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  • Financial Lovemaking: Man Shoots Boy for Sleeping with His Daughter

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    I have daughters and I love them all. They are all at “that age,” between 16 and 20, where they tend to love the boys that you want to beat down the most. Every time I hear them express their undying love for Lil Wayne, I can only think about him having 3 women pregnant at the same time. When I see a Chris Brown poster in their room, I remind them that Chris was accused of having boxing practice on Rihanna’s face.

    But as a father, you can’t protect your daughters from themselves. Some things they have to learn on their own. And if sleeping with a pants-saggin, “purple stuff dranking,” gold grill wearing, 10,000 tattoo having buffoon is the way they need to learn their lessons, you just kinda have to deal with it.I empathize with Wade Edwards, the man accused of shooting a boy for sleeping with his step daughter. Wade shot the boy four times, aiming for the “relevant zone” with each bullet. But while I can understand Wade’s anger, I do not, for one second, condone his actions.

    You see Wade, it takes two people to “get busy.” If your daughter was choosing to sleep with this boy, that was her bad decision, not yours. Sure, it was disrespectful for them to get naked under your roof, but fathers have been getting furious about this kind of thing since the beginning of time. Sex is a powerful drug, the essence of the existence of all mankind, so the urge of human attraction can be strong enough to lead to seemingly deviant behavior.

    The problem for Wade, however, is one that merges with the lessons we teach in Financial Lovemaking: Allowing your love for another person to cause you to do things that are going to be financially and emotionally devastating for your family. Wade might feel that he was somehow protecting his daughter (he claims that it was self defense, but I don’t buy that logic), but the truth is that he has now dragged his family into a draining legal drama that is going to cost them thousands in attorney’s fees and even more financial loses when one of the primary providers for the household has to spend his time in prison.

    Any father can relate to how Edwards might have been feeling. Also, every father has to wonder how far he would go to protect his children. I personally would give my life to save my daughters and not think twice about it. At the same time, I would not allow myself to go to prison to keep my daughters from having sex. Sexuality is a natural part of life, even when we feel that the person is too young to be doing it. Don’t pretend like you don’t know what I’m talking about; you probably did it too.

    The episode of Financial lovemaking is below. Enjoy!

    Dr. Boyce Watkins is a Finance Professor at Syracuse University and author of “Financial Lovemaking 101: Merging Assets with Your Partner in Ways that Feel Good.” To have Dr. Boyce commentary delivered to your email, please click here.

     

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  • Phillies’ Howard earns NLCS MVP honors (AP)

    Ryan Howard added another piece of hardware with three familiar letters to his trophy case. Howard was picked MVP of the NL championship series after helping the defending champion Philadelphia Phillies return to the World Series by beating the Los Angeles Dodgers 10-4 in Game 5 on Wednesday night. The big slugger already had the 2006 NL MVP and 2005 NL Rookie of the Year awards on his resume.

  • Phillies win second straight NL pennant (AP)

    Philadelphia Phillies manager Charlie Manuel waves after the Phillies beat the Los Angeles Dodgers 10-4 in Game 5 of the National League Championship baseball series to win the league title Thursday, Oct. 22, 2009, in Philadelphia.

    Ryan Howard and the defending champs are back in the World Series — proving last year was no fluke and looking even more dangerous this time around. Jayson Werth homered twice, Shane Victorino and Pedro Feliz also connected and the Philadelphia Phillies beat the Los Angeles Dodgers 10-4 in Game 5 on Wednesday night to win their second straight NL pennant.

  • Blazers, Aldridge near 5-year extension (AP)

    The Portland Trail Blazers are close to signing forward LaMarcus Aldridge to a contract extension, a person close to the situation told The Associated Press. The five-year deal is expected to be completed within the next two days, according to the person who spoke on condition of anonymity because the contract wasn't final.

