Thursday, October 27, 2005

Michael Jackson will gladly pay you on Tuesday.

At long last, it seems as though Michael Jackson is conceding defeat. Sources say that his 2,700 acre ranch, Neverland, in Los Olivos, Calif., is going up for sale.
And it’s not a minute too soon. Sources say that Jackson missed the most recent payroll, which was due two weeks ago today. Jackson finally paid his staff on the following Monday. But the remaining staff will likely not be paid today.
"Everyone is pissed," says a staffer. "It was one thing when this happened during the trial, but now is a different story."
In May and June, Jackson missed payroll several times, and staffers conducted a work stoppage.
certainly Jackson has other legal problems facing him in the United States, including a $48 million breach of contract suit, a pending action involving mediation in a past suit, another civil suit involving child molestation and Marc Schaffel’s $4 million suit over money he says Jackson owes him.
Selling Neverland will be complicated by liens on the property. Fortress Investments inherited an $18 million lien that is attached to the $70 million loan against Jackson’s Mijac Music Publishing.
That’s separate from the $200 million loan Fortress holds on Michael’s interest in Sony/ATV Music Publishing, aka the Beatles catalog.

Better be careful Michael, you need to keep enough money in the bank to pay off the families of the next few kids you decide to molest. I'm not saying that Michael Jackson molests kids...I'm just saying that he appears as if he would smell like bubble gum and Vaseline.

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