Wacko Jacko Broke-o

[42nd-delay]

NY Times article (http://www.nytimes.com/2004/02/12/arts/music/12JACK.html?hp)



Michael Jackson is near insolvency as he continues to pile up debt, sapping his last credit reserves, several close financial advisers say.

Mr. Jackson faces an immediate cash crisis with a $70 million loan from the Bank of America that is due on Tuesday and has no money to repay it, the advisers said. But Al Malnik, a Miami entrepreneur who is helping repair Mr. Jackson's finances, said that he was trying to have the loan extended.



One interesting side-note:

"The loan is guaranteed by the Jackson music catalog, which would revert to the Bank of America if Mr. Jackson defaulted, said several of his advisers."


Wonder what his defense lawyers think about this...

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"42nd-delay is the only person who's making sense." - Ron, 3-12-02

[monsterone]

dibs on the elephant man's bones at the estate auction.

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[A.J.]

Please God -- let him lose the Beatles catalogue.

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[WRESTLINGFAN]

Please God -- let him lose the Beatles catalogue.



The goofy SOB should be raking in tons of money with that collection

FIRE SATHER!!!!!!!

[yarpwizard]

Maybe he should ask Mike Tyson to be his financial advisor.

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A mind is a terrible thing to dyworf.

[MattyBronx]

If he's aquitted Jacko will be doing infomercials with OJ a few weeks later. He'll be OK.

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[TheMojoPin]

Please God -- let him lose the Beatles catalogue.

I'd agree...but odds are the insanely rich Paul McCartney will just pick them up, and if his actions and music in the last 15 years or so are any indication, even HE doesn't deserve them.

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[HBox]

If he doesn't watch out, he'll be on his backo pretty soon.

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[Doctor Manhattan]

I'd agree...but odds are the insanely rich Paul McCartney will just pick them up, and if his actions and music in the last 15 years or so are any indication, even HE doesn't deserve them.


I'm not sure I agree. Paul was upset about the Jackson's selling the songs to be used in some comercials. I remember Latoya saying something in an interview like "Well it's a business, what do you expect us to do with the songs?"

I think Paul would have more respect for those songs than the Jackson's do.

Well, Maybe Bank of America doesn't want to sell the rights once they get them. Perhaps they'd like to put out a few new compilations of the music...

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[TheMojoPin]

I'm not sure I agree.

Go listen to his last, oh, eight or nine albums.

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This message was edited by TheMojoPin on 2-13-04 @ 11:35 AM

[A.J.]

I think Paul would have more respect for those songs than the Jackson's do.

No -- he might try to switch the songwriting credits to "McCartney-Lennon" again.

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[WindowSill]

Wacko Jacko Broke-o


Heheh I get it

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