AND NOW HERE’S THE NEWS: It’s no...

AND NOW HERE’S THE NEWS: It’s no secret that hip-hop’s hottest rivalry is between L.L. Cool J and Kool Moe Dee, who’ve been taking potshots at each other on recent records. So guess which two rap stars will be performing live on Wednesday’s second annual Soul Train Music Awards, which will be held at the Santa Monic Civic and air on Channel 11 from 8-10 p.m.? Right--Cool J and Moe Dee, who are also both vying for the best rap single award. If you’re tuning in the show (the first to recognize rap with two separate categories), also watch for Eric B. and Rakim, Whodini and Run-D.M.C., who’ll be on hand as presenters, along with Magic Johnson, Morris Day, Jody Watley, Eric Dickerson, Chaka Khan, Don King and Dexter Gordon. . . . Bug Records (an offshoot of Bug Music publishing) will make its label debut, through Capitol Records, with a compilation of Depression-era hillbilly music. The collection, which will feature the likes of Speedy West, Merle Travis, Jimmy Bryant and the Farmer Boys, is being chosen by none other than Marshall Crenshaw, who’ll also write the liner notes for the project. . . . And yes--those California Raisins ads are coming back, with Ray Charles making his debut as Raisin No. 1 in the new TV ads.