Now that Demi Moore has dropped out of the upcoming Linda Lovelace biopic to seek professional help, our favorite stylesetter Chloë Sevigny is stepping in. According to The Hollywood Reporter, Sevigny will play "a feminist journalist on freelance assignment for a men's magazine to find out who the real Linda Lovelace is."

Papa's got a brand new bag, and we're all jealous. Known for designing iconic women's handbags with an exotic touch, Nancy Gonzalez is now exploring the world of menswear, with the help of her company's president, Santiago Gonzalez. The collection, named after and inspired by Santiago, includes an impressive range of luxe travel accessories in various shades of crocodile skin. Men have a choice of over 50 (that's 5-0, seriously) styles that include everything from money clips and zip wallets to weekenders and duffle bags. And each piece is masculine enough to convert man-purse skeptics, but also chic enough to make women fawn.

● Jay Leno is set to take back his 11:35 slot from Conan O'Brien each weeknight after a dismal season of late-night ratings for NBC. What's TV-speak for Indian giver -- or total failure? [New York Times] ● Stylist Rachel Zoe was photographed on the beach looking skeletal after years of being criticized for her effect on the weights of her young female clients. Lindsay Lohan, Mischa Barton and Nicole Richie would be thinking "schadenfreude!" if they knew the word. [E! Online] ● Amid talks of upgraded airline security, some are wondering just how much a full-body scan reveals. First, recall the line at Auntie Anne's Pretzels the last time you were in the airport, then rethink your curiosity. [Jaunted]

● Courtney Love talks about the time Sharon Stone screamed at her in front of Anna Wintour. Oh, memories. [NYMag] ● Miley Cyrus hasn’t seen Twilight -- and doesn’t plan to. “I don’t believe in it. I don’t like vampires ... I don’t want anything to do with it.”[EW] ● Twihards, brace yourselves: Dakota Fanning and Kristen Stewart will lock lips in their next film, The Runaways; according to Fanning, it’s a very passionate kiss. [AccessHollywood]

Each year during the Cannes Film Festival, the American Foundation for AIDS Research (amFAR), holds their Cinema Against AIDS gala: the black-tie rendezvous for about eight hundred guests, among which are many of the stars from the films currently being screened in Cannes theatres, film producers, and anyone directly or indirectly involved in the fundraising effort. Chaired principally by Kenneth Cole, Harvey Weinstein, and Sharon Stone, Cinema Against AIDS helps raise funds for medical research. Both Weinstein and Stone have been tireless supporters of amFAR’s efforts to get the message out about AIDS awareness. Their participation in the gala helps to ensure as many A-listers as possible will show up, thereby increasing amFAR’s visibility. As Kenneth Cole explained to me when the gala was getting underway, "Anyone who is anyone will be here tonight, and Annie Lennox is going to sing. The night is going to be magical." Aware of the current economic climate, Cole told me that "last year was a different time and place, and it’s very hard out there, but it’s no less important in here."

● Who needs a runway show these days? Halston has foregone the usual runway affair for a high-concept fashion music video. [BritishVogue] ● Kanye West would like to set the record straight about how not gay he is. Just because he and his entourage dress like new-wave dandies at Paris Fashion Week doesn’t mean they’re gay. [MTV] ● Bruce Springsteen rules. The Boss wasn’t even aware he was up for a Grammy till he opened the paper on Monday and saw that he won. [VH1]

I've always had a massive crush on aging alpha cougar Sharon Stone. Problem is, she comes and goes, and these days she mostly just pops up for amfAR fundraisers. But now she's back, however briefly, and wants to sell you diamonds for Damiani. "I love working with Damiani," she tells ET. "They're such a lovely family and they're doing so many great things. They're nice people. The wonderful thing about representing a diamond company is that you get to wear all of their diamonds!" Behold the flaxen-haired fox wearing an armload of diamonds and defining glamour: "It's like a cape that makes you feel fantastic," she says. "But you know I'm the one who wore a black t-shirt to the Oscars." That t-shirt incident was 12 years ago, in case you're wondering. To the cape store!

As we all know, Sharon Stone is a bit of an oversharer. She overshared her cervix for a shitty movie. She overshared her Gap-loving, anti-bourgeois bourgeoisie at the Academy Awards. Now, at Cannes, she recently overshared about karma with reference to the Tibetan plight and the Chinese earthquake. New York's Jessica Coen, speculating on Dior's decision to remove Stone's image from all Chinese stores and advertisements, asks, Was it Karma? To be honest, the irony of Stone's comeuppance had occurred to us as well, but as blog commenter "magnetogurl" makes clears, "The author apparently does not understand karma either. If the rule follows, then Sharon Stone will be a harried LVMH executive in a thankless job doing damage control for a mouthy spokeswoman in her next life." Wow, karma's never been that bitchy. Video of the enlightenment after the jump.