July 11th to July 17th: Prince Albert II Takes the Thrown

Prince Albert II assumed the throne of Monaco on Tuesday in a ceremony fit for a king. The 47-year-old bachelor along with family, which included his two sisters, Princess Caroline and Princess Stephanie, celebrated the transition of power beginning with a mass at the cathedral his father, Prince Rainier III, was buried in just three months earlier. Prince Rainier III served as Serene Highness for 56 years. Prince Albert is the only son of Prince Rainer III and Grace Kelly, the famed Hollywood actress turned princess.

So here’s a question. How does a prince take the thrown and still remain a prince? Answer- he’s outed about having a two-year-old illegitimate son with a flight attendant who also happens to be black. To make matters even more interesting, when asked by a French reporter if there may be other women stepping forward with paternity cases, he responded with, "I know there are other people who have nearly the same cases." Apparently his father was so angry when he found out about his son’s fatherhood status, he thought the only acceptable punishment was to make Prince Albert II an illegitimate heir to the thrown thus ensuring he’d never be king. Of course, this is alleged. Monaco is a principality, not a kingdom; this could also have something to do with his Highness’s princely title.

No matter how hard others try, scandals don’t get much better than they do in New York. One recent scandal was capped off this week when a Manhattan Federal court handed down a 25-year sentence to former WorldCom CEO Bernie Ebbers. Ebbers -63, was found guilty in March of defrauding investors out of over $11 billion, the biggest fraud case in US corporate history. He will more than likely live the rest of his life behind bars. The once rags-to-riches story of this telecommunications tycoon seems to be ending on a sour note. The former basketball coach will be stripped of nearly all his assets and forced to pay a $5-million settlement from a New York class-action suit.

On a much brighter note, Halle Berry spent some time smiling for the cameras in New York this week. Oral-B used her beautiful smile to help launch the Oral-B Pulsar, the first toothbrush with a pulse. The toothbrush is touted as revolutionary, clinically proven to remove as much plaque as brushing and flossing combined. The celebration included a donation of $150,000 to the American Heart Association.

Chairman and CEO of Warner Music Group, Edgar Bronfman Jr. was honored by the UJA Federation at this year's Music Visionary of the Year Awards Luncheon. Bronfman, who was instrumental in making Warner Music Group the only publicly traded stand-alone music company in the United States, was awarded for his vision and innovation. He was the leading force behind the purchase, by a group of investors, of the struggling label for $2.3 billion in March. Warner Music Group is home to some of the worlds most recognized record labels, including Maverick, Elektra, Warner Bros., Atlantic and Bad Boy Entertainment. Attendees to this year’s luncheon included among others Lyor Cohen, LA Reid and Kevin Liles.