Why the move to Warwick?
I'll take what is 'cashing in your chips' for $144,000, Alex.
Sell now, hide the money.
As opposed to lose everything when the lawsuits hit tsunami level.
Hi and welcome Optimistikskeptic.
I'm with Kairos on this. A lot of money was tied up in the Brooklyn properties and they were either owned by the Watchtower Corp of Pennsylvania or New York or both. Transferring those properties into another business entity was probably not an option for tax reasons and transparency but once they were sold transferring the money into a new corporate structure should not have posed much of a problem.
"With regard to 9/11, WT may have received some bad press for locking their doors and not assisting evacuees on Sept 11."
Wow. I never knew that.
The GB got tired of waiting for paradise so they built their own
A win - win situation. Transformation to a TV religion. No need for property anymore.
Personally, I think they are consolidating, selling/saving /hiding money for the big crash.
They have a nice plush retirement home, so screw everyone else, right?
Simple, flipping the commercial property, stockpiling money to ride this out as long as they can, and hoping that it lasts until they they all die off.
They sold $1 billion dollars of property.
Warwick cost $200 million...
Simple math...they pocketed $800 million.
Is there any hard evidence on what they made selling the properties and how much Warwick cost? I would be deeply surprised if the math was as simple as 1b-200m=800m profit. There are multiple properties beyond Warwick, the tech building for the broadcasts, warehouses for sound stages, the buying out of an apartment complex, the buying out of a hotel, and I think there's another location that's for infirmed and old age ones. I don't think there's any way this is all 200m. I would think easily 500m. Regardless, you could still say they pocketed 200-300m, which is a lot of money no doubt, but I would think funds that don't last long for all of their operations even though their is a lot of cutting back throughout the org worldwide.
Regardless, interesting discussion being had!
I think the move to Warwick was motivated by the fact that unconsciously at least the prime decision makers know they are in a downward spiral and armegeddon isn't gonna save them so they moved to a less conspicuous place to avoid as much embarrassment as possible. The great disappointment gotta come any day now because you can't keep say any day now for a thousand years into the future,, eventually your subscribing members will dwindle down to zero.