This is a must read:
Last weekend these guys created an amazing magazine in 48 hours: Long Shot.

Such a fresh concept:
"Over a 48 hour period from noon July 29, 2011, through noon July 31, 2011, thousands of writers, editors, artists, photographers, programmers, videographers, and other creatives from all around the world came together via the Internet to make a magazine from start to finish.
Welcome to Longshot Issue Two! The theme is debt."

Ace initiative in (struggling) mag world, can't wait to get my copy...order Long Shot here