Sifting through Lou Pearlman's rubble - Posted by Michael Fomkin

The rest of Lou Pearlman's Orlando empire may be in shambles, but the show will go on for wannabe singers, dancers, actors and models.
 
Pearlman's Talent Rock business has new owners, who plan to keep sponsoring talent expos that give aspiring young artists a chance to learn about show business, compete for trophies and meet agents who can help with their careers.
 
The transaction won't do much for investors who are out $317-million in what state officials say was a huge Ponzi scheme that supported Pearlman's businesses and his lavish lifestyle.
 
However, Friday's court-approved sale does help several hundred people who put down deposits on Talent Rock events and probably would have lost their money otherwise.
 
A cruise planned for this summer has been canceled, but owners of the new Talent Rock Holdings said they will apply deposits toward a December program at Walt Disney World or another event.
 
Camino Ventures paid $175,000 for Talent Rock, the primary asset of a Pearlman company known as Fashion Rock that is now in receivership along with a dozen other Pearlman entities.
 
Most of the money - $125,000 - will go to Bank of America, which had a $1.5-million lien on Talent Rock equipment. The rest will go to cover bills for the receivership.