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Another rumor from illseed:

I don’t know if you remember, but I told you that Sean “Diddy” Combs and Pitbull were supposed to be working together on Bad Boy Latino. The deal never happened. The thing is, we never determined why. I heard that Pitbull wanted to be part owner in the venture and Diddy wasn’t having all that. Unsubstantiated rumors say Pitbull claimed, "Diddy is just too cheap." I don’t know, but this seems to have some level of validity.

Of course, the key word is "rumor." Nonetheless, if it's true, it makes sense. Ownership is a serious thing and the decision to go into a venture like that with someone should always be taken very seriously. I know when people e-mail me about link exchanges (lame example, I know, but it all comes back to the same principle) and I turn them down, some of them go and say that I'm stingy, selfish, whatever. That's just how it goes.

Nonetheless, reports by Billboard that Diddy is on his album and that Pitbull is still working A&R for Bad Boy Latino would indicate that things are fine between them.