Ken Ham’s Ark Bonds — Deadline Today

Noah's Ark (by Edward Hicks, 1846)

Noah’s Ark (by Edward Hicks, 1846)

You already know about the unrated municipal bonds being issued to finance the proposed Ark Encounter project, which will be operated by a company controlled by Answers in Genesis (AIG). AIG is the on-line ministry of Ken Ham (ol’ Hambo), the ayatollah of Appalachia. It also owns and operates the infamous, mind-boggling Creation Museum

Our last report on this was our 14 Jan 2014 Update. We had previously been informed by Bloomberg that:

A Kentucky theme park to be built around a full-scale replica of Noah’s Ark may sink unless investors purchase about $29 million in unrated municipal bonds by Feb. 6.

That’s today, so this is a tough situation for ol’ Hambo. If enough of those bonds aren’t sold by today, then all the money from bonds that actually were sold must be refunded. Bloomberg also quoted Hambo as blaming his problems on the atheists, who were somehow disrupting the bond sale.

We keep looking, but news about this subject has been very scarce. In the world of finance, Hambo’s deal is small change, so it’s understandable that no one in the financial press is paying much attention. What we find most informative, however, is the lack of information coming from ol’ Hambo and his organization. They’re probably legally prevented from saying much during the sales period, but one would think that if he had already met the goal he’d be shouting about it. But so far … nothing.

Just before posting this, we checked again for news about Hambo’s bonds. There isn’t any. As soon as we learn something, we’ll let you know; but for the moment, it looks like Hambo’s Ark is evolving into a shipwreck. Maybe not — we’ve been wrong before. Stay tuned to this blog!

Copyright © 2014. The Sensuous Curmudgeon. All rights reserved.

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28 responses to “Ken Ham’s Ark Bonds — Deadline Today

  1. Where did Bloomberg mention Hambo saying atheists are to blame? I really want to read that.

  2. Perhaps Bill Nye helped to sink Hambo’s boat.

  3. Justin asks: “Where did Bloomberg mention Hambo saying atheists are to blame?”

    It’s in the earlier post, just follow the link. If it’s in the one before that, there will be a link to it.

  4. IIRC, when Ole Hambo first announced the debate (on his Facebook page, natch), the intention was to charge for subscriptions to the live feed–to add to the revenue he was planning on making from downloads/DVD sales after the event.

    But that all came unstuck and the live streaming was free. Plus, some reports (like the not-always-reliable Daily Mail (UK) report that:

    Nye, popular for his 90s TV show ‘Bill Nye the Science Guy’, agreed to the debate and the museum paid his estimated $50-75,000 speaking fees.

    The museum charged $25 per ticket which didn’t come close to covering the cost of the debate, though they hope to make up money be selling DVDs of the event.

    If Hambo thought the debate was going to bring in big bucks for the Ark, he may have to think again. Or pray even harder 🙂

  5. You know, it’s funny, but I don’t remember my Sunday school classes talking about Noah having to raise money to build an Ark, and remember, his was sea worthy!

  6. Assuming they sold 800 tickets at $25 each, they pulled in $20,000 in revenue. (I’m guessing at least 100 tickets were given away to friends, journalists, etc) From that revenue they would have paid the moderator’s fee and travel expenses, the media / IT professionals, security staff and other support people who worked that evening. Even without paying Nye a speakers fee, they are probably already in the red. Given that the video can be streamed free on the web, it’s unlikely that they will sell many DVDs of the event, or given Ham’s performance, that they will want to. While they may never admit it, this has to be viewed as a huge mistake within AIG’s inner circles.

    What they might try to do is to produce a video about the debate – featuring some of their so-called “scientists” providing rebuttals to Nye’s points, and perhaps having Ham elaborate on his own remarks from an environment that portrays him as an authority figure – like an office with bookshelves behind him, or in his planetarium, or whatever. If they do, though, it will sell about as much as any other video they produce – certainly not in the huge quantities they were hoping to distribute following the debate.

    I really hope Nye was paid a huge speakers fee.

  7. Stephen Kennedy

    It is about 11:35 AM here on the West Coast and there is nothing new on the AIG website or their Facebook page. Hambo will not mention the bonds because he does not want the faithful to know about them. What he would say if the bond issue succeeded is “We now have the funds to begin construction on the ark encounter in March for opening in April 2016”. The fact that there is nothing on AIG website could indicate that they did not make it.

  8. Ed suggests AiG produce a video featuring Ham elaborating on

    his own remarks from an environment that portrays him as an authority figure – like an office with bookshelves behind him, or in his planetarium, or whatever.

