It almost seems the JWs have become they very thing they have despised.
Bye-Bye Brooklyn....were OUTTA there! Real Estate news.
by oompa 64 Replies latest jw friends
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IMustBreakAway
Always knew those years of never donating a dime and ordering every book to heat my house would finally pay off. At the rate they are losing money I wonder if there is a few heavies at the top that are going to find a way to take the cash from the sale and then "leave the planet".
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Quirky1
I'm just curious here people, but with the market being in such turmoil, why not wait it out for a better market? Are they having any financial woes to speak of? It just doesn't sound logical to me at this point in time unless there is a huge market for the property.
Quirky1
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daniel-p
Quirk1, the real estate market in New York city is probably not very impacted by the housing slump. This is commercial property in the most urban areas in the US. These investors are thinking long term.
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Quirky1
'Tis true!
It was just a thought...
Quirky1
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horrible life
seriously, this money might go to swiss accounts or buy stuff in virgin islands away from lawsuit's hands!
Men have done this for years!! Think you may get divorced? Hide your money.
Remember, they split the Corporation a few years ago. The Watchtower is big money. They have some educated people working on the money angle. They saw how bad the Catholic Church $ got hit with their pedophiles, and they know they don't have that much money. They are trying to hide, or move as much money as they can.
If somebody is going to sue you, you would put all of your money in your kids name. As you get older, instead of letting your kids pay the death tax, start giving it to them now.
Everybody does it. It may not be legal, but Jehovah told the WT that it was OK.
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wunce_wuz
I wonder what the congregations in NYC will do without the constant Bethel presence?
Blondie
That is a good question and something I have wondered for quite a while. When I was at Bethel, one year I did not go to the Gilead graduation, so I was the only Bethelite at the meeting. I noticed quite a change, to my surprise. People that never answered or seldom did were far more expressive. At that point I wondered how NYC congos would fare if all Bethelites disappeared. Grant it, that was quite awhile ago and only a one time observation, but still... As for Elders who have "power/inner circle" issues, that will be more interesting to see where the dust settles there.
Then there is the other side of the coin. There are far fewer congos in the rural areas so congos will see a much higher Bethel:Publisher ratio that will be interesting to see what differences, if any, that will make.
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smiddy
horrible life
you made sense,as with the pedophile issue jw`s will stick to the letter of the law to save their asses,but integrity,honesty,morality,and being ethical are something they can`t comprehend unless it`s to further their interest only.( it`s called theocratic warfare)
smiddy
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Billy the Ex-Bethelite
Brooklyn was an increasingly expensive area to operate in. The move out will make money from the sale of the properties. They'll save money by getting rid of excess Bethelites. And save money by living more cheaply upstate. However, the Society is a spending organization. And I've seen how they can burn through money very quickly. They've never worried about serious budgetting since Jehover will always provide more, and the end is so very close...
It will be interesting to see future developments.
B the X
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lrkr
I agree with Billy- operating costs are the primary reason. Some years ago, the Accounting Department started running the numbers on everything the Society does and started shutting down operations that didn't make sense. Window factory, cardboard box factory, fruit farms, etc, etc. Well, looks like one thing led to another and...here we are. Soon enough someone will figure out that is cheaper to pay someone else to print the literature too.