I Was Young Then...: 2009

Sunday, June 28, 2009

Michael Jackson may be 'worth more dead than alive'

MICHAEL LIEDTKE, AP

06/27/2009 10:26 AM

LOS ANGELES — Michael Jackson spent the last years of his life buried in debt. But the King of Pop's death is likely to yield a financial bonanza more lucrative than any comeback tour ever could, as fans snap up his music and memorabilia and perhaps one day get the chance to tour his Neverland home.

"Quite frankly, he may be worth more dead than alive," said Jerry Reisman, general counsel for the Hit Factory, a recording studio where Jackson produced his best-selling album "Thriller."

Jackson's death at age 50 leaves a multitude of questions about a financial empire that included his own music, as well a 50 percent stake in a library that held the rights to songs by the Beatles. But Jackson reportedly had $400 million in debts, and it isn't known yet how his estate will be divided and who the beneficiaries will be.

This much is clear: Jackson's heirs, music labels and opportunists will probably be mining his legacy for decades to come.

In that way, his death may parallel that of the music industry's original King — Elvis Presley, who died in 1977 at age 42.

Like Jackson, Presley hadn't had a hit album in years. At the end of his life, he was mostly relying on royalties from his past hits and doing shows in Las Vegas. But in death he became a moneymaking phenomenon.

Presley's estate was valued at just $4.9 million at the time of his death. In 2005, a company run by media entrepreneur Robert F.X. Sillerman paid $100 million for 85 percent of the estate and a 90-year lease on his Memphis mansion, Graceland.

By some estimates, Jackson's estate could be worth more than $1 billion. Besides the master recordings of his own music, Jackson owned half of Sony/ATV Music Publishing, a jewel estimated to be worth $2 billion by itself. The 750,000-song catalog includes music by the Beatles, Bob Dylan, Neil Diamond, Lady Gaga and the Jonas Brothers.

Creditors will get first crack at the estate.

"I think the first question is, 'Is there anything left after you pay off the debts?'" said Robert Rasmussen, the dean of law at the University of Southern California.

Jackson might have shielded some of his estate from creditors and ensured that his children were taken care of by placing a life insurance policy and other assets in an irrevocable trust, said Steve Hartnett, associate director of education for the American Academy of Estate Planning Attorneys.

The pop star left behind three children: Michael Joseph Jackson Jr., known as Prince Michael, 12; Paris Michael Katherine Jackson, 11; and Prince Michael II, 7. The elder children were born to ex-wife Deborah Rowe, while the youngest is his biological son, born to a surrogate mother.

Other potential beneficiaries include Jackson's parents, his five brothers, three sisters and a long list of nieces and nephews. His children's nanny was believed to be close to Jackson.

The contents of Jackson's will have not been released. Typically, a will becomes public within about 30 days of a person's death.

In a statement Friday, Joel Katz, Jackson's entertainment affairs attorney, gave no clues to how Jackson disposed of his estate.

"Michael Jackson was a perfectionist, and his business affairs are worldwide," Katz said. "Many of them are quite ongoing and will be dealt with appropriately."

One big question will be what happens to Neverland, where Jackson surrounded himself with animals, rides and children. Jackson nearly lost the ranch to foreclosure in March, but billionaire real estate investor Thomas Barrack bailed him out, setting up a joint venture with Jackson that took ownership of the 2,500-acre (1,000-hectare) property in Santa Barbara County.

Barrack declined to comment.

Fans, meanwhile, are rushing to buy Jackson's old songs in a scramble that began within minutes of his death. Both Amazon and Barnes and Noble reported selling out of Jackson's CDs, and his music accounted for the most downloads at Apple's iTunes store.

Amazon's sales of Jackson's albums and MP3s were 700 times higher on Thursday after news of Jackson's death, and they were running at an even higher rate Friday, according to Bill Carr, the company's vice president of music and video.

"It's really hard to express what someone dying really means and how it absolutely brands that individual into the culture," said Del Bryant, CEO of Broadcast Music Inc., which collects royalties for the use of "Beat It," ''Billy Jean" and other songs composed by Jackson. "If you look at everyone from Patsy Cline to the Big Bopper to Buddy Holly ... the effect on the catalog is tremendous."

Bryant said expects revenue from public performances of Jackson's songs to triple this year because of his death.

Sillerman's company, CKX, controls licensing of Presley's image, which has been slapped on dozens of pieces of merchandise, such as T-shirts, watches, belt buckles and figurines. In 2007, Presley's brand earned $52 million — beating out living acts like Justin Timberlake and Madonna, according to Forbes magazine, which has put Elvis atop its list of top-earning dead celebrities for two years running.