    The Discovery Institute have a pretty snazzy green-screen lab that would perfect for this!

  9. What’s this “the ayatollah of Appalachia”? Cincinnati is west of the Appalachians and the Creation Museum is west of Cincinnati. Sure, it’s all flyover country but, hey. It’s an Appalachian thing. You wouldn’t understand.

  10. Stephen Kennedy

    It is after 1:00 PM in California and still no update from yesterday. Hambo and his gang nearly always have some new piece of manure posted on their site by now. Their Facebook page just has a very predictable attack on Pat Robertson.

    Financial markets are now closed on the East Coast. If funding for the ark encounter had been accomplished, there should be an announcement by AIG on the start of construction. The fact they have posted nothing could indicate that they are dealing with some sort of adverse development and are trying to figure out how to spin it.

  11. Still Thursday in Europe, barely.
    Isn’t the counter stuck at 14m good enough?
    Btw, is it common to speak about 10$/mo donations, leaving aside the number of months required to find a beam for your brother’s eye? Nearly missed the peg in my own 🙂

  12. Mnpf, no wonder it failed: the family pass easily allows “parent/guardian(s)” to include any abominable combination – not even mentioning humans 😉

  13. “it looks like Hambo’s Ark is evolving into a shipwreck”
    Absolutely not. How dare you to use the evil e-word!
    No, it’s crystal clear. Ol’ Hambo always has praised his god for enabling his megalomaniac projects. So Ol’ Hambo’s god finally has decided that enough is enough – there are many other Ark-replica’s in the world.
    Sinner Ol’Hambo should repent. He knows it, hence his lacklustre performance.

  14. Ah – Ol’ Hambo doesn’t take Pat Robinson’s criticism very well.

    “But perhaps the most bizarre arguments against the debate came from a professing Christian.”
    Unrest in creacountry – it can’t get much better.

  15. Stephen Kennedy

    It is a strange coincidence that on the day that is the deadline for ark encounter bond sales, for the first time ever, the AIG website was not updated. I guess there is something that is really distracting them. You would think that two days after the big debate they would still be spinning on their website.

  16. Isn’t AiG required at some point to make an announcement about the status of the bond sale?

  17. I wouldn’t be surprised if Ham is escaping the jurisdiction.
    He’s collected at least a couple of million in donations that will stay with him. Collected even more money with his questionable bond sales.

    If he runs now he could live comfortably till the end of his days.

    as to the debate. I think this debate has done more damage to the creation museum than some people think. Bill did provide them some free publicity. However, the debate also has opened up rifts within the fundamentalist community.
    Kam Ham has managed to once again piss off other Christians but this time he did it on the national stage and they have not been afraid to tell him.

  18. Spector567 says: “Collected even more money with his questionable bond sales. If he runs now he could live comfortably till the end of his days.”

    I assume the underwriters have the bond money. Hambo won’t get it unless the sale is successful.

  19. Stephen Kennedy says: “It is a strange coincidence that on the day that is the deadline for ark encounter bond sales, for the first time ever, the AIG website was not updated.”

    They finally posted some stuff around 5 in the afternoon, Kentucky time. Nothing about the bond sale.

  20. What this debate has taught me is that a lot of fundies dislike Ken Ham as much as we do. We should’ve known. He has the charm of a monitor lizard…

  21. Got the feeling that the debate was Hambo’s Hail Mary and it fell real short.

  22. If the Ark Park falls through and they’re compelled to return those $millions and lifetime boarding passes to nowhere, this should be an annual holiday.

    Arksmas? Nyeday?

    Curm should do a Creative Challenge to name the holiday.

  23. Diogenes hopes for a new annual holiday:

    Arksmas? Nyeday?

    How about: The Great Debarkle?

  24. Since it is early February: Groundark’s Day. Fitting because it never got off the ground. Nor was it ever intended to leave the ground.

  25. Diogenes suggests: “Arksmas? Nyeday? Curm should do a Creative Challenge to name the holiday.”

    No need. When grieving creationist droolers wander over the ruins of Hambo’s once-mighty works, they will whisper: “The end was Nye.

  26. I think this might be relevant (but am not certain): WILLIAMSTOWN KENTUCKY INDUSTRIAL BUILDING REVENUE TAXABLE-CROSSWATER CANYON PJ – 970350AY0. I do know that ‘Crosswater Canyon Inc’ is the entity AiG created for the Ark Project ‘flotation.’

    The site needs a subscription (which I neither have nor want) for full details, but does show the last five transactions.

    Can anyone shed any light here?

  27. waffle-eater

    so then any news on the ark is it dead in the water?