After sparking public outrage for using a gay slur in a recent interview, Brett Ratner has resigned as producer of the 2012 Academy Awards.

“This morning, Brett Ratner submitted his resignation as a producer of the 84th annual Academy Awards to Academy President Tom Sherak,” the Academy of Motion Picture Arts and Sciences said in a statement. “Ratner then issued an open letter to the entertainment industry in which he explained his decision.”

During a Q&A session for his new film, Tower Heist, a reporter asked Ratner about his rehearsal process, to which he responded, “Rehearsal is for f***.” Ratner has released an open letter to the entertainment industry explaining why he has resigned from his position, stating, “It was a dumb way of expressing myself. Everyone who knows me knows that I don’t have a prejudiced bone in my body.”

Ratner also met with GLAAD today, and Herndon Graddick, Senior Director of Programs and Communications released a statement about Ratner's decision. “When we sat down with Brett today, he seemed very sincere in his desire to use this experience as a way to begin speaking out against anti-gay language in popular culture,” Graddick said. “We believe his resignation is just the first step and will be announcing a series of concrete actions with Brett in coming days and weeks.”

Click after the jump to read Ratner's complete apology letter.

Our videographers have been working overtime to capture all the celebs on camera around town!

In fact, they've been generating SO much video - we can't fit it all on X17online!

Check out all these videos on www.X17video.com:

• Janet Jackson parties at Foxtail - but where's Jermaine?
• Kylie Minogue grants a fan a special birthday wish!
• Shirley Maclaine accidentally tries to get into someone else's car. Maybe it was hers in a past life?
• Shauna Sand and an equally blonde gal pal work it outside of Villa.
• Patrick Dempsey spends some quality time with his daughter Tallulah before heading off to Paris to promote his new film.
• Heroes' Ali Larter gets her hair did in Beverly Hills.
• Colin Farrell's stalker speaks!
• Funnyman Harland Williams has a hot girlfriend.
• "Nobody cares" about Larry King?
• Brett Ratner takes a dip into the nightlife.
• Even paparazzi pitch movie ideas to Brian Grazer.

And much, much more!

...everyone else was Rushing to Brett Ratner's side! In addition to Paris Hilton, we spotted all sorts of celebs circulating around the various afterparties - Matthew Perry, Janice Dickinson, Will.i.am, Won G, Taryn Manning...the list goes on and on! But the biggest name - or at least the biggest frame - belonged to featured actor Bao Xishun, the tallest man in the world - see if you can pick him out of the crowd!

To say directorial bad boy Brett Ratner was on his best behavior last night would be an understatement - not only did he leave alone (don't worry, Brett - we'll make sure to let your girlfriend know!), but he took the time to wish Lindsay Lohan a happy birthday before he took off! But don't go thinking Brett's gone goody-two-shoes - when the paps jokingly followed up on his promise to pay Paris Hilton twenty million dollars to star in his next blockbuster, the Rush Hour director couldn't help but play along!

Mr. Chow was a zoo Saturday night as X17 photographers spotted a luminous Penelope Cruz - in that gorgeous yellow dress - actress Bai Ling (who wore an "interesting" outfit, as usual), P-Diddy - who didn't have any advice for Paris Hilton when asked - producer Brian Grazer and director Brett Ratner, who joked to us about a behind-bars Paris possibly starring in his next film and making Rush Hour 4... but is that second part really a joke?

...Brett Ratner managed to find someone even more irritating than the paparazzi! We caught up with the Rush Hour director sneaking out of the back of Mr. Chow's after a meeting with Warren Beatty, but unfortunately he still caught the eye of a random nut with a bug up his ass about God! Ratner, to be fair, did an admirable job of gladhanding the guy without committing to anyone - hey, what do you expect from a major Hollywood director?

But Brett wasn't the only famous face out on the town - we also caught James Caan signing autographs outside Madeo, Gwen Stefani for a split second as she left an underground garage, and Jo De La Rosa from The Real Housewives of Orange County (and, soon enough, from the world of pop music too)!

When you're an heiress, one birthday party just won't do! Paris held a second birthday bash for herself at her house Saturday night. Her parents, Rick and Kathy (whose reaction to one of Paris’ biggest fans was quite amusing) were there for their daughter's second celebration, as was sister Nicky with boyfriend David Katzenberg, Kendra from The Girls Next Door (who said that Bridget and Holly were at home asleep), Brandon Davis, DJ Paul (from Three Six Mafia), a very drunk Wee Man from Jackass, Brett Ratner and Elliot Mintz also made an appearance at the big bash.

In the week leading up to the Oscars there’s a million parties around town, and Wednesday night was no exception! Michelle Trachtenberg, Nicky Hilton and beau David Katzenberg partied at new Hollywood hot-spot Winston's, while Daryl Hannah and Brett Ratner (who was gettin’ called out on his "bullshit" by an exec!) were at a party at the Chateau Marmont. Meanwhile, Joe Francis tried to “out” a local entertainment reporter at Hyde who did not want to be caught on camera! Maybe she just didn’t want to be caught on camera with him???