More speculation on Kingdom Hall closers and money grabbing?

by Crazyguy 37 Replies latest watchtower scandals

  • Esse quam videri
    Esse quam videri

    Crazyguy '... My questions is why after selling off all this real estate in New York for over a billion dollars are they still acting like their broke?...'

    When John D. Rockefeller was asked “how much would be enough?” he answered “just a little bit more.”

    [ What an ironic answer, coming from America’s wealthiest businessman who at the height of his financial success personally accounted for almost 2% of total US GDP!]

    How much does the Watchtower really need? MORE!

  • steve2

    Whatever we make of this ongoing sell-off and consolidation, it is NOT the course taken by an organization that is enjoying an increase in publisher numbers and, in particular, meeting attendances.

  • xjwsrock

    I have started thinking that they borrowed money against the New York properties and thus had some huge loans to pay off when the properties sold.

    Some have speculated that the construction moratorium had to do with the bank shutting down their construction line of credit - which could be for many reasons - none of them good.

    Again, though, who knows. No financial transparency means there's secrets. They invite suspicion by not being forthright and open about what they are doing with other people's money.

    It gets under my skin when they throw around the "dedicated funds" term. It's as if the money was given to God and then the Watchtower was entrusted with it. Not so. The money should be referred to as donations. Plain and simple. Donations come from donors. The "dedicated funds" term has a veneer of religious respect but actually disrespects and ignores who the money actually came from.

  • sparrowdown

    Don't worry bout it. It's all part of the GB's final solution..I mean master plan.

    It goes something like this.

    Sell off all the halls except for maybe one big "Potters House" style Hall where only the creme de la creme, invitaion only, demographically approved dubs will go and the meetings there will be broadcast. That's when they will become an internet sensation, amongst jws anyway. Add to that the perpetually overlapping generations and they're good to go for another 100yrs.

  • UnshackleTheChains

    This is quite an eye opener. I watched the video of the new bethel at Warwick and struck me that it will be one giant future investment.

  • LongHairGal

    The sad thing about this money-grabbing and Kingdom Hall consolidations is that the few JWs I know are oblivious and gullible enough to believe anything.

    I feel all the thinking people in the Witness religion are either OUT or they are heading for the door....The rest aren't going anywhere no matter what the religion does, teaches, or morphs into.

    The Witnesses left are either: (1) too old to start over, (2) the mentally ill who cannot bear to think about anything, (3) those trapped because of family and/or financial dependence, (4) also those in a news blackout and know very little about their stupid religion. If they ever found out TTATT they could fall into categories 1, 2, 3 and not want to leave!

    I have resigned myself to the fact that at least I am out and free, but my few JW "friends" can stay there! I'm not interested in dragging anybody out unless they were a family member, only because I know how damaging this religion is.

  • Darkknight757

    What I don't understand is what they will do once they sell off all these properties they currently have? They tried for a good year and a half to sell the kingdumb hall that I used to attend and nobody wanted it, either because they were asking way too much or because it didn't have a functioning kitchen.

    These law suits are not going away if they keep their current policies and sooner or later (hopefully sooner) they are going to run out of things to sell.

    It's pretty obvious as previous posters have stated that they are trying to become an E-entity. The lack of physical publications is quite telling as to their financial state.

  • Crazyguy

    Maybe they leveraged thier New York real estate to gamble on Wall Street and lost. They are definitely acting as though they have debts to pay. Also the fact that both the US and London headquarters are changing makes me think they leveraged the London property too.

    After the KH money grab and the New York sales they should be flush. But these current Kingdom Hall consolidations and that fact that thier not even being discreet about makes me think thier still in the hole.

  • LV101

    Searcher has great optimism along w/others that feel the org needs money and I certainly hope it's true. I think poor mouthing is their game. They're professional beggars and pull at the heartstrings of their followers although it does seem to be desperate lately. I heard in early 90s that they didn't have money and how it all goes for the preaching work expenses -- more lies. I recall the PO talking about the society not having money in 1995/96 before I stopped attending.

  • joe134cd
    That's the big question. How much is going out.

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