Jackson's heirs may similarly explore ways to make money from the singer's likeness and art, perhaps through T-shirts, compilations of previously unreleased music, or stage productions based on his songs.

It's also easy to envision Neverland becoming the next Graceland, said Steve Gordon, an entertainment attorney who worked at Sony Music during the 1990s.

The singer's death could also boost business for the legion of Jackson impersonators. Adrienne Gusoff, who runs the New York-based impersonating agency Bubbygram.com, said she expects the dozen Jackson clones she represents to be about as much in demand as entertainers who impersonate stars like Frank Sinatra and Marilyn Monroe.

"I think his death will make him an even bigger star," Gusoff said. - AP

First, though, her Jackson impersonators will have to get over the loss of their hero. "One of my guys in New Jersey is devastated," she said. "It's like a family member died.' - AP

From GMANews.tv; see the source article here.

Jackson body taken by family: coroner

Posted: 27 June 2009 1805 hrs

Michael Jackson

LOS ANGELES - The family of Michael Jackson claimed the body of the late pop star late Friday following an autopsy earlier in the day, Los Angeles County coroner's spokesman Ed Winter said.

Jackson's family removed the singer's body at around 9pm (0400 GMT), eluding hordes of camera crews and photographers.

There was no immediate indication of where Jackson's body was being moved to.

No information regarding funeral arrangements has been released.

Jackson died Thursday after apparently suffering a cardiac arrest at his rented mansion in Beverly Hills, sending shockwaves through the music world and triggering a global outpouring of grief. - AFP/vm

From ChannelNewsAsia.com; see the source article here.

Michael Jackson's death a landmark event for Web

Posted: 27 June 2009 1003 hrs

A screen grab shows a group on social networking site, Facebook, set up in memory of 'King of Pop' Michael Jackson.

WASHINGTON: Pop star Michael Jackson's death is being seen as a watershed event for the Internet with a website, TMZ.com, scooping "old media" and millions around the world finding out about it online.

TMZ – a joint venture of Time Warner's Web portal AOL and Telepictures Productions – left more established media outlets in its dust, publishing the first reports on both Jackson's hospitalisation and on his death.

News of the sudden demise of the "King of Pop" rocketed around the Web at cyberspeed based solely on the TMZ reports, spread by posts on micro-blogging service Twitter, Facebook status updates, instant messages and emails.

"Increasingly, people are turning to Twitter and social media, Facebook in a big way, to just talk and share ideas and feel that they're connected to other people in moments of joy and crisis," said Sree Sreenivasan, dean of student affairs and new media professor at Columbia Graduate School of Journalism.

Other media outlets eventually confirmed the TMZ reports and Web surfers around the globe turned to their favourite websites for news or to YouTube to watch Michael Jackson videos or post their own tributes.

"Michael Jackson's death was clearly a seminal event," Yahoo! said.

Yahoo! News "set an all-time record in unique visitors with 16.4 million people, surpassing our previous record of 15.1 million visitors on Election Day", it said.

The heavy traffic reportedly strained the servers of a number of websites, including those of Twitter, but respected technology blogger Om Malik said reports of an Internet meltdown were overblown. "Only a handful of sites went on the blink," he wrote in a post on his blog GigaOm.

A deluge of search queries for Michael Jackson led Google News, the news aggregator of the Internet giant, to initially believe it was under attack.

"The spike in searches related to Michael Jackson was so big that Google News initially mistook it for an automated attack," Google said Friday.

"As a result, for about 25 minutes yesterday, when some people searched Google News they saw a 'We're sorry' page before finding the articles they were looking for," it said.

The "We're sorry" page tells users their query "looks similar to automated requests from a computer virus or spyware application" and forces them to type in a series of squiggly characters before it will process their request.

TMZ co-owner AOL, which encountered problems with its instant messaging service, also said Jackson's death was a "seminal moment in Internet history".

"We've never seen anything like it in terms of scope or depth," AOL said.

"Historically, celebrity news prompts a worldwide outpouring with several key consumer behaviours – searching, sharing and reacting to the news followed by online tributes has become the modern way to mourn," it said.

"Princess Diana was the first notable Internet example. Michael Jackson and Farrah Fawcett (the Charlie's Angels star who also died on Thursday) are the latest."

Twitter co-founder Biz Stone posted a message on his Twitter feed late on Thursday after getting off a plane: "Stepped off a 10hr flight to discover Twitter is essentially a wake for recently departed Michael Jackson."

