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View Diary: Why was Mitt Romney chosen as CEO of '02 Olympics? Updated with thoughts. (132 comments)

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  •  Could be, but we'll never know, (15+ / 0-)

    because churches aren't required to open their books, and the church hasn't reported finances since the 60s. This, and the following snips, from long but highly recommended article in  Business Week article, How the Mormons Make Money.

    [Historian D. Michael] Quinn, a faithful Mormon who spent 12 years on the faculty at the LDS Church’s Brigham Young University in Provo, Utah, before being excommunicated for apostasy related to research he published on Mormons, has been gathering financial information for years. Several 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....

    The church also makes money through various investment vehicles, including a trust company and an investment fund called Ensign Peak Advisors, which employs managers who specialize in international equities, cash management, fixed income, quantitative investment, and emerging markets, according to profiles on LinkedIn (LNKD). Public information on Ensign Peak is sparse. In 2006 one of the fund’s vice presidents, Laurence R. Stay, told the Mormon-run Deseret News, “As we trade securities, all of the trading happens essentially with a handshake. … There’s lots of protections around it, but billions of dollars change hands every day just based on the ethics of the group—that people know that they can trust each other.” ....

    a recent investigation by Reuters in collaboration with sociology professor Cragun estimates that the LDS Church is likely worth $40 billion today and collects up to $8 billion in tithing each year.

    "Let each unique song be sung and the spell of differentiation be broken" - Winter Rabbit

    by cotterperson on Sat Jul 28, 2012 at 10:44:31 AM PDT

    [ Parent ]

    • may be suggesting they would (4+ / 0-)

      not benefit from Obama and Warren being elected? :>

      And the often proposed transaction tax, that might be a problem for them as well.....

      From those who live like leeches on the people's lives, We must take back our land again, America!...Langston Hughes

      by KenBee on Sat Jul 28, 2012 at 12:51:22 PM PDT

      [ Parent ]

    •  but romney's out on his own, right? (0+ / 0-)

      his brand is on it, he got the funding to start that part of bain, and the mormons have their own green - it doesn't seem right he'd be a front man for that, especially spending so much on mansions, etc.

      something fishy going on, but it might just be that's the set up for a mormon president. on the other hand it also doesn't seem realistic that the mormon church would ever think a mormon could get that far in this 'christian' environment. except maybe when the alternative is a black man. but the planning would have gone back a long way if that's what they were trying. doesn't make sense.

      but getting  your own planet when you die doesn't either....

      This is a list of 76 universities for Rush Limbaugh that endorse global warming denial, racism, sexism, and partisan lying by broadcasting sports on Limbaugh radio stations.

      by certainot on Sat Jul 28, 2012 at 02:55:11 PM PDT

      [ Parent ]

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