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source : http://breakingustrends.blogspot.com

Actress Farrah Fawcett dies at 62


Yes, I had the poster.


It was the first Farrah poster in the dorm, but it certainly would not be the last. Many posters would follow. Until they did, however, I had a steady stream of freshmen, some of whom I had never seen before, passing through my room. They just stared at the space above my bed, their eyes transfixed on a dazzling smile and a revealing red bathing suit.

Years later, I would be reminded of that poster as I sat in bed next to Farrah.

Perhaps I should explain.

In the mid-'80s, the actress was promoting one of her TV movies, and only two interviews were granted – "Entertainment Tonight" and me.

Because it wasn't a full-blown media junket, the network had reserved a small suite in a trendy hotel on the Sunset Strip. When I arrived, I was told to wait in the bedroom while Farrah answered questions from an "Entertainment Tonight" reporter in the living room.

A publicist said to wait until the TV interview was completed, and the crew had packed up and gone. Then, they would summon me from the bedroom, and I would conduct my interview in the living room.

I sat on the edge of the bed and waited. Suddenly, the door burst open and the beautiful woman from the poster was standing in the doorway.

"I've got to get out of these clothes," she said as she ran toward the bathroom. "Let me slip into something more comfortable."

She was no dummy. She knew exactly how it sounded. I could hear her familiar giggle as she closed the door behind her.

It seemed like an eternity, but the wait really wasn't long. The bathroom door opened, and I remember congratulating myself on switching majors from political science to journalism.

Farrah Fawcett, the Texas-born beauty who became an iconic sex symbol for an entire generation of young men during the 1970s, was standing in front of me in a tank top and running shorts. She was barefoot, and her hair tumbled past her shoulders. She closed the door to the living room, leaving a stunned publicist on the other side, and leapt onto the bed.

"Do you mind if we do this in bed?"

I made a point of remembering that line exactly as it was spoken. I wanted to be able to repeat it accurately as many times as I could. I never dreamed I would recount the story again after Farrah's death at 62.

I don't remember the questions or the answers from that interview, but I do remember that I liked her.

She was friendly and open, which is all a celebrity interviewer can hope for, but she was friendly and open in a tank top and running shorts, which made it a memorable interview.

By the time of the interview, in the early 1980s, the actress had long since left "Charlie's Angels," the TV show that turned her into a household name, and began appearing in more serious fare. She was nominated for three Emmys during that period, although her film career never reached the same level of success.

She shocked a lot of people later when she posed for Playboy at an age normally reserved for women with daughters who pose for Playboy, but it probably was predictable for a fearless, but playful show business personality like Fawcett.

That same fearlessness was evident when she allowed her battle with cancer to be filmed as part of a recent documentary.

Many will remember her courage from that documentary, but if it's all right with you, I will try to remember a different Farrah Fawcett.

The poster is long gone, but the memory of that interview will remain forever.

With your permission, I would like to say it one last time: "Do you mind if we do this in bed?"





source : http://www.ocregister.com

This is the last ever photo of the late Michael Jackson, obtained by US TV show Entertainment Tonight.

But was the superstar dead in the pic? Reports have suggested that Jackson, 50, had passed away at his Los Angeles home after paramedics failed to revive him.

Jackson reportedly suffered a cardiac arrest Thursday afternoon at his Holmby Hills mansion and paramedics were unable to bring him back round.


When paramedics arrived Jackson had no pulse and they never got a pulse back, according to TMZ. Jackson was apparently dead when paramedics arrived.

Once at the hospital, the staff tried to resuscitate him but he was completely unresponsive. Jackson’s sister La Toya ran in the hospital sobbing after Jackson was pronounced dead.

The star was due to begin a series of comeback concerts with an appearance at London’s O2 arena on July 13.

He had a history of health problems and had not completed a concert tour in 12 years.

