The Grammys Are Concerned Toni Braxton's Awards Will Be Auctioned

Toni Braxton
The National Academy of Recording Arts and Sciences (NARAS), which is the organization that awards singer with Grammys, has made an appearance in singer Toni Braxton's bankruptcy case, out of concern the six awards she has won during her 20-year music career could be seized and auctioned, to satisfy her many debts.
Braxton fell seriously ill with breast cancer, lupus and angina, which made her unable to work for a time. As a result, Braxton fell behind on credit card payments to high end retailers and other financial obligations. Due to the fact she did not disclose the full extent of her health problems, the insurer that underwrote her Las Vegas performance policy, did not pay the $10,000,000 guarantee in the event her stage run abruptly ended.
Braxton's financial woes grabbed unflattering headlines last year, when she filed for bankruptcy, the second time in a decade, prompting claims she is a spendthrift not in charge of her financial affairs. Braxton's latest Chapter 7 bankruptcy filing, already saw her reluctantly relinquish her million dollar mansion in Atlanta, Georgia's Sugarloaf Country Club. The legal documents also list her Grammy awards among her possessions.
It's all good and fine that they made an appearance in the case, in an attempt to protect their brand. However, the Grammys are a complete farce now, when a screamer singer like Beyonce Knowles, among others, can criminally commit wholesale theft of valuable copyrights worth many millions and win more Grammy awards than Aretha Franklin, in one fifth the time. It says the organization's credibility is gone.
You are giving out Grammys like candy to people that did not earn them, which has taken the prestige and heft from your awards. I also have it on good authority, though you do not want the Grammy awards sold to non-recipients, the voting process can be bought to rig a desired outcome on behalf of artists that did not earn it. The aforementioned two problems, which will mushroom into a forthcoming scandal, when specific details are brought to light before the public, are the real issues the Grammys need to be focused on.

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Will Reality Show Clear Up Toni Braxton's Debts And Financial Troubles

Toni Braxton
In 2010, Grammy Award winning singer, Toni Braxton, filed for bankruptcy - the second time in a decade. In 2010, Braxton lost her $2,400,000 Las Vegas home to foreclosure. She also gave up her primary residence, a 7 bedroom, 7 bathroom, $1,500,000 Duluth mansion, set in the Sugarloaf Country Club.
Braxton initially fought to keep the attractive, sprawling home. However, her creditors forced foreclosure, but due to the property having negative equity, Braxton was advised not to challenge it. She ended up surrendering the property, in what had to be a very difficult blow.

Braxton's former home in Duluth, lost to foreclosure
In the 1990s, LaFace Records, gave Braxton a reported settlement of $20,000,000 as apart of a renegotiation fee on her recording contract, after the bad publicity from her first bankruptcy. Label mates, TLC, were reportedly given the same, as they too had filed bankruptcy.

Braxton's former home in Las Vegas, gone to foreclosure
In 2006, Braxton signed a lucrative Las Vegas performance deal with the Flamingo hotel, but fell ill a year and a half into the multi-million dollar run. This is where her troubles began, as she'd taken on new debts and insurers refused to pay when she became ill, stating she hid her medical condition from them, which is a violation of the performer's policy. Braxton is battling lupus, angina and breast cancer.

Braxton's Las Vegas show was cancelled due to illness
It is regrettable that Braxton did not buy a home outright, when she had cash surpluses, rather than obtaining mortgages, as she would not have lost her main residence, which was clearly distressing. She is also older now, 43, with her health problems impacting her appearance. There also exists a pathetic ageism in the vain entertainment industry.

Braxton Family Values
However, with the success of her reality show "Braxton Family Values" that has brought in a moderate amount of money, with residuals and DVD sales to come, will Braxton get back in the black. That depends. Her 2010 bankruptcy filing was filed with debts to luxury retailers and establishments, such as Tiffany's, BMW, Neiman Marcus and the Four Seasons.
Braxton's spending would have to drastically change, in order to rebuild her finances from the ground up and maintain a solid financial profile. Her health is also a factor, which should indicate to her to save up for a rainy day.
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Source URL: https://crystal-harris-sum.blogspot.com/search/label/bankruptcy
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Another Sony Hack Claims The Personal And Financial Data Of 25 Million More People

Clouds are forming over Sony
Just when you thought the Sony hacking story couldn't get any worse, it does and embarrassingly so. Last week, hackers pulled off a major computer intrusion into Sony's systems that not only knocked the PlayStation Network off the internet like it was never there in the first place, it claimed the personal and financial data of 77 million users, with estimated damages of $24 billion dollars to the company.
2,200,000 of those credit card numbers have already been offered for sale on underground hacker websites. This week it was announced, another Sony site was hacked, with the personal and financial data of 25,000,000 people being stolen. These hacks could force Sony into bankruptcy.
Based on reports, Sony's executives in New York have been subpoenaed into the U.S. Congress, but are arrogantly refusing to testify. Sony CEO, Howard Stringer, needs to get his crazy butt in there and explain himself.

