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the arabian nights

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the true criminals - AEG?
January 27, 2010, 04:18:48 PM
sorry, to go on and i have noticed that i go on about aeg, so i t hought i would start this thread so i can rant. please join in?

listen to this on TINI - this is not it.
i will add the the thread as time goes on
[youtube:34gns9hj]http://www.youtube.com/watch?v=96ga9Q3E830&feature=player_embedded[/youtube:34gns9hj]
Last Edit: February 20, 2010, 03:59:58 PM by the arabian nights
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Re: sorry but i've got a down with AEG
January 27, 2010, 04:26:45 PM
[youtube:2mii0egi]http://www.youtube.com/watch?v=BxpT6O4wLgs[/youtube:2mii0egi]
Last Edit: December 31, 1969, 06:00:00 PM by Guest
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Re: sorry but i've got a down with AEG
February 13, 2010, 03:59:01 PM
sorrrry i let this thread go cold

this vid below, got me so upset

so dear frank
[youtube:1knzfyf5]http://www.youtube.com/watch?v=1cNeJjA6LlM[/youtube:1knzfyf5]
at 3.10 he says michael had told him last night that he really want to do the concerts - hi mike's supposed to be dead!!!!!

 at 3.20 he say that they talked about doing the 50 shows and then doing 20 stadiums in japan
 at 3.32 he said that mike knew he had to do it
Last Edit: December 31, 1969, 06:00:00 PM by Guest
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Re: the true criminals - AEG
February 13, 2010, 05:43:11 PM
mike on sony

who said he wasn't upset with them?

[youtube:3jmg9ywb]http://www.youtube.com/watch?v=o9ApSk2B8Ms&feature=related[/youtube:3jmg9ywb]
Last Edit: December 31, 1969, 06:00:00 PM by Guest
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Re: the true criminals - AEG
February 16, 2010, 03:31:20 PM
[youtube:2u39eewt]http://www.youtube.com/watch?v=yO9-JxeDiWw[/youtube:2u39eewt]

aeg  say it was 31 shows, the contract says 38 shows, mike says 10 shows but 50 shows were scheduled

what is the truth
Last Edit: December 31, 1969, 06:00:00 PM by Guest
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Re: the true criminals - AEG
February 19, 2010, 05:51:21 PM
Has anyone read or posted this article?
[url]http://www.thecommentfactory.com/michael-jackson-is-still-exploited-in-death-aeg-and-dr-death-should-both-pay-2666[url]

Michael Jackson is still exploited in death. AEG and Dr. Death should both pay
By Sandra Sasvari

NOTE: First of all, I would like to make it clear that what is expressed below is my personal reflection and opinion only. I do not claim this to be the truth, I am merely expressing what I believe to be true on a personal level. I have no insight into AEG, nor do I claim to be speaking on behalf of the ”This Is Not It” team – I just happen to agree with what they are saying, and I choose to believe their version of what happened, as opposed to that of AEG. I in no way ignore or fail to see the excitement and love Michael Jackson had for ”This Is It” as a project, and the way he was truly excited to share it with all of us. I have just chosen to focus on the business aspect of the situation, to try and show more clearly who I think is really responsible for things ending the way they did. This was written with the utmost love, respect and concern for Michael Jackson, his family, and those close to him that tried so desperately to intervene. All people involved in the incidents and situations mentioned shall remain nameless.


Michael Jackson needs money. Desperately. Over the past decade, his personal life has been repeatedly tarnished, mocked and examinated up close due to the child molestation accusations, and the music that made him a household name seems to have taken a back seat to the slander and bizarre rumours. The trial, although it cleared him of all charges, left him a broken man, and he spent the most part of the following years living like a nomad. Neverland, that was once his world, had been tarnished and defiled by the L.A.P.D, and did not feel like the safe haven it used to be.

When you are the most famous man in the world, people want things from you. Not only because you have them, but because they feel a sense of entitlement to them, a sense of “we made you who you are, you owe us this”. In the past year, Jackson had been hit with multiple law suits, and his finances were not what they once were. Enter AEG.

AEG is one of the world’s leading sports and entertainment presenters, they own or have considerable control over Toyota Sports Center, The Hartford Civic Center, NOKIA Theatre Times Suare, Staples Centre (more about that later), and numerous other facilities. After discussion, deal is closed for Michael Jackson to perform a series of concerts at their O2 Arena, and tickets sell out within a matter of minutes. So fast, that AEG decide to, allegedly on their own initiative and without Jackson’s consent, extend the run: from the original ten shows, to fifty. Rehearsals begin, and things go well for the first couple of weeks. However, it is soon obvious to everyone around, as well as to Randy Philips, AEG chief executive, that Jackson is rapidly losing weight, is weak, stressed, and drousy under the influence of pain killers and sleeping pills. He realizes that the schedule they’ve created for him may be, shall we say, a little tough. An insurance deal is then signed, and Randy Phillips is quoted as saying:

“We have insured the production costs. In order to get the first part of the insurance in place, [Jackson] had to have a physical, and he passed it with flying colors.”

Although the rumour that the insurance in question was made to cover Michael’s death only if it was drug related has never been confirmed, it is my personal belief that this was the case, simply because they were aware of his relationship with medication and it seemed very likely to them that it may well intensify due to the pressure they had put him under. Finding a physician that will give the all-clear – which, in case of Michael dying, would serve to help them get their investment back – most likely wasn’t very difficult either – after all, money talks. Philips made the additional comment that “the carriers flew in a doctor of their choice from New York and he did an extensive battery of tests.”

Randy Philips spoke openly on repeated occasions about witnessing someone in Michael Jackson’s closest circuits having to cut his food for him and spoon feed him, Jackson being too weak to eat by himself. Nothing is done to help. Others close to him try desperately to get the people in charge to call in professional help, as Jackson is clearly unwell both emotionally and physically. Again, nothing is done. Fans and followers try to intervene, but after having confided in them that he does not feel ready to do the fifty shows that are asked of him, security around Michael Jackson tightens and clasps around him like an iron ring, making it as good as impossible for them to come close to him again. Nothing is done to help him. Instead, AEG push harder. After all, it’s almost opening night.

