The people at Conde Nast have always appeared to take extraordinary efforts to project the image that they were different than the rest of us - smarter, better looking, better dressed, everything. If you ever have a reason to ask someone involved with a Conde Nast publication to do anything out of the ordinary "But we are Conde Nast" is a rationale that is supposed to be completely understandable to the rest of us who aren't. So, how is it that the geniuses at Conde Nast didn't see this one coming? And what I would love to know is did they try to do anything differently to make up what appears to be a $1 Billion shortfall? Did they try to sell their ads differently? Did they try to package their products or prove to customers that their publications produce results? They even hired an expensive consulting firm to help them.

They are the smartest people around, they must have tried something other than just cutting people and closing titles, right? Well, maybe not. I have not heard of any recent innovation coming from any of the Conde Nast titles, with the possible exception of Wired, in anything they do. Nor do any of the news reports on their collapse reference any plan for resurrection. I guess it is not cool to worry about saving the company. 

Here is Newsweeks's story on Conde Nast's collapse: full story here.