Jehovah's Witnesses lose registration as a religious community in Norway (page 4)

Beth Sarim

""They got $3B for the Brooklyn properties… where the fuck did it go? ""

Probably paying-off abuse settlements.

ThomasMore

Beth Sarim,

That is probably true. Here are some other possibilities:

1. WTC was leveraged to some financiers who made acquisition of those properties possible for many years. I am told that they told WTC that they had to be paid back when the properties were sold. It was a large amount.

2. Warwick ran so far over budget that WTC finally took off all constraints and told Construction to "just finish it - don't worry about the cost". It is thought to have exceeded $1 billion when it was completed. Some buildings remain unfinished.

3. CSA settlements have exceeded anyone's expectations, but they pale in comparison to other costs. Nevertheless, they are cash expenditures so the pain is severe. Non-JW attorneys have been hired to field many of the cases, and they are very expensive compared to free JW attorneys. Legal is overwhelmed by all the cases as statures of limitations are lifted in one place after another.

4. WTC was heavily invested in hedge funds that lost lots of money in the downturns of 2008, 2015, 2018, and 2020.

5. WTC had billions in offshore accounts and had to abide by US laws that allow such investments but have many rules on how long the money must be invested before being removed. The losses were heavy as they were unable to move the money as market downturns occurred.

6. The aging Bethel families, CO's and SP's have stipends and health coverage direct from Watchtower. The costs are significant. Efforts to reduce costs include retirement homes with dedicated nursing/doctors where costs can be more predictable. Some SP's have been dropped from the coverage and many Bethelites have been sent out to fend for themselves. Young Bethelites have been invited in to reduce costs but it is not a solution. The down-sizing continues.

6. Donations are down because so many are leaving. Elderly who were the largest contributors are passing away. Younger JWs do not contribute as much as their parents did.

7. Special projects like the Argentina facility have been pricey, built with commercial labor. They are the "GO BAGS for the GB" in all likelihood.

There are other drains on their cash but these are the big ones. If there was malfeasance in Treasury, it is not known at this time. They are hurting financially, thus the continual pleas for money. What comes in is considerably less than what is needed and they cannot get a handle on spending.

Beth Sarim

Warkwick went heavily over budget. I know, they didn't spare much there. Nothing really spared when it came to spending things on that one. Made it look extravagant as possible.

stan livedeath

i love reading all this.

Beth Sarim

With the ''aging'' bethelites and what not,,,the Borg can be totally heartless like they usually are and ship the 'aging' ones and the 'infirm' ones home with the expectations that the local congregations and their families will take them in and care for them.

LongHairGal

THOMAS MORE:

Those are a lot of reasons for the ‘drain’. I had no idea about their investments and am not knowledgeable about those special building projects so you must ‘know’ people.

But, as far as people leaving I am well aware of that! Many older JWs are passing away (Boomers and ones older). Many Witnesses have walked away in the last two+ decades, myself included..

No way will younger ones left contribute as much as their parents did!.. I don’t believe anybody will ever see the like of those old ‘faithful’ ever again. They ‘bought’ it all, hook line and sinker. However, they weren’t poor and were collecting pensions!

This must also mean things can’t be looking good at congregational levels. There are many ‘needy’ in the religion (too many in my opinion), because of following the dictate that they ‘shouldn’t get careers’. That’s not counting the ones kicked out of bethel..

Now that there are fewer elderly to go up to privately with an envelope for money to give to broke pioneers who never planned - this won’t be good for anybody in congregations expecting handout$.. Any responsible people left in congregations are going to be pestered.. Sounds unpleasant to me.

RULES & REGULATIONS

But, as far as people leaving I am well aware of that! Many older JWs are passing away (Boomers and ones older). Many Witnesses have walked away in the last two+ decades, myself included..

Hellothere

Think leaders really thought, let's preach all over and then end will come. This organization is really not build for this day's or this situation. All resources we're put on preaching. End never came as they thought. Only thing they can do in reality is sell everything and go online. At least it gonna keep org sustained for a will. Reminds me of what Jesus said about building house on the rocks or sand. Watchtower Is a sand castle. They don't have anymore options then going online.

LongHairGal

BETH SARIM:

That is precisely why I am glad I am not there anymore.

They would have every expectation of going up to responsible-looking people there and asking for money for these other people. This would not be tolerated by me.

I would be the victim of a double whammy! I got criticized and shunned for working - and if I were stupid enough to STILL be there I could count on these detestable hypocrites coming up to me with their envelope!.. I have no use for them. I would end up having to tell some idiot off! This would be the scenario, unfortunately. 👎

ThomasMore

Vidiot, WTC is making more than their share of unforced errors. This is an indicator that they are panicked, have lost control, are desperate. They are spooked over apostates, attendance in person, government inquiries, CSA lawsuits and more. Their reactions speak volumes about the dire state of their situation.

Jehovah's Witnesses lose registration as a religious community in Norway

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