by konceptual99 25 Replies latest watchtower scandals
My brother in laws KH, was closed by the co during his last visit. Old building, in very sad shape, and in a run down trashy area. They were told that they mist likely get a new KH, in a good safe location. Well Tuesday night, they found out, they will be getting a mild remodel. Fixing a mold problem, and refresh of the inside, nothing more. The parking lot is gravel and will stay that way!
As little will be spent as possible!
I hear the message about property flipping and there is no doubt that the current plans with the US and UK HQ buildings does allow the society to capitalise on the massive profits made on property purchases in the cities but are these really property flips? Not given the timescales involved. Some of the properties were purchased decades ago. Of course the new purchases and developments give them yet more profit opportunities however there will not be any quick turnaround on these so, again, can it really be property flipping?
I would suggest that rather than this being traditional property flipping, which is based around rapid turnaround, this is a far more long term view. The GB have probably admitted that they are looking at still being around in this world decades from now and are looking at how to secure long term investments. There is never a bad time to get into property, you just need capital.
So, have donations decreased? There is no way of really knowing but seems clear is that there is a rush to purchase and develop properties. Even if they can do it with current cash reserves there is nothing stopping them also taking advantage of the moment and getting people to donate on the back of the works being undertaken.
BUT, THE END IS COMING SOON RIGHT???
So why build more halls??!!
Oh yep, that's right, because THERE IS NO ARMEGGEDARMAGEDDON!
What konceptual99 said, with one caveat (IMO)...
...the big property purchases are long-term investments, yes, but the KH refurbishments and sign-overs are short-term flips.
Both serve a related purpose.
As one can observe organized religions can be a very corrupt, lying, exploitive and manipulative business,
particularly from those which have a publishing house operating at its core.
Finkelstein 21 hours ago
At a time when the WTS has never been richer in its entire history, this can we have more money is a bit disconcerting
I've seen it said they are short on cash flow. But cash flow for what? They are not liable for any federal taxes, or sales taxes, They don't have salaries to pay because all workers are volunteer. They don't provide insurance for their workers, They don't provide a retirement plan for anyone. All their properties are paid for by the dubs. They are not worried about pedo-related court losses. They had a big financial victory with the Candace Conti lawsuit. From 28 mil to a few million. The rest of the lawsuits are peanuts. A million here, two million there, just normal business operations that all corporations anticipate. The lawsuits which are some millions can be paid in a month easily out of collections from the congregations world wide. Their publication cost are nil since they are using jworg more and reducing print material.
The call for more money is something else not related to running the corporation. It has nothing to do with lawsuits. It's something outside the box of what we are assuming. If they need cash flow then it has to be for something else not mentioned above. Something unusual that no one is thinking about or considering. Something outside the box of normal business operations.Terry
A tax-exempt religion is just a playground for malfeasance.