  • Benson says Bears tried to blackball him (AP)

    FILE - In this Oct. 11, 2009 file photo, Cincinnati Bengals running back Cedric Benson(notes) carries the ball during an NFL football game against the Baltimore Ravens in Baltimore. When Benson was with the Chicago Bears they envisioned him emerging as one of the NFL's rushing leaders and taking his place alongside Gale Sayers and Walter Payton. A bust in Chicago, Benson is finally living up to the hype with the Bengals. Benson will face his former team Sunday, Oct. 18, in Cincinnati.

    Cedric Benson believes the Chicago Bears did all they could to prevent him from signing with another team. Released in June 2008 after two alcohol-related arrests, Benson will come face to face with his former team when the Cincinnati Bengals host the Bears on Sunday. Although he insisted he's not out for revenge and won't try to send a message, Benson clearly has some bad feelings for the…

  • Glee’s Amber Riley Says She’s "Not Fat Girl"

    Posted by: BlogXilla

    The resident diva in Mr. Schuester’s group of Gleeks, Amber steals the show with her big voice and bigger self-confidence. “Just be happy with who you are,” Amber says. “You’re not your dress size, you’re not your shoe size, you’re not your pants size. If I’m going to wear a name tag, it’s going to say ‘Amber Riley,’ not ‘Fat Girl’!”

    TO READ MORE, CLICK HERE

  • Author’s Guest List Dissed At The Door Of Book Signing

    Posted by: Wavey Willie

    Best-selling author Teri Woods says that back in August a Manhattan nightclub barred some would-be guests from attending her book-signing party. Now two of them have filed a racial bias suit against the club, and Woods says she is considering filing a separate lawsuit as well.

    Their attorney, John Nonnenmacher, told the Daily News that the two women were not the only black guests who were kept outside. He said white guests were let inside.

    TO READ MORE, CLICK HERE

  • Colts’ Sanders may make ’09 debut Sunday (AP)

    FILE -- This is an Aug. 3, 2009, file photo showing Indianapolis Colts defensive back Bob Sanders(notes) during the NFL team's football training camp in Terre Haute, Ind. Colts safety Bob Sanders is on track to make his season debut Sunday at St. Louis. The 2007 NFL defensive player of the year is expected to participate in most of Indianapolis' workouts this week. Coach Jim Caldwell said Wednesday, Oct. 21. 2009, the team hopes he can play against the Rams but the decision will be made later this week.

    Bob Sanders hopes to make his season debut Sunday at St. Louis. The 2007 NFL defensive player of the year, who has not played in a game since January, is expected to participate in most of the team's practice work this week. For the first time this season, Sanders was not listed on the team's injury report Wednesday.

  • Yeah, I Got It On Layway. What About It?

    The buy-now, pay-later mentality of credit cards has been a major factor in reckless and irresponsible consumer behavior. Replacing layaway plans with easy access to high-interest credit has had devastating consequences for lower- and middle-income families, and black people in particular. The public embarrassment of buying goods on layaway (an admission that you were too poor to just buy what you wanted outright), has been replaced with the private shame of crushing credit card debt.

  • Dwight Eubanks: Keeping Things Real Regarding ‘Housewives of Atlanta’

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    Dwight Eubanks: Keeping Things Real Regarding 'Housewvies of Atlanta'

    Make no mistake about it, no one behind the scenes is telling ‘Real Housewives of Atlanta’ star Dwight Eubanks what to do. The Atlanta native went from having a simple cameo as Nene Leakes’ scene-stealing “gay boyfriend” to becoming a main cast member on the second season of the hit Bravo reality television series.

    “I am not an actor. I was asked to come on and be a part of the show and to be real…I am not the sixth housewife,” Eubanks told the BV Newswire yesterday.

    “If I wanted to be with a woman, I will be with a woman and if I want to be with a guy, then I will be with a guy,” he declared. “I like all fruits, but I do have a problem with [people] dwelling on ‘Dwight the gay housewife.’ Let’s get to know Dwight.”.

    As of late, his no-holds-bar attitude has made his relationships with some of the ‘Housewives’ stars a bit tense.

    “I just don’t understand it,” he noted. “Some of the other people have problems with me being friends with the other women….girls harp on situations [like] ‘You said this,’ or ‘You did that’ versus saying ‘B****h, did you say this?’ and going directly to the source of the problem.”

