Michael Jackson to hospital in cardiac arrest (Dead)

[JasonF]

Popular, trustworthy family men? ZOMG! Abraham Lincoln was a pedophile!

[Brent L]

I don't care what anyone says. I bought his Number Ones CD after a huge urge to hear some of his music since he died because of constantly hearing so much about him, and there's no denying that I have always loved his music, and always will.

[TLwizard]

Did not win the memorial lottery. Shucks.

[cungar]

Originally Posted by TLwizard

Did not win the memorial lottery. Shucks.

I hear the odds were 184 to 1. Sorry you don't get to go downtown and compete for parking spaces with possibly a million people.

[Red Dog]

I've heard L.A. is shelling out $2M+ for the Staples Center service despite the fact that state is basically bankrupt. California is one fucked up state.

[wishbone]

Originally Posted by Red Dog

I've heard L.A. is shelling out $2M+ for the Staples Center service despite the fact that state is basically bankrupt. California is one fucked up state.

Jackson service conflicts with circus visit
By Julie Pendray SPECIAL TO THE WASHINGTON TIMES | Friday, July 3, 2009

The staff at the Staples Center in Los Angeles has been in discussions with Ringling Bros. and Barnum & Bailey Circus about possibly delaying its setup and "loading in" of animals and equipment Tuesday in case Michael Jackson's family chooses to use the arena for a memorial service, a spokesman for the circus said.

Steve Payne of Feld Entertainment, which owns the circus, confirmed there have been talks with Staples Center representatives, but said there was no official notice from the Staples Center about a service.

How would it feel to hold a circus in the venue after a memorial for Mr. Jackson?

"We are glad we can offer our flexibility to have a memorial service, if that's what should happen," Mr. Payne said. "We recognize the importance of such an event to the Jackson family; Feld Entertainment is family owned. We know this is a sensitive time."

A train approximately a mile long will carry elephants, horses and other animals and equipment into Los Angeles for the circus, which is scheduled to open Wednesday. That task could prove ambitious if thousands of people are exiting the city from a memorial service for the King of Pop.

"We have been moving our operation through urban areas for 139 years," Mr. Payne said. "We have people who specialize in logistics of moving shows. There would be extensive coordination with the Staples Center and law enforcement. The care and well-being of the animals would be the top priority."

Mr. Payne said he had no information about where the train would be positioned and what route the entourage might take.

Law enforcement is in "a holding pattern" until it hears from the family, Richard French, spokesman for the Los Angeles Police Department, said Thursday.

Mr. French said he could not confirm any media reports that the event is to be held at the Staples Center on Tuesday.

Officials with the Staples Center also did not disclose any information regarding whether the Jackson family had been in discussions with them.

"Our role, if a service is held, will be to oversee traffic safety, and get the word out to the media about aspects of that," Mr. French said. "The Jackson family prefers that they be the ones to disseminate any information about any service, if they are to have one."

http://www.washingtontimes.com/news/...s-into-circus/

The circus is in town but the other circus will have to wait its turn.

[Red Dog]

I say have them both at the same time - it's a natural fit.

[al_bundy]

Originally Posted by Red Dog

I've heard L.A. is shelling out $2M+ for the Staples Center service despite the fact that state is basically bankrupt. California is one fucked up state.

the hotels and everyone else are jacking up their prices for this, they'll get it back in sales taxes

[al_bundy]

http://finance.yahoo.com/news/Singer...&asset=&ccode=

NEW YORK (AP) -- Music lovers weren't the only ones drawn to the King of Pop. Wooed by his global fame and earning power, a bevy of financial firms ponied up tens of millions to finance the singer's luxe lifestyle and kick-start his troubled career.

Now they're in line with other creditors and business partners awaiting word on the state of Michael Jackson's murky financial empire. Financial firms including Colony Capital LLC, Fortress Investment Group and Barclays Bank PLC poured tens of millions into the singer over the years. The cash allowed Jackson, a notorious binge spender, to maintain a lavish lifestyle befitting a global pop star.

