Real Housewives of Atlanta Star Phaedra Parks is taking to her Bravo Blog this week to set the record straight about her business deal gone awry with cast mate Kenya Moore. Phaedra gives viewers her perspective on what happened and says Kenya needs to take a Business 101 class. Phaedra also says that Kenya was obsessed with working on the Donkey Booty Workout DVD, because she has NO other projects going on! Read below!
Phaedra writes, “This weekâ€™s episode was all about business and friendship, which often makes for two unsavory bedfellows. This week Apollo and I attempted to do business withÂ KenyaÂ regarding our recently released Phine Body workout DVD. The business deal went awry when Kenya refused to present us with paperwork or speak to our attorney regarding her verbalized proposal.
While I have been noted as many things, a less that astute business woman has not been one of them. While we considered using Kenya, just like every other production company we contacted, we expected a budget, transparency, and the right to ask questions and receive answers. However, Kenya was opposed to all of this. She instead wanted my husband and me to pay her $100K in production fees with a 10% back end for an idea she did not invest in or assist in developing.
Instead of her using an attorney, which is standard for most business transactions,Â she wanted to negotiate the deal herself and became offended when our attorney questioned her about her budget and alleged distribution deal that we never agreed to nor received any paperwork for. I am assuming that she thought since we had known her for one month we would trust her with $100K without doing our due diligence. This blatant lack of rudimentary businessacumen made me very skeptical as her resume and actions were not consistent with what she was telling us. Everybody knows if you do million dollar deals you minimally have an attorney on retainer and no one pays anyone 50% or a 10% back end for a product that they have no intellectual property interest in or financial risk/investment in. We never asked Kenya to secure aÂ distribution deal, she did that on her own accord, we asked her to produce (i.e. tape/record and edit) our workout DVD. However, she used my name to solicit offers.
Kenya’s primary contention was we wanted her to work for free. Which is bologna! If payment of $100K is free, please let me use your magic calculator and meet your accountant!Â While she continuously said she was working for free, our research with over five different production companies revealed to us that with our $100K payment she would minimally net in profits no less than $47K for her services which is more than ample compensation for a dayâ€™s work and 2 half hour meetings.
Unfortunately, business deals often go sour. I have never been one to cry over spilled milk, because I usually have another gallon or two in the refrigerator to pour. However Kenya, who obviously does not have any current projects and/or business ventures, became obsessed with working on our project; taking every opportunity to whine about it with anyone who would listen. Her time would have been used more wisely if she would have just been forthcoming with us, or better yet, hired an attorney to negotiate the deal. Thankfully, we did not use her or her company and ourÂ Phine Body with Phaedra & Apollo Donkey Booty Volume IÂ was successfully released on December 11 without a hitch or an emotional roller coaster attached to it! We do hope that Kenya will invest in a Business 101 class and we wish her all the best!”
Photo Credit: Bravo