Saturday, August 30, 2008

Southwest Museum/Autry Controversy: Financial Bamboozle (Are The People Geting Screwed Again?)

=Full Post

From Zuma's Inbox: ZumaDogg@Gmail.com.

Has anyone been to the
Friends of the Southwest Museum site lately?

Go there and you'll see an excellent piece of work uncovering the Autry's true and actual assets at the time they signed the merger agreement with the Southwest. Turns out their touted $100 million (with which to build their new campus, relocate Southwest artifacts, et al) is little more than a
promissory note to be given only on Mrs. Autry's death. The Autry Foundation has little more in current assets than the Southwest ever had.

According to the study's author Mr. Jack B. Siegel of Charity Governance
consulting, LLC, at the time the Autry presented its merger plans to the Southwest Board, the California State Attorney General, and others, it was not much better off than the Southwest, once the $100 pledge was removed from their books. In light of that bit of news, John Grey's statement in the L.A. Weekly article is truly EXTRAORDINARY: