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MJ's Neverland Ride Knows the Way to San Jose

12/9/2010 10:15 AM PST BY TMZ STAFF

Michael Jackson's Neverland Ranch "Balloon Samba" ride has turned up in San Jose.

0910_media_removed_Lindsay_Lohan1
An amusement company bought the ride from Neverland and rents it out to fairs and carnivals around the country.

Now everyone can get a ride ... courtesy of Michael.

73 COMMENTS

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46.

Brigha from UK    

41. MJ had tons of money coming from multiple business ventures not just publishing!!!....
Posted at 2:24 PM on Dec 9, 2010 by mymjj5
---------------------------------------------
I can't agree with you on this mymjj5. I think MJ was in obvious financial difficulties, otherwise he would never have even considered doing the O2 gigs.

Having said that, I have to admit that he SHOULD NEVER have had any money worries whatsoever. The catalogue income alone should have been enough to have kept him ticking over well into retirement.

As for the reported excessive spending, well I don't buy that either. Everyone had that impression from the Bashir interview, but I think it was an exercise to 'impress the creditors' and the furniture was eventually returned to the store.

So, the main question is; what really happened to MJs money? Why was he having problems when he had shown financial prudence and invested since his childhood? More importantly, WHO gave him the advice which allowed him to get into difficulties?

1352 days ago
47.

mymjj5    

So, the main question is; what really happened to MJs money?
_____________________________________________________________
In a nutshell BrighaFromUK, the people MJ trusted were drugging him, lying to him and stealing from him. That's what happend to MJ's money. (JM0)

1352 days ago
48.

mymjj5    

Hi Brigha from UK

The O2 gigs were not about money. It was about saying good bye to the stage on his own terms. Not to mention setting another world record...allegedly MJ wanted Guiness prsent at the arena on the final night of the concert series. Reportedly MJ would have made 50million for the entire series of shows. Not nearly enough to pay off 500 million in debt.....I always said those numbers regarding his debts were just to ward off future extortion. My other theory was the merger with Sony was not really a merger in which MJ recouped his investment 100 fold. It was a loan the entire time charging MJ interest on his own money and that's how this money mess got started in part (JMO).
I can see MJ taking out a loan on Neverland because it is a valuable piece of real estate. I can see him doing that in effort to hold on to his catalog if indeed it was tied up as loan instead of an investment in which he would truly be a partner with sony not just an artist.
Owning half of the publishing of the second largest music publisher in the world would take every member of the Jackson family well into retirement as well as their future generations. Publishing is forever!!!! Heck one movie sound track can gross a billion dollars world wide and MJ owned have of the publishing rights. I know there are other assoicated costs but it was a drop in the bucket. He owned the half the rights to over a half million songs that are used in film, commericials, sheet music, theater, re-releases etc.....I agree with you about the financial advice he received from whomever. No matter what happens only the artist is blamed when things go out of control. The lying thieving accountants and financiers seem to always go free to devour another unsuspecting victim in the industry.

btw: the oldest trick in the entertainment industry book are to have two sets of accounting books. One for yourself, and one for your client.


Jackson Family home in Gary
According to the official papers the property's current total value is over $19.000 and owned by the Jackson Heirs Trust (Katherine and Joseph Jackson). Some sources says that Jackson bought the property back in early 2003. There are no liens or unpaid taxes on the property.

Jackson Family home in Encino
The Jackson Family compound is worth around $3 million. According to the official papers, the home is owned by Jackson himself. There are no unpaid taxes on the property, but a $4 million mortgage lien.

Katherine Jackson's home in Las Vegas
The property's title once bought by Michael to Katherine has been moved to the "Land Title of Nevada Inc." back in 2003 in Katherine and Joseph Jackson's bankruptcy case. According to several sources, Katherine still has the rights to stay in the home. There are no liens or unpaid taxes on the property.

Neverland Valley Ranch
Jackson did not visit the famous ranch since his 2005 acquittal. The farm is owned by a joint venture between Jackson and Colony Capital (Sycamore Valley Ranch Company LLC) since late 2008. There are no unpaid taxes on the property, but a $24.5 million mortage lien.

Los Angeles property
Jackson reportedly owns a Century City hideout, but no further information is known about this property.

