Jeffrey Borer, the owner of XtraJet an air charter service, has been ordered to pay Mark Geragos (a lawyer) and his associate over $20M for ordering the secret videotaping of them as they flew with Michael Jackson to his surrender on molestation charges in 2003.
$18 million should be paid to attorney Mark Geragos, the remainder is to be paid to Geragos' associate, Pat Harris.
Borer said that he would appeal, on the grounds that the tape had no audio therefore it did not violate the attorney-client privilege (the primary reason for the size of the punitive damages).
Tuesday, March 04, 2008
Friday, February 29, 2008
Taxes
Even if Michael Jackson is successful in selling Neverland, at an auction next month, he may well be liable for tax on the sale.
On the assumption that the property is sold for around $25M, given that he paid around $14M for it, there is a capital gain of $10M on which tax of around $5M will be payable.
Jackson will discover the truth of that old saw:
"There are only two certainties in life, death and taxes."
On the assumption that the property is sold for around $25M, given that he paid around $14M for it, there is a capital gain of $10M on which tax of around $5M will be payable.
Jackson will discover the truth of that old saw:
"There are only two certainties in life, death and taxes."
Thursday, February 28, 2008
In Denial
It seems that Michael Jackson is in denial about the dire state of his finances.
Jackson's lawyers are desperately trying to refinance the $25M loan on Neverland, due to go to auction soon, so that he can keep it.
Given that he no longer lives there, why on earth does he want to keep it and waste more money on further loans?
Jackson's lawyers are desperately trying to refinance the $25M loan on Neverland, due to go to auction soon, so that he can keep it.
Given that he no longer lives there, why on earth does he want to keep it and waste more money on further loans?
Wednesday, February 27, 2008
Jackson To Lose Neverland
It seems that, as predicted, Michael Jackson will lose Neverland unless he pays nearly $25m that is owed to Fortress.
Unless he pays the three months' arrears on the property, it will go to auction on the 19th of March.
The auction will include the house and everything on the estate including "all ferris wheels, carousels, merry-go-round type devices... and all amusement ride equipment and facilities of every kind or nature".
Who on earth, in their right mind, would buy this?
Unless he pays the three months' arrears on the property, it will go to auction on the 19th of March.
The auction will include the house and everything on the estate including "all ferris wheels, carousels, merry-go-round type devices... and all amusement ride equipment and facilities of every kind or nature".
Who on earth, in their right mind, would buy this?
Tuesday, February 19, 2008
Grammy's No Show
Those of you who have a remote interest as to why Michael Jackson did not attend the Grammy's the other week, despite all the hype from both the Jackson and the Grammy's camp about his possible attendance, may be interested to know why.
Seemingly, if reports are to believed, Jackson made a few too many demands:
-He wanted a special honouree to introduce him on stage.
-He demanded a special award, something that no one had or would ever receive again.
-He wanted the entire event dedicated to his career, with no less than 30 mentions referring to him as the "King of Pop".
Unsurprisingly, the organisers of the Grammy's said no.
However, both Jackson and the Grammy's did receive a very large amount of free publicity in the run up to the awards, as the media speculated as to whether he would attend or not.
Both Jackson and the Grammy's did very well out of it.
Seemingly, if reports are to believed, Jackson made a few too many demands:
-He wanted a special honouree to introduce him on stage.
-He demanded a special award, something that no one had or would ever receive again.
-He wanted the entire event dedicated to his career, with no less than 30 mentions referring to him as the "King of Pop".
Unsurprisingly, the organisers of the Grammy's said no.
However, both Jackson and the Grammy's did receive a very large amount of free publicity in the run up to the awards, as the media speculated as to whether he would attend or not.
Both Jackson and the Grammy's did very well out of it.
Monday, February 11, 2008
The Grammys
It looks like Michael Jackson was a no show, in any shape or form, at last night's Grammys'.
As predicted.
As predicted.
Jackson Pays The Taxman
Michael Jackson has seemingly had at least the common sense to pay some outstanding tax to the taxman.
