Kares said:

rogifan said:

Kares said:

The Estate is bleeding money left and right because it's being mismanaged, because of the series of bad business decisions and because of the lack of a proper release plan that would bring in a healthy revenue stream – not because the heirs filed a few motions at the court.

What bad business decisions has Comerica made?

.

I wasn't only referring to Comerica but to Bremer too.
.
I'm sure some people will disagree with me but in my opinion there were a series of bad decisions. Just a few examples:
– allowing McMillan to sign the Universal-deal was an obvious one and I guess there's no debate about that. That was a massive blow for the Estate that is still costing them and will continue to cost them in lost revenue for many years. (And it is in no way even just comparable to the legal costs of motions filed by the heirs.)

– Signing the deal with Graceland and let PP Museum run by people who hardly know anything about Prince (and if you think that was only the beginning and things are professional now, unfortunately not. They still can't tell the difference between Prince's MadCat guitar and that Korean-made Cort TE Prinz that he never played. They still continue to spread a LOT of misinformation and they still don't care.)
– Moving the vault to Iron Mountain. Yes, the storage facilities at Paisley weren't professional and weren't big enough, so there was a genuine need for a new home. But I would've kept everything in Chanhassen, by building a secure vault prefably (but not necessarily) on the grounds of Paisley Park (under ground) – and as the work of archiving and transferring everything would've progressed, I would've kept a digital backup of it all at Iron Mountain, but not the originals. The originals should've became part of the Paisley Park Museum, even if only authorised personnel would've gained access to them.
– Letting Warners release Purple Rain Deluxe in sub-par quality
– Employing people like Troy Carter instead of someone with a deep knowledge and love of Prince's entire legacy.
– Not coming up with a professionally curated, extensive release program that would not only provide a healthy, constant revenue-stream for the Estate, but would also raise awareness about Prince's incredible body of work and would really elevate his status as one of the true great artists who ever lived. (I already have some detailed plans for such a release program and it wouldn't just be a series of releases, but a program that would connect with musical education of children so it would help utilising Prince's music in teaching too.)
etc, etc..

Kares said:

rogifan said:

What bad business decisions has Comerica made?

.

I wasn't only referring to Comerica but to Bremer too.
.
I'm sure some people will disagree with me but in my opinion there were a series of bad decisions. Just a few examples:
– allowing McMillan to sign the Universal-deal was an obvious one and I guess there's no debate about that. That was a massive blow for the Estate that is still costing them and will continue to cost them in lost revenue for many years. (And it is in no way even just comparable to the legal costs of motions filed by the heirs.)

– Signing the deal with Graceland and let PP Museum run by people who hardly know anything about Prince (and if you think that was only the beginning and things are professional now, unfortunately not. They still can't tell the difference between Prince's MadCat guitar and that Korean-made Cort TE Prinz that he never played. They still continue to spread a LOT of misinformation and they still don't care.)
– Moving the vault to Iron Mountain. Yes, the storage facilities at Paisley weren't professional and weren't big enough, so there was a genuine need for a new home. But I would've kept everything in Chanhassen, by building a secure vault prefably (but not necessarily) on the grounds of Paisley Park (under ground) – and as the work of archiving and transferring everything would've progressed, I would've kept a digital backup of it all at Iron Mountain, but not the originals. The originals should've became part of the Paisley Park Museum, even if only authorised personnel would've gained access to them.
– Letting Warners release Purple Rain Deluxe in sub-par quality
– Employing people like Troy Carter instead of someone with a deep knowledge and love of Prince's entire legacy.
– Not coming up with a professionally curated, extensive release program that would not only provide a healthy, constant revenue-stream for the Estate, but would also raise awareness about Prince's incredible body of work and would really elevate his status as one of the true great artists who ever lived. (I already have some detailed plans for such a release program and it wouldn't just be a series of releases, but a program that would connect with musical education of children so it would help utilising Prince's music in teaching too.)
etc, etc..

It doesnt matter who is running the Estate, P fans would NEVER be happy.

ISaidLifeIsJustAGame said:

Kares said:

.

I wasn't only referring to Comerica but to Bremer too.
.
I'm sure some people will disagree with me but in my opinion there were a series of bad decisions. Just a few examples:
– allowing McMillan to sign the Universal-deal was an obvious one and I guess there's no debate about that. That was a massive blow for the Estate that is still costing them and will continue to cost them in lost revenue for many years. (And it is in no way even just comparable to the legal costs of motions filed by the heirs.)

