Church to buy bankrupt company's investment portfolio for $30 million

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Col. Flagg
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Location: Utah County

Church to buy bankrupt company's investment portfolio for $30 million

Post by Col. Flagg »

Our Savior hard at work...

https://www.wsj.com/articles/mormon-inv ... 1557335448

Good grief - the church tells Zimbabwe's VP we are not a rich people to help them construct clean water wells while it has $32 billion in the stock market, buys up a London high rise office building for $129 million and now this. Unbelievable.

Aprhys
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Re: Church to buy bankrupt company's investment portfolio for $30 million

Post by Aprhys »

Just one more reason why my 10% goes to an actual charity. Just one more reason why I have absolutely no qualms about doing so.

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JK4Woods
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Re: Church to buy bankrupt company's investment portfolio for $30 million

Post by JK4Woods »

Aprhys wrote: May 13th, 2019, 5:37 pm Just one more reason why my 10% goes to an actual charity. Just one more reason why I have absolutely no qualms about doing so.
I had a testimony of tithing way before I joined TCOJCOLDS. I had read a little book by (or about) Rockefeller paying tithing and commenting that the generosity paid back many times over.

I was supporting an orphan school kid in Thailand at $30/ month thru the Christian Children’s Fund. Supote Bon Lao was his name. I was 20 in the Army stationed in Korea. I supported him for several years. Then I joined the church and a couple of months later was told that tithing to the church was all that was required. (I had been supporting both during this time, on a PFC’s meager wage).

Anyway, I know the Lord blesses one in many manners when paying tithing to any worthwhile organization.

thestock
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Posts: 1282

Re: Church to buy bankrupt company's investment portfolio for $30 million

Post by thestock »

Ah Life Insurance Policies. Didnt the Church just shut down Beneficial Life? I guess they were wanting to get back in. Profiting from death.....I guess it beats buying JP Morgan stock.....

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Robin Hood
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Re: Church to buy bankrupt company's investment portfolio for $30 million

Post by Robin Hood »

thestock wrote: May 14th, 2019, 2:17 pm Ah Life Insurance Policies. Didnt the Church just shut down Beneficial Life? I guess they were wanting to get back in. Profiting from death.....I guess it beats buying JP Morgan stock.....
Owning/issuing life insurance policies is not profiting from death. Death results in a pay-out. Profits are made when people live long. So actually, it's profiting from extended life.

thestock
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Re: Church to buy bankrupt company's investment portfolio for $30 million

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Robin Hood wrote: May 14th, 2019, 3:13 pm
thestock wrote: May 14th, 2019, 2:17 pm Ah Life Insurance Policies. Didnt the Church just shut down Beneficial Life? I guess they were wanting to get back in. Profiting from death.....I guess it beats buying JP Morgan stock.....
Owning/issuing life insurance policies is not profiting from death. Death results in a pay-out. Profits are made when people live long. So actually, it's profiting from extended life.
Most secondary market investors in life insurance policies pay pennies on the dollar for them and receive the proceeds upon death of the insured. It’s a way for me to sell you my life insurance policy for a haircut if I want the money now and no longer need Coverage.

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shadow
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Re: Church to buy bankrupt company's investment portfolio for $30 million

Post by shadow »

Col. Flagg wrote: May 13th, 2019, 4:38 pm

Good grief - the church tells Zimbabwe's VP we are not a rich people to help them construct clean water wells
Yep, it's similar to a charity telling Kim Jong Un that they don't have money to give him for his "charitable activities". You really don't think these 3rd world country leaders aren't going to pocket the majority of funds they're given??
However, as a church, we already help with the water situation in Zimbabwe and in many other countries.

If you could buy a chunk of land for $100 (the amount doesn't matter) with a pretty good understanding that it would produce jobs for people and also provide a return on your money would you not buy it?

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captainfearnot
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Re: Church to buy bankrupt company's investment portfolio for $30 million

Post by captainfearnot »

Robin Hood wrote: May 14th, 2019, 3:13 pm Owning/issuing life insurance policies is not profiting from death. Death results in a pay-out. Profits are made when people live long. So actually, it's profiting from extended life.
Right. It's the annuities (sold by the same life insurance companies) that profit from death.

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abijah
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Re: Church to buy bankrupt company's investment portfolio for $30 million

Post by abijah »

I think Col Flaggs idea of the Last Judgement is nothing more than an audit of finances. Clearly all righteousness & wickedness come back to how much money you throw at the poor - whom we will have always, until Zion is established.

I can hardly think of a bigger waste of the Lord’s money than giving it to the government of Zimbabwe. We are commanded to take what we are given and produce more. Not throwing it into bottomless pits.

