January 1. 2009

Jay-Z and Beyonce

I stated several months ago that Jay-Z was headed for financial difficulties. He spends money like it’s water and relies on stealing everyone’s copyrights to fund his lavish lifestyle. Coupled with his rigged record sales, that drastically plunge in the first weeks after their release, he has created a financial mess. He wasn't a good businessman to begin with.  

Def Jam gave him the boot last year, but he made it out to be a case of him quitting. He brought so much trouble on the label with his lack of intelligence and crooked business dealings that it became the source of a lot of infighting and acrimony.

His fellow song and movie thief, Beyonce, better watch her bank accounts, as with her sales falling and his tastes still high, he will spend it all on women, cars, clothes and drugs.

This week his so-called hotel venture fell through with banks not willing to lend him the additional money to finish the project he's already spent $66 million dollars on. This is the most recent in a string of financial failures and firings affecting Jay-Z. You reap what you sow.

In other news, the entourage of a rival rapper beat up his producer Ne-yo and one of Jay-Z's closest friends. Jay-Z has now beefed up security. 

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Jay-Z's Club Threats

BRITISH PAPER CLAIMS THAT BEYONCE RECEIVED 'LESS BLING IN HER CHRISTMAS STOCKING' … SUGGESTS JAY Z IS IN TROUBLE!!!

December 31, 2008. Yesterday MediaTakeOut.com reported that Jay Z and his business partners were having trouble coming up with the cash to finance a real estate venture. It appears the British press caught on to the same thing.

Here’s the Daily Mirror’s take on what’s going on with Jay Z:

Beyonce may have found a little less bling than usual in her Christmas stocking this year.

Hubby Jay-Z, who once topped the hip-hop rich list, has seen his plans to develop a luxury hotel become the latest victim of the credit crunch.

The Big Pimpin' rapper, 39, ploughed $66million (£45.5m) into a plot of land in New York's West Side for his J Hotels venture.

But he has failed to pull in any investors, resulting in a $370million (£255m) shortfall in his plans.

We're not sure what to say. But where there's smoke ... there's usually FIRE!!!

http://www.mediatakeout.com

FINANCIAL TROUBLE???? JAY Z'S REAL ESTATE COMPANY IS UNABLE TO GET A LOAN … INSIDERS ARE BEGINNING TO TALK!!!

December 30, 2008. Could Jay Z be facing some financial pressure? MediaTakeOut.com got a hold of some information that suggests he may not be as financially set as many seem to believe.

You see last year, Jay-Z invested in a real estate development venture called J Hotels which acquired a $66 million mid-block parcel in New York and set out to build a high-end hotel.

But MediaTakeOut.com just learned that the project has stalled – and its future is uncertain. One of Jay-Z's partners, Charles Blaichman, recently revealed to The New York Times that they have been seeking up to $370 million from various banks to begin construction but have had no luck. He said, "A year ago it would have seemed a reasonable amount. Not now … Even the banks who want to give us money can't."

And there’s more. MediaTakeOut.com spoke with one highly influential entertainment insider who questioned whether Jay Z’s financial situation is as strong as is being reported on many of the FORBES lists.

The insider, who spoke to MediaTakeOut.com on the condition of anonymity, explained, “Jay Z and Damon Dash owned everything 50-50 – Rocawear, Rocafella, everything … when they separated, everything was split in half. Now 3 years later Dame is broke and Jay Z’s worth 500 million, that just doesn’t make sense.”

… I’m not saying that Jay Z’s broke, but I can tell you one thing – he has nowhere near the amount of money that those magazines are saying he does."

UH OHHHHH ...

http://www.mediatakeout.com

Jay-Z's Hotel Plans Fall Flat

At the beginning of this year, we saw the announcement of J Hotels, the first hotel from rapper Jay-Z to be located in New York City. Now as the year ends we learn that the J Hotel is not to be.

The NY Times reveals that developer Charles Blaichman, who was behind Soho House, cannot secure financing for the hotel.

Blaichman is now trying to rent the former Time Warner Cable warehouse after failing to raise $370 million for three luxury hotels…

http://www.luxist.com