How long before The Watchtower goes bankrupt and goes away?
Does anyone know how The Watchtower is doing financially?
How long before The Watchtower goes bankrupt and vanishes?
by VM44 50 Replies latest watchtower scandals
-
-
OnTheWayOut
No, I don't know. I imagine the people who do actually know are not on here. They don't necessarily believe in WTS, but the people who "know" how they are doing have a strong interest in them and wouldn't risk it on JWN or purchasing CRISIS OF CONSCIENCE.
I will give you my opinion, and it's bad news. They have tons of Kingdom Halls to sell. They haven't really cut back on District Conventions much. Those mean they have huge amounts of money tied up in properties and huge amounts of money potentially coming in every year. Further, as long as they are still printing something, it's not losing money- at least not overall.
There is hope. If they lose in France and have to pay out millions, perhaps other countries will follow suit. That's not much of a hope. Further, there may be more successful suits on their pedophile issue. I have more hope for that, but that might only reach several tens of millions or even up to a couple hundred million dollars, not billions. It's possible that the remainder of their Brooklyn properties could pay for the remainder of their lawsuits. Afterall, they will dry up eventually. Another hope after that is from blood-issue lawsuits. I think they moved slow enough away from that so they won't see an avalanche. One guy in Canada has not done so well with that. People without personal resources cannot find lawyers to take that kind of case in hopes that it will one day pay off. (But they will do that on the pedophile cases, as WTS has paid off before.)
Best advice- accept WT literature from any JW you encounter and throw it away. But I cannot even bring myself to do that.
-
cantleave
They are extremely asset and cash rich. They won't be brought down by financial problems.
-
Bangalore
I guess they have billions in assets.
Bangalore
-
Inside Man
When all the elders wake up and stop supporting there cause or stop looking after there sheep or defending the WTS then they will be weakened. They have to much money/assets to fold up and vanish. But the chances of all the elders waking up at the same time and causing a mass exodus is very unlikely.
-
asilentone
They never will be broke unless something very drastic happens to them ex:France
-
St George of England
Not in my lifetime.
I do not see the WTS folding any time soon. They have plenty of diverse assets, they are extending Paterson Educational Center, they are planning to build a new cult HQ at Warwick. Not the actions of a company on its last legs.
Selling off Bethel homes etc is just good business sense. They may not know anything about the Bible but they a thing or two about money!
George
-
Evidently Apostate
bankruptcy is not a very likely scenario. they would have to experience the fulfillment of thier own prophecy. a few nations would have to realize the danger they put their followers in and a consorted legal crackdown(i.e. giving those directly hurt by the org a legal right to sue, taxation as a corporation) on fundementalist behavior on a national scale would cause a falling away of many and the diehards would then declare "the great tribulation is upon us". after a few years of wailing and no divine intervention the fundies would start to disband.
-
Mickey mouse
I think they are asset rich but cash poor.
'Simplifications' in the past few years hint that they have been trying to reduce their overheads.
Once the Brooklyn properties are sold I'm sure they'll be fine for cash for a few years, then maybe they'll introduce tithing.
-
mamalove
My guess is they have a great deal of a "cushion" which generates sizable interest. If they can keep up their repeat expenses with donations and the occasional liquidation, it seems they cycle their worth and wouldn't suffer too bad.
When I was a kid, I used to think that Jehovah must magically put money in the society's bank account because I could not fathom how a room full of 2000 people could raise $14k in donations.....