--- In FairfieldLife@yahoogroups.com, "Cliff" <[EMAIL PROTECTED]> wrote: > Valued by whom? Assets, unless they are cash or readily > tradeable stocks or bonds, are subject to remarkably wide > ranges of valuation. Something which an auditor might claim > to be worth $187 million might, if push came to shove, be worth > only $5 million. I've seen Movement valuations in the past that were > based on what donors said their stock donations in privately held, > lying-through-their-teeth-financial-statment companies were > worth. > > Ultimately, something is only worth what someone else is > willing to pay for it. And I would bet considerable amounts of money > that the assets in the World Peace Fund weren't worth anything close > to a "real" $187 million.
That was definitely true in 1999 when the Fund was valued at close to $600 million and it looks like over $200 million of that was GlobalLink stock which was probably already worthless by then. In 2003 there was some cash and stock in the Fund, but it was almost all real estate. My guess is all the hotels that the tmo has been selling lately were in there - have no idea if the market price is close to what was on the books. PS. It seems Hartnett made out OK in his dealings with the mov't. Got huge tax write-offs for donating essentially worthless stock and got out of his big mortgage on the headquarters building by selling it to the tmo for a million dollars when no-one else was interested -- the tmo raising the money from local donations under the ruse it was for King Tony who come here to live, bringing some sort of divine vedic rulership with him -- how is it the donors keep forgetting so easily the grand schemes for which their $$ went? ------------------------ Yahoo! Groups Sponsor --------------------~--> Get fast access to your favorite Yahoo! Groups. Make Yahoo! your home page http://us.click.yahoo.com/dpRU5A/wUILAA/yQLSAA/JjtolB/TM --------------------------------------------------------------------~-> To subscribe, send a message to: [EMAIL PROTECTED] Or go to: http://groups.yahoo.com/group/FairfieldLife/ and click 'Join This Group!' Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/FairfieldLife/ <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
