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Wow! What was the point of this public questioning of a local pillar’s investment practices? To state (by referencing your “financial pros”) that Lilly Endowment is gambling rather than investing is unprofessional journalism. Again, what is the point? Do you want local citizens and/or leaders to protest Lilly Endowmwment’s strategies?
Whew!!
If the Endowment is “important” to Indianapolis’ future success, then retaining the Lilly corporate headquarters is an order of magnitude more important. There are thousands and thousands of high-paying jobs in Indianapolis directly with Lilly and its contractors, and the people with those jobs support United Way, restaurants, car dealers, home builders and remodelers, financial institutions, lawyers, investment brokers, accountants, retailers, and a host of other professional and small business folks in Central Indiana. Then there are the payroll taxes paid to the state and counties.
The Endowment’s large holding helps keep the company independent, which is something far more important than diversifying its investment holdings. Indeed, the value is incalculable. Indianapolis with a smaller but still well-funded Endowment would survive. A Lilly takeover/buyout would be a bad, bad thing, far worse than if the Endowment’s value declined a few hundred million.