    But, Eubanks isn’t holding it against them.

    “They perceive me as a b***h. I have nothing but love for all of them.”

    What many viewers of the successful Bravo television network franchise do not know is that the self-proclaimed style purveyor actually knew Sheree Whitfield and Lisa Wu Hartwell well before becoming fast friends with his close gal pal Leakes.

    “I knew Sheree and her husband Bob,” he revealed. “She had a store called Bella Azul [and] my partner at the time was doing Lisa’s hair and I knew of Lisa when she was going through her divorce situation [with Keith Sweat] but I didn’t really meet her until the show.”

    As for the show’s resident vixen, he adds, “I was really more friendly with Greg than Nene and we grew to be a part of each other’s lives and it grew to being what it was.”

    These days, the fashionable entrepreneur has grown incredibly fond of the newest ‘Housewives’ star, Grammy Award-winning singer/songwriter Kandi Burruss.

    “I met Kandi this year and never knew about Xscape,” Eubanks explained. “I like her as a person and her mother and I clicked and before I knew it I had dinner at their house.”

    Now, the unlikely pair do dinner together, often, and according to the former Saks Fifth Avenue style director, they have become a sort of adopted family.

    Until now, little has been known about the man that is Dwight Eubanks. Recently he’s been a little more open about his past – telling Essence.com that his minister parents beat him for playing with his sister’s dolls, until his grandmother helped them accept him for who he is. Born at Grady Hospital and raised on Atlanta’s Southside area, Eubanks credits his godfather with nurturing his love for hair by allowing a young Dwight to apprentice in his salon.

    As for his feelings on the show as a whole? “The reality show is what it is. We don’t have to agree. They have gone through a whole season disagreeing. And agreeing is not reality. I like to move on.” There are talks that Eubanks may soon have his very own television show, but until then he’s happy doing what he’s been doing for the past 21 years.

    “Reality television don’t pay no money. I had this life before [‘Housewives’] came on and I have four [mortgage] notes to pay – that’s a lot and I haven’t ventured off to doing any new ventures lately,” he declared.

    He doesn’t know how they will figure out what to do for a show of his own, adding, “most days I don’t know what to do with myself. I know I am a lot.”

    Off-camera, you can catch him at one of his two successful Purple Door Atlanta salons. “I still do hair every day and I enjoy being at the shampoo bowls. I like doing everything that I do. This is why I choose this profession.”

     

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  • Stop Snoring Device That Only FEW People Know Which Help You Quit Snoring With Ease

    There are lots of specially made dental appliances you can use when you are trying to stop snoring. Referred to as mandibular advancement splints, they cause your lower jaw to protrude slightly and pull your tongue forward. In this way, without the tongue…

  • Down But Not Out

    If you find yourself in need, or someone you know is in need of home, career, or health assistance, check out this roundup of low-cost and free programs that could be your lifeline.

  • When He Won’t Take “No!” for an Answer


    No! is a complete sentence and easy enough that anyone should understand its meaning. Yet when told no by a female, most men’s response is not “okay” but instead “well, why not?” or “how come you said no?” or “you don’t mean it!” or “but you’ll like it if you try it.” Such questions put females on the defensive and are nothing but denials of a woman’s right to say NO! and be taken seriously.

  • FedEx May Be Sued for Labor Violations by Three States

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    I think of FedEx as an employee-friendly company. For example, the entire company closes on Christmas to ensure that all employees can enjoy the holiday. Thus, it was surprising to learn that FedEx may be sued by the three states of New York, Montanta and New Jersey for intentionally denying 1,000 contractors the benefits they should receive as full employees. I guess they only commit (alleged) labor violations against non-employees.

    Reuters reports: “Three U.S. states said on Tuesday they plan to sue FedEx Corp, accusing the second-largest U.S. package delivery company of violating labor laws by illegally classifying drivers as independent contractors rather than employees to save money.”

    Now to be fair, FedEx claims their contractors operate more like the owners of a franchise, who use the FedEx brand, but in essence operate their own small businesses, so there are no labor violations. In fact, FedEx released a statement promising to “vigorously defend the right of FedEx Ground independent contractors to own and operate their businesses.” So why may FedEx being getting sued? By not one but THREE states?

