Imagine you are an editor at Forbes, spending the past 20 plus years with the mag, only to get some lame title like "editorial director of radio and television." And imagine Graydon Carter comes along with an offer to join his new establishment, and take over the media one newsstand at a time. Are you really going to turn it down because some new money magazine might want you more?

No.

So who can blame Peter Newcomb, the Forbes "veteran" who will be joining VF as a senior articles editor?

Carter invented Vanity Fair's New Establishment list 12 years ago when many of the tech, info and entertainment figures on the list were in fact startling new faces of power and influence.

Now the New Establishment is in many ways the establishment.

"I want to bring it up to date, expand it and change," said Carter. Next year, the list will double in size to 100 names.

Seriously, did Joanne Lipman or Steve Forbes even have a New Establishment list? We thought not.

GIVING THE BUSINESS [Keith Kelly, New York Post]