This summer, the New York Observer lost one of their star reporters to Conde Nast when the greatest magazine launch ever, Conde Nast Portfolio, grabbed up Gabriel Sherman for their staff.

Thanks to Nat Ives, we have now have the whole file full of new CN Portfolio staffers. Joining Gabe are a gaggle of other A-List reporters, including the New York Times' Kurt Eichenwald, Time's Matt Cooper, and of course, EIC Joanne Lipman. (Gotta' keep that Google search up.)

But today we, along with everyone else, learn that Gabe is not the only Observer gone the way of the glossy. Sheelah Kolhatkar, NYO's culture writer, is also leaving the weekly paper for a staff writer position at CN Portfolio.

Looks like quite a team, but everyone still better hit the ground running. There's only seven months left until the first issue comes out.

You'd think after writing for dailies and weeklies, seven months would be a solid amount of time to get the first few issues rolling — and to hire Katherine Seelye, Rebecca Dana, and Adam Fisher.

A Portfolio of 'Portfolio' Hires [Nat Ives, Ad Age]