WATCHTOWER has posted a $40,000,000 bond ! (page 3)

Solzhenitsyn

A few things from the WT Treasurers Office:

>Stephen Lett was 100% honest in stating some time ago on a monthly broadcast that more money was flowing out than was flowing in. Of course the money he was talking about flowed out of a $40-50 billion USD worldwide asset pool. [Its going to take a lot of $40 million dollar lawsuits to make a dent]. I was reminded that there is a huge difference between annual revenues (700m-1.5b) and WWAV world wide asset values that can be drawn from.

>Times are changing. Publisher growth has slowed. In the digital world trend, people don't want magazines and books. The WT machine is adjusting to that. Brooklyn $2bn selloff + all the equipment/assets in those buildings sold off. 20% reduction in WW project costs. Investments (relatively cheap) in 20 year (cloud) data infrastructure. Free remote workers by the thousands. 3rd party outsourcing in construction, transportation, and A/V departments.

>No chronic financial problems. Just acute expenditures requiring that best course business decisions be made. As of my last conversation (02/2019) there are a thousand KH building projects going on during any given month world wide.

>The Russian Federation asset seizure rocked the GB and Treasury Dept with much indignation (like $125 million worth). The WT corp frustration was primarily taken out counsel that originally structured what was held as a "bulletproof" way for US corp to own Russian property and circumnavigate the Russian legal system. (not exact comparison but think: view towards foreign embassy property/diplomatic property in the USA)

>Constantly on the financial planning agendas: what to do when non-profit/religious assets are subject to federal/state/local taxation.

More to come.

shepherdless

Very interesting info, Solzhenitsyn.

Of course the money he was talking about flowed out of a $40-50 billion USD worldwide asset pool.

Presumably this includes all Kingdom Halls?

cofty

Thank you Solzhenitsyn.

baldeagle

Thank you Solzhenitsyn. If your comment, “Of course the money he was talking about flowed out of a $40-50 billion USD worldwide asset pool” is accurate, I’m afraid this micromanaging, life damaging religion will be around longer than many of us here had hoped for.

nowwhat?

So when you add up all the wt properties it comes to 40 billion plus? Is that what it means?

JW GoneBad

$40 billion+ in worldwide assets...if accurate, wonder how much debt & liability WT has to offset that amount!

baldeagle: I’m afraid this micromanaging, life damaging religion will be around longer than many of us here had hoped for.

This religion may be around for a while longer than we'd hoped for...but don't forget that the momentum of husbands and wives and entire families leaving this cult by high numbers is only going to get higher. The bad publicity that WT has brought on itself is not going to heal with time...it's going to get much...much worse. Don't forget what WT itself has said in it's own publications..."money (assets) doesn't bring happiness"!

Karma's a bitch!

blondie

JWGoneBad, isn't that 40 Million dollars they bonded; WTS had their assets tied up in property and have been selling it off and consolidating and trying to drop expenses. But anyone who has tried that in their personal life, they have found you can only go so far without without increasing income. I think many jws have been voting with their pocketbook and the WTS is starting to feel a bigger pinch from the decision not to charge jws for the publications and ended subscriptions.

Brokeback Watchtower

But anyone who has tried that in their personal life, they have found you can only go so far without without increasing income. I think many jws have been voting with their pocketbook and the WTS is starting to feel a bigger pinch from the decision not to charge jws for the publications and ended subscriptions.

So very true, the last big money grab must soured all feeling to contribute to such a abusive power. I'm sure this is causing a major downsizing of operations that are just a little too late to save it self from major financial losses of ill gotten gains(frauds). Such delusional faith that they really are God's earthly organization has steeped them in denial to act much too late to changes in direction to plot a safer course for the Watchtower behemoth to stay afloat for decades after the internet.

WATCHTOWER has posted a $40,000,000 bond !

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