The Obama family is definitely leaning modern, with Rothko, Degas and Diebenkorn among the artists represented. They've also included a word painting by Ed Ruscha. Not wanting to deprive the public of the opportunity to view works on display, the Obamas limited their choices to artwork in museum storage.

There's now a lot of money hanging from those White House walls. "Red Band" by Rothko, "Berkeley No. 52" by Diebenkorn and "White Line" by Sam Francis together are estimated to be worth between $20 million and $30 million. Throw a piece by Jasper Johns into the mix – specifically "Numerals, 0 through 9" – and you get a sense of the collection the Obamas have assembled.

Even with access to a collection of that caliber, though, I'd still never take Obama's job. And, there aren't enough Rothkos out there to change my mind.

No, not the latest bloated-budget Hollywood thriller, but something much closer to home: The Providence Effect, an award-winning documentary about Providence-St. Mel, a small school in Chicago's gritty East Garfield Park that has achieved an incredible 100% college acceptance rate against all odds.

Oprah deserves at least some of the credit; she gave the school $1 million to help fund the educational juggernaut that has been called the future of education. Obama meanwhile visited the school in 1998 and gave an incredible inspirational speech that showed he was destined for the highest office in the land.

The movie centers on the equally inspiring journey of the school's principal Paul J. Adams III, who has challenged the Chicago school system for 30 years with his revolutionary approaches to teaching, and also founded the Providence Englewood Charter School. Of course the Obamas and Oprah have been sent copies to view in their personal screening rooms, but the film opens in select theaters nationwide this Friday.

The chatter about Michelle Obama's shorts last week was deafening. Google the subject and 9 million entries pop up. Well, make that 9 million and one, including this post. It blew away President Obama's mom jeans episode last month documented by only 1 million entries.

People care deeply about the way people dress. But it's a mystery why. Why the hell do we care? I mean, it's kind of embarrassing that we paid so much attention to a lousy pair of shorts. And modest ones at that.

Something in our primitive dinosaur brains kicked in when we saw Michelle Obama step off Air Force One. We weren't sure if it was okay. Eventually, the media asked us to weigh in and, after thinking about it with our evolved brains, 80 percent of us said it was fine.

Catch Madonna in a pair of shorts and even our dinosaur brains would be nonplussed. Style and cut would be debated, sure, but impropriety would never come up.

Why? Because clothes are inextricably linked to identity. Rationally, how can we whine that Michelle Obama wears shorts when most of us wear shorts? But, deep down, we don't want her to be like us. We want to see an aspirational image of the First Lady descending from the most exclusive airplane in the world. We want Jackie O. Or at least a business-like version...which Michelle Obama is most of the time.

Maybe not in a skinny pair True Religions, but we'd kinda like to see President Obama in a slimmer pair of jeans, say from Lucky Brand Jeans. That dovetails with our image of him as a hip, modern guy. Mom jeans don't fit, both figuratively and literally.

I reported that Swiss watch maker Vulcain was going to present President Obama with a Vulcain watch, and here is finally what the specific watch looks like. We know that Barack Obama typically wears his Jorg Gray 6500 watch most of the time, but he does have other timepieces. Vulcain has been giving out watches to US Presidents since the 1950s and the latest timepiece they've sent to the oval office is quite stunning. President Obama received a stainless steel Vulcain Cricket Anniversary Heart watch. The watch is part of the classic Cricket watches named as such for their loud alarms. The mechanical Vulcain Cricket V-18 movement is one of the loudest (if not the loudest) mechanical watch alarms on the market. The alarm complication is easy to set via the upper crown on the right side of the watch using the central ring on the dial. The watch also features a beautiful partially skeletonized dial - now popular on many luxury timepieces. The case is 42mm wide and water resistant to 50 meters.

The sides of the watch case feature a larger coined edge, while the overall styling is classic with the modern touches being reserved for the dial. The watch is easy to read and a good mix between formal and sporty in style. I happened to actually think the style suits President Obama quite well. Funny enough the black and steel tones of this timepiece match those of his Jorg Gray 6500 watch - creating similar looks. Let's hope he wears the watch on nice occasions. The retail price of the stainless steel version of the Vulcain Anniversary Heart watch is about $6,500. It is unclear whether versions such as the pictured one with the message to Barack Obama will be available at all to the public, as it is likely a one-off version reserved for the President himself. The Vulcain Anniversary Heart watches come in various tones as well as in 18k gold.

Ariel Adams publishes the luxury watch review site aBlogtoRead.com.

Diners in New York City's Greenwich Village got a surprise Saturday night when the President and First Lady joined them for dinner. The First Couple ate at the Blue Hill restaurant before seeing a Broadway show "Joe Turner's Come and Gone" at the Belasco Theater. The NY Daily News reports that when the couple left the restaurant the other diners stood up and applauded them. Diners were searched before going into the restaurant and the entire block was closed off.

