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	<title>KRACKBLOG &#187; JAY-Z BROKE?</title>
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		<title>DOES JAY-Z NEED TO HOLLA AT WEFIXMONEY.COM?</title>
		<link>http://www.krackblog.com/2010/02/08/does-jay-z-need-to-holla-at-wefixmoney-com/</link>
		<comments>http://www.krackblog.com/2010/02/08/does-jay-z-need-to-holla-at-wefixmoney-com/#comments</comments>
		<pubDate>Mon, 08 Feb 2010 14:45:40 +0000</pubDate>
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				<category><![CDATA[LATEST NEWS/INFO]]></category>
		<category><![CDATA[JAY-Z BROKE?]]></category>

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		<description><![CDATA[Call us crazy, but if you&#8217;re going to take out a $52 million loan, you better be able to pay it back. We&#8217;re looking in your direction, Jay-Z. This whole report is filled with a bunch of business jargon. We can&#8217;t understand it very well &#8211; if we could we&#8217;d be millionaires &#8211; so here&#8217;s the [...]]]></description>
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<p><a href="http://www.krackblog.com/wp-content/uploads/2009/09/jay-z.jpg"><img src="http://www.krackblog.com/wp-content/uploads/2009/09/jay-z.jpg" alt="" title="jay-z" width="500" height="500" class="aligncenter size-full wp-image-5006" /></a></p>
<p><span style="font-family: Verdana; font-size: x-small;">Call us crazy, but if you&#8217;re going to take out a $52 million loan, you better be able to pay it back. We&#8217;re looking in your direction, <strong>Jay-Z</strong>. </span><a title="This whole report" href="http://www.businessweek.com/news/2010-02-04/rapper-jay-z-sues-highland-capital-management-over-hotel-loan.html" target="_blank"><span style="font-family: Verdana; color: #666666; font-size: x-small;"><span style="text-decoration: underline;">This whole report </span></span></a><span style="font-family: Verdana; font-size: x-small;">is filled with a bunch of business jargon. We can&#8217;t understand it very well &#8211; if we could we&#8217;d be millionaires &#8211; so here&#8217;s the version we had dumbed down for us: Jay&#8217;s company took out a $52 million loan from <strong>Highland Capital  Management LP</strong> in order to fund a hotel that&#8217;s to be built in <strong>Manhattan</strong>. When the loan was signed, both parties agreed to a payment plan. Highland claims that Jay defaulted on the loan. Jay says he didn&#8217;t default and filed a complaint last week claiming that Highland is &#8220;bleeding&#8221; funds from him in excess of what was originally agreed. And on top of that, Jay wants $3.7 million in damages. </span></p>
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