News 28.10.2005 / "Neverland for Sale; Jacko Recording
Posted: Fri, 28 Oct 2005, 22:11
Neverland for Sale; Jacko Recording Song
Thursday, October 27, 2005
By Roger Friedman
Jacko: Neverland for Sale, Charity Single Under Way
At long last, it seems as though Michael Jackson is conceding defeat. Sources tell me that his 2,700 acre ranch, Neverland, in Los Olivos, Calif., is going up for sale. As in now, and not six months ago as falsely reported in tabloids.
And it’s not a minute too soon. Sources tell me 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.
Meanwhile, Jackson is indeed in Los Angeles recording his charity single, "From the Bottom of My Heart." For the last two nights, Jackson has had pop and R&B artists come over to Conway Studios on Melrose Avenue to add vocals to the project. A person who answered the phone at Conway confirmed the story today.
I’m told that Jackson managed to get just a smattering of acts to come over to Conway, including The O'Jays, Snoop Dogg, Ciara, Shirley Caesar and James Ingram. The word is that Kenneth "Babyface" Edmonds and R. Kelly are producing the track.
Kelly is an interesting choice, since he’s currently awaiting trial in Chicago on 14 counts of child pornography relating to a video that showed him having sex with an allegedly underage girl.
The fact that Jackson is in Los Angeles is a surprise to many, including those who are currently suing him for one thing for another. It may also come as a surprise to the people who work for him at his Neverland Ranch. They haven’t seen Jackson since early July.
By the way, “From the Bottom of My Heart” — which is also the title of an excellent Stevie Wonder track on his own new album — was written by the prince of Bahrain. I’m told the prince has had the song for some time and tried to get Jackson to record it back around 9/11.
Jackson, however, opted for his “What More Can I Give,” which was a rewrite of his old hit, “I Just Can’t Stop Loving You.”
More on Neverland
At least six Neverland employees have quit in the last couple of months, my insiders say.
"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.
More importantly, Violet Silva, head of security at Neverland and a Jackson loyalist for more than 15 years, quit her job last week. She is now working for former Jackson attorney Robert Sanger.
Jackson has been away from Neverland since his acquittal last June on charges of child molestation and conspiracy. In the meantime, Jackson has set up what seems to be a permanent residence in Bahrain, making occasional trips to London.
Recently, Jackson was summoned to jury duty in Santa Barbara County. But he’s certainly not going to be doing that anytime soon. His defense attorney, Thomas Mesereau Jr., told the court that Jackson was seeking permanent residence in Bahrain.
One source tells me, "Michael thinks they’re using the jury summons to lure him home. He thinks the prosecutors are still trying to get him."
They may be, but 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.
Neverland could possibly sell for $40 million, which — after the lien is satisfied and taxes are paid — could leave him with enough cash to buy some new valueless tchotchkes.
/Niestety MJPolishTeam nie może się w tej chwili zająć tłumaczeniem/
Insiders tell me that Fortress may be extending the December deadline for the loans, but Jackson’s sale of Neverland would seem tied to that date. Jackson had been hoping that the prince of Bahrain would be backing him in a new record label, with distribution by Island/DefJam Records.
But that deal hasn’t happened. Jackson may actually feel like his back is against the wall financially.
źródło: http://www.foxnews.com/story/0,2933,173652,00.html
/Niestety NewsTeam nie może się w tej chwili zająć tłumaczeniem/
/MJowitek/
Thursday, October 27, 2005
By Roger Friedman
Jacko: Neverland for Sale, Charity Single Under Way
At long last, it seems as though Michael Jackson is conceding defeat. Sources tell me that his 2,700 acre ranch, Neverland, in Los Olivos, Calif., is going up for sale. As in now, and not six months ago as falsely reported in tabloids.
And it’s not a minute too soon. Sources tell me 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.
Meanwhile, Jackson is indeed in Los Angeles recording his charity single, "From the Bottom of My Heart." For the last two nights, Jackson has had pop and R&B artists come over to Conway Studios on Melrose Avenue to add vocals to the project. A person who answered the phone at Conway confirmed the story today.
I’m told that Jackson managed to get just a smattering of acts to come over to Conway, including The O'Jays, Snoop Dogg, Ciara, Shirley Caesar and James Ingram. The word is that Kenneth "Babyface" Edmonds and R. Kelly are producing the track.
Kelly is an interesting choice, since he’s currently awaiting trial in Chicago on 14 counts of child pornography relating to a video that showed him having sex with an allegedly underage girl.
The fact that Jackson is in Los Angeles is a surprise to many, including those who are currently suing him for one thing for another. It may also come as a surprise to the people who work for him at his Neverland Ranch. They haven’t seen Jackson since early July.
By the way, “From the Bottom of My Heart” — which is also the title of an excellent Stevie Wonder track on his own new album — was written by the prince of Bahrain. I’m told the prince has had the song for some time and tried to get Jackson to record it back around 9/11.
Jackson, however, opted for his “What More Can I Give,” which was a rewrite of his old hit, “I Just Can’t Stop Loving You.”
More on Neverland
At least six Neverland employees have quit in the last couple of months, my insiders say.
"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.
More importantly, Violet Silva, head of security at Neverland and a Jackson loyalist for more than 15 years, quit her job last week. She is now working for former Jackson attorney Robert Sanger.
Jackson has been away from Neverland since his acquittal last June on charges of child molestation and conspiracy. In the meantime, Jackson has set up what seems to be a permanent residence in Bahrain, making occasional trips to London.
Recently, Jackson was summoned to jury duty in Santa Barbara County. But he’s certainly not going to be doing that anytime soon. His defense attorney, Thomas Mesereau Jr., told the court that Jackson was seeking permanent residence in Bahrain.
One source tells me, "Michael thinks they’re using the jury summons to lure him home. He thinks the prosecutors are still trying to get him."
They may be, but 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.
Neverland could possibly sell for $40 million, which — after the lien is satisfied and taxes are paid — could leave him with enough cash to buy some new valueless tchotchkes.
/Niestety MJPolishTeam nie może się w tej chwili zająć tłumaczeniem/
Insiders tell me that Fortress may be extending the December deadline for the loans, but Jackson’s sale of Neverland would seem tied to that date. Jackson had been hoping that the prince of Bahrain would be backing him in a new record label, with distribution by Island/DefJam Records.
But that deal hasn’t happened. Jackson may actually feel like his back is against the wall financially.
źródło: http://www.foxnews.com/story/0,2933,173652,00.html
/Niestety NewsTeam nie może się w tej chwili zająć tłumaczeniem/
/MJowitek/