Jackson had three children — Michael Joseph Jackson Jr, Paris Michael Katherine Jackson and Prince Michael Jackson II.
Jackson’s body has been flown to the L.A. County Coroner’s Office. His autopsy is scheduled to take place Friday.

It has also been reported that Jackson passed a recent physical, and his death is to be investigated by police.


source : http://www.showbizspy.com

NEW YORK (Dow Jones)--While E*Trade Financial Corp.'s (ETFC) stock offering and debt exchange should provide sufficient capital for now, the company's future is still uncertain.

On Monday, the troubled online broker began to exchange more than $1 billion in debt, nearly a week after it raised $478.5 million in a common stock offering. E*Trade also plans to seek approval from shareholders to issue additional shares.

Analysts say the moves, though damaging for equity holders, ensure E*Trade's survival in its current state, in the near term. However, lingering credit concerns could pose a future threat, with some projecting an increasing possibility of a future sale of the prized brokerage franchise.

"I'm not sure the situation will be any different two quarters from now," said Michael Hecht, an analyst with JMP Securities.

Hecht estimates that E*Trade's loan loss provision - the amount that it sets aside to offset losses from bad loans - will decline by $50 million a quarter, but adds that its unclear how long mortgage-related problems for the company will persist.

An E*Trade spokeswoman reiterated that the company is further advanced in the credit cycle than many of its peers and the broader industry.

Last week, E*Trade estimated second-quarter loan-loss provisions of $375 million to $450 million and projected net charge-offs of $375 million to $400 million. In the first quarter, the company reported $454 million and $334 million, respectively.

E*Trade also said in its May activity report that delinquencies of 30 to 89 days in its home-equity portfolio - its greatest exposure to loan losses - fell 10% from March 31 to May 31. Delinquencies of 30 to 179 days fell 14% in the same period.

Not all company watchers agree that E*Trade faces significant future losses. Earlier Tuesday, FBR Capital Markets analyst Matt Snowling said he believes "the worst is now behind E*Trade."

Snowling raised his rating on E*Trade to outperform from underperform, adding that nearly $2 billion of capital from the offering and exchange should "alleviate regulators' concerns and take the worst-case scenario (for E*Trade) off the table."

Shares of E*Trade rose as much as 7.6% on the report, but closed up 2 cents, or 1.7%, at $1.21. The company's stock is down over 25% since announcing the capital-raising initiatives last Wednesday.

Citadel Investment Group, E*Trade's largest shareholder and bondholder, played a major role in that plan. Citadel bought 90.9 million shares through the stock offering, boosting its E*Trade stake to about 17% from 15%. Citadel has also agreed to tender at least $800 million in E*Trade's long-term debt. The hedge fund giant's founder and Chief Executive, Kenneth Griffin, recently agreed to join the finance and risk-oversight committee of E*Trade's board.

Snowling's upgrade of E*Trade on Tuesday followed that of Fox-Pitt analyst David Trone, who said "the company's chances of survival have increased, while the stock is materially cheaper."

However, Trone said a sale of the company by the middle of next year is a possibility. He identified rival TD Ameritrade Holding Corp. (AMTD) as a potential suitor.

A TD Ameritrade spokeswoman said "its our policy not to comment on other companies - industry peers or otherwise." Previously, TD Ameritrade had said it would be interested in E*Trade's brokerage business.

Not everyone agrees that the capital-raising plan will mean a future deal involving the brokerage franchise.

"I don't see how this puts them in a better position for a sale," Hecht said.

E*Trade was hurt badly by mortgage woes, setting aside more than $1 billion last year to offset losses from bad loans. The company also applied for an $800 million investment from the U.S. Treasury Department's Troubled Asset Relief Program, but has yet to receive approval.



source : http://online.wsj.com

Chicago Cubs at Chicago White Sox (4:05 p.m. EDT). The Windy City rivals begin a three-game interleague set. The two teams split their series at Wrigley Field last week with one game also getting rained out.

STARS

Thursday

-Chris Davis, Rangers, matched a career high with four hits, including the winning two-run homer in the 12th, as Texas defeated Arizona 9-8.