The Nielsen Co. said Friday that 16 per cent of Twitter messages over the past 24 hours referenced Jackson. Less than two per cent of "tweets" mentioned Fawcett and the Iranian election, which had held the top spot for two weeks.

TMZ, whose most notable previous scoops included Mel Gibson's 2006 arrest for drunk driving and the break up of Britney Spears' marriage, kicked off its coverage with a brief report on Thursday afternoon.

"We've just learned Michael Jackson was taken by ambulance to a hospital in Los Angeles... and we're told it was cardiac arrest and that paramedics administered CPR in the ambulance... and it's looking bad," it said.

It followed up shortly afterwards with: "We've just learned Michael Jackson has died. He was 50."

It wasn't until nearly an hour later that an established media outlet, The Los Angeles Times, weighed in with its own confirmation of Jackson's death.

"We were getting calls from everyone under the sun, established news operations, asking, 'Are you sure?'" TMZ managing editor Harvey Levin told the Los Angeles Times.

"That's such an odd question. We would not have published it if it were not true," he said.

- AFP/so

From ChannelNewsAsia.com; see the source article here.

Jackson's London concert promoters coy on refunds

Posted: 27 June 2009 0938 hrs

Two fans look on during the tribute to pop star Michael Jackson in Madrid.

LONDON: The organisers of Michael Jackson's 50 comeback tour dates in London remained guarded on Saturday about refunds for ticket holders, following the singer's death.

Jackson fans from around the world had rushed to snap up tickets for the 'This Is It' performances at London's O2 Arena which were due to start on July 13.

The reclusive star made his final public appearance to unveil the sellout gigs in March.

Reports in Britain say about 50 million pounds (59 million euros, 83 million dollars) has been spent on 750,000 tickets.

Promoters AEG Live made no comment immediately following Jackson's death, but a spokeswoman for the company said late Friday: "On behalf of the entire AEG organisation, we extend our deepest condolences to Michael Jackson's family and friends during this tragic time.

"Full ticket refund information and procedures will be released early next week for all Michael Jackson 'This Is It' shows. Fans are advised to hold on to their ticket vouchers/proof of purchase."

Most tickets for the concerts cost between 50 pounds and 75 pounds.

While fans who bought from official outlets are likely to be reimbursed, those who obtained tickets from other sources could lose out.

Tony Northcott, a spokesman for British consumer body the Trading Standards Institute, said: "Sales coming through a third party like eBay or a man in the pub will be on sticky ground.

"If sales are through a third party, then the terms and conditions disappear."

Trading website eBay, where tickets had fetched prices of up to 1,300 pounds, has urged customers to contact the individual sellers to discuss a refund.

The Times newspaper reported on Saturday that AEG had hoped to recoup much of the estimated 10 million pounds it would have cost to stage the concerts from merchandising and corporate entertainment.

With that possibility now quashed, question marks also remained over the extent of AEG's insurance for the Jackson concerts.

Quoting industry sources, the Times said insurers could face a bill of around 50 million pounds, but that was expected to be a fraction of the cost to AEG which most estimates put as 300 million pounds for cancelling the 50 dates and leaving the O2 venue empty for months.

The president of AEG Live, Randy Phillips, has said the company was insured for "the first 23 days" of the run and negotiations were ongoing to increase that.

Concerns for Jackson's health rose when the start of the shows was pushed back after the initial announcement.

But Phillips had insisted the rescheduling was due to the "sheer magnitude" of the show and insisted at the time: "I would trade my body for his tomorrow. He's in fantastic shape."

- AFP/so

From ChannelNewsAsia.com; see the source article here.

Michael Jackson's death stuns world, spotlight on role of drugs

Posted: 27 June 2009 0640 hrs

Fans of Michael Jackson lays flowers under a poster to commemorate him in the Bulgarian capital Sofia

LOS ANGELES - Michael Jackson's cause of death will not be confirmed for several weeks, officials said Friday, as attention turned to the possible involvement of drugs in the tragic King of Pop's demise.

As a global outpouring of tributes to the tortured icon showed no sign of abating, Los Angeles coroners began the task of trying to determine what caused the 50-year-old star to collapse and die at his home on Thursday.

After an autopsy lasting several hours, Los Angeles County coroner's spokesman Craig Harvey told reporters that examiners had found no evidence of "external trauma or foul play" on Jackson's body.

However Harvey said a cause of death had been deferred until the results of exhaustive toxicology tests were known.

