Some of the high-flying icons of the prosperity gospel—the belief that God rewards signs of faith with wealth, health, and happiness—have run into financial turbulence.
Not all of their troubles can be blamed on the nation’s economic crisis, say critics of the name-it-and-claim-it theology found in some charismatic churches.
“I believe the charismatic movement, of which I am a part, is in the midst of a dramatic overhaul,” said J. Lee Grady, editor of Charisma magazine. “God is shaking us.” Grady predicts the movement will look much different in a few years as it refocuses on evangelism and overcoming what he calls the distraction of “materialism, flashy self-promotion, and foolish carnality.” But Scott Thumma, a Hartford Seminary sociologist who studies megachurches, is not so certain.
“Most clergy who preach a prosperity gospel would interpret for their congregation any conflict, scrutiny, or questioning as an attack of the Devil and proof that they are following God,” he said.
***
But godliness with contentment is great gain. For we brought nothing into this world, and it is certain we can carry nothing out. And having food and raiment let us be therewith content. But they that will be rich fall into temptation and a snare, and into many foolish and hurtful lusts, which drown men in destruction and perdition. For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows. But thou, O man of God, flee these things; and follow after righteousness, godliness, faith, love, patience, meekness. Fight the good fight of faith, lay hold on eternal life, whereunto thou art also called, and hast professed a good profession before many witnesses. (1 Timothy 6:6-12 KJV)
The New York Times Co. is in discussions with Mexican billionaire Carlos Slim about investing in the newspaper publisher to help ease its financial problems, according to people familiar with the matter.
The talks are ongoing and may yet fall apart but one of the options being discussed is a preferred-stock issue. Under this scenario, the Times Co. would issue Mr. Slim preferred stock, which carries no voting right but pays an annual dividend, in return for his investment. The investment would be similar to a loan. Preferred shares are often convertible into common stock after a defined period.
The 68-year-old telecommunications tycoon is said to be discussing a large purchase of preferred shares. The talks are ongoing and may fall apart, as they probably would need the consent of the Sulzberger family, including publisher Arthur Sulzberger, who control the media powerhouse through its ownership of preferred shares.
The preferred shares under discussion would carry no voting rights, but pay a dividend, according to the report. His current stake puts Slim among the largest non-Sulzberger owners of the Times.
The Times is under the gun to raise cash as a $400 million credit line expires in May. The recession has squeezed the paper, which reported a 21 percent drop in ad revenue in November.
The newspaper has made some drastic moves recently to increase cash flow and to raise the needed money, including:
* An ongoing attempt to raise $225 million by selling its 58 percent stake in the new 52-story Midtown skyscraper and then leasing the office space.
* Putting its 17.5 percent stake in New England Sports Ventures, the parent of the Boston Red Sox, on the block. That could raise about $150 million.
* Layoffs and buyouts at the flagship New York Times and its Boston Globe property.
* Cutting back its dividend to investors for three years.
* The recent move to reduce the number of standalone sections and to sell advertising for the first time on Page 1 of the Times.
For Slim, fattening up his stake in the Times would expand his already sizeable holdings. The mogul controls Telmex, which handles about 90 percent of Mexico’s land-based telephone service, and Telcel, which has an 80 percent market share on the country’s cell business.
In 1997, just before Apple launched its iMac line, Slim bought a 3 percent stake in the tech company at a split-adjusted price of about $4.50 a share. Apple closed Friday at $82.33.
Just Warren Buffet, worth about $62 billion, according to Forbes, is richer than Slim. Bill Gates, for years the richest man in the world, is worth about $58 billion, the magazine said.
Very interesting indeed, it is indeed a sign of the times. It does kind of bother me, that the NYT would go south of the border to get someone to put money into their company. Is there not any millionaires here in America? Where’s all those Liberal Hollywood celebrities that cater to those mindless loons that make that newspaper?
I would go off on a “Bill O’Rielly” sounding rant and say it’s because of their bias. But I won’t, because I’m just a bit more honest than that. The Economy is bad, old Media is become the thing of the past, the internet is killing traditional media. hey, times change, either you keep up or your outmoded. Just that simple.
But, damn, what the hell are they gonna call the old gray lady now? The Taco-Head Times? D’oh!
