More bad news for Michael Jackson

Zitat

Originally posted by TLC@Montag, 13.2.06 - 16:39Â Uhr
Wäre natürlich doof, wnen dieser reiche Prinz ihm die finanziellen Mittel streicht. Vielleicht hat Michael seine Gutmütigkeit ja tatsächlich überzogen, aber vielleicht ist das ganze auch nur eine Falschmeldung, weil jemand Roger falsch informiert hat...
Wenn es so wäre, könnten wir nicht nur die Charity Single nun endgültig vergessen, da sie ja bei dem Label des Prinzen erscheinen sollte, sondern Michael müsste sich irgendwie eine andere Lösung für seine finanziellen Probleme suchen...

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Also mal ehrlich: Es ist doch fast schon Dreist, wenn DAS seine Idee für die Lösung der Probleme war....

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Originally posted by Screamlouder@Montag, 13.2.06 - 16:41Â Uhr
Also mal ehrlich: Es ist doch fast schon Dreist, wenn DAS seine Idee für die Lösung der Probleme war....

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ja, sehe ich genauso. Ich will ihm das ja nicht unterstellen, aber ich sehe nunmal im Moment keinen Ansatz von einer anderen Möglichkeit...

Un was is daraus geworden eigentlich ?

Michael Jackson stages turnaround
by Richard Morgan Posted 04:44 EST, 6, Jan 2006

?Michael Jackson's professional behavior has taken such a bizarre turn toward the rational that the erstwhile King of Pop could have his financial house in order as early as next month.

The House that "Thriller" built and that Jackson has since nearly demolished is still a messy place. But thanks to a short-term extension on $200 million of debt collateralized by his stake in the so-called Beatles song catalog - not to mention new representation intent on resolving outstanding legal and financial matters - sources familiar with Jackson's finances are more optimistic than they've been in months about averting bankruptcy.

Moreover, the singer appears sufficiently recovered from his June acquittal of child molestation charges to have retained advisers who have more going for them than, as has previously been charged, "having Michael's ear." New legal representation from Jackson's post-trial base in Bahrain has even been complimented by a critical U.S. observer for providing "good advice."

Much of that advice concerns Sony/ATV Music Publishing, a music-­publishing joint venture between Jackson and Sony Corp. While it's informally known as the Beatles catalog, the copyrights Sony/ATV either owns or administers extend far beyond the Fab Four to include songs by Leonard Cohen, Miles Davis, Neil Diamond, Bob Dylan, the Everly Brothers, Jimi Hendrix and many others.

Borrowing against his stake in Sony/ATV - a half-share that court testimony has valued in excess of $500 million - Jackson reportedly owed Bank of America Corp. more than $250 million by 2000. According to court documents, however, BofA dissociated itself from Jackson last May by selling $272.5 million of the singer's debt to New York private equity firm Fortress Investment Group LLC.

Of the amount taken on by Fortress, $200 million was said to have been collateralized by Sony/ATV. Jackson's solely owned catalog, MiJac Music Publishing Co., and a lien on his Neverland ranch in the Santa Ynez Valley secured the remainder.

On Dec. 20, Jackson's Sony/ATV-backed loan came due. The deadline gave way to the short-term extension, ultimately, after erroneous speculation Fortress would use a Jackson default to force the singer to sell his Sony/ATV stake to Sony.

In exchange for the extension, Fortress is receiving extension fees and a default interest rate. But the "buying of time," a source said, will prove well worth it.

"They're putting together a long-term plan," he explained, "for paying down some debt and coming up with a lifestyle the guy can actually afford." Another source close to the case added, "Michael's now aware it would be financial suicide for him to lose the catalog by not getting a deal done."

On a parallel track, but to the same end, Jackson has also obtained new representation in an action against him by Prescient Acquisition Group Inc. That suit, filed July 11, seeks $48 million for advisory services allegedly undertaken on behalf of Jackson not only to pay off his bank debt but to buy out Sony from their mutually owned catalog.

After being retained in November 2004, the suit charges, "Prescient in fact secured a commitment for a total of $537.5 million in financing to enable Mr. Jackson to pay off the Bank of America debt and exercise his 'put option' to purchase the 50% interest in the entity known as Sony/ATV that he does not currently own." For its efforts, the suit continues, Prescient has a documented right to a fee of 9% of "the principal amount funded or committed."

Sources close to Sony insisted there's no way it's selling its half of Sony/ATV. However, according to the Prescient suit, a trust set up by Jackson has "an option to purchase the remaining 50% interest in that Beatles library from its partner, Sony/ATV, for $200 million."

The suit has been repeatedly delayed in court, most recently by Latham & Watkins LLP's withdrawing in November as counsel for Jackson. But it promises to begin anew now that William B. Wachtel of Wachtel & Masyr LLP has started representing the defendant.

