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frank dileo now on the atv board

Soundmind said:
Katherine was getting 60.000$ a month, but according to many here MJ did not have the cash.
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I don't think " MJ did not have cash" is meant to be taken as

when we don't have cash. Besides, didn't he use to have a lot

of cash in the house? Weren't there some looking for the cash

in the house after MJ passed?
 
According to TMZ the cash in the bank was $668,215.00
 
MJ had enough money to take care of himself , his kids and his mama , all these extra expenses were associated with the concerts and MJ demanded that AEG pay an advance to cover everything . Even if AEG did not pay anyone and MJ decided to not go forward with the concerts he would have been sued and ruined financially , what's the point of a contract if you are not going to deliver what you agreed to do in the first place ?He did not want to do the concerts , he should not have signed a contract in the first place, MJ was a professional and he knew what to expect when such a document was signed .

during the trial Legrande testified Sony approached MJ in 2002 with an offer to pay him $ 10 millions for his shares in two songs for Chirstmas but he REFUSED . why would MJ risk everything to get 6 millions to pay the prince of Bahrain when two songs out of his 700.000 songs would generate 10 millions to him ?

you don't believe me go read the transcripts, Legrande delivered this answer in a reply to sneddon's claims that MJ was bankrupt and had no money .
 
rainny said:
According to TMZ the cash in the bank was $668,215.00
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that was in 2007 before the refinancing deal was made , TMZ alo mentioned Bank accounts with 12 millions to pay credits and loans .


mj refinanced in december 1997 and was given at the time 25 millions in cash for personnal expenses , another 13 to settle 12 pending lawsuits .

according to Raimone Bain he spent 6 millions on arts and antiques , she asked the judge to freeze his accounts at the time, and listed his wish to buy the Sultan of Brunie's mansion in Vegas as an evidence of his irresponsible behaviour . by the way she was cut off a month before the deal took place, MJ created two trusts at the time and she had no idea what he did with them , or where the money went , she last was on board November 2007 . But she did negotiate the deal at the time and knew what was going on after the deal took place she was removed as a trustee .

so Vic MJ had 25 millions for personal expenses in the beginning of 2008 and another 13 millions to pay 12 pending lawsuits , he was that much desperate for money lol
 
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My understanding that Michael was having a cash-flow problem comes from a statement in an interview of Frank DiLeo that Michael could not afford to hire his own videography crew. It's well-known that Michael documented rehearsals with his own crew and retained ownership of the tapes, and he even had his own crew taping the Bashir interviews (hence, the Michael Jackson version of events and out-takes). That he would not hire his own crew for the TII rehearsals was very unusual for him.

Also indicating a cash-flow problem was that Michael was relying on AEG to pay his rent, his staff, and his living expenses, AND giving his mother a stipend. "Cash-flow" means money that is accessible -- i.e. not tied up in trusts, real-estate, and so on. It's money that can be USED to pay expenses, without having to liquidate a trust or sell off real-estate. I think it's pretty obvious that Michael was having a problem with liquid assets.
 
yeah we know about the cash flow but seeing as mj came back to L.A cause of the deal with AEG starting the arrangements for the tour etc. (as thome said at the time) then id be wanted AEG or whoever to fork out for me moving because of the deal i had just done with them aswell. if mj had AEG paying for pretty much everything (until it was taken from the tour profits if it would have been) then that was a good deal on his part
 
elusive moonwalker said:
yeah we know about the cash flow but seeing as mj came back to L.A cause of the deal with AEG starting the arrangements for the tour etc. (as thome said at the time) then id be wanted AEG or whoever to fork out for me moving because of the deal i had just done with them aswell. if mj had AEG paying for pretty much everything (until it was taken from the tour profits if it would have been) then that was a good deal on his part
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AEG was paying for a lot more than just moving expenses. They were paying staff, and rent, and so on.

Well, whether or not it was a "good deal" depends a lot on whether the money (for rent, staff, his mother's stipend, etc.) was an "advance" on earnings, or actual payment for working on the rehearsals? If a cash-advance, then he faced a lot of problems if the concerts weren't completed.

I'm quite sure Michael signed the TII contract in good faith. Things change? He really might not had an accurate idea of what kind of physical shape he was in, since he hadn't performed a concert in a long time. What IF, he began to prepare and realized he wasn't going to be in shape, or wasn't going to be in good shape SOON enough? If the money paid to him was an advance on what he would earn for the TII concerts, then he'd be unable to cancel or postpone without taking a huge financial hit.

