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Captain Corea
Joined: 28 Feb 2005
Location: Seoul
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 Posted: Wed Jun 08, 2005 7:08 am Post subject: |
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FREE BJ!!
oops, I mean MJ  |
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FUBAR
Joined: 21 Oct 2003
Location: The Y.C.
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| Posted: Wed Jun 08, 2005 7:09 am Post subject: |
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| Swiss James wrote: |
| he's a smart businessman- even if his own career flops he's still got the copyright to all of the Beatles songs to keep him warm at night. |
He might be smart, but the man has a huge insolvency problem that may force him to sell off his Sony Music Catalog.
http://www.msnbc.msn.com/id/8132623/ |
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igotthisguitar
Joined: 08 Apr 2003
Location: South Korea (Permanent Vacation)
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| Posted: Mon Dec 12, 2005 1:48 am Post subject: |
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| FUBAR wrote: |
| Swiss James wrote: |
| he's a smart businessman- even if his own career flops he's still got the copyright to all of the Beatles songs to keep him warm at night. |
He might be smart, but the man has a huge insolvency problem that may force him to sell off his Sony Music Catalog.
http://www.msnbc.msn.com/id/8132623/ |
Jackson may lose ranch and Beatles catalog
Date: Friday, December 09, 2005 7:50:57 AM EST
LOS ANGELES, Dec. 8 (UPI) -- Michael Jackson reportedly has two weeks to stave off a $270 million foreclosure or lose his Neverland Ranch and Sony Beatles music catalog.
"It's a meltdown -- Michael's life is on the line, physically, and his finances are in ruins because he has listened to the wrong people," a source told Thursday's New York Daily News.
The newspaper reportedly earlier in the week Jackson's family was planning an emergency trip to Bahrain to try and get the pop star into rehab for a prescription drug addiction.
The source told the News that Jackson took out two loans, one for $200 million and the other $70 million, and secured them with Neverland and the Beatles catalog.
He reportedly defaulted on the smaller loan in April then worked out a payment plan with Fortress Investments. But Jackson defaulted again in October and foreclosure is set for Dec. 20, the source said.
Jackson has also reportedly failed to make payments on a $2.2 million second mortgage he took out on his parents' Encino, Calif., mansion, which is also now facing foreclosure.
http://www.menafn.com/qn_news_story.asp?StoryId=Cq5KpueidDxmTAMfJA3nVBG
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Copyright 2005 by United Press International.
All rights reserved. |
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