Excellent analysis Sternschen and Soldier of Love! Thank you so much for all your research. These posts by user "Back" tie in VERY nicely with some of the points you two have brought up. Some comments are by other users as well...they too are interesting, although some are hard to follow.
Excellent analysis Sternschen and Soldier of Love! Thank you so much for all your research. These posts by user "Back" tie in VERY nicely with some of the points you two have brought up. Some comments are by other users as well...they too are interesting, although some are hard to follow.
I'm reviewing the links you've included. I always want to tie in our theories with what Back has to say - I believe in him! He is clearly and brilliantly ON POINT.
Thanks for the Back reminder, BTC. I wish I could extract his statements and place directly in this thread for all to see.
I wanted to bump this thread up. Something occurred today that made me take a second look at everything. I believe this post is very very important in understanding everything thats going on. I think the pieces fit together better once we realize how much financial power Michael Jackson had and has.
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I want to clarify a silly rumor - the Beatles catalogue...
New postby Alem » Wed Jul 21, 2010 7:23 pm
“I want to clarify a silly rumor - the Beatles catalogue is not for sale, has not been for sale and will never be for sale” – Michael Jackson
One of the most important rumours that MJ faced were the stories about his finances. This was the rumour that his enemies always used to control his image. In order for them to sensationalize and make up stuff about "Michael Jackson" you first have to believe that he was broke and always in a bad situation.
The best way to break someone’s power is to convince the public that they are going broke.
That that is exactly what THEY did.
I wanted to go to the bottom of this mess and clarify the situation. I believe this has a lot to do with what is going on AS WE SPEAK.
The media have been stating since 2003 that Michael is a broke man, his extravagant lifestyle and legal fees has taken its tool on his finance. With an estimated debt of over 400 million dollars the King of Pop sunny days lays behind him.
Ok, let me begin.
Forbes.com estimates his net worth at around $350 million, but this isn't the full scoop on his net worth. Michael is currently between 200 and $270 million in debt that is a fact not lies, however this does not mean that he is on the verge of filing bankruptcy. Why is he in debt? I know legal fees are expensive but it don’t cost as near as $200 million. The answer is simple, in order to invest you loan. There is an expression that goes like this:
How do billionaires spend their money?
Answer: They don't. They use other people’s money.
Michael Jackson is not the only one using this strategy ALL the infamous billionaires is doing the exact thing. Look at Donald Trump: by 1994 Trump had repaid much of his personal debt and some of the $3.5 billion in business debt.
He had debt up to his ear but managed to revive himself, and that was exactly what Michael Jackson was doing. But did the mainstream media report this? NO.
Were the media dogging Donald Trump when he saw red? NO. The only treat Michael with this dishonour. .
If you were to remove his dept he would have around 50 million to spend. Not bad huh? But it gets better.
Michael had a lot of real estate assets estimated worth around $650 million, .and then don’t forget the SONY/ATV Music Catalogue which is estimated at between $500 million to whopping $1 billion. And unlike many artists Michael Jackson OWNED his own songs and is paid every time his songs play in radio/clubs/mp3. When SONY bought the other 50 % in 1995, Michael Jackson made sure that the other half did not include any of HIS songs.
Michael P. Schulhof, President and CEO of Sony, welcomed the merger and praised Jackson for his efforts in the venture. "Michael Jackson is not only the most successful entertainer in history; he is also an astute businessman.. Michael understands the importance of copyrights and the role they play in the introduction to new technologies.
Jackson's other publishing firm, MiJac Music Inc, which publishes songs written by Jackson himself and which is administered by competitor Warner/Chappell Music, is valued to be worth at least $75 million.
In mid 2007 Jackson purchased Eminem’s music catalogue for $370 million (which is ironic since Eminem publicly disses Michael in one of his video’s portraying him as a child molester). Guess who got the final laugh? The purchase gives Michael the rights to all of Eminem’s music under Shady Records, including 50 cent's music that was released under that label. So that too would bring in about $10 million a year for the King. Michael is laughing all the way to the bank. Someone who is bankrupt could not afford a record label catalogue for $370 million.
So if you add all of this together and subtract his debt, his total net worth is around $1.3 billion. .Michael Jackson is not broke.
But this raises another question.
