So the society have a hedge fund, some(50%) shares in a USA company who specsialise in weapons delivery systems , has a shares portfolio that includes cigerettes.It buys up real estate in one of the worlds most lucerative locations NY,uses free labour to refurbish these properties along with its tax free status and then sells them on at a profit.It further extends it real estate portfolio by lending money at intrest ,for the building of more KH, again built with free labour and tax breaks, which are never owned by the Cong,s who built them, but belong WTS. I am not an economist,though I would be hard pressed to come up with a better economic model than this, also it purports to be politically nuetral, so hopes to operate globally without restrictions, Infact the (Workers) have to pay the society ,by way of Mag sales and donations, in order to give their free labour, No trade union protection or minimum wage. G--gle, P--si,Ya-oo, micro---t, would kill to have these advantages in the market place.
How can the WTS be short of money ?
by the max 19 Replies latest watchtower scandals
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jookbeard
they are certainly not short of money but their greed is expanding
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troubledfiancee
Haven't heard about the WTS being short on $$, but from what I understand they have billions in assets. Liquid vs Fixed (or Non-Liquid) assests can be a very different thing though. A spike in expenses could conceiveably cause a cash crisis while still sitting on billions in assets. Wouldn't surprise me really. Maybe it is time to start collection plates...
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witnessdater
What is the company they have shares in that specializes in weapons delivery systems? Not criticizing you, I would love to see something showing this. How can they go on for so long not being exposed? Why are not more news organizations on their trail, especially with most of the reporters skeptical about Christianity, or outright hostile to it. This may be the time that Bill Maher actually did something worthwhile.
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Mad Sweeney
Randcam is the company I believe. They were left the stocks in somebody's will, IIRC, and since they didn't actually purchase them themselves, they have assuaged their own guilt in the matter. Besides, aren't the victims of their military weapons going to be destroyed "soon" by "Jehovah" anyway?
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Anony Mous
As said above, liquidity is a real problem in the WTBTS.
A lot of European countries for example can't have non-profits keeping a lot of money sitting around in savings so that money has to be continuously reinvested in properties and spent, it also can't be transferred abroad or be used for political messages (for or against) or to protect individuals (it has to benefit a community) and those things have them now in trouble with tax laws for example in France.
In the US nobody can 'profit' from the operation and they can not make that impression either to the IRS so a lot of it is loaned out again and reinvested. They can sell a lot of property but that takes time. They aren't running out of money yet, but they are running out of investors and all the pioneers they've been drumming up won't be able to share much of their income either.
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metatron
Printing tens of millions of magazines every month is a huge financial drain on them.
metatron
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No Apologies
the building of more KH, again built with free labour and tax breaks, which are never owned by the Cong,s who built them, but belong WTS.
For the last time,
local congregations hold the deed to their Kingdom Hall, not the Watchtower Society!!
Posting untrue allegations just makes ex-JWs look either misinformed or intentionally deceptive.
No Apologies
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designs
$1Billion a year in revenue, not bad, but they are small potatoes to the Presbyterians, Lutheran, Methodists, Baptists etc...now there are the Pros in reaching into peoples pockets
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sir82
There is a difference between cash flow and assets. The WTS is sitting on $Billions in real estate in Brooklyn, but of course that is not realizable until they have their next big upstate compound built and the real estate market recovers. Meanwhile, as noted above, printing millions of books & magazines each month, and paying living expenses of thousands of volunteers, is a financial drain, and is paid for by voluntary contributions which undoubtedly have shrunk over the past 3 years.