Holly B. Newman. Loved the leopard skirt!

3. Liz Smith with Jonathan Van Meter. The grand dame of gossip, looking sunny in yellow, told me she was being interviewed for New Yorkfor another anniversary issue.

4. Les Moonves sipping chardonnay with Leon Black

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— DIANE CLEHANE

Between the heinous weather that has us nursing what must be walking pneumonia, a deadly dull award season (Does anybody really care about the Oscars without the parties?) and some mind-numbingly bad television we’ve been forced to endure (What the hell happened to Nip/Tuck?), we were yearning for some excitement today at 55th & Fifth. Alas, there was nary a bold-face name in sight. Except for a delightfully random celebrity sighting — Patrick Stewart, looking quite collegiate in a grey crewneck sweater — we loved you in A Christmas Carol! — things were pretty much business as usual in the dining room. The staff, though, was abuzz that none other than Captain Picard had landed in the dining room.

Here’s the rundown on today’s crowd:

1. Showtime’s Stu Zakim hosting his “bi-monthly guy’s lunch.” In attendance: ABC’s Jeff Schneider, recruiter Arnie Huberman, SIRIUS’ Patrick Riley and Portfolio‘s Jeff Bercovici. I congratulated Jeff on tapping into the zeitgeist in yesterday’s Mixed Media column where he reported on the tipping point that seems to indicate some — but clearly not all — in the media seem to be having a (slight) attack of conscience when it comes to reporting 24/7 on the sad spectacle of Britney Spears’ alleged mental illness. Jeff emailed the editors of the celebrity weeklies to weigh in on the subject but only People‘s managing editor Larry Hackett responded. Larrys take: the whole thing has Day of The Locust feel to it, but in the unlikely event the media did back off, it’s “presumptuous” to assume the fallen pop star would finally start to get well. I agree. (Full disclosure: I am a People contributor). Interestingly, there’s also a piece in today’s USA Today that reports — duh! — “Britney’s collapse: Media not helping.” The collective sense among journos that cover celebrities and the business of celebrity that this story is going to end badly is palpable. The question is: how will those that have been the beneficiaries of the Britney media bonanza cover the final chapter of this tale? Us Weekly reported last month that AP has already written Spears’ obit. Remember when Princess Diana died and George Clooney held a press conference to blame the tabloid media for her death? Is there anyone besides Heidi Klum, who has said that Brit can come and live with her and Seal until she gets her life together, that can actually do anything to alter Spears’ collision course with tabloid infamy before its too late? George, are you busy?

2. Producer Jon Hart, who predicts a “low key” Oscars on Sunday, with two business-types we didn’t recognize …

3. Katherine Oliver celebrating her birthday with a table full of pals including Lisa Dallos and Chris Taylor.

4. Gerald Schoenfeld & Candia Fisher.

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It was a typically atypical lunch crowd today at Michael’s — Tom Brokaw here, Joan Rivers there, Cobb salads everywhere — making the Diet Cokes and Pellegrinos go down like fine wine. A quartet of Rubensteins — Howard, Richard, Steve and Atoosa &#151 dined at four separate tables, while the Michael of Michael’s, Michael McCarty, explained to us the finer points of Michael’s New York vs. Michael’s Santa Monica. “Fridays and Saturdays are big in L.A.,” he told us. “In New York, it’s Monday, Tuesday, Wednesday, Thursday.”

See, New York is so badass, we need the weekend to recover from the week. Suck it, Hollywood!

The table-by-table breakdown:

1: Tom Brokaw, looking very Tom Brokaw-like, with George Stevens.

2: David Patrick Columbia with Jen Goodkind and Jayne Chase of “‘The Fashionable Life,’ WGCH in Greenwich, 1490 on your AM dial.”

3: Mayor of Michael’s Joe Armstrong and Men’s Health‘s Dave Zinczenko, who were in an uncharacteristically serious-looking discussion, pausing often to meet and greet passersby.

4: Arthur Schlesinger, Jr.

5: Allen & Co. fortune heir Terry Kramer and her son-in-law.

6: Lunch at Michael’s regulars Peter Rogers (happy birthday!), Alex Hitz, Bill Rondina, Tom Fallon and Brooke Hayward Duchin.

7: Joan Rivers, long-time agent Billy Sammeth and always-affable VH1 Best Week Ever producer Fred Graver.

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