This is all just conjecture, though. We have no way of knowing what kind of physical shape he was in (that insurance exam that either did or did not happen), or how much he owed AEG.
 
again i did not say they paid his mother any thing , Vic don't run with that , I expalined what i meant by that statement .

as for the rent and all other expenses they were all part of the tour as elusive said . MJ did not have to pay any of these expenses if he did not sign the deal .

aain frank said mj spent 8 millions last year , but he got 25 millions at the beginning of 2008 for living expenses .
 
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AEG was paying for a lot more than just moving expenses. They were paying staff, and rent, and so on.
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well thats the same thing to me. they wanted him to relocate they paid for the L.A house and any staff that was needed. until they could get the moeny back from the tour profits if they were gonna get any at all.like if someone invites u to london for a show for example id expect those who invite you to pay for the hotel etc. like with jerm in his 5 star london hotels for the uk prog he was on i doubt he was paying for that

'm quite sure Michael signed the TII contract in good faith. Things change? He really might not had an accurate idea of what kind of physical shape he was in, since he hadn't performed a concert in a long time. What IF, he began to prepare and realized he wasn't going to be in shape, or wasn't going to be in good shape SOON enough? If the money paid to him was an advance on what he would earn for the TII concerts, then he'd be unable to cancel or postpone without taking a huge financial hit.
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true but im sure he had insurance just like AEG had insurance to cover such things. not sure what this has to do with frank etc. its all normal business practice. nothing strange
 
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elusive moonwalker said:
mj appointed the ppl to the board. ppl to represent him. he appointed bain to the board at some point. was shown in docs i guess from her lawsuit.then after she was sacked.when was that late 08 i think.(infos all in the media reports if ppl are bothered about searching) mj then appointed frank in her place. dont know the exact date
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I could be wrong, but wasn't Thome on the Sony board after Bain & before Frank? I thought I read that.

I found the link - Dileo replaced Thome according to Dileo, does not give exact date though.

link:
http://www.jacksonaction.com/index.php?page=view.php&id=6831&section=articles

Where does that leave you at this point?
There are a few things that have to get cleared up. I have to make sure the estate understands some of the things that I know. I’ve been appointed to the board of Sony/ATV Music Publishing. So I have a role to play there. Michael wrote the letter getting me appointed. After they removed Dr. Thome, they added myself and Joel Katz.

I thought Joel Katz was appointed after he died, not sure. My research so far just says he is an Atlanta attorney, entertainment attorney.
 
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Some more info on Joel Katz:

This is his website:
http://www.gtlaw.com/People/JoelAKatz

stuff he is currently on:


  • Member, Georgia, Tennessee, American, and Atlanta Bar Associations
  • Board of Directors, Kiz Toys, Inc., 2010-Current
  • Board of Directors, Digital College Network, 2010-Current
  • Board Member, Charity Partners, LLC, 2009-Current
  • Member, Southern Region Board of Directors, T. J. Martell Foundation, 2009-Current
  • Board of Directors, TouchTunes, 2009-Current
  • Member, Board of Representatives, Sony/ATV Music Publishing, LLC, Appointed by Michael Jackson, 2009-Current
  • Member, Initial Board of Directors, GRAMMY Museum, 2008-Current
  • Chairman, Abu Dhabi Investment House “ENTERTAINMENT CITY” Advisory Board, 2008-Current
  • Chairman, Abu Dhabi Investment House "FASHION CITY - PORTA MODA" Advisory Board, 2008-Current
  • Special Counsel, Rock and Roll Hall of Fame, 2006-Current
  • Fellow, Royal Society for Encouragement of Arts, Manufacturers and Commerce (RSA), 2005-Current
  • Music Industry Representative, State of Georgia, Film, Video and Music Advisory Commission, Appointed by Governor Sonny Perdue, 2004-Current
  • General Counsel, The Recording Academy (NARAS), 2003-Current

He was also legal counsel for Jermaine on the Victory tour:

http://www.michael-jackson-trader.co...ctorytour.html

Tour Business Support:

Tour Consultant: MCA Inc.
Road Manager: Nelson Hayes
Assistant Road Manager: John Kuramoto
Michael Jackson Business Management: Marshall Gelfand
Legal - Michael Jackson: John Branca and Gary Stiffelman
Legal - Jermaine Jackson: Joel Katz
Press - The Jacksons' Tour Publicity: Howard Bloom Organization
Press Representative for Michael Jackson: Norman Winter Associates
Press Coordinators: Ginny Buckley, Neil Friedman
Tour Book Design & Art Direction: Norman Moore
Tour Book Photography: Harrison Funk, Mathew Rolston, Greg Gorman, Leon le Cash and Don Camp
 
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