-Scott Podsednik, White Sox, lined a two-out RBI single in front of diving center fielder Matt Kemp in the 13th inning to give Chicago a 6-5 victory over the Los Angeles Dodgers.

-Lance Berkman, Astros, homered twice and drove in four runs to help Houston overcome an error-filled day and beat Kansas City 5-4.

-Denard Span, Twins, tripled, walked three times and scored three runs in his first game back from the disabled list, and Minnesota topped Milwaukee 6-4.

-Ichiro Suzuki, Mariners, lined the 29th leadoff homer of his career into the right-field seats and finished a triple short of the cycle as Seattle beat San Diego 9-3.

-Hanley Ramirez, Marlins, hit a grand slam as Florida cruised past Baltimore 11-3.

-Joey Votto, Reds, had a tiebreaking home run among his four hits and Cincinnati avoided a sweep by beating Toronto 7-5.

STATS

San Diego's Adrian Gonzalez walked in the seventh inning of the Padres' 9-3 loss at Seattle on Thursday, breaking the franchise record for walks in June. He has been given 28 free passes this month. ... Detroit beat the Chicago Cubs to improve to 23-11 at Comerica Park for its best 34-game mark at home since the 1984 world championship team had the same start. ... Tampa Bay's Jason Bartlett extended his career-best hitting streak to a franchise-record 19 games in the Rays' 10-4 victory over Philadelphia.

SILENT MANNY

Manny Ramirez made himself scarce in the clubhouse and didn't talk to reporters as he came out for warmups for his final game with the Triple-A Albuquerque Isotopes on Thursday night. Later, with the start of the contest delayed by rain, Ramirez wore street clothes when he walked through a back door of the clubhouse, stepped into a sedan with an associate and a Dodgers' security official and drove away.

MILESTONES

Alex Rodriguez tied Reggie Jackson with his 563rd home run, and Mariano Rivera earned his 499th career save in the New York Yankees' 11-7 victory over the Atlanta Braves on Thursday night. Rodriguez's 10th homer in the first, a solo shot, tied Jackson for 11th place on baseball's career list. ... Texas shortstop Omar Vizquel singled in the first inning of the Rangers' 9-8 win over the Arizona Diamondbacks in 12 innings for his 2,678th career hit, the most by a native of Venezuela. The 42-year-old Vizquel moved ahead of Hall of Fame shortstop Luis Aparicio, who played in 107 fewer games.

SMOLTZ STRUGGLES

Boston's John Smoltz (0-1), who spent his previous 20 seasons with the Atlanta Braves, needed 34 pitches to get through the first inning of Washington's 9-3 win Thursday night. He settled down after that, giving up a run in the third but retiring the side in order in the second, fourth and fifth. His final line: five innings, seven hits, five runs, one walk, one hit batter and five strikeouts in 92 pitches.

EARLY PROBLEMS

Johan Santana went to 3-0 counts on four of his first 11 batters - something he hadn't done in an entire game in six years, not counting intentional walks - in the New York Mets' 3-2 win over St. Louis on Thursday. Santana (9-5) bounced back and gave up two runs - one earned - and seven hits in seven innings to win for the first time in three starts and lower his ERA to 3.08.

GRAND, GRAND SLAM

Hanley Ramirez hit his third grand slam of the season in the Florida Marlins' 11-3 win over Baltimore on Thursday night, tying him for the single-season franchise record with Cody Ross (2009), Jeff Conine (2004) and Bobby Bonilla (1997).

TURNING IT AROUND

Victor Martinez went 2 for 3 with a home run and scored twice in Cleveland's 3-2 loss at Pittsburgh on Thursday night. He entered the game hitless in his past 18 at-bats, but reached base three times. He was 3 for 42 against the National League this season, but singled, walked and led off the sixth with his 13th home run.

