It appears that Fall Out Boy mouthpiece Pete Wentz will be the next rock star to open his own hangout. Wentz and a few friends and business associates plan to launch Angels and Kings or "AK-47" in the East Village of NYC (on 11th Street near Avenue A). According to a recent article, the inspiration behind the new establishment is that when he goes out, many bouncers don't recognize Wentz, or will not allow his whole entourage in with him. Says Wentz:

And I'm not the kind of person that's like, 'All right, I'll meet up with you guys later,' It's like, what's the fun in going out to a place if you're just sitting around in a VIP lounge with a bunch of other people on their BlackBerrys?…This is a bar for all the rejects, So he, along with promoter Jamison Ernest and his band's managers, Bob McLynn and Jonathan Daniel of Crush Management, are opening AK-47. "This is a bar for all the rejects, Whoever comes, comes, but basically, we can only hold 200 people, so when we hit capacity, we hit capacity. Though my friends will always get in. Maybe we could just toss the boring people out. If you're not dancing, there's somebody else who will

The spot will also serve as a hangout for some of the bands from Crush Management (co-owners in AK-47) such as The Academy Is …, Gym Class Heroes, and Cobra Starship; with possible drink specials coming from the bands' song titles. The bar will also be decorated with mug shots of Sid Vicious and Johnny Cash, and will have a jukebox loaded with music chosen by the bands. Wentz's close pals Panic! at the Disco originally wanted to invest in the project, but were unable to do so because they are under 21. The spot is scheduled to open April 30th.