Rented mansions
According to the media reports, Jackson recently rents two mansions, one in Las Vegas and the other in Beverly Hills.

While Michael Jackson died while living in a palatial estate he rented, the real estate that has long been associated with his name is his Neverland Ranch. According to financial do***ents obtained by the Associated Press, Neverland Ranch had an estimated value of $33 million. Jackson took out a mortgage for $23 million against the 2,500 acre property, which is located in Santa Barbara County, Calif.

But 2007 was near the height of the housing boom. There are few properties that are worth today what they were in 2007, so it is likely that the ranch has fallen in value enough to wipe out any equity Jackson had in the property.

The AP's financial do***ents also note that in 2007, Jackson claimed to have a net worth of $567 million, with debts of $331 million. That left him with a net worth of $236 million, an amount that dwarfs the equity he had in Neverland at the time.

Like so many popular entertainers, Jackson's net worth is based in the rights to his own music. But he was also an astute businessman who owned a 25 percent share of the Beatles catalogue of songs, which he shares with Sony, as well as his cars, art, antiques and other collectibles.

Jackson has investment properties and a huge collection of antique and classic cars. But the bulk of his wealth hinges on his 50% stake in Sony/ATV Music Publishing, a music catalog that includes publishing rights to about 250 Beatles songs, as well as songs recorded by Elvis Presley and other popular artists.

Jackson purchased The Beatles' catalog for $47.5 million in 1985. In 1995, he pocketed nearly $100 million by selling a stake to Sony Corp. Jackson and Sony now hold equal stakes in Sony/ATV.

Sony declined to comment. But the catalog is believed to generate up to $80 million a year, and The Beatles' hits alone — still in widespread play — generate $30 million to $45 million a year. Jackson's own songs are held separately in Mijac Music, which also generates income for him.

Jackson borrowed nearly $200 million from the Bank of America in 2001, using his stake in Sony/ATV as collateral. Industry experts value the catalog at $60...0 million to $1 billion, based on sales of rival catalogs in recent years. Koppelman, a veteran music industry executive, says $1 billion is more reflective of Sony/ATV's worth.

"Buyers would be lining up around the block if it were ever put up for sale," Koppelman says. "And I'd be in the front of the line."

Song publishing rights are lucrative because of their increasing use in film, commercials, video games, TV shows and other venues. Like homes in hot markets, music catalogs with prime holdings continue to rise in value.

"Publishing catalogs are one aspect of the industry that have been seeing steady upturns, and (Sony/ATV) has some gems — you're talking Beatles classics," says Myles Mangram, CEO of industry consultant Tri-M Management.

1352 days ago
49.

mymjj5    

Someone posted a youtube vid on another board where he was saying he made tons of money off ranchers for renting land for their cows.
Posted at 2:12 PM on Dec 9, 2010 by marcia
_____________________________________________________________
hi marcia

I remember a few days after MJ's passing, some witch came on NBC Today and stated MJ would conduct animal sacrifices using cows at Neveland. She went on saying MJ was tying to place a spell on Steven Spielberg????? Needless to say Matt cut the interview short and went to commericial......just pathetic!!!

1352 days ago
50.

mymjj5    

typo:
She went on saying MJ was "trying" to place a spell on Steven Spielberg?

1352 days ago
51.

mymjj5    

To this financier, Michael Jackson is an undervalued asset
Others have tried to revive the onetime pop star's performing career. Tom Barrack is convinced he's the 'caretaker' to do it.
May 31, 2009|Chris Lee and Harriet Ryan

Tom Barrack, a Westside financier who made billions buying and selling distressed properties, flew to Las Vegas in March 2008 to check out a troubled asset. But his target was not a struggling hotel chain or failed bank.

It was Michael Jackson. The world's bestselling male pop artist was hunkered down with his three children in a dumpy housing compound in an older section of town. At 49, he was awash in nearly $400 million of debt and so frail that he greeted visitors in a wheelchair. The rich international friends who offered him refuge after his 2005 acquittal on molestation charges had fallen away. His Santa Barbara ranch, Neverland, was about to be sold at public auction.

