It’s widely regarded as the second biggest awards show next to the Oscars and Hollywood’s first big bash of the year. Winning a Golden Globe, even without an Oscar, is a highlight in itself (although I have yet to see movie previews touting “Golden Globe winner Jim Carrey” or so and so). This year, the drama is heightened as the Best Picture race remains wide open. “The Departed” and “Little Miss Sunshine” performed well at the Broadcast Awards, but can they continue their run at the Globes? Or will “Babel” and “Dreamgirls” elevate themselves to the top of the list? We’ll also be on the lookout for moving and memorable speeches, like Jamie Foxx’s tribute to his late grandmother two years ago. Sometimes in a close race, a compelling speech can make a big difference.

Here are our predictions:

Best Picture (Drama): “Babel”

It got the most nominations and often times, the most nominated film wins. Plus, with its cross-continents plot and message about people needing to understand each other, it just seems like the kind of film the Hollywood Foreign Press would embrace.

Best Picture (Musical/Comedy): “Dreamgirls”

We still think “Little Miss Sunshine” may be a bit too small for the Globes. The Hollywood Foreign Press loves musicals (“Evita,” “Chicago,”) so “Dreamgirls” seems like a logical choice.

Best Actress (Drama): Helen Mirren, “The Queen”

Too bad for Kate Winslet, because she really gave an incredible performance this year, but the Dame is unstoppable.

Best Actor (Drama): Forest Whitaker, “The Last King of Scotland”

We really want to give it to DiCaprio, who is double nominated in this category. Perhaps the voters will look at that and think he deserves something, but most likely, it will just result in a split vote. Whitaker has steamrolled through the precursor awards and he should be victorious again.

Best Actress (Musical/Comedy): Meryl Streep, “The Devil Wears Prada”

She’s such a heavyweight that it’s hard to bet against her, although Beyonce may get some votes for “Dreamgirls.”

Best Actor (Musical/Comedy): Sacha Baron Cohen, “Borat”

Everyone wants to see “Borat” take the stage, and an Oscar nomination seems somewhat unlikely.

Best Supporting Actress: Jennifer Hudson, “Dreamgirls”

We think the HFPA will really love Rinko Kikuchi, but with fellow co-star Adrianna Barrazza also in the mix, the possibility of a split vote is just too great. Hudson collects another trophy.

Best Supporting Actor: Brad Pitt, “Babel”

Here’s our gutsy upset pick of the night. The Globes love big stars and they don’t come any bigger than the male half of Brangelina. If “Babel” performs well as expected, Pitt could ride the wave to his second Globes win (he previously won Supporting Actor for “12 Monkeys” a long time ago).

Best Animated Feature Film: “Cars”

It’s the best one of the year and the best usually wins.

Best Foreign Language Film: “Letters From Iwo Jima”

Clint’s consolation prize.

Best Director: Martin Scorsese, “The Departed”

The Globes are notorious for splitting Picture and Director and we think they do it again. They’ve traditionally ignored Scorsese, so this would make up for some of it.

Best Screenplay: William Monahan, “The Departed”

For some reason, adapted screenplays tend to do better at the Globes, so we’ll stick with Monahan’s hilarious, well-paced script.

Best Original Score: Hans Zimmer, “The Da Vinci Code”

Call it a hunch.

Best Original Song: “Listen” – “Dreamgirls”

It’s really a catchy tune and has the power of Beyonce behind it.