The luminosity density of red galaxies
  A complete sample of $7.7\times 10^4$ galaxies with five-band imaging and spectroscopic redshifts from the Sloan Digital Sky Survey is used to determine the fraction of the optical luminosity density of the Local Universe (redshifts $0.02<z<0.22$) emitted by red galaxies. The distribution in the space of rest-frame color, central surface brightness, and concentration is shown to be highly clustered and bimodal; galaxies fall primarily into one of two distinct classes. One class is red, concentrated and high in surface brightness; the other is bluer, less concentrated, and lower in central surface brightness. Elliptical and bulge-dominated galaxies preferentially belong to the red class. Even with a very restrictive definition of the red class that includes limits on color, surface brightness and concentration, the class comprises roughly one fifth of the number density of galaxies more luminous than $0.05 \Lstar$ and produces two fifths of the total cosmic galaxy luminosity density at $0.7 \mathrm{\mu m}$. The natural interpretation is that a large fraction of the stellar mass density of the Local Universe is in very old stellar populations. 
David W. Hogg (NYU), Michael Blanton (NYU), Iskra Strateva (Princeton)   et al