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 the temporary shutdown

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Join date : 2011-06-10

PostSubject: the temporary shutdown    Fri Nov 18, 2011 10:38 am

The DLM leadership had expected that a huge attendance would be followed by generous donations.[44] Millennium '73 was free,[51] unlike other DLM festivals that charged sizable fees.[123] Despite fundraising before the event, lower than expected attendance and mismanagement left the DLM in serious debt, estimated at $682,000.[47][124] Individual members also carried debts incurred for traveling expenses.[2][125]

The festival was financed with short-term credit that began coming due right after the event.[119][126] Seeking payment, creditors, including the Astrodome management, pursued the DLM and repossessed property belonging to the mission.[127] By mid-1974, NBC reported that about $150,000 was still owed and that 25 vendors had received no payments at all.[128] Members of the DLM took on extra work in order to raise money at Maharaj Ji's suggestion.[3][120][129] The debt forced the sale or closure of the DLM's printing and other businesses, the temporary shutdown of their newspaper and magazine,[100][130] the disbanding of Blue Aquarius,[93] and the shelving of new initiatives.[122] In 1976, a DLM spokesman said that the debt had been reduced to $80,000 and that the mission was on a sound financial footing.[105]

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