Veteran Bay area rapper E-40 has announced the closing of his popular Fatburger franchise in California.
According to the Los Angeles Times, the hip-hop mogul has confirmed the impact of today’s financial crisis as being one reason for his unexpected decision, however, he plans to shift his focus to a new venture.

“I’m moving on from Fatburger because it didn’t really take off like it did in Southern California,” 40 told Times. “I’m moving on to Wing Stop…that’s where it’s at.”

Reportedly having worked on the new restaurant gig for a year, the rapper also plans to re-launch his 40 Water brand beginning early next year.

“I’m revamping it right now…changing the artwork, because there are so many big dogs out there,” he added. “I’m independent like an independent record, and big dogs like Pepsi are trying to crush me.”

40 Water’s re-launch is expected to kick-off spring 2009.

In related news, Denver police are still searching for the individuals responsible for a shoot-out following E-40’s concert at Club Vinyl in Colorado last Friday (December 26).

Despite violence surrounding the hip-hop venue, the rapper has released a statement denouncing any involvement in the shooting.

“Neither E-40 nor anyone traveling with him was in the venue at the time — E-40 had concluded his performance and been back in the hotel room,” 40’s management wrote in a statement. “He encountered nothing but love and gave nothing but love back. E-40 had a crowd pleasing and peaceful show…. While he certainly regrets that this incident took place, E-40 and camp are unable to control the poor and tragic choices that other adults choose to make.”

As of today, no suspects have been named in the shooting that wounded five people.

Jay-Z and his real estate partner Charles Blaichman are not immune to economic woes as their $66 million New York City hotel project has been put on hold for lack of funding.

According to a recent New York Times report, somewhere around $5 billion in New York City projects have been put on hold or pushed back due to the current money squeeze.

Blaichman, most known for his developments in lower Manhattan, is having trouble financing a pair of hotel projects including West Village’s Perry Street Hotel and West Chelsea’s J Hotels, which was a partnership he made with the hip-hop mogul last year.

“It’s one of the greatest stretches of undeveloped areas,” Blaichman told the Times. “I still think it’s going to take off.”

However, with the recent financial crisis across the nation, Blaichman continues to search for an funds to complete the project.

As Hood-Hop previously reported, Jay-Z invested in the former Time Warner Cable warehouse to create J Hotels in the West Chelsea area. Teaming with partners Blaichman, Abram Shnay and Scott Shnay, they reportedly shelled out around $66 million for the area which included the mid-block parcel and air rights.

The purchase gave them the ability to build up to 12 stories, according to the New York Post.

After a couple widely reportedly run-ins with paparazzi around the world, Kanye West is ready to make peace with the shutterbugs, and will do so beginning next year.

The producer recently told Hood-Hop that he’s already made his New Year’s resolution, and it’s to make peace with photographers.

“I love you guys. That’s my New Year’s resolution. Me and the paparazzi,” he said.

In November, West was detained, then arrested following an incident with a photographer in Newcastle, England. During the altercation, he allegedly pushed a camera into a snapper’s face. However, he was released without charge.

Two months prior, the rapper was arrested in a similar incident, but this time it was at Los Angeles’ LAX airport. West and his assistant were charged with felony vandalism, after smashing a paparazzo’s camera on the ground. Again, the charges were dropped.

We’ll see how long this peace treaty last…

It looks like the gig is up for J-Lo and Marc Anthony:

Jennifer Lopez and Marc Anthony may have renewed their wedding vows a mere three months ago, but their rocky romance will likely bite the dust right after Valentine’s Day, says an insider.

“Marc and Jennifer are planning on announcing their divorce right after Marc’s show at Madison Square Garden on Feb. 14,” a friend of the couple tells us. “Jennifer is planning on joining Marc onstage for a surprise duet. Things haven’t been right for a while now, and they thought it would be a bittersweet farewell.”

Definitely one for theatrics in arenas, J.Lo confessed her pregnancy at a sold-out show in Miami during her El Cantante  tour in November 2007 and will employ the same shock value a second time around.