If he has $1.3 billion in the bank, why can’t he pay off his debt? Simply because the $1.3 billion isn't liquid cash. If you read the terms on Michael Jackson’s $350M USD loan, it said monthly payments will come FROM EARNINGS of his Sony ATV catalogue. It means he will already make good use of the FUTURE earnings of Sony ATV catalogue before he even has it in his hands. He would have doubled the value of his earnings by reinvesting it early. By the time that his Sony ATV catalogue EARNINGS have already paid the 350 Million USD loan, he already increased its value to $700 Million USD or more because he has already invested it in another money-earning venture which are more catalogues.
This above FACTS makes me question Michael Jackson real intention singing a contract to do 50 shows (10 or 30 or whatever the story is). Many says that is because of the money, but I beg to differ. If Michael only wanted to do it for the money then he could have easily done some private shows to rich billionaires/millionaires who are willing to pay several millions to see Michael dance and sing. .This would generate more money than AEG ever would provide. Jack Wishna talked about a show option he offered Jackson. When the interviewer asked how much MJ could have made he said "a billion$". But this was not Michael Jackson style. He wanted extravagant shows and wanted to prove to the fans and the doubters that he still got it. He didn’t want to show his talent to a few people, the WHOLE world would know.
Michael is a billion dollar man walking, I am sorry to say but THEY can’t accept that a black man is successful owing all his songs, making a comeback, having so much loving fans from all races. It is too much, they need to diminish that. Good to know that you know the truth.
Would like to hear your comment regarding the issues I brought up.
Thanks so much for your work, Sternschen and SoldierofLove! This is extremely interesting.
Reading these BACK posts again, I am reminded of how knowledgeable he sounds about lots of things... <!-- s:shock: -->:shock:<!-- s:shock: --> For instance, on 02-06-2007 BACK wrote, in discussing the value of music catalogs:
<You guessed it! Said artist [i.e. Elvis], though not my cup of tea, would prove "Hill of Beans" not to be worth a "hill of beans".
Just as MJO so effectively stated, VALUE, and my added suggestion of VARIETY, puts the catalogues worth into the stratosphere. I repeat, 4bil [i.e. 4 billion] may be on the conservative side of estimates.>
I wonder if MJO means MJ? If yes, is there any publicly-available tape where Michael talks about the value of music catalogs?! I'm not aware of any such thing... Also:
1. BACK seems very knowledgeable about the value of the ATV catalog (he estimates it at being much higher than the reported $1-$1.2 billion) and music catalogs in general. And he said that Elvis is not his "cup of tea". <!-- s;) -->;)<!-- s;) -->
2. BACK also wrote a few times that the ATV catalog wasn't for sale, and "they ain't gonna get it". How could he know that for sure?!
BACK, more than anyone else, looks like a real insider to me... And by "insider" I mean someone who either lived in Michael Jackson's head ( <!-- s;) -->;)<!-- s;) --> ) or else knew a great deal about Michael's thoughts on certain things.
Guys do you remember the interview that Michael did with Mr. Bashir. When Mr. Bashir asked Michael in the limo How much do you think you are worth? Mr. Bashir then replied after that Millions, Michael stated no more than that, then Mr. Bashir stated Billions, Michael was reluctant to take how much he is worth, but from the comment I believe that he had stated was in the Billions or something like that. This is pretty interesting.
I notice another thing, if the public(not talking about the fans) believes that you are broke, then they do not have to worry about you financially. This reminds me of the old saying that my father would say " Keep them Fooled.", let them like one thing, when it is something totally different.
Know what is so interesting is that only the ELITE people(people that has lots of money) knows that Michael is not broke. As I have stated before Michael allows you to see what he wants you to see. Do you remember the part in the TDCAU song in which Martin Luther King quote is paid. Now you tell me if Michael is not demonstrating this demonstration of freedom. Just as it was stated on a previous thread,
how do we know how much Michael is really worth. He is more powerful, then what the world think he is.
MJ owns the publishing rights to his own music (among other things)... Those rights by themselves come to $1 billion+ (just like the Beatles catalog; possibly $4-5 billion). So yes, MJ must be worth billions. And he should have a steady flow of revenue every year.
Michael Jackson is a really reaaaallly good businessman….
I’m even more convinced that Michael is alive… He never ever had any money problems…
How does it started...
