I AM NOT A RAPPER

27th Feb2010

Michael Jordan Reaches Deal to Buy NBA’s Bobcats

by iSpit

story.michaeljordan.gi Michael Jordan Reaches Deal to Buy NBAs Bobcats

Retired basketball icon Michael Jordan bought a majority share of the NBA’s Charlotte Bobcats, officials said Saturday.

Jordan, who was already a minority owner of the team, headed a group that bought a majority share of the team from businessman Robert Johnson, Johnson said in a statement.

Johnson said he has signed a “definitive agreement” to sell majority interest of Bobcats Sports and Entertainment to Michael Jordan and MJ Basketball Holdings, LLC. The deal is subject to NBA approval. Details on the purchase price were not available.

Jordan has overseen the team’s basketball operations in recent years. He won six NBA titles with the Chicago Bulls.

Johnson, who founded BET and sold it to Viacom for $3 billion in 2001, announced that he had been looking for someone to buy earlier this year.

His fortune was depleted by an expensive divorce, but in a 2009 interview with CNN, Johnson estimated his net worth was still $1.1 billion.

Johnson’s resume is full of firsts: BET was the first African-American owned company traded on the NYSE. He was the first African-American billionaire in the United States. And, in 2002, he became the first African-American majority owner of a professional sports franchise.

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27th Feb2010

Prince – Cause & Effect (Radio Rip)

by iSpit

prince performs onsta6ce9a Prince Cause & Effect (Radio Rip)

Prince returned to his hometown of Minneapolis and gave local radio station, 89.3 The Current, the green light to premiere his new song. It’s a radio rip, but you get the gist of it.

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27th Feb2010

Update Weater Wars: Massive 8.8 Earthquake, Aftershocks Rattle Chile; Tsunami Warning Issued

by iSpit

(CNN) — A massive magnitude 8.8 earthquake struck central Chile early Saturday, producing powerful aftershocks and triggering a tsunami.

At least 16 people were killed, according to Chilean President Michelle Bachelet, with the death toll expected to rise.

The epicenter of the earthquake was located off the coast in Maule, near the city of Concepcion, 212 miles (341 kilometers) from the capital of Santiago. The quake struck at 3:34 a.m. (1:34 a.m. ET).

Concepcion is Chile’s second largest city with a population of 200,000. There are reports of collapsed buildings in Santiago. The quake was felt in several Chilean towns and in parts of Argentina as well. Some buildings in Buenos Aires were evacuated.

“This is a major event. This happened near some very populated areas,” said Randy Baldwin, a geophysicist with USGS. “With an 8.8 you expect damage to the population in the area.”
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26th Feb2010

Redman Album Pushed Back + New Artwork

by iSpit

The upcoming Funk Doc album gets a modified title and artwork, but loses its release date.

Spotted @ HHNM

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26th Feb2010

Jay Electronica on Gilles Peterson in UK

by iSpit

Once again, Gilles Peterson, proves why British public radio overshadows its ex-colony, by coaxing an appearance out of the enigmatic Jay Electronica, who remains unwilling to properly explain the whereabouts of Act II. After all, the Style War emperor is almost 35, and still has yet to release an official album. Why rush now. Besides, he’s getting that Bonnaroo Money. Of course, all support will be promptly dropped should this lead to lyrical references to Shakedown St. and/or a guest appearance from Dave Matthews, a development known to leave legacies more tarnished than Rafael Palmeiro.

Listening to Jay gauge the groundswell of attention he’s received post-”Exhibit C,” makes it clear that he’s waiting until the people demand a record, or that he’s an insane perfectionist, or that he signed to Aftermath and became blood brothers with Dr. Dre. Do not skip over the first 20 minutes, where Peterson previews new Flying Lotus and drops a New Orleans tribute with cuts from The Meters, Dr. John, and Louis Armstrong, etc. In the interview, Jay Electchannukah reveals he’s working on separate projects with Nas and Mos Def, wants to work with Guilty Simpson and introduces a good chunk of his free-floating material. He also waxes philosophic on his recording habits, his love of Steely Dan, the legacy of Dilla, and why staying at hostels is like being on Twitter. Lots of pests.

