Jim Cornette and Vince Russo have been at odds again ever since Cornette's appearance on Table For 3 where he and Eric Bischoff acted cordial with each other on the basis that they both hated Russo. Vince has responded on his own podcast and fought back against Cornette so the former OVW promoter challenged Russo to actually meet him in a face-to-face meeting so he could answer his challenge and spew all his comments directly "to his face" as Russo has dared Cornette to do so.
Unlike Russo's request to do it on an episode of any podcast though, Cornette doesn't want Russo on his show nor does he want Russo to get publicity from Cornette being on his show so he would agree to meet him somewhere public and hash it out face-to-face with no cameras or publicity of any kind. He also said that he will have $5000 in cash that Russo can have if he simply just shows up.
According to Cornette and his podcast, Russo had been enraged over accusations made by Jim on an episode of his podcast where he mentioned Russo had been e-mailing Vince McMahon almost every week begging him for a job in WWE. Many think that Michael Hayes may have tipped Cornette off to this information when they were filming the Table For 3 segment.
The clip of Cornette challenging Russo is decidedly NSFW so I have linked it here rather than embedding the video.