Little contribution to your Q - and keep attention one more time to IMPORTANT MESSAGE - WHY all the hoax is on, PLZ, chek following thread http://www.michaeljacksonhoaxforum.com/phpbb2/viewtopic.php?f=101&t=16375
MJ & His Money the Opening Story on MSN.com right now!
from ‹ General Hoax Investigation ‹ Michael's Life ‹ Michael's Business & Alleged Dept
Who's controlling Michael Jackson's financial empire?
Johnnie L. Roberts
TheWrap
No one said that ruling Michael Joseph Jackson's inner circle would be a smooth moonwalk.
But just a year and a half after the death of the superstar, lawyer John G. Branca is about to oversee the release of a posthumous album on Dec. 14 under a new $250 million deal for the estate, even as he negotiates a way out of the looming $300 million debt that Jackson left behind.
John Branca has never embraced the limelight. But in a months-long investigation by this reporter, comprising of secret documents and two dozen interviews, including a lengthy taped interview with Branca himself, TheWrap reveals the complicated relationship between the singer and the lawyer that Jackson would hire for the last time within a week of his death.
In that short final tenure, Branca was left permanently in charge of one of the most important music legacies of our time.
Branca's roller-coaster relationship with Jackson unfolds over 30 years of hiring and refiring.
More from TheWrap: Lost 2003 Michael Jackson video
It is punctuated by moments of brilliance, such as when the lawyer orchestrated Jackson's purchase of the Beatles' song catalogue, ATV Music, perhaps the most important deal of Jackson's life.
But some might conclude that Branca is no hero at all. A deal in 2003 to sell Jackson's interests in the Beatles and Mijac catalogues to the investment bank Goldman Sachs may lead some to question Branca's role in Jackson's business affairs.
Either way, his importance in the constellation of Michael Jackson's firmament cannot be dismissed.
The release of Jackson's first posthumous album in December comes on the heels of record-setting income of $275 million in the year since Jackson died. According to Forbes magazine, the sum topped the year's list of entertainer's posthumous earnings.
From 2003 to 2004, virtually the identical financial crisis -- almost $300 million of debt, with the songs at stake -- was met with a momentous initiative by a powerful cast of financial players that included Wall Street-savvy Goldman Sachs, veteran music entrepreneur Charles Koppelman and a Florida entrepreneur dogged by mob suspicions, Alvin Malnik.
A cache of confidential documents from the seven-year-old episode -- a copy of which was provided to this reporter by a member of the group -- reveals an intriguing inside look at this momentous effort, which long has been an object of media fascination and Internet-based conspiracy theorists.
Also: See photos of Michael Jackson
The documents range from trust materials and loan records, to papers bearing on facets of Jackson's dealings with Sony, where his music career was anchored. As best can be determined, few, if any, outsiders have had access to the nearly 300-page paper trail.
Coupled with some two dozen interviews, the materials help paint a panoramic picture of Jackson's precarious financial status. They also offer a sharper portrait of the complex relationship between Jackson and Branca.
In the documents, Goldman's master financial alchemists began proposing a venture to position Jackson as "the Bill Gates of the music industry" and described how not only the $300 million debt might be whittled, but also detailed how the beleaguered legend could walk away with perhaps $1.3 billion -- with the Wall Street firm exiting even richer.
But only if he would sell his interest not only in Sony/ATV but in Mijac, the catalogue of Jackson's own hits. According to the secret documents, Goldman was even poised to "drag" Jackson along into a deal to sell them.
As the proposal evolved, its fundamental flaw -- that Jackson would forfeit the rights to his songs -- remained clearly apparent to Branca. More than anyone, Branca knew that owning the songs was one of Jackson's great passions and that the singer worried greatly about them slipping from his grasp.
So why, then, had Branca worked so hard, as the secret files to indicate, for an outcome most feared by his client?
According to entrepreneur Malnik, Branca stood to collect $17 million from the Goldman dealings for the 5 percent that he owned in Jackson's stake in the Beatles catalog.
In a July 2003 missive on his firm's letterhead, Branca essentially put Goldman on notice that it ultimately must ensure Jackson's ongoing obligation -- including "direct payment of this firm's 5%" -- if the proposal progressed.
Alas, the Goldman proposal, more than a year in the making, got no further than the paper on which it was written. Rather, it was scuttled by Jackson against a backdrop of behind-the-scenes hijinks that seemed to mirror his final, sad decade, which roiled with scandals, a criminal trial, epic debt and an ever-rotating inner circle.
