Shia Lebouf jokes and laughs with director Oliver Stone and co-stars Carey Mulligan and Michael Douglas on set of Wall Street 2 in New York City, New York on November 5, 2009. The transformer star looks like quite the businessman as he walked to set enjoying a cigarette and coffee before shooting.

Fame, Bauer Griffin

Michael Douglas is reprising the role of arch villan Gordon Gekko, who uttered the immortal “Greed is Good” line which personified the excesses of the late 1980’s.

23-year-old Transformers star Shia Labeouf will play a young Wall Street broker with Frank Lagella playing his mentor in the film.

PCN

Michael Douglas has broken his silence about his son Cameron’s recent arrest on drug dealing charges.

According to a statement from Michael’s rep: “The family is devastated and very disappointed in Cameron’s recent behavior. Any family who has dealt with substance abuse knows how devastating it can be.”

Cameron, who was caught with methamphetamines, is currently behind bars at the Metropolitan Correctional Center in Manhattan, after violating the terms of his home detention by allegedly asking his girlfriend to smuggle heroin to him inside his mother Diandra’s NYC apartment.

A preliminary hearing is set for September 10. If convicted, Cameron faces a minimum of 10 years in prison.

Source, Fame Pictures

Bauer Griffin

A slew of stars including Hugh Hefner, Matthew McConaughey, Annette Bening, Warren Beatty and Melanie Griffith strutted into the Sony Studios in Los Angeles last week to honor Michael Douglas as he received AFI’s 37th Annual Lifetime Achievement Award. However, the entire evening Michael barely took his eyes off his stunning wife Catherine Zeta-Jones, and it seems he made his intentions very clear the very first time they met.

“My very first impression was that he was very funny and very charming,” Catherine Zeta-Jones told Tarts. “And straight away he was very direct that he wanted to be the father of my children. So that was it …”

The two have since had two children, Dylan, 8, and Carys, 6.

Although Douglas is still clearly mesmerized by his leading lady, he was less-than-impressed when a reporter asked Zeta-Jones first of all what she was wearing.

“I’m being honored for a Lifetime Achievement Award and you ask my wife what she is wearing. Not even the second question, you ask it straight up,” he said while walking away, before reluctantly being enticed back.

But according to Michael Douglas’s 92-year-old father Kirk, he didn’t want his son to even enter show business.

“For years I tried to get him out! I thought he was going to be a lawyer and I would encourage that but my son never listened to me,” Kirk exclaimed. “He’s too young or I’m too young for my son to have a life time achievement award. I don’t know how I feel. I have mixed emotions.”

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The much-discussed Wall Street sequel is a go, EW has learned. Michael Douglas will return as corporate raider Gordon Gekko, the role for which he won the 1987 Best Actor Oscar, and Oliver Stone will be back as the director of the followup to the movie that put the phrase “Greed is good” into the popular lexicon. Shia LaBeouf is in talks to play a young trader in Wall Street 2, which is set 20 years after the first installment. The film’s plot will revolve around Gekko’s life after he gets out of jail during the current economic climate. Edward R. Pressman is producing the film, whose latest screenplay draft was written by Allan Loeb (21).

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