    FedEx does not give contractors benefits like worker’s compensation protection, but still charges them high fees to use its equipment. This would be fine, except that the company strictly manages drivers with detailed rules regarding hours and uniforms, among other areas. Honestly, something in the milk ain’t clean. It’s clear that FedEx is in fact controlling these drivers like full-time employees, while making them take on the risk and expenses of an owner. I hope FedEx goes down on this one.

    The three states of New York, Montanta and New Jersey have given FedEx until October 27 to prove that these allegations are false. Then the law suit against FedEx will proceed, hopefully empowering these workers to receive fair compensation for their labor.

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    http://www.aolcdn.com/ke/media_gallery/v1/ke_media_gallery_wrapper.swf
    Gotcha Moments of Retail Shame
    Store: Midas
    Accusation:California filed a $222 million lawsuit against the owner of 22 Midas Muffler shops after uncover agents discovered in which consumers were charged for unneeded repairs, California Attorney General Edmund G. Brown Jr. announced. Click through to see more stores that got caught cheating.
    jupiterimages
    Touchstone Pictures

    Gotcha Moments of Retail Shame

      Store: Midas
      Accusation:California filed a $222 million lawsuit against the owner of 22 Midas Muffler shops after uncover agents discovered in which consumers were charged for unneeded repairs, California Attorney General Edmund G. Brown Jr. announced. Click through to see more stores that got caught cheating.

      Store: CVS
      Accusation:California caught the chain with expired merchandise on the shelf. The result? CVS must give $2 coupons to anyone finding more expired items. This isn’t the first store caught doing something shady (or even the first time CVS was caught doing the same thing). See more Gotcha Moments by clicking through.

      Store: Kmart
      Accusation:Marketed paper products as biodegradable that aren’t actually biodegradable. The result? Kmart settled the case with the Federal Trade commission. This isn’t the first time KMart was caught.

      AFP/Getty Images

      KMart’s Previous Gotcha:Kmart, Ashley, and World Market< were accused of deceptive furniture labeling — wood that wasn”t wood and leather that wasn”t leather — in an on-camera investigation by Good Morning America The result? Kmart said full product descriptions were available online, Ashley defended its wording as a description of color only, and World Market acknowledged that a quarter of its supposedly leather chairs were actually synthetic, and it pulled them from sale.

      Sears Holdings Management Corp., the parent company of Sears and Kmart, settled a case to stop enticing customers to sign up for a software that spies on them. It must also instruct customers how to uninstall the software that monitored their spending across the web, even on sites that are supposed to be secure, and destroy the data that was collected. The Federal Trade Commission brought the case against the Sears Holdings.

      Quizno’s Sub Shop has an online video ad showing two girls simulating a porn video by sharing a sub sandwich. The online ad, “2 Girls, 1 Sub,” takes its name from a notoriously heinous movie trailer, for a fetish film, which shows women eating their own feces. Critics have pointed out that the Quiznos video, starring Playboy Playmate Hiromi Oshima, is basically comparing the sandwiches to “poop.”
      This is Quizno’s second porn-themed ad to come out in recent months.

      If you are dining out — and many of us still are these days, despite the economy — make sure to check your bill carefully for extra charges that might creep on there.
      Call it the airline a la carte approach, as many restaurants are apparently sneaking in charges for bread, tap water, takeout boxes and mandatory tips. The New York Post found all of these items added to bills on an investigative mission that the paper undertook recently.

      For more on advertisers caught misleading consumers, click through our gallery of Gotcha Moments of Retail Shame.

      Blockbuster was found guilty of charging customers higher than the advertised prices on scanned items by district attorneys of Los Angeles and San Diego counties. Blockbuster owes $237,750 in penalties, and $62,250 in costs, and is further prohibited from charging amounts greater than the advertised price.

