CBGB's to become fashion boutique

I can't remember—is punk dead or not? If not, maybe this will do it: Legendary New York club CBGB's is being turned into a high-end fashion boutique by John Varvatos, a designer who uses rock icons like Iggy Pop and Alice Cooper in his ad campaigns and the man behind those Converse By John Varvatos designs, otherwise known as "$500 for a fucking track jacket? Are you shitting me?" Johnny Ramone's corpse had no comment.