Last January when Jay Z stepped down as president of Def Jam one of reasons he gave was that he wouldn't have time for the label between running his 40/40 clubs [the Las Vegas 40/40 closed, by the way] and developing his new boutique hotel 'The J'. Well scratch 'The J' off Jay's 'To Do' list. Jay's hotel plans have been put on hold because most of the financial backers had to step off, leaving Jay about $350 million dollars short.
Tuesday, December 30, 2008
J Hotel On Hold
Last January when Jay Z stepped down as president of Def Jam one of reasons he gave was that he wouldn't have time for the label between running his 40/40 clubs [the Las Vegas 40/40 closed, by the way] and developing his new boutique hotel 'The J'. Well scratch 'The J' off Jay's 'To Do' list. Jay's hotel plans have been put on hold because most of the financial backers had to step off, leaving Jay about $350 million dollars short.
