Eve of the New Year

Where does the apostrophe belong "New Year (s) Eve" ? New Year's Eve? Because the eve belongs to the new year, right? Not the collective years of the ages? Although even if it was a collective, it would still be considered singular, yes? As it is one collective, not several? Although it's not the eve of the many years, collective or not. So I'm leaving it where it is.

What about the apostrophe in "its" in the contraction of "it" and "is" versus the property of "it"? I remember having a lengthy discussion about this is Mr. Thompson's 10th grade english class, but the conclusion evades me. I believe the apostrophe is reserved for the possessive form- anyone want to weigh in?

Punctuation aside, Erich's preparing an entire turkey for dinner tonight. And potatoes and stuffing. I guess he felt left out on Thanksgiving, as he makes a damn fine turkey and we have too many mothers and grandmothers still having their own Thanksgiving meals for him to justify making yet another.

Not that we don't like all those meals! We love them! Just...every year this time he gets a turkey itch and finds a way to sneak one in somewhere.

That's okay. As long as I get to have a glass of champagne.