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Thursday, February 12, 2004
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GOT TO BE STARTING SOMETHING
Imagine having to come up with 70 million dollars by Tuesday. Yikes! That's, like........87 zeros. In other words a ton of money. It's a particularly intractable problem when you haven't been able to make a living in the country where you live and the terms of your bail prohibit you from travelling to countries where you can make a few bucks.
In other words, it looks like Michael is fucked.
Michael, if he defaults on the loan, will lose MJJ publishing. MJJ is his personal publishing company, which holds the copyrights to his own catalouge. ATV, the holders of the Beatles publishing, is being used as collateral for another, 200 million dollar loan from the Bank of America. Add to this the reported 200 million, that Jackson owes his former label, Sony and you have a guy with fewer fluid assests than I do.
Somewhere out there, Paul McCartney is laughing his vegan balls off.
I know I beat this horse with Mike Tyson a couple of days ago, but who knew that insane people are so bad with money?
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