• Forbes, Wednesday, February 11, 2009 9:30 AM

In December, Jimmy Jellinek, 34, was appointed editorial director of Playboy with little fanfare, making him the man in charge of saving the magazine. The former editor of lad magazines Maxim and Stuff, Jellinek promises no laddie hijinks now.

He says he wants to produce a magazine like "the Playboy of the 1960s, which occupied the political and moral high ground." Expect more columnists and classic interviews with leading thinkers, such as economist Paul Krugman. The competition will not be porn, but New Yorker and Vanity Fair, he says.

What has Jellinek done so far? Last month, he hired former Guns 'N Roses bassist Duff McKagan -- who is known more for his drug and alcohol problems than his financial prowess -- to write a financial column for both the magazine and Playboy.com. Jellinek also announced deals to roll out a Playboy-branded men's cologne and a "bunny bra," with padding to expand it two sizes larger. Meantime, the magazine lost $5.2 million in the third quarter, its stock has dropped to under $2 and it expects a colossal fourth-quarter loss.

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