It seems like every few years Benjamin Franklin gets a facelift. Well once again Mr. Big Face will look brand new when the new $100 bill gets released in October.
Got $75 million handy?
Thats what the King Of The South’s price tag is now, as his Atlantic Records contract ends. And he is now the number-one free agent in rap — and despite the steep price tag he’s putting out … some deep pockets are already lining up. Sources close to T.I. tell TMZ … T.I.’s 10-year contract with Atlantic ran up only a month ago … but he’s already put together his own idea of a $75 million deal: – 3 albums – 10-20 percent of publishing, touring, merchandise, film and TV rights – Corporate endorsement deals – Exclusive signing of all Grand Hustle artists (TMZ) Continue reading
That’s exciting, that’s really exciting that Tim, you know, wanted to come and get involved with SMS. Because now, he has ownership in the company. Equity ownership and he’s involved in it and it gives him the same incentive that I have with moving forward and being successful. We’re doing big things. We’ve got the CES [Consumer Electronics Show] convention coming up. We’re doing good, man. Continue reading
I’m not sure how much you Mogul’s really understand about this whole Tax Cut/Fiscal Cliff business. I know you tend to stay up on your game, but let’s be honest, some things don’t truly sink in until they take effect. My advice…is to learn what you can, find a trusted tax professional, and discuss your financial strategy for the coming year as soon as you know the deal. When it comes to tax codes, nothing beats having a experience and knowledge on your side. If that means spending a couple bucks on the front end to eliminate surprises…then do it. In the mean time, here’s a link to a brief article about the end of the Bush era Tax Cuts. It will give you some general insight and help you begin to individualize your understanding. Where you live, what you make, how you make it…all will effect your 2013 Tax Picture.
Looks like Nasir done got into a lil misunderstanding with a father & son promoting team.
A New Jersey father-and-son team of promoters held in Angola for 49 days after Nas failed to appear for a concert there last New Year’s Eve are suing the rapper for $10 million in Manhattan federal court. Nas later returned his $300,000 fee, but the blame fell on Patrick Allocco, 52, and Patrick Jr., 22, of Morris Plains, whose company eventually went bankrupt. Continue reading
Ya boy Dre Day aka Andre Young, has reportedly opened up a few businesses across the water to avoid coughing up those extra Mil Tickets in taxes, he otherwise would have to pay over here in the states..
Dre has reportedly opened three companies in an area known as Clonkailty, County Cork, in search of refuge. Continue reading
Young Money leader Lil Wayne is ready to start focusing on retirement and has even announced his final solo effort will be an upcoming Carter IV follow-up.
Check this CNN video out on how the wealthy hides almost $21 trillion to keep from paying taxes. I guess more money more problems.
In this episode of American Greed…
Case File: Pimp, Preacher, Profiteer
Once a preacher, Michael Lock was driven by a desire to get rich. Lock’s determination led him from the pulpit to the streets of Milwaukee’s thriving drug trade. The boy who used to preach on Sundays became a man with a cocaine business that would one day make $100,000 a week.Mortgage Fraud
Lock continued a life of crime and tried his hand at a highly lucrative game…mortgage fraud. He recruited credit worthy young women to act as straw buyers and created phony appraisals on rundown buildings. Lenders were duped into loaning hundreds of thousands of dollars for buildings worth far less.
A gruesome discovery revealed Lock’s real secrets were buried right in his own back yard. Two bodies were found at a home he once owned. As one team of investigators digs into the graves …another digs into Lock’s past.
American Greed takes you inside a deadly tale of greed
— A woman in the border city of Laredo, Texas who was angry because she had been denied food stamps killed herself and shot and critically wounded her two children late on Monday, authorities said on Tuesday.
The 38-year-old woman entered the Texas Health and Human Services Commission office in downtown Laredo on Monday afternoon and demanded to speak to a supervisor, said investigator Joe Baeza of the Laredo Police Department.
The woman, whom he declined to identify, pulled out a handgun and started walking through the office, threatening several employees, he said.
“She had issues and felt that she had been let down by social services in general,” Baeza told Reuters on Tuesday. “She was making all sorts of outlandish claims.”
She took an office supervisor hostage in a room in the office, he said, and a SWAT team managed to evacuate the other three dozen people in the office and clear the area.
After two hours of negotiations, the woman allowed the male supervisor to go free, but she remained in the office with her two children, a 10-year-old boy and a 12-year-old girl.
“About 11:45 last night, she hung up the phone with negotiators, and a little bit later, negotiators heard three shots,” Baeza said on Tuesday. “What had happened was that she had shot each of her children once and herself once.”
The children were airlifted to a hospital in San Antonio in extremely critical condition, he said. The mother was dead at the scene, he said.
Baeza said the woman, who was from Ohio, arrived in Laredo about eight months ago and had lived with her children in several locations around the border city of 236,000.