Eventually, the crippling pressure becomes too much, and Michael Jackson’s heart stops. As not to waste the huge interest the world is showing, the conversation, over at the AEG office, then, might have gone something like this:

“It’s a bummer Michael had to go and die…so close to tour start and everything. Okay, this is what we’ll do: we broadcast what is more or less his funeral from Staples Centre (which, by the way, we own) on live TV, and to get back the money we lost because he died on us oh-so-inconveniently, we make a movie. Not just any movie, no no – a movie with very carefully selected scenes. Because we can’t show the truth; first of all it wouldn’t sell and secondly, it would be obvious that we were the ones responsible because we pushed him too hard. So we edit very carefully, and choose the very best parts out of the more than 100 hour footage that has been shot to create our own version of the truth. It’s pre-packed, ready-to-sell, and easy to swallow. Perfect.”

The movie becomes one of the most successful and financially gratifying projects in movie history (that it helps us to escape responsibility is just a bonus) and to take things one step further – hey, you gotta strike while the iron is hot – a few months later, we arrange a tribute to this deceased Pop Icon on the Grammy Awards – which we also own. In the arena we own. The same arena where he was spoon fed and basically buried in. Goodie! People love familiarity, they should know that stage by now.

To make everything develop smoother, we decide to take advantage of the celebrities that mourn and want to honour him, and a tribute is made – a tribute that will steal people’s focus away from all of the above. Then, we proceed to get one of these celebrities to introduce the tribute and make sure it’s in his script that he promotes the DVD of earlier mentioned movie, which by the way – it’s all so fantastically well planned! – we released to the public only six days prior.

Then, we let the celebrities in question do their tribute in front of a backdrop of said movie (did we mention it’s out on DVD now?) and while everyone is still emotional, before their tears have dried, (quickly, people are changing the channel!), we get Michael Jackson’s children – that he tried so hard to protect from media exposure – on stage so that they can accept his Lifetime Achievement Award (again; he died so inconveniently, that Michael) so that our ratings will soar even more. Jackson’s siblings or parents aren’t wanted (they just mean trouble, and besides, they’re on to us), and why settle with his siblings when you can have his kids? Katherine Jackson is welcome, she is the legal guardian after all, and if we want the kids, we’re going to have to put up with having the legal guardian around for a little while. It’s a give and take kinda thing.

The kids give their speeches to their deceased father in shaky, scared voices (make sure to zoom in on their faces, too — this is the good part!) who was in a casket on that same stage seven months ago, people get touched by it, rush to buy even more copies of our DVD, and all is well with the world and our bank accounts. Suckers…they’ll never know.”

__

With the impending trial against Dr. Conrad Murray, there are many of us that hope so desperately for some retribution for Michael, and that just want someone to take responsibility so that we can at least try to have some closure. However, even if Dr. Murray is found guilty of involuntary manslaughter, which are the charges being pressed against him, he will most likely only be lightly reprimanded. Meanwhile, millions of fans are still mourning the loss of their hero, and they may never stop. It is true that had it not been for Dr. Conrad Murray giving Michael the heavy amount of medication that he did (apart from the ”usual” doses of Lorazepam and Midazolam, he was given an additional 4 mgs of each, plus 10 mg Valium and 25 mg Propofol mixed with Lidocaine), his heart would not have stopped that morning. Dr. Murray was directly responsible and he should be in jail, paying forthe crime he committed. However, it was the inhumane an crippling pressure caused by AEG executives that caused Michael to need those medications in the first place, and they are walking free with absolutely no accountability. Dr. Murray getting all the blame must fit them perfectly.

The movie ”This Is It” should not exist. We should not be sitting here with a rehearsal footage DVD and our crumpled, tear-stained tissues, we should be sitting here knowing that Michael is somewhere on the other side of the world laughing, reading, or having a conversation, ALIVE. The movie was not created for the fans, AEG doesn’t care about you, me, or any of the others that are mourning. What they care about is what’s in our wallets. and how much they can get out of  it – that is the only reason the movie was ever made, and that completely mocks everything that Michael ever stood for. Randy Phillips himself said it better than anyone ever could shortly after Michael died:

“People have speculated that this is going to bankrupt our company. The truth is it isn’t.”


I am not asking that people boycott ”This Is It”, I understand that it makes some of those that are mourning feel closer to him, and I respect that. Some will continue to feel comfortable watching it, and some will not. All I ask is that we choose to see things as they really were, painful and uncomfortable as they may be, so that we can form our own, personal opinions and watch the movie with no illusions as to what was really going on. For Michael’s sake.
Last Edit: December 31, 1969, 06:00:00 PM by Guest
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"Don't stop this child, He's the father of man
Don't cross his way, He's part of the plan
I am that child, but so are you
You've just forgotten, Just lost the clue.”

MJ "Magical Child"
Still Rocking my World…
   and leaving me Speechless!

“True goodbyes are the ones never said

the arabian nights

  • Guest
Re: the true criminals - AEG
February 20, 2010, 03:55:18 PM
Quote from: "hesouttamylife"
Has anyone read or posted this article?
[url]http://www.thecommentfactory.com/michael-jackson-is-still-exploited-in-death-aeg-and-dr-death-should-both-pay-2666[url]

Michael Jackson is still exploited in death. AEG and Dr. Death should both pay
By Sandra Sasvari

NOTE: First of all, I would like to make it clear that what is expressed below is my personal reflection and opinion only. I do not claim this to be the truth, I am merely expressing what I believe to be true on a personal level. I have no insight into AEG, nor do I claim to be speaking on behalf of the ”This Is Not It” team – I just happen to agree with what they are saying, and I choose to believe their version of what happened, as opposed to that of AEG. I in no way ignore or fail to see the excitement and love Michael Jackson had for ”This Is It” as a project, and the way he was truly excited to share it with all of us. I have just chosen to focus on the business aspect of the situation, to try and show more clearly who I think is really responsible for things ending the way they did. This was written with the utmost love, respect and concern for Michael Jackson, his family, and those close to him that tried so desperately to intervene. All people involved in the incidents and situations mentioned shall remain nameless.


Michael Jackson needs money. Desperately. Over the past decade, his personal life has been repeatedly tarnished, mocked and examinated up close due to the child molestation accusations, and the music that made him a household name seems to have taken a back seat to the slander and bizarre rumours. The trial, although it cleared him of all charges, left him a broken man, and he spent the most part of the following years living like a nomad. Neverland, that was once his world, had been tarnished and defiled by the L.A.P.D, and did not feel like the safe haven it used to be.

