JAHS Posted June 23, 2021 Posted June 23, 2021 Mormon church outbids Bill Gates in bid for bankrupt Easterday Farms properties PASCO - The Capital Press reports that Farmland Reserve Inc., a real estate subsidiary of the Church of Jesus Christ of Latter-day Saints, has the highest bid in the pursuit to acquire liquidated Easterday Farms properties throughout the Columbia Basin, including Othello. The runner-up in the bid was Bill Gates’s 100 LLC, which had a bid come in at $208 million, according to records obtained by the Capital Press. Farmland Reserve appears poised to buy several Easterday Farms which include Goose Gap Farm, River Farm, Cox Farm, and Farm Manager House. Earlier this year, Cody Easterday, his wife, and mother reportedly filed bankruptcy after accusations came to light about him bilking Tyson Foods out of $244 million in a ghost cattle scheme. Easterday pleaded guilty to billing Tyson for cattle that didn’t exist. The 49-year-old was charged with wire-fraud and now faces up to 20 years in prison. Easterday will be sentenced on Aug. 4. The auction for the Easterday properties was conducted via videoconference on June 17 between five qualified bidders. Easterday Ranches and Farms was founded by Cody’s grandpa in 1959. 1
Robert F. Smith Posted June 23, 2021 Posted June 23, 2021 17 minutes ago, JAHS said: ................................. Earlier this year, Cody Easterday, his wife, and mother reportedly filed bankruptcy after accusations came to light about him bilking Tyson Foods out of $244 million in a ghost cattle scheme. Easterday pleaded guilty to billing Tyson for cattle that didn’t exist. The 49-year-old was charged with wire-fraud and now faces up to 20 years in prison. Easterday will be sentenced on Aug. 4. .......................... Very interesting. Looks as though Cody is going to do a well-deserved stretch in Federal Prison. Such large purchases by the LDS Church make valuable investments all the more meaningful, despite false claims from ill-wishers. 4
JustAnAustralian Posted June 23, 2021 Posted June 23, 2021 About $210million according to this article which includes a map https://www.nwpb.org/2021/06/18/major-swath-of-easterday-land-in-southeast-washington-goes-for-nearly-210-million-at-auction/ 3
secondclasscitizen Posted June 23, 2021 Posted June 23, 2021 (edited) This is awesome! Between this and the Marriott hotel in hawaii they have spent nearly $360mm in tithing on real estate in just about one week. Edited June 23, 2021 by secondclasscitizen 2
Popular Post JustAnAustralian Posted June 23, 2021 Popular Post Posted June 23, 2021 Just now, secondclasscitizen said: This is awesome! Between this and the Marriott hotel in hawaii they have spent nearly 1/2 billion $$ in tithing on real estate in just about one week. You could be part of James Huntsman's legal team with that line. 7
Popular Post Hamba Tuhan Posted June 23, 2021 Popular Post Posted June 23, 2021 'And let all the churches send up wise men with their moneys, and purchase lands even as I have commanded them' (D&C 103:23). 13
secondclasscitizen Posted June 23, 2021 Posted June 23, 2021 40 minutes ago, JustAnAustralian said: You could be part of James Huntsman's legal team with that line. Uh mebbe I need to go back and read the story. I’m missing something 1
secondclasscitizen Posted June 23, 2021 Posted June 23, 2021 7 hours ago, JustAnAustralian said: You could be part of James Huntsman's legal team with that line. Nothing about huntsman. Perhaps you can elaborate. ?
Fether Posted June 23, 2021 Posted June 23, 2021 (edited) 7 hours ago, secondclasscitizen said: This is awesome! Between this and the Marriott hotel in hawaii they have spent nearly $360mm in tithing on real estate in just about one week. Couldn’t have spent it better myself. Side note, it probably wasn’t tithing. And if it was, it likely wasn’t all tithing, but rather investments. Edited June 23, 2021 by Fether 1
secondclasscitizen Posted June 23, 2021 Posted June 23, 2021 1 hour ago, Fether said: Couldn’t have spent it better myself. Side note, it probably wasn’t tithing. And if it was, it likely wasn’t all tithing, but rather investments. Why wouldn’t it be tithing? They spent 1.5bn and 600mm on a mall and a bankrupt insurance company so I doubt a hotel and a bankrupt farm is out of the question.
HappyJackWagon Posted June 23, 2021 Posted June 23, 2021 1 hour ago, Fether said: Couldn’t have spent it better myself. Side note, it probably wasn’t tithing. And if it was, it likely wasn’t all tithing, but rather investments. And investment capital comes from...where? Other investments which come from... other investments...which come from other investments...which come from tithing seed money 4
JAHS Posted June 23, 2021 Author Posted June 23, 2021 10 hours ago, JustAnAustralian said: About $210million according to this article which includes a map https://www.nwpb.org/2021/06/18/major-swath-of-easterday-land-in-southeast-washington-goes-for-nearly-210-million-at-auction/ That's a high price for 12,000 acres, but I guess it includes all the buildings and cattle and orchards etc. I wonder what Bill Gates would have done with it?
