Posted by:
dydimus
(
)
Date: March 11, 2015 02:35PM
Quinn stated that he was working on the book back in 2012; but also as quoted in the Bloomberg article "How Mormons Make their Money". --"Regarding management of the church's considerable investments, Quinn said "[s]everal high-ranking church insiders told him that the church's finances are so compartmentalized that no single person, not even the president, knows the entirety of its holdings".
http://www.bloomberg.com/bw/articles/2012-07-10/how-the-mormons-make-moneyI like a lot of Americans think of the corporation as a non-profit church who does own quite a few property holdings as in temples, churches, seminary buildings. I also knew about the cattle ranches, wood farms, fruit/vegetable farms. When I was TBM I assumed most of these were for Bishop Storehouse, church welfare.
Now we know that they own property and businesses in quite a few countries. These properties are just a tip of the ice berg. They're now asking members to give property and stocks in wills; so who knows what stocks they "inherited". Do they own stocks and bonds in cities/counties??? Do they own stock in TBM owned businesses? Mitt's, Southwest, Marriott, Osmond's?
All I can say is that the finances of TSCC are so diverse, shady and as pointed out so convoluted and large that not even the Great President/Grand Pubah / King of the World doesn't have any idea what they own or are invested in. So Quinn is probably getting spreadsheets, tax returns, audits together but the businesses are being sold off, split, etc... that it could change in a year so that somethings he could report on and print would become redundant and old news by the time the book was published. This would just give fodder to some Morgbots who would claim "lies, falsehoods, old news, etc..."
Things like owning the Mall is something that they can spin off as a "loss" because they bought and built it before the great property market/banking recession just a few years back (so much for prophecy, them paying almost twice the value for what the property is worth).
So let's give Quinn some slack, He may have to start out with history-- the Kirtland Bank scandals, the Nauvoo properties, ZCMI, Deseret books, Zion Bank, Children's Primary Hospital, United Order settlements that would sell their excess wheat and livestock for a profit (but these are co-ops not church owned, yet the profits would often be sent to SLC).
Edited 1 time(s). Last edit at 03/11/2015 02:39PM by dydimus.