₦airaland Forum

ValCon888:
The guy is worth £500 million.
WTF do you mean by save for the future?

Michael Jackson dies owing up to $500m

Financial turning point appeared to come in 1993, when Michael Jackson paid $22m to settle a lawsuit brought by the parents of a 13-year-old boy.

It seems implausible that an artist who sold more than 100m albums during his career could be broke, but Michael Jackson is said to have died owing anything up to $500m (£302m).

With the huge global success of Thriller and the follow up album Bad, Jackson became one of the most bankable stars of the 1980s, giving him the leverage to earn unusually large royalties from the sale of each disc.

He became known for increasingly lavish spending and bought the sprawling Neverland ranch in Santa Barbara for $14.6m in 1988, including a funfair and zoo. In one of his shrewdest business moves, at the peak of his fame in 1985, Jackson paid $47.5m for ATV Music, which owned the copyright to songs written by the Beatles' John Lennon and Paul McCartney, outbidding McCartney himself. Owning the songs earned him a steady stream of royalties every time one of the songs was either played on the radio or performed.

In 1991 he signed a $65m recording deal with Sony.

But the turning point appeared to come in 1993, when he faced a civil lawsuit brought by the parents of the 13-year-old boy Jordy Chandler. Jackson, who paid $22m to settle the case, became ever more reclusive and[b] his financial situation apparently spiralled out of control. A recent press report suggested that Jackson may have burnt through $1bn in the past 20 years. No one knows for sure what he spent his fortune on but there was a clue in Martin Bashir's 2003 documentary, in which the singer splashed out $6m in a single store on a shopping trip.[/b]

The financial strain began to show in the mid-1990s when he agreed to merge ATV with Sony's library of songs.

Cash crisis

But still his finances worsened. In recent years, he became mired in lawsuits filed by creditors, including the lawyers who had defended the singer in another child molestation trial in 2005. During that trial, which ended in an acquittal, details of Jackson's finances were trawled over. One accountant testified that he had an "ongoing cash crisis" and was spending $20m to $30m a year more than he earned. Prosecutors said he had a "billionaire spending habit for only a millionaire's spending budget".

Earlier this month, the organisers of a proposed Jackson 5 reunion concert filed a $40m claim against the singer. The New Jersey-based promoter AllGood Entertainment claimed breach of contract and fraud, demanding $20m in compensatory damages and another $20m in punitive damages, claiming that Jackson had promised not to perform solo ahead of a show scheduled for next year. Other suits in recent years were lodged by Union Finance & Investment Corporation, which sought $12m in unpaid fees, and a $7m claim from the sheikh Abdulla bin Hamad Al Khalifa, the second son of the king of Bahrain who claimed he had given the singer millions of dollars to produce an album, a stage musical and write an autobiography, none of which appeared.

In 2001, Jackson had used his half of ATV to secure a $200m loan from Bank of America and in 2006 was forced to refinance the loan to stave off bankruptcy.

In March last year, Jackson faced foreclosure on Neverland although a real estate investment firm came to his aid, setting up a joint venture with him to take ownership of the ranch. In April he called a halt to a public auction of his belongings including jewel-encrusted concert tickets, stage-wear and music memorabilia.

Jackson was said to have still been making an annual income of $19m. But the singer had not released any new material since the album Invincible in 2001, which had not been a success, and had not performed live for over a decade and there were hopes that the comeback tour might solve his financial crisis for good.

https://www.theguardian.com/business/2009/jun/26/michael-jackson-finances-lost-fortune

9jayes:
They should bring their $$$ and let me help them change it to naira

DAVE5:
If nah lagos, no matter how careful you drive, you must carry scratch

If no be danfo, e go b keke, or brt or reckless drivers, or some peeps wey Dey jealous ur fine looking car

quentin06:
david is a feedofile.

TeamSimple:
Marketing Coza lol

Humphrizy:
Some churches Don turn to business centers.

