Posted on 01/14/2008 5:52:03 AM PST by silent_jonny
LOL!!!
ROTFL!! OMG! That is so great.
OMG! LOL!!!
LMAO!! “Monchichi Meets World”
Because it's Beatles night??
Absolutely agree..she could put out a CD tomorrow..great voice..
You mean, like this one? (Amazon also has titles by Carly Hennessey, David Cook, and Kristie Lee)
Bless you, my son...many thanks..I sooo miss Haley..
Just scanning the thread....great job, as always..many thanks..BTW..where is SirLnksalot theis season?
I didn’t know..but $80?? insane..
BTW.. I still play my Carmen Rasmussen CD
Out of print and in demand because of AI.
A little info re MJ the Beatles catalogue...I’ve been somewhat following the financial implications, but we have to do a litle unravelling.
MJ bought the catalogue..I believe he originally paid $100 million for it ( the actual number isn’t that important now..it’s the concept) so..stay with me here)
It’s been a great investment..appreciated at an awesome rate. Not may be worth as much as $ one billion.
Some years ago, when the catalogue was estimated to be worth about $400 million. MJ assigned 50% of it as collateral for a loan..we all know he’s a big spender.
The catalogue also provides an annual royalty income of anywheres from $50-$150 million.
Now, over the last few years, it’s believed that MJ may also have borrowed against the catalogue once, or twice, even..IOW..pledging the SAME collateral for 2 different loans. That’s fraud..bank fraud..
It’s also been reported that he has ALSO pledged the annual royalty stream as collateral for a loan ( or loans)Possibly more bank fraud..multiple counts.. Seems back then, everyone was eager to lend to MJ..for the celebrity factor and the due dilligence was severely lacking.
And they’ve let him get in arrears, not because they were afraid to foreclose..and the bad publicity, but they didn’t want to upset the whole unstable applecart.
See, there is ONE other really BIG problem..It’s called the IRS..Seem he bought the catalogue for $100 mill..So the creditors foreclose, bid on it, and it goes for $ 1 Billion..A foreclosure is the same, for tax purposes, as a sale...and that’s a sale with a $900 million long term capital gain..and as a California resident...well, figure that the total tax liability is $300 million...and the IRS and California file liens at the time of sale, they get paid FIRST.So I’d assume that after it’s all done, there would be a NEGATIVE equity of $200 million, or more. The lenders get screwed, and they’d have to go after MJ’s future earnings..not a pretty concept to contemplate.
Oddly enough, the same thing is occuring in the housing market implosion today. Consider a person who bought a house 20 years ago in a now hot market..say the Hamptons...say he paid $100k for it...the house kept appreciating..got up to $ 1 million, and over the years the person had taken out $900k in H/E loans, and spent the money..The housing market has collapsed...it’s now worth $700K..the person has to sell...or walk away. He sells, he still has a gain of $600k..on which he owes $200K in taxes ( forgetting the one time CG exclusion, which may not necessarily apply..) so the math is..proceeds from sale $700k..liabilties..mortgages $900K, taxes due..$200K..total due $1.1 million...less $700k proceeds..deficiency of $400k.
BTW..If a person walks away...the forgiven mortgage debt is deemed income tot hat person, and subject to taxes..
Rephrase..it’ll soon be reissued..maybe at $14.99..
The fiddle action in Kristy Lee's rendition was TOO MUCH! Add the tempo into the mix and it had me running from the room.
My pick to go home: One of these three: Syesha, Ramiele or Kristy Lee.
It’s not just you. :)
Goody. Thanks for letting me know. ;)
MJ assigned 50% of it as collateral for a loan..we all know he’s a big spender.Now, over the last few years, it’s believed that MJ may also have borrowed against the catalogue once, or twice, even..IOW..pledging the SAME collateral for 2 different loans. That’s fraud..bank fraud..
Maybe he pledged the 'other' 50%?
And if one waits a little bit, who knows, they might get a bargain at $2.99 for any of the competitors. ;)
I think it would be safe to say that Brooke is probably a nice conservative girl, which makes it even better.
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