try this
[Embed(source="the picture.jpg")]
private var materialClass:Class;
private var materialMaterial:BitmapMaterial;
public function World()
{
scene = new Scene3D();
// create a basic camera
//cam = new Camera3D();
cam = new Camera3D({zoom:5, focus:100,z:300,y:
300});
//view = new View3D({camera:cam,x:250,y:200});
view = new View3D({camera:cam, scene:scene});
view.x = 400;
view.y = 300;
addChild(view);
materialMaterial = new BitmapMaterial(Cast.bitmap
(materialClass),{smooth:true, precision:1});
fighter = new Object3DLoader(Max3DS.load
("f360.3ds",
{ material:materialMaterial, name:"fighter",
scaling:50, y:0, x:0, z:0,
rotationX:-90, loadersize:300}));