Fall Out Boy's Pete Wentz to Open a Bar in New York City

Ashlee Simpson's main squeeze, Fall Out Boy bassist Pete Wentz, plans to open his own bar in New York City called Angels & Kings. He wanted to create a place that he would never have trouble getting into. Apparently, he and the members of two other bands grew tired of being rejected from bars and clubs.

Pete was already pretty famous on his own, but I guess shacking up with Ashlee can really shine the spotlight on you. Hey, look what it did for Ryan Cabrera who's now dating Elvis Presley's granddaughter. If Ryan ends up marrying the trust fund baby, he'll never have to work again. Perhaps Pete Wentz should hitch his wagon to a bigger bank account holder like Paris Hilton or maybe even one of the Olsen skeletons.