"Those tests, we anticipate, will take proximately four to six additional weeks to complete. At that time, once those test results have been completed, we anticipate being able to close the case and issue a final cause of death," said Harvey.

Jackson's autopsy took place Friday amid heartfelt tributes to the singer, and as speculation mounted about the cause of death for the 50-year-old who sold more than 750 million records and whose music defined the 1980s.

Jackson lawyer Brian Oxman said he and family members voiced concerns over the star's use of drugs as he prepared for a gruelling series of comeback concerts in London designed to relaunch his career.

"I know Michael was rehearsing and working extremely hard to get in shape in order to perform in London," Oxman told ABC television's Good Morning America.

New age guru and Jackson confidante Deepak Chopra -- a qualified cardiologist -- told CNN bluntly: "I think drugs killed him."

Jackson's former producer Tarak Ben Ammar denounced the doctors around the late pop icon as "criminals."

"It's clear that the criminals in this affair are the doctors who treated him throughout his career, who destroyed his face, who gave him medicine to ease his pain," he told France's Europe 1 radio.

Celebrity website TMZ.com -- which broke the news of Jackson's death -- reported Friday that the star had been injected with the powerful painkiller Demerol about an hour before he lost consciousness.

A Los Angeles Police Department spokesman said investigators spoke with the doctor briefly Thursday, but they wanted to speak with him again.

A tape-recording of the 911 call from Jackson's home was released Friday in which a caller could be heard telling an operator that repeated attempts to revive Jackson had been unsuccessful.

The caller also said Jackson's personal physician had been the only witness to the singer's collapse. "(The doctor) is pumping the chest but he's not responding to anything, sir, please," the caller is heard saying.

Jackson's family, including the star's three young children, were reportedly huddled at an estate in the northern Los Angeles suburb of Encino.

Meanwhile there were tributes from Jackson's close friend Elizabeth Taylor and a spokesman for US President Barack Obama.

"My heart... my mind... are broken," Taylor said in a statement. "I loved Michael with all my soul and I can't imagine life without him... I still can't believe it. I don't want to believe it. It can't be so."

White House spokesman Robert Gibbs said Friday the US leader regarded Jackson as an icon but thought aspects of his life were sad and tragic.

"The president... said that he had aspects of his life that were sad and tragic, his condolences went out to the Jackson family and fans that mourned his loss," Gibbs said.

Fans staged gatherings across the world. At Jackson's star on the Hollywood Walk of Fame in Los Angeles, fans left flowers and lit candles.

While Jackson ruled the charts and dazzled audiences with dance moves like the "moonwalk" in the 1980s, his once-stellar career was overshadowed by his startling physical transformation and multiple allegations of child abuse.

He lived as a virtual recluse following his 2005 acquittal on charges of child molestation and plotting to kidnap his young accuser.

Despite the acquittal, the trial was a body blow from which the pop music superstar, who named his ranch after Peter Pan's "Neverland" and furnished it with Disney-inspired rides, struggled to recover.

Born on August 29, 1958, Jackson made his show business debut with four of his elder brothers in the Jackson Five pop group, and went on to lead the stage clan with a piping soprano and dazzling dance moves.

In 1979, Quincy Jones produced Jackson's first solo album for Epic Records, "Off the Wall," a huge disco-oriented success that sold 10 million copies.

They teamed up again in 1982 for "Thriller," which became the top-selling album of all time, with sales exceeding 41 million.

- AFP /ls

From ChannelNewsAsia.com; see the source article here.

Fate of Jackson children unclear, say experts

Posted: 27 June 2009 0503 hrs

Michael Jackson with one of his children, with a cloth over draped his head, in Berlin in 2002

LOS ANGELES - The fate of Michael Jackson's three children remained unclear Friday as reports raised the possibility of a custody challenge from the biological mother of the late star's eldest offspring.

The three children -- Prince Michael, 12, Paris, 11, and Prince Michael II, 7, -- were reported to be in the care of Jackson's mother Katherine at the family estate in Los Angeles as the musical clan mourned the star's death.

Jackson's former wife of three years Debbie Rowe is the mother of the two eldest children, while the third was born in 2002 to a surrogate whose identity has never been made public.

There were conflicting reports over whether Rowe, who separated from Jackson in October 1999, had already signed away her parental rights.

TMZ.com website cited a lawyer familiar with the case as saying that Rowe had never had her parental rights legally terminated, which could clear the way for her to gain custody and win a multi-million-dollar settlement.

However Jackson family lawyer Brian Oxman was quoted as saying that the children would likely be looked after by Katherine Jackson.