THE PRESIDENT: Good morning. For the last eight years, I have had the honor of speaking to the American people Saturday mornings through this radio address. In hundreds of broadcasts, I have talked to you about important issues affecting our security and our prosperity. And today, in my final address, I want to send a simple and heartfelt message: Thank you.
Eight years ago, Laura and I left our home in Texas to come to Washington. Through two terms in the White House, we have been blessed by your kind words and generous prayers. We have been inspired by those of you who reach out to feed the hungry, clothe the needy, and care for the sick. We have been moved by the courage and devotion of those of you who wear the uniform. Serving as your President has been an incredible honor.
Like every individual who has held this office before me, I have experienced setbacks. There are things I would do differently if given the chance. Yet I’ve always acted with the best interests of our country in mind. I have followed my conscience and done what I thought was right. You may not agree with some tough decisions I have made. But I hope you can agree that I was willing to make the tough decisions.
The decades ahead will bring more hard choices for our country, and there are some guiding principles that should shape our course. While our Nation is safer than it was seven years ago, the gravest threat to our people remains another terrorist attack. Our enemies are patient, and determined to strike again. America did nothing to seek or deserve this conflict. But we have been given solemn responsibilities, and we must meet them. We must resist complacency. We must keep our resolve. And we must never let down our guard.
At the same time, we must continue to engage the world with confidence and clear purpose. In the face of threats from abroad, it can be tempting to seek comfort by turning inward. But we must reject isolationism and its companion, protectionism. Retreating behind our borders would only invite danger. In the 21st century, security and prosperity at home depend on the expansion of liberty abroad. If America does not lead the cause of freedom, that cause will not be led.
As we address these challenges — and others we cannot foresee today — America must maintain our moral clarity. I’ve often spoken to you about good and evil. This has made some uncomfortable. But good and evil are present in this world, and between the two there can be no compromise. Murdering the innocent to advance an ideology is wrong every time, everywhere. Freeing people from oppression and despair is eternally right. This Nation must continue to speak out for justice and truth. We must always be willing to act in their defense — and to advance the cause of peace.
Eight years ago, on a cold January morning, I stood on the steps of the United States Capitol, placed my hand on the Bible, and swore a sacred oath to defend our people and our Constitution. On that day, I spoke of “our Nation’s grand story of courage and its simple dream of dignity.” Next week, my term of service will come to an end — but that story and that dream will continue.
On Tuesday, Laura and I will join all Americans in offering our best wishes to President Obama, his wife Michelle, and their two beautiful girls. And later that day, we will return to the love of family and friends in Texas. I will depart office proud of my Administration’s record. And I will spend the rest of my life grateful for the opportunity to have served as President of the greatest nation on Earth.
TACOMA, Wash. – It was a sell-out crowd at the Monster Jam monster truck show Saturday at the Tacoma Dome, despite a tragedy the previous evening.
A 6-year-old boy died when a piece from a truck flew into the stands at the show Friday night.
The city of Tacoma reviewed safety procedures and decided that despite the fatal incident, the show would go on.
According to the Tacoma Dome’s Web site, four Monster Jam shows were scheduled for Saturday and Sunday.
The event company, Feld Motor Sports, based in Aurora, Illinois, said this type of incident has never happened in the 25-year history of Monster Jam events. They released this statement: “Feld Motor Sports is looking into the accident. The safety of our customers is our top priority.”
Feld puts up safety barriers at both ends of the arena floor. They don’t sell seats in the front rows to keep the audience away from the action.
I don’t think that it would be out of place to request that all my readers offer up a small prayer for this family tonight.
That is a whole lot of paranoid delusion wrapped up in one sentence.
I think you may need to get your meds adjusted. I think you’re having some kind of reaction.
You can see all comments on this post here:
He is, of course, referring to this posting here. Which was, a bit of snark and my political opinion.
Well, seeing it was more of a stupid troll comment, I deleted it. Besides, this is my Blog, I do not have to allow myself to be insulted by some anonymous assplow.
Censorship is closer to the Soviets and the Nazis that Obama.
If you are so firm in your beliefs, what are you afraid of?
No asshole. I have fucking rules here, you might want to go read them. Not that it will matter, I’ve added your IP address to the list of those not allowed to comment here.
Stupid fucking Liberal Moonbat Communist Assplows. 🙄
It’s going to be a long four to eight years.
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