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Printable Mindflux said: 2funkE said: Here is what I do not understand. While Prince is clearly a rediculously talented entertainer, time has shown that he is pretty much lacking in the running a business realm. Can't he find someone to take care of this stuff? Is it just a control/trust issue?
Here is what I don't understand - that people take the line that Prince is a crap businessman. This isn't a "fammy" statement, so hear me out. The man has earned a fortune over the years and there are still plenty of bucks rolling earn, from royalties alone. The other "business ventures" may not have been successful from a consumer point of view, but they may well have been brilliant for him. He may not extend a good customer experience, but he might have made a fortune out of virtually nothing. Let's take Lotusflow3r as an example - I have no idea how many people joined but, if it was 100,000 then that's a cool £7.7million dollars for, let's be honest, not doing a lot. Set-up and running costs would be negligable compared to that revenue, likewise the manufacture and postage of (some) t-shirts. Even if the subscription were half that figure, that's still a tidy some of money for very little investment. Not admirable for the consumer granted, but there'll be many a businessman who would envy such a thing and could only dream of making such returns. So, perhaps he's not such a crap businessman after all! Crappy business practices, maybe.....but not running a "successful business, maybe not  ----- Co-Sign I don't think figuring out how to put up a website with no downloadable product stupid. I don't think copyrighting all the music and the names of the groups stupid. I don't think putting your own CDs out and getting Target to pay you upfront is stupid. My guess is P's business ventures are financially successful for him | |
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laurarichardson said: Mindflux said: Perhaps - but, you know, this kind of thing goes on all the time. Businesses and individuals with large amounts of money play the system all the time so that their money is working for them. The level of interest earned on a large sum of money can be greater than the penalties imposed by being late - for all we know, Prince's accountants are actually being clever and letting his money earn more before the bill gets paid. And before anyone says that the interest on $200k may not be that much, it could be that the sum is part of a much larger sum owed and, therefore, holding that entire amount as long as possible will earn a large sum of interest. Everyone who watches their money will use tax-breaks and loopholes to retain or earn as much as possible. The instant assumption that this story implies something negative (Prince refusing to pay tax bills/cannot afford to pay/just plain lazy) just shows where other people's minds are at, I guess  ----- Shows that a lot of people on P org are ignorant about wealth mgmt. The super rich spend vast amounts of time and resources getting out of paying taxes. I remember a story a few years ago about P fighting the property tax accessments on his properties in the state. For all we know he could still be figthing the taxes. In addtion, I am sure he has an account/business manager who handles the bills. Head your informative self over to the Lotusflow3r forum and explain to the folks that changed their cc info on Prince's site and sent numerous requests to cancel their memberships, only to find this morning that they were STILL charged for a 2nd years subscription, how wealth management works for the super rich!  I knew from the start that I loved you with all my heart. | |
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HatrinaHaterwitz said: laurarichardson said: ----- Shows that a lot of people on P org are ignorant about wealth mgmt. The super rich spend vast amounts of time and resources getting out of paying taxes. I remember a story a few years ago about P fighting the property tax accessments on his properties in the state. For all we know he could still be figthing the taxes. In addtion, I am sure he has an account/business manager who handles the bills. Head your informative self over to the Lotusflow3r forum and explain to the folks that changed their cc info on Prince's site and sent numerous requests to cancel their memberships, only to find this morning that they were STILL charged for a 2nd years subscription, how wealth management works for the super rich! Hehe - I did make it clear that it wasn't admirable
Has that actually happened then? I know it can't have for me, as the card I used 12 months ago no longer exists
*just seen the appropriate thread edit!* [Edited 3/25/10 9:50am] ...we have only scratched the surface of what the mind can do...