Howard Stringer
Hackers are attributing the incidents to the arrogance of the company's executives in New York. As someone that has been robbed and abused by Sony, via their corrupt and immoral executives ensconced in that nuthouse they call headquarters, I can emphatically state, they are a weird and sick bunch of people whose minds are on another planet.
While I had nothing to do with the hacks, as I like staying on the right side of the law, I'm only sorry for Sony customers, not the company. After all, Sony, in tandem with Madonna, who share the same lawyer (the lawbreaking Manatt law firm), engaged in criminal conduct against me that saw hackers on the staff of Madonna.com hack my business computers, illegally copy preexisting, unreleased copyrights music and scripts, among other things, then under the complicity of the dishonorable FBI, illegally released them as their own, collecting a fortune in payment, credit and awards for it.
Sony, like Jesus says in the Bible, "You reap what you sow." What goes around comes around. Now that it has happened back to you, via hackers breaking into your computers, stealing their contents and costing you a fortune, you know, like you did to me, it isn't so funny and amusing, now is it.
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STORY SOURCE
Don't Blame Engineers for PSN Breach, Blame Sony Execs, Says PS3 Hacker
04/28/2011 - It was Sony's lawsuit against George Hotz that prompted hacker group Anonymous to wage war on Sony earlier this month. Anonymous might very well not have anything to do with the theft of PSN users' personal information -- it denies any involvement -- but Sony's litigiousness may have been what prompted the infiltration by hackers. If you thought there was any chance Hotz was somehow involved, think again....
"The fault lies with the (Sony) executives who declared a war on hackers, laughed at the idea of people penetrating the fortress that once was Sony, whined incessantly about piracy, and kept hiring more lawyers when they really needed to hire good security experts. Alienating the hacker community is not a good idea."
Hotz went on to speculate about how PSN was infiltrated and Sony's shortcomings (according to his theory) as compared with other companies. "Notice it's only PSN that gave away all your personal data, not Xbox Live when the 360 was hacked, not iTunes when the iPhone was jailbroken, and not GMail when Android was rooted," he noted. "Because other companies aren't crazy."
http://www.1up.com
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Toni Braxton Fails To Refute Spendthrift Claims

Toni Braxton
Bankrupt singer, Toni Braxton, who stars in the reality show "Braxton Family Values" tried but failed to dispute claims she is a spendthrift, in a recent interview with Black Enterprise magazine. Ironically, she contradicted herself, while trying to prove to the public she does not overspend.
Braxton stated to the decades old publication, "People were reporting things like I bought Gucci flatware. Yes, I treated myself, and it was only $500. If I bought 1000 count sheets, they were from TJ Maxx for about $49, so I wasn’t living extravagantly."

"Braxton Family Values" cast covers Kontrol magazine
However, she contradicted herself that same week, via a separate interview she gave HDNet, where Braxton stated, "I live well. But instead of having three houses like I had, it’s just not like that anymore." That's overspending, as no one needs three homes. That's a luxury, not a necessity.
Once again, one moment she states she shops at bargain store TJ Maxx, but in the next breath she reveals she had three homes. Her bankruptcy filing further reveals, she ran up massive debts at the Four Seasons, Neiman Marcus and Tiffanys, three high end luxury establishments.

"Braxton Family Values" publicity shot
Years ago, former Laface labelmate, Usher (Raymond), threw Braxton under the bus in an interview, where he stated of her, if you make one hundred dollars you don’t spend ninety-nine. He too indicated the root of her financial problems were due to overspending.
Hey, it’s Braxton’s money. She can spend it how she chooses. No one is trying to tell her how to conduct her financial affairs. But when one is a big spender, then files for bankruptcy twice, one cannot expect to be exempt from public criticism.
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Source URL: https://crystal-harris-sum.blogspot.com/search/label/bankruptcy
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