Real Estate Business?

by no-zombie 22 Replies latest watchtower scandals

  • no-zombie
    no-zombie

    I was going over some of the older posts of others and without starting some kind of flame war, I got no idea why people are saying that the Society is some kind of real estate business. Of course its making millions of dollars in its real estate sales but this a one time event. Its down sizing by selling the furniture. Its like selling your milking cows after you've raised them from caves. It not a 'business' because there is no continuance of the business model. It would be different if the GB sold a hall and bought three more blocks of land for the brothers to build new ones ... but they are not. They are just cashing in.

  • OrphanCrow
    OrphanCrow
    no-zombie: I was going over some of the older posts of others and without starting some kind of flame war, I got no idea why people are saying that the Society is some kind of real estate business. Of course its making millions of dollars in its real estate sales but this a one time event. Its down sizing by selling the furniture. Its like selling your milking cows after you've raised them from caves. It not a 'business' because there is no continuance of the business model. It would be different if the GB sold a hall and bought three more blocks of land for the brothers to build new ones ... but they are not. They are just cashing in.

    And...you know all this because.....??

    How do you know this? Where/what is your source of knowledge?

    *to add...your post says that the WTS invested in real estate holdings years back and now are realizing the profits of those real estate investments

  • Magnum
    Magnum

    Not long ago, the org announced plans to build many new Kingdom Halls that seemed to be designed such that they could later be sold as commercial buildings. The new designs could have been used as dentists' offices, banks, etc. Their doing that would have provided a situation in which there was continuation of the process.

    I think that was one thing that made many say the org was transforming into a real estate business. However, oddly, it seems that for some reason, they've (at least for now) abandoned that strategy.

  • no-zombie
    no-zombie

    Look guys, I know that they have used donated moneys to make investments. But all religions do it. Should we now call the Catholic Church are real estate business too? What about IBM and AT&T. Every corporation invests in real estate. I'm no lover of the Organization and it will be a happy day for me when 8 million people will have to think for themselves ... but until that day comes, wouldn't it be better if we refrained from emotive name calling and put issues like this into its proper perspective?

  • OrphanCrow
    OrphanCrow
    no-zombie: ... but until that day comes, wouldn't it be better if we refrained from emotive name calling and put issues like this into its proper perspective?

    Lol!

    And here we go again...an appeal to the emotions rather than an acceptance of the evidence. Nice twist, too...label the ones who have produced evidence of being the "emotive" ones.

    NZ...you have perfected the art

  • NikL
    NikL

    I just started a similar post no-zombie!

    Must have been on our collective minds LOL

  • problemaddict 2
    problemaddict 2

    NZ,

    I am one that generally shares the viewpoint that when being critical of JWs we arent held to the same standard as any other human being in their way of communicating. If even just one word in our statement seems off, a JW is going to latch on to that, and use it to discredit everything else that was said.

    So now lets discuss the semantics. WT is in the business of false hope and religion at the cost of normal social constructs and freedom of thought. They also happen to ENGAGE in business in real estate.

    To put this in context, they just netted close to a billion tax free dollars from the sell off in new york, and who knows how much from other smaller consolidations (with more to come). I happened to meet with a large real estate fund manager who ran a company doing consulting and building on anything from high rises, apts, and hotels, to single family homes. His fund was about 100 million, including gobbling up some smaller companies along the way.

    WT has completed some of the largest real estate transactions seen over the last few years. Their assets are quite extensive. That puts them in the real estate business. Maybe it is just a,side hustle.......but its definitly real.

  • no-zombie
    no-zombie

    Look, they are conducting business. They are not a real estate business. Its just like a bank that sells all its branches and goes online ... how can it be said that's its into real estate if its got no more real estate.

  • OUTLAW
    OUTLAW

    I got no idea why people are saying

    that the Society is some kind of real estate business.

    Image result for Watchtower real estate

    Watchtower Bible and Tract Society of New York, Inc.

    Brooklyn Real Estate Office

    25 Columbia Heights

    Brooklyn, New York 11201

    (718) 560-5001 Phone

    (718) 560-5002 Fax

    brooklynRE@jw.org

    Image result for einstein duh

  • DATA-DOG
    DATA-DOG

    I think Outlaw has put this discussion to rest.

    DD

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