BET Money Ain’t Sure Money?

Word on the curb is BET co-founder and the country’s first black billionaire might need to get Cash4Gold on the horn, STAT.

Sources say Michael Jordan’s purchase of Johnson’s Charlotte Bobcats team is a sign that Johnson’s money is funny. These sources say Johnson is in desperate need of cash. The sale of his NBA team was reportedly sparked by a need for liquidity to fund his other investments. One person close to the situation says Johnson “put up a lot of cash and he’s nearly lost it all.”

Johnson’s fortune was estimated at $400 million but a huge part of that went to his ex-wife, and BET co-founder, Sheila. (Sidebar: Ya’ll know she's now married to the judge who handled their divorce, right? Gangsta move.)

Anyway, Johnson is involved in a number of businesses that require upfront cash (no CODs up in this piece), like hotels and whatnot. So he needs a serious cashflow to stay afloat.

Damn.

Source

Brew Money: I Got $5 On It....

Every time I turn on the television or open up a newspaper, I have to read about the jacked up plight of black women. The Pittsburgh Post Gazette reported on a study which found that the median income for single black women is...drum roll..$5! That's right...*singing* "five...five dollar...five dollar footlong"! Opps, scratch that footlong part because I almost forget, aside from being broke, we apparently don't have menzes either!

among the most startling revelations in the wealth data is that while single white women in the prime of their working years (ages 36 to 49) have a median wealth of $42,600 (still only 61 percent of their single white male counterparts), the median wealth for single black women is only $5


Researchers are calling the findings shocking. Discuss...

50 Cent Talks Money & Business

I really want to NOT like this guy, but when he starts talking dollars and actually making sense, I kinda have a soft spot for him. For a second...

Anyway, learn a little bit from Bugsy.



If you wanna learn how to be more like Curtis, cop his new book "The 50th Law."

Brew’Voyage: JetBlue Deal

I value your money as much as I do mine. (See how much we love you at the Brew?) So, I figured I'd pass along this little recession-friendly tidbit. JetBlue is offering an "all-you-can-jet" pass for $599 that lets travelers book an unlimited number of flights in a one-month period. This is better than the all-you-can-eat Sizzler!

The deal includes all of JetBlue's 56 destinations. You must travel between September 8 and October 8. There are no seat limitations or blackout dates either and taxes/fees are includes for domestic flights. Grant it, JetBlue is a relatively inexpensive airline anyway, but if you've got lots of travel to do, this is may be a sweet deal for you.

Hurry though. You've got to buy the pass by August 21^st.

Happy travels! (Feel free to take me along...I'm just sayin')

The Economy Needs Jesus

Pope Benedict XVI is calling on White Jesus to save the slumping economy. Bennie wants to form a "world political authority" to help keep the global economy on track and prevent future recessions. He's written a new encyclical called "Charity in Truth" that rejects capitalism and abuse of the global economic system.

The pope says every economic decision has a moral consequence. He wants to see wealth redistributed to help the poor. [Uh, didn't Jesus already say that?]

The idea isn't sitting well with economists and even some Catholics who think the church should butt out. But, the pope says he ain't feeling this free market too much. He says people with poor moral character have really screwed up this economy [okay, maybe he didn't say screwed, but you get it], so the economy needs some protectin'.

The pope is set to meet with President Obama at the Vatican on Friday. We hear the White House planned to give the pope a gold-plated antique Archbishop Don Magic Juan chalice but Obama will give him a stole instead. Good move Mr. Prez. Don't wanna flaunt ya riches in front of the pope, you know, while he's wearing those Prada shoes and all.

The Economy Made Me Do It

We told you about Tyra’s firing of fellow supermodel Paulina Porizkova, well it turns out you can blame that firing on the e-e-e-economy.

The show's executive producers have released a statement saying Porizkova was let go because of "the current state of the economy [which] has forced shows to make major budget cuts industry wide." The show’s producers say they enjoyed working with Paulina though.

Hmmm. First Kimora, then Janice, then Twiggy, then Paulina…lest we forget Nole too? We don’t believe you Tyra, you need more people.

Recession Affecting White Jesus Too

This economy is a mofo. First the Fat Boys break up, now every day I wake up… oh wait, that’s Jay-Z. Anyway, Atlanta’s Bishop Eddie Long has been forced to scale back his elaborate annual Easter Celebration. This year marks the first time in 15 years that Long’s New Birth Missionary Baptist Church won’t hold Easter service in the Georgia Dome.

The Easter celebration usually draws some 40,000 people to the Dome. But not this year. Trust me, two years ago, I watched this thing on TV and was mesmerized for hours, much like watching that screaming pastor on BET.

Long says church revenues are off by 20%. So this Sunday's service will not be the usual $200,000 production he’s used to conducting. Instead, the Bishop will hold three services in his 10,000 seat church outside Atlanta. His message: “Vision in Hard Times.”

I’d say so.

Money Troubles For Stila?

Lawdamercy… say it ain’t so! The buzz on these Internetz is beauty line, Stila, is having money troubles! The initial word was the beauty maker had gone bankrupt. But the company shot that down, saying instead, they are reassessing their ducats.

The website is down for maintenance but orders placed in late March may not even be delivered. Sounds ominous to me.

If this company folds, where will I get my moisturizer? Who will gloss my lips? And don’t even get me started on the sport lip balm. Oh, the horror!

Get Your Shine On...While You Can

Come and get you some diamonds! The Zales jewelry chain is saying ‘so long’ to 115 of its poor performers. The stores will close over the next 16 months. That means, 245 people will lose their jobs. Zales has reported a 20% drop in sales. The cuts will save the jeweler about $34 million. No word on what stores will be shut down…but a cheap diamond is better than no diamond at all. Ladies, get your right hands ready!

I Like The Barrrrrtender

In these tough economic times, more people are hitting the bar. Not just for a few dranks though… for some tips! MSNBC reports the art of slanging drinks is booming these days.
Bartenders can make $15 - $30 an hour behind the bar. Enrolling in bartending courses though is no chump change if you’ve been laid off. You’ll need to pull together about $600 for the courses and devote a couple weeks to the training. Bartending schools in Tennessee are reporting a 2-week waiting period just to sign up. Of course, while you're waiting to enroll, you could always throw a rent party and charge people for the red cups.

Beyond Bling in the Age of Obama

CNBC is going beyond the bling of the Black community and putting the spotlight on what it calls "NEWBOs," or the new Black Overclass.

Wall Street Journal reporter and CNBC Contributor, Lee Hawkins, will host “Newbos: The Rise of America’s New Black Overclass." Hawkins' new book, of the same title, will be released this summer.

The one-hour documentary focuses on self-made Black millionaires in entertainment, sports and media. While there are only 2 African-American billionaires (can you name them?), we are currently in the age of the largest population of Black millionaires in history. Many of the millionaires in the CNBC special struck it rich before the age of 40.

Among those profiled in the one hour documentary:
LeBron James
Terrell Owens
Cash Money's Williams Brothers (don't laugh)
Bob Johnson

...I sure hope there are some women profiled!?!

Hawkins hopes the show will start a debate about what level of social responsibility Black celebrities should take in the era of Obama.

Catch the show this Thursday, February 26th at 9 pm (ET).

Can't wait? Here's a preview.

I'm wrong for that T.O. pic...and I know it.