Ken Ham's "Ark Park" project on verge of collapse

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Ken Ham's "Ark Park" project on verge of collapse

#1  Postby Shrunk » Jan 10, 2014 4:59 pm

http://fatlip.leoweekly.com/2014/01/06/ ... l-himself/

Bloomberg reported on Friday that creationist ministry Answers in Genesis must sell $29 million in unrated junk bonds by Feb. 6, or else their entire bond structure will collapse for the construction of Ark Encounter — the proposed evangelical tourist attraction in Grant County that will feature a giant boat telling the story of how a 600-year old man rounded up dinosaurs and fire-breathing dragons onto Noah’s Ark a few thousand years ago.

The Bloomberg story cites an email from AiG’s overlord Ken Ham to potential investors, warning that the clock is ticking and asking “Will you please step out in faith with us?” Considering these unrated junk bonds are similar to lottery tickets, I’d say that “faith” is certainly at play here.


The story then quotes an email Ham sent out as a final plea for funds:

Please be aware that the associated complications and struggles have been beyond our control. The battles were another reminder of the truth of Ephesians 6:12: “For we do not wrestle against flesh and blood, but against principalities, against powers, against the rulers of the darkness of this age, against spiritual hosts of wickedness in the heavenly places.”

As you have read in some of my prior emails, many challenges and road blocks came up as we worked through the stages of the bond offering and the first closing. From atheists attempting to register for the bond offering and disrupting it, to secular bloggers and reporters writing very misleading and inaccurate articles about the bonds, to brokerage firms saying “yes” but after reading these incorrect reports saying “no” in allowing the Ark bonds into their client accounts—the obstacles were numerous and disruptive. Frankly, it has been an extremely stressful and frustrating time for all of us.


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Re: Ken Ham's "Ark Park" project on verge of collapse

#2  Postby theropod » Jan 10, 2014 5:01 pm

One would think gawd would shower a few pennies from heaven.

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Re: Ken Ham's "Ark Park" project on verge of collapse

#3  Postby Onyx8 » Jan 10, 2014 5:20 pm

What, Ken doesn't have $29m to throw at his own gig? Oh man of little faith.
The problem with fantasies is you can't really insist that everyone else believes in yours, the other problem with fantasies is that most believers of fantasies eventually get around to doing exactly that.
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Re: Ken Ham's "Ark Park" project on verge of collapse

#4  Postby Rachel Bronwyn » Jan 10, 2014 5:23 pm

I don't understand - is the Ark Park part of the Creation Museum? Is the Creation Museum not doing terrible well? I was sure it was. If it's bringing in money, I don't understand how they can't finance the Ark Park. $29m is a lot of cheddar for certain but a for-profit tourist attraction with thousands of adoring local fans and loons from all over the world making pilgrimages to it can make that pretty quick.
what a terrible image
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Re: Ken Ham's "Ark Park" project on verge of collapse

#5  Postby CADman2300 » Jan 10, 2014 5:28 pm

:crazy: Sorry Hammy but your precious Yahweh isn't going to drop down from the heavens and shower you with money, no matter how you delude yourself with the ironic notion that secularists are lying about you.
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Re: Ken Ham's "Ark Park" project on verge of collapse

#6  Postby CADman2300 » Jan 10, 2014 5:42 pm

Rachel Bronwyn wrote:I don't understand - is the Ark Park part of the Creation Museum? Is the Creation Museum not doing terrible well? I was sure it was. If it's bringing in money, I don't understand how they can't finance the Ark Park. $29m is a lot of cheddar for certain but a for-profit tourist attraction with thousands of adoring local fans and loons from all over the world making pilgrimages to it can make that pretty quick.

