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Post Info TOPIC: CC's Debt Load

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Posts: 96
CC's Debt Load

Public Records from Morris County Clerk

Mortgage bonds for over $11 million not including interest payments

Line of Credit for $1.5 million

Mortgage for over $18 million not including interest payments

So some quick numbers; for debt service: $29 million divided by 5,500 members equals $5,300 per member plus interest, and then the overhead and operating carrying costs of two locations.

Call me crazy but this seems like a lot to ask especially in this economic environment.

Any thoughts?


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Posts: 1663

Nice research job, Nikke.

If you throw in operating costs, debt service, large salaries for the corporate hierarchy, it would easily come up to $10,000.00 per person per year. Knowing that they tithe, that would imply that their members makes $100,000.00 K per year

That does seem like an awful lot of money for his clientelle. Is that believable?

What the hell is going on here?

Also, - - -

I wonder if US taxpayers are going to be helping him with this bad debt - - -


-- Edited by Rational at 13:29, 2008-09-26

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