      A regulatory organization for the advertising industry demanded that Wrigley change its misleading packaging and advertising for Eclipse gum. The ads for Eclipse say that the gum’s natural ingredient – magnolia bark extract – kills germs that cause bad breath. This has not been proven and the National Advertising Division Council of Better Business Bureaus asks that Wrigley clarify this in its ads.

      Store:Chase Bank

      Accusation: In late March, the bank rescinded a $10 monthly fee it had imposed for several months on hundreds of thousands of credit card accounts, after New York’s attorney general decried the practice as a bait-and-switch for customers seeking low interest rates.

      Results:The settlement could save customers $22 million over the next year.

      Amy Sancetta, AP

     

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  • NeNe Leakes Feels Misunderstood…

    Posted by: straightfromthea.com

    NeNe Leakes ~ Alter Ego by D. Blanks

    NeNe Leakes says shes pissed off about Bravo’s portrayal of her during the 2nd season of the hit series The Real Housewives of Atlanta and she’s not taking it anymore! Leakes, who is shown during the final episode arguing with fellow castmates Kandi Burruss and allegedly choking Kim Zolciak says it’s not fair that she’s being made out the be the villain…

     

    TO READ MORE, CLICK HERE

     

     

  • popwife: ‘Balloon Boy’ vomits on Destiny’s Child

    Posted by: TashaJC

    This was just too hilarious to pass up. Destiny’s Child and Balloon Boy. Together.

     

  • An App a Day

    Here are seven noteworthy applications you may want to phone a friend about.

  • Content on Demand: Steve Harvey Teams Up With State Farm for Comedy Shorts

    Filed under: ,

    Steve Harvey Teams Up With State Farm

    To further expand the advancement of his media empire, Steve Harvey is teaming up with insurance giant State Farm for a series of 48 digital comedy shorts. Each short will cover various topics appealing strictly to the interest of car and home insurance consumers. And what better time to embark on his new campaign than during this week’s National Teen Driver Safety Week. Harvey takes a humorous approach at his teen’s desire for purchasing a new Cadillac Escalade.

    steve harvey“The campaign’s basic idea was to extend the Steve Harvey and State Farm brands in an unexpected yet wanted manner,” said Bob Wingo, CEO of Sanders/Wingo, the African-American advertising agency of record, which created and produced the campaign. “Everyone wants to be in social media and utilizing digital content, but to be successful as we believe this will be, it needs to be relevant.”

    “These bits are strictly entertaining,” said State Farm marketing chief Pam El. “Though they address insurance and financial services related topics, to broaden Stat Farm’s brand voice in an unexpected way, they are delivered with Steve’s unique perspective and humor.”

    You can check out Steve Harvey’s first digital comedy short here.

     

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  • A-Rod, CC lead Yanks to brink of pennant (AP)

    Los Angeles Angels' Vladimir Guerrero(notes) is seen in the dugout during the ninth inning of Game 4 of the American League Championship baseball series against the New York Yankees Tuesday, Oct. 20, 2009, in Anaheim, Calif. The Yankees won 10-1.

    Alex Rodriguez limited the celebration of his latest playoff homer to a brisk trot and a few high-fives. CC Sabathia barely even pumped a fist while mowing down the Angels for eight innings. Even while they shined at a pivotal point in the AL championship series, the slugger and the workhorse starter seemed determined to stick to business.

  • Bears, Cutler agree on 2-year extension (AP)

    The Chicago Bears and quarterback Jay Cutler have agreed on a two-year contract extension that runs through the 2013 season. A person familiar with the negotiations said the deal includes approximately $20 million guaranteed and roughly $30 million in new money. The person spoke on the condition of anonymity because the terms were not released.

