Their biggest problem in my opinion is not financial, it is spiritual bankruptcy.
They have lost the plot and this is due mainly to the internet.
George
Is Watchtower Having Financial Problems?
by 2tone 30 Replies latest jw friends
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skeeter1
WTS has a ton of money, and will have even more so as these NYC buildings sell.
I think the WTS has someone at the top who skims all the money off the Society and that person is very greedy. There's a Jim Baker inside, or so it seems to me. And, now that the WTS is losing members/not gaining members/members dying off; that Jim Baker type person is lurching to get his hands on the cash before the WTS consumes it all.
Skeeter
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thecrushed
uuuhhhhhm at the meeting the other day the Building committee announced to use that we would be recieving a donation servey form that we should fill out and turn into the elders to estimate how much everyone was able to give to the fund for building a new assembly hall in our area. I'm not sure whether this will be anonomous or not but the way I see it you might as well pass around a collection plate. Talk about a guilt trip!
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blondie
They have cash flow problems. Property rich, cash poor.
I was under the impression that assembly halls are financed by the congregations not the WTS if they can avoid it. Since 2008 the WTS has not charged interest.
Ever since their charging the rank and file for publications ended in 1990, the WTS lost its biggest cash cow.
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Marvin Shilmer
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Last I heard the Watchtower Society was flush with cash. This was only about two years ago and came from a person in treasury. Changes in the works are to keep it that way. The expansion at Warwick, for example, is to get out of the complex of buildings in Brooklyn that are approaching a tipping point in terms of maintenance cost.
Marvin Shilmer
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skeeter1
"At the meeting the other day the Building committee announced to use that we would be recieving a donation servey form that we should fill out and turn into the elders to estimate how much everyone was able to give to the fund for building a new assembly hall in our area"
Crushed,
Can you post a copy of the form when you get it? Or, at least tell us what is on it. Sounds like the WTS wants to spy into people's finances. I wonder if it asks for household income (from all sources), household expenses, and a list of assets.
Skeeter
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Phizzy
As Blondie rightly says, there is little doubt that cash flow has decreased from sources other than their property scams, but the moves in place for cost cutting will keep it a sensible level.
They have, more than likely, large reserves in off-shore funds.
They are not going to founder anytime soon because of financial reasons.
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insearchoftruth
I agree with Blondie and the others, the only reason they would be parting with the Brooklyn property at a time like this is the need to generate cash flow....(and to reduce the negative cash flow of the expense of living in NYC)
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blond-moment
I had dinner with another ex-jw last night, and we were talking about how they have been gambling in hedge funds. He mentioned they may have tanked. I personally see them selling off so they can move into their own compound. I don't really see their selling off stuff as they are in finacial trouble, just as was said, it's business.
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breakfast of champions
I think they have a cash flow problem, but are not necessarily in financial trouble. I don't really see it getting any better, especially as growth areas are largely the poorer, second and third world countries that because of limited Internet penetration will continue to require expensive printed materials.