– Signing the deal with Graceland and let PP Museum run by people who hardly know anything about Prince (and if you think that was only the beginning and things are professional now, unfortunately not. They still can't tell the difference between Prince's MadCat guitar and that Korean-made Cort TE Prinz that he never played. They still continue to spread a LOT of misinformation and they still don't care.)
– Moving the vault to Iron Mountain. Yes, the storage facilities at Paisley weren't professional and weren't big enough, so there was a genuine need for a new home. But I would've kept everything in Chanhassen, by building a secure vault prefably (but not necessarily) on the grounds of Paisley Park (under ground) – and as the work of archiving and transferring everything would've progressed, I would've kept a digital backup of it all at Iron Mountain, but not the originals. The originals should've became part of the Paisley Park Museum, even if only authorised personnel would've gained access to them.
– Letting Warners release Purple Rain Deluxe in sub-par quality
– Employing people like Troy Carter instead of someone with a deep knowledge and love of Prince's entire legacy.
– Not coming up with a professionally curated, extensive release program that would not only provide a healthy, constant revenue-stream for the Estate, but would also raise awareness about Prince's incredible body of work and would really elevate his status as one of the true great artists who ever lived. (I already have some detailed plans for such a release program and it wouldn't just be a series of releases, but a program that would connect with musical education of children so it would help utilising Prince's music in teaching too.)
etc, etc..

It doesnt matter who is running the Estate, P fans would NEVER be happy.

.
I would be very happy to see his legacy handled with due respect and to see a long series of high quality releases – and to see his music sparking interest in children to pick up instruments and live their dreams.

ISaidLifeIsJustAGame said:

Kares said:

.

I wasn't only referring to Comerica but to Bremer too.
.
I'm sure some people will disagree with me but in my opinion there were a series of bad decisions. Just a few examples:
– allowing McMillan to sign the Universal-deal was an obvious one and I guess there's no debate about that. That was a massive blow for the Estate that is still costing them and will continue to cost them in lost revenue for many years. (And it is in no way even just comparable to the legal costs of motions filed by the heirs.)

– Signing the deal with Graceland and let PP Museum run by people who hardly know anything about Prince (and if you think that was only the beginning and things are professional now, unfortunately not. They still can't tell the difference between Prince's MadCat guitar and that Korean-made Cort TE Prinz that he never played. They still continue to spread a LOT of misinformation and they still don't care.)
– Moving the vault to Iron Mountain. Yes, the storage facilities at Paisley weren't professional and weren't big enough, so there was a genuine need for a new home. But I would've kept everything in Chanhassen, by building a secure vault prefably (but not necessarily) on the grounds of Paisley Park (under ground) – and as the work of archiving and transferring everything would've progressed, I would've kept a digital backup of it all at Iron Mountain, but not the originals. The originals should've became part of the Paisley Park Museum, even if only authorised personnel would've gained access to them.
– Letting Warners release Purple Rain Deluxe in sub-par quality
– Employing people like Troy Carter instead of someone with a deep knowledge and love of Prince's entire legacy.
– Not coming up with a professionally curated, extensive release program that would not only provide a healthy, constant revenue-stream for the Estate, but would also raise awareness about Prince's incredible body of work and would really elevate his status as one of the true great artists who ever lived. (I already have some detailed plans for such a release program and it wouldn't just be a series of releases, but a program that would connect with musical education of children so it would help utilising Prince's music in teaching too.)
etc, etc..

It doesnt matter who is running the Estate, P fans would NEVER be happy.

Some P fans that is, But Kares bring up some serious points!!!

ISaidLifeIsJustAGame said:

ISaidLifeIsJustAGame said:

ISaidLifeIsJustAGame said:

This shit is ridiculous. 31 million in taxes are owed, plus interest. 10 million paid to Comerica I guess in administrator fees. The judge won't give the heirs more control. It's bullshit to me.

margi said:

ISaidLifeIsJustAGame said:

Who said Tyka and her sons have Trusts??


What do you mean the LLC is not subject to state taxes???

What LLC??

The Estate documents show Prince had sole ownership to his corporations.

