And right now there is a bit of panic afoot in showbiz, that with a mere 138 days until showtime, the Academy of Motion Pictures Arts and Sciences still hasn't decided on a helmer for the trophy trot. Nikki Finke reported last week, that last year's host and producer, Hugh Jackman and Bill Condon, are planning not to return to the Kodak stage. The pair's up-market, olde-timey glamour version of the show, gave Oscar its first ratings uptick in seemingly forever; a dramatic break in its long slide into irrelevance. ("What an honor for the Aussie actor" grandma Nikki writes of the of the Academy's desire to bring Jackman back to the show.)

UPDATE: Since the writing of this item, the producers have been named...and they are...Hairspray director Adam Shankman and former Fox CEO Bill Mechanic.)

Every year, Hollywood debates the question of how to update an event that is inherently the stodgiest thing thing on Earth. For starters, the thing that Oscar was conceived to honor — big glitzy prestige films — don't exist anymore, so the show will from now until forever be torn between giving their statues to little independent films that no one saw (and hence, that no one wants to see an awards show celebrating) or trying to find ways to squeeze nods to Dark Knight into a show that will never actually honor such popular films.

And for that matter, what with the media attention span being half a second long these days, if you are talking about movies that came out last year, you might as well be giving a lesson in like, the Cold War or Vietnam or something.

Not to mention — three hours of people in tuxedoes getting trophies and making speeches?!? In the epoch of cat videos!? Is this some kinda of Twilight Zone episode? Is America being punk'd by Oscar?

So what the heck do you do with a still huge but dwindling monstrosity like Oscar? Basically you can embrace the future or deny it, and either route has its merits. Here's our suggestions for the roads Oscar could take:

EMBRACE THE KIWANIS WITHIN
Oscar is never, ever going to win over these kids today, so go with your strength. Lead with the stodgy; you'll play well to your base and once every decade and a half, catch a retro wave. These days the Hollywood establishment is the aging Baby Boom generation, who are bound to actually become cool one of these days.
Host: Billy Crystal
Producer: Jeffrey Katzenberg
Ideal Best Picture Winner: Braveheart
Opening Number: A Rockettes lead a musical tribute to the films of screenwriter Ron Bass, high-stepping to the greatest moments from Rain Man, Snow Falling on Cedars and Dangerous Minds.
Clips Reel: A complete recap of The Today Show reporting the weekend grosses every Monday morning of the past year.
Log Line: This IS your grandfather's Oscars.

DRINK THE GLOBES UNDER THE TABLE
The reason why the Golden Globes have held their own against the declining Oscars is liquor. The dinner setting of the Globes show has traditionally meant well-lubricated winners making some of the more free-wheeling, demented speeches of awards season. Well, two can play at that game. Mandatory tequilla shots and forced picks from the mystery wheel of amphetamines for all attendees.
Host: Jack Nicholson
Producer: Ben Silverman
Ideal Best Picture Winner: Couples Retreat
Opening Number: Stars careen to their seats on a giant Slip 'n Slide placed down the aisle.
Clips Reel: The best moments of buddy comedies, guys who love to laugh with each other.
Log Line: Come and Get It!

POST-MODERN OSCAR
Pander completely to Hoodie Nation with an all self-referential celebration of quirk.
Host: Michael Cera
Producer: Spike Jonze
Ideal Best Picture Winner: (500) Days of Summer
Opening Number: Michael Cera sits on the floor of the Kodak stage listening to the mix tape he has made for an impossibly cool girl featuring acoustic remixes of John Hughes soundtrack songs. As we watch, the audience travels inside a giant movie screen and from the perspective of the Oscar nominated films, we watch Cera go to the movies with the impossibly cool girl, but never get to first base.
Clips Reel: Great Moments in Mentioning Bands During Movies.
Log Line: Oscars? What?

LOGANS RUN
The tweens have taken over entertainment; how long does Oscar think it can hold out anyway? Show Oscar's commitment to staying relevant by terminating the careers of any actor over 35 on live TV.
Host: Vanessa Hudgins
Producer: The Kardashians
Ideal Best Picture Winner: New Moon
Opening Number: 50's style sockhop dance number as George Clooney, Angelina Jolie and all the old people in the audience are loaded onto the original Sputnik rocket and blasted into outer space.
Clips Reel: The progression of Taylor Lautner's abs, from flaccid to six pack.
Log Line: This is on, bitch.

