James L. Walker, Jr. Esq.

BY JAMES L. WALKER, JR., Attorney, Author, Adjunct Professor, Entrepreneur and Businessman

Image Source Brisbane Times

In less than 10 days, we will celebrate 2 months since the death of the King of Pop: Mr. Michael Jackson!

And, while the confusion continues, one thing is clear: It’s All About the Benjamins, i.e., the millions of dollars at stake!

For example, we don’t even know if Jackson is buried?

We don’t even know if a concert tour is coming featuring the brothers, Janet Jackson or some hybrid thereof?

We don’t even know what’s gonna happen to Neverland Valley Ranch?

We don’t even know if Debbie Rowe is the mother of the two older kids, or Claire Cruise, who called a press conference last week claiming she was the mother? And, we have no clear idea of who Blanket’s mother is?

And, of course, there is the omnipresent Joe Jackson: we have no clue if he’ll ever be quiet?

But, again, what we do know is: It’s All About the Benjamins!

Like your LA neighbor Rodney King once pleaded: Can’t we all Get Along?

The family, the Estate, the promoters, the managers and of course, the lawyers, are all duking it out over money.

And today, another lawyer appeared in court to represent the interest of the three children. Yet, another expense!

And, the saddest part is that there is enough money to go around for everyone if they could huddle up and agree on one thing: we all one to make money off this estate and maximize the revenue streams!

In my book on the entertainment industry, I have a chapter that focuses on how Muhammad Ali, who hasn’t fought in decades, sold the trademark and rights to his name for $50 million and retained some of the residual royalties in the future.

When James Brown died, it was estimated that the Godfather of Soul’s musical catalogue was worth nearly $100 million.

And, we all have heard that Elvis Presley’s estate turns $150 million to his heirs and family, who have cut several deals.

So to the MJ family and estate team: cut the deal and stop fighting.

MJ’s portfolio value and related interests will trump all those deals and values combined!

Come on gang, let’s play nice!

Resolve this dispute over the $60 million movie deal with Columbia pictures and Sony and move on to other deals.

I mean, we have all chastised and ridiculed Joe Jackson for his quick self-promotion just days after the funeral.

However, now, I think Joe Jackson is the only one that seems to get it: let’s stop bickering, cut deals, and everyone gets paid, even the attorneys on both sides who are leading the charge.

As an entertainment lawyer, when you advise groups or these types of large families with various entertainers (Janet Jackson, Michael Jackson and the Jackson Brothers), each group has an entourage.

So, bring all handlers, managers, lawyers, agents and publicists for the various Jackson Family members into one room and show them that if we do some of the things below, we can generate $100 – $200 million annually.

We have all heard that the MJ debt is estimated at $400 million.

If everyone huddle up in one room and we can pay that debt in two years or less!

READ: lawyers get in a big expensive conference room, with those good sandwiches, plenty of juice and coffee and get this thing done already and withdraw all the legal actions!

It’s time to conduct a press conference with all of the brothers, sisters, parents and extended family members present, but one person serves as the spokesperson.

Sending Jermaine on Larry King every week is not wrapping up the legal fights.

Present a united family front, one that is mindful of the many millions of people worldwide who cared so deeply for Michael and who are also grieving.

To calm down the demand by millions to be a part of this memorial celebration and for those who could not crammed into the much too-small Staples Center, announce a week-long celebration kicking off on August 29th (MJ’s birthday) and ending Labor Day weekend thereafter.

Millions would be made and it would just put a much needed positive spin on this sad and epic Shakespeare-like tragedy.

Cut another deal for millions in the development of a European tour (and possible domestic tour) featuring a Jackson Five/Jackson Family Reunion Tour.

Include all of the Jackson siblings, and possibly invite Usher or Justin Timberlake, artists who are very successful and admittedly incredibly influenced by MJ to fill in for MJ.

If you haven’t done it already, get some more benjamins by partnering with Sony Records, Motown or whomever is Jackson’s current label and crank out albums like Tupac’s mama and Biggie’s estate to the tune of millions annually. (Tupac has more than 10 posthumous albums; and I believe Biggie has at least 5 albums since his death, making millions for their estates).

Get with the networks and announce a Jackson Family Special on BET to “Remember The Time”.

More millions!!!

Also, as MTV initially refused to air Black videos, this is a wonderful time to meet with them and announce a partnership and TV special or shoot reality show.

I am a member of NARAS and I’m sure they would probably want to do something to commemorate the death of such a legend like Michael Jackson.

