Despite a driving rain, nearly 500 people made it to mid-town Manhattan’s Guastavino’s Thursday night for BusinessWeek‘s "What’s Next?" party, celebrating the magazine’s first redesign in four years. The magazine’s new, sharper look debuted in the October 22 issue which hit newsstands today.

The evening began quietly with cocktails and hors d’oeuvres, and those who attended brushed elbows with the likes of Nixon-era secretary of state Henry Kissinger, former General Electric CEO Jack Welch and CosmoGIRL! founding editor Atoosa Rubenstein.

Vaulted company aside, the festivities got under way a little more than an hour in when a tap dancing, cell phone texting, laptop toting ensemble of 20-something age performers took the red BusinessWeek stage. The performance made obvious the coming together of young and old, a concept BusinessWeek hopes is just as clear in its redesign.

The big surprise of the night was when BusinessWeek president Keith Fox and editor Steve Adler introduced record producer Clive Davis. In keeping with the evening’s "What’s Next" theme, Davis in turn introduced I Nine, a band he says is the "next big thing."

Overall, the party was a classy, hip way to formally announce the redesign BusinessWeek hopes will launch it into the 21st century.