N Word Lives at the Laugh Factory

Last November, TMZ posted exclusive video of Michael Richards' out-of-control racial tirade, forcing the venue to forbid use of the word. To mark the so-called "first anniversary" (the date is actually tomorrow-- we would know), factory boss Jamie Masada held a "press conference," where he advertised that Richards would be there. He wasn't. Shocker.

Masada surprisingly admitted that several comics continue to use the slur on his stage, saying "We tell comedians don't use the 'N' word', but if they do, I fine them and they have to give (the money) to charity." The penalty: a whopping $20.00. That's gotta put a huge dent in the wallets of folks like Damon Wayans and Carlos Mencia -- both of whom Masada fingered as offenders of the golden rule.

Reps for both yucksters are still trying to verify if/when/where such donations were made. But wait, there's more: 15 feet inside the club's front door is a showcase proudly displaying Richard Pryor memorabilia -- and guess what word is all over it.