In Jackson, Barrack saw the sort of undervalued asset his private equity firm, Colony Capital, had succeeded with in the past. He wrote a check to save the ranch and placed a call to a friend, conservative business magnate Philip Anschutz, whose holdings include the concert production firm AEG Live.
Fifteen months later, Jackson is living in a Bel-Air mansion and rehearsing for a series of 50 sold-out shows in London's O2 Arena. The intervention of two billionaires with more experience in the boardroom than the recording studio seems on course to accomplish what a parade of others over the last dozen years could not: getting Jackson back onstage.

His backers envision the London shows as an audition for a career rebirth that could ultimately encompass a three-year world tour, a new album, movies, a Graceland-like museum, musical revues in Las Vegas and Macau, even a "Thriller" casino.
"You are talking about a guy who could make $500 million a year if he puts his mind to it," Barrack said recently. "There are very few individual artists who are multibillion-dollar businesses. And he is one."
Others have tried to resurrect Jackson's career but failed, associates say, because of managerial chaos, backbiting within his inner circle and the singer's legendary flakiness.

Even as Jackson's benefactors assemble an all-star team -- "High School Musical's" Kenny Ortega is directing the London concerts -- there are hints of discord. Last week, two men identified themselves as the singer's manager; a month before, a respected accountant who had been handling Jackson's books was abruptly fired in a phone call from an assistant.
But Jackson's backers downplay the problems. "He is very focused. He is not going to let anybody down. Not himself. Not his fans. Not his family," said Frank DiLeo, his current manager and a friend of three decades.
Jackson needs a comeback to reverse the damage done by years of excessive spending and little work. He has not toured since 1997 or released a new album since 2001, but he has continued to live like a megastar.

To finance his opulent lifestyle, he borrowed heavily against his three main assets: his ranch, his music catalog and a second catalog that includes the music of the Beatles that he co-owns with Sony Corp. By the time of his 2005 criminal trial, he was nearly $300 million in debt and, according to testimony, spending $30 million more annually than he was taking in.
Compounding his money difficulties are a revolving door of litigious advisors and hangers-on. Jackson has run through 11 managers since 1990, according to DiLeo.

At least 19 people -- financial advisors, managers, lawyers, a pornography producer and even a Bahraini sheik -- have taken Jackson to court, accusing him of failing to pay bills or backing out of deals. He settled many of the suits. Currently, he is facing civil claims by a former publicist, a concert promoter and the writer-director of his "Thriller" video, John Landis.
John Branca, an entertainment lawyer who represented Jackson for more than 20 years, blamed the singer's financial troubles partly on his past habit of surrounding himself with "yes men." Branca advised Jackson to buy half of the Beatles' catalog in 1985 for $47.5 million. The catalog is now estimated to be worth billions, and the purchase is considered his smartest business decision.

"The paradox is that Michael is one of the brightest and most talented people I've ever known. At the same time, he has made some of the worst choices in advisors in the history of music," said Branca, who represents Santana, Nickelback and Aerosmith, among others. He said he split with the singer because Jackson invited into his inner circle "people who really didn't have his best interests at heart."
The singer's financial predicament reached a crisis point in March 2008 when he defaulted on a $24.5-million loan and Neverland went into foreclosure. Jackson's brother Jermaine enlisted the help of Dr. Tohme Tohme, an orthopedic surgeon-turned-businessman who had previously worked with Colony Capital.

Tohme reached out to Barrack, who said he was initially reluctant to get involved because Jackson had already sought advice from Barrack's friend and fellow billionaire Ron Burkle.
"I said, 'My god, if Ron can't figure it out, I can't figure it out,' " Barrack said.
But he was drawn to the deal. He owns a ranch five miles from Neverland, and his sons were among local children Jackson invited over for field days at the ranch.

With the auction of Jackson's home and possessions just days away, Barrack made the singer a proposition.
"I sat down with him and said, 'Look . . . we can buy the note and restructure your financial empire,' " Barrack said. But, he told him, "what you need is a new caretaker. A new podium. A new engine."
Tohme, who acted as Jackson's manager until recently, recalled the urgency of the situation. "If he didn't move fast, he would have lost the ranch," Tohme said. "That would have been humiliating for Michael."

