Taking its cue from Louis Vuitton, which wrapped its Fifth Avenue flagship store it Takashi Murakami's iconic Monogram Multicolore print for the 2008 holiday season, the Hong Kong Art Museum has commissioned artist Richard Prince to follow suit. The project is one of Hong Kong's first public artworks, and was commissioned as part of "Louis Vuitton: A Passion for Creation," which opened today, and runs through August 9th. Prince's wrapping of choice? A series of pulp novel covers, natch.

The International Art & Design Fair scheduled for October 2-7, 2009 in New York, has been canceled. Brian and Anna Haughton, that fair's organizers, recently called off the Asian Art Fair, which was scheduled for March. The International Fine Art Fair that was on view at the Park Avenue Armory in early May 2009 is said to have lost money, too. In other arts-related cuts, Greece has slashed the its 6 million Euro budget for its new Acropolis museum, which opens on June 20th. (Bonhams's latest sale of Greek art in London did net 3.6 million GPB and 17 world records, however.)

"Welcome to U.S.A. 2.0" says Paper Magazine, which recently invited the likes of Bruce High Quality Foundation, Ivan Chermayeff, Ron English, Shepard Fairey, Jonathan Horowitz, Chris Johanson, Alex Kalman, Mike Mills and Stephen Powers to tidy up America's public image with new design concepts. The project, called "Rebranding America," debuted on May 19th at the Tommy Hilfiger flagship store on West Broadway. See the full collection of designs at the magazine's website, including Steve Powers's wry commentary on America's spending habits.