They are still asking for money because just like any other business, future viability comes from regular income and cash flow, not sitting on stockpiles of assets or cash. They know how to run a business and if contributions are down, they are sure as hell going to try to get them back up, billions in assets or not.
WHY is Jehovah so broke with all this cash flow??? Millions in real estate profits....where is the money???
by Balaamsass 19 Replies latest watchtower scandals
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maisha
Does anyone have the names of the investment firms, account names that the organisation uses for investing and playing the markets?
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bigmac
Why is jehovah broke?
maybe because there are no ATM machines in heaven.
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flipper
" Where is the money ? " Offshore bank acoounts most likely
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raymond frantz
The selling off property is a prepamptive attempt to shield from upcoming lawsuits .Also the new light is a move towards the same direction .The governing body is now a theological idea and not actual individuals .Next time a pedophilia case is filled there will be nothing for anyone to collect
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Balaamsass
Does anyone have ANY idea of how many Assembly halls exist?
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ziddina
Hah!!!
I love the little digs in that article...
"The Promised Land(for Witnesses, at least) has a name: Ramapo, NY."
"...the sect, officially known as the Watchtower Bible and Tract Society ..."
"All along, the Watchtower had maintained that its core headquarters would remain in Brooklyn, but the personnel shift seems to indicate otherwise."
[Saying one thing and doing the exact opposite is also referred to as "lying"...]
"Combining both facilities at one upstate site would create a large, centralized religious compound."
["compound:
1. A building or buildings, especially a residence or group of residences, set off and enclosed by a barrier.
2. An enclosed area used for confining prisoners of war."]
http://www.thefreedictionary.com/compound
"For more than four years, the Jehovah's Witnesses have been undertaking a sell-off of Biblical proportions..."
"The group is respected among real estate dealers for its business acumen, the excellent condition in which it maintains its properties, and a history of keeping its cards very close to its chest."
[In other words, VERY secretive...]
"It appears that they will eventually transfer most of their operations upstate, said broker Chris Havens. The real bellwether will be those two lots in DUMBO. If they don't build anything there, it could indicate that they plan to move out eventually."
[They aren't telling anyone exactly what they're planning... There's that blasted secrecy, again... Can't let those worldly followers of Satan know what they're up to!!]
"..what with the New York real-estate market experiencing its own Armageddon..."
[There are a LOT of "armageddons" running around...]
LOVE it!!!
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blondie
I do believe that the WTS has been bleeding cash since 1990 and the end of jws paying for publications and the continuing reluctance of the rank and file jw to ask for money at the door even for the so-called worldwide work. Many have preferred to eat the cost rather than ask. Then the collapse of the investment world hit the WTS hard. Based on my associated experience with my family's being accounts servants, I know that many congregations donations fell, especially in regard to the WWW.
Money from the sale of property is finite unless you sucessfully invest it and do believe the WTS is using it to maintain the old buildings and the new properties. It takes a great deal of money. I worked for an organization that owned and maintained large institutions, 29 of them. Millions of dollars were involved, it is not the same as owning a 2,000 SF house.
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wha happened?
I agree that the donations area fraction of what they used to be. And I also believe that donations alone don't keep them out of the red. I believe it's investments that keep them in the black. Perhaps that's why the screaming for cash is so loud.
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mind blown
Broke?! No way......they're KAZZILLIONAIRS....Investments, KH property, Other Real Estate, Assembly Hall property, Willed Money, Donations, Literature, DVDs, Govenment Funding, More Investments..............More Donations.......WORLD WIDE....