"Probably Mrs Jackson will take care of them, she loves them dearly," Oxman told the celebrity website Radaronline.

Gloria Allred, a celebrity lawyer told CNN she was "very concerned" about Jackson's children. "What will happen to them?" she said. "If the mother relinquished parental rights then who's to have custody?"

Scott Altman, a professor at the University of Southern California and an expert in family law, said Rowe's custody claim could hinge on what had been agreed with Jackson at an earlier hearing.

"She signed an agreement purporting to give up her parental rights but then more recently she went to court to seek custody and succeeded having that agreement declared invalid," Altman said.

"Ultimately they settled that legal disagreement, and she did not pursue a final custody decree. She could come forward and seek custody as a legal parent to the children."

If Rowe's custody claims were challenged by Jackson's family and the case went to trial, much would depend on details of the children's relationship with Rowe that remained opaque, Altman said.

"There are a lot of factual details we just don't know about -- how much contact has she (Rowe) actually had with these children over the years? What is the nature of their relationship at a social level? Are the children close to her on a psychological level?

"The answers to those questions may make it more or less difficult for her to get custody."

In the end, the children's own preferences could decide the issue, he said.

"My assumption is that if this gets to trial a great deal is going to turn on expert psychological testimony about the children's relationship with the various caretakers involved and the judge's impression of that and potentially the children's own preferences," Altman said.

Meanwhile, even less was known about the surrogate mother of Jackson's youngest child, Prince Michael II, or "Blanket," who was famously dangled from a fourth floor window in Berlin by his late father in 2002.

"I don't think they know much about who she is and whether she'll come forward," Altman said.

"I gather she was a surrogate but we don't know anything about the legal arrangements or whether she's had any contact with the child."

- AFP /ls

From ChannelNewsAsia.com; see the source article here.

Friday, June 26, 2009

A look at the career of the King of Pop

Cover via Amazon

06/26/2009 | 02:07 PM

A look at the life and career of Michael Jackson:

— Aug. 29, 1958: Michael Joseph Jackson is born in Gary, Indiana, the seventh of nine children.

— 1963: After several years of training, The Jackson 5 begin to perform in public.

— Dec. 14, 1969: The Jackson 5 appear on the "The Ed Sullivan Show."

— 1970: Their first album, "Diana Ross Presents the Jackson 5," includes the hit singles "I Want You Back" and "I'll Be There," which go to No. 1.

— 1972: While still singing with the Jackson 5, Michael Jackson puts out his first solo album, "Got to Be There."

— 1979: Jackson's first solo album as an adult, "Off the Wall," is released. He becomes the first solo artist to place four singles from the same record in the top 10.

— 1982: His album "Thriller" wins a record eight Grammys and becomes the world's biggest selling record of all time. Along with the title track, it includes the songs "Billie Jean" and "Beat It."

— 1983: Jackson electrifies the 50 million viewers of the "Motown 25" television special by singing and dancing to "Billie Jean" while wearing a black fedora, one white glove, and pants that end above his ankles.

— 1984: During production of a Pepsi-Cola commercial, Jackson's scalp sustains burns when an explosion sets his hair on fire.

— 1985: Jackson and Lionel Richie write what becomes one of the fastest-selling singles ever with "We Are the World." The song was produced to raise money for victims of the Ethiopian famine. Jackson also pays $47.5 million for the rights to more than 250 songs written by John Lennon and Paul McCartney.

— 1987: His album "Bad" produces five No. 1 singles and sells at least 22 million copies worldwide.

— 1993: Jackson reveals in a TV interview that he had an inherited disorder that caused his skin pigmentation to fade. He was also accused of molesting a boy who often stayed at his home. The singer denied any wrongdoing, reached a settlement with the boy's family, reported to be $20 million, and criminal charges were never filed.

— 1994: Jackson marries Lisa Marie Presley in the Dominican Republic. They divorce two years later.

— 1995: Releases the album "HIStory: Past, Present, and Future Book I." In August, the song "You Are Not Alone" becomes the first single in pop music history to enter the Billboard chart at No. 1.

— 1997: The album, "Blood on the Dance Floor: HIStory in the Mix," sells in the hundreds of thousands worldwide, disappointing numbers for Jackson.

— 2002: Jackson playfully dangles infant son, Prince Michael II, over a hotel balcony in Berlin while a throng of fans watched from below.

— 2003: ABC airs the British documentary, "Living With Michael Jackson." Jackson's comments about allowing kids spend the night in his bedroom prompted authorities to look into his relationships with children.

