I think 25 Columbia Hts was what used to be called the Squib building
25-30 Columbia Heights headquarters up for sale
by wifibandit 41 Replies latest watchtower beliefs
-
-
-
_Morpheus
I understand why some feel the wt os close to broke and i totally agree that they have a cash flow problem, but the sale of these properties will keep them afloat a long time. Reports of their demise are greatly exagerated -
Finkelstein
The reports by the WTS heads themselves of being broke is greatly and deceivingly exaggerated.
I wonder how special pioneers feel when they hear the WTS just sold off a couple of its buildings in Brooklyn to a tune close of a billion. $$$
-
LevelThePlayingField
All I have to say is I hope that those special pioneers wake up to this news about the WT being so piggish.! Those are some real bastards I tell ya. -
Finkelstein
I'm in speculation that the WTS heads (GB) are playing a game of we are broke, we need more, when behind closed doors inside their little circle they are surmising the wealth soon to be their hands.
The WTS has always played the we are poor because god's chosen ones are not supposed to be rich, according to Jesus's own words.
In this sale in Brooklyn one must keep in mind that the WTS sold off a dozen of its branches around the world to add to their coffers.
-
Mickey mouse
Do they still own 21 Clark Street "The Towers" building? I recall this was where most of the senior bethelites and GB were housed. -
DarioKehl
$400 million isn't much for a global institution. You'd be surprised how quickly it can go (or be used to play catch up after bad investments).
I worked in an R&D company whose annual budget was $250 million. That's a for-profit company, tho--I get that. But it was one hallway in one building at one of many locations and $250M wasn't even a big deal.
the bOrg is a non-profit 501c3. This financial windfall is a one-shot deal. Once they collect, they're never going to bring in an amount like this again.
I think they're in serious trouble and a few hundred million $$$s aren't going to do a goddam thing for the mess they're in.
-
Finkelstein
I think they're in serious trouble and a few hundred million $$$s aren't going to do a goddam thing for the mess they're in.
Really so you bought into the we are poor, we need more ploy.
Sorry to fracture your delusions, most likely still mentally indoctrinated by the WTS to support it.
The WTS had millions on hand prior to these big real estate sell offs.
Like I said before the WTS is spinning up a pile to make the organization look poor, they do not want to make it look like they fincaaily healthy particularly to the devoted (kept in the dark) flock.
Prior to the the 2011 sell off many of its branches around the world, what kind of financial picture do suppose the WTS had back then ?
Indicative to the wealth the WTS had just recently they forgave all renovation loans made by separate congregations, that didn't happen because they were in a weak financial state.
-
fukitol
They are capital rich but revenue poor. Expenses are exceeding income. Lett admitted it on JW TV and I don't believe he was lying. The literature placements and donations are massively drying up, constructions being halted, publisher growth suddenly at a historic standstill, and they are having to convert non revenue producing prime real estate into cash. They are desperately retrenching and cost cutting wherever you look.
I have no doubt they are sitting on massive piles of cash, perhaps a few billion, but the evidence is they are having to dip into that capital for operating expenses, quite apart from funding the new upstate complex construction. They are definitely in trouble from a purely revenue v expenditure side and having to backspin hard to stop the haemorrhaging.