Stephanie Goodman, a spokeswoman for the Health and Human Services Commission, confirmed that the woman applied for food stamps in July and was denied. Goodman said the woman’s application was incomplete and that she was not sure whether the woman qualified for assistance.
“We’re still trying to track down exactly what happened with the case,” she told Reuters. “As you can probably imagine, I think she had a lot of other issues she was dealing with as well.”
Baeza credited the supervisor with remaining calm and allowing officers to evacuate the other employees and members of the public who were in the building.
He had been with the state agency for 24 years and had been a supervisor since 2000, Goodman said. She said the commission will provide counseling for its workers.
“They go into this profession because they really want to help people, so when something like this happens, it’s doubly traumatic for them,” she said.
She also said the commission will look at what it needs to do to ensure its offices are safe for staff and the public. She said there was an unarmed security guard on duty on Monday at the Laredo office, where Texans can go to apply for food stamps and other programs.
“This is the kind of thing you hear of happening in other places, but not in our quiet home town,” Baeza said.
Russell Simmons Co-Signs Irv Gotti for Def Jam Prez
We don’t know if Def Jam is actually taking Irv Gotti into consideration for president but since he went on MTV and spoke to Sway and lobbied for the spot, there’s been some mumblings about Irv and the position itself.
No I.D had to address the situation on radio and now Russell Simmons weighs in on who thinks is a fit for the job in a convo with XXL.
“I like Irv…I like [DJ] Khaled. I’d co-sign Chris Lighty. These three people, I’d co-sign any of them in a second…”
Irv and Chris make perfect sense to most of us. DJ Khaled on the other hand, is a stretch in my opinion. Not that my opinion matters but “The House That Russell Built” needs a little more experience than a few “We The Best” outbursts in an A&R meeting to get the sales back up.
I could be wrong though. Who do you think should be Def Jam’s next president?
Forbes magazine released its Forbes 400 list of America’s richest citizens, but no Hip Hop moguls managed to make the cut. Analyzing the race to become Hip Hop’s first billionaire, the publication predicts that Sean “Diddy” Combs will be the first to cross the billi mark with his current estimated net worth of $500 million.
The magazine explains that Diddy’s vodka deal with Diageo as an owner of Ciroc could increase his net worth. The Bad Boy honcho rakes in annual profits from the growing brand and could get a large payout if it’s sold. Additionally, his stakes in Sean John and Enyce as well as marketing firm Blue Flame and Bad Boy could put him ahead of Jay-Z as Hip Hop’s richest figure.
Birdman disagreed, proclaiming that Young Money Cash Money will earn an ninth zero before anyone else. “I think Young Money Cash Money would be the first billion-dollar brand in hip-hop,” he wrote in an email. “We strong and growing every day as a brand and fast. Within the next few years we will be billionaires.”
The Young Money boss almost did it again, refering back to 2008 when The Carter III sold a millli in it’s first week on the shelf. But Still not bad in a time where records are not selling like they used to.
According to final numbers from Nielsen SoundScan, the Young Money rapper’s ninth album will arrive at No. 1 on the Billboard 200, selling a whopping 964,000 copies in its opening week. While impressive, it wasn’t quite enough to top its predecessor Tha Carter III, which sold 1,005,545 when it debuted in June 2008.
That gives Weezy the second-highest first week sales of the year, displacing Jay-Z and Kanye West’s Watch the Throne, but still behind Lady Gaga’s Born This Way (1.1 million).
Tha Carter IV also broke the U.S. iTunes Store’s single-week album sales record by registering around 345,000 downloads, reports Billboard.
A thrilled Weezy thanked his fans for their support. “Wow!!!!!!!!!! I have the best fans in the universe! I thank u all. Hard work and dedication pays well. Young Mula baby!(weezy voice),” he tweeted.
Nicki Minaj joined the celebration, adding, “A million here, A million there…Congrats Weezy! YMCMB.”
What a Shaqtacular ride it was for 19 years
He treated the basketball world as his own personal playground, toggling between pop-culture celebrity and hoop icon. And now — Kazaam! — his career is off to that Big Rocking Chair in the sky.
We’ll miss Shaq, although he’s not really going anywhere. He’s not getting lost in the sunset. How could he? He can block out the sunset. He’s still 7-foot-1 and 350 (cough, cough) pounds with a personality wider than his sneaker. He won’t cash in his Blue Chips anytime soon. Shaq will continue to exist on TV, selling us products and doing shows and maybe someday becoming resurrected, Charles Barkley-style, as a loquacious commentator. But after making it official today, he threw down his last dunk and bricked his final free throw.
“We did it,” he video-tweeted. “Nineteen years, baby.”
I was lucky enough to be with Shaq when he first suited up, in a preseason game for Orlando against Miami, and when he finally suited down, on the bench for the Celtics last month, body ravaged and spirit damaged. Yes, it was 19 years, baby, of rollicking performances, four championships and then a painful-to-watch fade (aren’t they all) into mediocrity. Continue reading