by Quarterback 54 Replies latest jw friends
"They are not going bankrupt. It's wishful thinking."
I disagree. I think they'd have to make a lot more cutbacks to avoid bankruptcy. Even Lett said more money is going out then coming in.
They do have a massive amount of real estate. If they make the proper cutbacks and liquidate a good amount of real estate, I think they should be ok for awhile. But, they don't seem to be making the proper cutbacks. That's going to bite them in the a** if they don't wise up...
Going Bankrupt isn't the end of a company, and it won't end the Borg, although it may wake up some people.
MGM filed for Bankruptcy in 2010 and they still exist as a company.
Borg bankruptcy?
I would do a happy-ding dong the witch is dead dance.
I read about a situation that might compare to the Borg going bankrupt. What happens when a church goes bankrupt
It could be done to reduce a huge payment. Each country has laws regarding what is legal in it's jurisdiction. In Singapore some church officers got convicted of "Breach of Trust" for mismanaging money and could happen also. The Kingdom Halls are not assets that they can sell directly so closing branches and selling other real estate is something they can do.
The Society have smart lawyers and probably have structured themselves that they can survive any "attack" and have conditioned the faithful to listen to them no matter what. Rutherford was in prison along with his associates and that didn't deter him. Bankruptcy and other such problems won't deter them either. They will lead and there will be those who are willing to follow because people like the fantasy of living forever and never dying, of growing younger and healthier instead of older and no other religion is offering that.
The thought had long crossed my mind in agreement with those who posted mentioning stockpiling and hiding money while claiming lack of funds.
Consider the income alone from the NY real estate. With the sell off of those prime properties, wouldn't it be a great time to take the money and run? Added to that is the income from the sale of other branches around the world.
Of course, taking that money by those at the top would be illegal, but what if matters could be arranged so as to appear that WT is insolvent and no longer has enough followers to support an existence?
The various changes recently being made seem to be intended to anger the R&F, possibly hoping many will leave as a result.
The current claim of 8 million JWs I suspect is inflated.
While it is unlikely that all R&F will leave, the numbers could become so small so as to support a claim of insufficient donations to support printing anything or to justify KHs, AHs or branches.
With 'forgiving' KH loans and then taking ownership, sizeable additional income could be realized from the sale of those properties and no one would oppose if there are no longer enough JWs to justify owning or maintaining those properties. A pretence could then be made that any remaining JWs can 'associate' through attendance in on-line meetings which could be streamed in various languages from central locations. Of course, many JWs left on their own will not bother or only do so sporadically.
While WT did buy Walkill, the land is apparently contaminated which was very likely known prior to purchase. Although construction of a building was started, it could be a pretence of progress as it could be claimed that it can't be finished due to site contamination. WT could profess a major financial loss even if not much was actually expended.
With the current claims of insufficient donations, it could then be professed that there is not enough money for another site for a World Headquarters so it appears that it is 'Jehovah's will' that it not be built. Of course with no headquarters and a pretence of insufficient donations, the online meetings could no longer be afforded so they too would stop.
As WT is a corporation, it would no doubt have Directors identified as shareholders. Since WT is a worldwide organization, if it were to claim insolvency or arrange matters so as to appear as so, but if all debts were paid, what would occur with any money that was remaining at the time of shut down?
Excellent article WFB (post above). I can easily see that happening to WTBTS-NY and any attorneys with cases would lose out on the ability to have a jury trial. They'd likely be smart to take a quick (low-ball) settlement and run before the stream dries up and they lose out.
Doc
cognac,
in my humble opinion the internet won't make much of a difference. There is already plenty on the internet to wake up an elephant, and yet it hardly works in massive amounts. I am not downrating its importance, I am just saying that you would expect more awakenings if it was so.
Lack of financial support would indicate lack of divine backing at first sight, agreed. However, the org would provide new light way before that. It would not be the first time this is discussed. When things go well, is a sign of God's blessings, when thing go bad, is a sign of the times of the end and only the true org would be able to discern it. It could easily be attached to Revelation and the paragraph that talks about the dead witnesses. They used to say that paragraph was a prophecy, partly fulfilled after all the apostles died and the resurrection of the two witnesses (also from Revelation) was fulfilled when Russel created the bible students association.
