A rap label chief-turned-performer is topping the music charts this week--and his name ain't Puffy.

Meet New Orleans rapper Master P, whose two-week-old, gangsta-flavored Ghetto D has trounced all comers, from Puff Daddy to Fleetwood Mac to the quickly disappearing Oasis, for the week ended September 7.

Ghetto D, a reality-rap album, debuted at No. 137 last week after only one day of sale. This week, the album jumped 136 spots with sales of 260,000, according to Industry sources.

Master P, aka Percy Miller, is the CEO of two-year-old No Limit Records, which is distributed by Priority. Almost all the Southern rappers on the label, such as Mr. Serv-On, Kane and Abel and Silkk the Shocker, are receiving national recognition right now as their gritty New Orleans hip-hop has become a hot subgenre.

Master P has also released the straight-to-video I'm 'Bout It, which has sold an impressive 300,000 units. The soundtrack had a number-four debut back in May.

Another label-CEO-turned-artist, Puff Daddy (Bad Boy's Sean "Puffy" Combs), dropped to No. 2, selling 140,000 of his No Way Out, down from 153,000.

Several acts featured on the MTV Video Music Awards were scattered through the Top 10, but they didn't benefit from the expected sales spike. Puff Daddy, the Spice Girls (No. 6; 88,000 from 103,000) and Will Smith's Men in Black soundtrack (No. 8; 81,000 from 96,000) sold fewer albums than the previous week. Only Jewel (No. 5; 92,000 from 85,000) and Prodigy (No. 10; 71,000 from 67,000) did better than their MTV cohorts, recording slight sales boosts.

Meanwhile, Fleetwood Mac's comeback, The Dance, charted at No. 3 with 117,000, down from 142,000 a week ago. Trisha Yearwood's Songbook is a page-turner for 98,000 avid readers. In seventh was Matchbox 20 with "Yourself or Someone Like You (84,000).

Despite the hype, Oasis' Be Here Now plummeted from No. 2 to No. 9 with sales of 73,000, off from its debut last week of 153,000.

There were some other notable bands whose new releases charted outside the Top 10. Genesis minus Phil Collins bowed at No. 54. Ex-Nirvana bassist Krist Novoselic saw his new project, Sweet 75, sell a measly 1,000 copies--not even cracking Billboard's Hot 200.

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