expire-images:2008-11-6

Neverland Ranch is in Foreclosure

Filed under: Estates, Celebrity Shopping

We've been hearing rumors about this for a while but now it's official, Michael Jackson's Neverland Ranch is in foreclosure. The Implode-O-Meter has the November 5th, 2007 Foreclosure Detail Report for Santa Barbara county which shows that as of October 12, the King of Pop owes $23,212,963 on a $23,000,000 loan. Since his trial, Jackson has spent almost no time at the home, instead staying in hotels and rented homes around the world. It's unclear whether he can't pay the bill at this time, or just won't.

Jackson isn't the first celeb to face foreclosure, it's happened to Whitney Houston, Michael Madsen, Don Johnson and Courtney Love. This, however, is far and away the largest debt we've seen.

Gallery: Celebrity Foreclosures

Jeana Keough from the Real Housewives of Orange County

[via TMZ]

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Tags: expire-images:2008-11-6, foreclosure, michael jackson, MichaelJackson, neverland ranch

Paul Newman Enters The Wine Business

by Deidre Woollard (RSS feed) —

Filed under: Wine, Celebrity Shopping, Charity

Following in the footsteps of Martha Stewart, Paul Newman becomes the latest celeb with a wine label. Newman's Own 2006 California Chardonnay and 2006 California Cabernet Sauvignon will be released next March. In the press release, Paul Newman notes that he originally bottles his first product, his salad dressing in old wine bottles with parchment labels, so the brand is coming full circle. Since that beginning 25 years ago Newman's Own has grown into a major brand offering pasta sauce, lemonade, salsa and more. Money generated from the products has allowed the Newman's Own Foundation to donate more than 200 million dollars to thousands of charities.

Newman worked with Rebel Wine Company, which also makes True Earth organic wine which we have previously profiled. The Newman wines are made from grapes sourced from coastal vineyards and are expected to sell for $16. An article in AdAge mirrors a question I had which is whether $16 is too high a price for wine's that have a celebrity name but not a lot of celebrity input. The True Earth wines sells for around $13 and Martha Stewart's wine is expected to sell for around $15. Newman's products generally seem to be a little pricer than others and consumers have been willing to pay a little more knowing that it goes to a good cause. Wine lovers, however, tend to purchase based on a complex variety of factors (including terroir and the recommendations of wine bloggers and critics) and might be a tougher nut to crack as they expect a lot from a bottle that veers toward the $20 bottle range.

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Tags: cabernet sauvignon, california wine, celebrity wine, chardonnay, expire-images:2008-11-6, paul newman, PaulNewman, wine