— 2005: A judge clears Jackson of charges he molested a 13-year-old cancer survivor at Neverland in 2003. He had been accused of plying the boy with alcohol and groping him, and of engaging in strange and inappropriate behavior with other children.

— 2006: Plagued by financial problems since his trial, Jackson closes the house on his 2,600-acre (1,052-hectare) Neverland Ranch estate in California, laying off most of the staff after agreeing to pay hundreds of thousands of dollars in back wages to avoid a lawsuit by state labor officials. - AP

From GMANews.tv; see the source article here.

Michael Jackson lived like king but died awash in debt

Image via Wikipedia

06/26/2009 | 12:04 PM

LOS ANGELES — Michael Jackson the singer was also Michael Jackson the billion-dollar business.

Yet after selling more than 61 million albums in the United States and having a decade-long attraction open at Disney theme parks, the "King of Pop" died Thursday at age 50 reportedly awash in about $400 million in debt, on the cusp of a final comeback after well over a decade of scandal.

The moonwalking pop star drove the growth of music videos, vaulting cable channel MTV into the popular mainstream after its launch in 1981. His 1982 hit "Thriller," still the second best-selling US album of all time, spawned a John Landis-directed music video that MTV played every hour on the hour.

"The ratings were three or four times what they were normally every time the video came on," said Judy McGrath, the chairman and CEO of Viacom Inc.'s MTV Networks. "He was inextricably tied to the so-called MTV generation."

Five years later, "Bad" sold 22 million copies. In 1991, he signed a $65 million recording deal with Sony.

Jackson was so popular that The Walt Disney Co. hitched its wagon to his star in 1986, opening a 3-D movie at its parks called "Captain EO," executive produced by George Lucas and directed by Francis Ford Coppola. The last attraction in Paris closed 12 years later.

One of Jackson's shrewdest deals at the height of his fame in 1985 was the $47.5 million acquisition of ATV Music, which owned the copyright to songs written by the Beatles' John Lennon and Paul McCartney. The catalog provided Jackson a steady stream of income and the ability to afford a lavish lifestyle.

He bought the sprawling Neverland ranch in 1988 for $14.6 million, a fantasy-like 2,500-acre (1,000-hectare) property nestled in the hills of Santa Barbara County's wine country.

But the bombshell hit in 1993 when he was accused of molesting 13-year-old Jordan Chandler.

"That kind of represents the beginning of the walk down a tragic path, financially, emotionally, spiritually, psychologically, legally," said Michael Levine, his publicist at the time.

He settled with the boy's family, but other accounts of his alleged pedophilia began to emerge.

When he ran into further financial problems, he agreed to a deal with Sony in 1995 to merge ATV with Sony's library of songs and sold Sony music publishing rights for $95 million. Then in 2001, he used his half of the ATV assets as collateral to secure $200 million in loans from Bank of America.

As his financial problems continued, Jackson began to borrow large sums of money, according to a 2002 lawsuit by Union Finance & Investment Corp. that sought $12 million in unpaid fees and expenses.

In 2003, Jackson was arrested on charges that he molested another 13-year-old boy. The 2005 trial, which ultimately ended in an acquittal, brought to light more details of Jackson's strained finances.

One forensic accountant testified that the singer had an "ongoing cash crisis" and was spending $20 million to $30 million more per year than he earned.

In March of last year, the singer faced foreclosure on Neverland. He also repeatedly failed to make mortgage payments on a house in Los Angeles that had been used for years by his family.

In addition, Jackson was forced to defend himself against a slew of lawsuits in recent years, including a $7 million claim from Sheik Abdulla bin Hamad Al Khalifa, the second son of the king of Bahrain.

Memorabilia auctions were frequently announced but became the subject of legal wrangling and were often canceled.

Time and again, however, Jackson found a way to wring cash out of high-value assets, borrowing tens of millions at a time or leaning on wealthy friends for advice, if not for money.

Al Khalifa, 33, took Jackson under his wing after his acquittal, moving him to the small Gulf estate and showering him with money.

In his lawsuit, Al Khalifa claimed he gave Jackson millions of dollars to help shore up his finances, cut an album, write an autobiography and subsidize his lifestyle — including more than $300,000 for a "motivational guru." The lawsuit was settled last year for an undisclosed amount. Neither the album nor book was ever produced.

Another wealthy benefactor came to Jackson's aid last year as he faced the prospect of losing Neverland in a public auction.

Billionaire Thomas Barrack, chairman and CEO of Los Angeles-based real estate investment firm Colony Capital LLC, agreed to bail out the singer and set up a joint venture with Jackson that took ownership of the vast estate.

