Quote:
Originally Posted by surfah33
Perhaps I am overstating the wealth. It's not Catholic wealthy. But in perspective, as a small church not even 200 years old it's gross income would certainly thrust the church into the Fortune 500.
You're correct that the Church must continue to use fiscal wisdom in its investments, but that applies to any company no matter their cash flow. Positive cash flow means little when companies like Google and Yahoo can catapult up the Fortune 500. And on the other side of things look at the companies who have fallen out of the Fortune 500. AT&T for example went from in the top tier to out of the list in a single year I believe.
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I would disagree with you. Financially, the church is better off than the Catholic church, IMO. The Catholic church has been devastated by a loss of liquid reserves through litigation awards and failed enterprises. Most of their wealth today is somewhat illiquid (and priceless) in the form of cathedrals, art, etc. While they could sell them (and indeed have sold some small cathedrals of late), could you ever actually sell most of what they hold? Hard to imagine.
The church has lots of liquid reserves. Lots. This project is well within their capabilities.