Yes! He did have sole ownership of his assets while alive. An LLC was established January 2014 to hold all the released and unreleased music, his names rights etc and the PR house. I am hoping the 167 acres he purchased near PP is also included and the income from his music goes to a music college as he planned. The Estate, being everything else, goes to the heirs nominated by the Court in lieu of a Will. Prince knew what the Court would do. He did what he wanted, he wanted protected his music and legacy in the LLC which nobody can dispute, no state taxes are attracted to an LLC ( I advise research for yourself) and as charities do not pay taxes, they would not be encumbered by the income taxes. He extended the copyrights to 120 years and therefore his music income will benefit his philanthropic projects. Do you honestly think he would leave his music in the hands of aging heirs. If the museum fails to finance itself, he knows the state or someone will buy it because of tourism to Minneapolis. He looked after Tyka and his two nephews as he always has.

There is a difference between corporations and a LLC.

Prince was the sole shareholder of Paisley Park Enterprises Inc., and NPG Records Inc.

Prince owned 99.9% of NPG Music Publishing LLC which is part of the Estate.

All these entities are owned and controlled by the Estate.


"..no state taxes are attracted to an LLC"

I am confused by this statement.

Do you mean estate taxes?

You didnt answer the question about Trusts for Tyka and her sons.

ISaidLifeIsJustAGame said:

It doesnt matter who is running the Estate, P fans would NEVER be happy.

Right you are

Kares said:

rogifan said:

Kares said: All she is is stirring the pot. And getting fans needlessly worried with all this bankruptcy talk. Especially when it’s partially because of her the estate is bleeding money.

.

The Estate is bleeding money left and right because it's being mismanaged, because of the series of bad business decisions and because of the lack of a proper release plan that would bring in a healthy revenue stream – not because the heirs filed a few motions at the court.

.

One of the major costs to the estate was caused by SNJ's advisors who made a bad deal that was soon the subject of more lawsuits. Then we have all the complaints filed against each other by the family. Then we have the family changing attorneys consistently. Then we have TAO going behind the administrator's backs to sell off the estate for profit (a pitch book and thousands of emails to potential investors). There's a lot more we don't know about.

Do you work for free? Why should attorneys and their staffs do pro bono work for a multi-million dollar estate?

The major mismanagement has been caused by the "family" WHO DID NOT EARN THIS MONEY. The smart thing to do would have been to band together, sit down, shut up, let the administrators smoothly manage things and pay the bills...and then when the taxes have all been paid, take it from there with decent advisors.

I'd rather, however, have Comerica manage the estate forever than turn it over to people who are hungry for their $$$$ and show their respect by sticking P's ashes in the vault.

rogifan said:

laytonian said:

The Galpin property was over $15 million by itself. The large plot across from Paisley is worth several million now. Plus, there were several homes and warehouses. The selling prices for those which have sold, haven't been disclosed.

The two plots across from PP show ownership as Love 4 One Another. As far as I know those haven’t been sold to anyone.

They're still part of the estate.
They are for sale; there's been a pitch to build a hotel there (a good idea) but nothing's happening.

Until the estate is settled, few will want to invest in supporting properties. The Egg will remain unfinished. No hotel. No mausoleum/columbarium on the grounds of PP.

williamb610 said:

This shit is ridiculous. 31 million in taxes are owed, plus interest. 10 million paid to Comerica I guess in administrator fees. The judge won't give the heirs more control. It's bullshit to me.

seems lawyers wnat to make as much possible BEFORE people come to their senses

margi said:

ISaidLifeIsJustAGame said:

Who said Tyka and her sons have Trusts??


What do you mean the LLC is not subject to state taxes???

What LLC??

The Estate documents show Prince had sole ownership to his corporations.

Yes! He did have sole ownership of his assets while alive. An LLC was established January 2014 to hold all the released and unreleased music, his names rights etc and the PR house. I am hoping the 167 acres he purchased near PP is also included and the income from his music goes to a music college as he planned. The Estate, being everything else, goes to the heirs nominated by the Court in lieu of a Will. Prince knew what the Court would do. He did what he wanted, he wanted protected his music and legacy in the LLC which nobody can dispute, no state taxes are attracted to an LLC ( I advise research for yourself) and as charities do not pay taxes, they would not be encumbered by the income taxes. He extended the copyrights to 120 years and therefore his music income will benefit his philanthropic projects. Do you honestly think he would leave his music in the hands of aging heirs. If the museum fails to finance itself, he knows the state or someone will buy it because of tourism to Minneapolis. He looked after Tyka and his two nephews as he always has.

