Can the billion dollar WTS corporations be bought or sold?

by RULES & REGULATIONS 2 Replies latest watchtower beliefs

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  RULES & REGULATIONS

  We finally see that things are not going too well for the WTS these days. They just settled sex abuse cases in their congregations,layed off members from the Bethel, the AWAKE is now monthly,and the WATCHTOWER will have 2 versions.We also see that donations are down,the selling of some New York real estate properties,and that the internet is a big thorn on their sides and not going away.

  If things get worse,can the WTS start selling their corporations? If they can sell off their real estate,why couldn't they sell their book publishing divisions? Couldn't they also sell all of the Kingdom Halls? Who would benefit if there are no stock holders or real owners?
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  Mum

  Interesting questions. I heard a rumor (not verified) a few years back that there was one member or maybe just a few members of the Shaker religion left and that this person or these few were set to inherit all of the communes the Shakers ran back in their 19th-century heyday.

  Maybe there is a method the the GB's madness in driving away the best, brightest and most thoughtful of their adherents. Then the few, by default, become the only ones left with any interest in the material assets of the corporations or whatever they're called.

  They could certainly sell the equipment used "in the making of many books" the devotion to which is "wearisome to the flesh" and the brain and go out of the publishing business in favor of other pursuits. If they could sell real estate, why not everything else?

  All of the above is simply speculation. Attorneys, accountants and others smarter than yours truly would need to work through this scenario.

  Regards,

  SandraC
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  The wanderer

  Dear Rules:
  "If things get worse,can the WTS start selling their corporations? If they can sell off their real estate,why couldn't they sell their book publishing divisions? Couldn't they also sell all of the Kingdom Halls? Who would benefit if there are no stock holders or real owners?"-Rules & Regulations
  
  Interesting questions no doubt. You have noticed
  that the Watchtower Society has not gone "public"
  because they do not have shares or share holders.
  
  Could they sell off their book publishing divisions?
  
  Absolutely, they recently sold a major warehouse in
  Brooklyn, New York that was used for proclaiming the
  "good news."
  
  Could they sell the Kingdom Halls?
  
  I would imagine if they have the deeds to the property
  and the property is free and clear of any encumbrances.
  
  Who would benefit if there are no stock holders or real
  owners?
  
  I would bet the accountants and attorney's are creating
  a "golden" parachute similar to what major corporations
  do to protect their executives in a fallout situation.
  
  Do I think the Watchtower is going to bail out soon?
  
  No, with their income projections, securities and real
  estate that they own, they could hold out for years.
  
  Respectfully,
  
  Richard