The story behind how the land came up for sale is more interesting. A farmer from Nampa started ranching and farming in the eastern WA area in the 1950s and grew the operation to 18,000 acres,
The grandsons lost $200 million in commodity speculation and is being sued for defrauding Tyson Foods, which drove them into bankruptcy.
Fraud and Nampa makes me wonder if there isn’t a Mormon connection for the now former owners.
Oh, and this purchase puts LDS Inc land holdings in WA and OR at over 100,000 acres. That’s roughly the size of the entire east bench of Salt Lake County.
Seems the most valuable think about this land is substantial Columbia River water rights.
Edited 1 time(s). Last edit at 06/24/2021 10:29AM by Brother Of Jerry.
People in general do not appreciate how many millions or billions the LDS church makes/has made in water rights. Remember, for instance, that the Mormon church owns all the water that serves North Las Vegas. The senior owners of water rights in Utah and neighboring areas, and that's the Mormon church, the original owner of all regional water rights. They see nothing wrong with playing hardball with state residents' water. Just good business. Otherwise, it's still a mystery what Jesus thinks he will do with all that cold cash.
“The Church of Jesus Christ of Latter Day Saints has also been suffused with positive agrarian values from its inception. Man’s duty… is to strive for independence, which means, among other things, that he is to be self-sustaining; a powerful impetus for subsistence agriculture.”
So how long will these subsistence farmers take to pay back the $210 million?
Edited 1 time(s). Last edit at 06/24/2021 11:32PM by babyloncansuckit.
summer Wrote: ------------------------------------------------------- > Yet another large block of valuable agricultural > land falls to corporate farming. > > Overall, the Mormon "church" owns at least twice > as much agricultural land as Bill Gates does.
They can't do this in North DAkota. Farms and ranches have to be owned by a living North Dakota resident. No Corporate ownership other than closely held Family Corporations - who are actual North Dakota residents.
I just had an interesting thought. We know LDS Inc hates transparency, and now they have to file quarterly publicly available reports on the Ensign Peak stock portfolio that is worth $100B.
I wouldn’t be surprised if they move as much of their money as they can out of publicly traded companies (stocks) and into land, which I don’t think has the same requirement of public disclosure of holdings, or quarterly reporting of value.