Something fishy

by I Faded Twice 9 Replies latest watchtower scandals

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  I Faded Twice

  Ok so just thinking it over here. In the recent Montana lawsuit WT had to show their net worth. It came in at like 1.6 billion I think.

  I'm just curious how they are not worth way more. The profits from Bethel sales were about 1.3 or 1.4 billion . I realise that they spent money in the building of the new Warwick facility but total costs for everything couldn't have been more than 100 million .

  So how bad off are they? How much did they really need to sell Bethel? They've also sold a crap ton of the 3000 properties. And really only have the money from the sell off of Bethel.

  It seems to me they are in the red and have no idea how to get back in the black.

  Any thoughts?
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  Incognito

  When you say WT had to report their net worth of $1.6B, that was only 1 corporation, I don't recall which, I think maybe WTBTS of NY. I recall the Christian Cong of JW was an additional $500M.

  Other WT corporations such as WTBTS of Pennsylvania were not named in the action so those values were not reported.
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  oppostate

  The CCJW was a measly 34 million U$D.
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  pepperheart

  One reason they might be short of money is if lots of the branch offices in the thirld world countrys are not totally paying all their bills then it could very quickly mount up the amount of money that warwick have to pay out eg if 20 countries are just $25,000 short then that makes for $500,000 a year,every year until armagadden comes.The cuts have been going on for six years now,so i dont think it was a quick fix that they needed but they knew that they were in trouble long term
  
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  OrphanCrow

  Oppostate:

  • The CCJW was a measly 34 million

    Yeah...handy that all those KH's were sold, isn't it?

    *Side benefit of congs merging/closing: sort of hard to track down the records if someone is wanting to take elders/congregations to court if those entities don't exist anymore
• 

  Vidiot

  And yet there's "more money going out than coming in"...

  ...somehow.
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  OrphanCrow

  vidiot: And yet there's "more money going out than coming in"...

  Of course there is. They just don't say where it is going. Somewhere nice and safe, I suspect.

  A good business plan always has an escape hatch. It is called bankruptcy and most businesses plan the lead up carefully. Especially if they are facing litigation. Once a business is stripped down, they pay less in fines and settlements

  Hide da dough, mama...da judge is comin...
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  TheListener

  You may be right about them hiding the money OrphanCrow.

  When I was in I viewed all the leaders as sincere believers and since I've been out it is really hard to shake that feeling. I have a hard time getting myself to understand that there are shrewd businessmen at the helm of the organization and that they are not all true believers.

  I guess I always sort of thought of the witnesses as a religion that went wrong and kept going wrong. I need to start thinking of it as less a religion and more of a business with lawyers and bankers and stuff. they have done a good job of hiding that part of the religion or business from the rank and file.
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  LV101

  I agree with OrphanCrow -- restaurants (businesses) do this all the time when they stage a fire -- it's called Jewish Lightening. The WT cult clowns have made sure they have a nice residence to retire in, maintain power for as long as possible and stash cash for xmas rolexes.
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  stuckinarut2

  The fact is that they have many different entities that they can shift funds and assets between. That is how they attempt to avoid being held accountable.