MAGS TAGS ONE

Magglio Ordonez ended a career-worst 40-game drought without a home run by connecting for the go-ahead shot, leading Detroit over the Cubs 6-5 on Thursday for its seventh straight victory. Ordonez connected for a two-run homer in the fourth inning.

FILLING IN

Willy Aybar, starting because Evan Longoria was resting a sore left hamstring, had a solo homer in the second and a two-run single in the sixth to lead Tampa Bay past Philadelphia 10-4. Rays, who dropped the World Series to the Phillies in five games, won two straight after dropping the opener of this week's rematch 10-1.

FIRSTS

The Cubs' Jake Fox hit his first homer in the majors, a three-run shot in the first inning of Chicago's 6-5 loss to Detroit on Thursday. ... Milwaukee's Mike Burns made his first career start, giving up four runs and six hits over 5 2-3 innings of a 6-4 loss to Minnesota. Burns was called up from Triple-A Nashville to replace Dave Bush, who went on the 15-day disabled list Tuesday with a micro tear of the right triceps.

B-BOY MILESTONE

Houston's Lance Berkman homered twice and drove in four runs in the Astros' 5-4 win over Kansas City on Thursday to pass 1,000 RBIs. Berkman entered needing to drive in one run to become the third player in franchise history to reach 1,000. He did it on his first at-bat, a two-run shot that gave Houston a 2-1 lead and put him with fellow "Killer Bs'' Jeff Bagwell and Craig Biggio as the only Astros to reach the mark.

DRUG INVESTIGATION

Major League Baseball is cooperating with a federal investigation into where Manny Ramirez got the performance-enhancing drug that resulted in his 50-game suspension. The Drug Enforcement Administration is checking whether a doctor in Miami and his son were the source of the drug, ESPN reported Thursday. MLB president Bob DuPuy confirmed that baseball's department of investigations was working with the DEA. Ramirez was suspended in May for violating baseball's drug rules and can rejoin the Los Angeles Dodgers on July 3.

SORRY SOTO

Chicago Cubs catcher Geovany Soto will not be suspended by Major League Baseball or his team after testing positive for marijuana at this year's World Baseball Classic. Soto, last season's NL Rookie of the Year, drew a two-year ban from international competition by the International Baseball Federation.

SIDELINED

Arizona's Eric Byrnes will require surgery after breaking his left hand and could miss four to eight weeks. Byrnes fractured the fifth metacarpal in his left hand when he was hit by a pitch in the second inning of the Diamondbacks' 9-8 loss to Texas in 12 innings. ... Seattle placed shortstop Yuniesky Betancourt on the 15-day DL with a strained hamstring. He could be out until after the All-Star break.

SPEAKING

"On the triple, I almost died because I hadn't played in 2 1/2 weeks, so I'm a little out of shape.'' - Minnesota's Denard Span who had been on the disabled list with an inner ear infection. Span tripled, walked three times and scored three runs in his first game back Thursday.

"If I had hair like that, I'd still be single.'' - Detroit manager Jim Leyland on outfielder Magglio Ordonez, who cut his flowing locks - which are being auctioned off on eBay for charity.

SEASONS

June 26

1916 - In a game against the Chicago White Sox, the Cleveland Indians appeared on the field with numbers on their sleeves. It marked the first time players were identified by numbers corresponding to the scorecard.

1938 - Lonny Frey of the Cincinnati Reds had eight hits in a doubleheader split with the Philadelphia Phillies. Frey had three hits in a 10-3 opening-game loss and collected five in the nightcap, which the Reds won 8-5.

1944 - In an effort to raise funds for war bonds, the New York Giants, Brooklyn Dodgers and New York Yankees played against each other in a six-inning contest at the Polo Grounds. More than 50,000 fans turned out. Each team played successive innings against the other two teams then would sit out an inning. The final score was Dodgers 5, Yankees 1, Giants 0.

1962 - Earl Wilson of the Boston Red Sox pitched a 2-0 no-hitter against the Los Angeles Angels at Fenway Park. Wilson also homered in the game.