Barrack was unavailable for comment Thursday, but referred to the singer in a statement as a "gentle, talented and compassionate man."

A final piece of the financial jigsaw puzzle fell into place in March, when billionaire Philip Anschutz' concert promotion company AEG Live announced it would promote 50 shows in London's O2 arena. Tickets sold out, and the first show of the "This is It" tour was set for July 8.

Jackson, who has won 13 Grammys, hadn't toured since 1997. His last studio album, "Invincible," was released in 2001.

But the opening date was later postponed to July 13 and some shows moved back to March 2010, fueling speculation that Jackson was suffering from health ailments that could curtail his comeback bid.

His death, caused by cardiac arrest according to his brother Jermaine, raised the question whether an insurer would refund money to ticketholders. AEG Live did not immediately respond to requests for comment.

Jackson was practicing for the concert in Los Angeles at the Staples Center with Kenny Ortega, a choreographer and director of the "High School Musical" movies, who has worked on previous Jackson videos like "Dangerous" in 1993.

"We had a 25-year friendship. This is all too much to comprehend," Ortega said in a statement. "This was the world's greatest performer and the world will miss him." - AP

From GMANews.tv; see the source article here.

Bodies of Air France captain, steward found

June 25, 2009 -- Updated 1445 GMT (2245 HKT)

Story Highlights

Search crews recover bodies of flight captain and steward from crash
All 228 people onboard flight 447 from Brazil to France were killed
None of names of bodies recovered have been released at request of families

A Brazilian diver floats on wreckage of Flight 447 earlier this month. The search for more debris continues.

(CNN) -- Search crews have recovered the bodies of the flight captain and a steward from the Air France flight that crashed off the coast of Brazil.

The two flight members are among the victims that have been identified, Air France said in a statement Thursday.

About a dozen victims have been identified among roughly 50 bodies recovered from the crash of Flight 447, which killed 228 people on June 1, authorities in Brazil said this week.

Crews continue to search for bodies, wreckage and flight-data recorders that apparently rest deep on the ocean floor. Data from the recorders may be crucial in helping investigators determine what caused the plane to crash.

Autopsies conducted on some of the 50 bodies found so far show they suffered broken bones, including arms, legs and hips, Brazilian authorities have told French investigators, according to Paul-Louis Arslanian, head of the French accident investigation board.

Such injuries suggest that the plane broke apart in midair, experts have said.

Asked about that theory, Air France Chief Executive Pierre-Henri Gourgeon told France's RTL radio this week that he would not go that far.

"What I know is that the investigators would like to know the causes of death," Gourgeon said. "That knowledge of causes of death will better clarify what exactly happened. Were the victims killed before the impact, or during impact?"

Searchers have found dozens of pieces of debris in the water and think they know the general location of the wreck, but Arslanian said this week that there is a chance the entire aircraft may never be found.

Air France plans to pay relatives of the victims an initial compensation equivalent to about $24,500, or 17,500 euros, for each victim, Gourgeon has said.

The airliner said this week that it has been in touch with about 1,800 relatives of the people who died when the Airbus A330 crashed, but that it has been difficult tracing the relatives of all 228 victims.

"The modern world is different and we often have only a cell phone, and as you can imagine, this cell phone is unfortunately in the aircraft," Gourgeon said. "So we probably (will put in) more hours to access all the relatives."

The company is also providing families with counseling, he said.

The were 32 different nationalities present on Flight 447.

From CNN.com; see the source article here.

Thursday, June 25, 2009

Tears flow for pop's 'Peter Pan'

Posted: 26 June 2009 0841 hrs

Michael Jackson's fans weep at news of his sudden death in Los Angeles.

LOS ANGELES: Tears flowed outside a hospital here on Thursday as hundreds of Michael Jackson fans gathered to mourn the loss of the music legend, stunned by his sudden death at the age of 50.

"I can't believe we might have lost the best entertainer this world has ever seen," sobbed Lana Brown, 49, from Dallas, overcome with emotion as she struggled to come to terms with the news.

Brown, who described herself "as the biggest Jackson fan ever", was on holiday with her family in Los Angeles when her friend phoned to tell her that Jackson had collapsed and was being treated at the UCLA hospital.

Like hundreds of others, she made her way to the hospital, hoping against hope that Jackson, whose music and dance thrilled generations of fans, would pull through.

"I left my office. Everyone should. It's so shocking. Because you think someone like Michael Jackson will live forever, like Peter Pan," Yoshiko Plair, clasping a sunflower for her icon, told AFP.

