Marc Malkin

Gregg DeGuire/Steve Granitz/Jordan Strauss/WireImage.com

The traditional Golden Globes ceremony may not be happening Sunday, but don't tell that to In Style magazine. Indeed, it almost seemed like business as usual yesterday, as the magazine and the Diamond Information Center joined forces to host the seventh annual pre-Globes fashion show at the Beverly Hills Hotel. A gaggle of Hollywood celebs, including Sharon Stone, Debra Messing, Maria Bello, Kristen Bell, Patricia Arquette, Angie Harmon and Joely Fisher, turned out to gawk at what could have been their red carpet dresses and gazillion-dollar diamond accessories.

In Style fashion director Hal Rubenstein cooed over a speaker system about the pricey sparklers from Harry Winston, Neil Lane, Tiffany, Chanel, Fred Leighton and H. Stern and gowns from Ralph Lauren, Roberto Cavalli and Marchesa.

Despite the effort (fashion, schmashion), much of the afternoon’s chatter became a big game of strike-related telephone as stories from a friend, or a friend of a friend or—well, you get the idea—got passed among the 125 or so attendees.

“I just heard 1,000 people got laid off from Warners,” one lunchgoer said.

Another added, “And a bunch more agents from ICM were, too.”

One jewelry publicity executive said her agent friend told her his shop made upward of $10 million a month prestrike. Now, revenue has dipped to just $2 million. “He said they need at least $4 million just to run the place,” the executive said.

Still, fashionistas were trying to make the best of it. “I usually don’t loan anything out for anything but the Globes [this time of year],” said one celebrity go-to guy with a major jewelry company. “But now, it’s like, 'Take what you need.' If a C-list or D-list magazine calls asking for something, I’m just sending it to them.”

Chris Weeks/WireImage.com

A longtime fashion publicist said she and her counterparts need to start thinking outside the box if they’re going to get press for their clients. She joked—at least, I think she was joking—that she’s calling all her celeb friends and offering to dress them for just about anything, like a lunch with friends or even grocery shopping. “They can have three different outfits,” the publicist said. “I’ll call the paparazzi, and they could just change their clothes, and we’ll get the photos.”