The menu at Blue Hill New York focuses on local food sourced mostly from Blue Hill Farm in Great Barrington, Massachusetts, and Stone Barns Center for Food and Agriculture. Guests can choose from the regular menu or opt for the "Farmer's Feast," a five-course tasting menu. Entrees including Hudson Valley chicken pot au feu and Berkshire pig stew are in the $30-$40 range. The President and First Lady have expressed an interest in gardening, farming and healthy food options so this restaurant, which showcases fresh fruit and vegetables and simple preparations was a natural choice.

Like everyone else, President Obama has to pay his taxes. The Washington Post reported that the Obamas paid around $855,000 in federal taxes. They could have received a $26,000 refund but opted to have that amount applied to their 2009 income taxes. The President's first tax return while in office showed that he earned $2.6 million from sales of his nonfiction books, "The Audacity of Hope" and "Dreams From My Father" making him one of the most successful nonfiction writers in terms of income. The first couple also reported wages of around $200,000 and like most of us this year, a small amount of investment income. The first family donated $172,050 to charities which represents 6.5 percent of their income. They donated to a total of 37 charities including $25,000 donations to CARE and the United Negro College Funds.

Vice President Biden and his wife, Jill reported an income of about $270,000 and paid about $47,000 in federal taxes and donated just $1,885 to charity. Biden has a nonfiction book too, an autobiography "Promises to Keep: On Life and Politics" but only earned around $9,500 in audio book royalties.

Interestingly enough it took a foreigner - namely super-stylish British historian, author, and journalist Nick Foulkes - to realize that for most people the appeal of society swells is purely decorative. What sets his recently published book - High Society: The History of America's Upper Class - apart from the usual social history is the amazing array of archival photographs. Beginning with the early 17th century, Foulkes focuses on the famous families - the Vanderbilts, Fricks, Morgans, and Astors among them - who came to embody the American aristocracy. He also plots the social trajectory all the way to the present day, and heiresses such as the famed Miller Sisters, aka Pia Getty, Princess Alexandra von Furstenberg and Princess Marie Chantal of Greece, pictured on the book's cover, above.

Of course, you first have to accept Foulkes' premise that America does in fact have a class system, even if the current recession has painfully demonstrated that no one should take their positions for granted while Barack Obama's ascendancy proved that traditional barriers are no longer as formidable. "I am often told that 'American high society' is an oxymoron, either by those who hold the quaint belief that the United States is a classless society in which opportunity is open to all," Foulkes notes, "or by Europeans who believe themselves to be superior and look down pejoratively upon the social aspirations of a country that is younger than many families, social clubs, educational establishments, and even socks in the Old World."

The fact of the matter, however, Foulkes writes, is that "The United States is no longer a young country; it is a middle-aged nation with its own social codes and structures locked into its collective DNA. It has its prominent families, an untitled aristocracy, who exerted such a profound effect on the nation or have just been around for so long that the doings of their descendants are still a source of interest." The second pillar of American society is the plutocracy, "Men who made so much money that they simply floated to the pinnacle of the social structure on a tide of cash, building huge mansions and amassing art collections that remain among the most impressive the world has ever seen."

Michelle Obama has already taken a rake to the White House lawn tohelp put a kitchen garden in, now the First Family is taking matters into their own hands when it comes to White House decor. New York magazine reports that Barack and Michelle Obama have decided not to use taxpayers' money to renovate their private quarters at the White House. Traditionally new presidents have $100,000 of government money to outfit their rooms. But the Obamas, who hired famous interior designer Michael S. Smith. will not be using public funds or accepting free goods to redecorate their quarters. Because it will be out of public domain, the exact budget for the Obama overhaul isn't known. Michelle Obama has expressed interests in brands like Pottery Barn but that might be a bit of a waste of Mr. Smith's talents.

Every President from John F. Kennedy to Bill Clinton stayed in The Beverly Hilton's Presidential Suite and the tradition continues now that President Obama has spent the night there. The President is in Los Angeles as part of a tour of southern California that includes appearing on "The Tonight Show."

The Presidential Suite is a three-room suite that measures 1,870 square feet. It includes a master bedroom and living room and has views of Wilshire Boulevard. Amenities include two 42-inch plasma televisions and a 13-inch LCD screen in the spa bathroom as well as a patio, fireplace and library area. The suite is said to rent for $4,000 a night.

President Obama wants to create jobs, yet he isn't too worried about some that already exist. Miami's cigar manufacturers are watching April 1, 2009 with grave concern. The new State Children's Health Insurance Plan (SCHIP) takes effect on that date, resulting in a 900 percent tax increase on every cigar made in the United States – or imported here.

What's at stake?

For Miami, it's the many people responsible for rolling 75 percent of the 272 million cigars rolled in this country. Manufacturers and retailers alike are bracing themselves. A tax that takes the surcharge on hecho a mano sticks from 4 cents to 40.26 cents is cause for alarm.

