Last week, Zac Posen cut the position of vice-president of communications. Rumors shortly followed of more layoffs at the company. Today, WWD announces Posen is launching a lower-priced line, an increasingly common business strategy for young designers in the recession. So far Doo-Ri Chung, Thakoon Panichgul, and Richard Chai, among others, have launched lower-priced lines. Posen's main collection retails for the not-so-recession-friendly prices of $900 to $12,000, with custom pieces going for upwards of $20,000. The new collection, called "Z Spoke," starts at $78 for a T-shirt, and will launch exclusively at Saks with an aim to expand to other stores.

Posen, whose office includes a circle of pink carpet "re-appropriated from his spring 2009 runway show," says the line is not "Zac-for-less."

Fall in New York is a tough season to dress for — it's too cool at night to sport just a blazer, but still too warm to lug around a winter coat. This wool-blend navy jacket is military-inspired, with decorative buttons dotting the front and ruffles that lend a feminine edge. A buckle in the back allows you to cinch the fit according to what you’re wearing, whether a silky tank or a chunky sweater. And the price isn't wallet-breaking, so, unlike your season-spanning peacoat or leather jacket, you can wear this out on chilly nights without worrying about it getting tossed around at the bar.

Hamptons Jacket, $86 at FredFlare.com.

If you've ever wondered why exactly the Council of Fashion Designers of America matters, you're not alone. Marc Jacobs has, too. He spoke recently at the WWD CEO Summit:

“There’s now the CFDA fund, which I know is set to help young people. I had a big issue with the CFDA back in my Perry Ellis days, because I really didn’t see what they were doing for the designers. I went to a meeting, and Ralph [Lauren] was there and Donna [Karan] was there, and everyone thought they should be the one to choose the best photographer of the year. I just felt this is not for me. I just didn’t want to be part of their reindeer games. And I didn’t feel part of this self-congratulatory American fashion industry thing. I didn’t mind if they wanted to do it; I just didn’t find it that interesting. But maybe in some way it gives people encouragement,” he said.

He wouldn't go to the annual CFDA Awards if he didn't have to.

Sharon Stone wore a lingerie-inspired sheer lace gown to the eighth annual Enduring Vision benefit for the Elton John AIDS Foundation last night in New York City. She topped the look with a black leather jacket and black hat.

Do you like everything that's going on here, or is it better suited to a song-and-dance routine?

Although Gemma Ward's agent recently said she was done with modeling, sparking speculation that her retirement had to do with her less model-esque weight of late, Gemma says she's not through with the biz. In fact, she intends to become a double slash:

"I have not 'quit modelling' and my fans back home can expect to see me back at work modelling and acting in the new year," she said in an email to The West Australian.

That's model-slash-actress-slash-student — an unbeatable slash combination for a 22-year-old. Her mom spoke to the paper as well.

Sophie Theallet proved yet again that dressing the First Lady is a fast track to fashion superstardom when she won the CFDA/Vogue Fashion Fund award last night. The prize includes $200,000 and a year of mentoring. Last year — before the Obamas took office — Alexander Wang took it home (though he has not dressed Michelle Obama, he has happily offered his denim-ripping services). Theallet beat out Alabama Chanin's Natalie Chanin, Esquivel Shoes' George Esquivel, Gary Graham, Waris's Waris Ahluwalia, Monique Pean, Ohne Titel's Flora Gill and Alexa Adams, Patrik Ervell, Spurr's Simon Spurr, and Wayne's Wayne Lee for the prize. Theallet is based in Brooklyn, which is perhaps a close third in terms of Vogue-approved chicness — after Queens, of course.

CFDA Fashion Fund Winner [Vogue UK]