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Rappers have been known to influence interest in fashion trends, alcohol brands, and luxury automobiles. This week hip-hop mogul 50 Cent added the stock exchange to the list.

In just one day, 50 Cent's promotion of the publicly traded H&H Imports, Inc. raised the company's stock price from .10 to .39 per share.

The G-Unit head urged his 3.8 million Twitter followers to invest in the company. "TVG's stock went from 5 cent to 10 in one day," 50 wrote about the subsidiary of H&H. "You can double your money right now. Just get what you can afford."

50's fans responded immediately, purchasing $50 million worth of the penny stocks. The New York rapper made $8.7 million from those exchanges.

Last October, 50 Cent received 30 million H&H shares in a private placement, the New York Post reported. Just days before encouraging his followers to purchase the stock, he premiered a joint effort with TV Goods, Inc., a set of headphones called Sleek By 50.

Using his influence to generate so much activity for a company in which he owned stock prompted some experts to speculate whether or not he may have violated insider trader laws.

Jonathan Macey, a professor of securities at Yale Law School, does not believe 50 Cent did anything wrong. "How can they call it a take if he didn't sell his stock?" Macey said in an interview with Esquire. "All he said was that it's a great company."

Let's hope Macey is right. But to be safe, 50 has since deleted from his Twitter page all of the messages...

Jay-Z, another one of hip-hop's most successful entrepreneurs, also revealed new business venture this week. The "Empire State Of Mind" rapper invested in Buffalo Boss, a chicken-wing restaurant co-owned by his cousin, Jamar White. Located in Brooklyn, the eatery specializes in the organic and spicy appetizers.

News wasn't so good this week in several other music related news stories. After a six day pretrial hearing, a Los Angeles Superior judge has determined that Michael Jackson's cardiologist Conrad Murray will stand trial for involuntary manslaughter. Rockers Drowning Pool insisted upon clearing the air about their song "Bodies" and its connection to Arizona shooting suspect Jared Loughner who featured the track on his YouTube channel. The video used their song as the background music for an unpatriotic act. And the excitement over Britney Spear's return was nearly eclipsed by accusations that her new song borrowed, without permission, lyrics from a 1979 country song.

Wow. We must say, this is, hands down, the most impactful week in music all year. Let's hope new week will be able to live up to the hype. See you then.

WORKERS TO GO IN POWER Bonanza

Do the Math: 2.7million Per head !

N135 billion severance package ready For an epileptic Power Sector of Non Performing Staff ? They will still get jobs in the privatised companies being set up !

FOR the reform in the power sector to work, 50,000 workers in the Power Holding Company of Nigeria (PHCN) would be sacked. However, the Federal Government is planning to pay N135 billion compensation for the workers..

Presidential Adviser on Power, Prof. Bart Nnaji, yesterday confirmed this to the House of Representatives.

He said the workers would be sacked before the Federal Government hands over the 18 companies carved out of PHCN to their new owners in the first quarter of next year.

He also informed the House that N135 billion ($900 million) severance package is being worked out by the Central Bank of Nigeria (CBN) for approbation in next year’s budget for the workers.

The Speaker of the House, Dimeji Bankole, was particularly worried since it has been established that lack of funds is no longer the bane of the power sector and since so much money has been pumped into the sector with no commensurate result.

In his presentation, the Speaker noted: “In the past two years, we have been doing all we can to ensure that the power sector is adequately funded yet, nothing has changed.”

Nnaji was in the Lower House with members of the Presidential Task Force to lobby the lawmakers on the need to come up with enabling legislations that would drive the reform.

Nnaji observed that the staff burden of the PHCN is worrisome. “There is a high operating cost in the company, gulping over N8 billion annually in which staff salaries and pension take 80 per cent of it”, he told the committee.

He said that 70 per cent of the cost of running the sector is incurred at the distribution business level. “The whole idea for the future of the sector is to cut a good deal for the workers for a more efficient power output for the country when the workers would have been been laid off. We would enter into an agreement with the new owners of the companies to absorb them.

“There is no way the new owners would work without trained and experienced workers. So, most of the workers would be fully re-engaged after entering into a new contract with the new owners.

“We are already working out a $900m (N135 billion) severance package for them with the CBN for appropriation in the next budget,” he declared.

He said that there were already strong interest from international investors in the country’s power sector.

“Essar of India plans to put in up to $2 billion of investment if the sector is reformed to logical conclusion. There are also strong interests from financiers and operators all over the world for our proposed sale of PHCN,” he said.

According to him, the privatisation of the sector would not be possible if the Electricity Power Sector Reform Act 2005, which gives the time line for the sales of the entities carved out of the PHCN, is not adjusted to accommodate the proposed dates. They are made up of 11 Distribution Companies (Discos), six Generation Companies (Gencos) and one Transmission Company (Transco).

According to the Professor, the present PHCN is indebted to suppliers and other service providers to the tune of N90 billion and it is owed N100 billion by its customers.

He lamented that “there is a severe lack of business orientation in the PHCN, coupled with inadequate expertise, especially technical, but most prevalent at the distribution level of the company.”

The Chairman, House Committee on Power, Patrick Ikhariale, said there was no alternative to the privatisation of PHCN.

He, however, assured the presidential committee that lawmakers would give support to the Task Force. “We can assure you of our full support because the issue of power is of extreme importance to every Nigerian and we will work with you to see that the sector improves,” he said.

comments: Does this guy not have advisers?The country is not working young men and women have no Jobs.Workers not being paid poor infrastructure,No light,No good roads,No security and we want to spend 9.5Billion to celebrate!!Celebrate what I ask?Our failure?Every other country is finding ways to cut down on unnecessary spending Nigerian Government is looking for ways to spend Photo: GJ in oyo State .

Catch GJ on Faceboko and Tell him what you think

http://bit.ly/GJFACEBOOK

Following criticism of the federal government's plan to spend N16.4 billion on the celebrations of Nigeria's golden independent jubilee, President Goodluck Jonathan has slashed the anniversary budget to N9.5 billion.

The adjustments are included in the latest amended supplementary budget which the president presented to the national assembly for consideration and passage.

In a letter to the national assembly conveying his intentions, the president said listed the areas which the cuts affected and said it was a "slight amendment."
Contrary to widely circulated reports that the president, earlier, presented a budget of N10 billion for approval by the National Assembly for its Nigeria at 50 celebrations, the figures from the former supplementary budget shows that the actual figure that was budgeted for the event was N16.37 billion.

comments: Does this guy not have advisers?The country is not working young men and women have no Jobs.Workers not being paid poor infrastructure,No light,No good roads,No security and we want to spend 9.5Billion to celebrate!!Celebrate what I ask?Our failure?Every other country is finding ways to cut down on unnecessary spending Nigerian Government is looking for ways to spend Photo: GJ in oyo State .

Catch GJ on Faceboko and Tell him what you think

http://bit.ly/GJFACEBOOK

Following criticism of the federal government's plan to spend N16.4 billion on the celebrations of Nigeria's golden independent jubilee, President Goodluck Jonathan has slashed the anniversary budget to N9.5 billion.

The adjustments are included in the latest amended supplementary budget which the president presented to the national assembly for consideration and passage.

In a letter to the national assembly conveying his intentions, the president said listed the areas which the cuts affected and said it was a "slight amendment."
Contrary to widely circulated reports that the president, earlier, presented a budget of N10 billion for approval by the National Assembly for its Nigeria at 50 celebrations, the figures from the former supplementary budget shows that the actual figure that was budgeted for the event was N16.37 billion.