Doing the Business of the Church
Some mixed news from Sage's mailing list. I haven't seen it on their website yet so I'm quoting it in its entirety here. ANO September 2, 2022 Dear Shareholder, Please see the below update from the management and the board of Sage Properties Corp. (“Sage”): A. Waterline Update The Conrich Waterline to the Prince of... Continue Reading →
When the whole ABC District debacle debuted in Jan 2105, depositors that'd trusted the Lutheran Church with their funds were treated rather shabbily - good information wasn't forthcoming, District officials misrepresented what had actually happened, District struck a Task Force to investigate what happened and when the task force issued its first report, disbanded the... Continue Reading →
Every CCAA liquidation has a process - an application is made to the courts, the courts appoint a liquidator to be the courts eyes and ears, the liquidator works under the courts to sell assets, restructure the company, and possibly create a new company from the remains of the old company. When the liquidator's job... Continue Reading →
In the original article I wrote that Shepherd Valley Ministry (SVM) was worth $12M at best. A sharp-eyed reader noted that the actual funds advanced to SVM was more along the lines of $17M and that $12M was what the CEF Board forgave SVM. Checking my prior archives (which I should've done in the first... Continue Reading →
One of the minor players in the CEF / DIL / Prince of Peace fiasco was a small development project known as Shepherds Village Ministries (SVM). Like the Prince of Peace village, this project was mostly about a seniors care / life lease type of development for older people to live. (You can read my... Continue Reading →
Jeremiah 12:5 talks about how people that aren't up to a simple difficulties will be in trouble when real challenges come. LCC should've caught the ABC District CEF / DIL's fiasco before it metasticized and dealt with the inevitable result when it became public. It didn't, and as a consequence people who've been Lutherans for... Continue Reading →
On Jan 5, 2015 DP Schiemann misled the public by declaring a “sufficient cash flow shortage” as opposed to "we took your money, put it in some speculative real estate / business ventures, told everyone their money was safe, and then we ran out of depositor funds." Today my webpage monitoring software "bing"ed to let... Continue Reading →
Ok, I must've been asleep at the wheel to make the mistakes I made on the original post, so here's a mea-culpa post. Correction #1: As it turns out, there are two "Ruf"s involved in the CEF/DIL mess and I got them confused. Harry Ruf was ABC District President when the life lease village was... Continue Reading →
Hi Gang - Yes, I've been gone for a bit. Repeatedly pointing out LCC's ongoing and unrepentant bad behavior has gotten rather tedious so I've been working on other things. However - when news like this comes up, I had to fire up the old editor to get the word out. First - Sage Properties... Continue Reading →
Sage has been working on subdividing some lands, and, if the normal process had been followed, they'd have had to get over 100 condominium owners to sign the pertinent documents. Since this was a huge undertaking, Sage applied to the court to waive this requirement. On Mar 5, 2021, the court agreed with Sage's request.... Continue Reading →
ANO / Lutheran Watch 