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Date: October 17, 2011 07:16PM
The cattle ranching does not go to store houses for the needy. Here are some old news stories about Nebraska that tell quite a bit.
http://journalstar.com/news/state-and-regional/article_5de7826d-51cb-5b5a-a166-d2b3d38fd1cc.htmlThe church paid nearly $16 million in cash.
The Mormon vice president of livestock operations said: "We run cattle ranches. We are the largest cow-calf operator in the nation."
"The church, operating under the name Farmland Reserve Inc., manages its ranches to produce a return on its investment. Those returns help support global spiritual missions."
"the church's nonprofit status earns it an exemption from the state ban on corporate farming/ranching."
"It's hard for local folks to outbid an outside investor who has unlimited money"
"In fact, the church always pays cash, Lamoreaux said, eschewing loans and debt."
http://www.deseretnews.com/article/1,5143,595096557,00.html"The LDS Church has become one of Nebraska's largest landowners"
"We're in business for profit, and of course the profits go to the church"
"Still, the Mormon church — which is exempt from a state ban on corporate farms and ranches because of its nonprofit status — is now a major player among Nebraska landowners."
"John Hansen, president of the Nebraska Farmers Union, said deep-pocket out-of-state interests put smaller landowners — who need to borrow money to buy land — at a disadvantage."
"Smaller ranches are not able to make as much of a profit while paying off debt. That leads to some ranches being consolidated and ultimately the disappearance of rural communities, Hansen said."