If they go bankrupt, so what?

by maksutov 24 Replies latest watchtower beliefs

  • maksutov

    It seems likely that the Watchtower is worried about its finances, given the downsizing, property schemes, and money-grabs we have been seeing over the last few years. Perhaps they suffered badly from the financial crisis. For sure, there will be more expenses to come from child abuse payouts. But suppose they do actually go bankrupt, what then?

    They have so many different corporations and legal entities, that one could easily imagine one or two going bust and the rest carrying on as normal - insulating themselves from the worst of it, and perhaps even coming back stronger than before, having rid themselves of bad debt. But if that is not possible for some reason, and they genuinely have to sell up the printing presses and property to pay of creditors, will that really mean the end of the religion?

    I doubt it. I can run a business from home. I can publish books even though I don't have a printing press. Surely it wouldn't be hard for them to become an 'online religion'? They are already half way there. Each congregation is a separate charity (in the UK at least), and for those that don't own their own hall, or would have to surrender it, the members could probably all chip in to rent a hall or build a new one, or just meet in private homes. They will see it as a sign of the nearness of the end, and might even grow in membership. Depressing, but that's my best guess as to what would happen. Your thoughts?

  • Saintbertholdt

    My own worst projection for the Watchtower looks as follows:

    For example: On 5 November 2017 the Watchtower declares chapter 11.
    Who knows why? Perhaps bad investments, and they run out of funds during their building project upheaval and end up making lots of debt that the faithful can't cover. Who knows? Cats and dogs living together, mass hysteria. Then the scandals keep on coming (sexual abuse, lawsuits etc.) and they do something really dumb like they try another date prediction, which backfires.

    The Average publisher level in 2050 is 1.38 million. Very bad but the organization still survives. Come to think of it, its actually not that bad for the Governing Body. The Risk of Ruin of the organization is virtually zero.

  • The Searcher
    The Searcher

    As it's a business, first and foremost, it's being run like every other multi-billion dollar company, with the financial wizards formulating virtually every organizational decision and direction to maximise revenue streams.

    Having recently watched "The Rainmaker" movie on YouTube, it's not beyond the realms of possibility that the Org's puppet-masters could manufacture a "crash & burn" scenario, only to rise from the ashes like the Phoenix - in a totally different form.

    They appear to have mastered the art of sleight-of-hand regarding the "movement" of their liquid assets.

  • notsurewheretogo
    They sold a billion dollars worth of property in the last 10 years...how are they going bankrupt??????????
  • punkofnice
    notsurewheretogo14 minutes agoThey sold a billion dollars worth of property in the last 10 years...how are they going bankrupt??????????
    Maybe they're not. Even Mak says he doubts it. His holiness watchtower rock star pope paedophile loving Lett says they have more going out than coming in....obviously Jehovah(tm) is spending too much...what a god!

    I think what seems to be happening, is the WBT$ is cutting back and begging for money. There appear...I say appear...to be various scams run by them that SEEM desparate. It could all be imagination of course. That, and the hope that those perverts are going down the khazi.
  • notsurewheretogo

    They are simply doing what every company is doing in the world...cutting cost and expenditure...they are consolidating in an attempt to secure their future....they will be around for a long time yet, well after I'm gone!

    Of course, unless the Big A comes in my generation...or my overlapping....wait what?

  • maksutov

    notsurewheretogo: They sold a billion dollars worth of property in the last 10 years...how are they going bankrupt??????????

    Sorry if I gave the impression I thought they were going bankrupt - I don't. It is impossible to get an accurate picture of their financial standing, as they don't publish comprehensive figures. However, some ex-JWs seem to be convinced that the org is in serious financial trouble (and there is some evidence to support that view, albeit far from conclusive) - my question is, so what? Even if that's true and they go bankrupt, I don't see it changing much. Just wondering what others thought.

  • notsurewheretogo

    I don't think they are in financial trouble....as I say and as we all know they sold over a billion dollars worth of property in the last ten years...both new complexes in US and UK will cost a fraction of that and will no doubt be very green and conservative buildings.

    Every company, rich or poor is consolidating...with the recession over the last few years and things slowly picking up most companies are realizing that they had it good and now need to plan better for whatever the future holds.

    I work for a publishing firm and the ongoing rise in costs in paper and other raw materials for publishing is really hitting our company...this will hit the WT too hence why they seem keen to go more digital....if they ever stop printing then there and then they cut enormous costs and surely they are sustainable for a long time yet.

    Money is not an issue to the WT, the only issue they will have in the future is to convince people they are chosen by God given their insistence we have been in the last days since 1914....their teachings will be their downfall coupled with the internet and easily accessible information but their downfall will not come in any of our life times.

  • Simon

    There is no way any of these large, investment / real-estate rich, un-taxed, free-workforce "religions" is going broke.

  • Witness 007
    Witness 007
    They have heaps of cash and always will. Some smart ex-corperate buisness brothers have taught them how to down size..buy sell relocated your factory to maximise profits and assets....its like Brother Donald Trump is getting them out of the 1990's.

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