Neverland NOT Being Auctioned? CNN article pg3

How do you feel about Michael Jackson? Got any info you want to share?

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Neverland NOT Being Auctioned? CNN article pg3

Post by R e a f u » Tue Feb 26, 2008 10:44 pm

Not sure if this is another rumor from someone questioning Michael's financial troubles.

2/26/08 9:42 PM.

LOS ANGELES, California (AP) -- Michael Jackson's Neverland Ranch will be put up for sale at a public auction next month unless the pop star pays the more than $24 million he still owes on the property, according to a Tuesday court filing.

Financial Title Co. filed the notice of trustee's sale with Santa Barbara County Superior Court, setting the auction date for March 19.

A spokeswoman for Jackson did not immediately return a call for comment.

Julie Wagner, a manager at the San Francisco-based title company, confirmed that Jackson's property was set for auction.

Court documents obtained by Fox News warn Jackson that he has until the date of the auction to take action to keep his lavish Los Olivos estate.

Source: CNN.com News Article

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Neverland NOT Being Auctioned? CNN article pg3

Post by danaluvsmj » Wed Feb 27, 2008 12:33 am

Sounds like old recycled news to me, but I think we should wait for further confirmation.
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Neverland NOT Being Auctioned? CNN article pg3

Post by R e a f u » Wed Feb 27, 2008 12:42 am

[QUOTE=danaluvsmj;202025]Sounds like old recycled news to me, but I think we should wait for further confirmation.[/QUOTE]

For sure! The only thing that is slightly different is that a date is given when Mike needs to pay up. But that too could be a load of you know what.

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Neverland NOT Being Auctioned? CNN article pg3

Post by whisper » Wed Feb 27, 2008 1:16 am

Apparently there are some documents stating the property is on the auction list. I haven't read them because I simply don't care to.

Its his decision to make, his property. He can do (or not do) whatever he wants with it, whether he decides to junk it (let it go up for auction) or keep it.

Neverland isn't "Neverland" anymore. It hasn't been "Neverland" for at least 5 years now and who can blame him.

If I owned that piece of property and something catastrophic happened like what happened to him, I think it'd bulldoze everything. But whatever decision he decides to make is his. I'll support him no matter what.

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Neverland NOT Being Auctioned? CNN article pg3

Post by R e a f u » Wed Feb 27, 2008 1:22 am

[QUOTE=whisper;202027]
Neverland isn't "Neverland" anymore. It hasn't been "Neverland" for at least 5 years now and who can blame him.

If I owned that piece of property and something catastrophic happened like what happened to him, I think it'd bulldoze everything. But whatever decision he decides to make is his. I'll support him no matter what.[/QUOTE]

Couldn't have said it better myself. Still its so sad that it has come to this.

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Neverland NOT Being Auctioned? CNN article pg3

Post by 4evermjj » Wed Feb 27, 2008 7:50 am

I agree as well, whisper. He can do with it whatever he wants to.

It's still sad somehow ... but I understand if he decides to sell it/ let it go to auction.
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Neverland NOT Being Auctioned? CNN article pg3

Post by Justlookingaround » Wed Feb 27, 2008 9:12 am

Here is the thing I wonder about. If Neverland is not the same anymore why didn't he sell it? Why did he pay the county taxes no more then a few weeks ago. For him to have his ranch auctioned is embarrassing just the possibility of it happening is embarrassing. His house and ranch he can do what he like but if he did not want selling it and making profit would have been better then letting someone auction it. And, Bain said this was going to happen but it is happening not her fault she just does what she is told to do. This makes the both of them look bad. But having said that there is nothing we can do about it so lets see what happens

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Neverland NOT Being Auctioned? CNN article pg3

Post by InspirationMoonwalks » Wed Feb 27, 2008 9:33 am

I saw this at the bottom of the screen on the news this morning (and yes, I did say the bottom of the screen, so it must not be FINAL yet, because you KNOW they'd have been all over it if it was..)...
Here is the thing I wonder about. If Neverland is not the same anymore why didn't he sell it? Why did he pay the county taxes no more then a few weeks ago. For him to have his ranch auctioned is embarrassing just the possibility of it happening is embarrassing. His house and ranch he can do what he like but if he did not want selling it and making profit would have been better then letting someone auction it


I totally agree. It's all well and good to say "Oh, he doesn't want it anymore", "he's not interested in it anymore" and that could be true, but that's really not the point. If that was the case, the logical and most beneficial thing for him to do would've been to just sell it after the trial, rather than let this drag on and out for almost 3 years. I mean, who actually WANTS to see their property foreclosed on? It's one of the least desirable things to have happen financially (and of course as a celebrity, he knows his business is going to be all over the news.). PLUS, if this happens, he won't even see a cent of the profit. :unsure: I just can't believe he'd actually OPT to see that happen, especially when his people have been explaining and negotiating this, over and over again. It would appear that at least some effort is being made to prevent it. And now the amount is $24 million; wasn't it somewhere in the neighborhood of 30? Maybe he's already paid some of it down? :idontknow lol.

