Be thankful if you still have a job: After the hell year that was 2009, a lot of fashion people don't. Many designers were fired, some were hired, and plenty lost their businesses altogether. An overview of the tumult:

• A handbag will co-star with Christina Ricci in a "Donna Karan-friendly" film directed by Sting's son, Jake Sumner. So that's what we're calling "advertising that aspires to go viral" these days? [WWD]

• Kate Moss says her motto is, "Nothing tastes as good as skinny feels." [WWD]

• It had to happen eventually. David Beckham has dipped a toe in the choppy waters of retail, becoming a Celebrity Designer. You can buy his clothes for Adidas Originals starting this fall. [WWD]

• Michelle Obama wore tidy Thakoon in D.C., and vivid yellow Jason Wu in London. New York Times fashion critic Cathy Horyn wonders what it all means. [On The Runway]

• Geithner's proposed new regulatory framework buoyed retail stocks by 4.4% yesterday. Saks' shares rose 15%, Ann Taylor was up 18%, Macy's climbed 10.2%, and Liz Claiborne rose 16.2%. Finally, some good fashion economic news! [WWD]

• Women, gird your loins: Lady GaGa wants you to share her personal, pants-optional, control-top-hose-and-neon-and-sunglasses-at-night style of dress. Because in the future, everyone will have a clothing line. [Sassybella]

• Dad of the year Kevin Federline has launched a kids' clothing line, Otzi, which, when you think about it, makes no less sense than his rapping or acting careers. [People, Perez Hilton]

Mischa Barton finally launched her long awaited line of hipster headbands. They will retail for a totally reasonable £60-£120. Who doesn't want to pay over $100 for a piece of Barton-branded string? [WWD, Beauty Confessional]