Dr Dre Donates $70 Million to USC

That's not a typo. Rapper Dr. Dre donated $70 million to USC to train "and inspire a new generation of innovators." Music industry executive Jimmy Iovine also pitched in a couple hundred million.

Both men donated to a program entitled the "USC Jimmy Iovine and Andre Young Academy for Arts, Technology and the Business of Innovation." The purpose of the program "is to shape the future by nurturing the talents, passions, leadership and risk-taking of uniquely qualified students who challenge conventional views of art and industry," according to USC.

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Add Mary J Blige's name to the long list of celebrities who blame their management for mismanaging their money. The aging R&B star is being sued by TD bank for a $250,000 loan that Mary and her foundation has neglected to pay back.

Blige's Foundation for the Advancement of Women Now (FFAWN) took out the loan back in June 2011. So far the foundation has paid back a mere $368.33, less than seven percent of the total loan.

The bank filed the suit this month to recoup the $250,000, plus late fees and costs.

It sounds like Mary used the foundation to take out a personal loan to pay her rumored mounting debts, and now she can't afford to pay the loan back. She needs a hit record.

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This is beyond ridiculous! I am not one to tell anyone how they should spend their finances, but $200,000 a month on a duplex when there are children starving in the world? Just because you have the means doesn't mean you should be reckless and wasteful with it.

According to online reports, Cruise and Holmes "fell in love" with a two-story penthouse apartment in Donald Trump's building on Park Avenue.

The duplex has a huge terrace, four bedrooms, six bathrooms, a den, a library, dining room and kitchen - and boasts 360 degree views of Manhattan.

Trump building boss Michael Cohen tells the New York Post, "She saw it and she loved it. They're very interested and are now making their decision." (Source)

At least they're not buying the penthouse so they won't be stuck with a home mortgage of $200,000-a-month. The penthouse is on the market for a staggering $45 million.

Young Jeezy is on the cover of VIBE magazine's August issue on stands now. Inside, Jeezy talks about sharing a hug with Republican presidential hopeful John McCain on Saturday Night Live:

No disrespect to my man Barack [Obama].... [McCain] greeted me like a G. … The fact that he acknowledged me was crazy. I said, ‘I’m Young Jeezy, and it’s rough out here.’ He blew me off at first. I was like, ‘Nah, for real. It’s rough out here, so what you gonna do to change it?’ ... I like Barack, but at the same time I wanted to see what McCain was talking about.

Jeezy said he asked McCain if he had any plans for the hood: 'You gotta fix it, you know that, right?' And he gave me a look back, like, 'I know.' "

Jeezy also opens up about his relationship with Keyshia Cole which ended on a sour note earlier this year when Keyshia dumped him for flamboyant ex-boxer Floyd Mayweather. Jeezy tells VIBE that Keyshia proposed to him and offered to buy the ring, but Jeezy turned her down.

There's no mention in the article of the fact that Jeezy paid cash for Keyshia's $750,000 Atlanta mansion or that he gave Keyshia the deed to the property. My source says Keyshia ultimately left Jeezy because Jeezy simply couldn't compete with Mayweather's substantial bankroll (after all, a girl has to eat).

In addition to that, my inside source tells me Mayweather dropped a cool $3 Mil on an Atlanta mansion for Keyshia and he also picked up the tab on Keyshia's swanky Buckhead condo (seen in her reality TV show).

All I can say is, it must be nice!

Quick, when was the last time our country was in a recession? If you don't know the answer to that question then the impending recession won't affect you so much. Analysts predict a recession looming on the horizon and the wrong people are worrying about it. The Chicken Little syndrome ("the sky is falling!") is in full effect because our people watch too much CNN. Folks who don't even know the definition of recession are talking about pulling their last $20 out of the bank.

The truth is the recession doesn't affect black people so much because, hell, we're always in a recession. What's the difference to us between a recession and just being black in a white man's world? Aren't we always the last hired and first fired? Aren't the words "laid off" as familiar to us as "chicken and waffles"? Don't we already get stuck with the highest interest rates on anything we buy? Are bankers lining up to give us loans?

The last recession was in 2001, albeit a mild one, but the point is most in the black community don't remember it. Last night a friend of mine said there hasn't been a recession in the last 28 years - and yes, he's black and educated.

Not to make light of a situation that has many white people nervous and checking their stocks every 5 minutes - but, do you own stocks? Do you own a plot of land that doesn't have a lien on it? Do you have over $5000 in the bank? Do you have at least one major credit card that isn't in the red? If you made the minimum payment on that credit card over the next 20 years would you pay the balance off?

If your answer to those questions are mostly no, then you have nothing to worry about. You'll be just fine.