Five Ways Michael Jackson Could Save California's Economy

From Minyanville:

It's not likely that Michael Jackson's estate will be settled any time soon. Given conflicts among his family, his lawyers, and children of unclear parentage, Jackson's property should finally be divvied up around the time Off the Wall enters the public domain.

But as those closest to Jackson attempt to sift through red tape almost as lasting as his fame, the pop star's death has sent ripples through Hollywood's ailing economy and has given it a much needed boost -- no matter how morbid or undignified.

Rather than a time of mourning and reverence, event planners are pushing for happiness and celebration: They're organizing events at which consumers might not mind dishing out $9 for a bottle of water emblazoned with a glittery glove -- where $50 to have your picture taken next to a cardboard cutout of MJ will seem like a good deal. You know -- the sort of magical moments when a huge crowd remembers a person's life by wanting to buy a part of it....

...3. The bottom liners at Merlin Entertainments Group (BX) must be cooling off after sweating over the £1 billion purchase and renovation of Madame Tussaud's wax museum in March 2007. Set to open in 3 weeks, it's only a few days shy of perfect timing. Tourists may not have plunked down admission fees for a Mork sculpture, but a hastily-assembled mannequin of Michael Jackson would likely draw a hoard of visitors.

While news outlets are enjoying huge numbers for their Jackson coverage, they'll have an explosion come Tuesday.

4. Local news outfit KTLA -- an affiliate of CBS (CBS) and Time Warner (TWX) -- is rumored to interrupt regular broadcasting to cover the event. TMZ -- who originally scooped his death -- will have a clean sweep of the mysterious performers who will be on stage. Even Anderson Cooper of CNN has been covering the ongoing Jackson saga with the Hollywood sign over his shoulder, drawing much attention toward Tinsel Town....MORE