News: Dame Dash Talks Financial Fall, "My Mistake Was Watching Everyone Else's Career"

Wednesday, Mar 25, 2009 10:00AM

Written by Cyrus Langhorne

Roc-A-Fella Records co-founder Damon Dash recently spoke on his highly publicized financial crunch and why Jim Jones deserves so much of his attention. 

The hip-hop mogul discussed both his legal issues and admiration for the Byrd Gang leader.

"My mistake was watching everyone else's careers and not watching mine," Dame explained. "After being able to settle my wife's company, I was able to start doing other things. My first approach was the music business and getting with Jim Jones. At first I wanted to help him because I've known him since he was young and me listening to the album and thinking it was really good. I thought it deserved to be heard outside of the urban market. So I spent the last six months doing research, trying to figure out how to use all my resources to blow this out...I'm not in the community like I used to be. I just know that good records sell. But I also know I don't depend so much on record sales; I depend on the brand." (Billboard)

Dash is also working with Jones on projects outside the music.

This week saw the arrival of Jim Jones' "Hip-Hop Monolgues" at 37 Arts. In an MTV interview, Jones and Damon Dash express their desire to take the show to Broadway. Jones and Dash have a packed schedule in the coming months. They're currently deciding the proper venue to release the documentary "This Is Jim Jones" and then there's a movie based on Byrd Gang, but Dash says their aspiration is to eventually get "Hip-Hop Monologues" on Broadway. (MTV)

The Harlem-based rap figure's recent financial problems have been publicized for the past few years.

An August lawsuit claims Dash and wife Rachel Roy have failed to pay due amounts on their luxury Tribeca condos from January to August totaling $7.8 million, which has resulted in the early steps of foreclosure proceedings. Eastern Savings Bank claims the couple agreed to make monthly payments of $78,500 on the properties. (Associated Press)

Dash made headlines earlier this week when reports of Roy divorcing him came to light.

Rocawear co-founder Damon Dash has been slapped with divorce papers by wife Rachel Roy, the Daily News has learned. The stunningfashion designer piled onto Dash's already sizable stack of lawsuits when she filed for divorce from her husband of four years this month in Manhattan Supreme Court. Ed Hayes, a lawyer for Roy, declined comment, and a Dash spokeswoman did not return calls or e-mails. An electronic record of the case says the divorce is for "nonmonetary relief" and should be resolved by February. (New York Daily News)

[For more on your favorite entertainers from the Big Apple peep SOHH NYC]

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