When you are the most famous man in the world, people want things from you. Not only because you have them, but because they feel a sense of entitlement to them, a sense of “we made you who you are, you owe us this”. In the past year, Jackson had been hit with multiple law suits, and his finances were not what they once were. Enter AEG.

AEG is one of the world’s leading sports and entertainment presenters, they own or have considerable control over Toyota Sports Center, The Hartford Civic Center, NOKIA Theatre Times Suare, Staples Centre (more about that later), and numerous other facilities. After discussion, deal is closed for Michael Jackson to perform a series of concerts at their O2 Arena, and tickets sell out within a matter of minutes. So fast, that AEG decide to, allegedly on their own initiative and without Jackson’s consent, extend the run: from the original ten shows, to fifty. Rehearsals begin, and things go well for the first couple of weeks. However, it is soon obvious to everyone around, as well as to Randy Philips, AEG chief executive, that Jackson is rapidly losing weight, is weak, stressed, and drousy under the influence of pain killers and sleeping pills. He realizes that the schedule they’ve created for him may be, shall we say, a little tough. An insurance deal is then signed, and Randy Phillips is quoted as saying:

“We have insured the production costs. In order to get the first part of the insurance in place, [Jackson] had to have a physical, and he passed it with flying colors.”

Although the rumour that the insurance in question was made to cover Michael’s death only if it was drug related has never been confirmed, it is my personal belief that this was the case, simply because they were aware of his relationship with medication and it seemed very likely to them that it may well intensify due to the pressure they had put him under. Finding a physician that will give the all-clear – which, in case of Michael dying, would serve to help them get their investment back – most likely wasn’t very difficult either – after all, money talks. Philips made the additional comment that “the carriers flew in a doctor of their choice from New York and he did an extensive battery of tests.”

Randy Philips spoke openly on repeated occasions about witnessing someone in Michael Jackson’s closest circuits having to cut his food for him and spoon feed him, Jackson being too weak to eat by himself. Nothing is done to help. Others close to him try desperately to get the people in charge to call in professional help, as Jackson is clearly unwell both emotionally and physically. Again, nothing is done. Fans and followers try to intervene, but after having confided in them that he does not feel ready to do the fifty shows that are asked of him, security around Michael Jackson tightens and clasps around him like an iron ring, making it as good as impossible for them to come close to him again. Nothing is done to help him. Instead, AEG push harder. After all, it’s almost opening night.

Eventually, the crippling pressure becomes too much, and Michael Jackson’s heart stops. As not to waste the huge interest the world is showing, the conversation, over at the AEG office, then, might have gone something like this:

“It’s a bummer Michael had to go and die…so close to tour start and everything. Okay, this is what we’ll do: we broadcast what is more or less his funeral from Staples Centre (which, by the way, we own) on live TV, and to get back the money we lost because he died on us oh-so-inconveniently, we make a movie. Not just any movie, no no – a movie with very carefully selected scenes. Because we can’t show the truth; first of all it wouldn’t sell and secondly, it would be obvious that we were the ones responsible because we pushed him too hard. So we edit very carefully, and choose the very best parts out of the more than 100 hour footage that has been shot to create our own version of the truth. It’s pre-packed, ready-to-sell, and easy to swallow. Perfect.”

The movie becomes one of the most successful and financially gratifying projects in movie history (that it helps us to escape responsibility is just a bonus) and to take things one step further – hey, you gotta strike while the iron is hot – a few months later, we arrange a tribute to this deceased Pop Icon on the Grammy Awards – which we also own. In the arena we own. The same arena where he was spoon fed and basically buried in. Goodie! People love familiarity, they should know that stage by now.

To make everything develop smoother, we decide to take advantage of the celebrities that mourn and want to honour him, and a tribute is made – a tribute that will steal people’s focus away from all of the above. Then, we proceed to get one of these celebrities to introduce the tribute and make sure it’s in his script that he promotes the DVD of earlier mentioned movie, which by the way – it’s all so fantastically well planned! – we released to the public only six days prior.

Then, we let the celebrities in question do their tribute in front of a backdrop of said movie (did we mention it’s out on DVD now?) and while everyone is still emotional, before their tears have dried, (quickly, people are changing the channel!), we get Michael Jackson’s children – that he tried so hard to protect from media exposure – on stage so that they can accept his Lifetime Achievement Award (again; he died so inconveniently, that Michael) so that our ratings will soar even more. Jackson’s siblings or parents aren’t wanted (they just mean trouble, and besides, they’re on to us), and why settle with his siblings when you can have his kids? Katherine Jackson is welcome, she is the legal guardian after all, and if we want the kids, we’re going to have to put up with having the legal guardian around for a little while. It’s a give and take kinda thing.

The kids give their speeches to their deceased father in shaky, scared voices (make sure to zoom in on their faces, too — this is the good part!) who was in a casket on that same stage seven months ago, people get touched by it, rush to buy even more copies of our DVD, and all is well with the world and our bank accounts. Suckers…they’ll never know.”

__

With the impending trial against Dr. Conrad Murray, there are many of us that hope so desperately for some retribution for Michael, and that just want someone to take responsibility so that we can at least try to have some closure. However, even if Dr. Murray is found guilty of involuntary manslaughter, which are the charges being pressed against him, he will most likely only be lightly reprimanded. Meanwhile, millions of fans are still mourning the loss of their hero, and they may never stop. It is true that had it not been for Dr. Conrad Murray giving Michael the heavy amount of medication that he did (apart from the ”usual” doses of Lorazepam and Midazolam, he was given an additional 4 mgs of each, plus 10 mg Valium and 25 mg Propofol mixed with Lidocaine), his heart would not have stopped that morning. Dr. Murray was directly responsible and he should be in jail, paying forthe crime he committed. However, it was the inhumane an crippling pressure caused by AEG executives that caused Michael to need those medications in the first place, and they are walking free with absolutely no accountability. Dr. Murray getting all the blame must fit them perfectly.

The movie ”This Is It” should not exist. We should not be sitting here with a rehearsal footage DVD and our crumpled, tear-stained tissues, we should be sitting here knowing that Michael is somewhere on the other side of the world laughing, reading, or having a conversation, ALIVE. The movie was not created for the fans, AEG doesn’t care about you, me, or any of the others that are mourning. What they care about is what’s in our wallets. and how much they can get out of  it – that is the only reason the movie was ever made, and that completely mocks everything that Michael ever stood for. Randy Phillips himself said it better than anyone ever could shortly after Michael died:

“People have speculated that this is going to bankrupt our company. The truth is it isn’t.”


