Business

Business, Features - Thursday, December 11, 2008 8:21 - 3 Comments

Business To Business: Mark Pitts

Read the full conversation between Mark Pitts, President of Black Music, Zomba Label Group and L. Londell McMillan after the jump.

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Business - Friday, November 21, 2008 12:47 - 22 Comments

‘08 Bonnie Clyde, Hov And B

Talk about a power couple. Beyonce and Jay-Z top the Forbes list of Hollywood’s top-earning celebrity couples, together earning $162 million between June 2007 and June 2008.

Hip-Hop’s royal couple raked in on almost twice as much as the number two couple, another Hip-Hop favorite, Will Smith and Jada Pinkett-Smith, who earned a combined $85 million.

Beyon-Jay beat out superstar couples David and Victoria Beckham and Tom Cruise and Katie Holmes.

Between Beyonce’s endorsement deals and her own House of Dereon and Jay’s 10-year, $150 million contract with Live Nation, it’s hard to say just who “upgraded” who.

Business - Monday, November 10, 2008 11:50 - 15 Comments

Ballin On A Budget

We’re still puzzled by the fact that Louis Vuitton sales are up during this tough economic time. Now for some business news that makes sense -

Sales are up for McDonald’s both in the US and worldwide thanks to in large part to the success of their Dollar Menu.

Budget clothing chain Forever 21 also appears to be doing well. The company is closing a deal to open its first UK store in London and a 24,000-square-foot flagship store in Houston.

Business, Technology - Thursday, October 23, 2008 8:54 - 12 Comments

Economy Doesn’t Hurt iPhone Sales

In the midst of an economic crisis, you’ve got to wonder, who’s buying all the iPhones?

Apple reported Tuesday that sales are up 26% from this time last year. While the growth was lead by iPhone sales, Apple also reports increases in computer and iPod sales.

In a company statement Apple CEO Steve Jobs said, “We don’t yet know how this economic downturn will affect Apple. But we’re armed with the strongest product line in our history, the most talented employees and the best customers in our industry. And $25 billion of cash safely in the bank with zero debt.”

Business - Tuesday, October 21, 2008 16:39 - 16 Comments

Diddy Buys Enyce

Diddy’s Sean John company purchased Enyce for $20 million - less than a fifth of what the company was sold for in 2003 when Liz Claiborne snatched the urban brand up.

No word on what Diddy, a longtime fan of the Enyce brand, plans to do with the label.

Business - Friday, October 10, 2008 9:23 - 5 Comments

What Economic Crisis?

The economy is in the pooper. The entire country is on edge as our nation’s future will be decided in just 24 days. But you’d never know that reading these two news stories!

On Thursday, LVMH, the luxury empire behind Hennessy, Moet & Chandon and Louis Vuitton announced its third quarter sales were up 6 percent. Meanwhile, retail stocks have been tumbling for weeks, more and more people are losing their jobs and a few states are in danger of running out of unemployment funds.

Who’s buying all the Louis?

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Business - Tuesday, October 7, 2008 9:01 - 4 Comments

Coke’s Full Throttle Goes Hip-Hop

Coca-Cola decided to give its Full Throttle energy drink a Hip-Hop makeover and announced a new spokesman - Big Boi.

A Coca-Cola spokesperson said Full Throttle Fury’s orange flavor “resonates specifically with African - American males” the campaign’s “consumer target.”

The beverage with the tagline “Go Full Throttle or Go Home,” will be served at events promoting Big Boi’s upcoming album, Sir Luscious Leftfoot: Son of Chico Dusty.

Business - Tuesday, September 16, 2008 14:14 - 5 Comments

Best Buy Purchasing Napster For $121 Million

Best Buy announced its plans to purchase the music service Napster yesterday. In the $121 million deal Best Buy will get the music service’s 700,000 subscribers and 140 employees.

Napster will hold $67 million in investments, which drops the net price to $54 million.

Business - Saturday, August 30, 2008 11:34 - 7 Comments

R.I.P. 40/40 Las Vegas

It’s time to pour out a swig for Jay-Z’s Las Vegas club. The Sin City location of his 40/40 sports bar chain, open for less than a year, has been sold for an undisclosed amount. The nightspot, located in the Palazzo casino, had problems before it even opened. Allegedly, a failed inspection almost postponed its star-studded New Years weekend grand opening.

40/40 club locations in New York and Atlantic City continue to do well and there are plans to open locations in Tokyo and Macau.

Business - Monday, August 25, 2008 11:13 - 7 Comments

Franchise Boys

The Kanye model of opening 10 Fat Burger locations isn’t the only way to become wealthy through owning a franchise. The smartest franchise options in today’s economy are the ones that provide services not serve burgers. Black Enterprise put together a list of the 25 most affordable franchises and listed their start-up costs.

Cleaning someone’s toilet might not be your ideal job, but how does starting your own business for under $3000 sound? Franchise startup costs for Jan-Pro Cleaning Systems, a home and office cleaning service, range from $2,850 - $40,000. Still not feelin it? You can open a Curves fitness center or an Ident-A-Kid child ID service for under $50,000.