And don`t forget the subscription to Boys Life.
Posted on 03/09/2005 11:06:14 AM PST by Hillary's Lovely Legs
Lisa Marie Presley had a hit called "Lights Out in Memphis," but she never could have dreamed it up concerning her ex-husband: The lights could go out at Neverland today.
It seems that Michael Jackson's famed ranch and retreat, the site of many good works, and also some nasty allegations, could be losing its staff.
Sources have confessed to me that last Friday, for the second week in a row, the payroll was not met.
Many operating expenses, including the phone and electricity bills, have gone unpaid as well.
The blame for all this is being laid at the feet of Michael's brother Randy, who took control of the pop star's finances and life about a year ago when brother Jermaine and the Nation of Islam got the boot.
Randy is highly unpopular among Michael's loyalists, but what took place last Friday seems to have been the breaking point.
Staffers who went home again without checks were told that Randy would make good on salaries by yesterday. When that didn't happen, he was given a deadline of this morning to come through — or else.
I'm told that chaos ensued on Friday when Michael came home after a long day in court.
He had to face his father, Joseph Jackson, who'd been summoned by Michael's accountant Alan Whitman.
Joseph and his wife Kathryn have remained at the ranch ever since, keeping the peace among ranch workers who are ready to walk.
So what's going on?
This column was first to write about Jackson's financial woes back in July 2001. As others have speculated about his ownership of the Beatles catalog and of Neverland itself, we've been on the case trying to untangle the mysteries of his accounting.
Randy has too. About three months ago, he hired his own accountant and instructed Whitman, who has long tried to rein in Jackson's wild finances, to answer to him.
According to my sources, it takes around $350,000 a month to run the 2,700-acre ranch, including the costs of staff, maintenance and the zoo. That breaks down to roughly $75,000 a week.
Jackson got a long-term loan of $350 million from Bank of America a few years ago. He also gets royalties, both from album sales — he's still selling about 15,000 CDs and DVDs a week, mostly of "Thriller" — and the publishing rights on his own music.
About two weeks ago, I'm told, Whitman became concerned that the Neverland operating accounts were running dry. The CD and publishing income was not appearing in Jackson's Bank of America account.
"There was nothing to draw on," my source reports.
Afraid that the usual intermediaries wouldn't alert Jackson, Whitman contacted Michael's father, I am told.
Joseph Jackson, who had been in London, immediately went to Neverland last Friday when he returned Stateside. The result was a showdown that has still not been resolved as of this writing.
The big question of course is: Where did the money in the Neverland operating account go?
I am told that when Bank of America receives payments on behalf of Jackson, it sends the money directly to Whitman.
"It would be impossible for someone to get between them in the process," my source said.
Even more intriguing is the report of Randy's promise to make good on the missing funds. Where would he suddenly find the kind of money needed to cover the ranch's operating expenses?
Speculation is that Randy, Michael's younger brother, has been cutting deals for the pop star without his knowledge. Believe it or not, sources tell me, offers in the half-million dollar range come in almost daily for endorsements.
The word from Neverland is that since Randy assumed control of Michael's world about a year ago, the younger brother has purchased a penthouse for himself in Miami and moved one of Michael's Bentleys there for his own use.
"When Michael found out about that, there was a huge blowout," my source said.
Calls to Randy Jackson and Alan Whitman were not returned.
I would be ticked off if my brother took one of my Bentleys for his own use also.
"It seems that Michael Jackson's famed ranch and retreat, the site of many good works, and also some nasty allegations, could be losing its staff. "
Hmmm I smell some bias here -> "good works" and "nasty allegations".
Excuse me but the boy is a sick pedophile.
a sick homosexual pedophile
This guy has some serious problems. If he doesn't go to jail he will certainly have the creditors on his back. 250 million in debt and his last album flopped. See ya buddy!!
I've solved that problem by not having any Bentleys.
Former employees could be witnesses against Jackson. Without money, I don't think he inspires much loyalty.
How much money did Lisa Marie make off of marrying MJ? That had to have been a sham marriage.
Even more of a sham was the marriage to Debbie Rowe. I wonder how much he paid her to sacrifice her children to him.
Yeah - take one of the Lamborghinis, or mebbe the Aston-Martin, but not the Bentley, f'Petessake. My brother knows better.
I learned how to drive in my dad's Bentley. I didn't know that it was a fancy car, I thought it was an old cab from England. People kept telling me that a Bentley was a Rolls and I thought that they were making fun of me.
And don`t forget the subscription to Boys Life.
Lisa Marie must have done it for the publicity. Somehow I don't think she's ever been hurting for money.
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