“They’re definitely planning a clean break in February,” the source insists.

Well, at least they won’t have to waste any stacks on expensive ass Valentine’s gifts. It should be interesting to see how fast J-Lo hops on the next thing smoking, and ya’ll know homegirl has gotten around over the years.  Diddy and J-Lo in 09′….ten years laer!

In a recent performance documented by a Thr33 Ringz webisode video clip, the Auto-Tune king is shown on stage offering fans a first public announcement of the union.

“Check this out, I wanna bring somebody back on-stage,” Pain tells the screaming crowd. “I’m gonna make this real quick — everybody get your phones out, you ready? Ladies and gentlemen, [McCoy] signs to Nappy Boy Entertainment.”

After T-Pain placed a signature Nappy Boy Ent. chain around the Gym Class Hero’s neck, Travis later confirms his new membership.

“Yo, what it is, Travis McCoy, Gym Class Heroes, newest member of Nappy Boy fam,” McCoy announces. “I got crowned tonight by the king himself — we gonna make it do what it do.”

Promising that the upcoming year will be “0-9, 0-My,” McCoy exited the video embracing his active role on Pain’s popular roster.

In related news, the duo are currently on the “I Am Music” tour alongside the headlining act Lil’ Wayne as well as Keyshia Cole, Keri Hilson and Gorilla Zoe.

Hood-Hop has EXCLUSIVELY learned that R&B superstar Rihanna has been offered her first major movie role - to play the lead role in the remake of the 1980s classic movie The Last Dragon.While other news sources claim that the role was had been offered to a number of other actresses, Hood-Hop confirmed with a top notch source that the role belongs to the Bajan songstress if she wants it.

Hood-Hop just got a hold of a video of Beyonce talking about how she wrote If I were A Boy again. For those of you who don’t know the song was written and performed by independent singing artist B.C. Jean. But that’s not how Beyonce would have you believe it. Here’s what she had to say about writing the song:

Interviewer: Where did you get the inspiration to write If I Were A Boy? Because I’ve had some men who haven’t lifted a finger for me…

Beyonce: Definitely from some life experiences … years ago with the boys, before I found me a man.

The chick is pathological with her storytelling … but the interview is really fun.

Miami Heat guard Dwayne Wade gave one Florida family a big gift over the holiday season—a new home.

Wade was motivated after hearing the story of Dawn Smith. The woman lost all of her possessions after her nephew accidentally set fire to the home, burning it to the ground.

On Christmas Eve, Wade came to the rescue, presenting Smith with the keys to a brand new home.

In addition to the building, Wade, courtesy of his Wade’s World Foundation also provided furniture, clothing and gifts for the Smith family. According to an EUR Web report, the foundation will also make several payments on the home to further help the family recover.

“It’s not about what you’re going to receive — it’s what you can give to others from what you’ve received,” Wade said of the act.

“We can help this family have a new beginning.”

Wade also donated $30,000 to three children’s organizations and hosted 100 children at Tuesday’s Miami Heat game.

Sorry 50 – but it may be a wrap for your new TV show. Hood-Hop is hearing whispers that MTV may be canceling the series after only 6 episodes.

The last episode, which aired last Friday at 1AM in the morning, left off with 6 contestants remaining. An then to make things worst, we seen the show on BET already!  

DANG … we ain’t never heard of a reality show being CANCELED before the finale….

Five people have been wounded by bullets following a sold-out E-40 concert December 26 in Colorado.

According to Denver Post, a shoot-out occurred at downtown Denver’s Club Vinyl around 2 a.m. as fans were exiting the venue. Police report that a group of unspecified individuals opened fire on the victims which led to them being rushed to Denver Health Medical Center.

“There was a guy down here who was bleeding like crazy,” local security guard Kendall Davis told Post. “They need to do something about that club with innocent people being shot.”

As of now, the hospitalized victim remains in critical condition and no suspects have been named yet.

In related news, E-40’s new album The Ball Street Journal is currently in stores and features appearances by Too Short, Snoop Dogg, Akon, Bun B, Game and more.