by campaign of hate 16 Replies latest jw friends
They are not worried about tusnami 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 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.
They don't have a cash flow problem. Their operating expenses are low in comparison to any business even near their size. They want to raise capital to build their new commercial style regional KHs. They don't want to tap into existing investments to do so. They want to have it both ways.
After they build they will sell hundreds, if not thousands of local KHs, and reinvest the profit.
This is being done so they can cover future operating expenses, since there is nothing more to cut. Most of everything they could cut was between 1990 and the present, since they adopted the so-called donation arrangement.
The are afraid of future cash flow problems. It should not be too hard to understand why. They have an apathetic membership base, with most of its more successful members leaving altogether; They have pending abuse lawsuits, and more to come; They are getting seriously pressured in the media over shunning, the child abuse problem, and even their videos. The future does not look bright for their finances, and they are trying to stem the tide.
d4g
done4good - "The are afraid of future cash flow problems. It should not be too hard to understand why. They have an apathetic membership base, with most of its more successful members leaving altogether; They have pending abuse lawsuits, and more to come; They are getting seriously pressured in the media over shunning, the child abuse problem, and even their videos. The future does not look bright for their finances, and they are trying to stem the tide."
Hmm.
Might be on to something, there.
x
EDIT: Maybe they're anticipating loss of tax-exempt status.
Maybe they're anticipating loss of tax-exempt status.
Extremely unlikely. The IRS has made it clear that they don't want to be in the business of deciding what is an exempt religion. They have been very tolerant of churches that engage in political activity. I think they'd go after those before they tried to revoke the WTBS' status.
As I've said, if they sell off a bunch of kingdom halls and invest the money, they could be set financially forever.
I agree with John Aquila, they're doing something else with the money. I'm going to put my accountant hat back on and see what I can think of.
Of course they are doing what every capitalist , always has being doing , collect all money they can for future eventual bad times, to secure their or their relatives prosperity and wellbeing. Investing them I “secure” founds. This is nothing but business. It’s only the squirrel mind that always has occupied human brains, there is no spiritual thought behind it whatsoever..
Bugbear
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.
They've been claiming to want KH builds according to their new flat roofed design plans (as if that made sense in New England). But I've already heard about two Cong's not getting a new build. Instead they will get minimal renovations like adding a carport at the entrance and putting in wired smoke alarms instead of battery powered ones.
One poster made this comment;
Terry A tax-exempt religion is just a playground for malfeasance.
We need to think along those lines. Remember, the Watchtower does not have to answer to the SEC or the IRS or anyone that will investigate if they paid their share of taxes. “They are exempt” They have a Free get out of jail card.
They are publicly asking for money from the rank and file and “They are getting it.”
As long as
people continue to donate to their cause they have free reign to scrape every
last cent from willing participants. If
they ever get caught doing illegal things with that money, then they will get a
couple of JDubs to be scapegoats, disfellowship them, and print in the magazines
that Satan infiltrated the ranks to mislead many. It will be Big News for a few
months and then people will forget about it and get on with their lives. Some will leave the WT but many
will stay faithful and be willing to go down with the ship.
Example: Enron Scandal, lost $74 billion. Thousands of employees and investors lost their retirement accounts, and many lost their jobs. Before they got caught, Fortune Magazine named Enron, “Most Innovative Company to invest in six years in a row” Penalties; two people were sentence to prison, one died before serving any time.
Example: Lehman Brothers, hid $50 Billion in loans disguised as sales.
Went bankrupt. Penalties; SEC did not prosecute due to lack of evidence.
And life goes on!