So Jackson Family go meet with the National Academy of Recording Arts and Sciences (GRAMMYS) and announce that Michael Jackson will be honored in 6 months at the 52nd Annual Grammys with the show being dedicated to him, as well as the creation of a special award named in his honor.

Lastly, get some clearance with the neighbors and the city or state, and work out a deal that Neverland Valley Ranch will become the Graceland of the West Coast as Elvis’ brilliant team did in Memphis.

Also, go back to Gary and create a museum and school, with the proceeds from these business ventures going to The Michael Jackson Foundation, various charities, and offset the expenses of the ranch.

Whether or not you follow all of these suggestions or none of them, regardless of what side of the table you sit on, just admit one thing to us: It’s All About the Benjamins!!!!

James L. Walker, Jr. is an attorney who is based in Stamford, CT. He is the owner of the law firm of Walker & Associates (www.walkerandassoc.com), recently named CT SBA Minority Business Champion of the Year. He is also the Author of the top selling “This Business Of Urban Music” and an adjunct professor of Entertainment Law at UCONN Law School. He can be reached at jjwalker@walkerandassoc.com.

By James L. Walker, Jr., Author, Adjunct Professor, Attorney and Businessman

jwalkerbook@yahoo.com

Here we go again!

Another one of our multi-million dollar pseudo celebrity Alpha males disrespecting a woman and the male-dominated media wants to focus in on the character of the woman and whether she extorted the man.

ESPN reported this morning that married celebrity basketball coach Rick Pitino admits to having an affair with a woman he met at a bar several years ago.

According to ESPN, over five years ago, Karen Cunagin Sypher and Pitino met in a bar and later that night had some sort of sexual contact. Pitino claims it was consensual, Sypher now claims it was rape.

Sypher has been indicted by a federal grand jury. She has pleaded not guilty to charges that she lied to the FBI and attempted to extort money from Pitino, if he wanted to keep the matter hush-hush.

With all of these cases, it’s his side, her side and of course, the truth, which we’ll probably never know.

However, what we do know is: Pitino, according to a police report obtained by the Courier-Journal newspaper in Louisville, admitted that he had sex and later gave Sypher $3,000 for an abortion and it appears to hopefully, make it all go away quietly.

We also know that Pitino most likely have a morals clause in his near $10 million dollar, multi-year contract, so he is technically in violation of that clause if the school really wanted to flex muscle and void his contract.

This is a sad tragedy on so many levels.

First, the way the story is being reported today by several media outlets seems to only emphasize a “woman trying to extort Rick Pitino” and she allegedly “lied” to the FBI.

Uh hello!

Pitino is a married man, father, role model to dozens of players and a coach of young kids!

Shouldn’t the lead story be: “Married coach, who makes millions and is a role model to dozens of youths, gets drunk, picks up a woman, has sex, then attempts to cover it up with an abortion?”

This is just horrible, by any stretch.

Moreover, am I the only one thinking he needs to either voluntarily take a leave of absence from his job, step down immediately or be fired by the University?

If Pitino doesn’t, you can be assured within days, the victims’ rights advocates and women’s groups will be all over the University of Louisville to take action.

And my hope is that the media does not impose the normal double-standard, because this is RICK PITINO, one of the legends of college basketball.

When Pokey Chatman had her alleged sexual misconduct at Louisiana State, the top female basketball coach was gone!!! She lost everything, including her $400,000 base salary, for allegedly messing with a former player and had to resign. She had won over 100 games and lost maybe 20 or so.

And, why is it when Kobe Bryant went through his sexual romp at a Denver hotel room, the media machine initially attacked the female victim, her reputation and credibility?

Kobe returned to his wife and has endorsement deals, an NBA ring and an Olympic Gold medal on his mantle since then.

Am I the only one asking, “Why is a married coach and role model like Pitino not home with his 5 kids, but at a bar and picking up women?”

One professional female said to me today, “What about the young men who come to his school from single family homes and look to him as a father figure and role model? What does he say to them now?”

Exactly!

And, my question is how does he sit in the living room of a mother on a recruitment visit and promise, “I will take care of your son…and set an example for him?” (“So long as there is no bar nearby or woman I want to sleep with on a given school night?”)

Even if we find out that he did not rape her as Sypher claims or that she lied to the FBI and tried to extort him for money, the point is, Pitino put himself in this boat and horrible situation.

He is a great coach on the hardwood floor.