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Col. Flagg
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Re: Church to buy bankrupt company's investment portfolio for $30 million

Post by Col. Flagg »

abijah wrote: May 14th, 2019, 5:00 pm I think Col Flaggs idea of the Last Judgement is nothing more than an audit of finances. Clearly all righteousness & wickedness come back to how much money you throw at the poor - whom we will have always, until Zion is established.

I can hardly think of a bigger waste of the Lord’s money than giving it to the government of Zimbabwe. We are commanded to take what we are given and produce more. Not throwing it into bottomless pits.
Some of you simply do not get it. If it doesn't bother you that Neil Andersen goes over there and tells their VP we are not a rich people and thus downplays the church's capacity to help construct/develop clean water wells for people while $32 billion in church funds sits in the stock market as we build multi-billion malls, million dollar condos, buy up 3% of the land mass of Florida or drop hundreds of millions or billions into commercial real estate for profit that has nothing to do with building the kingdom of God, then I don't know what to say? :lol:

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BKColt
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Re: Church to buy bankrupt company's investment portfolio for $30 million

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Isn't it only 2% of Florida?

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abijah
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Posts: 2577

Re: Church to buy bankrupt company's investment portfolio for $30 m

Post by abijah »

Col. Flagg wrote: May 15th, 2019, 11:08 pm Some of you simply do not get it. If it doesn't bother you that Neil Andersen goes over there and tells their VP we are not a rich people and thus downplays the church's capacity to help construct/develop clean water wells for people while $32 billion in church funds sits in the stock market as we build multi-billion malls, million dollar condos, buy up 3% of the land mass of Florida or drop hundreds of millions or billions into commercial real estate for profit that has nothing to do with building the kingdom of God, then I don't know what to say? :lol:
None of this bothers me in the least. Isaiah has even prophesied that God’s chosen will receive the riches of the gentiles, and for good purpose. When the Israelites were despoiling Egypt I can picture Col Flagg telling them what sinners they are.

We are not rich in the scope of fixing world problems. We have little enough to establish Zion, the greatest civilization ever to be built. And we need more. Hence the investments. And maybe you don’t know that returns come after investments.

I think in the next sphere you will realise that money isn’t everything. Because it is clearly your religion here on earth. And our leaders transgress your commandments of finance, how dare them. Maybe you will realise that God has grander designs than redistributing $$$ how you personally see fit.
Last edited by abijah on May 19th, 2019, 4:10 pm, edited 1 time in total.

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David13
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Re: Church to buy bankrupt company's investment portfolio for $30 million

Post by David13 »

Good. Buy cheap and sell high.

Reminds me of when Iaccoca took over Chrysler as they were about to go under, if he didn't. People criticized him for selling the tank plant, which was their only profitable business. But that's the idea. Sell when profitable, buy when not.

In certain circumstances only, not mean to be investor advice, etc, with all the disclaimers.
dc

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David13
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Location: Utah

Re: Church to buy bankrupt company's investment portfolio for $30 million

Post by David13 »

Col. Flagg wrote: May 15th, 2019, 11:08 pm
abijah wrote: May 14th, 2019, 5:00 pm I think Col Flaggs idea of the Last Judgement is nothing more than an audit of finances. Clearly all righteousness & wickedness come back to how much money you throw at the poor - whom we will have always, until Zion is established.

I can hardly think of a bigger waste of the Lord’s money than giving it to the government of Zimbabwe. We are commanded to take what we are given and produce more. Not throwing it into bottomless pits.
Some of you simply do not get it. If it doesn't bother you that Neil Andersen goes over there and tells their VP we are not a rich people and thus downplays the church's capacity to help construct/develop clean water wells for people while $32 billion in church funds sits in the stock market as we build multi-billion malls, million dollar condos, buy up 3% of the land mass of Florida or drop hundreds of millions or billions into commercial real estate for profit that has nothing to do with building the kingdom of God, then I don't know what to say? :lol:

Flaggie
If they give it all away, then nobody does anything. You got to make money to have money to give away. And that means you got to have the means by which you make money.
dc

PS I think we all get it.

PPS, or is it PSS? Don't get me wrong, I say question everything. Post it here and let us look it over to determine for you.

JohnnyL
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Posts: 9830

Re: Church to buy bankrupt company's investment portfolio for $30 million

Post by JohnnyL »

Would you rather invest wisely to spend on building up Zion, or give it away to line the pockets of corrupt people?

///
When the Church loses tax-free status (and it will), how much is it going to lose?

And when it is fined tens of millions for every instance of not letting gays get sealed in the temple, how much is it going to lose?

And how long before we face another Act that takes over all US assets? What will that do to Church finances?

