Michael Jackson - The machine was too much Despite how weird and uninteresting I thought Michael Jackson had become, I watched the news yesterday, as it was interesting on a business and personal finance level. The news agencies reported that Michael Jackson owed $500 million or 1/2 billion dollars, and that these debts were backed up by all of his musical and real estate assets and incomes.
I'm absolutely dumbfounded that an individual can owe $500 million. They had Michael Jackson's business consultant on CNBC this morning and the consultant mentioned that he had helped Jackson from avoiding bankruptcy in 2004.
The Machine is too big for an individual. In my opinion, Michael Jackson was on so many drugs, reports include demerol and morphine, just to avoid his life and his debt responsibilities.
He had a major tour scheduled in London and the revenue was reported at $50 million for 50 days. If the star is on that many drugs, and in that rough of shape, would he be able to even do a tour? The point that I'm getting at is this: business and individuals are great at building structures these days. But we're building things that are too large to handle. The banking system almost failed because it was too large for even the government to handle. In Michael Jackson's case, it seems that his empire was way too large for him to handle.
TOO BIG TO FAIL?!! This is certainly a attribute of our society these days. It seems that there are many companies that are too large to fail, including General Motors and AIG Insurance.
Many individuals have taken on considerable amounts of debt in their lifestyle, and it's causing structural problems for themselves and their families. Too much debt can be a problem if your health suffers, and you begin to lose control on how to make payments on the debt. I think this is definitely the case with Michael Jackson - especially since his debt was an unbelievable $500 million
I'm absolutely dumbfounded that an individual can owe $500 million. They had Michael Jackson's business consultant on CNBC this morning and the consultant mentioned that he had helped Jackson from avoiding bankruptcy in 2004.
The Machine is too big for an individual. In my opinion, Michael Jackson was on so many drugs, reports include demerol and morphine, just to avoid his life and his debt responsibilities.
He had a major tour scheduled in London and the revenue was reported at $50 million for 50 days. If the star is on that many drugs, and in that rough of shape, would he be able to even do a tour? The point that I'm getting at is this: business and individuals are great at building structures these days. But we're building things that are too large to handle. The banking system almost failed because it was too large for even the government to handle. In Michael Jackson's case, it seems that his empire was way too large for him to handle.
TOO BIG TO FAIL?!! This is certainly a attribute of our society these days. It seems that there are many companies that are too large to fail, including General Motors and AIG Insurance.
Many individuals have taken on considerable amounts of debt in their lifestyle, and it's causing structural problems for themselves and their families. Too much debt can be a problem if your health suffers, and you begin to lose control on how to make payments on the debt. I think this is definitely the case with Michael Jackson - especially since his debt was an unbelievable $500 million