Pitino is in the top 10 among active coaches in the country when it comes to wins. He’s 29th on the all time list, and has won over 500 games.

So now it’s time to win off the floor by doing the right thing.

Do the 5 R’s as I often call them: Regret, Remorse, Respect, Responsibility and then Rehabilitation.

Pitino must show Regret that this happened and great Remorse for his contribution and poor judgment.

He must Respect woman and take Responsibility for what he did, particularly paying Sypher to get an abortion.

Then, step down and get off the coaching circuit and go Rehabilitate his name, reputation and family in the midst of this PR nightmare.

If he truly understands the sorrow he has caused his players, fellow coaches, family and school, he will step down.

The school doesn’t need Pitino’s baggage and the daily media circus when Sypher’s case potentially hits a court room and all the facts tragically come out about that night (or nights), that Pitino wishes he could take back!

James L. Walker, Jr. is an Attorney, Author, Adjunct Professor and can be found at www.jameslwalkeresq.com or contacted at www.walkerandassoc.com. Walker has represented a number of pro-athletes, major artists and sports and entertainment related businesses.

The Business of Michael Jackson: Why the King of Pop Is Wealthier in Death

By Kenya N. Byrd

If anyone knows the music biz inside out it’s attorney and author James L. Walker. In 1989, Walker launched his career working with the late Phyllis Hyman and has worked closely with the Jacksons in the past when his client was signed to their family label, Modern Records. Recently, Katherine Jackson appeared in court to address the handlings of her son’s estate as well as the financial allowance to care for MJ’s surviving three children and herself. Walker breaks down Michael Jackson’s potential value for ESSENCE.com – and why he’s far from broke and even wealthier in death.

ESSENCE.COM: Since Michael’s death there have been many reports that he was not in a healthy financial standing. Is that true?

WALKER: What disturbs me most is that since his death and over the years there is the misnomer that Michael Jackson was broke and was losing everything. This is so untrue and shows the complete inaccuracy of reporting and the misunderstanding of how the music industry works. When Michael Jackson was alive and heading into his 50-date tour, his value on paper was approximately $800 million to 1 billion dollars, based on my understanding of the 750,000 songs he owned or co-owned in his partnership with Sony/ATV Music and his MIJAC Publishing and related companies.

ESSENCE.COM: What did MJ’s publishing deal entail?

WALKER: Let’s break down publishing in its simplest analogy. First, a song has two halves – writer and publisher. The writer owns 50 percent of the song, a publisher takes half of that, which means that once a label is involved they are truly only receiving 25 percent. So I don’t believe that Michael’s label owns 50 percent of any of the songs he’s written, but a quarter.

ESSENCE.COM: In terms of musical wealth, how do you think the King of Pop has fared?

WALKER: Let’s use his best-selling album of all time, “Thriller,” which sold 59 million copies, as an example. My calculations are based on today’s economy. Under copyright law a writer receives a “statutory rate” of 9.1 cents for the use of their song and $1.75 for every minute the song goes over four minutes. Because labels want to pay the least amount of royalties, they urge artists to keep the song length under five minutes. Therefore, if the album were released today, Michael and his cowriters would receive more than 86 cents in mechanical songwriting royalties alone from each album sale, which means just from the album MJ made $51 million. Should this include singles, the “Thriller” track by itself would have made the publisher and writers nearly $ million.

ESSENCE.COM: Whoa! But what about everything else, such as licensing and all those things?

WALKER: Besides the fact that he profits from jukebox income, synchronization royalties (music used in videos or film, commercials, etc), sampling fees (using hook or snippets of a song on average use of about 20 seconds depending on the artist, he could get an upward of six figures); ring tones, and performance rights.

ESSENCE.COM: We can hear the register now. But MJ also owned an extensive catalog, and his 50 percent ownership of the Beatles’ catalog is reportedly worth half a billion dollars. Is that true?

WALKER: Exactly. Michael did it smart. He was one of the first Black artists to think about owning his publishing as well as buying publishing from rock n’ roll to Motown music collections. He owns Sony/ATV catalog featuring songs by the Beatles, Elvis, Babyface, Eminem, and Jackson himself. Based on what I explained about the going publishing deal rate, you can imagine the near billion dollar value of his entire catalog. People might not have understood why he paid $47.5 million for the Beatles’ catalog, but it’s also why he’s considered one of the business geniuses of this industry.

Attorney James L. Walker is the author of “This Business of Urban Music,” a professor of Entertainment law at the University of Connecticut School of Law and alegal expert for CNN and BET.