• The most genetically blessed child in the world has arrived. Supermodel Gisele Bundchen and husband Tom Brady are the parents of a bouncing baby boy, although they haven't divulged his name yet. [People]
• He's been selling off his homes left and right to pay off the millions he owes in back taxes. Now Nic Cage is being sued by the mother of his 18-year-old son, Christina Fulton, who claims Cage subjected her to "mental, physical and emotional abuse," promised to pay off $250,000 in credit card debt, and reneged on a promise to give her the house she lives in. She's seeking $13 million, which is probably about $13 million more than Cage can afford. [TMZ, P6]
• Giuseppe Cipriani is back! The scandal-plagued restaurateur has been out of the country for the past year as he faces possible criminal charges. But he's working out a deal with the feds, which explains why he's back in NYC and was seen at both Harry Cipriani and Downtown Cipriani yesterday. [P6, NYDN]
• What's the latest with Tiger Woods? Glad you asked! His mother-in-law, who was rushed to the hospital after experiencing stomach pains, was released yesterday and is doing fine; a new report suggests Woods paid a porn star named Veronica Siwik-Daniels for sex "for years" when he was in Las Vegas; another outlet reports he gave one of his other mistresses, Jamie Jungers, thousands of dollars over the years and she used some of the cash to pay for liposuction; the Star reports that Elin Nordegren called Rachel Uchitel 90 minutes before Tiger's car crash, yelled "I know everything," hurled the phone at Tiger's face, and then "chased him around the house" smashing up the place; and Rachel Uchitel is finally speaking out and tells OK! that she's really upset that she's been portrayed as a "villain" up until now. [NYP, NYDN, Star, OK!]

• Polo Ralph Lauren has been hit with a lawsuit for stamping the word "lifeguard" on clothing without permission. Another company is claiming it trademarked the word years ago. [NYP]
• As expected, Escada filed for bankruptcy protection in a German court today. [Bloomberg]
• Is Bravo renewing The Fashion Show for a second season? That's unclear for the time being. [Cut]
• Tory Burch and Georgina Chapman are making cameos on the next season of Gossip Girl. [WWD]
• Now that visiting a tanning a salon is tantamount to sucking on asbestos or consuming toxic nuclear waste, is "pale the new tan"? [NYT]

• Forbes's annual list of the highest-paid models is online and poor Gisele Bundchen has taken a blow: She's only made $25 million over the past year, down from $35 million the year before. Heidi Klum and Kate Moss were both up for the year, however, so it isn't all bad news, thank goodness. [Forbes]
• Speaking of Gisele, she is not pregnant, at least according to husband Tom Brady. [Us]
• Christian Lacroix's fashion house filed for bankruptcy in Paris today. [NYT]
• Project Runway will be the same show it's always been when it finally returns to the air later this summer. [Cut]

♦ The Marc Jacobs bribery scandal has finally been resolved. Earlier this year, it was alleged that an employee of the Armory was paid off so that Jacobs' company could secure the venue for runway shows. Now the company has paid $1 million to settle the matter. In happier news, Jacobs says he's eager to make an honest man of his boyfriend Lorenzo Martone: "If I can get him to marry me, I would." [NYP, The Cut]
♦ The Scientologist wears Miu Miu? Katie Holmes is rumored to the new face of Prada's hipper, younger sister. [Fashionologie]
♦ Miuccia Prada's non-sartorial items are diversifying at a dizzying pace: Here's a handy guide to Prada's phones, trinkets, and even cars. [SassyBella]

Our final except from "Deluxe," Newsweek culture and fashion writer Dana Thomas' look at how the luxury market went mass market, finds Thomas on a visit to the headquarters of Prada, where she interviews a reluctant Miuccia Prada. "Deluxe," published by The Penguin Press, arrives August 16th.