1970 - Frank Robinson hit two grand slams in the Baltimore Orioles' 12-2 victory over the Washington Senators.

1976 - Shortstop Toby Harrah played an entire doubleheader for the Texas Rangers without handling a batted ball from the Chicago White Sox.

2000 - Minor league sensation Alex Cabrera hit a two-run homer in his first major league at-bat for Arizona as the Diamondbacks beat the Houston Astros 6-1.

2006 - Oregon State beats North Carolina 3-2 for its first College World Series title.

2008 - Matt Garza struck out 10 in a one-hitter, leading Tampa Bay to a 6-1 victory over the Florida Marlins.

Today's birthdays: Elijah Dukes 25; Luis Hernandez 25; Derek Jeter 35; Jason Kendall 35.



source : http://sportsillustrated.cnn.com

Australians have been feverishly scouring the internet in search of information on the shock death of the king of pop, Michael Jackson.

So intense has the worldwide interest in Jackson been, it's caused a temporary meltdown of the world's most popular search engine Google.

For more than half an hour Google in the US experienced difficulty handling the surge in people using Jackson as a keyword.

News Limited websites have reported a doubling of the number of hits while Facebook and Twitter have been buzzing with messages related to Jackson's passing.

Google rated the search statistics for Jackson as "volcanic".

"While we're not able to provide absolute numbers on people searching, we can say that millions of users around the world have been doing searches related to Michael Jackson," a Google spokeswoman told AAP.

Google searches relating to Jackson's death filled four of the top eight spots on Friday.

More than 20 per cent of Twitter users posted comments using the term "Michael Jackson".

Just as Jackson redefined pop music, his death redefined the way Australia and the world consume major news announcements.

News of his death was broken by celebrity website TMZ.com. The rest of the world's media then followed.

It was a huge scoop for the AOL-owned TMZ, though many did not believe TMZ's report until it was matched by more established news organisations.

"Everything starts with a tip," said Harvey Levin, managing editor of TMZ.

"We wouldn't have put it up if we weren't positive."

Jackson's death was oddly not the number one read item on two of Fairfax's websites - The Age online and WA Today.

New trains and trams for Melbourne pipped Jackson's death at The Age and dodgy weather on Rottnest Island causing ferry cancellations was more popular in WA.

The hoax death of Jeff Goldblum was surprisingly more popular on Google, coming in fifth, ahead of the death of '70s TV starlet Farrah Fawcett, which rated ninth in terms of Google search words.



source : http://news.ninemsn.com.au

A partnership between Time Warner Inc and Comcast Corp will test ways for viewers to watch more TV shows over the Web, Reuters reported.

The television industry is struggling to protect its revenue while also satisfying consumers who want to watch their favorite programs on their own time.

The two company’s joint effort would essentially allow the viewing of any TV show at any time over any sort of device, such as a TV set, computer or cell phone.

However, the users must first prove they are cable or satellite customers that pay a monthly subscription fee.

Time Warner Chief Executive Jeff Bewkes called the plan a free gift for consumers that expands their entertainment choices.

Bewkes said if the approach gets adopted it would clearly be the biggest story in video-on-demand and Internet video.

Time Warner and Comcast will begin a national trial of the service in July to test out whether the system can be successful.

Time Warner's 5,000 customers who were chosen for the trial run will be able to access full episodes of shows from TNT and TBS networks like "The Closer" and "My Boys" on Comcast.net just hours after they air during their regularly scheduled times.

The test confirms that content companies will take steps to protect their dual revenue stream, and in the process will not just respond to, but will shape, the evolution of web video consumption, according to Bernstein Research analyst Craig Moffett.

Others companies on both the content and distribution sides of the business could adapt similar plans.

Similar initiatives are being discussed at pretty much all the satellite, telephone and other cable companies, Bewkes said.

Comcast Chief Executive Brian Roberts said he expected other content companies to join the approach and offer their own hit shows.