  • Bobcats G Bell has torn wrist ligament (AP)

    Charlotte Bobcats starting shooting guard Raja Bell has a partially torn ligament in his left wrist and will soon decide whether to have surgery which would sideline him up to four months. The severity of Bell's injury, announced after he sat out Charlotte's 94-87 exhibition win over Milwaukee on Tuesday, is a major blow for the Bobcats, who could be without their best defensive player and…

  • The Neuro Science Of Losing The Weight You Hate

    . People spend over 40 billion dollar a year on every magic potion or pill that they think will help them lose the weight they hate. Unfortunately, 95 percent gain back all the weight only to once again look for the next hot new diet. John Assaraf, one of…

  • Refs could be back for regular season (AP)

    The NBA's locked-out referees could be back on the floor in time for the regular season. The league has made a new proposal, and a person familiar with the negotiations told The Associated Press it will be recommended for approval to the referees on Friday. The person, who requested anonymity because the negotiations are ongoing, said it's "highly likely" they'll be on the…

  • Zorn: ‘Skins to start Campbell vs Eagles (AP)

    Jason Campbell will remain the Washington Redskins starting quarterback. Coach Jim Zorn said Tuesday on his ESPN980 radio show that he will stick with Campbell for Monday night's game against the Philadelphia Eagles. Campbell was benched at halftime of Sunday's 14-6 loss to the Kansas City Chiefs.

  • Battle Of The Swag!!

    Posted by: Teyana Taylor

    SOME FUNNY SH**… I CAME ACROSS ON YOUTUBE LOL

  • Dodgers, GM Colletti agree on extension (AP)

    Ned Colletti agreed to a long-term extension Tuesday to stay on as general manager of the Los Angeles Dodgers. Under him, the team has reached the postseason in three of his four seasons, the first time a Dodgers GM has accomplished that feat. Colletti joins New York's Brian Cashman and Boston's Theo Epstein in doing so among active GMs.

  • Lee Naijar: ‘Real Housewives’ Mysterious "Big Poppa" Reportedly Selling Atlanta Mansion

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    Real HousewivesThe palatial Atlanta mansion of Lee Najjar, the alleged boyfriend of ‘Real Housewives of Atlanta’ star Kim Zolciak, is on the market for $25 million.

    BV Newswire previously reported that Zolciak and her on-again-off-again wealthy boyfriend (pictured left with music/film producer Dallas Austin) had split. The hit Bravo reality series has recently centered on the couple’s relationship despite Najjar being legally married.

    His children, Katelin and Jamen, were featured on the MTV series ‘Teen Cribs’ earlier this year, where they let MTV cameras in on their luxurious digs. Earlier this year, portions of the film ‘Zombieland‘ were reportedly shot on-location at Najjar’s home.

    According to Buckhead.net, the home, which was built as a summer cottage in 1914, sold in 2004 for $2.74 million.

    Rodney Ho, of the Atlanta Journal-Constitution newspaper’s Radio and TV Talk blog, reports that the home is being marketed through Christie’s and other high-end magazines to attract a foreign buyer. The nine-bedroom estate, which boasts a movie theater, music studio, beauty salon, game room, basketball court and countless other amenities, would be the first home to sell in the Atlanta secondary market for more than $10 million.

    As for his relationship with Zolciak, although the mother of two told Usmagazine.com that they had split on Oct. 14. She went on to tell other media: “We are on and off…very tricky right now.”

    The ‘Tardy for the Party’ singer has also been recently spotted wearing the engagement ring that the real estate mogul gave her — on her right hand.

    There is no word on whether Najjar and his wife – whose name is coincidentally Kimberly – are still married.

     

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  • Revolution Money: Would You Use the New Revolution Money Card?

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    Revolution Money is a relatively new money exchange system and credit card network. Having recently expanded its reach by partnering with Fifth Third Bank as an issuing agent for its cards, Revolution Money also just raised $42 million through Goldman Sachs in April. People in the business community must really believe Revolution Money is something very special. With a sea of credit and debit cards available to consumers and merchants, what makes Revolution Money and it’s card offering different?

    Well for one thing, the card physically looks and technically functions like nothing else on the market. Paymentsnews.com explains:

    Originally positioned to appeal to the extremely security conscious market segment, all transactions are PIN-based, riding over the debit networks’ rails using a proprietary BIN range (PINs for ecommerce transactions are entered in the CVC2/CVV2 field). Cards are not embossed, and do not have the cardholder name printed on the card or encoded on the mag-stripe. In addition, the number printed on the card is different than the number encoded on the mag-stripe, adding some level of additional risk management.