Attendance at his "museum" has been at an all-time low these last few years, so to shell out 29 million at this point would set him back for years with little or no hope for financial recovery. Remember that to a guy like Ham, religion is all about business and profits, not about morality and prophets. Don't forget that he did try to get the Kentucky state to pay for some of this project through tax rebates back when the cost was at a much-higher 172 million.
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Re: Ken Ham's "Ark Park" project on verge of collapse

#7  Postby laklak » Jan 10, 2014 5:45 pm

The museum has been in financial straits for a couple of years now, but apparently they've sold out the "debate" between Hambone and Bill Nye.
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Re: Ken Ham's "Ark Park" project on verge of collapse

#8  Postby Blackadder » Jan 10, 2014 6:15 pm

So the Ark project is sinking? I'll raise a glass to that.
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Re: Ken Ham's "Ark Park" project on verge of collapse

#9  Postby trubble76 » Jan 10, 2014 6:25 pm

The lord moves in mysterious ways. :lol:
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And nothin' ain't worth nothin' but it's free.

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Re: Ken Ham's "Ark Park" project on verge of collapse

#10  Postby Supporting Caste » Jan 10, 2014 6:32 pm

Blackadder wrote:So the Ark project is sinking?

:lol:
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Re: Ken Ham's "Ark Park" project on verge of collapse

#11  Postby lyingcheat » Jan 10, 2014 7:03 pm

Shrunk wrote;
The story then quotes an email Ham sent out as a final plea for funds...

Oh Ham of little faith... wasting time sending out emails.

He should just pray for investors to march up two by two
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Re: Ken Ham's "Ark Park" project on verge of collapse

#12  Postby aban57 » Jan 10, 2014 8:42 pm

Where did Noah find $29M to build his ark ?
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Re: Ken Ham's "Ark Park" project on verge of collapse

#13  Postby theropod » Jan 10, 2014 8:58 pm

Enron stock?

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Re: Ken Ham's "Ark Park" project on verge of collapse

#14  Postby Onyx8 » Jan 10, 2014 9:29 pm

Floated some stock?
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Re: Ken Ham's "Ark Park" project on verge of collapse

#15  Postby james1v » Jan 10, 2014 9:58 pm

I wonder if hes got a few million stashed "resting" in an account somewhere. I dont think this guy will ever be poor.
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Re: Ken Ham's "Ark Park" project on verge of collapse

#16  Postby CADman2300 » Jan 18, 2014 11:06 pm

According to this article: http://www.slate.com/articles/health_an ... _park.html
Ham tried to get the financial ball rolling by selling high-risk bonds to investors. Only problem is that they're written so that the investors can never get their money back if they decide to pull out, and if the theme park crashes and burns they lose their entire investment. That's why they're called junk bonds.

Under Obamacare, Ark Encounter would have been required to cover Plan-B contraceptives for its employees, and since this is a fundie organization we're dealing with, it comes as no surprise that they were against that.
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Re: Ken Ham's "Ark Park" project on verge of collapse

#17  Postby Alan C » Jan 19, 2014 2:45 am

Oh Canned Ham, I'm strangely unsympathetic.

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Re: Ken Ham's "Ark Park" project on verge of collapse

#18  Postby Darwinsbulldog » Jan 19, 2014 2:55 am

james1v wrote:I wonder if hes got a few million stashed "resting" in an account somewhere. I dont think this guy will ever be poor.


In terms of intellect and honesty, he is one of the poorest people alive.
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Re: Ken Ham's "Ark Park" project on verge of collapse

#19  Postby Shrunk » Jan 19, 2014 1:25 pm

CADman2300 wrote:According to this article: http://www.slate.com/articles/health_an ... _park.html
Ham tried to get the financial ball rolling by selling high-risk bonds to investors. Only problem is that they're written so that the investors can never get their money back if they decide to pull out, and if the theme park crashes and burns they lose their entire investment. That's why they're called junk bonds.


So what happens to the investors' money when this project collapses?
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Re: Ken Ham's "Ark Park" project on verge of collapse

#20  Postby Calilasseia » Jan 19, 2014 9:19 pm

Presumably, Ham and his organisation pockets the lot.
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