pepperheart: I believe you're right, that they did invest a lot of money into preaching, weather it is the hard copies of the publication, web servers, video productions, etc. That's why there is still the possibility that they paid off debts and are in currently spending more than they make until all that money is used up. That could also be a possibility.
Moving to warwick: 1 Billion dollars in profits so far.
by StephaneLaliberte 18 Replies latest watchtower scandals
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Fisherman
Moving to Warwick (alludes to war wicked)
Why move ?
1. For what wt property in kings county is being used for, the real estate value has maxed out.; however, real estate developers can make money on the property by converting the buildings to residential/ commercial.
2. WT purpose in Columbia Heights has been fulfilled.
3. WT does not need to run a factory and church in prime residential location.
4. Need to consolidate WT operations in customized location instead of spread out buildings in the Heights.
5. Tax risk, Eminent Domain risk, pressure because property is needed for a better use at its location, safety issues.
6 WT financial mavens have determined that it is better to have the cash than the properties
7 Either WT has reason to believe that the gt will strike within a couple of years and they want to get out of the way or the WT movement is moving to a Christian living message while the WT waits poised at a remote location for the realization of the gt at some unknown time in the not so distant future, taking a not so visible position in the public eye as they did next to the Brooklyn Bridge, Downtown Brooklyn, The Watchtower sign over the Brooklyn Harbor, et cetera.
It just seems to me that the WT realizes that they do not need to be in such an expensive area anymore to do what they do, understanding that wt property is needed for housing and other secular use. They can use the money they make from the sale to get bigger, better and cheaper, and better invest the rest of the money to make more money to continue to finance WT movement rather than sitting on the Brooklyn Heights property which they do not need anymore and and from which there is not too much future with anymore financially -which seems to me is a major reason for moving to Warwick.
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Fisherman
I did not want to start a new thread on this, but has anyone been to NYC lately? -Buildings are going up everywhere! And I mean high rise buildings and hotels EVERYWHERE! and especially in Kings county in the downtown Brooklyn area. WT move corresponds with and fits in nicely with all the construction. And by the way, the factory buildings by the BB are occupied already by commercial tenants. The area is starting to take the form of a commercial area with stores and shops with glass storefronts and signs and neon lights on the street level floors where the WT factories used to be. It is a different world!
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Vidiot
Life is to short 2 - "...This way they are tucked away and it would be a lot harder for some off balanced victim to take them out..."
On the other hand, since it's more isolated, there'd be less collateral damage...
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Vidiot
Chook - "With a billion bucks they could buy a decent remote island..."
Who's to say they haven't, and the Warwick compound isn't just misdirection? :smirk:
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Fisherman
About the structural integrity of the buildings that are going up in Kings county, in case of earthquake run away from these buildings made with cement instead of steel beams. The bridge with the Polish name is also being built with cement or concrete except for the steel cables holding up the roadway. I suppose it is much cheaper and the builders aren't banking on or expecting any disasters to theses structures. -
joe134cd
Considering they spend just over $200 million a year just to service their staff, then $1 billion dollars in the greater scheme of things isnt a lot of money. Let's say the total cost of expenditure is around $500 million. Wt has a total worth of $10 billion . It could all be over in less than 20 years, and that not accounting for law suites, charity loss, or inflation
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Gorbatchov
2 bilion dollar now. Thanks to the Trump family. (:
And not one dollar used to help the poor.
G.
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Vidiot
I gotta say, this very nicely explains why the digs at the Warwick compound are way more swanky than the old place.