Mayor Rudy Giuliani saluted the New York City fashion industry with an open-air show in the middle of Times Square Monday night, complete with giant TV screens and a musical performance by Grammy Award winner Trisha Yearwood. Nearly 90 designers participated, each showing only one or two looks. Models walked down a makeshift runway in rapid succession (Lauren Hutton, modeling an Armani velvet pantsuit, received an enthusiastic round of applause) as gridlock-causing crowds gathered to watch in the surrounding streets.