So, as my sergeant used to say, "Smoke if you got 'em." At this rate, you may not have 'em much longer ... or at least not as many.

Like many other couples, the President and First Lady went out to dinner on Valentine's Day. The pair dined at a Chicago restaurant which is owned by Oprah's former personal chef, Art Smith. Table Fifty-Two specializes in high-end versions of classic southern food like shrimp and grits, crab cakes, pan-seared catfish, jambalaya with sides of macaroni and cheese and collard greens. According to the Chicago Tribune, Smith, who was Oprah Winfrey's chef for ten years, greeted the couple and whisked them away to a private dining room. The dinner destination apparently surprised some local foodies who were guessing that the Obamas might end up at Spiaggia for Italian food or at Topolobampo for Rick Bayless's Mexican/Southwestern fare.Table Fifity-Two is known for its generous portions, is Mrs. Obama toting home the leftovers in the picture above?

Chicago's Fairmont Hotel just re-opened after a $50 million renovation that includes a new 1,850-sq.-ft. top floor Presidential Suite dedicated to the city's own Barack Obama. Overlooking Chicago's Grant Park, where Obama made his historic acceptance speech on the eve of his election as the 44th President of the United States, the plush suite features an "illustrative montage" of Obama's life along with a selection of memorabilia including campaign buttons, newspaper headlines and seals of the various offices he has held throughout his political career.

The Fairmont has created a special package to inaugurate the suite which includes an intimate, chauffeur-driven tour of Obama's favorite spots in Chicago in the hotel's private Bentley Continental Flying Spur (above). The package features roundtrip airport transportation, fresh floral arrangements upon arrival, a fully-stocked butler's pantry, a personal concierge to assist with reservations, museum passes and basketball or baseball tickets, and spa and restaurant credits. The two-night package is available for $8,244 plus tax.

[via JustLuxe]

The slick leather briefcase our new Chief Executive has been spotted with lately is this Tumi Alpha Leather Expandable Brief. Made from rich, glove-tanned leather designed to burnish to a beautiful patina over time, the rugged yet stylish case features a removable computer sleeve, numerous organizer pockets, and plenty of room for papers, files and extra white bow ties. We're not sure when and where President Obama acquired the bag, but it retails for $550. The briefcase is part of Tumi's Alpha Collection, inspired by aeronautics, automotives and sports,which features several stylish pieces for business and travel including everything from toiletry kits to golf bags. It also comes in ballistic nylon for $350.

[via JustLuxe]

There's been a lot of speculation over whether Barack Obama actually wore bulletproof clothing when he was sworn in as the 44th president of the United States on Jan. 20. There were certainly a number of extraordinary security measures in place. One thing's for certain however - the only person capable of making bulletproof clothing that's indistinguishable from your average Hart Schaffner Marx ensemble is Colombian designer Miguel Caballero - but it costs a hell of a lot more.

(For the record, Caballero's rep declined to comment when we asked if they'd furnished the President with any clothing.)

Back in October we told you about Caballero's stylish $10,000 quilted riding jacket. Known as "The Armani of Armor", Caballero developed a proprietary lightweight anti-ballistic fabric which he fashions into a number of garments, including a bulletproof tuxedo shirt (above). This allows for maximum flexibility and discretion while providing protection from weaponry ranging from a 9mm pistol to an Uzi, depending upon the security level you select.

Caballero's high-end Black Label line, favored by such security-conscious VIPs as Prince Felipe of Spain, President Álvaro Uribe of Colombia and President Hugo Chávez of Venezuela, also features a $12,000 bulletproof polo shirt, a trench coat, leather jackets and even ski gear. An additional stab-proof lining is optional on most garments. Check out the gallery for some more of his attack-proof designs.

Hartmarx, the Chicago-based clothing company that made President Obama's dodgy tuxedo for the inaugural ball (above), as well as several of the suits he wore on the campaign trail, has just filed for bankruptcy the Chicago Tribune reports. Obama favors the firm's fairly bland Hart Schaffner Marx line, but the company also makes high-end men's clothing under its Hickey Freeman label, that, to our way of thinking, is much more suitable for a stylish young Chief Executive (it even has a Presidential Collection). Hart Schaffner Marx sales have picked up a bit thanks to Obama, but not nearly enough.

A newer, hipper Hickey Freeman spinoff, hickey, has recently become a fashionista favorite, and will hopefully survive the process. The company plans to continue operating while it undergoes a reorganization, but said it may sell some or all of its assets. Hartmarx, the largest maker of men's tailored clothing in the U.S., traces its roots to 1872, when brothers Harry and Max Hart first opened a men's clothing store in Chicago. The company also owns the downmarket Sansabelt and Palm Beach brands, and has licensing agreements with several well known labels.