Hot Celebs Uncovered

Last night in Chicago the gamers gathered at Plan B in Wicker Park for a good cause. Here’s the official description:

Since 2003, over 100,000 gamers worldwide have banded together through Child’s Play, a community based charity grown and nurtured from the game culture and industry. Over two million dollars in donations of toys, games, books and cash for sick kids in children’s hospitals across North America and the world have been collected since the inception of Child’s Play.

The FotoViewr team was in attendance, because FotoViewr loves the kids. The event was sponsored by Midway Games and Dawdle. we had a highly spirited Mortal Kombat vs. DC Universe tournament, a raffle and the most entertaining auction ever–led by Dawdle CEO Sachin Agarwal.

We’re not a celebrity gossip site, but we’ve got some pictures of mr. Agarwal that we think might interest you. Let’s take a look at the (de)evolution of Sachin Agarwal throughout the night:

Sachin looking professional and organizing the tournament.

Sachin leading the auction. The only time he didn’t have a drink nearby.

Here we are many drinks later.

The Money Shot.

Sachin Agarwal, ladies and gentlemen. CEO of Dawdle and the best MC ever.

We’d like to note that in spite of all the fun, mr. Agarwal worked very hard and raised a lot of money for the kids.
Thanks to Dawdle: The Gamer’s Online Marketplace.

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Child's Play Charity Event – the best CEO ever (with pics!)

“Sarah was absolutely ready to do it, but received calls from both Prince Andrew and a representative of the Royal Family, threatening to cut off all ties with her if she appeared.

Initially, she’d turned down the Celebrity Rehab offer, but when they sweetened the deal with an extra quarter of a million dollars, Sarah found it too enticing to reject.

Andrew laid down the law, ordering the mother of his children to end ALL negotiations immediately. In the end, Sarah decided the money just wasn’t worth all the trouble it was going to cause.”

Fergie Banned From Joining Celebrity Rehab

Bossip is reporting that the rapper Jay-Z owes Highland Capital Management LP $52 million dollars in loan guarantees, and that the Jigga man hasn’t been paying as expected. The loan was allegedly used to purchase property in Manhattan for a hotel.

Jay-Z has reportedly filed a complaint against Highland Capital, claiming that the company was seeking funds in excess of the amount owed. He has requested $3.7 million in compensation. Bossip is also reporting that Jay-Z was sued by his attorney last year for unpaid legal fees. it seems that everyone in this story has something to say, and I hardly expect that this means that Jay-Z is going broke. At the same time, things may not always be what they seem.

Here are some quick thoughts on the alleged financial problems of Jay-Z.

1) there is nothing all that uncommon about Jay-Z’s actions: Wealthy men and women set up small corporations regularly that get sued for non-payment or even go bankrupt. Donald Trump is notorious for it. The reason is that when you engage in any business venture, you should be incorporated so that your assets are protected from losses of the venture. I am sure that Jay-Z’s expensive lawyers set him up for all that good stuff.

2) It’s not inconceivable for a seemingly wealthy entertainer to have liquidity problems: Many rappers are stuck in the nasty trap of having to brag about how much money they make. When you do that, you are setting yourself up for embarrassment if the world finds out that you’re not rolling in the cheddar like you claimed you were. For those of us who are not rappers, I recommend slowing down on the status symbols, such as fancy cars, big spending or expensive clothes, since that stuff only makes you a target for people looking to borrow money. Eventually, the world thinks that you’re made of money, and feels disappointed when you hit hard financial times.

3) Remember Nicolas Cage and MC Hammer: Nicolas Cage seems to be in a blockbuster film every month. but he himself was in serious financial trouble with the IRS and had to sell several of his mansions around the world (the words “several” and “mansions” shouldn’t be in the same sentence, should they?). MC Hammer earned over $25 million dollars during the year he declared bankruptcy and still has not recovered from the financial devastation which occurred nearly 20 years ago. Making a lot of money doesn’t mean you can’t go broke, especially if you’re spending more than you make. The actor will Smith often discusses his bankruptcy 20 years ago, when he spent the money for his second album before it had even been released. my cousin T-Boz from the group TLC (yes, she is my cousin – she’s a Watkins too) did an interesting documentary about how she and the other women in her group were forced into bankruptcy, even though their first album sold millions of copies. It’s good that they “weren’t too proud to beg,” since they were on the verge of having to beg for money in spite of being the hottest musical artists in American that year. Americans are addicted to living beyond their means, and that includes both rich celebs and regular people.