Bewkes said the approach was kind of like iTunes but it's “better because you don't have to pay”.

He calls it the "TV Everywhere" approach, in which the only requirement is that people show they pay for a TV service prior to watching shows online. Comcast calls it "On Demand Online."

Maintaining a paying audience for a TV service is essential for cable operators like Comcast and networks like TBS that collect fees from cable operators that carry their programs.

Many fear the TV industry will suffer the same devastation as the publishing and music worlds by failing to protect their shows from the free, open world of the Web.

However, the TV industry has divided the approach to securing its future.

News Corp's Fox, General Electric's NBC, and Walt Disney's ABC joined together to form Hulu.com, which carries mostly broadcast TV shows but also some content from cable.

But many in the cable business are against this approach, since audiences can watch a TV show on the Internet that previously they could see only if they subscribed to pay-TV.

But both Bewkes and Roberts say they are not reacting belatedly or defensively to the threat that the Internet poses.

Bewkes said they are simply being “offensive”.



source : http://www.redorbit.com

Shouldn’t summer vacation be over already? Our kids have work to do.

Do kids really need a three-month summer vacation? Or a puny six-and-a-half-hour school day? For some kids, sure, free time is great: Every moment is packed with camps, museum visits, picnics, tennis lessons and trips abroad. But for most, life is way duller. Hard times mean that ever more Houston kids are stuck home alone, unsupervised, their brains marinating in video games and cable TV. If ever there were a time to discuss extending school hours, this is it.

In March, President Obama started that conversation. He called not only to extend after-school programs, but to increase the number of hours in the school year. “We can no longer afford an academic calendar designed when America was a nation of farmers who needed their children at home plowing the land at the end of each day,” he said. “That calendar may have once made sense, but today, it puts us at a competitive disadvantage. Our children spend over a month less in school each year than children in South Korea. That is no way to prepare them for a 21st-century economy.”

Extra school time particularly helps minority and low-income kids. During summer vacation all kids tend to forget what they’ve learned. Academics call that well-documented slide “summer learning loss,” and studies show it’s greatest for the kids who can least afford it.

More school time is among open secrets behind the success of Houston’s KIPP and YES Prep charter-school systems, both of which have shown remarkable ability to propel low-income and minority kids into college. KIPPsters typically attend school from 7:30 a.m. to 5 p.m. each weekday — plus go to school some Saturdays and for a few weeks each summer. During those extra hours, KIPP provides its students not only with more classes, but also with sports, art and field trips — the kind of enrichment that upper-class kids get at home.

Could the Houston Independent School District try something similar? The question strikes home for school board member Natasha Kamrani: She’s married to Chris Barbic, the founder and head of YES Prep, and she’s seen the effect those extra hours can have.

Kamrani is quick to point out that longer hours are expensive — teachers have to be paid — and that they aren’t a cure-all: Good stuff has to happen during those extra hours. In classes with the worst-performing teachers, Kamrani notes, students actually lose ground as the school year wears on. “Kids in those classes,” she says, “might be better off if they spent less time at school.”

But what if HISD were very careful in its approach? Kamrani is appalled by HISD’s dropout rate: Roughly 40 percent of HISD’s freshmen fail to graduate from high school. She notes that the district’s data shows that most dropouts have something significant in common: They start falling behind in fifth grade.

What if, she asks, the district made an all-out push to stop their fall as soon as it began? What if, in sixth grade, kids at risk were assigned the district’s most talented teachers? And what if those teachers had more hours to work their wiles? Would that be enough to turn the kids’ entire lives around?

The idea needs to be tried. And it needs to be tried immediately, before another class of sixth-graders slides out of reach.



source : http://www.chron.com

“I was a Michael Jackson fan. It’s devastating. It’s devastating to see that Michael is gone. I’m going to miss him. I think it’s tantamount to (the death of) Elvis Presley. … I was at the Victory tour (at Arrowhead Stadium in 1984). Historic. I’ll never forget that.”

