The Archdiocese's operating budget has been slashed by $14 million over the past three years, and we still have an annual $10 million deficit. Subsidies to poor parishes, ethnic apostolates, formation programs, and Catholic schools all are affected. Many parishes are unable to pay their bills. The pension plans for laity and clergy are in danger. $35 million borrowed three years ago to pay operating expenses is exhausted and needs to be repaid. Many communities who meet their expenses do so by selling land and buildings and spending down savings. (In the last nine years parishes have sold 150 pieces of property mostly to pay bills). Some people think that reconfiguration will mean a great surplus of money for the Archdiocese. Unfortunately, this is not true. I have asked the Finance Council to work on a strategic plan for the Archdiocese which I shall share with you. I am committed to financial transparency and to using our human and financial resources for the mission of the Church.The Finance Council that the Archbishop refers to includes Peter Lynch (famed for the Fidelity Magellan Fund), Thomas Flatley, and other prominent and finance-savvy Bostonians, as well as the CFO of the Archdiocese.

Contemplate this. Faced with a financial crisis, the Archbishop engages Peter Lynch and Co. to develop a strategic financial plan. The haughty pukes at the Boston Globe do not deign to report this fact to their readers in the context of a story about...the Church's financial crisis!

Who is being more straightforward in reporting this financial crisis, the Archbishop or the Boston Globe?

From Squaring the Boston Globe