I am not asking that people boycott ”This Is It”, I understand that it makes some of those that are mourning feel closer to him, and I respect that. Some will continue to feel comfortable watching it, and some will not. All I ask is that we choose to see things as they really were, painful and uncomfortable as they may be, so that we can form our own, personal opinions and watch the movie with no illusions as to what was really going on. For Michael’s sake.


thank you for your contribution
Last Edit: December 31, 1969, 06:00:00 PM by Guest
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the arabian nights

  • Guest
Re: the true criminals - AEG?
March 08, 2010, 06:14:04 AM
[youtube:1w6sitax]http://www.youtube.com/watch?v=41rdPR4_Lak[/youtube:1w6sitax]
Last Edit: December 31, 1969, 06:00:00 PM by Guest
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the arabian nights

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Re: the true criminals - AEG?
March 12, 2010, 04:22:33 PM
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Fortune

The fight over Michael's millions
The King of Pop's posthumous success has produced a gusher of money. Now, where his estate is concerned, the Michael Jackson show is just getting started.
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Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close) By Richard Siklos, editor at large
Last Updated: October 23, 2009: 2:25 PM ET

Michael's legacy
The players swirling around the entertainer's estate.
The suits
 Sony is Jackson's partner in the Sony/ATV music-publishing venture, and Sony is also his former record label -- plus, its Hollywood movie studio is releasing the rehearsal film.

The music
 Royalties from Sony and MiJac publishing could generate more than $50 million this year, and the singer has more than 100 unreleased songs.

The executors
 John Branca and John McClain have been busy making deals while being challenged by Jackson's family.

The showmen
 Tycoon Phil Anschutz's AEG Live planned the fateful comeback shows and is staging an exhibition of Jackson memorabilia.

The advisers
 Jackson relied on a colorful retinue of business advisers, from financier Ron Burkle and a Bahraini sheikh to manager Tohme Tohme.

The stuff
 Universal Music Group's Bravado Merchandising arm is producing Jackson collectibles, from wine decanters to sunglasses.

The lenders
 Banks Barclays and HSBC and hedge fund Plainfield hold roughly $435 million in Jackson debt, at rates from 7% to 16%.

The family
 Jackson's mother, Katherine, inherits 40% of his estate, with 40% going to his three children and 20% to charities.

The developers
 Colony Capital holds the debt on Neverland and manages Jackson's home near Santa Barbara. It is considering a permanent show featuring his music in Las Vegas.

ILLUSTRATION: PETE SUCHESKI
 
 
Jackson Inc.
The King of Pop, by the numbers
700 million Total albums sold to date
16 million Albums/songs sold since his death
200 million Estimated box office for "This Is It"
1 billion People worldwide estimated to have watched Jackson's memorial
435,000,000 Debts
 
 
 
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(Fortune Magazine) -- On a recent Friday afternoon, workers toiled away at Neverland Ranch as part of a curious restoration effort that accelerated after Michael Jackson's sudden death on June 25. The main grounds of the 2,700-acre property had been cleared of encroaching chaparral and were now close to the condition they had been in when Jackson last set foot here some five years ago.

The flower beds next to the Disneyland-replica train station were pristine, though the trains were in storage and the midway amusement rides and zoo animals that once populated the property were gone. The Tudor-style mansion, guesthouse, and separate movie theater/dance studio were in move-in condition. The theater even had fresh candy at its concession stand, though the building's only inhabitant was a wayward bat stranded in the restroom.

It was a bit sad and eerie, albeit, from an MTV Cribs kind of viewpoint, quite excellent.

Through all the hoopla following Jackson's death, no one has said publicly what will become of Neverland, which Los Angeles private equity firm Colony Capital took control of after the property nearly went into foreclosure last year.

The Jackson family's desire to have Michael's body interred here proved too complicated, as has the notion of turning it into a Graceland-like destination for fans. There is talk of moving some of the property's structures, which include a giraffe barn, to Las Vegas with an eye to establishing a Neverland attraction there and selling the ranch.

Under terms of an agreement struck with Jackson after Colony purchased the note on the property for $23.5 million, when Neverland is eventually sold, Colony will recoup its investment in the note plus accrued interest, its management and upkeep expenses, and around 12% of everything above that as a success fee. The rest will go to Jackson's estate.

While he declined to confirm the details of his arrangement with Jackson, Tom Barrack, the CEO of Colony, says the Neverland property ought to be worth $60 million to $70 million.

If so, that would be just one source of a sudden gusher of money into Jackson's estate, the bulk of which he left to his mother and three young children.

Two years ago Jackson was headed for insolvency, a consequence of having barely worked in nearly a decade, a period during which he fought child molestation charges and became better known for his eccentricities than for his musical skills. The deal with Colony, and Jackson's decision to stage a series of comeback concerts, were his way out from under debts that had grown from $90 million a decade ago to around $435 million today.

Though Jackson made some savvy investments early in his career, his loans piled up through an astonishing combination of careless financial decisions -- made with an oft-changing and colorful parade of business advisers -- a mountain of legal bills and distractions, and uncontrollable spending.

"When it came to money, he was almost a contradiction," says Randy Phillips, who runs the company that planned to stage Jackson's comeback. "He didn't care about money but liked to spend money and knew that he had to make money."

His demise might have been a tragic postscript to a faded career. Instead, the singer is having a posthumous comeback that promises to dwarf that of Elvis Presley (whose daughter Jackson was once married to). This year Jackson's estate stands to bring in close to $200 million from music sales, merchandising, and book deals; an exhibition of memorabilia; and especially a hastily made documentary based on his comeback concert rehearsals that hits theaters Oct. 28.

The film, "This Is It," is tracking to be a box office success -- with more tickets presold than the next "Twilight" installment -- and riches from DVD sales could follow. Jackson has sold some 5 million albums and 10 million downloads since his death in the U.S. alone, according to Soundscan, and plans are in the works for at least two albums of unreleased songs. (To put that in perspective, he had sold just under 300,000 records in the half-year before his death.)

In all, Jackson's estate would likely be worth $100 million or more if it were liquidated today, but properly managed, it ought to be worth multiples more in time.

The story of Michael's millions -- reconstructed here from private documents, court files, and dozens of interviews with people who worked with the singer -- is as off-the-wall as he was. Barrack recalls being charmed by the self-proclaimed King of Pop when he first met him last year but deeply skeptical about doing business with him.