The 49-year-old real estate agent heard the news, like so many others, via a text message on her phone when she was in the bank.

Dropping her business, she rushed home, put on her "Thriller" T-shirt and hustled her sister and two children to the hospital to stand vigil.

"He changed music, he's the reason all that black music is on MTV now," Plair said. "I followed him from that first song. I'm going to mourn him today and probably for the rest of my life."

She added she was going to stay until the hospital officially announced Jackson's death. "I want to hear with my own ears, I can't believe it until I hear it myself.

Student Ashley Leon, 20, also decided to come after hearing of the news of Jackson's collapse.

"I called my room mate who is the extreme Michael Jackson fan because, you know, this is one of the biggest things we'll live through in our lives. We all grew up with his music."

The crowd swelled through the afternoon in the bright summer sunshine waiting for news of their hero.

And most of them brushed off the past scandals that had blighted Jackson's life, after he was charged with and then acquitted of child-molestation.

"You know Michael Jackson has his stuff going on. You knew he's crazy. But he's Michael Jackson," said Leon.

While Brown was more emphatic, saying: "All of that did not matter to me because I knew it wasn't true."

- AFP/so

From ChannelNewsAsia.com; see the source article here.

Entertainment world in shock at Jackson's death

Posted: 26 June 2009 0829 hrs

Michael Jackson stands with Quincy Jones at the Grammy Awards in 1984. (file pic)

LOS ANGELES: Celebrities and stars around the globe were overwhelmed by sorrow and shock on Thursday as they sought to absorb the news of the sudden death of pop icon Michael Jackson.

"I'm absolutely devastated at this news," bestselling record producer and musician Quincy Jones told NBC, after Jackson died suddenly aged 50, apparently from a cardiac arrest, at his Beverly Hills home.

"I just don't have the words. Divinity brought our souls together and allowed us to do what we could do through the '80s," Jones said.

"To this day that music is played in every corner of the world, and the reason is because he had it all – talent, grace, and professionalism. I've lost my little brother today and part of my soul has gone with him."

As crowds of people began to gather at the hospital where Jackson had been rushed for treatment, the biggest and greatest of the entertainment world were struggling to take in news of his death.

California Governor Arnold Schwarzenegger issued a statement lamenting the loss of "one of the most influential and iconic figures in the music industry".

Schwarzenegger noted that there were "serious questions" about Jackson's personal life, but the governor said he and his wife Maria Shriver joined "all Californians in expressing our shock and sadness over his death."

"Our hearts go out the Jackson family, Michael's children and to his fans worldwide," the statement said.

"I'm just devastated, very, very sad. I pray that his soul is up there now," close friend Uri Geller told the BBC, after multiple US news outlets confirmed Jackson's death.

Jackson was best man when the television physic Geller renewed his wedding vows in 2001.

"I'm still trying to hold on to the glimmer that it is not true. It is too surreal for me to absorb that Michael is no longer with us."

Geller told the BBC that he was "absolutely shocked" as Jackson had been in good shape training for his comeback tour due to launch on July 13 in London.

"Michael was in good shape because he was practising, he was training, he was rehearsing for the shows," he said.

"Michael was careful with what he ate, he was just fine. Last time I know and heard of what he was doing he was in great shape. And this is why I'm so absolutely shocked by this news and I'm praying and hoping it's not true."

US actor Jamie Foxx was in the middle of an interview with "Extra" TV when the news broke, and said that he hoped Jackson would be remembered as a "brilliant musician" and not for "the circus sideshow" that his life turned into.

British Foreign Secretary David Miliband also posted his thoughts on Jackson's death on Twitter. "Never has one soared so high and yet dived so low. RIP Michael," Miliband wrote.

Many paid tribute to Jackson's influence on the world of music and dance. His album "Thriller" remains the bestselling album of all time with more than 41 million sales.

And his iconic moonwalk has passed into dance legend, endlessly copied by millions of dancers around the world.

"From a dancer's perspective, he was the epitome of the natural mover and popularised the 'moonwalk' from his Billy Jean video. Of course, the dance that he did for 'Thriller' is still performed, used and emulated constantly," said Ashley Roland, co-artistic director of the Oregon-based dance company BodyVox.

"He was an inspiration to so many, and I am one of them."

British child actor Mark Lester, the godfather to Jackson's children, said he was in shock at the news, and praised Jackson's attributes as a father.

"They're the most fabulous kids – whatever they need, they've got me," Lester told MSNBC.

- AFP/so

From ChannelNewsAsia.com; see the source article here.

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