High Cost of not running a Mall

[_moksha]

From the Wall Street Journal

http://online.wsj.com/article/SB10001424052702303717304577278993475062000.html

SALT LAKE CITY—In the heart of this western capital's downtown, the Mormon church and mall owner Taubman Centers Inc. are preparing to throw the wraps off a retail anomaly next week: a megamall with eye-popping extras such as a man-made creek, retractable roofs and a fountain that erupts in choreographed jets of water and fire.

The church financed the development without taking a mortgage or construction loan. Taubman, one of the country's largest mall owners, has said that its investment is limited to a $76 million stake in the retail space and that it expects a 12% return on that. Under the terms of its deal, Taubman has agreed to lease the property on a long-term basis from the church.

When I first read the bolded portion, I assumed that Taubman was a cleaning company, since the Church is obviously being taken to the cleaners based on a $76 million dollar investment and returning 12% of all revenues.

[_moksha]

What is with this boring financial crap?

[_Drifting]

12%?

One would have thought the paid clergy would have negotiated this down to 10% of all income...

[_ldsfaqs]

1. They are not "paid"..... They receive a living stipend, equivalent to their experience and qualifications what they would have been doing and making in the private sector.

These are not people who "earned" their way, and sought after the Apostleship. They are self-made men who lived their own faithful lives and were simply called to the work.

Why don't you spend your life mocking other religions that actually "pay" their Preachers etc., men who work to get their position, etc.??? Why do you feel the need to mock a religion that does the complete opposite, and the only similarity is that at the very top there is some sort of money exchange??? Everything else about the LDS system is different, entirely eliminating the greed aspect, the pursuit of gain, the doing it for the money, etc. etc.

2. As you all should well know by know, it's the Churches BUSINESS SIDE, not "The Church" itself, which has paid for the Mall. Further, the Apostles Stipends also come from the business side, NOT from Tithing, etc.

You all have nothing to complain about here other than you're just engaging in Envy and Coveting. Since you're not rich and successful, it makes you feel good to belittle others who are.

[_Buffalo]

1. They are not "paid"..... They receive a living stipend, equivalent to their experience and qualifications what they would have been doing and making in the private sector.

A Clintonesque equivocation.

[_ldsfaqs]

1. They are not "paid"..... They receive a living stipend, equivalent to their experience and qualifications what they would have been doing and making in the private sector.

A Clintonesque equivocation.

Nope..... It would be when it concerns other religions that "pay" their leaders, but it's not in the LDS Church. Our system is entirely different. The thing you are "upset" about does not occur in Mormonism, thus you are suffering from penis envy, rather than something actually sinful.

Getting compensation for work to support ones family is not a sin.
The early Apostles who got compensated in their ministry to provide for themselves and their family were not sinning. If anything, the LDS system is actually better because money is not coming directly out of members pockets, but from outside the system.

[_Molok]

The thing you are "upset" about does not occur in Mormonism, thus you are suffering from penis envy, rather than something actually sinful.
.

YEAH, Buffalo. Stop with the penis envy.

[_cafe crema]

1. They are not "paid"..... They receive a living stipend, equivalent to their experience and qualifications what they would have been doing and making in the private sector.

A Clintonesque equivocation.

Nope..... It would be when it concerns other religions that "pay" their leaders, but it's not in the LDS Church. Our system is entirely different. The thing you are "upset" about does not occur in Mormonism, thus you are suffering from penis envy, rather than something actually sinful.

Getting compensation for work to support ones family is not a sin.

pay/pā/
Verb:

Give (someone) money that is due for work done, goods received, or a debt incurred.
Seal (the deck or hull seams of a wooden ship) with pitch or tar to prevent leakage.

Noun:
Money paid to someone for regular work.

Pay is pay is pay, you can pretend otherwise to your hearts content but, if they are getting compensation for work done bottom line is they are paid clergy. The only thing that's different between LDS and other religions paid clergy is in other churches even the lower ranks get compensated for their labor.

[_moksha]

For the mathematically inclined in the forum, what percentage of $5 Billion dollars does $76 Million represent? Is is much less than the annual 12% of the revenues to be paid out?

[_bcspace]

Stipend means pay. So what? The Church still has an unpaid clergy.