Antonio L.A. Reid has found himself in hot water after being accused of mishandling many of his label’s biggest projects during the last year. The Island Def Jam CEO has reportedly been facing pressure from Lucian Grainge, the new Universal Music Group CEO, following his rampant spending and the incredibly low sales ofMariah Carey and Rihanna’s recent releases. Moreover, Reid’s recent efforts to sign Jennifer Lopez (who has not had a hit  record in years) have made him the target of serious media criticism.

Reid was scheduled to answer questions  from fellow industry moguls regarding the issue at the Billboard 2010 Music & Money Symposium at the St. Regis last week but failed to make an appearance after one of his sons mysteriously fell ill. To date, Carey’s ‘Memoirs of An Imperfect Angel’ has sold just short of 500k units since it’s release in September while Rihanna’s ‘Rated R’ has only shipped 2.5 worldwide compared to the 2.6 million that her ‘Good Girl Gone Bade’ album sold in the US alone.