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Jackson Estate Ready to Pounce on Profiteer

6/22/2010 5:00 AM PDT BY TMZ STAFF

Katherine Jackson 86's Probate LawyersThe lawyer for the Michael Jackson estate thinks the businessman who partnered with Katherine Jackson is hurting Michael's children -- and is threatening legal action if the dude doesn't stop.

Howard Mann -- whose business ventures include online nude gambling -- got Katherine Jackson to agree to publish the book, "Never Can Say Goodbye," scheduled for release this week.

Mann also told TMZ he and Katherine will make record deals for 273 unreleased Michael Jackson songs -- part of an MJ treasure trove he acquired in a fire sale after Joe Jackson failed to pay a storage bill.

But estate lawyer Howard Weitzman is ticked, claiming Mann "may be using his relationship with Mrs. Jackson to infringe upon Michael Jackson's copyrights ... to the detriment of, among others, Michael's 3 kids."

Weitzman says Mann has no right "to exploit any estate assets" and he will take "whatever action is necessary to prevent him from unlawfully profiting."  TMZ translation -- the estate will sue his ass if Mann goes forward.
 
We're told Katherine Jackson is happy with the job the executors have done -- namely filling the coffers with hundreds of millions of dollars -- but sources say family members are in her ear, getting her to sign off on ventures that end up hurting the estate, MJ's kids, and Katherine herself.

117 COMMENTS

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107.

Daphne     

Daphne models don't eat, LOL!!



Posted at 1:33 PM on Jun 22, 2010 by susie



LOL x 2. This is how they stay so slim.

1562 days ago
108.

TSIG    

Author: Brigha from UK
Comment: I hate the way Michaels memory has become a 'financial product' since his death...Now it's all about the money...The MJ3 have enough money now to keep them in luxury for the rest of their lives...So, I will not be buying any MJ records or memorabilia as I do not wish to contribute to Brancas pension fund. So, why not put the songs out as a free download so that generations to come can enjoy MJ music?



To Brigha from UK: Please use your noodle. First, it's not "all about the money," at least not for the executors of the estate. It's all about making quality deals that honor Michael Jackson's memory and legacy and provide joy to his worldwide fans, who still can't get enough of him. Of course, the executors have a fiduciary duty to generate revenue for the estate IN RESPONSIBILE WAYS -- that is one of their primary duties; and yes, they should be paid for their services. After all, you expect a paycheck at the end of the week, don't you? Or do you work for free?



Second, the MJ3 do not yet have ANY MONEY AT ALL. Although the executors may have made deals in this first year worth about $1 billion, THE ESTATE IS STILL VERY MUCH IN THE RED. Much of that billion won't be recognized for years, and once the deals do generate the expected revenue, revenue is different from GROSS INCOME, which is also different from NET INCOME. You can only pay bills and get money from the estate from NET INCOME. REVENUE - EXPENSES = GROSS INCOME - TAXES ETC. = NET INCOME = REAL MONEY TO WORK WITH. Jackson died with $500 million in debt, multiple lawsuits to settle for millions more, and estate taxes probably in the hundreds of millions. So far, news reports indicate that executors have been able to pay off only $200 million of Jackson's debt. The estate will need to earn about another 1.5 billion before the estate can even get to the STARTING GATE to begin distributing money to the charities (20% of Jackson's estate), the children and nephews, and the mother.



So keep on buying those MJ records and memorabilia if you want to see Jackson's estate make it back to black, and you want legitimate charities to realize the 20% of every dollar the estate eventually makes. That 20% will do a lot more to help generations to come than free downloads.

1562 days ago
109.

aston    

As far as I understand, the executors have done a tremendous job. Branca made all Michael's best deals for him when he was alive. If this had been left to the Jackson family, they wouldn't have known where to start. If the article is correct, Katherine and the children might not even have a place to live - or have to live with Joe Jackson in Vegas, we don't know how they would have solved that problem.



I saw the movie, because that was the last chance to see Michael, and I just bought Thriller. I might buy albums with unreleased music, I just hope it won't be completed the way "This is it" was. Just give us Michael's demos, please!



