Monday, September 19, 2011

$30M - Is It Enough?

This week, the Michael Jackson Estate released documents to the media of the payment that Katherine Jackson and Michael three children, along with unnamed charities will be receiving. In the documents, as told through this article -

The estate was able to pay off the debts that MJ had before his murder through the "This Is It" movie. They were able to refinance the catalogues that MJ had, MiJac and the Sony/ATC catalogue. The article also states that since Michael's murder, the estate has made over $310 million dollars.

To many people who are not so quick to fall for every move that the estate makes and proclaims what they have done was "great", this can come off as somewhat a payoff.

Why would some fans think that way? Remember, the family, some family members, wanted to contest the will because they feel that something is wrong with the will. They also feel that the will is invalid. If Katherine accepts the money that the estate give her and the children, it can be even harder for some Jacksons and Katherine to contest the will. It can also make it difficult for some of the Jacksons to be against the estate because, the way it is being perceived, the estate seems to be kind to Katherine and the children and for some members to be against the ruling could make them look like those members are angry that they are not getting the pay.

Also, there are some fans, who are not supporters of the estate, who are not happy that Katherine accepted the payoff. I can understand their point of view, but I might also understand why Katherine had to take the money. Let's look at the much bigger picture -
Here is the reality: Katherine is 81 years old and she is too old to work. Katherine is now taking care, with the help of other family members, Michael's three children. The children are too young to work so they cannot provide for the family. Two of the children, Michael Jr. (Prince) and Paris Katherine go to an exclusive private school known as The Buckley School located in Sherman Oaks, California. The school is a preparatory school for grades K-12 grade. Family members that attended and graduated from the school were Tito's sons, Taj, Taryll & TJ Jackson and Randy's daughter, Stevanna Jackson.

Unlike public school where parents who enroll their children in school do not pay tuition, with private school, parents who enroll their children have to pay a tuition. In order for Katherine to make sure Michael Jr. and Paris Katherine gets the best education and to stay in the school, she, or whoever handles the finances, has to pay the tuition. Here is a link of the tuition costs -

When you are reading the information carefully, you will see that tuition for one child from grades 6-12 is over $30K. Now, multiply that by two - that is over $60K. That is more than a state & private college/university tuition! You also have to put in mind for Katherine to accept the deal, food, clothing and shelter has to be paid off as well. The Havynhurst estate was recently remodeled and the remodelers have to get paid of the work. Add in the bills, paying employees, paying staff, lawyer fees, etc. The $30M can definitely come in handy.
At times, you have to deal with the evil person or persons in order to get your needs met. In this case, it was necessary.

There are some that might think that the estate giving Katherine $30m is enough for her and the children. I beg differ. I think $30M is too low to give to Katherine considering the mass amounts of money that was made after Michael's murder.

Randy Jackson, Michael's younger brother and one of the few Jacksons against the will and executors, stated on his twitter account the Estate made a profit of $1 billion dollars. I believe the this statement from Randy to be 100% true.

It would be weird to give Katherine and the children $30m dollars when the estate made $1B. It is chump change in comparision. Why give Katherine and the children $100M instead of $30m? Or $200M instead of $30M? The estate stated more money will come in the future but when? When an entire estate made a profit of $1B dollars and the mother and children of the deceased is getting a measly $30M, where is the rest of the money going to? Think about that for a minute - do you understand how much money is $1B???? That is a lot of damn money. That can feed every poor nation in the planet! So, who else is getting paid here if Katherine and the children are getting 2% (that is an guess I made up.) of the earnings of the Estate? Sony plants? So called "fans"? AEG? Some members of the media? We know the executors and their lawyer and friend, Howard Weisman are getting their pay but the rest of the money except the money use to pay the debts, are going to who?????

Also in the article, the Associated Press or the estate, whoever is the source to the article, stated that Katherine is going to sell the Encino compound and purchased a new home that they are currently staying at in Calabases. When I read this, I was horrified that Katherine would sell her dream home. A home that Michael loved. A home for all Jackson family members to come over and stay.

Good to know that Jermaine Jackson, Michael's older brother, set the record straight on his twitter account regarding the Encino compound being in the market. He stated -!/jermjackson5/status/114269723822264320

Sept. 15th -

RE HAYVENHURST: Mother has NOT expressed a wish for it to be sold. It won't be sold. She had no idea about such a thing. It's a false report

We have no idea who or what lies behind the initial report on AP. All we know is that Mother will not be selling Hayvenhurst


So, it seems like it is not true that Katherine has put Hayvenhurst up for the market. I would think the Associated Press would know better not to create lies. Then again, the media has become a joke in the past 30 years.

Always ask questions and weight the pros and cons on things.