“I find (his death) hard to believe. I didn’t really listen to him that much. He’s a pop music icon, though. His music’s still there, so he’ll live on through that.”

“It’s very sad. I went to one of his concerts in Adelaide (Australia). And I remember going to my sister’s 6th birthday party (at a roller skating rink), and ‘Thriller’ was No. 1 at the time. The DJ had to get my mom’s permission to play (the video, which featured zombies).”

“I’m surprised. I didn’t see it coming. My money would not have been on him for the next celebrity to die. (Farrah Fawcett), I expected it because she had been so ill.”

“He kind of overshadowed Farrah Fawcett. ‘Beat It’ was always my favorite song. It was the young-rebel music.”

“I’m sorry to hear of his death. That’s too bad, but I’m of another era.”


source : http://www.kansascity.com

The L.A. company had sunk millions into the star's comeback, despite warnings that it a was a major risk.

A tragedy for his family and a heartbreak to his fans, Michael Jackson's death also represents a blow to the L.A. concert promoter that staked its reputation on and sunk tens of millions of dollars into a lavish comeback that will never happen.

AEG Live billed "This Is It," the sold-out concert series that was to have opened July 13 in London, as the most expensive and technologically advanced arena show ever. It had invested more than $20 million to mount a production that was to have included up to 22 sets, elaborate light shows and high-wire acts. The company, which owns the Staples Center among many other venues, had also set aside 50 nights at its coveted European showplace, the O2 Arena.

With Jackson's death, AEG will have to refund the $85 million worth of tickets that were sold. Gone are the company's expected profits -- an estimated $115 million, according to Billboard -- as well as plans for a global three-year tour that the company had predicted would gross $450 million.

"They are taking a big hit," said Gary Bongiovanni, editor of concert-tracking publication Pollstar.

Among the company's immediate priorities, he said, will be trying to find other acts to fill the O2, a 20,000-seat arena that does not rely on resident sports teams to occupy its seats. Jackson concerts were scheduled to run through March.



"They will be able to re-book some of those shows. But those in July, the building will probably be dark. You have an empty building, and that's going to have an impact on their London operations, certainly," he said.

AEG struggled to get affordable insurance for the shows, given Jackson's history of canceling tours and his 12-year hiatus from performing. Chief executive Randy Phillips vowed to self-insure the shows if carriers wouldn't, and ultimately the company secured coverage for what Phillips called "the first $23 million."

Mary Craig Calkins, a Los Angeles lawyer who specializes in insurance issues, said many entertainment companies get several kinds of policies before a big tour, including one that specifically covers the health of the star or "key man."

"Usually, they would put in place a package that would have multiple aspects to it. If you are headlining Michael Jackson, you have to have Michael Jackson at the show, so we would expect they would have a policy that would cover if he got laryngitis or had a minor traffic accident or died," she said.

AEG officials declined to comment on their insurance or the financial consequences.

"We're dealing with a tragedy. We have no comment on that," a spokesman said.

In an interview last month, Phillips said that when the company announced the Jackson comeback, he was derided by colleagues in the industry.

"Everyone was very unsupportive. . . . You know, 'He'll never do it. You're fooling yourself.' All of that," he said.

Phillip said he persevered, convinced by a physical that showed Jackson was in good health, a contract that bound the singer to show up and a conviction that "in this business, if you don't take risks you don't achieve greatness."

AEG had produced other "concert residencies" for singers, including Celine Dion and Prince, but Phillips had hoped Jackson's performances would cement the company's reputation among artists.

"When you do the greatest artist ever in the history of contemporary music, I think there is a halo effect for us in terms of booking other artists," Phillips said then.

AEG Live is a unit of Anschutz Entertainment Group, which is owned by Colorado billionaire Philip Anschutz.

"The one thing about Anschutz is at least he's a billionaire. It's not going to put him out of business," Bongiovanni said.





source : http://www.latimes.com