"Everybody said two things about him," Barrack says. "Firstly, if Michael Jackson came back it would be the greatest thing in music history. And secondly, it would never happen." Improbably, both have come true.

A brief recounting of tragic and familiar facts: Jackson died suddenly in Los Angeles at age 50 amid final rehearsals for what was expected to be a 50-date gig at London's O2 arena. The cause was a combination of prescription drugs, including a surgical anesthetic, propofol, that Jackson was reportedly being given to treat insomnia. The death is being treated as a homicide, and an investigation continues.

As demand for the London shows demonstrated -- all 800,000 tickets sold out within five hours -- Jackson, despite his tabloid travails, was still a megastar. From child stardom with his brothers in the group the Jackson 5, the Gary, Ind., native skyrocketed as a solo act in the 1980s. His album "Thriller" has sold more than 70 million copies, and he is the biggest-selling recording artist of all time.

Between "Thriller," its very successful follow-up, "Bad," and a 120-date stadium tour and sponsorship deals, Jackson earned as much as $350 million, estimates his manager during that period, Frank DiLeo. Paul McCartney, with whom Jackson recorded the single "Say Say Say," turned him on to the idea of buying music publishing rights, reportedly saying, "This is the way to make big money."

Jackson began buying some publishing catalogues with his earnings, including those of Sly and the Family Stone. But McCartney ended up miffed when, in 1985, Jackson -- with the help of his then-lawyer, John Branca -- paid $47.5 million for ATV Music Publishing, a catalogue that included more than 250 Beatles songs. (It was around this time that Jackson also bought Neverland, for $17 million in cash, after visiting McCartney, who happened to be renting it during a video shoot for "Say Say Say.")

Separately, Jackson set up a company called MiJac to hold the publishing rights for what would eventually be eight studio albums of his own music, plus the other catalogues he owned pre-ATV.

In the 1990s, Jackson's ambitions grew ever larger, but his meteor started to sputter. He faced accusations of child molestation and settled a civil suit for $15 million. He burned through piles of money on movies and other ventures that didn't pan out. In 1995 he merged ATV with a publishing business owned by his recording label, Sony (SNE), in a deal that valued ATV at far more than what Jackson had paid -- $115 million plus half the combined company.

Jackson wanted to transcend being a music performer by making films and theme park attractions and videogames. His short video, "Captain EO," directed by Francis Ford Coppola, was shown in 3-D at Disney theme parks. But the only feature movie project he ever completed, called "Moonwalker," failed to find a U.S. distributor when it was released.

By the late 1990s, according to court filings, Jackson had borrowed $90 million from NationsBank, collateralized by his half-interest in what was now called Sony/ ATV. Myung-Ho Lee, a Korean businessman who for a time was Jackson's business manager, claimed in a lawsuit that he lined up "desperately needed financing" from Bank of America (BAC, Fortune 500) (which had merged with NationsBank) to refinance that loan and borrow more -- increasing Jackson's debts to $220 million.

Some of that new money was pumped into dotcom ventures, including Tickets.com, a gaming company, and a fuel-cell business. In court papers Lee also claimed he was not paid for his services and accused Jackson of "bizarre and extravagant" behavior. (Jackson claimed in response that it was Lee who had defrauded him.) "Michael Jackson was -- and is -- a ticking financial time bomb waiting to explode at any moment," Lee said in his complaint.

The case was settled not long after Jackson's last studio album, "Invincible," was released, in 2001. Compared with his past chart busters, "Invincible" had lackluster sales, and Jackson was unhappy.

Bob Daly, who ran Warner Music (WMG) for years and later the Warner Bros. studio, knew Jackson through his wife, the songwriter Carol Bayer Sager, to whom Jackson had dedicated the album. One day Jackson asked Daly, as a favor, to investigate whether Sony had cheated him in the making of the album. Daly reviewed the album's financing and found nothing untoward.

"When I told him that, he sort of disappeared on me," recalls Daly. "Some people don't like hearing what they don't want to hear." Soon after, Jackson had a blowup with Sony during which he was photographed carrying a placard portraying Sony Music's then chief as a devil-like figure.

Before long Jackson and Sony Music parted ways -- a situation that layered tension and mistrust onto his continuing partnership in Sony/ATV, which was operated as a separate entity from the music business.

At this point Jackson had a staff (or "organization," as he liked to say) numbering some 50 people on his payroll. Upkeep at Neverland was costing upwards of $4 million a year, and Jackson was also underwriting the staff and upkeep costs of the Encino, Calif., compound where his mother and other family members lived.

Jackson sought help from a colorful roster of managers and advisers that included a guy who Jackson didn't realize was a gay porn producer, a Florida lawyer who once represented mobster Meyer Lansky, a prominent member of the Nation of Islam, and Michael's own brother Randy.

Finances took a back seat as Jackson spent two years fighting new child molestation charges filed against him in 2003. During his successful defense, according to court papers, Jackson received $2 million from Sheikh Abdulla, the 33-year-old son of the ruler of Bahrain, to help foot his legal bills.

The sheikh, who had ambitions to be in the music business, had taken a shine to Jackson after being introduced by Michael's brother Jermaine. He says in court papers that he took care of the utility bills at Neverland for a time and helped Michael arrange his first mortgage on the property. The sheikh would describe his new friend as "a person who is very switched on, a fantastic businessman and fantastic intellectual."

Several weeks before he was acquitted, Jackson attended the funeral of lawyer Johnny Cochrane. There Jackson confessed his financial straits to Ron Burkle, the Yucaipa Cos. financier, whom Jackson had befriended.

Jackson asked Burkle if he would have an accountant look at Jackson's troubled finances. Burkle agreed, eventually telling the singer that his spending was untenable and he either needed to cut back dramatically or go back to work.

But Jackson told him, as he did others, that under no circumstances did he want to go back to performing. At the very least, Burkle insisted that Jackson begin signing all his own checks so that he could see how much he was paying for things.

Most of Neverland's staff was laid off, and Jackson -- who said he felt violated after police raided his home -- vowed never to return there. Soon after his acquittal, Jackson was living in Bahrain with his children as a guest of the sheikh.

Amid all the negative publicity swirling around Jackson, Bank of America quietly sold the loans it held on Jackson's interest in Sony/ATV, MiJac, and Neverland at a steep discount to Fortress Investments (FIG), a big hedge fund that specialized in distressed assets.