My dance project; www.zubzub.co.uk Listen to any of my tracks in full, for free, here; www.zubzub.bandcamp.com Go and glisten | |
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Paris9748430 said: SupaFunkyOrgangrinderSexy said:  he lost his gutter lawsuit against the youtube baby or maybe you didn't hear?!  Uh, he wasn't the one suing. The mother was suing him. But, I see you're not letting a silly thing like facts get in the way of a good argument!!! You love semantics 2010: Healing the Wounds of the Past.... http://prince.org/msg/8/325740 | |
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SupaFunkyOrgangrinderSexy said: Paris9748430 said: Uh, he wasn't the one suing. The mother was suing him. But, I see you're not letting a silly thing like facts get in the way of a good argument!!! You love semantics 
You keep using that word. I do not think it means what you think it means. We don’t mourn artists because we knew them. We mourn them because they helped us know ourselves. | |
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Wow this has not been a good year for Prince:
1. Ireland concert lawsuit 2. Youtube dancing baby countersuit 3. 3121 perfume lawsuit 4. In collection agency for nonpayment to Lotusflow3r recording engineer/mixer 5. and now delinquent taxes? Prince has stated himself his dislike of the tax system. One of the reasons he demolished his properties was to lower the value for tax assessment purposes. For people arguing that tax payment problems are not unique to Prince, you are right. Nor do they as such represent a major crisis. HOWEVER, put in context of all these other business/legal scenarios, and the picture is not pretty. "That...magic, the start of something revolutionary-the Minneapolis Sound, we should cherish it and not punish prince for not being able to replicate it."-Dreamshaman32 | |
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HatrinaHaterwitz said: laurarichardson said: ----- Shows that a lot of people on P org are ignorant about wealth mgmt. The super rich spend vast amounts of time and resources getting out of paying taxes. I remember a story a few years ago about P fighting the property tax accessments on his properties in the state. For all we know he could still be figthing the taxes. In addtion, I am sure he has an account/business manager who handles the bills. Head your informative self over to the Lotusflow3r forum and explain to the folks that changed their cc info on Prince's site and sent numerous requests to cancel their memberships, only to find this morning that they were STILL charged for a 2nd years subscription, how wealth management works for the super rich! ----- Perhaps you need to learn about wealth management so you and others don't get taken to the cleaners the next time around. Unlike you I did not join the website and managed to keep my $77.00 in my pocket. Read the disclaimer next time and go dispute the new charge on your credit card and stop wasting your time crying about it on this board. P is going to continue to make his money and you need to live and learn and move on. | |
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Genesia said: SupaFunkyOrgangrinderSexy said: You love semantics
You keep using that word. I do not think it means what you think it means. Thank you teacher for the education 2010: Healing the Wounds of the Past.... http://prince.org/msg/8/325740 | |
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laurarichardson said: Mindflux said: Perhaps - but, you know, this kind of thing goes on all the time. Businesses and individuals with large amounts of money play the system all the time so that their money is working for them. The level of interest earned on a large sum of money can be greater than the penalties imposed by being late - for all we know, Prince's accountants are actually being clever and letting his money earn more before the bill gets paid. And before anyone says that the interest on $200k may not be that much, it could be that the sum is part of a much larger sum owed and, therefore, holding that entire amount as long as possible will earn a large sum of interest. Everyone who watches their money will use tax-breaks and loopholes to retain or earn as much as possible. The instant assumption that this story implies something negative (Prince refusing to pay tax bills/cannot afford to pay/just plain lazy) just shows where other people's minds are at, I guess ----- Shows that a lot of people on P org are ignorant about wealth mgmt. The super rich spend vast amounts of time and resources getting out of paying taxes. I remember a story a few years ago about P fighting the property tax accessments on his properties in the state. For all we know he could still be figthing the taxes. In addtion, I am sure he has an account/business manager who handles the bills. i used to work for the top tax atty in minneapolis. he assisted a lot of huge local corporations in petitioning the local tax courts for reduction in their taxes. however, the state and county governments need to generate revenue. they no longer grant corporate petitions for reduction in taxes, as easily as they used to . . . even the top attorneys are failing in that quest these days. | |
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XxAxX said: laurarichardson said: ----- Shows that a lot of people on P org are ignorant about wealth mgmt. The super rich spend vast amounts of time and resources getting out of paying taxes. I remember a story a few years ago about P fighting the property tax accessments on his properties in the state. For all we know he could still be figthing the taxes. In addtion, I am sure he has an account/business manager who handles the bills. i used to work for the top tax atty in minneapolis. he assisted a lot of huge local corporations in petitioning the local tax courts for reduction in their taxes. however, the state and county governments need to generate revenue. they no longer grant corporate petitions for reduction in taxes, as easily as they used to . . . even the top attorneys are failing in that quest these days. -- I am sure with the economy being the way that it is the super rich are going to have a hard time weaseling out of paying their taxes. I am in no way condoning it but let's be honest if any of us had that kind of money we would do the same things that the super rich do to try and hold on to it. No one really likes paying taxes. | |
