Datsymay
Proud Member
I recently listened to the MJ interview with Jessie Jackson, held during the time of the trial. MJ was bound by a gag order, and was unable to expound on his answer to Jessie, when jessie asked him if he thought his problems were the result of him owning the catalogue.
MJ told Jessie that there was a BIG FIGHT going on at the moment and there was conspiracy all around him and he couldn't speak about it because of the gag order.
During the trial, it came out that John Branca was working with Sony and some bank was set up with conspiracy in mind against MJ.
I was most surprised and alarmed when I read that MJ had given Branca 5% of his share in the company. Knowing what I know about companies, I couldn't understand why MJ would have done that. It would have been better for him to pay in cash.
I believe MJ was banking on Branca's loyalty and support , but that didn't happen. I can't blame Branca, it was business, as I believe MJ is aware.
The problem with that is though that Branca siding with Sony, may have been the reason for the war that was going on at the time. MJ could have been housted from the catalogue desicions just by Branca aligning himself with Sony, which may be what happened.
After the court case, Branca, suddenly decided to sell his share, I wonder why, Did MJ force him to sell by virtue of having discovered malpractice on his part? Anyway, MJ would have had first refusal, as the share was from him.
Now here is the crunch. If MJ couldn't afford to buy Branca's share, the offer would have gone to Sony. That would have been disasterous to MJ because he would have permanently lost control of his catalogue to Sony, cause all sony needed was that 5% and they would have had overall control. MJ would have been relegated to a mere shareholder without any say in the company at all, and may even have been force to sell it.
MJ had to make a quick decision. He offered up Neverland as collateral to get the money to buy that 5%. It brought him back on level pegging with Sony and now he earns a salary from them and everything seems to be fine according to his CEO.
In my view, MJ sacrificed Neverland for the catalogue, which was far more valuable and worth saving.
What would you have done, facing the same situation.:2cents:
MJ told Jessie that there was a BIG FIGHT going on at the moment and there was conspiracy all around him and he couldn't speak about it because of the gag order.
During the trial, it came out that John Branca was working with Sony and some bank was set up with conspiracy in mind against MJ.
I was most surprised and alarmed when I read that MJ had given Branca 5% of his share in the company. Knowing what I know about companies, I couldn't understand why MJ would have done that. It would have been better for him to pay in cash.
I believe MJ was banking on Branca's loyalty and support , but that didn't happen. I can't blame Branca, it was business, as I believe MJ is aware.
The problem with that is though that Branca siding with Sony, may have been the reason for the war that was going on at the time. MJ could have been housted from the catalogue desicions just by Branca aligning himself with Sony, which may be what happened.
After the court case, Branca, suddenly decided to sell his share, I wonder why, Did MJ force him to sell by virtue of having discovered malpractice on his part? Anyway, MJ would have had first refusal, as the share was from him.
Now here is the crunch. If MJ couldn't afford to buy Branca's share, the offer would have gone to Sony. That would have been disasterous to MJ because he would have permanently lost control of his catalogue to Sony, cause all sony needed was that 5% and they would have had overall control. MJ would have been relegated to a mere shareholder without any say in the company at all, and may even have been force to sell it.
MJ had to make a quick decision. He offered up Neverland as collateral to get the money to buy that 5%. It brought him back on level pegging with Sony and now he earns a salary from them and everything seems to be fine according to his CEO.
In my view, MJ sacrificed Neverland for the catalogue, which was far more valuable and worth saving.
What would you have done, facing the same situation.:2cents:
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