But the potential peril of owning a portfolio tied to an eccentric entertainer became apparent with the singer's surprise death at the age 50. It also highlighted Wall Street's fascination with the entertainment industry -- a trend that could cool depending upon how much Jackson's creditors manage to recoup from their investments.

"There's always been a nexus between the worlds of celebrity and finance, and it's only grown in recent years," said Ian Peck, president of Art Capital Group, which specializes in making loans to celebrities and rich clients who put up artwork as collateral.

Jackson's lenders seemed to "get a kick out of having a big celebrity as a client" despite his checkered finances and 2005 child molestation trial, Peck said. The pop star also benefited from the same credit boom that ensnared ordinary Americans and led to the financial meltdown.

"Today, I don't think he'd be able to obtain the same kinds of loans," Peck said.

Jackson died June 25 in Los Angeles of what his family said was cardiac arrest. According to financial documents obtained by The Associated Press, he claimed $567.6 million in assets as of March 31, 2007, including his Neverland Ranch and his share of the Sony/ATV Music Publishing catalog, which holds the rights to songs by the Beatles, Bob Dylan and other artists.

The documents also show that Jackson had debt of $331 million. Even so, Jackson's singular earning power and worldwide appeal seemed to make him a safe bet to lenders, who sometimes seemed starstruck.

"You are talking about a guy who could make $500 million a year if he puts his mind to it," billionaire investor Thomas Barrack, owner of Colony Capital, told the Los Angeles Times a month before Jackson's death. "There are very few individual artists who are multibillion-dollar businesses. And he is one."

Such faith in Jackson didn't always come cheap.

In March 2008, the singer defaulted on a $23 million loan to Fortress and nearly had to give up Neverland, the 2,500-acre Santa Barbara property he used to secure the loan. Barrack's Colony Capital stepped in at the last minute and agreed to cover the owed amount. Jackson later signed Neverland over to a joint venture between Jackson and an affiliate of Colony Capital. Jackson got $35 million in the deal -- money Colony hoped to recover from the eventual refurbishing and sale of Neverland.

Colony was also reportedly involved in plotting Jackson's planned comeback, which included 50 sold-out dates in London to begin this month. The shows, which were being staged by promoter AEG Live, brought in some $85 million in ticket sales, according to Billboard magazine. AEG says it will offer full refunds on the tickets.

Colony's main business is investing in real estate, non-performing loans and distressed assets. It has invested more than $39 billion in more than 8,500 assets since 1991, according to its Web site. Neither Colony nor Fortress, an investment company with $26.5 billion in assets, would comment.

Jackson wasn't the first music superstar to woo Wall Street.

In 1997, glam rocker David Bowie raised $55 million upfront by offering "Bowie Bonds" that paid interest from royalties on some of his past hits. The bonds, which provided a 7.9 percent return over 10 years, were snapped up by insurer Prudential Insurance Co. of America and helped usher in the era of asset-backed securities.

This so-called securitization of intellectual property rights was followed by other entertainers, including James Brown and Isley Brothers.

Wall Street has also had some notable missteps with the music industry, including private equity firm Terra Firma's 2007 buyout of recording company EMI Group PLC. The label has struggled amid the decline of CD sales, the rise of digital music downloading and the departure of major acts like Radiohead and the Rolling Stones.

"Unquestionably, Wall Street has gotten into the entertainment industry. In some cases it has been smart and in others not so much," said John Scher, a New York concert promoter who put on three Jackson shows in the 1980s.

For other investors, the glare of celebrities like Jackson is simply too much.

Art Capital Group was approached by Jackson for financing years ago but turned down the singer, Peck said. The firm was concerned about how to value Jackson's proposed collateral, which included a collection of 19th century paintings by Adolphe Bouguereau. The French Old Master was known for his nude portraits -- including many featuring cherubic-faced children.

"Frankly, it was just too intense a spotlight for us," Peck said.

Others say Jackson's death and the massive interest it has spawned only makes the star more bankable.

David Reeder, vice president of GreenLight, a Los Angeles firm that handles intellectual property rights for celebrity estates, predicted Jackson's estate is sitting on a cash cow of reissued and unreleased music, merchandise and endorsements like those seen with late actors Steve McQueen or Lucille Ball.