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laurarichardson said: XxAxX said: i used to work for the top tax atty in minneapolis. he assisted a lot of huge local corporations in petitioning the local tax courts for reduction in their taxes. however, the state and county governments need to generate revenue. they no longer grant corporate petitions for reduction in taxes, as easily as they used to . . . even the top attorneys are failing in that quest these days. -- I am sure with the economy being the way that it is the super rich are going to have a hard time weaseling out of paying their taxes. I am in no way condoning it but let's be honest if any of us had that kind of money we would do the same things that the super rich do to try and hold on to it. No one really likes paying taxes. the guy i am referring to is widely known for being the best, yet, his luck has run out, he recently lost a huge case regarding a local mall, and that petition for reduction in taxes actually backfired in that the state took a second look at the property and increased the mall's taxes. significantly. i think the time for that strategy has come and gone... hope prince files for an extension and works things out. it would suck if the IRS ended up in possession of the Vault  . | |
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XxAxX said: laurarichardson said: -- I am sure with the economy being the way that it is the super rich are going to have a hard time weaseling out of paying their taxes. I am in no way condoning it but let's be honest if any of us had that kind of money we would do the same things that the super rich do to try and hold on to it. No one really likes paying taxes. the guy i am referring to is widely known for being the best, yet, his luck has run out, he recently lost a huge case regarding a local mall, and that petition for reduction in taxes actually backfired in that the state took a second look at the property and increased the mall's taxes. significantly. i think the time for that strategy has come and gone... hope prince files for an extension and works things out. it would suck if the IRS ended up in possession of the Vault .----- I don't think anything like that is going to happen over 250k. He has been settling lawsuits so he knows the results of unpaid bills and long drawn out suits. | |
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laurarichardson said: XxAxX said: the guy i am referring to is widely known for being the best, yet, his luck has run out, he recently lost a huge case regarding a local mall, and that petition for reduction in taxes actually backfired in that the state took a second look at the property and increased the mall's taxes. significantly. i think the time for that strategy has come and gone... hope prince files for an extension and works things out. it would suck if the IRS ended up in possession of the Vault .----- I don't think anything like that is going to happen over 250k. He has been settling lawsuits so he knows the results of unpaid bills and long drawn out suits. poor prince. he really does need someone he can trust to help him handle his biz.. hope this works out for him. there are measures he can take to mitigate this situation | |
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laurarichardson said: HatrinaHaterwitz said: Head your informative self over to the Lotusflow3r forum and explain to the folks that changed their cc info on Prince's site and sent numerous requests to cancel their memberships, only to find this morning that they were STILL charged for a 2nd years subscription, how wealth management works for the super rich! ----- Perhaps you need to learn about wealth management so you and others don't get taken to the cleaners the next time around. Unlike you I did not join the website and managed to keep my $77.00 in my pocket. Read the disclaimer next time and go dispute the new charge on your credit card and stop wasting your time crying about it on this board. P is going to continue to make his money and you need to live and learn and move on. I didn't join! If you remember I was the one saying from the beginning that it was going to be a another ripoff and an automatically renewing one at that! It was people like you that were telling me to quit hating because I was just jealous because I must have been just too poor to join.
So like I said, go on over to the Lotusflow3r forum and explain wealth management and how it works for the super rich to the people that did get ripped off. I knew from the start that I loved you with all my heart. | |
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 ... I wonder when P pays his taxes will Star Tribune write a on-line article saying he paid it.Peace ... & Stay Funky ...
~* The only love there is, is the love "we" make *~ www.facebook.com/purplefunklover |
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HatrinaHaterwitz said: laurarichardson said: ----- Perhaps you need to learn about wealth management so you and others don't get taken to the cleaners the next time around. Unlike you I did not join the website and managed to keep my $77.00 in my pocket. Read the disclaimer next time and go dispute the new charge on your credit card and stop wasting your time crying about it on this board. P is going to continue to make his money and you need to live and learn and move on. I didn't join! If you remember I was the one saying from the beginning that it was going to be a another ripoff and an automatically renewing one at that! It was people like you that were telling me to quit hating because I was just jealous because I must have been just too poor to join.
So like I said, go on over to the Lotusflow3r forum and explain wealth management and how it works for the super rich to the people that did get ripped off. ----- Then if you did not join fucking relax. | |
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PurpleLove7 said: ... I wonder when P pays his taxes will Star Tribune write a on-line article saying he paid it.---- Of course not. Does good news sell newspapers? | |
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The story is an effort to sensationalize a boring no issue. How many others listed received the same letter and have yet to make payment. Where's their article devoted to them? They saw Prince's name and thought it was newsworthy. The bottom line is he got a letter 5 weeks ago and has yet to respond which when it comes to paying taxes is reasonable. Prince will continue to owes taxes in that county as long as he has businesses/properties there so it's hardly a new situation.
The orgers who make it out to be karma or anything other than run of the mill daily life are fishing for something that really isn't there. When your mother owed the IRS this year did you tell her she was a crap individual and getting what she deserved finally for not giving you everything you wanted in life? Get over it already. Memories die but taxes he'll still have 2 give When  go 2 a Prince concert or related event it's all  up in the house but when log onto this site and the miasma of bitchiness is completely overwhelming! | |
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laurarichardson said: HatrinaHaterwitz said: I didn't join! If you remember I was the one saying from the beginning that it was going to be a another ripoff and an automatically renewing one at that! It was people like you that were telling me to quit hating because I was just jealous because I must have been just too poor to join.