In a statement, Goldman Sachs confirmed its role, noting that its private equity arm was involved. "Several years ago, GS Capital Partners engaged with Mr. Jackson's advisers when they were trying to generate liquidity under difficult circumstances," Goldman said. "At the time, we were broadly interested in acquiring music publishing assets, and this was one of many deals we looked at."
The bank, which wouldn't comment specifically on its intent to "drag" Jackson into a transaction, concluded: "We ultimately decided not to pursue the acquisition of these assets."
As for Branca, by the time the deal collapsed, the super-lawyer had been fired.
It was not the first time. Jackson repeatedly fired Branca, whose firm Ziffren, Brittenham, Branca, Fischer, Gilbert-Lurie, Stiffelman, Cook, Johnson, Lande & Wolf is one of the entertainment industry's most powerful.
Indeed, in June 2009, within a week of Jackson's death, Branca returned to the fold after a three-year break up. Six days after Jackson's drug-fueled death -- and having spoken to him only once in three years -- Branca, along with longtime Jackson family friend John McClain, emerged as co-executor of the tragic icon's extraordinary estate.
This summer, however, Branca became preoccupied with Jackson's massive $300 million bank debt, due this month, against the estate's crown jewel -- one-half interest in Sony/ATV Music Publishing that comes due next month.
At the core of Sony/ATV's enviable collection of rights to songs such by artist such as Elvis, Bob Dylan and Eminem, is the Beatles song catalog, a 20th century musical treasure that Branca once famously arranged for Jackson to own outright.
Today, Sony/ATV, which Sony Corp. co-owns, is worth at least $1.6 billion, a valuation substantially attributable to the Beatles.
The due date for the mammoth loan loomed this month, and missing it might have meant a loosening of the estate's grip on its half of Sony/ATV. But Branca beat the clock by months, arranging to refinance the loan in September through the Swiss financial services giant, UBS.
Branca had a previous encounter with the songs and the debt.
Report this postReply with quoteRe: MJ & His Money the Opening Story on MSN.com right now!
by VeryLittleSusie » Wed Dec 08, 2010 10:17 pm
Who's controlling Michael Jackson's financial empire?
Johnnie L. Roberts
TheWrap
No one said that ruling Michael Joseph Jackson's inner circle would be a smooth moonwalk.
But just a year and a half after the death of the superstar, lawyer John G. Branca is about to oversee the release of a posthumous album on Dec. 14 under a new $250 million deal for the estate, even as he negotiates a way out of the looming $300 million debt that Jackson left behind.
John Branca has never embraced the limelight. But in a months-long investigation by this reporter, comprising of secret documents and two dozen interviews, including a lengthy taped interview with Branca himself, TheWrap reveals the complicated relationship between the singer and the lawyer that Jackson would hire for the last time within a week of his death.
In that short final tenure, Branca was left permanently in charge of one of the most important music legacies of our time.
Branca's roller-coaster relationship with Jackson unfolds over 30 years of hiring and refiring.
More from TheWrap: Lost 2003 Michael Jackson video
It is punctuated by moments of brilliance, such as when the lawyer orchestrated Jackson's purchase of the Beatles' song catalogue, ATV Music, perhaps the most important deal of Jackson's life.
But some might conclude that Branca is no hero at all. A deal in 2003 to sell Jackson's interests in the Beatles and Mijac catalogues to the investment bank Goldman Sachs may lead some to question Branca's role in Jackson's business affairs.
Either way, his importance in the constellation of Michael Jackson's firmament cannot be dismissed.
The release of Jackson's first posthumous album in December comes on the heels of record-setting income of $275 million in the year since Jackson died. According to Forbes magazine, the sum topped the year's list of entertainer's posthumous earnings.
From 2003 to 2004, virtually the identical financial crisis -- almost $300 million of debt, with the songs at stake -- was met with a momentous initiative by a powerful cast of financial players that included Wall Street-savvy Goldman Sachs, veteran music entrepreneur Charles Koppelman and a Florida entrepreneur dogged by mob suspicions, Alvin Malnik.
A cache of confidential documents from the seven-year-old episode -- a copy of which was provided to this reporter by a member of the group -- reveals an intriguing inside look at this momentous effort, which long has been an object of media fascination and Internet-based conspiracy theorists.
