Mo Money ... $$$

by loneranger 55 Replies latest jw friends

  • pepperheart
    pepperheart

    I thimk where a lot of the money has gone to is to pay the bills for all the bethels in third world countries,if you look there are about 30 or 40 bethels that could quite easily not be paying all there bills off.The watchtower has been making cuts since 2012 so its not just a quick fix of money they need.

  • nowwhat?
    nowwhat?

    I think the one poster may be on to something. Could it be the organization racked up tremendous debt thinking they would never have to pay it back because Armageddon was coming? Then they had to pay up big time when Armageddon didn't come as they thought?

  • LV101
    LV101

    I don't know whether they're in debt -- be very hard to understand why if they've had financial/legal advice the past 20 yrs (should be longer) but I know they're not stupid enough to believe Armageddon was/is coming -- W/T schmucks might be dumb re/business and depend on professional guidance but they're too busy begging 24/7 and living the good life to ever think the end is coming.

    They need more play-vacay houses.

  • Vidiot
    Vidiot
    Finally Left - "I think they had been borrowing against the buildings for years and had to pay back the loans. The buildings were sold and the bank collected the money. That is my 2 cents worth."

    That...

    ...actually makes a fair bit of sense.

    Weren't there hints that they'd lost some significant investment capital as a result of the crash of '08?

  • LV101
    LV101

    I'd like to think they were in debt but their business operating plan of free labor, free real estate to flip worldwide, sell pandas in paradise makes no sense. It's a tax free charity and the adherents march, sell, build/construct and hand over monies. Hard to imagine but it's clearly possible. There would be recorded legal documents If they borrowed against the properties -- which would be public.

  • pepperheart
    pepperheart

    Im not sure that they are in debt now because of all the cuts they have made but they might have running costs

  • LV101
    LV101

    They're probably debt free now and looking pretty good -- maybe all the begging is to build up some cash reserves and keep ahead of the pedophile lawsuits. Would love to know their legal fees (big guns secularly) but I'm sure they do all they can thru the cult legal team.

  • loneranger
    loneranger

    They know the pedo liability is very large...just how much they don't know. many many more cases in the USA vs Australia. The liability and bad PR is enormous. No amount in reserve is too much! Not sure they are in debt now especially due to the sale of Brooklyn but they are trying to protect that sum by hiding it in different corporations. They have cut back in many other ways,,,substantially reducing printing is an enormous savings alone now and going forward. If the liability becomes too much they could look to make a case and take advantage of Caesar's law by filing for bankruptcy. Time will tell. The heat is definitely on. The business and legal sides are controlling the show now. Outside legal though likely senses a huge lroblem and will continue to circle and strike successfully. My take.

  • LV101
    LV101

    I like your "take," loneranger. Sounds bulls eye perfect to me but it's such a crooked org hard to tell. If the cult files for bankruptcy to reorganize/whatever they'll still be around for EVA.

    I can't believe the advertising via sandwich boards/signs on another post -- who would have imagined! They obviously need bodies not halls.

  • loneranger
    loneranger

    thanks LV...filing for bankruptcy would be a huge negative for WT...but to preserve cash and limit some liability, they would take advantage of Caesars laws to protect themselves. Blame Satan and the system for the "persecution"

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