They wan use Davido shine unto Dancing Galala tinx

dasparrow:
Listen, you are an inferiority complex stricken coon. Go and read history and educate yourself. Littering this thread with racist cartoon illustrations will not help your cause. Unless you have 2 Caucasian parents, the white race will never see you as one of them so go ahead and keep azz kissing the white man's behind and licking his pink sweaty balls so you can score brownie points. This is why I generally keep Nigerians at Bay. Many of you reason like inferiority complex stricken idiots which is what many of you are.

Obaiyski:
I think we are expressing our taughts here based on the this article.. Those that claimed they bring civilization to us is the con men.. They are not straight forward

matrixme:
If I were the oba of Benin, I won't have them returned. Rather, I will propose to have royalty from proceeds from the sales of tickets to view those works at the museum forever. Then I will invite the oyinbo man and give him a traditional title in Benin for his honesty.

anonymous1759:
....
Damage control the British stole the most important thing from us.
(1) replacing our language with English.
(2) replacing our culture with theirs
(3)installing democracy on us.

All these they stole from us make Africans have complex till death. We're not satisfied until we measure our success with theirs . That's One of the reasons people Bleach their skin to White.

Without colonization Africa would have been Grate in her own way, all these copy copy is as a result of complex.

Obaiyski:
I meant those exploiters are con men.. Not the Obas.. You know before all this happened those days, this people are already ahead of us.. They didn't come to teach us be knowledgeable like them, there are only using tricks to exploit us.. That's all.. That's why I called them con men

Obaiyski:
They already know that we are weak in thinking and mental exertions, that why they wouldn't stop the exploitation, instead of teaching us how we can fully possess this resources.. Call them con men

Obaiyski:
And they keep on exploiting from us till date e.g our natural resources like crude, gold etc

therajah:
The items wlll soon become personal items..finding their ways to the ogas houses..

valentineuwakwe:
I pray they will not go and duplicate the items and return the fake ones to us.....fear these whitemen!

gurunlocker:
Hope they won't make a replica??


Whereby they will send the replica and keep the original?

jerryunit48:
They will never do that , instead they will fight for Brexit so that they will be free from EU then they can continue to exploit Africa and Asia to take care of their Queen

sunnyeinstein:
Why do we keep trivializing and tribalizing ourselves in Nigeria?
Politics is about criticism with facts, not calling one's ancestors into a slander game.
Sir, I believe if we engage ourselves with fact we would arm others with the truths they can use elsewhere to educate others.
Please sir, we need to STOP the slander, ancestral bigotry and generational cursing! We are way too developed for these in my opinion.
Facts should win arguments, not abuses.
Thank you all
#OneLove

solmusdesigns:
Omoluabi

Revealed: How Buhari Budgeted N39 billion for Propaganda

In a bid to launder his already battered image, President Muhammadu Buhari has allocated a whooping sum of N39 billion in the 2016 budget to the Ministry of Information and Culture, a sum higher than the paltry N29 billion allocated to the Ministry of Agriculture.

This is a direct inverse of the 2015 budget, where Former President Goodluck Jonathan allocated the sum of N23 billion to Ministry of Information and N39 billion to the Agricultural Ministry.

The meager allocation to the Agricultural ministry has left political stakeholders wondering if the present administration aims at diversifying the economy or thriving on propaganda.

Buhari had in August, 2015 stated that Nigerians must stop paying mere lip service to agriculture, as crude oil and gas exports will no longer be sufficient as the country’s major revenue earner.

“It’s time to go back to the land. We must face the reality that the petroleum we had depended on for so long will no longer suffice. We campaigned heavily on agriculture, and we are ready to assist as many want to go into agricultural ventures,’’ Buhari stated.

However investigations by Post Nigeria revealed that Buhari’s words did not match his action following the lean budgetary provision for Agriculture.

More from: https://www.post-nigeria.com/revealed-how-buhari-budgeted-n39-billion-for-propaganda/


www.nairaland.com/attachments/3711426_laimuhammedidontowe_png3d123b27e8f04701820553cb9b600a90


https://d1ayctixdv89j1.cloudfront.net/wp-content/uploads/2016/05/Buhari-and-Mohammed.jpg

joelbooks:
Good one, Governor Sanwoolu
GREEN LINE: From Marina through Victoria Island, Lekki Phases 1 and 2, Ajah, Ogombo, Lekki Airport to Lekki Free Trade Zone.
PURPLE LINE: To start from the Redemption Camp going through Ogba, Iyana Ipaja, Igando and terminating at Ojo.
YELLOW LINE: From Otta through Isheri Osun, Ejigbo Mafoluku, Isolo to national Theatre.
ORANGE LINE: From Ikeja coursing through Mile 12, Ikorodu, Alapadi, Eligana, Isiwu, Imota and terminating at Agbowa.

tete7000:
The way they are celebrating, you will think the project is done and dusted... Mediocrity runs deep in our veins...

