This week New York businessman Jacob Arabo (Born Yakov Arabov) and known in the hip-hop world as “Jacob the Jeweler” was sentenced to 30 months in prison for lying to investigators looking into a multistate drug ring. In October Arabo pleaded guilty to falsifying records and giving false statements as part of a deal with federal prosecutors.  U.S. District Judge Avern Cohn was asked to impose a minimum sentence of three years and one month.  However Cohn decided to reduce the sentence by seven months, citing Arabo’s extensive charity work. Judge Cohn also ordered the Russian immigrant to pay a $50,000 fine and to make a $2 million forfeiture payment to the government.Arabo was arrested in 2006 at his

Manhattan jewelry shop. Authorities accused him and others of conspiring to launder somewhere near $300 million in drug profits. ”I feel ashamed that I broke the laws of this country, a country that has been so good for me,” Arabo said. “I will carry this shame for the rest of my life.”Prosecutors dropped the money laundering charges in the plea deal. Authorities accused Arabo and others of conspiring to launder drug profits for the “Black Mafia Family,” a ring that operated out of the

Detroit area beginning in the early 1990s. “Jacob the Jeweler” is most commonly known as the Jeweler to a growing list of Celebrities including Rappers, Athletes, and Movie Stars with Hip Hop and Fashion Mogul, Sean “P. Diddy” Combs being one of his most notable clients.

 

There is buzz throughout the technology and media world that Apple CEO Jobs’ health is failing.  Many say that Jobs didn’t look well onstage during the introduction of the new 3G iPhone at the 2008 Worldwide Developers Conference.  They say the already slim and trim Jobs looked even thinner than usual…almost crack head like. 

SF Gate Columnist Mark Morford wrote that Jobs’ trademark denim jeans were riding a little too high and the even more trademark black mock turtleneck looked a size or two too large.  All of which caused the rabid Mac blogosphere and even the cold-hearted suits over at Forbes and the Wall Street Journal, et al, to frumple and frown and wonder about Steve Jobs’ potential ill health.  Read More.

Despite the high operating costs associated with high tech cell phones…which often contain web and text messaging capabilities,  people apparently have placed a greater priority on communication than they have on keeping a roof over their heads.

With house foreclosures soaring, the smart homeowner might want to consider redirecting the $150-$300 per month they spend on cell phone bills towards keeping a roof over their heads. 

Consider this: 

In a typical family of 4 consisting of a Mom, Dad, and two teenagers aged 13 & 15…the monthly cell phone bill could easily be in the $240-$300 range. ( Mom: $60,  Dad: $80, Thirteen Year Old: $50, Fifteen Year Old: $50…Plus another $50 in taxes)

That extra $290 could go a long way towards avoiding losing your house to the bank.  But not so fast…

According to Verizon CEO Ivan Seidenberg, Verizon’s wireless and wireline business haven’t seen any significant impact from the weakening economy.

The sales volume hasn’t shifted, and there hasn’t been a change in momentum, Seidenberg said today on the sidelines of Verizon Wireless’ Open Development Conference.   “There’s nothing out of the ordinary,” said Seidenberg.  In other words PEOPLE ARE CHOOSING TO PAY THEIR CELL PHONE BILLS INSTEAD OF THEIR MORTGAGES.

According to the justice department, in 2002 Brisbane-based InterMune put out a press release under the direction of former CEO Scott Harkonen saying a clinical trial showed Actimmune effective in treating idiopathic pulmonary fibrosis.

The trial however, showed the exact opposite.

Actimmune has been approved by the Food and Drug Administration only for severe osteoporosis and chronic granulomatous disease.

As a result, former Intermune CEO Scott Harkonen was indicted Tuesday on charges he falsely promoted the company’s drug Actimmune as a lung disease treatment.   InterMune agreed in October 2006 to pay almost $37 million to resolve criminal and civil charges in connection with the allegations.

In a move that is sure to create ill will from music lovers, U2 manager Paul McGuinness has called for illegal music file-sharers to have their service cut off by their ISPs if they download music without paying for it.  McGuinness also said ISPs should face prosecution if they don’t participate in the crackdown.

“A simple three strikes and you are out enforcement process will see all serial illegal uploaders who resist the law face a stark choice: change or lose your ISP subscription”, said McGuinness.

The group is also calling upon their friend Steve Jobs to help with the situation.  Bono and crew recently allowed Apple to release a U2 branded ipod…and they’re hoping that Jobs can use some of his ipod, iphone, Mac Air magic to help craft a solution to the music industry’s biggest revenue challenge. Read.

Jim Donald, who was forced out this month as CEO of Starbucks Corp., will receive a $1.25 million severance payment. At an average of $4 per cup, that equates to 312,500 cups of Joe.  And he might need it. Donald will not be opening up his own Coffee shop or going to work for any coffee purveyors anytime soon…as he has agreed not to compete against his former employer for 18 months, according to a securities filing released Monday. Read.