Church stock - cougarguard.com — unofficial BYU Cougars / LDS sports, football, basketball forum and message board

Cali Coug · 06-14-2006, 06:11 AM

I have heard countless times that the church owns substantial amounts of stock in Walgreens and Coke. If you look at their SEC filings though, the church (or any recognizable entity of the church) is not listed as being a 5% shareholder or greater (which is required by the SEC).

Is this just a Mormon rumor or does the church intentionally own less than 5% so they don't have to be disclosed?

creekster · 06-14-2006, 06:20 AM

I think some of this is a rumor, but I also suspect that the church would not hold the stock in its name but through some sort of holding company, the name of which would not necessarily be recognizeable. You would probably know more about htis than me.

Robin · 06-14-2006, 01:19 PM

Here is the snopes answer:

False

http://www.snopes.com/cokelore/mormon.asp

Cali Coug · 06-14-2006, 02:51 PM

Quote:

Originally Posted by creekster

I think some of this is a rumor, but I also suspect that the church would not hold the stock in its name but through some sort of holding company, the name of which would not necessarily be recognizeable. You would probably know more about htis than me.

All of the 5% shareholders are individuals with the exception of a company owned by Warren Buffett and Suntrust Bank.

Cali Coug · 06-14-2006, 02:54 PM

Quote:

Originally Posted by Robin

Here is the snopes answer:

False

http://www.snopes.com/cokelore/mormon.asp

That is very interesting. The church certainly could own less than 5% (which means they aren't disclosed), and that snopes article states that 1% of stock is worth over a billion dollars.

Even if they only hold 1%, they would be doing pretty darn good.

ute4ever · 06-14-2006, 04:06 PM

Despite what Snopes says, I have friends who work in the church office building who have said yes they do in fact own stock. Apparently it was acquired as payment for some debt years ago, and they never sold it. Whether it is 0.001% or what, I do not know.

TyronneBiggums · 06-14-2006, 06:34 PM

Maybe it's beacase of all the Diet Coke that Mormons drink they thought it would be agood investment to keep it.

Have you ever seen a group drink as much DC as Mormoms do? They drink it down like it's goin' outta style...

Filsdepac · 06-15-2006, 02:25 AM

I don't know about Diet Coke, Tyronne, as it seems everyone drinks that (i'm in California). However, I golfed with Golf1 (on cougarboard) and he said that something like 15% of Cherry Coke is sold in Utah. I can't remember the exact percentage, but it was a lot higher than Utah's proportianate population. Anyway, he works for Coke in Finance so he might know the answer to the rumor as well.

06-14-2006, 06:11 AM	#1
Cali Coug Senior Member Join Date: Dec 2005 Posts: 5,996	Church stock I have heard countless times that the church owns substantial amounts of stock in Walgreens and Coke. If you look at their SEC filings though, the church (or any recognizable entity of the church) is not listed as being a 5% shareholder or greater (which is required by the SEC). Is this just a Mormon rumor or does the church intentionally own less than 5% so they don't have to be disclosed?

06-14-2006, 06:20 AM	#2
creekster Senior Member Join Date: Aug 2005 Location: the far corner of my mind Posts: 8,711	I think some of this is a rumor, but I also suspect that the church would not hold the stock in its name but through some sort of holding company, the name of which would not necessarily be recognizeable. You would probably know more about htis than me. __________________ Sorry for th e tpyos.

06-15-2006, 02:25 AM	#8
Filsdepac Junior Member Join Date: May 2006 Location: Mountain View, CA Posts: 68	Mormons and Coke I don't know about Diet Coke, Tyronne, as it seems everyone drinks that (i'm in California). However, I golfed with Golf1 (on cougarboard) and he said that something like 15% of Cherry Coke is sold in Utah. I can't remember the exact percentage, but it was a lot higher than Utah's proportianate population. Anyway, he works for Coke in Finance so he might know the answer to the rumor as well.

06-14-2006, 01:19 PM	#3
Robin Senior Member Join Date: Jan 2006 Posts: 961	Here is the snopes answer: False http://www.snopes.com/cokelore/mormon.asp

06-14-2006, 04:06 PM	#6
ute4ever I must not tell lies Join Date: Aug 2005 Posts: 5,103	Despite what Snopes says, I have friends who work in the church office building who have said yes they do in fact own stock. Apparently it was acquired as payment for some debt years ago, and they never sold it. Whether it is 0.001% or what, I do not know.

06-14-2006, 06:34 PM	#7
TyronneBiggums Junior Member Join Date: Jun 2006 Posts: 143	Maybe it's beacase of all the Diet Coke that Mormons drink they thought it would be agood investment to keep it. Have you ever seen a group drink as much DC as Mormoms do? They drink it down like it's goin' outta style...