Last week we broke the news that, for the first time, ELLE bagged more ad pages than Vogue. When asked about how the magazine's advertising is doing, as they begin to close the big September issue, Vogue's publisher Tom Florio tried to diffuse the situation but actually revealed how bad the situation actually is. "We'll have over 400 pages of advertising," he told the NY Post.

As Jezebel said, 400 pages is a considerable drop from the 727 ad pages they had for the 2007 September issue, and the 607 pages last year.

People are quickly beginning to question whether this is a result of the economy, or whether it shows that Anna Wintour is losing her touch.

What do you think?