Yep, it looks like everybody is taken care of. If you mean Londell McMuffin, and a few other parties. His family will likely fight over every penny untill the lawyers and accountants and other "interests" get paid, and maybe in the meantime, we might get some of the music. But fans age, and interest in this treasure trove left behind may just rot away, as the younger generation begs for more computer voices that all sound like the same singer.

Kares said:

rogifan said:

What bad business decisions has Comerica made?

– Moving the vault to Iron Mountain. Yes, the storage facilities at Paisley weren't professional and weren't big enough, so there was a genuine need for a new home. But I would've kept everything in Chanhassen, by building a secure vault prefably (but not necessarily) on the grounds of Paisley Park (under ground) – and as the work of archiving and transferring everything would've progressed, I would've kept a digital backup of it all at Iron Mountain, but not the originals. The originals should've became part of the Paisley Park Museum, even if only authorised personnel would've gained access to them.

Seriously, you believe that'd be a great business decision? To spend several million dollars building an underground vault (in an area with a high water table!) to do a temporary job of stabilizing and digitizing the vault contents?

The original tapes are too valuable and historic to return to the Paisley Park basement (itself a moisture suck).

There are things going on with the Estate but they are on to us and everything is so heavily redacted you cant figure what the eff is going on.

laytonian said:

Kares said:

– Moving the vault to Iron Mountain. Yes, the storage facilities at Paisley weren't professional and weren't big enough, so there was a genuine need for a new home. But I would've kept everything in Chanhassen, by building a secure vault prefably (but not necessarily) on the grounds of Paisley Park (under ground) – and as the work of archiving and transferring everything would've progressed, I would've kept a digital backup of it all at Iron Mountain, but not the originals. The originals should've became part of the Paisley Park Museum, even if only authorised personnel would've gained access to them.

Seriously, you believe that'd be a great business decision? To spend several million dollars building an underground vault (in an area with a high water table!) to do a temporary job of stabilizing and digitizing the vault contents?

The original tapes are too valuable and historic to return to the Paisley Park basement (itself a moisture suck).

.

Seriously, did you bother to read what I actually said? I said "preferably, but not necessarily" on the grounds of PP. I've no idea about the water levels in Chanhassen and I only mentioned "underground" IN CASE it would be on the PP property.
.
Also: I said "the originals should've became part of the Paisley Park Museum", NOT that they should be stored in Paisley Park's basement. They should become museum assets but that doesn't mean that they'd have to be stored in the building. There should be a purpose-built professional storage vault for them, and a few tapes (or even just empty boxes) could be on display inside PP.
.

Kares said:

laytonian said:

Seriously, you believe that'd be a great business decision? To spend several million dollars building an underground vault (in an area with a high water table!) to do a temporary job of stabilizing and digitizing the vault contents?

The original tapes are too valuable and historic to return to the Paisley Park basement (itself a moisture suck).

.

Seriously, did you bother to read what I actually said? I said "preferably, but not necessarily" on the grounds of PP. I've no idea about the water levels in Chanhassen and I only mentioned "underground" IN CASE it would be on the PP property.
.
Also: I said "the originals should've became part of the Paisley Park Museum", NOT that they should be stored in Paisley Park's basement. They should become museum assets but that doesn't mean that they'd have to be stored in the building. There should be a purpose-built professional storage vault for them, and a few tapes (or even just empty boxes) could be on display inside PP.
.

Of course I read what you wrote. You shouldn't have tried to explain it.

So underground "somewhere else" but not in a state with 11,000 lakes?
My God, people. Who doesn't know that the entire state of Minnesota is "wet".
WHY is that better than Iron Mountain, which IS a "purpose-built professional storage vault" Explain. You want a dedicated expensive facility? If that happens, it won't be until the estate is settled.

The originals are STILL property of the estate (which owns PP Museum) so that is not an issue, either.

laytonian said:

Kares said:

.

Seriously, did you bother to read what I actually said? I said "preferably, but not necessarily" on the grounds of PP. I've no idea about the water levels in Chanhassen and I only mentioned "underground" IN CASE it would be on the PP property.
.
Also: I said "the originals should've became part of the Paisley Park Museum", NOT that they should be stored in Paisley Park's basement. They should become museum assets but that doesn't mean that they'd have to be stored in the building. There should be a purpose-built professional storage vault for them, and a few tapes (or even just empty boxes) could be on display inside PP.
.

