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I know you know: Tom Ford and Domenico De Sole are leaving Gucci. It's been brewing for over a week now; last week in The Times, Anna Wintour declared the possibility of Gucci's loss of Ford "a catastrophe." Nearly immediately after the announcement, shares of Pinault-Printemps-Redoute SA fell 6% on the Paris boards. Also several socialites fell over 100% on the Paris streets. Har har har.

All the news is full of nicey nice "Oh I love Gucci" "Oh we love Tom Ford" talk. If anyone has anything better than that PR claptrap, please let us know.

In any event, Ford will be giving up his $6+ million salary for parts unknown. Let the rampant speculation begin! My money's on a Tom Ford, LLC, which will exclusively produce high-end slippers and indoor footwear from exotic Arctic furs. Anyone care to take a wager?
Ford, De Sole to Leave Gucci in 2004 [AP]