I mean, I understand where fans are coming from on this, but I just don't buy that he'd actually want to let this happen. I mean, it's kind of like saying "Oh, I don't feel like paying my rent anymore, I don't want the place, so I think I'll just let them kick me out". No, if that happens, you either sell or try to get out of the arrangement..you don't LET something be forcibly taken from you, through arbitration. That just does not make sense. Something is missing here that will probably end up coming to light before this is all said and done. And you know that hardly anything they report is ever at the face value, it's going to pretty much inevitably be spun in some way, at least when it comes to Michael. So, I'm going to wait and see before I jump to any conclusions..

But it WILL be sad if, if, IF this comes to pass...:( It's sad that it's even come down to this point in the first place..*sighs*
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Neverland NOT Being Auctioned? CNN article pg3

Post by Justlookingaround » Wed Feb 27, 2008 9:38 am

The only explanation I can think of is that he does not have the money. Once again having said that if he does not have the money why isn't he working to make the money. Michael is living in Las Vegas he could pull down so much cash if he needed it. He also has a rich sister So, clearly it is not a money thing something else is going on here.

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Neverland NOT Being Auctioned? CNN article pg3

Post by Ben » Wed Feb 27, 2008 9:42 am

Whatever the problem is with Neverland, Michael will resolve the matter very soon. These stupid panic stories about Neverland and Michael's finances re-surface in the media every month or two and nothing bad ever actually happens. This story will be forgotten in a day or so, and then another Michael Jackson will lose Neverland story will appear again in a month or two.
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Neverland NOT Being Auctioned? CNN article pg3

Post by InspirationMoonwalks » Wed Feb 27, 2008 9:43 am

[QUOTE=Justlookingaround;202036]The only explanation I can think of is that he does not have the money. Once again having said that if he does not have the money why isn't he working to make the money. Michael is living in Las Vegas he could pull down so much cash if he needed it. So, clearly it is not a money thing something else is going on here.[/QUOTE]

And how is he continuing to afford his lifestyle and galavanting all over the world, etc? :lol No, something is clearly missing here. Maybe it's yet another thing connected to the accounting, which we learned before was being mismanaged (which came to light when he sued those people, when Raymone released that thing about his suspicion that certain people were trying to bankrupt him, etc). Clearly, there is a disconnect of some sort here. I'm sure it will all become clear over time. :)
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Neverland NOT Being Auctioned? CNN article pg3

Post by Justlookingaround » Wed Feb 27, 2008 9:49 am

And that is the thing how could he live the way he is living if he was broke he can't. How can he pay Bain those lawyers get those clothes from that too expensive fashion designer? The guy has money so something else is going on here we just don't know what and me never know

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Neverland NOT Being Auctioned? CNN article pg3

Post by Ben » Wed Feb 27, 2008 9:49 am

[QUOTE=Justlookingaround;202036]The only explanation I can think of is that he does not have the money. Once again having said that if he does not have the money why isn't he working to make the money. Michael is living in Las Vegas he could pull down so much cash if he needed it. He also has a rich sister So, clearly it is not a money thing something else is going on here.[/QUOTE]

I do believe there is something quite odd going on with Michael finances. But I don't believe he's broke like the media say and wishes he was.

Michael doesn't need to work as in be a pop star to make money because he makes money from Sony/ATV and MiJac Music, as Michael has a career as a music publisher outside being a musician and entertainer. If Michael was in dire need if money he would have announced some dates for a tour. Touring is how many pop stars can make a lot of money if they are broke or on a very low royalty rate.

Also Thriller25 was released last week, and it's been a bigger success than fans and Sony expected so Michael will be making money from Thriller once again.

But I agree that money obviously isn't the issue and that something else must be going on .
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Neverland NOT Being Auctioned? CNN article pg3

Post by Justlookingaround » Wed Feb 27, 2008 9:56 am

And one thing about his publishing. If Sony wanted to they could have bought 25 percent of Michael's catalog for over a billion dollars. If Michael was broke and could keep up with them in terms of the catalog they would have bought him just to save the catalog. And if there is something "odd" going on with his finances how long is he going to allow it to go on?

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Neverland NOT Being Auctioned? CNN article pg3

Post by InspirationMoonwalks » Wed Feb 27, 2008 11:09 am

[QUOTE=Justlookingaround;202041]And one thing about his publishing. If Sony wanted to they could have bought 25 percent of Michael's catalog for over a billion dollars. If Michael was broke and could keep up with them in terms of the catalog they would have bought him just to save the catalog. And if there is something "odd" going on with his finances how long is he going to allow it to go on?[/QUOTE]

Plus, Michael was given the option, I think back in '06, to sell and let go of the ranch when he refinanced the catalog, but opted to hold onto it. He's had multiple opportunites to make money off of it, but obviously hasn't taken them. Unless he is just SO filthy rich that he can afford to say "**** it", :lol But then again, why would he be in this position in the first place? It just doesn't add up..:unsure: We're probably not even getting the full story here...
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