Jackson and Barrack reached an agreement within seven days. Colony paid $22.5 million and Neverland averted foreclosure.
Jackson has not spoken publicly since a March news conference and his representatives declined to make him available for an interview.
Barrack said his position outside the music industry seemed to endear him to Jackson. "He looks at me like 'the suit.' I have credibility because I don't live in that world. I'm not interested in hanging around him. I'm not interested in girls. I'm not interested in boys. I'm not interested in drugs," Barrack said.

After buying Neverland, Barrack called his friend Anschutz. Barrack said the prospect of helping Jackson, given his recent criminal case, gave Anschutz, a devout Christian, pause. (Anschutz declined to be interviewed.)
Barrack had spent significant time with Jackson and praised him as a "genius" and devoted father. Ultimately, Anschutz agreed to put Jackson in touch with Randy Phillips, the chief executive of his concert subsidiary.
As the head of AEG Live, Phillips oversees a division that grossed more than $1 billion last year and has negotiated such lucrative bookings as Celine Dion's four-year, $400-million run in Las Vegas and Prince's 21 sold-out dates at the O2 Arena in 2007.

Phillips had his eye on Jackson for some time. In 2007, Phillips had approached the singer with a deal for a comeback, but Jackson, who was working with different advisors, turned him down. "He wasn't ready," Phillips recalled.
This time, however, Jackson was receptive. He needed the money, and he has a second, more personal reason: His children -- sons Prince Michael, 7, and Michael Joseph Jackson Jr., 12, and daughter Paris Michael Katherine, 11 -- have never seen him perform live.
"They are old enough to appreciate and understand what I do, and I am still young enough to do it," Phillips quoted Jackson as saying.

Jackson stands to earn $50 million for the O2 shows, "This Is It" -- $1 million per performance, not including revenue from merchandise sales and broadcast rights. Jackson is considering options including pay-per-view and a feature film. But the real money would kick in after his final curtain call in London.
AEG has proposed a three-year tour starting in Europe, then traveling to Asia and finally returning to the United States. Although Jackson has committed only to the O2 engagement thus far, Phillips estimates ticket sales for the global concerts might exceed $450 million. Such a rebound could wipe out Jackson's debt.
"One would hope he would end up netting around 50% of that," Phillips said.
Barrack, the man who set Jackson's comeback in motion, has seen his net worth drop with the financial crisis. Forbes estimated his wealth at $2.3 billion around the time he met Jackson, but he is now merely a multimillionaire. He said that the economic downturn makes Jackson more attractive as an investment because his value has been overlooked: In times like this, he said, "finding little pieces of information that others don't have" is more important than ever.

His company isn't exposed to any risk by working with Jackson. All the money Colony has put up is backed by the value of Neverland and related assets, he said. If Jackson regains firm financial footing, Barrack's company could be a partner in future deals. "When he looks back and says, 'Who took the risk? Who was there?' I mean, he gets it. So that's my hope," Barrack said.
It all depends on what happens July 13 when the lights go down in the O2 Arena. Doubts about Jackson's reliability are widespread because of his long concert hiatus. Those concerns were heightened earlier this month when the show's opening night was pushed back five days. Phillips and Ortega, the director, blamed production problems and said Jackson was ready to perform
Fans demonstrated their faith in Jackson months ago when they snapped up 750,000 tickets for shows through March 2010 in less than four hours. "We could have done 200 shows if he were willing to live in London for two years," Phillips said.

In addition to the more than $20 million AEG is paying to produce the shows, the company is putting its reputation on the line for a performer with a track record of missed performances and canceled dates. "In this business, if you don't take risks, you don't achieve greatness," Phillips said.
But the problems that have bedeviled Jackson in the past -- infighting, disorganization and questionable advisors -- persist.
In an interview last week, Tohme identified himself as the singer's "manager, spokesman, everything" and spoke about the benefits of dealing with business titans Barrack and Anschutz rather than their "sleazy" predecessors. "Michael Jackson is an institution. He needs to be run like an institution," Tohme said.