So like I said, go on over to the Lotusflow3r forum and explain wealth management and how it works for the super rich to the people that did get ripped off. ----- Then if you did not join fucking relax. I am relaxed. My money is safe and sound where it should be. However, I don't like to see people, especially ones that I consider friends, get taken advantage of by the wealth (mis)management of the super rich . I'm compassionate and empathetic that way! I knew from the start that I loved you with all my heart. | |
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HatrinaHaterwitz said: laurarichardson said: ----- Then if you did not join fucking relax. I am relaxed. My money is safe and sound where it should be. However, I don't like to see people, especially ones that I consider friends, get taken advantage of by the wealth (mis)management of the super rich . I'm compassionate and empathetic that way! Uh Oh. You trying to invoke the sociopath in her or what? 2010: Healing the Wounds of the Past.... http://prince.org/msg/8/325740 | |
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purplecorvette1 said: LONDON 3121 NITES.
lol iknw right Why does there have to be a soundcheck? I don't have a songcheck. You don't have a clothescheck. | |
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PurpleLove7 said: ... I wonder when P pays his taxes will Star Tribune write a on-line article saying he paid it."Person obeys law" -- Great headline.  | |
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Probably no headline when he obeys the law no 
but actually I preferred the newspaper headline "Prince told to rock his way down to the tax office" Come on Purple Music, rock your body now   "Free URself, B the best that U can B, 3rd Apartment from the Sun, nothing left to fear" Prince Rogers Nelson - Forever in my Life - | |
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Prince is in some deep shit right now plus he's losing his only support (fans) because of that Lotusfuck3r fiasco and Purple & Gold..  | |
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XxAxX said: laurarichardson said: -- I am sure with the economy being the way that it is the super rich are going to have a hard time weaseling out of paying their taxes. I am in no way condoning it but let's be honest if any of us had that kind of money we would do the same things that the super rich do to try and hold on to it. No one really likes paying taxes. the guy i am referring to is widely known for being the best, yet, his luck has run out, he recently lost a huge case regarding a local mall, and that petition for reduction in taxes actually backfired in that the state took a second look at the property and increased the mall's taxes. significantly. i think the time for that strategy has come and gone... hope prince files for an extension and works things out. it would suck if the IRS ended up in possession of the Vault .Actually, for the fans, that would probably be the best thing ever. The IRS, wanting $$$, would release the recordings. Either have Prince release the tracks himself with the IRS getting the lion share of the profit, or by letting the record labels bid on them, with Prince getting NO money from them. I gotta say that am no tax/legal expert by ANY MEANS but what I mentioned above just seems logical to me. Facebook, I haz it - https://www.facebook.com/Nikster1969
Yer booteh maeks meh moodeh Differing opinions do not equal "hate" | |
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zaza said: Prince is in some deep shit right now plus he's losing his only support (fans) because of that Lotusfuck3r fiasco and Purple & Gold..
i know ,right? never in all my life have my ears been so assaulted!(or is that insulted?) either would do. | |
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Genesia said: Do they write stories about everyone who's late paying their taxes?
 No, just high profile people like Prince. It is public info. | |
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muskiediver said: Genesia said: Do they write stories about everyone who's late paying their taxes?
No, just high profile people like Prince. It is public info. Well, duh. It was a rhetorical question. We don’t mourn artists because we knew them. We mourn them because they helped us know ourselves. | |
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Ah lookie whose on front cover of yahoo.com
Apparently Bono's having issues aswell This is so stupid in the first place, it's none of our businesses. "Not to sound cosmic, but I've made plans for the next 3,000 years," he says. "Before, it was only three days at a time." | |
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chookalana said: How can ANYONE think he's being picked on? I live in Carver County. $200,000 is a lot of money. If I have to pay taxes, so does he.
He's ripped off Fans, not payed his taxes. Prince does not care about ANYONE but Prince. I'm done supporting this S.O.B. YOU DON'T KNOW WHATS GOING ON WITH PRINCE AND HIS TAXES. JUST WHAT YOU'VE READ ON THE INTERNET. Prince has never "Ripped me off" sorry if you feel that way. The "Prince does'nt care about anyone but Prince" line was used in Purple Rain, weve heard it all before. As far as youre done with supporting Prince, GOOD! BYE! FARELYWELL.. One less B_TCHER and COMPLAINER around here. PEACE OUT! Prince did an interview with a woman at Record World. They talked about whatever, then he asked her: "Does your pubic hair go up to your navel?" At that moment, we thought maybe we shouldn't encourage him to do interviews. | |
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