I think we need to start a “Crazy Sh!t that Birdman owns” column on WoooHa. First the $2 milli Bugatti, then the $250K chain, and now a $1.5 milli Chopard watch. Meanwhile the nation’s housing industry continues to plummet, consumer confidence is dropping to another low, unemployment is rising again…but hey…at least we have Kevin Rudolf and Jay Sean to make it all better. Thanks Birdman!

Kimora Lee Simmons  and Baby Phat’s parent company, Kellwood Company, will go their separate ways as of September 1, 2010. In 2004, Russell Simmons sold Phat Fashions for $140 million dollars in cash to Kellwood Co. and Kimora continued to be principle creative arbiter for Baby Phat. Now after a decade of positioning the clothing line as the premiere female hip-hop brand, Kimora will move forward to focus on her other ventures such as KLS collection, Kouture by Kimora and Fabulosity. She released a  statement saying:

“After 14 years of conceiving and nurturing Baby Phat, it’s time for me to move on and further expand my other businesses and create a new phenomenon,” Simmons says. “I adore all those who have faithfully been with me since the beginning.”

Via: E!

Since Kimora will no longer be the face of Baby Phat could this effect the brand? Beyonce’s Deréon line could definitely take over Baby Phat’s niche.

In a recent interview with MTV, Soulja Boy openly declares his desire to be become a big time player in the film industry. Not content on becoming just another “rapper-turned-actor,” Soulja Boy has bigger plans in mind.

“I’ve gotten a couple of scripts that I have looked at,” Soulja Boy continued. “But my dream is really to do my own, like produce, direct and everything because that to me is where it’s at.”

No doubt the producing and directing and owning your own film property is where the money is at, but if even 50 Cent has trouble getting his Cheetah Vision films in theaters, it’s going to be a long difficult road for Soulja Boy. Hopefully he can get tips from Ice Cube, whose Cube Vision is one of the few hip-hop artist ran film production companies with long-term success.

Now that Jennifer Lopez is officially out of the running as judge for next season of “American Idol” this leaves plenty of room (figuratively and literally) for another diva to step in. Nick Cannon started campaigning for his wife, Mariah Carey, to be the next judge and now it looks like talks have actually begun to heat up. Check the latest with this video clip from E! News.

Now this is something you probably though you would never see…T.I. as a traffic cop. But it’s true…T.I. put on the 5-0 uniform for his role in the upcoming cops and robbers flick Takers. Hollywood at its finest.

Birdman continues to show off his wealth. First his $2 million Bugatti (see video) and now this $250K 900-karat chain. Guess the recession doesn’t really hurt Cash Money.

After all the publicity and campaigning, it’s a slight, but important, rule that has officially done Wyclef in.

“[Electoral] Council spokesman Richard Dumel said election officials have accepted 19 candidacies and rejected 15 others. The Haitian-born singer’s candidacy was turned down because he did not meet the residency requirement of having lived in Haiti for five years before the Nov. 28 election.”

Honestly, as much as we like the fact that a hip-hop artist can wield such influence and power, it’s probably best to leave the politics to the politicians. Us Californians have already learned the hard way with AHN-old. Via: ProHipHop

J.Cole sits down with the New York Daily News to discuss the start of his rap career. He also has an article written…snippets from the article after the jump. Continue Reading…