Is Watchtower Having Financial Problems?

by 2tone 30 Replies latest jw friends

• 

  2tone

  I have to wonder if the Watchtower is having financial problems of some sort. At the very least they are spending more than they are taking in. Which would explain all of the cutbacks of the last decade. I was thinking of three different things currently going on with the Watchtower that all together make me think they have some problems. I welcome everyones thought or feedback.

  • We know that Watchtower is selling all there property in Brooklynn for roughly a billion dollars. They have already sold a few properties. Altogether it may take several years to sell off everything in Brooklynn and to completely relocate to wherever there going(hopefully in the heavens).
  • They have just announced the cutting back of Watchtower and Awake literature. I'm no Watchtower Wizard(i sure hope he comments and includes something about gold or silver) but those two magazines have to account for the majority of there printing expenses. Most corporations make cutbacks within a year or two of when they would start having serious financial problems at best. It seems to me there becoming very conversative with there spending which goes against the saying of you have to spend money to make money. All I'm saying is that if they had the money coming in they would be spending it and producing as much propaganda as they could.
  • This may be a small point and may only pertain to my geographical area. The Watchtower has made plans to build a ASSembly hall in Cincinatti, Ohio by selling the Indianapolis and London, Ohio halls and combining them. They have not even bought land for the new assembly hall as far as I know of. Let alone start building it. I understand these assemblly hall's will be such money making machines for the Watchtower. They claim it will cost 6-9 million dollars to build. If they had the money to build it why not build it so they have money coming in from people attending and they can charge whatever they want for it by sending the congregations the bill for it.

  I guess what i'm thinking, the things they have been doing lead me to believe they don't have the long term capital to sustain themselves which explains all the cutbacks and combining assemblies. Obviously the majority of there money is tied up in real estate in one form or another. I they dont have the liquid cash right now to build a 6-9 million dollar facility on volunteer work then they must have problems.
• 

  TOTH

  Good points. Unfortuantely if I make any kind of statement about it I would be speaking out of school since I know nothing about their finances. I am waiting to see what everyone says about this one. Nice Post!
• 

  wha happened?

  There's been some threads on this before. Bacially this corporation is behaving like a corporation. The heartless corporation will shed any part of it's body to survive, because thats what corporations do, survive at ALL COSTS. I doubt the rank and file rate at all in any of their legal and financial decision making
• 

  2tone

  Maybe I'm reading too much into it.
• 

  cyberjesus

  they have lots and lots of money
• 

  2tone

  Cyberjesus - How do we know this? Where are there lots and lots of money? I guess what I'm saying is that 9 million dollars spent on a assembly hall has to be a better rate of return than stocks or other similar investments.
• 

  wha happened?

  @tone, take a search on the threads that talk about KH renovations and the new scam regarding ownership of the KH, and who pays for it. Also check threads about how much money the DA's bring in. It's shocking, but explains why this seemingly wasteful event continues.
• 

  irondork

  2tone: They claim it will cost 6-9 million dollars to build. If they had the money to build it why not build it so they have money coming in...

  Our circuit just went through this with the building of our their new assembly hall in Orangeburg, SC. I was awe struck at how the brothers and sisters lined up with smiles on their hearts to be thoroughly screwed... "and what a blessing it is to have the penis of the faithful slave in our collective rear ends."

  They don't just build assembly halls out of their own pockets. The circuits that will use that hall must come up with a certain percentage of the money first before they will even buy the land. Then another percentage before they will begin construction. The rest of the project will be completed through a loan from the WTS to the brothers and sisters of the attending circuits. That loan, of course, must be paid back.

  Once the entire project is finished and the happy Jehovah's Witnesses in that area have forked over 6-9 million dollars for their new assembly hall, then the Watchtower Corporation bends them over further and sodomizes them deeper by charging them to use the new hall.

  Ahhh... paradise!
• 

  Heaven

  I think of all the people that could be fed and given medical aid when these projects are funded.
• 

  cantleave

  They are a real estate company first and foremost, these days. The publishing side doesn't generate revenue like it used to, since the "voluntary donations" arrangement. So it makes sense to scale back on the printing costs. They are probably counting people still " voluntarily" paying the same as they always have done for the public editions, therefor incresing the margins.

  No not short of cash, just maximising their returns.