The actor’s longtime production partner Paula Wagner is stepping down from her position as chief executive of United Artist. The group, which is owned by MGM, will retain Tom Cruise as a full partner, even after Wagner’s departure. Yeah, blah-dee-blah industry talk.

Meanwhile, Tom and Katie Holmes seem determined to bring the goofiest elements of 80s fashion back. Check out the shades, jacket and hair that Tom is sporting here before a NY Jets vs. Washington Redskins game in New Jersey.