Carnival Cruise Lines: Gambling mecca or world’s largest floating Bible study?

“Feeling lucky? We’ll bet you have the time of your life in one of our friendly casinos, some of the largest at sea. Slot machines, black jack, poker, roulette and more, make a fantastic time in a Carnival casino a sure thing. Vegas-style shows, piano bars, night clubs, and friendly casinos are just a few of the reasons Carnival’s fleet of floating resorts are known as the ‘Fun Ships.’”

The above is taken from www.carnival.com and we must ask ourselves if the obvious promotion of gambling, alcohol and Vegas nightlife boasted of by this company matches the following investment policy of our Annuity Board.

The Annuity Board has stated that ‘‘investments are prohibited in any company that is publicly recognized as determined by the Annuity Board as being in the liquor, tobacco, gambling, pornography or abortion industries, or any company whose products, services, or activities are publicly recognized as being incompatible with the moral and ethical posture of the Annuity Board.”

It seems clear to me that Carnival violates more than one of these guidelines, so why are the retirement dollars of countless pastors and other church workers being invested in such a company? Another question is: What steps are being taken to insure that this is not happening with other investments?

I appreciate the work that the Board does but I hope that you will join me in seeking that this problem is corrected and steps taken to avoid a similar situation in the future.

Editor’s Note: On May 18 Annuity Board President O.S. Hawkins responded to concerns about the Board’s investing in Carnival Cruise Lines and other companies that may have questionable practices. The story was reported in Baptist Press and can be read in its entirety at www.bpnews.net/bpnews.asp?ID=18307.

Here is a synopsis of Hawkins’ response:

“We want Southern Baptists to be aware of the facts regarding the issue and also to remind them of our investment policy. The Annuity Board is very much in sympathy with those who have concerns related to investing in certain companies … There are hundreds of companies on our restricted list in which we do not invest. We are continually doing due diligence as we monitor and evaluate companies in regular meetings.”

“Since the assets managed by the Annuity Board are retirement funds [401(k), 403(b), etc.] they are subject to standards that do not apply to other investment organizations. The assets are not Cooperative Program monies but represent the individual accounts of approximately 140,000 retirement plan participants.

“It is virtually impossible for anyone to function in our society today without carrying on relationships with businesses that profit from endeavors and relationships one might find objectionable.

For example:

• Many major hotels provide access to alcoholic beverages in the lobby and in mini-bars in each room. They provide options for television programming which most Southern Baptists would not choose. Yet, we as Southern Baptists patronize and spend our money at these hotels on virtually every trip we take including the Southern Baptist Convention.

• Southern Baptists continue to fly on airlines that serve and profit from alcohol even though it is against their moral convictions.

• We shop in grocery stores where beer, wine and tobacco are sold.

• We buy gasoline at convenience stores where beer is sold and in some cases lottery tickets are available.

• Someone might say, “I will not invest in any company on the stock exchange and instead just put my money in a savings account at the local bank.” And, in many cases the bank loans the money to a liquor store or some other objectionable business going in down the street.

• If those who have zero tolerance with investments are consistent and follow this philosophy to the “nth” degree none of them would be flying on airlines, staying in hotels, eating in restaurants, etc. It is the patronage of the companies, more than stock ownership that enables an enterprise to prosper as a going concern.

“One could argue that Carnival is recognized by Southern Baptists as being the world’s largest floating Bible Study since many of our most respected SBC leaders and former Presidents of the SBC have Bible Study cruises on Carnival which accommodate thousands of Southern Baptists.

We wish hotels, airlines, cruise ships, etc. did not serve alcohol and the like but if we start down that road there is no end and the result would be little possibility of having any facsimile of a well-diversified retirement portfolio.”

The Annuity Board is committed to its origin and identity as an entity of the Southern Baptist Convention. As God knows our hearts, we take these issues very seriously. As to Carnival, we are continuing to research and evaluate it at the present time,” concluded Hawkins.