This was a huge problem because the Iraqi artifacts had unclear origins, meaning that there was a very real chance that they had been looted from the country at some point in its recent troubles. In short, what happened was that Hobby Lobby spent $1.6 million purchasing Iraqi artifacts from dealers situated in the United Arab Emirates in December of 2010. Purchased Iraqi Artifacts with Uncertain Origins The connection between Hobby Lobby and the Museum of the Bible has been serious cause for scandal in recent times. For example, his son Steve Green is both the founder and the funder of the Museum of the Bible in Washington, D.C., which is notable because he is also the President of Hobby Lobby at this point in time. Speaking of which, David Green’s beliefs are by no means limited to him. In his case, his opposition was based on the fact that it required health insurance companies to include so-called morning after pills in their health coverage. For example, David Green has spoken out against the Affordable Care Act, which might be more familiar to a lot of people under the nickname of Obamacare. As a result, it should come as no surprise to learn that he has been rather political in public. Half of Pretax Earnings Go to Evangelical Ministriesįor example, David Green has made a choice to commit half of Hobby Lobby’s earnings before the calculation of taxes to not one but rather a number of evangelical ministries, which is a huge number. David Green has stated that his business is built on Biblical principles, which is important because that has had a fair amount of influence on Hobby Lobby. In contrast, Mart is a businessperson who has chosen to run his own business. Both Steve and Darsee are involved in the running of Hobby Lobby. In total, David Green and his wife Barbara have three children named Mart, Steve, and Darsee. The founder of Hobby Lobby is a man named David Green. There are both upsides and downsides to this kind of arrangement, with an excellent example being how the core shareholders sacrificed ease of raising capital in exchange for increased control over how the corporation is run. Instead, those shares are held by a small number of shareholders. This means that the corporation’s shares are not bought and sold on a public stock exchange. Hobby Lobby is what is called a private corporation.
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