Reasons for concluding that Watchtower is in (serious) financial trouble

by slimboyfat 151 Replies latest members private

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  Anony Mous

  @sparrowdown: The fact that they're in trouble doesn't mean they're broke. They are probably spending more with all the renovations they've been doing than what they've collected over the last few years.

  Having been involved in a local non-profit with an image problem, if you have a bunch of money sitting around but your income doesn't match expenses, in the long run, the venture will fail.

  WTBTS has tried hard to resolve the income situation by basically sequestering local Kingdom Hall funds and other forms of "fundraising". This may seem like a logical action to some but to the 'elderly' that aren't elders/servants and have given from their pensions and the like in the hopes of getting a new local kingdom hall, it looks incredibly much like they just gave money for nothing.
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  Lee Elder

  It would be reasonable to assume that they have taken a hard look at the numbers, and factored in the value of all their real estate holdings, including Kingdom Halls. While an argument can be made that these are the property of the local members, its far from black and white. Particularly if the local JW's gladly turn over all ownership rights in exchange for all heavy maintenance. In my local there are probably at least 20, perhaps 25 Kingdom Halls. The value of these properties is likely in excess of 500,000 per property. Conservatively speaking, that's 10 million dollars gross with the majority being free of liens. I'd estimate 4000 publishers, so hard real estate assets of about $2,500 per publisher. If that average held for the U.S., we're talking about 3 billion in Kingdom Halls alone - tax free. They can buy time by consolidating, and selling halls. That will not, however, keep them going long term. Not without even more meaningful cuts.
  
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  waton

  jws are waking up. In one local hall, the congregation can not meet the pledged amounts, but has several millionaires, Attitude seems to be: You first please. Wt: please first produce results as promised, then we will pay.
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  Crazyguy

  I think the down turn in the economy at the end of 2008 lasting for a few years really exposed them. They stole all the money from the congregations to keep them afloat as well as selling off assets to keep them going and flush for the time being . But their exposed and weak, this is why they are continuing to sell. Probably what it's going to take to push them over the edge is another major recession or depression in the economy. Their definitely a house of cards waiting to fall.
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  konceptual99

  They cannot realise that capital in the halls Lee. There is only so much that can be done to consolidate hall use. I don't see them selling every hall.
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  nicolaou

  Are you sure about that konceptual? I've wondered if it hasn't been their 'long game' since deciding to sell up in Brooklyn and London.

  Are we seeing the beginning of the end for Kingdom Halls?

  Think of the advantages for HQ.
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  slimboyfat

  If they are left with no other choice, I guess they would have to.

  I never thought they'd stop sending out missionaries, or close 30 or more branches either.

  Closing KHs to realise the value of their assets would be a real sign of the end. It would initiate a downward spiral that would surely mean the end of the organisation as we know it. But if they are left with no other option they may well just do it...
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  freddo

  Just read nicolaou's old thread.

  Yup. One meeting a week "like in the 1st century" and one hall - especially in the cities - could service 9 or 10 congs. (1 evening meeting everyday and an extra one or two on Saturday and Sunday.)

  "Family Worship" could have a mandated agenda such as watch the monthly broadcast segments with some scriptures to look up.

  So in a town/city with 10 congs and 4 or 5 KHs it could become 1 or 2 KH's.
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  slimboyfat

  The recent WT video entitled "Laying a firm digital basis", or something like that, does rather pose the question: laying a firm basis for what? Getting rid of most KHs and replacing them with online service? Surely not! Or? Who knows with this organisation. They seem to be in real trouble, and almost anything is possible.
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  zeb

  SBF. Well presented case. If the US ever wakes up and hits the wt with a requirement to pay taxes they are done.