by Gorbatchov 38 Replies latest jw friends
A non-witness insider told me this week that the WTS has financial problems
that lead to halting down their building plans and lay off the special pioneers and
bethelites.
The reason of the financial stagnation is beside some bad investments,
in particular the Child abuse claims.
The abuse problems in the organization and the related claims are that huge that
the WTS is in big trouble.
Gorby
Wow, not surprising... The cutbacks they are making aren't even close to what they need to be to survive.
Interested in seeing how this all plays out...
Hi dropoff and bohm,
All I can and will tell is:
Gorbachov build a longtime network from the start of his fading, 25 years ago, about our believe and it's organization.
One of my contacts is a University professor.
These kind of specialists have contacts with JW's at higher organizational positions. So they hear from the higher inner circle what's going on.
And I can tell you, many of the higher inner circle are critical also. But have to stay because they can't do anything else with there life anymore.
The contact's will never come to public, I assure you.
Gorby
The abuse problems in the organization and the related claims are that huge that the WTS is in big trouble.
Gorby
Sorry tend to disagree. The WTS has had hundreds of millions tucked away for a while now, the payout of those law suits is but a drop in the bucket for the WTS.
The Canadian branch has had of late 60 million siting on hand alone .
The thing to keep in mind is the accumulation of all corporations and their assets they have around the world, that the WTS. has a connection to.
Yes so much so are they dyeing that they are forgave all loans to congregations, sold many branches around the world and are building brand new facilities in the US and UK.
They may have let loose some that wealth too fast and they are reevaluating their finances but they are far from struggling.
Remember this is a smoke and mirrors organization, not telling their members the truth is inherent mandated and there is no reason to believe in this point in time that they are going to change.
It is true that the WTS is reorganizing itself with its finances, down sizing its printing production to digital distribution, that is the direction they are evolving toward.
It has direct influence at their reserves.
This makes sense to me.
In order to finance big building projects, the WTS would need to secure huge loans. They are, in general, asset rich but cash flow poor.
In order to get those loans, I imagine they have to prove to the lending institution that they have a certain level of financial reserves.
If they have $X in reserve, but [X times a certain percentage] is in "danger" due to potential or pending lawsuits, then maybe they don't get the loans they need.
And, given the size and scope of the Catholic child abuse lawsuits, it is easy to imagine that the "certain percentage" in my equation above might be pretty large.
Financial institutions have dramatically tightened their lending policies since the 2008 financial crisis, and that is more or less when the most radical changes have been occurring in WT-world.
If they can't get loans, what would happen? Exactly what has happened: a moratorium on all large scale building projects and massive cutbacks in expenses (i.e. personnel).
The puzzle pieces seem to fit well together.
