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ccchhhrrriiisss
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Joined: 2003/11/23
Posts: 4527


 The Crystal Cathedral files for bankruptcy...

http://news.yahoo.com/s/ap/20101018/ap_on_re_us/us_crystal_cathedral

Crystal Cathedral megachurch files for bankruptcy
By AMY TAXIN
Associated Press Writer
18 October 2010

GARDEN GROVE, Calif. – Crystal Cathedral filed for bankruptcy on Monday in Southern California after months of trying to overcome mounting debt.

The megachurch, birthplace of the "Hour of Power" televangelist broadcast, announced its filing as it struggled to emerge from debt estimated earlier this year at $55 million.

Church spokesman John Charles said the church owes about $7.5 million to a host of vendors for services such as advertising and providing the use of live animals for Easter and Christmas services.

The church was negotiating a payment plan with vendors but several chose to file lawsuits, the church said in a statement.

"We've always believed in a big God ... a God Who is greater than any problem or challenge we could ever face," Sheila Schuller Coleman, the Cathedral's senior pastor, said in the statement. "Our announcement today to file for the protection of Chapter 11 is just one more chapter in the book that He is continuing to write."

The Orange County-based church, founded in the mid-1950s by the Robert H. Schuller Sr., earlier this year ordered major layoffs. It also cut the number of stations airing the "Hour of Power" and sold property to stay afloat.

In addition, the 10,000-member church canceled this year's "Glory of Easter" pageant, which attracts thousands of visitors and is a regional holiday staple.

The church was founded at a drive-in theater and attracted congregants with its sermons on the power of positive thinking. Its worship hall features a soaring glass spire that opened in 1970 and remains an architectural wonder and tourist destination.

The "Hour of Power" telecast, filmed in the cathedral's main sanctuary, at one point attracted 1.3 million viewers in 156 countries.

Church leaders said the Crystal Cathedral's Sunday services and weekly-telecast "Hour of Power" will continue while in bankruptcy.

The church also said recent financial reports show good cash flow, but the financial woes were triggered by a drop in revenue in 2009 due to the recession.

The church saw revenue drop 27 percent from roughly $30 million in 2008 to $22 million in 2009. Leaders had projected an 18 percent revenue decline.

Other megachurches have also suffered from the downturn and reduced charitable giving.

Click on the link at the top or below to visit the original article.

http://news.yahoo.com/s/ap/20101018/ap_on_re_us/us_crystal_cathedral


_________________
Christopher

 2010/10/18 19:10Profile









 Re: The Crystal Cathedral files for bankruptcy...

I remember reading in David Wilkersons book the Vision where he states that Churches that don't have a clear mandate from God would suffer the consequences of bankruptcy. There is no joy for any Church that goes down, but was this a Church?

 2010/10/18 19:32
ADisciple
Member



Joined: 2007/2/3
Posts: 835
Alberta, Canada

 Re:

There will be more.


_________________
Allan Halton

 2010/10/18 20:35Profile
Lysa
Member



Joined: 2008/10/25
Posts: 3420
This world is not my home anymore.

 Re:


I found this remark on baptistboard.com

Quote:
by drfuss:
Wow, what a coincidence! A few weeks ago as I was flipping through the channels I caught the Hour of Power with the younger Shuler speaking and I had commented to my wife how surprisingly biblical his message was. And she jokingly said that he better watch out or he would get fired. I said he couldn't be fired because he is the hereditary preselect to the throne of the Crystal Cathedral. I guess she was right!
http://www.baptistboard.com/showthread.php?t=54638




_________________
Lisa

 2010/10/18 20:59Profile









 Re: The Crystal Cathedral files for bankruptcy...

Though legal in the eyes of the law, this is unrighteous. Those that stray from the teaching of Christ... it WILL show in their actions soon enough.

"The wicked borroweth, and payeth not again: but the righteous sheweth mercy, and giveth."(Psalm 37:21)

"Woe unto him that buildeth his house by unrighteousness, and his chambers by wrong; that useth his neighbour's service without wages, and giveth him not for his work." (Jeremiah 22:13)

Samuel, a righteous man's testimony on this issue:
"Behold, here I am: witness against me before the LORD, and before his anointed: whose ox have I taken? or whose ass have I taken? or whom have I defrauded? whom have I oppressed? or of whose hand have I received any bribe to blind mine eyes therewith? and I will restore it you. And they said, Thou hast not defrauded us, nor oppressed us, neither hast thou taken ought of any man's hand." (1 Samuel 12:3-4)

Edit: Upon reading this full article, I may have spoke too quickly. It goes on to say they do hope to pay off their creditors. If they go to every possible length to do that, the above scriptures would not apply. I need to be fair. Should have read the whole article before I posted.

That they would spend so much on credit to begin with is still unrighteous and presumptuous, as actually paying this all back will take a long time, if ever. Those they owe money to should not have to wait in uncertainty to have that which already rightfully belongs to them.

 2010/10/18 21:02
EverestoSama
Member



Joined: 2010/5/17
Posts: 1175


 Re:

Quote:
There will be more.



How true.

 2010/10/18 23:08Profile





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