Harvey Weinstein back in 2007 bought up the iconic dress label Halston (all those Studio 54 jersey-knit disco dresses from the ’60s and ’70s that resisted stains from spilled scotch or cocaine) which re-launched in 1997 and then needed the jaws of life. Now the word around fashion circles is that Weinstein will soon announce he’s getting out. It’s good news. The more Harvey keeps his focus on showbiz (and not on the showroom biz), the better off he’ll be. I’ve said it before and I’ll say it again: one of the only industries worse than the movie industry has to be the fashion industry. My own opinion is that the junction between Hollywood and Seventh Avenue should stay on the Red Carpet. That’s why I made merciless fun of Harv when he acquired Hal­ston, backed by Hilco Consumer Capital, spurred by his fashionista then-girlfriend/now-wife Georgina Chapman and his involvement as a producer of the Project Runway cable TV series. Because if you accept the premise that the film business is the folly of the filthy rich, and the indie film business the folly of the stupidly rich, then the fashion business must be the folly of the insane rich.

Editor-in-Chief Nikki Finke - tip her here.