Popular Post Fether Posted June 23, 2021 Popular Post Posted June 23, 2021 42 minutes ago, HappyJackWagon said: And investment capital comes from...where? Other investments which come from... other investments...which come from other investments...which come from tithing seed money So if so give the church $1000 in tithing, and they turn that into $10,000,000 through investments, is that $10,000,000 tithing? Follow up question, should I be concerned or disgusted with a church who can turn $1000 into $10,000,000 through investing? 7
Fether Posted June 23, 2021 Posted June 23, 2021 1 hour ago, secondclasscitizen said: Why wouldn’t it be tithing? They spent 1.5bn and 600mm on a mall and a bankrupt insurance company so I doubt a hotel and a bankrupt farm is out of the question. Just pointing out that the church had a lot of investments so it probably wasn’t all money straight from the pockets of members. And even if it was, good on them for using the funds I have them so well 1
Tacenda Posted June 23, 2021 Posted June 23, 2021 2 hours ago, Fether said: Couldn’t have spent it better myself. Side note, it probably wasn’t tithing. And if it was, it likely wasn’t all tithing, but rather investments. It really shouldn't be any tithing. But now that it's all put one pot, no one will ever know.
bluebell Posted June 23, 2021 Posted June 23, 2021 46 minutes ago, JAHS said: That's a high price for 12,000 acres, but I guess it includes all the buildings and cattle and orchards etc. I wonder what Bill Gates would have done with it? Don't forget the water rights. Those are worth a lot of money in that area. Bill Gates already owns over 200,000 acres of farmland in lots of different states. Like most super wealthy investors, it's a way to diversify his holdings. 3
bluebell Posted June 23, 2021 Posted June 23, 2021 30 minutes ago, Fether said: So if so give the church $1000 in tithing, and they turn that into $10,000,000 through investments, is that $10,000,000 tithing? Follow up question, should I be concerned or disgusted with a church who can turn $1000 into $10,000,000 through investing? I think people forget that a lot of members give to the church in ways that isn't tithing. People leave the church money and property all the time when they die, for example. 3
Meadowchik Posted June 23, 2021 Posted June 23, 2021 1 hour ago, Fether said: So if so give the church $1000 in tithing, and they turn that into $10,000,000 through investments, is that $10,000,000 tithing? Follow up question, should I be concerned or disgusted with a church who can turn $1000 into $10,000,000 through investing? One might say the 10 mil is potential of tithing. As a moral question, I would compare it to the possibly lost opportunities. Could that 1000, or even 100k after growth could have been used to ease suffering and advance human opportunities, for example? Is something neglected when the choice to continue investing is made? 1
JAHS Posted June 23, 2021 Author Posted June 23, 2021 (edited) 50 minutes ago, Meadowchik said: One might say the 10 mil is potential of tithing. As a moral question, I would compare it to the possibly lost opportunities. Could that 1000, or even 100k after growth could have been used to ease suffering and advance human opportunities, for example? Is something neglected when the choice to continue investing is made? The church donates a very large amount of funds into charitable causes. They grab onto many donation opportunities that many are not aware of. They are trying to maintain a healthy balance between what is needed for growth and survival in the future and what they give out for charitable causes. Please see this list of what they have done every month. And those are only the ones that are reported in the news. I don't think they are neglecting anything. Edited June 23, 2021 by JAHS 3
Popular Post JLHPROF Posted June 23, 2021 Popular Post Posted June 23, 2021 2 hours ago, HappyJackWagon said: And investment capital comes from...where? Other investments which come from... other investments...which come from other investments...which come from tithing seed money Yeah, those Saints who paid tithing in the 1920s must be absolutely furious. How dare the Church invest that tithing in such a way that they haven't had to dip into tithing for new investments in decades. 6
Meadowchik Posted June 23, 2021 Posted June 23, 2021 13 minutes ago, JAHS said: The church donates a very large amount of funds into charitable causes. They grad onto many donation opportunities that many are not aware of. They are trying to maintain a healthy balance between what is needed for growth and survival in the future and what they give out for charitable causes. Please see this list of what they have done every month. And those are only the ones that are reported in the news. I don't think they are neglecting anything. I presented what is imo the moral question. But to answer it ourselves, I don't think we can without full financial transparency from the church.
Popular Post JLHPROF Posted June 23, 2021 Popular Post Posted June 23, 2021 41 minutes ago, Meadowchik said: One might say the 10 mil is potential of tithing. As a moral question, I would compare it to the possibly lost opportunities. Could that 1000, or even 100k after growth could have been used to ease suffering and advance human opportunities, for example? Is something neglected when the choice to continue investing is made? Church law on tithing: D&C 119:1 Verily, thus saith the Lord, I require all their surplus property to be put into the hands of the bishop of my church in Zion, 2 For the building of mine house, and for the laying of the foundation of Zion and for the priesthood, and for the debts of the Presidency of my Church. 3 And this shall be the beginning of the tithing of my people. Tithing is NOT for easing suffering and advancing human opportunities. I'm a little tired of the complaint that tithing should be used only for charitable purposes. That is neither its design nor a requirement. Anybody paying tithing thinking it is used for charitable purposes needs to read their scriptures. 13
Tacenda Posted June 23, 2021 Posted June 23, 2021 46 minutes ago, JAHS said: The church donates a very large amount of funds into charitable causes. They grab onto many donation opportunities that many are not aware of. They are trying to maintain a healthy balance between what is needed for growth and survival in the future and what they give out for charitable causes. Please see this list of what they have done every month. And those are only the ones that are reported in the news. I don't think they are neglecting anything. I wish we knew if this came from members' donations or from investment earnings.
JAHS Posted June 23, 2021 Author Posted June 23, 2021 57 minutes ago, Tacenda said: I wish we knew if this came from members' donations or from investment earnings. To most members who do the donating it doesn't matter where it comes from. 4
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