only half empty
By Diogenes (articles ) | July 11, 2008 5:57 AM
The annual budget showed a $2 million deficit and the pension fund is short by $110 million. Yet the Boston Globe headline story on the Boston archdiocese carries the odd title: "Diocese's financial picture brightens."
If a $2 million deficit offers a "bright" prospect, what would be dark? Well, there's last year's $9 million deficit to consider. And the 9-figure payouts to sex-abuse victims. Fair enough.
Still, there are clouds on the horizon. Such as that pesky $110 million shortfall in the clergy pension fund. Coincidentally, that gap could be filled by a sum slightly less than what the archdiocese has paid out to atone for the indiscretions of some clerics.
Then there's the $2 million that the archdiocese paid in legal fees last year. Hmm: $2 million. Where have we heard that figure before?
Oh, and the expenses include "$266,415 to its public relations consultants, Rasky Baerlein Strategic Communications." Money well spent, I'm sure. Gotta have a positive public image.
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Posted by: -
Jul. 11, 2008 4:37 PM ET USA
Don't worry, the damages from that Whirlpool lawsuit will help replenish the coffers!
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Posted by: -
Jul. 11, 2008 1:29 PM ET USA
Tell it to the aging clergy, Antonius. How do you suppose they feel, knowing that their pension fund is $110,000,000 short?
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Posted by: -
Jul. 11, 2008 11:34 AM ET USA
It's clear that the Archdiocese is doing better, thanks be to God. It is clearly brighter than years ago. But there is, as you point out D, still much left from the scandals era. At least they're on to the problem and trying to rectify it with new people, new openness and honesty, and fidelity. The temple of Jerusalem wasn't rebuilt in a day, either. Your present criticism, D, is as outdated as would be criticizing the present Celtics for the Rick Pitino days. Time to see the rays of sunshine.
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Posted by: -
Jul. 11, 2008 6:43 AM ET USA
....."a shortfall in the clergy pension fund"??? In the private sector, a "shortfall" in the pension fund is called embezzlement and is the fastest ticket to the Federal Penitentiary for the CEO and CFO of a corporation. We have this same problem in Los Angeles. Why isn't anyone going to jail over this "shortfall"? Who embezzled the money and what was it used for? Or as we say in Los Angeles: "Where's the money, Roger?"
