In a small saucepan over medium-low heat, cook cranberry sauce for 35 minutes, stirring frequently until reduced to 1 cup. Cover and chill 2 hours.
Preheat oven to 350 degrees. In a medium bowl, combine graham cracker crumbs, 1/4 cup sugar and melted butter. Press firmly on bottom and 1 inch up sides of a 9 inch springform pan. Bake for 8 minutes.
In a large bowl, combine cream cheese and sugar. Beat with an electric mixer until fluffy. Beat in eggs, one at a time, beating well after each addition. Stir in melted white chocolate.
Spoon 1/2 of batter into prepared pan. Spread reduced cranberry sauce over batter. Top with remaining batter. Bake 45 minutes or until almost set. Let cool completely on a wire rack. Chill 8 hours before serving. Can be frozen for up to 1 month. To serve, garish with fresh cranberries and brush with melted preserves, if desired.
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