Of course I read what you wrote. You shouldn't have tried to explain it.

So underground "somewhere else" but not in a state with 11,000 lakes?
My God, people. Who doesn't know that the entire state of Minnesota is "wet".
WHY is that better than Iron Mountain, which IS a "purpose-built professional storage vault" Explain. You want a dedicated expensive facility? If that happens, it won't be until the estate is settled.

The originals are STILL property of the estate (which owns PP Museum) so that is not an issue, either.

.

Please read again.
I said "underground IN CASE it's on the land of PP". In other words: NOT underground if it's anywhere else in Chanhassen.
.
My God, people. Indeed...

I'm getting really close to deleting my account again, as I have done so several times in the past...

So the estate is now spending time and money on making sure that the color purple is associated with Prince: http://www.thefashionlaw....age-filing

.

BartVanHemelen said:

So the estate is now spending time and money on making sure that the color purple is associated with Prince: http://www.thefashionlaw....age-filing

.

WTF!?

Trademark a color?!

What about prior art in trademarks?

Mumio said:

Kares said:

.
Behave. She's his sister and she does have several very valid points.

All due respect Kares, but no she does not. She's ticked off because the judge called her and the others out for what they did in defiance of the court and he denied her motion to get Comerica booted because she doesn't have a good reason. Sharon is doing nothing but whining because she didn't get her way and is out there stirring up the fans and getting them angry and pissed off by feeding them misleading info via the media. What she isn't doing is letting everyone know that she, Norrine, and John are responsible for a goodly portion of all those bills and charges that she is complaining about what with the constant delays, motions, bickering, and attorney changes. Every bit of what I've said is there in the court docs, anyone can access and see almost all of it. I'm with Rogi, she needs to stop talking.

^^^^^^ THIS x 1000.

BartVanHemelen said:

So the estate is now spending time and money on making sure that the color purple is associated with Prince: http://www.thefashionlaw....age-filing

.

A very specific formulation of purple, not all tones and shades of the color.
It's an important issue for future marketing opportunities.

Nunya ever heard of Tiffany owning that specific shade of aqua?
UPS brown? Target red?
https://www.businessinsid...ked-2012-9

BartVanHemelen said:

So the estate is now spending time and money on making sure that the color purple is associated with Prince: http://www.thefashionlaw....age-filing

.

why didnt Prince do this when he was alive?? ridiculous use of time and money

BartVanHemelen said:

laytonian said:

BartVanHemelen said:

So the estate is now spending time and money on making sure that the color purple is associated with Prince: http://www.thefashionlaw....age-filing

.

A very specific formulation of purple, not all tones and shades of the color.
It's an important issue for future marketing opportunities.

Nunya ever heard of Tiffany owning that specific shade of aqua?
UPS brown? Target red?
https://www.businessinsid...ked-2012-9

.

The point is (as you've clearly missed it), it's an utterly stupid idea. Prince's music, his entire art and persona was about colours: the whole spectrum of colours. Using purple on everything by the Estate is ignorant, boring and it's degrading Prince's art. It is an amateurish and narrowminded way of branding.

Kares said:

laytonian said:

A very specific formulation of purple, not all tones and shades of the color.
It's an important issue for future marketing opportunities.

Nunya ever heard of Tiffany owning that specific shade of aqua?
UPS brown? Target red?
https://www.businessinsid...ked-2012-9

.

The point is (as you've clearly missed it), it's an utterly stupid idea. Prince's music, his entire art and persona was about colours: the whole spectrum of colours. Using purple on everything by the Estate is ignorant, boring and it's degrading Prince's art. It is an amateurish and narrowminded way of branding.

It's not stupid when you can use that trademarked color to call out all the bandits and thieves of intellectual property.

laytonian said:

laytonian said:

Kares said:

.

The point is (as you've clearly missed it), it's an utterly stupid idea. Prince's music, his entire art and persona was about colours: the whole spectrum of colours. Using purple on everything by the Estate is ignorant, boring and it's degrading Prince's art. It is an amateurish and narrowminded way of branding.

It's not stupid when you can use that trademarked color to call out all the bandits and thieves of intellectual property.

.

What the hell are you talking about?