The next day, however, longtime Jackson associate DiLeo claimed he was Jackson's manager and said Tohme had been fired a month and a half earlier. Tohme denied being fired but declined to comment further.
In April, Jackson fired the accounting firm Cannon & Co., which had worked for him for a year, according to an accountant who worked on his finances. In his corner office high above Century City, Barrack is sanguine about reports of disharmony. "You have the same thousand parasites that start to float back in and take advantage of the situation and that has happened a little at the edges." But, he added, he had confidence in AEG's ability to keep Jackson focused.
The concerts, Phillips acknowledged, are a do-or-die moment for Jackson. "If it doesn't happen, it would be a major problem for him career-wise in a way that it hasn't been in the past," he said.

--

chris.lee@latimes.com

harriet.ryan@latimes.com


http://articles.latimes.com/2009/may/31/entertainment/et-michael-jackson31

1352 days ago
52.

mymjj5    

Michael Jackson seeks to keep Neverland Ranch
February 27, 2008 (CNN)
http://edition.cnn.com/2008/US/02/27/jackson.foreclosure/?iref=hpmostpop

Pop star Michael Jackson will avoid foreclosure on his Neverland Ranch property with a new loan, a Jackson insider told CNN Wednesday.
Do***ents show that Neverland Ranch in Los Olivos, California, is scheduled for a public auction on March 19 at Santa Barbara's downtown courthouse.

But the Jackson source said that won't happen.
"Michael Jackson's ranch is not going to be auctioned off at the courthouse," the Jackson insider said. "The financing is all being worked out."
"There are plenty of lenders willing to work with him. The real estate market is very bad right now and Jackson is being affected just like many other Americans," the source said.
The Santa Barbara County Recorder's Web site lists a "notice of trustees sale" by Jackson and his property lenders, Financial Title Company, filed Monday.

In California, title companies typically represent lenders in foreclosure cases.
A notice of trustees sale cannot be posted earlier than 90 days after a notice of default is filed. That notice is not filed unless a loan is in substantial default, sometimes six months or more past due.
A real estate source inside Santa Barbara County said the trustees filing is only the first step in a long process that could drag on for months.
The real estate source said other options are available to Jackson, including selling the ranch directly to another party or making a payment on his $24.5 million Neverland debt that would satisfy the trustee.
The recorder's Web site also reveals there was a release of lien on Jackson on February 4, showing he paid off all or part of delinquent taxes to the state of California.

"It seems unlikely that someone would pay off back taxes, only to let the ranch go up for auction a few weeks later," said the real estate source.
Jackson has not lived at Neverland since June 2005, after a Santa Barbara County jury found him not guilty of child molestation charges.

http://edition.cnn.com/2008/US/02/27/jackson.foreclosure/?iref=hpmostpop

1352 days ago
53.

mymjj5    

It was Michael Jackson. The world's bestselling male pop artist was hunkered down with his three children in a dumpy housing compound in an older section of town. At 49, he was awash in nearly $400 million of debt and so frail that he greeted visitors in a wheelchair. The rich international friends who offered him refuge after his 2005 acquittal on molestation charges had fallen away. His Santa Barbara ranch, Neverland, was about to be sold at public auction.
_______________________________________________________________
Oh Yeah, this is the image of a guy billionaire investors want to associate with....let alone invest millions of dollars to revive his career .....all out of the goodness of his hearts......ppppllleezzz......all of them are blood suckers who control the media to make themselves look good all the while they are planning to dupe the artist in the long run.

1352 days ago
54.

FlowerPower    

Someone posted a youtube vid on another board where he was saying he made tons of money off ranchers for renting land for their cows.
Posted at 2:12 PM on Dec 9, 2010 by marcia

Hi Marcia, I believe you meant this youtube video
< a href="http://www.youtube.com/watch?v=d0qfBB0Rnjg">http://www.youtube.com/watch?v=d0qfBB0Rnjg

1352 days ago
55.

FlowerPower    

1352 days ago
56.

mymjj5    

Was Michael Jackson Chemically Manipulated for Profit?
Monday, June 29, 2009
by Mike Adams, the Health Ranger
Editor of NaturalNews.com
http://www.naturalnews.com/026517_Michael_Jackson_drugs_pharmas.html#ixzz17jkpI5z4

(NaturalNews) Michael Jackson's death gives us an opportunity to reflect on the way he was treated by the media (and the public) while he was alive. Through his work, Michael Jackson went to great lengths to send a message of love to the world -- to inspire others and add joy to our lives -- and yet he was derided as a monster by the tabloid media while being humiliated by the comedy routines of late-night talk show hosts.