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The Airbender
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Re: Church to buy bankrupt company's investment portfolio for $30 million

Post by The Airbender »

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Last edited by The Airbender on May 19th, 2019, 8:23 pm, edited 1 time in total.

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The Airbender
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Re: Church to buy bankrupt company's investment portfolio for $30 million

Post by The Airbender »

David13 wrote: May 19th, 2019, 4:10 pm
Col. Flagg wrote: May 15th, 2019, 11:08 pm
abijah wrote: May 14th, 2019, 5:00 pm I think Col Flaggs idea of the Last Judgement is nothing more than an audit of finances. Clearly all righteousness & wickedness come back to how much money you throw at the poor - whom we will have always, until Zion is established.

I can hardly think of a bigger waste of the Lord’s money than giving it to the government of Zimbabwe. We are commanded to take what we are given and produce more. Not throwing it into bottomless pits.
Some of you simply do not get it. If it doesn't bother you that Neil Andersen goes over there and tells their VP we are not a rich people and thus downplays the church's capacity to help construct/develop clean water wells for people while $32 billion in church funds sits in the stock market as we build multi-billion malls, million dollar condos, buy up 3% of the land mass of Florida or drop hundreds of millions or billions into commercial real estate for profit that has nothing to do with building the kingdom of God, then I don't know what to say? :lol:

Flaggie
If they give it all away, then nobody does anything. You got to make money to have money to give away. And that means you got to have the means by which you make money.
dc

PS I think we all get it.

PPS, or is it PSS? Don't get me wrong, I say question everything. Post it here and let us look it over to determine for you.
I believe that is called building Zion after the manner of Babylon.

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David13
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Location: Utah

Re: Church to buy bankrupt company's investment portfolio for $30 million

Post by David13 »

The Airbender wrote: May 19th, 2019, 8:22 pm
David13 wrote: May 19th, 2019, 4:10 pm
Col. Flagg wrote: May 15th, 2019, 11:08 pm
abijah wrote: May 14th, 2019, 5:00 pm I think Col Flaggs idea of the Last Judgement is nothing more than an audit of finances. Clearly all righteousness & wickedness come back to how much money you throw at the poor - whom we will have always, until Zion is established.

I can hardly think of a bigger waste of the Lord’s money than giving it to the government of Zimbabwe. We are commanded to take what we are given and produce more. Not throwing it into bottomless pits.
Some of you simply do not get it. If it doesn't bother you that Neil Andersen goes over there and tells their VP we are not a rich people and thus downplays the church's capacity to help construct/develop clean water wells for people while $32 billion in church funds sits in the stock market as we build multi-billion malls, million dollar condos, buy up 3% of the land mass of Florida or drop hundreds of millions or billions into commercial real estate for profit that has nothing to do with building the kingdom of God, then I don't know what to say? :lol:

Flaggie
If they give it all away, then nobody does anything. You got to make money to have money to give away. And that means you got to have the means by which you make money.
dc

PS I think we all get it.

PPS, or is it PSS? Don't get me wrong, I say question everything. Post it here and let us look it over to determine for you.
I believe that is called building Zion after the manner of Babylon.

No, that is called 'we are in the world, but we are not of the world'.
dc

JohnnyL
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Posts: 9830

Re: Church to buy bankrupt company's investment portfolio for $30 million

Post by JohnnyL »

The Airbender wrote: May 19th, 2019, 8:22 pm
David13 wrote: May 19th, 2019, 4:10 pm
Col. Flagg wrote: May 15th, 2019, 11:08 pm
abijah wrote: May 14th, 2019, 5:00 pm I think Col Flaggs idea of the Last Judgement is nothing more than an audit of finances. Clearly all righteousness & wickedness come back to how much money you throw at the poor - whom we will have always, until Zion is established.

I can hardly think of a bigger waste of the Lord’s money than giving it to the government of Zimbabwe. We are commanded to take what we are given and produce more. Not throwing it into bottomless pits.
Some of you simply do not get it. If it doesn't bother you that Neil Andersen goes over there and tells their VP we are not a rich people and thus downplays the church's capacity to help construct/develop clean water wells for people while $32 billion in church funds sits in the stock market as we build multi-billion malls, million dollar condos, buy up 3% of the land mass of Florida or drop hundreds of millions or billions into commercial real estate for profit that has nothing to do with building the kingdom of God, then I don't know what to say? :lol:

Flaggie
If they give it all away, then nobody does anything. You got to make money to have money to give away. And that means you got to have the means by which you make money.
dc

PS I think we all get it.

PPS, or is it PSS? Don't get me wrong, I say question everything. Post it here and let us look it over to determine for you.
I believe that is called building Zion after the manner of Babylon.
I believe that after the Church does all it can monetarily, we'll see God's hand "monetarily", too.

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