Also: See photos of Michael Jackson
The documents range from trust materials and loan records, to papers bearing on facets of Jackson's dealings with Sony, where his music career was anchored. As best can be determined, few, if any, outsiders have had access to the nearly 300-page paper trail.
Coupled with some two dozen interviews, the materials help paint a panoramic picture of Jackson's precarious financial status. They also offer a sharper portrait of the complex relationship between Jackson and Branca.
In the documents, Goldman's master financial alchemists began proposing a venture to position Jackson as "the Bill Gates of the music industry" and described how not only the $300 million debt might be whittled, but also detailed how the beleaguered legend could walk away with perhaps $1.3 billion -- with the Wall Street firm exiting even richer.
But only if he would sell his interest not only in Sony/ATV but in Mijac, the catalogue of Jackson's own hits. According to the secret documents, Goldman was even poised to "drag" Jackson along into a deal to sell them.
As the proposal evolved, its fundamental flaw -- that Jackson would forfeit the rights to his songs -- remained clearly apparent to Branca. More than anyone, Branca knew that owning the songs was one of Jackson's great passions and that the singer worried greatly about them slipping from his grasp.
So why, then, had Branca worked so hard, as the secret files to indicate, for an outcome most feared by his client?
According to entrepreneur Malnik, Branca stood to collect $17 million from the Goldman dealings for the 5 percent that he owned in Jackson's stake in the Beatles catalog.
In a July 2003 missive on his firm's letterhead, Branca essentially put Goldman on notice that it ultimately must ensure Jackson's ongoing obligation -- including "direct payment of this firm's 5%" -- if the proposal progressed.
Alas, the Goldman proposal, more than a year in the making, got no further than the paper on which it was written. Rather, it was scuttled by Jackson against a backdrop of behind-the-scenes hijinks that seemed to mirror his final, sad decade, which roiled with scandals, a criminal trial, epic debt and an ever-rotating inner circle.
In a statement, Goldman Sachs confirmed its role, noting that its private equity arm was involved. "Several years ago, GS Capital Partners engaged with Mr. Jackson's advisers when they were trying to generate liquidity under difficult circumstances," Goldman said. "At the time, we were broadly interested in acquiring music publishing assets, and this was one of many deals we looked at."
The bank, which wouldn't comment specifically on its intent to "drag" Jackson into a transaction, concluded: "We ultimately decided not to pursue the acquisition of these assets."
As for Branca, by the time the deal collapsed, the super-lawyer had been fired.
It was not the first time. Jackson repeatedly fired Branca, whose firm Ziffren, Brittenham, Branca, Fischer, Gilbert-Lurie, Stiffelman, Cook, Johnson, Lande & Wolf is one of the entertainment industry's most powerful.
Indeed, in June 2009, within a week of Jackson's death, Branca returned to the fold after a three-year break up. Six days after Jackson's drug-fueled death -- and having spoken to him only once in three years -- Branca, along with longtime Jackson family friend John McClain, emerged as co-executor of the tragic icon's extraordinary estate.
This summer, however, Branca became preoccupied with Jackson's massive $300 million bank debt, due this month, against the estate's crown jewel -- one-half interest in Sony/ATV Music Publishing that comes due next month.
At the core of Sony/ATV's enviable collection of rights to songs such by artist such as Elvis, Bob Dylan and Eminem, is the Beatles song catalog, a 20th century musical treasure that Branca once famously arranged for Jackson to own outright.
Today, Sony/ATV, which Sony Corp. co-owns, is worth at least $1.6 billion, a valuation substantially attributable to the Beatles.
The due date for the mammoth loan loomed this month, and missing it might have meant a loosening of the estate's grip on its half of Sony/ATV. But Branca beat the clock by months, arranging to refinance the loan in September through the Swiss financial services giant, UBS.
Branca had a previous encounter with the songs and the debt.
Inside Secrets of the Goldman Deal
By Johnnie L. Roberts
Published: December 05, 2010 @ 8:46 pm
Print this page EmailShare33Share72 The transaction outlined in the secret Goldman file would have been the culmination of an ambitious proposal to salvage Michael Jackson’s crumpled financial life. Jackson owed $270 million to Bank of America, which could take control of his songs had he missed a looming due date.
Under the Goldman proposal, he’d forfeit the music -- an outcome that he fiercely wanted to avoid -- but emerge with a horde of as much as $1.3 billion.