Because of covenant breaches and penalties, the loans now carried stiff terms, with an interest rate in the mid-teens, say two people who were involved in Jackson's finances.

Jackson's income consisted of small dividends from Sony/ATV, $10 million or so from MiJac, plus roughly $10 million from music royalties and other sources -- but that was not enough to stay ahead of his mounting interest payments and his legal and living expenses.

"He always was asset rich and cash-flow poor," one of these people says. "The best way to think about it is a middle-income family that spends too much on their credit card and doesn't care about the fees."

In late 2005, Jackson received a fax from Robert Wiesenthal, the chief financial officer of Sony's U.S. business. Wiesenthal understood that Jackson was days from defaulting on his Fortress publishing loan and offered to meet to discuss ways to help.

Besides aiding a partner, Sony was concerned that Jackson's half of Sony/ATV could end up in bankruptcy court -- or in the hands of an outsider like Burkle or Fortress. (Burkle declined to be interviewed, and Fortress did not respond to an interview request.)

Howard Stringer, Sony Corp.'s chairman, dispatched Wiesenthal to Dubai. In a gilded hotel suite, Wiesenthal met with Jackson and several of the sheikh's advisers and explained that Sony had lined up bankers from Citi who were willing to refinance Jackson's ATV debt on much better terms. And Sony agreed to a dividend policy from the publishing company that would help cover interest payments on the ATV loan.

In exchange, Sony received a freer hand to make investment decisions without Jackson's approval; a right of refusal on his stake; and an option to buy half of Jackson's half for around $250 million. To everyone else's surprise, Fortress exercised a right it held to match any financing terms and held onto its Jackson loans, though only for a short term.

Problems solved? Of course not. In Bahrain, Abdulla had given Jackson use of a Rolls-Royce and a Maybach and bought him jewelry and watches and a gold statue. But after a few months their relationship became another tale of mutual hurt.

Jackson left Bahrain, and Abdulla sued him for reneging on an agreement to start a label and record songs together -- including a Hurricane Katrina relief song they'd spent weeks preparing. Jackson claimed that he either did not know what he was signing or was misled. The case went to trial in London but was settled just before Jackson was to testify.

Jackson moved mostly around Europe with his children, at one point in 2006 living in Ireland and contemplating settling there. According to Raymone Bain, Jackson's spokeswoman and general manager at the time, although Jackson was focusing on raising his children, he was also determined to revive his career.

Jackson told Bain, a crisis specialist who had been spokeswoman for incarcerated D.C. mayor Marion Barry, that two constant subjects of media inquiry were off-limits: his children and his finances. "My finances are my business," he said. "Let them think I'm broke."

Jackson invited Bob Sillerman, the Wall Street entrepreneur who had acquired Elvis Presley Enterprises, to visit him in Ireland to talk about ways to turn Neverland into a fan destination. And although he had been hands-off at Sony/ATV, he was excited about acquisitions the company was making, even calling the legendary songwriter Mike Stoller before the company acquired the catalogue owned by him and Jerry Lieber, which, to Jackson's delight, included the Elvis hits "Hound Dog" and "Jailhouse Rock." "He wanted to really assure Jerry and me that we would be in the best of hands," recalls Stoller.

The Fortress loans were coming due yet again at the end of December 2007. Barclays refinanced the $300 million loan against Sony/ATV from Fortress. HSBC (HBC) lent $30 million against MiJac. Plainfield Asset Management, a hedge fund, loaned another $40 million against MiJac at a 16% interest rate on terms that allowed Jackson to defer payments while the amount due grew.

The financing was supposed to enable Jackson to settle 13 outstanding lawsuits and still have roughly $11 million on hand for creative ventures. The other loans against Sony/ATV and MiJac were both structured so that Jackson was unable to access any of the money -- dividends and profits went directly toward debt payments. And additional money was raised to have "interest reserves" that would make interest payments when Jackson couldn't. Frank DiLeo, Jackson's manager during his heyday, still can't believe the star let it all pile up. "I want to wake him up and slap him," he says.

Jackson was still, according to two people who advised him, running a deficit of $10 million to $15 million a year beyond a similar amount that he would bring in from royalties and new ventures like a special 25th anniversary "Thriller" album released last year.

Not counting financing charges, last year Jackson's personal expenses were around $8 million, says an adviser who reviewed his books -- counting everything from rent and Neverland upkeep to security, child care, and tutoring Jackson was receiving for moviemaking.

Fortress had held onto the mortgage on Neverland, and in early 2008 -- to the surprise of Bain and some of Jackson's other former advisers -- reports emerged that Neverland was going to be sold in a foreclosure auction, only to be "saved" for Jackson by Colony Capital.

By then Bain was out of the picture after Jackson had changed his phone numbers, which he did frequently. This time he didn't give her the new ones. Several months before he died, Bain filed a $44 million lawsuit against Jackson for, you guessed it, unpaid services.

"This is the saddest story in history," says Tohme Tohme, the man who succeeded Bain. "I had no purpose except to help him, to bring Michael Jackson back and make him the King of Pop. One consolation for me: I did it. He died the King."

In the days following Jackson's death, Tohme was portrayed in media reports as a mysterious if not sinister figure -- a portrait he feels besmirched him. A longtime Los Angeleno of Lebanese heritage and habitué of the Bel Air Hotel, Tohme comes from outside the entertainment business but declines to say what businesses he is in.

"If you are writing about Linda Lovelace, you don't need to know about John Holmes," he laughs, making an unexpected reference to 1970s porn stars.

Say what you will, Tohme was able to get Jackson working again. Tohme says that he has known the Jackson family for years, and that Jermaine asked Tohme to help his brother out in early 2008 when Neverland faced foreclosure.

Tohme had done some work with Colony Capital, which has done $39 billion worth of transactions since 1991 and owns 9% of French retailer Carrefour. Tohme persuaded Colony's Barrack to meet with Michael in Las Vegas at the rented stucco compound where the King of Pop and his kids were living. Colony owns the Vegas Hilton, and Barrack had played a role in resuscitating the career of Barry Manilow via a five-year run of shows there.

Barrack also has a ranch near Neverland, and he expressed interest in both Neverland and some kind of permanent Vegas show based on Jackson's music. He in turn spoke to Phil Anschutz, the owner of AEG (it stands for Anschutz Entertainment Group), which led to a meeting between Anschutz and Jackson at the MGM Grand late last year. Jackson was "very laser focused," says AEG Live's Phillips, who also attended. "He wanted to meet the guy who owned the company."

