Talk about all dressed up with no place to go: Oscar night is going to see a surplus of guests and a dearth of hosts.

The 14-week writers strike took a toll, both emotional and economic, on Hollywood, but some have used it as an excuse to make cuts -- in deals, in holiday gifts and, apparently, in parties.

The Oscar-night party scene was getting to be pretty predictable, and this is the year that longtime traditions are taking a sabbatical. The net result is that with no Vanity Fair party and other cancelled events, and only about half of those at the Academy Awards invited to the Governors Ball, there will be quite the black-tie mob shuffling in their Jimmy Choo slingbacks seeking food and diversion.

In years past, the Governors Ball was the first stop on a serious round of party-hopping. But this year, there simply aren't many places to hop.

Beyond Vanity Fair's one-year hiatus, other party no-shows include People mag's fiesta; Dani Janssen's affair at her home, which has drawn the likes of Jack Nicholson and Clint Eastwood; and the latenight affair hosted by Rick Yorn and Patrick Whitesell. For the second year, the Elton John AIDS fund-raiser is a viewing dinner followed by a John performance with no after-party (though about 75 nominees and execs have received invites to attend the perf).

One contender to fill this black-tie social vacuum is the party Madonna, her manager Guy Oseary and Demi Moore have put together at the last minute.

Whether this affair becomes an annual event hasn't been decided.

The party, to be held in a home in the Westside hills, will begin around 9 p.m. A few hundred people are invited, although this number will probably expand. One person who's seen the guest list said, "Everybody's on it. It gives the A-list Vanity Fair crowd someplace to go to. It will probably be pared down to where it's 85% talent, not a lot of suits."

But even if this party skims off some of the celebrity cream, the Governors Ball will still be the major draw. "It's the biggest game in town," said one exec. "This is going to put the glamour back into the ball."

Source: Variety (found on Drowned Madonna)