25 July 2022

Latter-Day Government: 'Saints-and-Sinners' Expand Their Holdings in Finance, Insurance & Real Estate

It might have started in Salt Lake City in the 19th Century but it didn't stay there.
Six or seven generations later, the quest to establish The Kingdom of Deseret and The New Zion has morphed into a massive expansion using control of local governments and municipal resources as a springboard for expansion annexing more land all the time and/or gaining entitlements and development rights to extensive acres of land and more territory over time.
Here in Arizona it's The East Valley.
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Back in 2012 there was a short Photo Essay
Here's the link to the source https://www.bloomberg.com/news/photo-essays
Visions of America
The Mormon Global Business Empire
Holy Holdings
"Mormons make up only 1.4 percent of the U.S. population, but the Church of Jesus Christ of Latter-day Saints is remarkable for its varied business interests, which include cattle ranches, radio stations, an insurance business, a mall, sewage treatment, and a Polynesian theme park."
Agriculture
The Mormon Church reportedly owns over 1 million acres in continental America on which it runs farms, ranches, orchards, and hunting preserves. It also owns farmland in Australia, the U.K., Brazil, Canada, Argentina, and Mexico. The fruit orchards in Utah's Capitol Reef National Park (pictured) were planted by Mormon pioneers in the 1880s
Deseret Ranch
The 290,000-acre Deseret Ranch in Florida keeps 44,000 cows and 1,300 bulls. It also includes 1,700 acres of citrus trees, as well as timber, sod, and a fossilized-seashell business
City Creek Center
This March, the Mormon Church opened a megamall across the street from its neo-Gothic temple in Salt Lake City. The estimated cost of the emporium, which features a retractable glass roof and fountains that spew choreographed bouts of water and fire, is $2 billion.
Real Estate
Besides malls, the church's businesses include owning and managing office parks, residential buildings, parking lots, and more
Hawaii Reserves
One of its for-profit arms, Hawaii Reserves, even runs a water management company, sewage treatment works, and two cemeteries.
Insurance
The church's Beneficial Life Insurance Company in 2010 had assets worth $3.3 billion and a net income of $17 million, according to the State of Utah Insurance Department.
Media
The church holding company, Deseret Management, owns several media subsidiaries that run a newspaper, a TV station, 11 radio stations, a publishing and distribution company, and more. Last year, the church sold 17 radio stations for $505 million to better focus on Internet ventures
Ensign Peak Advisors
Ensign Peak Advisors is an investment fund of the Mormon Church. According to profiles on LinkedIn, managers at Ensign Peak specialize in international equities, cash management, fixed income, quantitative investment, and emerging markets. One of Ensign Peak's vice presidents in 2006 told the Deseret News that "billions of dollars change hands every day."
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Latter-Day Government in at least one municipality here in Arizona got over-ruled yesterday by a higher authority - the United States 9th Circuit Court, established in 1891.
The government offered testimony to argue that the church ran the government and the government was part of the church.
In its appeal, Colorado City argued that the government could not be found guilty absent a showing that the town was liable for the actions of its officers and agents. That was denied.
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“The plain text of (the law) shows that any government agent who engages in a pattern or practice of conduct that deprives persons of their constitutional rights violates (the law),” . . . it was clear that Congress, in enacting the law, intended for local governments to be held liable when their employees act in unconstitutional ways."
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BLOGGER NOTE: The court clearly found that the city's government [and government agents] engaged in a pattern or practice of conduct  of discrimination based on religion.
Let's give that a name: Latter-Day Government
In essence, the 9th Circuit Court said that the governments functioned as an arm of the church and used municipal resources to advance church interests.
> City leaders who didn't follow order were 'excommunicated'.
> The church determined who would be mayor and council members
> The church ran the government and the government was part of the church.

QOD: You can dig it