--- In [email protected], "Bob Brigante" <[EMAIL PROTECTED]> wrote: > --- In [email protected], jyouells2000 <[EMAIL PROTECTED]> > wrote: > <SNIP> > > > I'm beginning to wonder if the $336 million loss (see posted tax > > returns) is motivating this last extraction of funds before the > final > > pullout to India and points east (naw, that's too conspiratorial) > > > > JohnY > > ******** > > The "loss" you are referring to was not a loss except on paper. > Hartnett gave stock in the privately-held Globalink to Maharishi > Global Development, and assigned an arbitrary and absurdly large > value to that stock (since it was not a publicly-traded stock, he > could assign any value to it). When Globalink went out of business > http://geocities.com/bbrigante/big.html , MGD could no longer list > the stock, and so the paper showed a minus figure for that year, but > it was not a real loss any more than it was a real gain at any time, > and since non-profits don't pay federal tax, it had no impact one way > or the other.
Thanks for that info, Bob - clears that up. Could MDG use the paper value of that stock as some kind of collateral for borrowing other money? JohnY 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/