It is reported that he has finally settled the outstanding $600K property tax debt on Neverland.
Jackson has paid off a state tax lien on the property, according to Santa Barbara County records.
The settlement amount included penalties and fees, but does not cover the $23M that he owes Fortress Investment after defaulting on loans he took out on Neverland.
Fortress Investment is two weeks overdue the time that it can begin foreclosing on the property.
It is reported that he has finally settled the outstanding $600K property tax debt on Neverland.
Jackson has paid off a state tax lien on the property, according to Santa Barbara County records.
The settlement amount included penalties and fees, but does not cover the $23M that he owes Fortress Investment after defaulting on loans he took out on Neverland.
Fortress Investment is two weeks overdue the time that it can begin foreclosing on the property.
Wednesday, February 06, 2008
The Grammys
It seems that the latest media gossip suggests that Michael Jackson will appear at the Grammy Awards on Sunday.
However, he won't be singing at the ceremony.
A leaked memo from Jackson's record label, SonyBMG, last week had hinted that Jackson would perform live at the ceremony, which takes place on the eve of the release of the 25th anniversary edition of "Thriller".
I wonder who leaked that?
Needless to say, the "will he, won't he?" speculation in the media provides excellent free publicity for both the Grammys and Jackson.
However, he won't be singing at the ceremony.
A leaked memo from Jackson's record label, SonyBMG, last week had hinted that Jackson would perform live at the ceremony, which takes place on the eve of the release of the 25th anniversary edition of "Thriller".
I wonder who leaked that?
Needless to say, the "will he, won't he?" speculation in the media provides excellent free publicity for both the Grammys and Jackson.
Tuesday, February 05, 2008
The Super Bowl Ad
Here is the Super Bowl ad, using Thriller as the soundtrack and Naomi Campbell as the talent, that has got the media so worked up.
Personally speaking, I can't see why.
Personally speaking, I can't see why.
Friday, February 01, 2008
Neverland Extension
Fox reports that Michael Jackson, facing foreclosure on Neverland for $23M secured by Fortress Investments, may have obtained an extension on that foreclosure.
Seemingly, according to Fox, Ron Burkle (big in groceries) may have interceded with Fortress and persuaded them to grant an extension.
How long Jackson has though is not clear.
Seemingly, according to Fox, Ron Burkle (big in groceries) may have interceded with Fortress and persuaded them to grant an extension.
How long Jackson has though is not clear.
Wednesday, January 30, 2008
Don't Believe The Hype
There is much chatter in the media over the issue of whether Michael Jackson will make an appearnce at the Grammy's, on the 10th of February.
Needless to say neither the organisers (CBS) nor Jackson have issued any confirmation or denial.
For why?
Simple, the ongoing speculation gives both the Grammy's and Jackson the oxygen of publicity which they both crave.
A definitive answer, one way or another, would kill off the speculation and the publicity.
Needless to say neither the organisers (CBS) nor Jackson have issued any confirmation or denial.
For why?
Simple, the ongoing speculation gives both the Grammy's and Jackson the oxygen of publicity which they both crave.
A definitive answer, one way or another, would kill off the speculation and the publicity.
Monday, January 28, 2008
Thriller Remake
The Daily Mirror reports that Michael Jackson intends to remake Thriller.
Jackson appeared by video at the NRJ Music Awards in Cannes, where he was awarded some form of medal, and said:
"I'm coming back. And I've got a very special treat for all of my fans.
I have been recording Thriller: 25th Anniversary, with a lot of surprise guests."
The Jackson camp claim that he will hold a European comeback at the O2 Arena in London in summer.
Time will tell.
Jackson appeared by video at the NRJ Music Awards in Cannes, where he was awarded some form of medal, and said:
"I'm coming back. And I've got a very special treat for all of my fans.
I have been recording Thriller: 25th Anniversary, with a lot of surprise guests."
The Jackson camp claim that he will hold a European comeback at the O2 Arena in London in summer.
Time will tell.
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