There are also unreleased Badu tunes, the turning of lead to gold, and tales of riding of a swam through the English channel while playing the harpisichord and ghostwriting for Puffy and Joanna Newsom. That’s apparently the only way you can get a rap album released these days. British public radio, you’ve done it again. By jove or something.

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ZIP: Gilles Peterson – Gilles Peterson Worldwide ft. Jay Electronic (2/24/10)

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26th Feb2010

Weather Wars: 7.0 Earthquake Strikes Off Okinawa,Japan

by iSpit

japan okinawa%20map Weather Wars: 7.0 Earthquake Strikes Off Okinawa,Japan

(CNN) — A 7.0-magnitude earthquake struck Japan’s Ryukyu Islands early Saturday, the U.S. Geological Survey reported.

Soon after the 5:31 a.m. (3:31 p.m. Friday ET) quake, Japan’s Meteorological Agency issued a tsunami advisory, recommending that people on the Okinawa Islands evacuate from the seashore. The advisory also affected the Amami Islands and Tokara Islands.

The quake was centered about 6 miles (10 km) deep, about 53 miles (85 km) from Okinawa.

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26th Feb2010

Erykah Badu – ‘Agitation’ x ‘Don’t Be Long’ (Radio Rip)

by iSpit

So here are 2 new tracks from Miss Badu’s upcoming album New Amerykah Part 2: Return Of The Ankh that premiered on Gilles Peterson’s BBC radio show this week. That trademark sound again.

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Bonus: Erykah Badu – Window Seat

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26th Feb2010

Sunni party to boycott Iraqi elections

by iSpit

t1larg.iraq .rally .gi Sunni party to boycott Iraqi elections

Baghdad, Iraq (CNN) — A key Sunni Arab party is boycotting Iraq’s March 7 elections because of what it says was Iranian influence that led to the banning of participants in the upcoming race, including the bloc’s leader.

The Iraqi Front for National Dialogue, headed by Saleh al-Mutlaq, said the move was prompted by remarks by a U.S. general and the American ambassador to Iraq about Iran’s influence in Iraq’s electoral process.

It is seen a setback for efforts to foster reconciliation between Iraq’s Sunni Arabs, Shiites, Kurds and other groups.

Al-Mutlaq, a prominent Sunni Arab politician, was one of several candidates — both Sunnis and Shiites — banned by the Justice and Accountability Commission because of alleged ties to Saddam Hussein’s outlawed Baathist Party.
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26th Feb2010

Taxpayers on the hook for $1 trillion in retiree benefits?

by iSpit

chart pension funding.top Taxpayers on the hook for $1 trillion in retiree benefits? Taxpayers could be on the hook for $1 trillion in pension and retiree health benefits.By Tami Luhby, senior writer

NEW YORK (CNNMoney.com) — Just as they are contending with massive gaps in their operating budgets, states and localities must also deal with a $1 trillion deficit in public employees’ retirement benefits’ funds, a new report found.

The shortfall amounts to more than $8,800 for every household in the nation, according to the Pew Center on the States, which published its findings Thursday.

States largely got themselves into this mess by failing to make annual contributions while also enhancing benefits, the study found. Now, they are behind by a total $452 billion in their pension accounts and $555 billion in their retiree health funds, as of the end of fiscal 2008, which ended June 30 for most states.

The deficit is likely even more severe because the report did not take into account the crumbling of the stock market in the latter half of 2008. The typical pension plan lost 25% of its value in 2008.

States must find ways to make up these gaps because retiree benefits for public workers are largely guaranteed by union contract. And they are funded through contributions from both employees and state employers, as well as investment returns.
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