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Jacko Up “Thit” Creek

WWW- Yesterday I told you that Michael Jackson had shut down his Web site and fired his two of his closest confidantes.

Jackson’s situation is very “Boy Who Cried Wolf.” All year I’ve been telling you he has no money, but somehow at the last minute, someone has bailed him out.

But that’s not happening right now. While Jackson continues to live off the Prince of Bahrain, his situation at home is very bad. Recently, financial insiders told me that Jackson has stopped paying many of his insurance premiums.

Now word from within the Jackson camp on the West Coast is that Jackson has run out of money for the remainder of this year. He’s also said to be in default with Fortress Investments, the group that holds his $270 million worth of loans. And the loans come due on Dec. 20, just six weeks from now.

Insiders tell me they think Fortress will give Jackson an extension, but in reality they could probably foreclose right now and own Jackson’s half of Sony/ATV Music Publishing and all of his MiJac Publishing.

Jackson is in a financial bind now, like we predicted last year, and the year before, and the year before that. But as we also predicted, he’s done nothing to solve the problem except spend millions more in travel and recreation since the end of his child molestation trial in June.

Now just when you think things can’t get any weirder, Jackson is said to have authorized a new Web site to take over from his shut-down mjjsource.com.

The new site is run by 20-year-old B.J. Hickman of Knoxville, Tenn. – the fan who haunted the trial all last spring.

That’s the same Hickman who was served with a temporary restraining order by former Court TV reporter Diane Dimond, about whom he made many loud and inappropriate comments through a mesh fence for four months.

Jackson, according to sources, thinks Hickman is just great and has been in contact with him a lot all year.

 

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