GANGSTA OSCAH
When you get down to it, the Academy is the original original gangsta.
Host: 50 Cent
Producer: P Diddy
Ideal Best Picture Winner: Final Destination 3D
Opening Number: The Kodak Theater is transformed with gold plated chandeliers and stripper pole while a car chase screeches through the lobby, ending in a cataclysmic explosion on stage.
Clips Reel: The history of on-screen bling.
Log Line: Don't Forget Who Brung You.

THE REALITY ACADEMY
Turn the show into a real time competition with bug eating contests, relay races and back stage confessionals.
Host: Ryan Seacrest
Producer: Nigel Lythgoe
Ideal Best Picture Winner: Step Up 2: The Streets
Opening Number: Nominees forced to perform a Polish mazurka, with one catch; one mis-step and the plummet into a tub of a million centipedes — and lose their shot at taking home Oscar.
Clips Reel: Night vision cameras placed in the hotel rooms of the stars while on set reveal secret celebrity hook ups — and a few drunken nights with a key grip or two.
Log Line: Oscar Wild!

THE TMZ OSCARS
Why fight it anymore? Throw down the barricades; let the paparazzi hordes loot and sack the kingdom, enjoy the rush of attention that the train wreck will bring. And whomever is still alive after showbiz has been reduced to smoldering ruins — let them figure out what to do next.
Host: Perez Hilton
Producer: Harvey Levin
Ideal Best Picture Winner: One Night in Paris
Opening Number: Celebrities are vivisected before the audience's eyes, the last remnants of their souls are ripped out and and then eaten, buffet style by the nation as a whole.
Clips Reel: A million Tweets are simultaneously projected directly into viewers' frontal lobes.
Log Line: We're Here.

Celebrity: David Hasselhoff and Gary Coleman
Car: K.I.T.T.
Why So Embarrassing: It's the creepy thumbs up that makes this picture awesome to everyone not in it.
Suggested By: F1Morgan, Scandanavian Flick

Celebrity: 50 Cent
Car: Pontiac G8 GXP
Why So Embarrassing: Though we love the car, it doesn't particularly do it any good to get tarted up by 50 Cent on what seems to be the down-slope of his career. We bet Kanye could have sold more G8s.
Suggested By: BuickBoy92

Celebrity: Tim Allen, Martin Lawrence, John Travolta, William H. Macy
Car: Harley Davidson Bikes
Why So Embarrassing: The four of them look like a gay biker gang, but not in the good way. We do give them props for their realistic portrayal of the typical lame Harley owner in this shot from the film Wild Hogs.
Suggested By: Golferal

Celebrity: Michael Johnson
Car: C4 Corvette
Why So Embarrassing: Oh so 1990s. You may be fast, but you'll never outrun this Glamour Shot.
Photo Credit: Mike Powell /Allsport

Celebrity: Mila Kunis
Car: Lexus SC430
Why So Embarrassing: We're not big fans of the Lexus SC430, but it's not particularly embarrassing. Parking it in a handicapped spot to grab a coffee is.

Celebrity: Michael Phelps
Car: Mazda6/Atenza
Why So Embarrassing: Immediately following his pot bust/gold medal marathon Phelps was tasked with pushing the Mazda brand in China. We'd probably start using drugs as well.

Celebrity: Andre Agassi
Car: Vector W8
Why So Embarrassing: Posing near a Vector W8 is only cool in a semi-ironic sort of way. In this case, Agassi is trying to show off all he has: big hair, awkward car, soon-to-be-ex girlfriend.