Wickedtruths:
You are a known political "hallelujah boy" without any plan for his life or future. Once you expire, I hope you'll be proud for your children to continue your vendor work.

laptopsale:
Illitrates like you are the reason why our leaders can do anything and go away with it , do you have much that the government claimed has been spent on that project with nothing to show?
The light rails Morocco and Ethiopia whose constructions started few years ago has been completed and are in use yet we are celebrating civil work with tax payers money.

Ode...
Olori buruku.

ojuoluwani:
Oct 20, 2014
LAGOS State Governor, Babatunde Fashola, yesterday, gave a breakdown of how his administration expended the N160 billion World Bank loan it acquired, saying the state maintained a healthy debt profile.
Fashoa, who spoke during his commemoration of 2,700 days in office and achievements in the last 100 days, in Alausa, Ikeja, said long overdue refund would go a long way in reducing the debt profile of the State, which he said the Federal Government recently published to mislead the public.

He said, “Recently, our political adversaries issued statements that we have borrowed N160 billion. What they have not told you is what we are doing with the money.”

Enumerating his government’s activities within the period under consideration he said; “In the last 100 days, we have commenced work on providing street lighting on the Muritala Muhammed Way in Yaba.

This is 10 kilometres of public lighting which will be completed by the end of this month. On Eko Bridge, Carter Bridge, Ikorodu Road, Lekki-Epe Expressway and every street and highway where there is street lighting in Lagos, it is the Lagos State Government that supplied the poles, the bulbs, the diesel and the maintenance.

“The only major highway we are not managing for street lights is the 3rd Mainland Bridge.

Fire engines, to secure lives, rail transport from Okokomaiko to Marina, with four stations of eight kilometres completed, and work heading to Marina, with piles appearing near the Eko Bridge every day are the places your Government is spending money. The expansion of the Lagos Badagry Expressway to a 10-lane highway is another place where your Government is spending money.

http://www.vanguardngr.com/2014/10/lagos-spent-n160-bn-world-bank-loan-fashola/

Addis Ababa Light Rail (Amharic: የአዲስ አበባ ቀላል ባቡር) is a light rail transportation system in Addis Ababa, Ethiopia. It is the first light rail and rapid transit in eastern and sub-saharan Africa.

A 17-kilometre (11 mi) line running from the city centre to industrial areas in the south of the city opened on 20 September 2015, inaugurated by Prime Minister Hailemariam Desalegn. Service began on 9 November 2015 for the second line (west-east). The total length of both lines is 31.6 kilometres (19.6 mi), with 39 stations. Trains are expected to be able to reach maximum speeds of 70 km/h (43 mph).

The railway was contracted by the China Railway Group Limited. The Ethiopian Railways Corporation began construction of the double track electrified light rail transit project in December 2011 after securing funds from the Export-Import Bank of China. Trial operations were begun on 1 February 2015, with several months of testing following that. It is operated by the Shenzhen Metro Group.

https://en.wikipedia.org/wiki/Addis_Ababa_Light_Rail

Resurgent2016:
Everyone can't be a zombie like you. Some of us will see what is bad and criticise it regardless of our tribal affiliation.

Also if criticising the governor of Lagos automatically makes someone an easterner, then I give up on your stupidity.

magicminister:
This dude sucks was literally set up for success but so far, nothing tangible has been achieved. We don’t want to see half-assed achievements. We want to see those trains up and running!!!
What are you doing about the trailers on the highway?

Fashola is the best governor Lagos has ever produced and his shoe is gonna be really big to fill so I guess the likes of this guy will have a hard time meeting the high expectations of lagosians.