Buy your car from The WBTS! Free keychain!

by LDH 16 Replies latest jw friends

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  LDH

  UMMMMM in case you hadn't noticed, NO ONE on this board wants to talk with YOU about ANYTHING.

  LDH
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  expatbrit

  Mad:

  I'm not sure about your reasoning that selling the automobiles saves the donors, the rank and file, expense.

  It is also a fact that the congregations are not informed that these cars are to be sold, or how much they are to be sold for. (Yes, you'd think they'd think it out for themselves, but these are JW's, after all.)

  It seems to me that the way the donors would be saved money is if the proceeds of the cars was reinvested in purchasing new cars. But is this the case? From my memory, every few years, an announcement is made in the congregations that "new cars are required which will cost $xxxxx, and that's roughly $xx per publisher, so the congo is going to send in $xxx and any objectors?"

  What this means is that the society not only gets the full amount of purchasing the new vehicles every 2 or 3 years, but they also get the second hand proceeds in addition. This is not a cost saving for the rank and file, but an additional revenue stream for the society.

  This hinges of course, on whether the figure quoted to the congregations is full purchase price, or full price less used car disposal proceeds. Based on what I've seen of WT financial dealings, I know which option I think is more probable.

  Expatbrit

  p.s. Lisa's numerical example above explains it quite well. The $14,000 surplus in her example should be subtracted from any further requests for funds, if this is truly a cost-saving for the donors.
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  ILoveUncleBruce

  I'm sorry Lisa, The WTBTS has nothing I want. Especailly a stupid key chain.
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  MadApostate

  EXP:

  Please reread my latest post again, because your comments are so far offbase that I don't even know where to start.

  CL is a separate Corporation owned by individual JWs. The WTS leases autos from them, rather than from a "worldly source". R&F $$$$ goes to pay the lease payments. Obviously, a private Corp has no reason or obligation to keep the entire org informed on every thing it does.
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  expatbrit

  Mad:

  Ah, I was under the impression that WT bought the cars from the usual sources, then sold them through CL and pocketed the cash. I didn't know that they leased them from CL. Thanks for making that clear.

  But now my curiousity is along the lines of who owns the share capital in CL, and what happens to the after-tax income generated by the company? It would be interesting to get hold of a tax return for this company.

  Also, I wonder if this arrangement is followed in other countries, such as the UK, too?

  Expatbrit
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  MadApostate

  EXP:

  First, this is not the first time that legal or other circumstances have motivated the WTS to lease physical assets from a separate JW owned Corp.

  Second, just as in these other situations, I have no problem believing that the WTS's contract with the lessors is such that the only allowable profit is that what is required to cover the expenses of the arrangement.

  Third, I have no idea what happens outside the US, but it is only logical that the WTS would do so elsewhere if such were advantageous.

  To satisfy your curiosity, here is some info on CL:

  CIRCUIT LEASING CORPORATION

  Mailing Address:
  P.O. Box 6403
  GRAND RAPIDS MI 49516-6403

  Incorporation/Qualification Date: 6-9-1989

  # Shares: 100

  Type of Entity: Foreign Profit Corporation
  
  Jurisdiction of Origin: DELAWARE

  Agent: L. DALE BAKER
  5460 33RD ST., S.E.
  GRAND RAPIDS MI 495122074
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  expatbrit

  Mad:

  Thanks for the info!

  Expatbrit