The Backstreet Boys are coming to NYC, performing live at the Supreme Court of New York County. The still-wishing-they-were-pubescent outfit claims boy band impresario Lou Pearlman and Trans Continental Records (TCR) still owe around $4mm to cover subsequent career mistakes of individual group members. The group maybe should have realized they were getting a bum deal when they paid Lou over $29mm in 2000 to be freed from future contractual obligations in the first place. The current suit was originally filed in Florida but has since moved to New York because of the humidity.
Unfortunately, Lou Pearlman and TCR are bankrupt, and Lou has some legal troubles of his own after conducting one of the most lucrative (documented) Ponzi schemes ever. Pearlman used his Trans Continential Airlines aircraft leasing company as a front to set up a falsely FDIC certified savings program that promised a 6-8% return. Now, everyone is suing the hyper-extended LP (including a NYC dentist, and 1,800 others), and his assets are in liquidation (including his Rolls, with a steering column that gave Justin Timberlake just enough head room). He's since left the country and no one can find the guy (authorities thought he was here until the last minute).
People (admit it) apparently bought 86,000 Backstreet Boy albums last year.
Backstreet Boys still got it goin' on [TampaBay.com]
Posted by vespa , May 21, 2007 3:40PM
wow do i feel like 2 minutes were just stolen from my life after reading that.
but it did make me think of this - how about more frequent posts of executives on the run. i mean there are a descent number of them out there- and it's always interesting hearing where they go. i mean kobi alexander could fill the void on his own - but there are more - so maybe you could cut BSB out of the picture and post a series of executives on the run. just an idea
Posted by BSD , May 21, 2007 3:48PM
Second that - awesome idea. I can see a nice Where's Waldo style photoshop opportunity for you graphics guy too...
Posted by , May 21, 2007 4:01PM
huh?
Posted by Yes Man , May 21, 2007 4:12PM
Anon4:01, it's ideas like that which elevated BSD to BSD status.
I like it! The graphics guy could photoshop little tiny CEOs into large crowd scenes. Or in the case of Kobi Alexander, into a shot from a World Vision commercial.
Posted by , May 21, 2007 6:30PM
Lou Pearlman can be found. He is in Germany with his group US5.
Posted by msc , May 21, 2007 8:40PM
Pearlman WAS allowed to flee. The state of Florida insured it. Now the fix is in apparantly, hope against hope he is not found since the Governor and many others are hopelessly compromised, everyone knows it. Rarely such a cruel scheme has ever been made worse by the incompetance of authorities.
Posted by andy , May 23, 2007 5:29PM
if that guy could only disappear,it would be such a plessure.BACKSTREET BOYS 4EVER!!!!!!!!
Posted by Anna , Jun 03, 2007 4:11AM
Lou better flee for his life and go hide under a rock, take that back... a monolith (anybody who has seen a picture of him can insert a snicker here). He's already screwed up everything up enough, and anybody in the music industry now knows that every group he's "created" hates him and either has sued him or is suing him and has said goodbye. No, I don't think the snake could've eaten him. lol Maybe if Lou worked his ass off and actually got on that stage and put in some HARD WORK for once like everyone else he's screwed over or scammed, then maybe he could've lost enough weight off of his fat ass to be swallowed by a snake, but no, alas, no, he sits on his lazy ass and tries to scam as many people as he can. Good (BAD) Bye Lou! Good Riddance! Go die of a heart attack, you know you're one waiting to happen!
Posted by michelle mckee , Jun 11, 2007 12:11PM
I want the Backstreet Boys to stay forever, PERIOD! Lou Pearlman should have been fired, shot and then brought back to do it again. The BSB IS STILL THE BEST BAND EVER. I LOVE THEM AND I'M SORRY I NEVER REALIZED THAT SOONER. SO NOW I CAN NEVER SEE THEM IN CONCERT OR MEET THEM. THEY RULE AND THEIR MUSIC IS POSITIVE. NOT LIKE THE CRAP THAT IS OUT THERE NOW! THE BSB RULE!!!!!!!!!!!!! I LOVE BSB NOW AND FOREVER! ROCK ON GUYS! ANYONE ELSE WHO HAS A PROBLEM WITH BSB SHOULD JUST SHUT-UP!