Laughing All The Way To The Bank
2 the Editor/s:
For what it's worth, this is a segment of an article in the 12/22/00 issue of the Pasadena Star News. It shows what part of the planning by Legacy Partners is for the "new improved" Ambassador campus, and the remnant of what we all paid for.
Article: The Legacy development would occupy two properties, owned by Ambassador College, which are split by the 710 Freeway stub. The 34-acre western property, formerly the Ambassador College campus, is mostly between Green Street and Del Mar Boulevard and St. John Avenue and South Orange Grove Boulevard. The western property, to be named Carmelita, would contain the Ambassador Auditorium, 942 new condominiums and 18 new houses, in addition to several existing homes and apartment buildings. The 14-acre eastern property is located just south of Old Pasadena, mostly between Green and Del Mar and Pasadena and De Lacey avenues. To be named The Village in Old Pasadena, it would contain 557 apartments and 406 condominiums. The Draft EIR describes the eastern property as a "technology-oriented office campus with ... multifamily residential uses," but the project will not include office space, Shubin said. Instead it will be developed into a scenario that includes only housing and a small amount of commercial space. I know this is a little disheartening, but commercial development like religion has no respect for people's feelings, investments, or if they've been fleeced out of their life's savings.
2 the Editor/s:
Here in CA, it's still pretty much up-in-the-air as to the exact closing time for escrow in the matter of the Ambassador College campus. We'll keep you informed as we get updates.
In a previous memo to you, I covered the proposed new office layout for the campus property as defined by Legacy Partners, a huge development company from Orange County, CA. However, there are still areas that they don't appear to be developing. While the older homes on Orange Grove and Del Mar will be torn down and open hillocks and dichondra-grassed land will be built on, as of now, the properties along Green Street, from Orange Grove to DeLacey, along with the Auditorium and the Student Center will apparently stand. Along Green Street, this comprises all the classrooms in the old Loma D. Academic Center, the radio and TV studios (fully equipped), and the huge, opulent, Administration Building.
During this whole selling process, a number of other churches and their officials have been interested in the campus. Jack Hayford, for example, is one. He is the pastor of the Van Nuys charismatic Church of the Way in SoCal, and is on the board of several church and secular organizations. Jack, a traditionalist "Jesus" salesman and TBN blabbermouth, and has said he'd like to retire and start a "College for Ministers." He has looked at AC. Whether or not anything will happen here, with he or others, still remains a question, but what property Legacy haven't shredded or leveled, as mentioned above, could be used for some church's, etc.further expansion.
Anyhow, the profits from the sale are targeted for the current Worldwide Church of God coiffures, and as a legal "church" (no matter how innocuous), all this money is still TAX EXEMPT. There is still nothing to stop the Worldwide Church of God hierarchy from filtering this money out of the country into off-shore corporations and accounts registered personally under their own names.
The final sale amounts (which may never be revealed truthfully) has been speculated to be between $200 million and $300 million. If we take the lower figure, and the lawyers will get their usual $60+ million, then this leaves a conservative figure of $120 million for the Worldwide Church of God executives "to have and to hold from this day forward." Given the small number of execs that now exist, this makes the split of 120 mil very lucrative for each party. Especially, since it's all bankable to them and currently tax exempt. If it leaves the country (which most of it eventually will), then the IRS will never see a dime.
Not that these cultmasters ever would, BUT if they were truly honest, then this whole transaction could have been handled differently. For the modest realty commission, which AC could have easily absorbed, they could have taken that $200 million and divided it between the 40,000 legitimately departed members. These are ex-members whose lives have been ruined, family members deceased, and finances destroyed because of the cult. Divide that 200 mil by 40k, and we have a figure of $5,000 as an average figure for each of those departed members. Although not anywhere near the payback that would compensate most folks, it would provide (at least) good will for all the horrendous damage done - something which has been subsequently admitted to by many of those cult managers.
Instead - and we can COUNT on this - these current Worldwide Church of God cultmasters are now laughing all the way to the bank - local and off-shore - and will (no doubt) definitely forget to toast us as they pocket the profits, wallow in luxury, and live the rest of their useless lives on the gains from all the criminal activity that has come out of Herbie's Cult.
4 wot it's worth.JohnO
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