    Financial protection is definitely a plus during these uncertain times. In addition, Revolution Money offers an innovative and extra-secure way of sending money online called Revolution Money Exchange, which touts itself as a viable alternative to both checks and cash. Revolution Money is definitely leading on the bleeding edge in terms of offering consumers new ways to safely spend.

    But what does Revolution Money offer the business owner? Uniquely, the Revolution Money system is set up to reward merchants with points for encouraging customers to use the Revolution card, while suggesting that merchants pass those rewards on to their customers. This then promotes the loyalty of customers to the specific merchants offering the rewards, rather than the card. Businesses of various kinds can surely see the potential in this type of “revolutionary” arrangement with a credit card company. Usually, merchants lose money on credit card deals and the card issuer retains all the loyalty based on rewards. The Revolution Money system reverses all that.

    Should Revolution Money and Revolution Money Exchange turn the purchasing world on it’s head? Will the Revolution Money card become a preferred method for payment for consumers and merchants alike? Can Revolution Money Exchange really overtake the ubiquity of PayPal? Only time will tell. But as this recent partnership between Revolution Money and Fifth Third Bank shows, this company is taking no prisoners on its rampage path of growth.

     

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  • Shunned Illinois Senator Suddenly Relevant

    For Democrats determined to get a health care bill, Sen. Roland Burris is like the house guest who couldn’t be refused, won’t soon be leaving and poses a plausible threat of ruining holiday dinner. Suddenly, he can no longer be ignored.

  • Dr. Boyce Money: Rapper Nas in Serious Tax Trouble

    Filed under: , ,

    Hip Hop Wired is reporting that the rapper Nas is having some serious financial problems. In addition to owing his wife Kelis $44,000 per month in child support, it turns out that the artist also owes the federal government another $2.5 million in taxes. Here are quick thoughts about Nas, love and money:

    1) Nas has a complicated life. His decision to marry the “love of his life” is going to cost him for the rest of his life. The rapper’s tax situation could be due to irresponsibility (as appears to be the case with Method Man and Nicolas Cage), or it could simply be a matter of using write-offs that were not allowed by the IRS. We can’t assume that Nas’ tax trouble automatically makes him into a horrible citizen.

    2) He is not as rich as you think. I remember Will Smith once explaining how “a million dollars really isn’t that much money.” After Uncle Sam takes half, and the agents and attorneys get their cut, you are lucky to have $350,000 left over. Sure, that’s plenty of money, but it may not be very much money relative to the cost of living the celebrity lifestyle, and taking care of all the friends and relatives begging you for financial support. Success is a beautiful thing, but the problem is that success draws attention and financial vacuum cleaners who want to suck you dry. So, I am not sure why every artist loves to show the world how rich he is. I’d be quiet about my wealth.

    3) Please explain $44,000 per month in child support? Many men who make the kind of money that Nas allegedly makes (reported to be $250,000 per month) are considered to have infinite wealth. The truth, however, is that much of his income as an artist is volatile, uncertain, and likely to go down over time. The idea that he is being asked to pay so much in child support seems to neglect the fact that his resources do not go as far as Kelis and others might be inclined to think. The next time someone wonders why wealthy celebs don’t want to get married, they only need to look at the case of Nas and Kelis to find the answer. Love is supposed to be priceless, but child support courts seem to know exactly what that price should be.

    When it comes to Nas, Kelis and the IRS, the bottom line is this: Nas needs a financial intervention to help him to realistically manage his financial life. By analyzing his situation and others, we also can learn how our personal decisions in love and life can affect our financial situation. The truth is that who you choose to marry and how you manage your relationships plays a huge role in your financial stability. Finally, I am a fan of carefully constructed prenuptial agreements, so that wealth can be shared in such a way that marriage doesn’t become financially devastating. They say love and money shouldn’t mix, but relationship mistakes should not cost millions.

    Dr. Boyce Watkins is a Finance Professor at Syracuse University and author of the book, “Financial Lovemaking 101: Merging Assets with Your Partner in Ways that Feel Good.” To have Dr. Boyce commentary delivered to your email, please click here.

     

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