One source noted that Wachtel and lead Prescient attorney Steven Altman are familiar with the case's legal terrain, having both worked on "Bowie bonds" back in the 1990s. "They know this stuff isn't brain surgery," he said, "so I'm guessing they'll be able to work together and get a deal done."

Zitat

Originally posted by 666@Montag, 13.2.06 - 17:51 Uhr
Un was is daraus geworden eigentlich ?

Michael Jackson stages turnaround
by Richard Morgan Posted 04:44 EST, 6, Jan 2006

?Michael Jackson's professional behavior has taken such a bizarre turn toward the rational that the erstwhile King of Pop could have his financial house in order as early as next month.

The House that "Thriller" built and that Jackson has since nearly demolished is still a messy place. But thanks to a short-term extension on $200 million of debt collateralized by his stake in the so-called Beatles song catalog - not to mention new representation intent on resolving outstanding legal and financial matters - sources familiar with Jackson's finances are more optimistic than they've been in months about averting bankruptcy.

Moreover, the singer appears sufficiently recovered from his June acquittal of child molestation charges to have retained advisers who have more going for them than, as has previously been charged, "having Michael's ear." New legal representation from Jackson's post-trial base in Bahrain has even been complimented by a critical U.S. observer for providing "good advice."

Much of that advice concerns Sony/ATV Music Publishing, a music-­publishing joint venture between Jackson and Sony Corp. While it's informally known as the Beatles catalog, the copyrights Sony/ATV either owns or administers extend far beyond the Fab Four to include songs by Leonard Cohen, Miles Davis, Neil Diamond, Bob Dylan, the Everly Brothers, Jimi Hendrix and many others.

Borrowing against his stake in Sony/ATV - a half-share that court testimony has valued in excess of $500 million - Jackson reportedly owed Bank of America Corp. more than $250 million by 2000. According to court documents, however, BofA dissociated itself from Jackson last May by selling $272.5 million of the singer's debt to New York private equity firm Fortress Investment Group LLC.

Of the amount taken on by Fortress, $200 million was said to have been collateralized by Sony/ATV. Jackson's solely owned catalog, MiJac Music Publishing Co., and a lien on his Neverland ranch in the Santa Ynez Valley secured the remainder.

On Dec. 20, Jackson's Sony/ATV-backed loan came due. The deadline gave way to the short-term extension, ultimately, after erroneous speculation Fortress would use a Jackson default to force the singer to sell his Sony/ATV stake to Sony.

In exchange for the extension, Fortress is receiving extension fees and a default interest rate. But the "buying of time," a source said, will prove well worth it.

"They're putting together a long-term plan," he explained, "for paying down some debt and coming up with a lifestyle the guy can actually afford." Another source close to the case added, "Michael's now aware it would be financial suicide for him to lose the catalog by not getting a deal done."

On a parallel track, but to the same end, Jackson has also obtained new representation in an action against him by Prescient Acquisition Group Inc. That suit, filed July 11, seeks $48 million for advisory services allegedly undertaken on behalf of Jackson not only to pay off his bank debt but to buy out Sony from their mutually owned catalog.

After being retained in November 2004, the suit charges, "Prescient in fact secured a commitment for a total of $537.5 million in financing to enable Mr. Jackson to pay off the Bank of America debt and exercise his 'put option' to purchase the 50% interest in the entity known as Sony/ATV that he does not currently own." For its efforts, the suit continues, Prescient has a documented right to a fee of 9% of "the principal amount funded or committed."

Sources close to Sony insisted there's no way it's selling its half of Sony/ATV. However, according to the Prescient suit, a trust set up by Jackson has "an option to purchase the remaining 50% interest in that Beatles library from its partner, Sony/ATV, for $200 million."

The suit has been repeatedly delayed in court, most recently by Latham & Watkins LLP's withdrawing in November as counsel for Jackson. But it promises to begin anew now that William B. Wachtel of Wachtel & Masyr LLP has started representing the defendant.

One source noted that Wachtel and lead Prescient attorney Steven Altman are familiar with the case's legal terrain, having both worked on "Bowie bonds" back in the 1990s. "They know this stuff isn't brain surgery," he said, "so I'm guessing they'll be able to work together and get a deal done."

