according to ttdtt post I was correct I think? So maybe the reason their broke or cash poor is they we're unable to sell this property back in 2013, deal fell through. If this is true, then again it would explain one of the many reasons their cash poor and shutting down projects.
25-30 Columbia Heights headquarters up for sale
by wifibandit 41 Replies latest watchtower beliefs
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Finkelstein
or is it just a pressing issue that the WTS isn't supposed to be rich, most of the body of JWs think the WTS is poor and just running on a very tight budget.
........deceiving people is its core ideology and has actually made this organization grow and survive upon that deception.
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WTWizard
I hope they get nothing. That's what the organization deserves. And, with the cheap crap they probably used to construct the buildings, it is going to take more to bring them up to code than it is worth, and hence it is worth negative. -
smiddy
Human beings , being what they are , imperfect,
The amount of scandals that have surfaced from WT -HQ, in Brooklyn by there own admission in the 1980`s Watchtower , and what has surfaced since C.T.Russell`s day ,
Where is all this money from Real Estate sales going when they are still crying poor and putting there hand out for more contributions ? even suggesting children give up some of there allowance ? ice creams ? etc.
I have googled crimes committed by Jehovah`s Witnesses , and every crime under the sun has been committed by Elders down to the rank and file .
I wouldn`t be in the least surprised if in the future some big wigs in the organization get caught with there finger in the pie. so to speak,
With all the sale of properties they own outright going on you have to wonder , don`t you ?
smiddy
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nicolaou
Reports of their demise are greatly exagerated
Reports of their financial demise are greatly exaggerated perhaps but the future of this organisation will never pivot on how wealthy it is. If the WTBTS faced fines over abuse allegations that wiped out their balance sheet, if they were stripped of charitable status in most countries and even if they declared some form of insolvency - but the members still remained loyal . . . well what kind of meaningless defeat would you call that?
I've said it so many times; the Watchtower Society is IRRELEVANT. Folks always say "follow the money". NO! Stop following the money and put all your focus into reaching the people you love.
One. By. One.
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TheListener
Money aside it seems that selling those buildings would have a negative effect on the morale of the older ones in the hall. The younger ones won't care but the older ones may. Not enough to leave but just another straw on the camels back. -
JeffT
according to ttdtt post I was correct I think? So maybe the reason their broke or cash poor is they we're unable to sell this property back in 2013, deal fell through. If this is true, then again it would explain one of the many reasons their cash poor and shutting down projects.
This would make a lot of sense. If they were planning on a big cash hit that didn't go through, then they'd be strapped for cash. When this money comes in, they'll have the money they originally planned on, PLUS all the money they've shaken out of the congregations. What a loving provision from Jehovah. /barf/
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nonjwspouse
Anytime a company sells off assets without replacing them or transferring them, it signals trouble. Selling the asset and then having the cash for expenses will pay bills for a while, but it means future financial troubles. Spending that cash is money not to be recovered, reduces the worth.
Selling the KH's and not rebuilding is a signal of trouble.
Fink you are correct that right NOW they are cash rich. But cash rich is time limited with a continual reduction in the cash unless they are completely self sufficient in the income generating activities, which by common sense accounts, they are not.
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Beth Sarim
There does seem to be an obvious cash flow problem now in the Borg with all the Eldubs now fleecing the sheep and the sale of all these properties and assets. -
Phizzy
What nonjwspouse said.