"There's a huge opportunity to leverage his brand going forward," Reeder said.

Another sign of Jackson's investment value is the lofty prices being fetched for the pop star's memorabilia. The day after he died, 21 items sold at auction for a $205,000, including a painting of Mickey Mouse that Jackson made as a child that went for $25,000.

"From a collector's standpoint, he's a very good investment. He's already at the level of Elvis Presley," said Darren Julien, principal of Julien Auctions, which has overseen several auctions of Jackson items.

Another big advantage for Jackson's creditors: They no longer will incur the risk from the singer's lavish spending habits, which over the years have included a chimpanzee named Bubbles and a hyperbaric chamber.

"The sad irony is that the estate will likely be run in a very profitable way from here forward," said Peck of Art Capital Group. "There's not the X-factor of somebody going out doing crazy things."

i bet his estate will be in probate court for years to come and a bunch of hedge funds will end up owning everything that is left

[kmac2878]

[Brent L]

Man, Larry King sure has some pull. He just flat out had Michael Jackson on his show the other night:

[mrpayroll]

http://news.yahoo.com/s/ap/20090706/...YEUl9sdHADMQ--

Judge backs Michael Jackson lawyer and friend
By ANTHONY McCARTNEY, AP Entertainment Writer
22 mins ago

LOS ANGELES – A judge said Monday that Michael Jackson's longtime attorney and a family friend should take over the pop singer's estate for now, rejecting a request from Jackson's mother to be put in charge.

Los Angeles Superior Court Judge Mitchell Beckloff backed attorney John Branca and music executive John McClain, who had been designated in Jackson's 2002 will as the people he wanted to administer his estate. Attorneys for the pop singer's mother repeatedly objected to their appointment at Monday's court hearing.

Jackson died June 25, deeply in debt. But a court filing estimates that his estate will be worth more than $500 million. His assets are destined for a private trust.

The singer's mother, Katherine Jackson, had applied to oversee her son's estate, but that was before the will surfaced. Her attorney, Burt Levitch, expressed concerns about McClain and Branca's financial leadership.

Levitch told Beckloff that Branca had previously been removed from financial positions of authority by Jackson. Branca's attorney says he was rehired by Jackson on June 17, days before Jackson's death.

Katherine Jackson did not appear at Monday's hearing. Branca did attend.

Levitch said it was unclear whether McClain would serve as an administrator because he was of ailing health. Attorneys for McClain and Branca described him as having a physical disability but having a completely sound mind. They also noted a decades-long relationship with the Jackson family.

Branca and McClain will have to post a $1 million bond on the estate, Beckloff ruled. Their authority over the estate will expire Aug. 3, when another hearing on the estate will be held.

"Mr. Branca and Mr. McClain for the next month are at the helm of the ship," Beckloff said.

Katherine Jackson's attorneys had asked that she be appointed to serve as a co-administrator with Branca and McClain. Beckloff refused to grant that request.

The judge granted Branca and McClain several powers over the estate, including the rights to negotiate a settlement with concert promoter AEG Live over refunds for Jackson's canceled London shows. Beckloff stressed that Katherine Jackson should be given complete information about major transactions, but that he as the judge would grant final approval.

John E. Schreiber, an attorney for Katherine Jackson, said, "Frankly, Mrs. Jackson has concerns about handing over the keys to the kingdom."

Paul Gordon Hoffman, an attorney for Branca and McClain, said some of Katherine Jackson's concerns were unfounded.

"We're not aware of any real conflicts at all," he said in response to a claim that the men may have business dealings with parties such as concert promoter AEG Live.

In contrast, Hoffman said Jackson's mother had more of a potential conflict administering the estate because she is a likely beneficiary.

"If there are any conflicts by the parties, Katherine Jackson rather than Mr. McClain and Mr. Branca have them," Hoffman said.

Beckloff noted the contentious relationship brewing between Katherine Jackson and Branca, who personally delivered the will to the family's home a week ago.

"We're getting off to a bit of a rocky start here out of the gate," Beckloff said toward the end of Monday's hearing.

