Attorneys for Michael Jackson’s family accused concert promoter AEG of trying to smear the singer as debt-ridden and irresponsible through testimony from an expert financial witness.
For all of his fame and wealth, Michael Jackson was mired in debt and spending millions more than he was earning each year, a financial expert testified Monday.
An expert who projected Michael Jackson could have earned more than $1 billion on his comeback concerts testified Tuesday that his analysis didn’t include a breakdown of the singer’s yearly earnings over his lifetime and projected a longer concert tour than the superstar had ever performed.
Stocks lost some of their early gains and turned mixed Monday despite the death of Osama bin Laden, several strong earnings reports and a major drug industry acquisition.
Stronger earnings reports from Ford and 3M helped drive stocks higher Tuesday. The Standard & Poor’s 500 index was headed for its highest close since the financial crisis.
Mixed corporate earnings reports sent stock indexes wobbling Monday.
Wall Street will focus on another full slate of corporate earnings this week as several big companies report their first-quarter performance.
Stocks are poised to open lower after two bellwether companies missed Wall Street earnings estimates.
Newly released figures show that the personal income of California residents declined last year for the first time since World War II.