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You know when Pete Wentz starts paraphrasing Jay-Z, he means business. Actually, I wasn’t sure what the Fall Out Boy bassist meant when he dropped this during our conversation – but I think we’re all about to find out soon.

“People are gonna be really sick about the next deal I make,” said Wentz, who is also the head of Decaydance Records. “If people felt weird about the last one, people are gonna feel real weird about the next one.”

I asked Wentz to elaborate on his “On To The Next One” reference, and well… he at least continued.

“It’s got nothing to do with Fall Out Boy or Island Def Jam,” Wentz admitted. “It’s gonna be different, and it’s gonna make people feel sick, or happy.”

The only timeline Wentz gave to the big announcement is that it will not happen on Thanksgiving or Christmas, but will happen before the end of the year. He said that everyone is a little lost on what’s happening, but that he’s going through with it – whatever it is – anyways.

Interestingly enough, shortly after our conversation, he posted this Twitter update, “I kinda lost my mind for real. Not really looking for it either”.
Wentz called in to The Ralphie Radio Show to promote Believers Never Die: Greatest Hits. The FOB compilation hit stores and iTunes on Tuesday, and features two new tracks.

“Ahh man… funny question, yunno?” Wentz responded when I asked why the band released a “best of” album at this particular moment in time. “Fourth quarter. Labels like to put out greatest hits in the fourth quarter, don’t they? And ‘why now?’ because it’s like, the band doesn’t have enough hits to have a greatest hits. And ‘why now?’ because maybe it’s like, you have a contract you want to get out of. We asked ourselves all those questions, and then decided to put it out as something for the fans.”

Part 1: Believers Never Die: Greatest Hits, “Alpha Dog”

Part 2: Hair Cut, Future Plans, Angels & Kings (Wentz’s NYC Bar)

The timing is also curious given that Fall Out Boy as a band is currently on a hiatus, or as Wentz told MTV News the night before – a “decompressing.” So, while supporters may not have new material in the immediate future, they will have two new songs from the release, including the first single, “Alpha Dog.”

“We felt like (“Alpha Dog”) didn’t fit in,” Wentz reasoned as to why the track didn’t appear on Folie A Deux. The song did pop up on a mixtape the label head released prior to Fall Out Boy’s last LP. “It felt too electronic. At the time it felt futuristic, now it feels it is the right time for it.”

And oh how the times have changed. Wentz is 30, with a child and a wife, and will be living in New York for at least the next 13 weeks. His spouse, Ashlee Simpson-Wentz, makes her Broadway debut on November 30 in the musical, “Chicago.” For Wentz, this will translate to more time with his son. Bronx Mowgli Wentz turns 1 on Friday. This will probably also find the entrepreneur with more opportunities to manage and appear at his New York bar, Angels and Kings. The drinking establishment might be to blame for the slow, sometimes rambling responses I received from Wentz throughout our chat.

“I was there, in my head, last night,” Wentz said. “But I don’t think I was there, in reality.”

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Cobra Starship’s Gabe Saporta is glad he called The Ralphie Radio Show. Thankfully for the lead singer, I reminded him that Pete Wentz’s birthday was the next day. Sure Gabe may not know what to get Pete, but Saporta did chat about Cobra’s new CD and the bar he, Pete, and a few others own in NYC: Angels & Kings.

Check out Gabe talking about Leighton Meester and Cobra’s new single, “Good Girls Go Bad” here.

I suppose you could excuse Cobra Starship’s Gabe Saporta if he did forget Pete Wentz’s birthday… his band is touring the globe and gearing up for the release of a new LP in August.

But, thankfully for Gabe (and possibly a gift-receiving Pete), I reminded the lead singer of June 5’s significance when he called up The Ralphie Radio Show.

“Aw man, thank you for reminding me, you just saved my life!” Saporta acknowledged as an answer to a question about what he’d get Wentz for his 30th life anniversary. “I’m always glad to know when it’s Pete’s birthday because it always reminds me that I’m a little younger than him.”

Cobra Starship’s 29 year-old lead singer discussed Cobra’s new single with Gossip Girl’s Leighton Meester – the story behind Hot Mess – and the pending legal issues with a New York City bar co-owned by Wentz, himself, and members of the Gym Class Heroes.

“(Laughing) It was just something we were using to describe all of our favorite kind of girls,” Saporta admitted of Hot Mess, which drops August 11. “Then we’re like, ‘Why don’t we just call the album that?’”

The story behind Cobra’s new LP title doesn’t seem the least far-fetched. Saporta takes pride in the band’s reputation for its fun-first, music-second approach.

“You can’t insult me because, that’s the whole point of our band is yunno, we like to knock each other all the time.”

Matter of fact, the insults can even yield positive results. Saporta notes that one of the songs on the new CD, “Pete Wentz is the Only Reason We’re Famous” stemmed from a live on-line fan chat.

It also makes sense that the front man neither felt insulted nor shied away from questions regarding the bar he part-owns with Wentz, Angels and Kings. The drinking establishment recently experienced a run-in with New York State Liquor Authority. Officials cited the spot for serving minors. Saporta noted that the bar is now open, and that New York in general is offering quite the amount of tickets these days.

“They’re just cracking down left and right, even on crazy stuff – on like parking tickets and garbage fines,” said Saporta. “It’s hard to run a business like that, we’re not there to run it.”

Instead, Saporta and company are making music, playing shows, and filming videos. The band just wrapped up the shoot for “Good Girls Go Bad” – a track produced and written by Kevin Rudolf and American Idol judge Kara DioGuardi. Cobra’s front man noted that both Gossip Girl actresses-turned-singers – Meester and Taylor Momsen, were possibilities for the song.

“They both talked to our management,” revealed Saporta. “I’m like, ‘Yo, they came in here? Why didn’t you tell me about it? I wanna meet them, I love Gossip Girl!’”