A public memorial has been scheduled for Jackson in downtown Los Angeles on Tuesday. More than 1.6 million people registered to win the coveted free tickets, and only 8,750 names were chosen.

Los Angeles officials are concerned about other fans clogging city streets

Downtown hotels were quickly filling Monday, and police warned those without tickets to the memorial to stay away.

It is going to be utter KAOS tomorrow in the downtown LA area. Thank God I work in Glendale and live only 1 mile away from work. This should be fun to watch on tv tomorrow during work.

Chris

[Giles]

Originally Posted by mrpayroll

It is going to be utter KAOS tomorrow in the downtown LA area. Thank God I work in Glendale and live only 1 mile away from work. This should be fun to watch on tv tomorrow during work.

Chris

"KAOS" ? ... a radio station?

[Franchot]

Originally Posted by mrpayroll

It is going to be utter KAOS tomorrow in the downtown LA area. Chris

Huh?

You mean to say that people attending the memorial service will not be able to conduct themselves with the proper decorum and respect as benefits the dead? Only those with tickets to the event are supposed to attend. Others, I assume, will have the courtesy to remain at home and grieve there.

[Suprmallet]

We're going to watch the service at work. Both of my bosses were big MJ fans. They both entered the lottery for tickets and did not win.

[mrpayroll]

Originally Posted by Franchot

Huh?

You mean to say that people attending the memorial service will not be able to conduct themselves with the proper decorum and respect as benefits the dead? Only those with tickets to the event are supposed to attend. Others, I assume, will have the courtesy to remain at home and grieve there.

We can only hope!

Chris

[The Edit King]

Originally Posted by TLwizard

Did not win the memorial lottery. Shucks.

[Giles]

Originally Posted by Suprmallet

We're going to watch the service at work. Both of my bosses were big MJ fans. They both entered the lottery for tickets and did not win.

how morbid.

[TLwizard]

Apparently if you won, looking at the tickets on ebay, you have to go to Dodger stadium by 6pm tonight to get your tickets and wristband. While I might have been willing to take the bus into downtown tomorrow, there's no way I'm driving from Venice to Dodger Stadium this afternoon.

I think with those kind of limitations, the ebay auctions are gonna dry up or start going for cheap by the end of the day.

[al_bundy]

newspaper said they put the wristband on you as they give you your tickets and if there is any evidence of tampering you don't get in and the tickets are lost. supposedly they dont want scalpers to get any of the tickets

[cungar]

Originally Posted by TLwizard

Apparently if you won, looking at the tickets on ebay, you have to go to Dodger stadium by 6pm tonight to get your tickets and wristband. While I might have been willing to take the bus into downtown tomorrow, there's no way I'm driving from Venice to Dodger Stadium this afternoon.

I think with those kind of limitations, the ebay auctions are gonna dry up or start going for cheap by the end of the day.

These limitations will also limit the number of normal people that are going to show up. It's going to be the real harcore loons for the most part.

[mrpayroll]

I watched the KCAL9 news at lunch today and they were at Dodger Stadium. There is a massive police presence there because they are on the lookout for.... scalpers. They even have undercover vice there looking for anyone trying to sell tickets.

They also reported live from the Staples Center and people are already lining up there. Little do they know that they will be booted out some time today and a approx 1/2 mile perimeter is being thrown up around the Staples Center. Even if you are homeless living in that area, you won't be allowed to stay there overnight. They should sue!

They also reported live from Forest Lawn - Hollywood Hills and hundreds of people and news crews are already there because the rumor is his body is there and will be buried tomorrow morning before the memorial service. So, he may be buried within 5 minutes of where I live and work!

It wouldn't surprise me in the least if some MJ fanatic tried to dig up his body in the next couple of weeks.

Chris

[TLwizard]

I wonder how many people would have registered if the requirement was for people who could actually attend?

[mrpayroll]

They should have held this at the LA Coliseum which can hold at least 4 times a many people as the Staples Center.

Hell, I was just there for a rave 2 weekends ago and it can hold 80,000+ for something like that.

Chris

[RoyalTea]

Didn't win tickets to the MJ memorial at Staples Center? Go to a local Staples and complain to the manager. They love that.