Michael Jordan Invested $220 Million In The Bobcats!

Michael Jordan was officially introduced as the majority owner of the Charlotte Bobcats yesterday. The Charlotte Observer reports that the team is valued at $275 million and that Jordan owns about 80percent of the team which equates to an investment of about $220 million. Jordan has to be commended for making a commitment to the only pro basketball team in his home state.

Charles Barkley has said that Jordan is one of the most financially savvy people he knows, so for Jordan to make this type of financial commitment proves that he's serious about making the Bobcats a success. The fact that he's the first pro basketball player to be a majority owner is monumental and could be Jordan's greatest success over and above him being the greatest basketball player of all time.

Now I Know Ron Wahington!

Admittedly, I'm not the baseball fan that I used to be, and before yesterday didn't know that Ron Washington was the manger of the Texas Rangers and also African American. Unfortunately for Mr. Washington the whole country knows who he is today after he came clean to his team and Major League baseball that he was going to fail a drug test last year after apparently using cocaine for the first time at 57 years old. Washington's honesty actually helped him, because even with the admission he wasn't fired on the spot.

Washington is in his 4th year as manager of the Rangers, and managed them to a second place finish in their division last year. It will be interesting to see what happens if the Rangers get off to a slow start this year. Players get second and third chances even with admitted drug use, Washington's situation will be the litmus test to see if managers have the same latitude.

Can He Win It?

Tiger Woods announced yesterday that he is officially returning to golf at the Masters Golf Tournament next month after a nearly 5 month self imposed sabbatical to deal with his personal issues. Now that he's returning, the question for Mr. Woods is does he have a chance to win the tournament. If Woods' past performance after extended breaks is an indication, it will be difficult for him to win. However, who would ever bet against the greatest golfer in the world.

Michael Jackson Still Making $$$$$

Michael Jackson continues to make money for his estate after his death. It was announced yesterday that his estate has entered into an agreement with Sony Music Entertainment that will feature 10 projects over 7 years and could be worth up to $250 million. "This Is It" the movie featuring concert footage is a part of the deal, and reportedly generated $100 million in profits towards the estate. Also featured as part of the deal, is a reissue of the monumental "Off The Wall" and a release of previously unreleased music in November. Obviously we can't get enough of everything Michael!

Can Detroit Schools Be Saved?

The City of Detroit Public Schools are on what many would say is life support with a 58% graduation rate. Emergency Financial Manager Robert Bobb has unveiled a plan to boost the graduation rate to 98% in 5 years and add up to 70 new schools while improving curriculum according to the Detroit Free Press. The plan would cost $540 million, which on the surface sounds like a low estimation. Detroit has been hammered like all major cities during this recession, but hopefully this plan will be successful and not go the way of a lot of plans that get bogged down in politics and agendas.