Posted by:
deco
(
)
Date: March 27, 2014 01:56PM
And we should never forget gross incompetence, something LDS Inc is well known for.
The mall will be a giant sucking sound.
American retail is in a tailspin, as Jeff Bezos is taking them all out. Retail cannot compete because of the costs of a brick and mortar building, requiring vast inventory,and staffing the place with people.
From the consumer end, first of all parking is required. Additionally no mall can compete with the prices or selection online.
Retail will continue to be a dying industry, which is not a good thing considering how many people they employ.
However, if the business is a huge money laundering scheme, then losing money is not necessarily a bad thing.
My guess is that the mall was constructed dumping hundreds of millions into insiders hands through unknown contracts. We saw a taste of that with the tax return that was required where the company lost more money than they spent on parking.
https://bulk.resource.org/irs.gov/eo/2011_11_T/20-8152281_990T_201012.pdfUpon completion of construction, the business morphed into a giant money laundering scheme..necessary because...
Huge revenue drops in tithing that have made day to day operations of LDS inc have a negative cash flow.
Decades of insider trading, huge consultant contracts/fees and outright embezzlement from the for profit end of LDS Inc left too little money.
I think LDS Inc is in dire financial straits and we will see a mormon bankruptcy in the foreseeable future. All indications are pointing in that direction.
Edited 2 time(s). Last edit at 03/27/2014 02:02PM by deco.