Michael continued to be creative after that scandalous trial that should have put Tom Sneddon behind bars for misuse of the judicial system, but he didn't manage to get his songs out there. He lost his drive, and media are to a large degree responsible for that.

1562 days ago
110.

Daphne     

So far, news reports indicate that executors have been able to pay off only $200 million of Jackson's debt. The estate will need to earn about another 1.5 billion before the estate can even get to the STARTING GATE to begin distributing money to the charities (20% of Jackson's estate), the children and nephews, and the mother.



So keep on buying those MJ records and memorabilia if you want to see Jackson's estate make it back to black, and you want legitimate charities to realize the 20% of every dollar the estate eventually makes. That 20% will do a lot more to help generations to come than free downloads.



Posted at 7:32 PM on Jun 22, 2010 by Tom Sneddon is Guilty



Thanks for putting it in plain English for us. BTW what's new with T.S.

1562 days ago
111.

Andie    

62. Hi Alice :) Thank you! Keep them coming! Whenever we look at the stars we know who to think of :)

1562 days ago
112.

Butterfly    

Waves to Dahne and moni,



Not often here,next week i have 2 test`s ( you remember for me everything had change ).



Sad and diffcult day`s!



But every day ends with a glimps of Mikeys smile,



its so sad ,but i`m proud he was here in my time.



Last year this time... unbelievable...




LOVE and MISS MJJ more and more and more



Every time i see your smile it makes me smile and love you more!

1562 days ago
113.

Butterfly    

sorry Daphne, sure

1562 days ago
114.

Daphne     

Every time i see your smile it makes me smile and love you more!



Posted at 6:54 AM on Jun 23, 2010 by Butterfly



All the best to u, Butterfly. Keep smiling. U will be fine. Take care.

1562 days ago
115.

Cinsimo    

Here's an idea.....why don't the Jackson family members get jobs namely Jermaine and Randy and along with the rest of the bunch instead of being lazy and trying to live off Michael as they tried to do before he passed. They all wasted obviously any money they made back in the day instead of creating financial security for the future. They should have realized that the only reason the J5 made it in the first place was Michael. Without him their talent wasn't and isn't enough to stand alone. I used to feel sorry for Michael before he passed because of Joe, but now I see that most of that entire family is f&^%3$ up. Joe is just the most obvious. I pity Michael's three kids. I just hope they grow up fast and leave that crazy bunch of lazy moochers.

1549 days ago
116.

mysteria333    

WHEN 2 FAMILIES TRIED TO EXTORT MICHAEL PERSONAL FRIENDS THAT MICHAEL THOUGHT WERE CLOSE FRIENDS SUDDENLY BECAME DISTANT FRIENDS. WHICH CLEARLY MEANS THEY WERE'NT TRUE FRIENDS IN THE FIRST PLACE. KATHERINE IS CLEARLY AND PAINFULLY AWARE OF THIS FACT. SO IF SHE WANTS TO TRANSACT BUSINESS ON HER OWN, MORE POWER TO HER! I JUST HOPE AND PRAY SHE IS GETTING GOOD ADVICE WHEN SHE DOES IT. WHY ARE PEOPLE SO QUICK TO FORGET KATHERINE IS MICHAELS MOTHER AND MICHAEL LOVED HER VERY MUCH. WE HAVE'NT THE RIGHT TO JUDGE HER ABOUT HER OWN CHILD. HOW WOULD WE LIKE IT IF OUTSIDERS CONSTANTLY INTERFERRED IN OUR PERSONAL FAMILY BUSINESS? WE WOULD'NT! PLEASE SHOW SOME RESPECT TO JACKSON FAMILY, AND MOST OF ALL TO MICHAEL.

1526 days ago
117.

Valerie    

I know that using Michael Jackson's name to sell a product is wrong but Katherine is Michael's mother and if she whats to write a book about her dead son why is this wrong?? I don't believe it is and I think she has every right to do so. It does not matter what the reason is SHE HAS THE RIGHT. If my son died, no one is going to tell what I can or can't do concerning my son, I know MJ is famous and is more complicated but Katherine is still his mother and that should mean something to the public.

1449 days ago
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