On Tuesday of Holy Week, the Lutheran Church- Missouri Synod canceled the popular radio program "Issues, Etc." from KFUO radio. This station in St. Louis is owned and operated by the LCMS. This program had a world wide following via podcast. David Strand, who works for the synod, has been the primary spokesman on this.
According to Strand, the program was losing too much money for the synod to continue funding it. But this doesn't make any sense at all. The new program replacing it on the schedule, creatively called "The Afternoon Show," costs money to produce as well. "Issues, Etc." generated over $900k in revenue per year. This is after the LCMS Foundation siphoned off a 38% fundraising service fee. The new program, on the other hand, is unlikely the generate much revenue at all. This is especially so since the show is not podcast. A great many "Issues, Etc." donors were from around the country. So here is what Strand is asking us to believe: The new show, which will generate no revenue of its own, will cost about a million dollars less per year to produce. I don't think that even the Enron accountants could pull that one off. In reality, the cancellation of "Issues, Etc." will increase the expenses of the synod. It doesn't take a Wall Street wiz to figure that out.
Since David Strand is such a fiscal genius, I wonder if I could interest him in some penny stocks?