AEG and Tohme subsequently hashed out Jackson's deal for what eventually became 50 shows. Among its terms: Jackson would get 90% of all profits, and AEG would advance some $15 million toward the purchase of a palatial house that had been built by Prince Jefri of Brunei in Las Vegas, which had been listed for more than $100 million and which Jackson envisioned as his new Neverland.

But first AEG had to pay $5 million to Sheikh Abdulla to finally settle his dispute with Jackson (a figure that hasn't previously been disclosed). Tohme worked on other deals on Jackson's behalf, including one for a "Thriller"-based show on Broadway, TV specials, a film, and even a casino.

But several weeks before his death, there was fresh unrest in Jackson's world. Tohme was on the outs after Jackson was upset by the way he managed an auction of truckloads of his eclectic personal possessions this past April.

Jackson was apparently horrified to see the catalogue on the Internet, and the auction ended up being stopped after Jackson sued. (Tohme denies ever receiving a letter from Jackson dismissing him and says he hasn't been paid for the work he did for the singer.)

Around that time, Jackson brought back his old manager DiLeo, who in turn helped bring back John Branca, who had been Jackson's lawyer for the better part of three decades and helped him buy ATV, but with whom the singer had a sometimes strained relationship. Branca, who declined to be interviewed, has said that he last stopped working for Jackson in 2006 because he didn't like the people Jackson was surrounding himself with.

Some in the Jackson orbit, including his father, Joe (with whom Michael had long-standing and very public differences), have contended that Michael was manipulated by people without his son's best interests in mind and hint at nefarious forces behind his demise.

Both the rented $100,000-a-month Bel Air mansion where Jackson fell ill and a doctor who lived with him -- who was to be paid $150,000 a month -- were being funded by AEG. Phillips, the president of AEG Live, says he objected to having the doctor, but Michael Jackson insisted, saying that his body was their venture's most important asset.

"It's easy to make us look like the corporate villains who took advantage of Michael Jackson," Phillips told me one day in his office near Los Angeles' Staples Center, which AEG owns and where Jackson held those final rehearsals. "It's quite the opposite -- we were the people who empowered Michael Jackson and gave him his dream back."

AEG, despite having invested close to $30 million in Jackson's unrealized dream, will make money on its involvement with the estate, thanks largely to the rehearsal footage that was shot and the swiftness with which AEG and Jackson's executors formulated a plan to salvage a calamitous situation.

Sony paid what one company insider called an unprecedented $60 million to Jackson and AEG for the rights to release "This Is It" -- a price justified in part by the fact that the film deal precluded, for now, a televised tribute concert recreating Jackson's fateful stage show, which AEG has explored.

The movie is slated for a limited, two-week run. But where his estate is concerned, the Michael Jackson show is only just underway.

New creditor claims are being filed on a weekly basis, and yet to be resolved is whether Jackson's family can get along with the executors who were named in Jackson's 2002 will: Branca and music industry veteran John McClain.

Katherine Jackson's attorneys have accused the executors of conflicts of interest (their precise objections are sealed from public view) while criticizing aspects of the deals they struck with Sony and AEG.

The probate judge, Mitchell Beckloff, recently took the unusual step of granting Katherine the ability to challenge the executors without jeopardizing her inheritance, and both sides' lawyers have been trying to work out a compromise that would avoid a trial.

Estate lawyers know that high-profile celebrity cases can drag on for years, the most extreme example being Marilyn Monroe's probate, which lasted more than three decades.

Jackson's cultural resurgence will certainly continue to brighten the estate's financial situation, but more challenges are on the horizon. Next year, insiders say, the estate's groaning debts will need to be refinanced yet again.

Down the road, MiJac may be merged into Sony/ATV, which has thrived over the past couple of years. Or the estate may eventually decide that it wants to sell Jackson's musical jewels to the highest bidder to finally settle all the singer's debts and lawsuits. One day, in Las Vegas or elsewhere, fans may visit a new Neverland.

Creatively, Jackson's legacy in the pantheon of musical superstars is already secure. But when it comes to the big financial questions, it's a good bet that Jackson's executors will not be asking themselves, "What would Michael do?"

Reporter associates Marilyn Adamo and Kim Thai

First Published: October 23, 2009: 4:26 AM ET
Last Edit: December 31, 1969, 06:00:00 PM by Guest
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Re: the true criminals - AEG?
March 12, 2010, 04:58:13 PM
You already know how I feel about ALL of the players.  I think they are scoundrels who planned and orchestrated a way to rob Michael of his life's works, including his masters, his money, everything.  AEG/SONY in my opinion is at the forefront of all of this scheming.  They wanted Michael to be their puppet.  They NEVER felt like someone the likes of Michael Jackson had any right to have the earning power, the influences, the money, the assets, the smarts that he  possessed.  I won't even get into the personal stuff.  They wanted him put down a couple hundred notches.  He had gotten too high, more respected even than they were.  I believe that they had no intentions of looking out for Michael's best interest when it came to that contract.  It was ridiculous for a mega star of his earning power to be held obligated to an open ended contract where they had the ruling hand and could add and add as they saw fit any number of shows and he was obligated to perform them less he risk losing everything.  They wanted him to fail. That he signed it, and in my opinion, is where all the problems lie.  Why didn't his legal people get a better deal from him?   Perhaps because they wold get broken off a nice slice of the pie themselves.  Michael had to get out of that contract.  When they saw he was backing off and starting to waiver in his decision to do these concerts as contracted, is when I  feel he was threatened by someone powerful.  They had his back against the wall and Michael didn't like it. If he had stepped one foot on the stage in London, the contract would have been in full force, whether he sang one song or none.  If he didn't deliver for what ever reason, they could have wiped him clean.  Michael Jackson is nobody's fool.
Last Edit: December 31, 1969, 06:00:00 PM by Guest
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"Don't stop this child, He's the father of man
Don't cross his way, He's part of the plan
I am that child, but so are you
You've just forgotten, Just lost the clue.”

MJ "Magical Child"
Still Rocking my World…
   and leaving me Speechless!

