Michael Jackson's Costly Memorial

Expenses for the Michael Jackson Memorial to Strain City's Finances

(CBS)  A city that's half a billion dollars in debt will take any help it can get. And yes, the run-up to the massive Michael Jackson memorial service is producing, but it's also costing as CBS News national correspondent Jeff Glor reports.

At Jimmy Jam's in Los Angeles they've gone from one machine making t-shirts, to six. They've sold 4,800 mementos sold since Michael Jackson died.

"As soon as he passed, they was blowing my phone up, they was blowing it up. And I said, ah, you got to do it," said Jimmy Jam.

One block from the Staples Center, the hotel that's typically 60 percent full during this recession, has no vacancies.

The city's visitors bureau says the massive Jackson memorial could generate $4-5 million in economic activity - partially from foreign visitors like the Quinns from Ireland, spending $6,000.

"He was a bit of a help, the old credit card," said Veronica Quinn.

But that does nothing to diminish the cost of city services.

Acting mayor Jan Perry says hundreds of police are needed, plus money for sanitation, barricades, and planning.

The final bill? At least $2 million.

"I would love for somebody to pick up the entire tab - that would be great," said Perry.

At the recent LA Lakers victory parade, private stepped up at the last minute to foot that bill. In this case, the city is still waiting.

[connita2]

The city should pick up the tab. They will receive a lot $$$ from all the fans from this day on and future invesments for MJ.

[Sloughfoot]

Ah, the Greatest Show on Earth is in town for it's final act (crap there will probably be a sequel) and the City can't find a way to make a dime, hmph, no wonder LA in in financial trouble.

[aChangeOfIdeas]

The family had, and paid for, their own memorial service. Why should the family pay for this one? Why should it be taken out of his estate (and thus, away from his kids)? The person who pays for the party is the one who PLANNED the party (and that's what this is turning into) and it seems that the city of LA planned this whole event so they should pay for it. Pity on the taxpayers that they've elected officials who would do this. Perhaps they should have sold the tickets just like the people who got them are doing.

[Newster1]

The final bill? At least $2 million.

"I would love for somebody to pick up the entire tab - that would be great," said Perry.

IDEA: send the multi billion dollar Jackson estate executor the final bill, $2 million is adrop in the bucket for the estate

[space35]

I can't believe there should be any question about who pays for MJ memorial. The family should pay for it if they want one or better yet how about the media paying for it. They are beating this event to death on the news, news magazines, talk shows, entertainment shows.
The media is the ones profiting from this event so they should come up with it if the family can't cover it. I am so tired of every day, every network, every time I turn on the news its MJ this, MJ that. Enough is enough.

[lch100]

The city expenses for this public tribute concert (it is not funeral) should be picked up by his estate. Period. The city supports funerals, but his funeral is private.