The confidential files from those days were provided by a member of the Goldman Sachs group, which grew out of a chain of relationships started by “Rush Hour” director Brett Ratner in late 2002. (Click on documents to enlarge.)
Acting as Jackson’s adviser, Charles Koppelman, the veteran entertainment executive and investor, recruited Goldman Sachs and worked closely with two of its private-equity aces, Gerry Cardinale and Henry Cornell, in crafting the proposal.
Ahead of the proposal, he and Florida businessman Al Malnik also arranged to double -- to $70 million -- one of Jackson’s two loans with Bank of America, where a Koppelman friend, Jane Heller, happened to handle his and Jackson’s personal accounts.
See the full document: Jackson's $70M Loan
The confidential Goldman documents detail a proposal with several steps:
How Michael Jackson Nearly Lost His Prized Music Catalog
The Secret Probe That Got Branca Fired>> First, Goldman and Jackson become 50-50 owners in a new company, Music LLC.
>> Next, Music forms a separate company, “Newco,” with new partners -- Sony, with its half of the Beatles, and Goldman putting up money.
>> Newco’s assets would be 100 percent of Sony/ATV (the Beatles) and Mijac (Jackson’s hits) and Goldman (more cash).
>> Newco would swallow Warner Music Group’s music publisher, Warner-Chappell, and combine it with Sony-ATV.
See: Goldman's Secret Rescue Plan and The Term Sheet
A target list also included other publishers -- arms of Universal Music Group, BMG or EMI. The goal: industry dominance.
Jackson’s original stake would shrink as more investors entered the Goldman-crafted venture. “Like Bill Gates, [Jackson] would have a smaller stake in a multibillion-dollar company,” Goldman declared in a talking-point memo dated April 15, 2003. (See: Michael Jackson = Bill Gates)
Within five years, Goldman’s typical time frame for such investments, all would have been monetized in a sale of the venture, most likely to Sony Corp. By Goldman’s projections, Jackson’s share would be $700 million to $1.3 billion.
But backend riches didn’t solve Jackson’s shorter term crisis of repaying the $270 million bank debt. Not to worry. A $135-million Goldman loan would retire the $70-million Bank of America loan and $7-million due Sony. He would catch up on $12 million in overdue monthly bills and have a few million as a cushion.
« Willie Nelson Picked Up for Pot Possession Box Office: 'Tangled' Has 2nd Best T-Giving Opening Ever at $69M » The Secret Probe That Got Branca Fired
By Johnnie L. Roberts
Published: December 05, 2010 @ 8:48 pm
Print this page EmailShare33Share77 It’s known as the “Interfor Report,” after the Manhattan-based corporate espionage firm, Interfor Inc.
The contents -- based on a private investigation by the firm on Michael Jackson’s behalf in 2002 and 2003 -- included stunning assertions about John Branca, the entertainer’s on-again, off-again music attorney for 30 years and now co-executor of his estate.
Interfor’s investigation, "found a tight business relationship between Branca and Tommy Mottola,” then-CEO of Sony Music, where Jackson was an artist, according to an excerpt from the firm’s final report. The excerpt added: “Interfor has begun investigating the flow of funds from Jackson through Mottola and Branca into offshore accounts in the Carribean [sic].”
Read the excerpt.
The investigation, which apparently began in late 2002, provided no credible evidence to corroborate those and other assertions. And the probe may have been little more than part of an elaborate smear campaign intended to influence the beleaguered Jackson to fire Branca.
If so, it was successful.
“This is to confirm that I am terminating the services of you and your firm effective upon delivery of this letter,” Jackson wrote the attorney in February 2003. “You are commanded to immediately cease expending effort of any kind on my behalf…You are specifically instructed to transfer any funds you are holding in trust for me…”
How Michael Jackson Nearly Lost His Prized Music Catalog
Inside Secrets of the Goldman DealBranca declined repeated overtures for further comment after having granted this reporter a lengthy taped interview last summer.
Mottola, who abruptly resigned from Sony a month before Jackson fired Branca, called the assertion about off-shore accounts involving him "nonsense." But in an interview Sunday evening, he also added that he would have been unaware of any offshore accounts established by Branca, Jackson or both. It's "not anything that a multinational corporation like Sony" would have been involved in during his tenure, Mottola reiterated.