“True goodbyes are the ones never said

the arabian nights

  • Guest
Re: the true criminals - AEG?
March 13, 2010, 02:00:24 AM
Quote from: "hesouttamylife"
You already know how I feel about ALL of the players.  I think they are scoundrels who planned and orchestrated a way to rob Michael of his life's works, including his masters, his money, everything.  AEG/SONY in my opinion is at the forefront of all of this scheming.  They wanted Michael to be their puppet.  They NEVER felt like someone the likes of Michael Jackson had any right to have the earning power, the influences, the money, the assets, the smarts that he  possessed.  I won't even get into the personal stuff.  They wanted him put down a couple hundred notches.  He had gotten too high, more respected even than they were.  I believe that they had no intentions of looking out for Michael's best interest when it came to that contract.  It was ridiculous for a mega star of his earning power to be held obligated to an open ended contract where they had the ruling hand and could add and add as they saw fit any number of shows and he was obligated to perform them less he risk losing everything.  They wanted him to fail. That he signed it, and in my opinion, is where all the problems lie.  Why didn't his legal people get a better deal from him?   Perhaps because they wold get broken off a nice slice of the pie themselves.  Michael had to get out of that contract.  When they saw he was backing off and starting to waiver in his decision to do these concerts as contracted, is when I  feel he was threatened by someone powerful.  They had his back against the wall and Michael didn't like it. If he had stepped one foot on the stage in London, the contract would have been in full force, whether he sang one song or none.  If he didn't deliver for what ever reason, they could have wiped him clean.  Michael Jackson is nobody's fool.

agree
Last Edit: December 31, 1969, 06:00:00 PM by Guest
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Re: the true criminals - AEG?
March 14, 2010, 01:49:27 PM
So paying back the sheik (Jane Burgenmeister theory) was written into the 0-2 concert contract?  That's interesting.  Never heard that before :shock:
Last Edit: December 31, 1969, 06:00:00 PM by Guest
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"Don't stop this child, He's the father of man
Don't cross his way, He's part of the plan
I am that child, but so are you
You've just forgotten, Just lost the clue.”

MJ "Magical Child"
Still Rocking my World…
   and leaving me Speechless!

“True goodbyes are the ones never said

the arabian nights

  • Guest
Re: the true criminals - AEG?
April 17, 2010, 02:40:25 AM
i post this elsewhere regarding that the concert was to happen, but i thought i would post here as well, important to keep information together, also it is proof that it was going to be a world tour, a tour that mike could not complete...
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Pop & Hiss
The L.A. Times music blog
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Deep pockets behind Michael Jackson
May 30, 2009 | 9:56 am
This is a longer version of a story that will appear in The Times' Sunday (May 31) edition.





Others have tried to revive the onetime pop star's performing career. Tom Barrack is convinced he's the 'caretaker' to do it.

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 chair 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 Jackson 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, the 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 board room than the recording studio seems on course to accomplish what a parade of others over the last dozen years could not: getting Jackson back on stage.

His backers envision the shows at AEG's O2 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, and even a "Thriller" casino. Such a rebound could wipe out Jackson's massive debt.

"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 previous attempts have failed, associates say, because of managerial chaos, backbiting within his inner circle and the singer's legendary flakiness.

Even as Jackson's deep-pocketed 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 different men identified themselves as the singer's manager and a month before, a respected accountant who had been handling Jackson's books was abruptly fired in a phone call from an assistant.

But his 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 has continued to live like a megastar.

THE MICHAEL JACKSON 'PARADOX'

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 for allegedly 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 straits 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 finally 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 fellow billionaire Ron Burkle, an old friend.

"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. The financier retains close ties to the developer who built Neverland and is friendly with Wesley Edens, the chairman of the property's debt-holder, Fortress Investment Group.

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.

FROM NEVERLAND TO LONDON

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 CEO 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 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.

A PROPOSED TOUR

AEG has proposed a three-year tour starting in Europe, then traveling to Asia and finally returning to the United States. Although Jackson has only committed to the O2 engagement thus far, Phillips estimates ticket sales for the global concerts would exceed $450 million.

"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 of the last year. 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 even 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.

Amid the high stakes, Phillips has taken a hands-on approach more reminiscent of his early days as a talent manager for acts including Guns N' Roses and Lionel Richie than as the company's chief executive.

A REPUTATION, A DO-OR-DIE MOMENT

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 a video news conference earlier this month, Phillips acknowledged that the company has only been able to insure 23 of the 50 "This Is It" performances."In this business, if you don't take risks, you don't achieve greatness," Phillips said.

Phillips said he speaks with Jackson regularly and has closely monitored rehearsals in a Burbank soundstage. In response to questions about his physical condition, especially in light of his previous addiction to prescription painkillers, Phillips said that Jackson passed a rigorous medical examination. Associates also say he adheres to a strict vegetarian diet and works out with a personal trainer.

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 further comment.

In April, Jackson fired the accounting firm, Cannon & Co., that had worked for him for a year, according to an accountant who worked on his finances. Jeff Cannon of Cannon & Co. said he received a phone call from an assistant of Jackson who said the singer no longer required his services.

Then there is Arfaq Hussain. A British man who met Jackson in the late 1990s, Hussain designed clothing for the performer -- including an air-conditioned jacket, a pair of self-adjusting, rhodium-plated shoes and the "Crystal Miracle," a jacket covered with 275,000 rock crystals -- and tried to launch a business selling $75,000 bottles of perfume by trading on Jackson's name.

In 2002, Hussain was jailed for four months in Britain for charges related to business fraud. Hussain and Jackson recently became reacquainted and the singer hired him as an assistant, DiLeo said.

The woman who was Jackson's public face during his criminal trial, former manager and spokeswoman Raymone Bain, is pressing a federal breach of contract suit against the singer. Bain claims that Jackson cheated her out of her 10% cut of several business deals, including the AEG concerts. Bain is to ask a judge in Washington, D.C., next month to seize the portion she alleges is hers, citing Jackson's history of evading creditors.

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," he said. 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 and Harriet Ryan

Related: Michael Jackson delays the start of his London comeback residency

Related: Michael Jackson rehearses near Burbank airport

COMEBACK: Michael Jackson’s backers hope his 50 sold-out London concerts will lead to a world tour, an album, movies, a Graceland-like museum and even a casino. Credit: Associated Press

NEVERLAND: Michael Jackson’s Santa Ynez Valley ranch was just days away from being sold at auction last year until it was rescued by Tom Barrack’s private equity firm. Stephen Osman / Los Angeles Times
Last Edit: December 31, 1969, 06:00:00 PM by Guest
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