Western culture is cruel to celebrities.
Anyone in a position of notoriety is automatically deemed a fair target for outrageous accusations and slander. As somewhat of a minor celebrity (in a narrow field) myself, I've seen some of this cruelty directed my way, and I can only imagine how much more devastating the cruelty would be at the scale and degree that was thrust upon Michael Jackson throughout his professional career.

Jackson was derided simply for being different. He had unconventional tastes and pursued uncommon lifestyle choices, and many of those choices made conservative people nervous. So they invented lies and played them up for their own personal profit. The whole accusation of Michael Jackson having sexual escapades with young boys was, by any honest accounting, a complete fabrication engineered for nothing more than personal profit.

In fact, Jackson was financially exploited by virtually everyone close to him. His "handlers" were highly-paid promoters who saw Jackson as their ticket to wealth. It might even be argued that they pushed him to the fringe of a pharmaceutical-induced death through their attempts to exploit his work for their own profits.

Again, I sometimes feel exploited in the same way, such as when companies pressure me to write articles about their products even though I'm on a hectic schedule of trying to cover other important topics. With Michael Jackson, though, the pressure must have been a thousand times worse. Hundreds of millions of dollars were on the line, and if Jackson could only be pumped up with enough drugs and makeup to bang out another fifty concerts, the people around him could walk home filthy rich.

Pharmaceuticals as tools of control
Although I have no specific proof of this, it is my belief that pharmaceuticals became the tools by which Michael Jackson's handlers were able to chemically abuse him in their quest for further profits. With the right drugs, even a frail man can be artificially pumped up with enough energy to make a stage appearance -- although at great cost to his vitality. And some of the drugs he was put on have the effect of turning you into a mind-numbed zombie, primed for mental manipulation.

Jackson's handlers, of course, will insist they loved the man like a friend and money had nothing to do with it. Such a claim is easy to verify: Just check the payroll stubs. If the numbers aren't zero, money probably had everything to do with it. (It's easy to be somebody's "friend" when they're paying you a seven-figure income.)

In the end, there's no doubt that Jackson was pumped full of too many drugs for any man to bear. Pharmaceuticals don't cure anything, after all, and the more you take, the more toxic the combinations become. The Sun newspaper in the UK claims Jackson was taking Xanax, Prilosec, Vicodin, Paxil, Demerol, Soma, Dilaudid and Zoloft. That's an extremely toxic combination of drugs that no person should be taking long-term. And yet it seems (from press reports, if you can believe those) that Jackson was on some of these drugs for a very long period of time... decades, in some cases.

Certainly, Jackson himself is not free from responsibility in all this. His seemingly fanatical pursuit of cosmetic surgery might be called a form of self-inflicted medical abuse. Some of the drugs he was taking were no doubt pursued as a way to alleviate the possible pain and scarring resulting from so many surgical procedures. And yet for that, he can only blame himself, as those procedures were voluntary (and entirely unnecessary). Jackson was loved for his voice, his message and his wide-open heart. In no way did he actually need a new face to be a successful, inspiring artist (the face he was born with would have been just fine).


Being really famous leads to extreme isolation
The more he tried to alter his face, though, the more he became the subject of ridicule by the press and his fans. The cruelty of accusations and jokes drove Jackson into extreme isolation, where he could never interact with the real public. Unlike you and I, Michael Jackson couldn't stroll through a mall, or order a sandwich at a restaurant. He couldn't sit anonymously in an airport or meet new friends in a public park. As a result of his super-worldly celebrity status -- combined with outrageous public ridicule for his chosen way of life -- he was more alone in our world than almost anyone.

And in that state of extreme loneliness and isolation, his doctors prescribed powerful, mind-altering psychiatric drugs along with a chemical ****tail of other pharmaceuticals that ultimately killed him. That is the saddest part of this story: That Big Pharma's chemicals have stolen from us yet another amazing individual whose life was cut short by chemical intervention.

While he may have made many poor decisions in his life (and with his health), in no way did Jackson deserve to be killed by Big Pharma. Nor does anyone else deserve such a devastating fate. Yet that same fate continues to hammer down upon a hundred thousand Americans each and every year. Their tombstones are not as elaborate as Michael Jackson's, nor are their funerals as extravagant, but their deaths are just as tragic and unnecessary as the death of the King of Pop.