It’s unclear who ordered the investigation. But the report, dated April 15, 2003, was prepared for an attorney with Hale Lane Peek Dennison & Howard, the firm that Jackson hired to succeed Branca. In a brief interview in June, the lawyer, Fred D. Gibson III, confirmed that Jackson was a client of the firm.
(There are some indications that the report in some way figured in Jackson’s child molestation trial in 2005, and it has been grist for internet conspiracy theorists apparently for years. More recently, Joe Jackson filed the Interfor excerpts in his son’s probate case in an unsuccessful effort to oust Branca as co-executor.)
The report materialized in 2003 amid a complex, and ultimately aborted, effort by a new inner circle of Jackson financial advisers, including Goldman Sachs, to craft a bailout of the beleaguered entertainer. With the due date on the horizon, Jackson owed a breathtaking $270 million to Bank of America. And a default would mean Jackson’s probable loss of, among other things, his most prized assets -- half share in Sony/ATV Music Publishing, repository of the Beatles song catalog, and Mijac, the catalogue of his own songs, including “Beat It” and “Billy Jean.”
THANX A LOT VeryLittleSusie And by RunFaYaLife <!-- s:) -->:)<!-- s:) --> <!-- s:) -->:)<!-- s:) --> GREAT FIND!!
Michael Jackson: secret business genius?
Jan. 27, 2011, 4:03 PM EST
Zack O'Malley Greenburg
Forbes.com
In 2010 Michael Jackson earned $275 million -- more than Beyoncé, Lady Gaga, Madonna and Jay-Z combined -- despite the fact that he was no longer alive.
Though much of that total can be attributed to the swell of nostalgia that boosted sales of all things Michael in the months following the King of Pop's death, a sizable part is the product of his underrated business acumen.
To be sure, Jackson's spending habits could put a Russian oligarch to shame. He blew the profits from sales of 750 million records on extravagances ranging from $10,000-a-night hotel stays to the construction and upkeep of his sprawling Neverland Ranch. Keeping money was not one of Jackson's strong suits. But piling up stacks of it -- and finding unusual ways to ensure that more would follow -- was one of his many talents.
Comments
very interesting.. thanks
I'm reviewing the links you've included. I always want to tie in our theories with what Back has to say - I believe in him! He is clearly and brilliantly ON POINT.
Thanks for the Back reminder, BTC. I wish I could extract his statements and place directly in this thread for all to see.
Reading these BACK posts again, I am reminded of how knowledgeable he sounds about lots of things... <!-- s:shock: -->:shock:<!-- s:shock: --> For instance, on 02-06-2007 BACK wrote, in discussing the value of music catalogs:
<You guessed it! Said artist [i.e. Elvis], though not my cup of tea, would prove "Hill of Beans" not to be worth a "hill of beans".
Just as MJO so effectively stated, VALUE, and my added suggestion of VARIETY, puts the catalogues worth into the stratosphere. I repeat, 4bil [i.e. 4 billion] may be on the conservative side of estimates.>
I wonder if MJO means MJ? If yes, is there any publicly-available tape where Michael talks about the value of music catalogs?! I'm not aware of any such thing... Also:
1. BACK seems very knowledgeable about the value of the ATV catalog (he estimates it at being much higher than the reported $1-$1.2 billion) and music catalogs in general. And he said that Elvis is not his "cup of tea". <!-- s;) -->;)<!-- s;) -->
2. BACK also wrote a few times that the ATV catalog wasn't for sale, and "they ain't gonna get it". How could he know that for sure?!
BACK, more than anyone else, looks like a real insider to me... And by "insider" I mean someone who either lived in Michael Jackson's head ( <!-- s;) -->;)<!-- s;) --> ) or else knew a great deal about Michael's thoughts on certain things.
I notice another thing, if the public(not talking about the fans) believes that you are broke, then they do not have to worry about you financially. This reminds me of the old saying that my father would say " Keep them Fooled.", let them like one thing, when it is something totally different.
Know what is so interesting is that only the ELITE people(people that has lots of money) knows that Michael is not broke. As I have stated before Michael allows you to see what he wants you to see. Do you remember the part in the TDCAU song in which Martin Luther King quote is paid. Now you tell me if Michael is not demonstrating this demonstration of freedom. Just as it was stated on a previous thread,
how do we know how much Michael is really worth. He is more powerful, then what the world think he is.