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+++ SEPTEMBER,
2k +++
Backstreet
Boy: We Have a Brain!
Source:E!
Online
By Josh Grossberg
Sep 12, 2000
You thought
the
Backstreet Boys were just good-looking. Now comes word they actually think,
too.
Although they've
made millions as the world's biggest-selling boy band, the Backstreeters
are now looking to make some financial moves.
According to
the Huntsville (Alabama) Times, Backstreet Boy Kevin Richardson held a
private meeting Monday with business leaders, a local financial planner,
and a hotel development group in Huntsville about the possibility of the
group investing in a new convention hotel for the downtown area.
The four-hour
meeting marked the first time the band has expressed interest in sinking
its hard-earned cash into a long-term, low-risk investment. For the singer,
it was a no-brainer.
"You know,
we do more than just sing and dance," Richardson told the newspaper. "We've
got a brain, too."
And a little
help. The Boys just happen to be repped by a Huntsville financial whiz,
Rick Baker of Morgan Stanley-Dean Witter, who also advises boy band 98
Degrees.
Although it
was only a prelimary get-together, Richardson said he and his MIA bandmates--Nick
Carter, Howie Dorough, Brian Littrell and A.J. McLean--have been looking
to invest for some time and have visited Huntsville on numerous occasions
both on and off tour.
"I think they've
got a nice civic center here [in Huntsville]," added Richardson. "It would
be nice to see a hotel in this area."
Huntsville
officials are considering giving tax incentives to developers in order
to build a convention hotel in the downtown area that would have a capacity
between 300 and 350 rooms, as well as additional meeting space for conventioneers
and restaurants.
The Backstreeters
seem to be following the lead of Michael Jackson, Van Halen, Jimmy Buffett
and other singing celebs who have used their financial muscle to bankroll
similar projects.
"We're looking
at various projects and opportunities at lots of cities around the United
States," said Richardson. "Our new album is coming out in November and
we'll get a tour together after it comes out. Right now, we're just resting
and exploring different projects."
What's next:
Backstreet Bonds?
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