Saturday, June 27, 2009

Bookmarks: Some stuff to read on the internet - Michael Jackson

Amongst the acres of coverage of Jacko, there are some things worth reading - The New York Times dealbook on his dealings with Private Equity companies, for example:

A lot of Mr. Jackson’s monetary dealings have been conducted in private. But several of the pivotal moments have been described in media reports over the years.

Driving many of the deals was Mr. Jackson’s increasingly unmanageable debt load — something that private equity firms can probably relate to these days.

A 2006 article in The New York Times said the principal drains on Mr. Jackson’s finances may have been “monumentally unwise investments that apparently produced equally colossal losses” — and, later, the payments to service his debt.

A financial adviser to Mr. Jackson described how he might have frittered away $50 million on things like amusement-park ideas and “bizarre, global kinds of computerized Marvel comic-book characters bigger than life.”