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die meldung meinte ich...
damnach sahs ja irgendwie ganz gut aus.

das ultimative thema zum spekulieren ... in der linken ecke sein guthaben von ca. ner mrd. einst und die einnahmen von den alben und konzerten bis nach mitte der 90er. in der rechten ecke seine persönlichen monatsausgaben + gelder für firmen und angestellte + gerichtskosten und andere pleiten .

es müsste sein vermögen "extrem" geschrumpft sein aber ins minus dürfte das eigentlich nicht gehen .. so das er halt nurnoch ein ganz "normaler" millionär wäre mit ein paar milliönchen .

diese hohen kredite und zahlungsverzüge dürften wirklich ihren grund haben .. selbst wenn er immer nur unfähige leute als berater hatte , WENN geld da wäre hätte jemand aus seiner familie oder meserau etc. irgendwas schnell eingeleitet mit MJ's zustimmung um die schulden zu begleichen und ihn aus der immer größer werdenden schussbahn zu ziehen .

da das aber nicht geschehen ist und statt dessen immer neuere ausreden und aufschiebungen von statten gehen , gehe auch ich davon aus das auf der "rechnung" mehr steht als er in der brieftasche hat .

ich wünschte das alles wäre einfach vorbei und er würde einfach wieder locker-geniale lieder machen , was eigentlich seine kernstärke war und auch am erfolgreichsten war .

Zitat

Originally posted by 666@Montag, 13.2.06 - 16:51 Uhr
One source noted that Wachtel and ..

Zitat

Originally posted by MJmana@Montag, 13.2.06 - 17:02Â Uhr
@ Bady
Danke ganz herzlich.
mal sehen ob ich das hinbekomme.
Klingt kompliziert.

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kompliziert in diesem forum scheint nur das beiträge bearbeiten zu sein

Zitat

Originally posted by Visionary@Montag, 13.2.06 - 17:02Â Uhr
die meldung meinte ich...
damnach sahs ja irgendwie ganz gut aus.

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Mhm was genau läßt es für dich danach jetzt gut aussehen?

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Originally posted by Screamlouder@Montag, 13.2.06 - 15:46 Uhr
Tu ich doch gar niccht, aber ich werd mich bestimmt nicht so krampfhaft wie du gegen Dinge wären, nur weil sie mir nicht passen...ich lass die Augen dann lieber auf.

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Schön und gut, was du da jetzt erzählst. Allerdings heisst es "wehren" und nicht "wären". Oder hast du schonmal das Wort "Wärmacht" oder "Abwärspieler" gelesen?

Zitat

Originally posted by Screamlouder+Montag, 13.2.06 - 15:46 Uhr--><div class='quotetop'>Zitat von Screamlouder von Montag, 13.2.06 - 15:46 Uhr</div>

Doch,habe ich.
Er hat sein Vermögen woanders angelegt. Sicherer. Besser. Für die USA hat er sich ein Budget einbehalten, sodass er dort ungefähr auf +/-null kommt. Doch er hat sich ein wenig verkalkuliert und jetzt eben dort diese Schulden. Im Vergleich zu seinem Gesamtvermögen sind auch diese 270 Mio´s nicht die Welt und es würde ihm wohl mehr Nachteile bringen, den Kredit jetzt auszugleichen als die in den USA relativ niedrigen Zinsen zu zahlen.

<!--QuoteBegin-Screamlouder@Montag, 13.2.06 - 15:46Â Uhr
Ausserdem bestreitest du sogar das er in den letzten 15Jahren eher auf Sparflamme verdient hat im Vergleich zu früher...sein Lebensstandard aber offentsichtlich davon unbeeindruckt war, jetzt wo es erste Zeichen gibt, ignorierst du sie siehe Linieflug.

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Wenn MJ damals 100 Millionen jährlich verdiente und heute nur noch 35, dann muss er dafür nicht seinen Lebensstandart ändern. Er hat ja früher auch nur einen Bruchteil dessen ausgegeben, was er einnahm.
Also lass mal schön die Butter in dem vom Kühlschrank-Hersteller dafür vorgesehenen Fach drin, okay?

Zitat

Originally posted by Dennis@Montag, 13.2.06 - 17:29 Uhr
Allerdings heisst es "wehren" und nicht "wären". Oder hast du schonmal das Wort "Wärmacht" oder "Abwärspieler" gelesen?

hellau,

wie genau war nochmal die geschichte mit dem glashaus..

THE LAST ACTION HIPPIE

Zitat

Originally posted by Dennis@Montag, 13.2.06 - 17:29Â Uhr
Er hat sein Vermögen woanders angelegt. Sicherer. Besser. Für die USA hat er sich ein Budget einbehalten, sodass er dort ungefähr auf +/-null kommt. Doch er hat sich ein wenig verkalkuliert und jetzt eben dort diese Schulden. Im Vergleich zu seinem Gesamtvermögen sind auch diese 270 Mio´s nicht die Welt und es würde ihm wohl mehr Nachteile bringen, den Kredit jetzt auszugleichen als die in den USA relativ niedrigen Zinsen zu zahlen.

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Warum, nach deiner Logik, beseitigt er denn nicht dann diese Schulden, wenn er es denn so einfach kann? das ergibt doch keinen Sinn! Die Schulden werden nur noch schlimmer zur Zeit ...