How bad do the JWs need to be doing financially (page 5)

cognac

Yinzer - The PA company wouldn't be tied to the conti suit cause it's considered a trust. That's the way I've understood it, at least.

cognac

Irkr - That absolutely is not true. They deal with banks a lot.

Coded Logic

With 8 million members there's no way they're going bankrupt. Each member could donate $1 each month and it would tide them over.

One dollar a month would barely cover the cost of the COs car, gas, insurance, food, clothing, and housing allowances*. Much less all the branches and all the kingdom halls. I don't think any of us know what the Societies costs are. But 8 million dollars a month doesn't go very far when you're a multinational corporation.

They need a lot more than that to stay afloat.

*Each CO is responsible for roughly 1-2 thousand people. So one dollar a month from each person would only be 1-2 thousand dollars per month. Even with low living costs they still consume a sizable chunk of that money each month.

Simon

If they do have a problem, it's most likely cash flow / cash on hand rather than real lack of assets.

I just can't believe that a corporation that enjoys tax free status, low and unpaid voluntary workers plus regular monetary donations by all their followers, who is sitting on $billions of real-estate around the world could be anywhere close to insolvency.

They would need to have screwed up monumentally to be in real financial trouble.

That doesn't mean they don't want to be more profitable - I think all the recent changes, the slicker media presentations and sales and these recent cutbacks are really all about profit margin. They don't need to do more to make more. Why have all these staff in unprofitable corners of the world? Cutback and there's more dough for someone's pockets and retirement mansions.

kaik

WT will not go bankrupt. The squeeze will affect their balance sheet, but before there is a huge imbalance between assets and liabilities, they will split off the divisions into something that can channel money and wealth into, and close unprofitable operations. They will not deplete their assets to zero. They have 140 years of wealth management and money world wide. If economic performance would be bad for very long time, there is a possibility for major assets restructuring. Operations in industrialized countries will be closed, and production, publishing, and other work outsourced into 3rd world country. Do not expect they HQ to move to Kinshasa, Poland or Brazil, because they have tons of followers there. These people on top expect comfortable life and will remain in NYC, London, or even in Switzerland. They can manage the tax free office even on Manhattan with penthouse near by. Publishers will slave door to door, while printing can be done remotely from any location with low labor, energy, and transportation costs.

Simon

Also, it doesn't matter how many assets they have - they will not use them to fund loss making operations however important they may be to "spreading gods (their) message".

They are all about the money and protecting their wealth, not spreading any message ... unless its "give more" to people who have more to give.

mana11

Are not the year books a year behind?

mana11

Is it not possible for them to play the hedge funds, Take a lean against All the paper they have, ie Gamble against the title deeds and ready cash, Take a huge loss in the market and be in trouble.

Sure it is at the extreme, but for sure they do not attend hedge fund conferences for nothing.

They are chasing the "easy money" and you need money or paper to do it, listening to advisors that want to get rich quick off fools is entirely possible.

kaik

For example, the branch operation in Prague was closed in 2008, and they tried to sold the facility. However, recession arrived in later of that year and lingered for a while. Property prices in Prague plummeted and Czech currency devaluated, yet, the facility is still not sold, only maintained by skeleton crew. My mom told me that they will put the facility again for sale as all operations are made from Bratislava, Slovakia, which uses Euros.

If you look into it from financial perspective, it does not make a sense to sell facility with loss in the middle of the Great Recession. They would lose money. Now, when Czech economy is recovering, and there is possible strengthening the currency to parity to Euro it had in 2009, they will sell it for profit. WT used to have various facilities around Prague and Bohemia, even a villa in luxurious part of the city. So they can walk away with a profit of several millions of euros just from it. Multiple these operation across globe, you have incomes of tens of millions tax free.

Vidiot

Simon - "They would need to have screwed up monumentally to be in real financial trouble."

That's easier than you might think, especially for a group of guys who surround themselves solely with people who are never allowed to disagree with them, and therefore, never think they're wrong.

In fact, I would argue that monumental screwups are virtually inevitable in that kind of situation.

How bad do the JWs need to be doing financially

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