Photo Credit: John Russell/Getty Images

Celebrity: Danica Patrick
Car: Chevrolet Bel Air
Why So Embarrassing: Danica Patrick is talented, but she also understands the connection between her sex appeal and her ability to get sponsors. Unfortunately, this photo is just awkward. It's supposed to be enticing and seductive but the strange outfit and uncomfortable look makes us wish we'd never seen this photo.
Suggested By: PowerMatic

Photo Credit: FHM/George Holz/JEGPhoto

Celebrity: Adam West
Car: Chrysler 300C
Why So Embarrassing: Adam West, Batman, drives an old man car. Whatever, he's hilarious. He gets away with it. What he doesn't get away with is the "NBR1BAT" license plate. Holy Vanity Plate Batman!
Suggested By: 57sweptside

Celebrity: Conan O'Brien
Car: Ford Taurus SHO
Why So Embarrassing: Yes, Conan O'Brien is trying to look ridiculous. Yes, we love the Ford Taurus SHO. This is embarrassing for Conan because his attempts at appearing silly fail. You look awesome Conan.
Suggested By: Nerdwa

Celebrity: Sting
Car: Toyota Prius
Why So Embarrassing: Really, the guy who wrote Outlandos d'Amour is suddenly out cruising town in a Prius. We thought tantric sex was about extending the pleasure. Hybrids cut it way short, Gordy.
Suggested By: JamesMarino

Celebrity: Michael Schumacher
Car: Fiat Work Van
Why So Embarrassing: Schumacher looks the part too well. Also, "the quick gardner" sounds like a bad German translation of a man who fires quickly in bed.
Suggested By: Mr_Sives_Remotoc.

This kid is the face of hip hop and we salute him for his beef-starting. Ante up. [via Adrants]

When pressed for details, [Dix Hills Fire Department Chief Larry] Feld said, "I would say there is a strong possibility that it is suspicious because of the rapid movement of the fire, the volume of the fire that we had upon arrival, and the intensity. When I arrived — and I got there early — the whole first floor and second floor was engulfed, and the home was totally gutted. [...]

A statement released Friday by 50's rep reads: "Informed this morning while filming a new motion picture on location in Louisiana, [50 Cent] expressed deep concern over this fire at his property. He is extremely thankful that everyone including his son, Marquise, escaped the burning house safely. He is confident that authorities will be conducting a thorough investigation of the incident and is eager to review their findings."

Addressing reporters outside the remains of her home, Tompkins said that she heard an intruder in the house this morning, and that 50 is "obsessed" with her and has threatened her life. We think it was a wise, if sometimes questionably motivated, lyricist who once said, "If the roof is on fire, let the muthafucka burn. If you talking about money, homie, I ain't concerned." Never before has the poetry of the street resonated with such dire consequence.

• 50 Cent's Long Island Home Gutted By 'Suspicious' Fire [MTV]
• Shaniqua— Fiddy Tried To Kill Me! [TMZ]

• Kanye Leads 50 Cent in CD Sales Face-Off [AP]

ANYONE who wondered what led BRITNEY SPEARS to go off the rails culminating in shaving her own head and flashing her knickerless undercarriage can now finally have the answer.

It was all KEVIN FEDERLINE'S fault, according to rapper 50 Cent.

He says, "I think she brought too many people in. Kevin, whatever his name is, who is he?

"She made him a star.

"She should have left his ass in the closet, there he would have stayed and everything would have been exactly the way it needed to be."

As we take a moment to savor the word-pairing "knickerless undercarriage"—and wonder to ourselves if there is any exposed female body part that doesn't sound better when described by the British tabloid press—we're left somewhat disillusioned, as if the sacred code of honor among gangstas-in-arms has somehow been violated. There is, of course, the possibility that an undercurrent of jealousy runs through 50's uncharitable commentary: With the impending and much-anticipated release of Federline's sophomore CD, Playing with Fire II: I'm Losing Control Again, Bitches, poised to unseat the "Candy Shop" rapper from his hip hop throne, he may have been left with no other option but to belittle the competition in the press with petty gay innuendo and swipes about golddigging.

• 'Britney's issues K-Fed's fault' [thesun.co.uk]

We got them from a 13 year old party girl who got front row leers from Don Henley and who has about fifty more photos she wants to sell so she can get a boob job when she grows up.

The result is the photographic evidence you see above, though 50 wasn't the only one to lose his soul to the shutter. It would appear New York is winning the classic East Coast/West Coast Bat Mitvah rivalry. We throw this out as a challenge to all those local 12-year old maidels-in-waiting: we can outdo them! Get your producer fathers to throw some of their backend dividends towards some daughter-appreciation!

• Exclusive Photos! Mitzvahpalooza! [Tabloid Baby]
• Not-so-Petty cash to rock bat mitzvah [NY Daily News]