May he rest in peace, and may the cruel defamation of his character finally be laid to rest at the same time.

1352 days ago
57.

mymjj5    

The spokeswoman, Raymone K. Bain, said in a statement that she had been named general manager of the new Michael Jackson Company, the successor to MJJ Productions.

Ms. Bain's statement said that Mr. Jackson had severed ties with his Bahraini lawyers and his longtime accountants and business managers, Bernstein, Fox, Whitman, Goldman & Sloan. She said he had hired the firm of L. Londell McMillan, "known for business restructurings and turnarounds."

Mr. Jackson had been "rumored" to be on the verge of bankruptcy for some time. But in April his Bahraini lawyers announced that he had restructured his finances in a deal with the Sony Corporation.
http://www.nytimes.com/2006/06/29/business/media/29jackson.html

1352 days ago
58.

Brigha from UK    

48. In a nutshell BrighaFromUK, the people MJ trusted were drugging him, lying to him and stealing from him. That's what happend to MJ's money. (JM0)
Posted at 7:45 AM on Dec 10, 2010 by mymjj5
_____________________________________________
Absolutely agree with you mymjj5.
Many thanks for all the articles you posted. All very interesting.

1352 days ago
59.

mymjj5    

Absolutely agree with you mymjj5.
Many thanks for all the articles you posted. All very interesting.
Posted at 11:21 AM on Dec 10, 2010 by Brigha from UK
______________________________________________________________
Hi BfromUK
Isn't it amazing how many "billionaires" wanted to do business with Michael Jackson all the while calling him a broke has been or a frail man down on his luck.

1352 days ago
60.

mymjj5    

This is the Las Vegas dump MJ and the kids were living in when billionaire Tom Barrack came to his rescue...good grief!
I think everyone has seen the photos of the neighborhood MJ had to settle for during the latter years of his life.....poor, poor MJ and kids had to make ends meet in a 16,000 square foot hole. My oh my, How did they manage?
(I know the fans with a brain understand this but for the haters: this home went through foreclosure...however since MJ was only renting it, the foreclosure had nothing to do with Michael Jackson)!!!!

Michael Jackson’s former Las Vegas home fetches $3.1 million
By Buck Wargo
Wednesday, Jan. 27, 2010 | 9:30 a.m.

2785 S. Monte Cristo
2785 S. Monte Cristo
Terms of UseSun Archives

■Michael Jackson eyed Vegas ‘Wonderland’ (8-13-2009)
A 16,400-square-foot home where Michael Jackson resided for six months in late 2007 and early 2008 has sold for $3.1 million.
Jackson rented the home at 2785 S. Monte Cristo, which is southeast of the intersection of Buffalo Drive and Sahara Avenue.
The home was ultimately taken back by the lender, Eastern Savings Bank, in lieu of it going through foreclosure with the previous owner, said Carolyn Mullany, a Realtor with Coldwell Banker Premier.
An offer was made on the property Friday and the sale was closed and recorded Tuesday, she said. A California couple, a doctor and a lawyer with property holdings in Asia, acquired the home by paying cash, she said.
The estate sits on one acre. It is gated and has 8-foot walls surrounding it.
The home features seven bedroom suites, three office suites, an elevator, large formal rooms for entertainment, a theater room and orchestra loft.
The master bedroom measures 2,000 square feet with a large covered patio, his and her closets, a 10-head shower and Jacuzzi tub, Mullany said. The master bedroom also has a secret exit to a rooftop deck designed for sun bathing.
The fitness room features a dance floor and dry sauna.
It also has basketball and tennis courts.
Michael Jackson’s use of the home generated a lot of interest and calls about the property, Mullany said.

http://cdn.photos.tmz.com/gallery_images/images/2010/01/michael_jackson_las_vegas_home_sale_01_0009_photo_800_356731_full.jpg

http://mjforum-bymaher.all-forum.net/michael-jackson-photos-f16/michael-jackson-las-vegas-home-t3366.htm

http://www.lasvegassun.com/news/2010/jan/27/michael-jacksons-former-las-vegas-home-fetches-31-/

1352 days ago
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