It's ridiculous the way they try to spin what is by every reasonable definition contraction as expansion. I see tithing in their future.
LEAKED: WHQ Accounts: 2016-2020 Budget
by Fay Dehr 138 Replies latest watchtower scandals
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respectful_observer
Having to "explain" in painful detail the basics of what a budget is and why its necessary as if they were speaking to children instead of finance departments of national organisations seems absurd in the highest degree! Obviously budgeting on that scale requires more skill than a simple household budget does, and they should be providing the training to each branch on how to manage complex budgets, not just speak to them like babies and tell them what a budget is.... no wonder they're in a financial mess.
As someone pointed out on the parallel discussion on reddit, Seinfeld had a great skit back in the day how doctors condescend when explaining medicine...."the circle or the tube". That's basically the same approach these guys took with budgets:
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never a jw
If the Governing Body runs the finances and the spiritual well being of the organization, what the heck does the Watchtower do? Yeah that Watchtower that Gerrit Losch doesn't answer to, receives orders from, doesn't pay him anything?
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never a jw
how to budget for unexpected large outflows of accruals of liabilities? (video five, minute 7:00)
Easy, keep an eye on all the child sexual abuse cases judgments during this year and plan for a future increase.
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slimboyfat
Yes the GB seems to have this idea that they can cut all the services they provide to publishers and yet they will get the same level of contributions. In reality JWs can see the cutbacks and will reduce contributions accordingly. So they will not get the financial benefit from cuts that they expect and their financial crisis will get even worse. Throw in increasing legal costs and bankruptcy/collapse begins to look not only possible, but likely.
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cofty
I think these 3000 properties earmarked for sale might be in addition to kingdom halls. This online presentation took place in 2016 but the programme to identify kHalls for sale and merger is ongoing since then.
Edited to correct date.
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zeb
I watch this with interest as the lack (?) of funds is part of having a rank and file with little or no education for too long and now as they age have also buggar-all in retirement plan funds to give either. Many older folks may be also feeding their own now adult offspring who likewise have the lowest jobs with the lowest incomes. .. and reports indicate massive losses via hedge funds year on year also operated by people with what a high school diploma?
something about reaping and sowing comes to mind.
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Slidin Fast
Dis I understand correctly that they require a budget cut of 25% over 5 years? That is a monster cut back, in the commercial world a 2% loss in profits create a stock market run, 25% is an existential threat.
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slimboyfat
We should remember that all the cutbacks and cashgrabs in 2015 were supposed to deal with their financial crisis and get them “back on track”: confiscating congregation funds, selling branch buildings in New York, London, and elsewhere, cancelling projects, cutting staff and bethel services. Yet three years later how is it going? Did these measures bring relief?
Apparently not. Because in 2018 they had to go even further: cutting yearbooks, magazines, nearly all printed material, no Bibles in Spanish. Internally they are insisting on 4% cuts from all branches in 2018 and 2019, on top of the cuts that have already been implemented. And everywhere around the world legal and financial pressure mounts. They are not emerging from this financial crisis, the crisis is deepening. They rightly have been criticised for not signing up to the fund for survivors in Australia. But apart from unwillingness, perhaps they simply cannot afford it. As in, not just unwilling to spend the money, but literally don’t have the money at all. Unless they contemplate closure, bankruptcy, collpase, whatever you want to call it.
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ttdtt
A ploy to extract more donations.
Thats all.