His suspicions arise from the fact that Michael Jackson has taken out loans and his lenders wanted collateral, which was none other than his Beatles catalog. Mr. Gregory stated that Michael Jackson did not mind offering that up as collateral because every time he would come out with a record he would make around $500 million from his efforts. For those who doubt those claims, he explained that there is a mischaracterization that occurs when people think about what is success for Michael Jackson. Although he may not achieve the outrageous sales of his more youthful days a majority of successful artists sales would pale by comparison.
Mr. Gregory found it odd that every time Michael Jackson is about to come out with an album or moneymaking venture he is hit with a scandal and that this situation is no different. He also admonished the audience not to forget that Michael Jackson embarrassed SONY and music mogul Tommy Mottola when he claimed that they were racist and that they took advantage of and mistreated Black artists.
Not holding anything back, Mr. Gregory stated that Rev. Al Sharpton, who came to the defense of Michael Jackson during this time was soon overwhelmed by media coverage of a video tape which showed individuals attempting to frame him in a drug deal. He went even further stating that this type of behavior could be traced to Bill Cosby and the suspicious murder of his son Ennis, who was gunned down while changing the tire of his Mercedes on a California highway. He claims that this happened after Mr. Cosby hinted that he wanted to purchase NBC when it was up for sale.
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