4) There’s a difference between wealth and liquidity: Most businesses fail because of a lack of cash, not profitability. Many wealthy Americans own a lot of stuff, but they don’t have the cash necessary to maintain that stuff. Managing liquidity can be just as important as finding profitable investment opportunities. I presume that Jay-Z has enough liquidity to run his business ventures, but make no mistake about it: the liquidity needed to run his business is like the amount of water needed to operate a Water World amusement park. I hope his financial team is qualified, since it’s easy to believe that earning $35 million dollars in a year will instantly make all of your financial problems go away. but remember Michael Jackson’s crazy spending habits? The poor man needed over $10 million dollars a month just to keep up with outgoing cash.

I’m not sure if Jay-Z is broke or not, but I suspect that he’s going to be just fine. The truth, however, is that the stock market’s disappointing performance in 2008 and early 2009 wiped out a lot of wealth, and I expect that Jay-Z was not immune to that. Hopefully, he took the advice of Warren Buffet and invested heavily during the downturn. That was an opportunity to make some serious dough. Jay-Z is a smart brother and I am sure he will be OK.

Dr. Boyce Watkins is the founder of the Your Black World Coalition. to have Dr. Boyce commentary delivered to your email, please click here.

Is The Rapper Jay-Z Having Money Problems?

We all know that the social media bubble is at its peak, Facebook is one of the most successful social networking sites ever and it has got a vast pool of celebrities using it. since the sites launch it has grown to become a type of necessity in world culture. most people that use the site are very active users and they obsessively check there profiles every day as well as browsing their friend’s profiles.

Twitter on the other hand is a simple micro blogging site where users can update their status bars and allow their followers to hear their shouts. the site is relatively new, but has recently had a lot of media coverage due to the rise in celebrity stars using the service.

It is rumored that Facebook offered Twitter over five hundred million dollars in Facebook stock for the site, but Twitter turned it down. but could this end up being a serious mistake made at there end?

A lot of people (mainly Facebook users) do not really understand the need for a service such as Twitter, as Facebook has its own status update section. What is more intriguing though, is the news that Facebook have opened up there API for the status bar section. which is ultimately what in fact made Twitter the site that it currently is. There is currently a lot of talk about Facebook killing Twitter. So let’s take a quick glance at the reasons why Twitter may or may not last.

Social networking sites are just like search engines, one of the most important facts is how the site is built. Plenty of social networking sites do not stand the test of time simply because there technologies are not advanced enough.

An example of what I am trying to say is to turn our attention to Google. Google simply revolutionized the search with their technology. this is why over the past decade they have shrugged off any rival search engine and will continue to do so unless someone invents a better way of search. the site cannot be cloned or copied because it is just too advanced.

Ok social networking is not exactly the same, each site offers something different but it’s the same core principle, the reason that Facebook will be around for a long time is because it is very hard to duplicate and they have created a solid platform with a great business model in mind.

Twitter on the other hand has none of this, although the site is great for connecting with people in the same niche, it has got nothing to keep a user there. I see twitter as a passing phase in the networking industry. That come this time next year will be saturated with clones. Heck! we are already starting to see the clones popping up left right and centre, simply because the site is too easy to replicate, it just has not got too much thought behind it, one of the main reasons that Digg is losing popularity is because it has just become over saturated with copycats and people are just getting fed up. Have you ever seen a copycat of Google? a search engine that is able to deliver such accurate results? Twitter just saw what other people have done and (Facebook status bar) and increased it a notch, I don’t know if Facebook status bar will wipe Twitter out, but Twitter will probably end up picking there own fate, just as a lot of other social sites have such as Digg.

This is Why Facebook is Going to Wipe the Floor With Twitter