Ros, I agree with the “reverse mortgage” scenario ChuckD describes being quite commonly promoted because of the accumulated asset base of aging “boomers”, and lacking cash and time.
Although the WTBTS repetitively publishes the “end is nigh” scare tactic, they sure don’t run their finances or 'planed giving desk' like anything catastrophic is going to happen any time soon.
quote:
Now I am sure the Society, has invested that money, and not just in Kingdom Halls. That governing body member that went down to the N.Y Stock exchange did not go down there to play bingo. Maybe they have been placing bets on dead or dying horses. There has been a down turn in the stock market in the last few years, especially in high teck stocks. Nortel in Canada, holds about one third of investment in Canada (orsome such figure) has been a disaster.
The Toronto Stock Exchange 300 Index total value at one point in time during the last lamented stock bubble was almost 30 per cent Nortel. But the TSE300 index relative to United States Stock Index’s is almost insignificant and describing this as a disaster for the most is a bit of an exaggeration.
However as the tech stock bubble burst, Nortel fell as fast and far as most other Tech Stocks, like all boats falling during a receding tide down to their normal, less exaggerated valuation.
Only those who would’ve suffered significant financial losses would have been a few who bought at the peak of the bubble and refused to heed the warning signs and held on, or those trying to catch a falling knife by timing the bottom on the way down.
I suspect the Governing Body member going to the New York Stock exchange was there to sell Nortel along with the rest of “Babylon the Great”. Or has that “historical” bible reference also been expunged from the memory of the JW rank and file by the WTBTS Corporation.
Now that ‘things’ appear to have bottomed, I wouldn’t be surprised if the WTBTS financial department is back at the Stock Exchange picking up a few shares of Nortel as we ‘speak’. Nortel closed up over a dollar this past week.
Flip