Whether due to Louise MacBain forever ruining magazines for him or his asking price suddenly out of reach for budget-conscious publishers, former Conde Nast editorial director James Truman is (temporarily?) abandoning plans to start his own media empire to team with fellow Conde alum Mitch Fox, who used to run the Golf Digest unit, to start a "roving event that will combine a green market and eco-technology with a Cirque du Soleil-like performance series." It requires the intricate theatrics of a Cirque du Soleil-like staging ground, after all, to choreograph an interpretive dance routine to explain what it's like taking orders from MacBain.

More, Keith Kelly, more! With Anna Wintour being fought over by more than just the media press, our last shining hope of a feisty, fashionable lady of the bubble rests in Louise MacBain — and if Kelly doesn't deliver the latest on our favorite Charles Street resident, who will?

With MacBain's LTB Media flailing – editorial director James Truman and and CFO James Conley quitting while the printing press was nearly still running – what's a girl to do but get her feet wet in this publishing biz? While Keith reports more staffers have left the building – like Modern Painters publisher Deborah Harris, who refused to take a pay cut – he also provides word that MacBain is indeed spending more time in the day-to-day operations of her masthead steed.

The French Canadian millionairess told Media Ink she is planning to spend a lot more time in the Big Apple in 2007. Up to now, she'd spent just 25 percent of her time in town - divided between several homes in the Hamptons and a townhouse in New York - and the rest traveling and in London.

"I'll probably be spending about three quarters of my time in New York," she told Ink, but the extra face time with the boss is not likely to sit too well with the staff of her LTB Media.

Which might pose a small problem if she plans on keeping her Canadian tax status. Something about residency requirements.

Hat tip to Keith Kelly for today's genius headline "Blouin In The Wind." The Post-It media scribe brings new this morning of more trouble at Canadian billionairess Louise MacBain's LTB Media. Not so long after editorial director James Truman grew tired of MacBain's middle-of-the-night phone calls, the vanity publisher's CFO, James Conley, has also stepped down. He was the third CFO in a single year, having started the gig in May. The staple rationale: MacBain seems more interested in her Louise T. Blouin Foundation charity (regularly plugged in each mag's FOB) than in ensuring her trio of haute culture rags has the dolla dolla bills to soldier on. It's not everyday you get to fault someone for being over-interested in philanthropy. Though, to be sure, let's not leave Arthur Carter off this list.

BLOUIN IN THE WIND [Keith Kelly, NYP]

The fallout from James Truman's abrupt depature from Louise MacBain's Culture + Travel magazine continues today. The Post's Keith Kelly gives the matter some ink (though little new information), while New York's Carl Swanson – who's been on Truman's ass like the hipsters are to Marie Antoinette Halloween costumes – filed a quick Q&A with the man intent on starting his own media company. For starters, Truman is staying in New York.

Was MacBain — an inexperienced publisher — as unrealistic about how much good writers and good photographers cost as I hear she was?
One great advantage of art magazines is that you have at your disposal the finest visual images in the world at no cost. I introduced more commissioned photography to the magazines and found the money to hire good writers.

But didn't you get sick of people (like, say — of all people — Radar) saying you didn't have enough money or were paying too little?
Well, we were paying a lot more than Radar!

And — scene!

James Truman Leaves MacBain, Hasn't Heard From Si, and Will Stay in New York [Daily Intelligencer]
Earlier: James Truman, Carrying Own Hatchet, Flees Culture + Travel

After the much-feted debut of high-concept, niche appeal Culture + Travel, editorial director James Truman has quit his post. After one issue. And a damn good party. Having fleed from Conde Nast to Canadian billionairess Louise Macbain's LTB Media to launch his pet art rag project, Truman has already bored himself with all those Pollocks and wine travel stories — and now he's taking off to start his own media company once he gets some Wall Street types to back his ambition, reports the Observer's Michael Calderone. Says Truman:

My interest was in moving on and setting up my own company. I was never going to do it long-term.

Now comes the matter of choosing the correct verb to refer to an editor who only lasts one issue: "to Truman," or "to Pemberton?"

Editorial Director James Truman Resigns, Again; Will Found Media Company [Michael Calderone, NYO]

We don't have a fucking clue what Brian Grazer is doing in New York, either.

With the launch of Culture + Travel from former Conde Nasty James Truman comes the requisite launch party for Culture + Travel — hosted by the Canadian billionaire publisher Louise T. Blouin MacBain (the LTB in LTB Holding), the dollar signs behind such indie titles like Art + Auction and, until just recently, Spoon. Last night's soiree at MacBain's swanky Richard Meier penthouse pad was a collision of media, Hollywood, architecture, PR, and fashion ego: David Carr, Michael Wolff, Lloyd Grove, Calvin Klein, Anthony Hayden-Guest, Brian Grazer, Deborah Schoeneman, Ben Widdicombe, Keith Kelly, Catherine Malandrino .. oh, and Nadine Johnson, the publicess who put all this together. To be sure, however, at least half the guests showed up just to scope the view. (Including, we think, our photog Matthew Krautheim.)

CONTINUED »

• We have absolutely no idea how Anna Wintour's daughter's best friend got an internship at Vogue. Nor do we have any clue how the girl is still friend with Bee Schaffer after working for her mama. [Telegraph]

• Is Robin Williams really an alcoholic? Or does he just think he has a shot at a role in Mel Gibson and Patrick Swayze's next movie? [People]

• And why on Earth would the President of Iran want to make fun of our President? On national TV? It's not like Bush ever said anything bad about that country. We just really don't understand why everyone hates us! [CBS]

• It's true. James Truman steals his employees away from the competition the old fashion way: through his powers of seduction. [NYO]

• Yay, yay, it's national underwear day. Stock up on some skivvies … you never know who might be picturing you in you underthings. [Gothamist]

• New York Press discovers the true factor behind obesity: weed delivery and television. [FBNY]

• Keith Kelly uses his editorial clout to score free drinks for his fellow Irish medialites when they hit Elaine’s on St. Patty's. [Fishbowl NY]

• Arianna Huffington is so dunzo with George Clooney. We're still not convinced he gets what a blog is, though. [NYT, HuffPo]

• The Economist breaks from its Middle America campaign to rain down on Baltimore. [NYT]

• Those crazy "so called bloggers" and their inexplicible desire to so called write. [Newsday]

• It shouldn't take this long to come to the realization that the Internet is fast. [USA]

• As though anyone was holding their breath, New York announces the return of James Truman. [NYM]

That high-brow arts title from Conde Nast might just yet appear, despite the door supposedly closing on former editorial director James Truman's vision.

Truman, who took off for Spain after leaving the company in January, took a lunch with chairman Si Newhouse last month, which confirms our fears: Nobody ever really "leaves" 4 Times Square. Si wants to know if James is interested in resuming development of the title.

Meanwhile, Conde Nast is putting all its efforts into getting its business title off the ground, so it might be a couple years before Truman's Sotheby's catalog appears on newsstands.