by James Jack 59 Replies latest watchtower scandals
And who are the mysterious board of directors?
Don Adams is president of the WTBTS of Pennsylvania and has to be re-elected every three years.
Some of them also serve on the committees:
http://www.jw.org/en/publications/magazines/w20151015/helpers-governing-body-committees/
leavingquietly: However, them having shares that are actually worth something... well, that's very interesting.
The WTS shares are only voting shares, according to the WTS charter. If the shares are worth money, I would really, really like to have proof/documentation of that.
You can check the WTS corporate charter and amendments here:
http://watchtowerdocuments.org/corporate-charter-amendments/
or here:
Maybe I have missed something...that is possible. The voting shares during Russell's time were bought - for a dollar each. Whoever invested the most had the most power. When the 1945 amendment to the charter was instituted, the monetary value was eliminated from the voting shares.The voting shares went from 232,266 down to 300-500.
When the 1942(5?) charter was instituted, the monetary value was eliminated from the voting shares.
dropoffyourkeylee is correct: "The current structure dates back to about 1944 if memory serves."
Pretty sure they don't have any value.
There is someone I know that is a decades-long shareholder. The only "benefit" I am aware of is that they are required to be invited to attend the Annual Meeting because they're a shareholder. Isn't that really what the Annual Meeting was originally for-- a shareholder meeting?
Haha....I wonder what would happen if a shareholder DA'd or got DF'd!
This could be most interesting if true . I knew of the "shareholding" voters but wasn't aware of their financial stake in the business success of the Watchtower org. I felt I was led to understand they were non-profit shareholders. (Was there ever such a thing?) This would be a different kettle of fish!
This makes the monetary incentive to keep the WTBTS literally businesslike an absolute requirement. It entirely validates the criticism that I amongst others have made, that their doctrines are primarily commercial decisions. Damn the belieifs and forget religious scruples...what really counts is the value of the shares!
I understand (but would welcome correction) that the shareholders are "company men", that is those whose loyalty to the org is unquestioned. Your information would make the revision in my thinking that company men have also to be well heeled and able to afford the latest in expensive wrist watches as well, even if they were special pioneers or gb members.
James Jack, could there be stock invested from before the 1944/5 cut off point?
Please reveal sources.
Ray Franz was a voting member.
The first year he left he voted by proxy, the second year he didn't bother to vote. According to CoC I think.
George
Hi Half Banana,
"I knew of the "shareholding" voters but wasn't aware of their financial stake in the business success of the Watchtower org."
I'm not aware of their financial stake either. You might be referring to someone else's post.
I agree with Orphancrow in that I'm not aware that the voting shares have any monetary value today.
It used to have back in Russell's day, but that was just a buy-in value to be able to vote. Post Rutherford it was done away with.
I should like to ask: does anyone have any idea of what happened to the stock value of the WTBTS before the cut off date in the forties and does it still continue among the inheritors of the original stock holders ...or was it realised at that time and henceforth abolished? This does require an answer.
If it continues, it would explain the need for commercial success irrespective of the requirement for simply being prudent and solvent.
Thanks Saint B, perhaps others might have some idea of what happened in the 1940s.
Please reveal sources.
From: A Great Battle in the Ecclesiastical heavens
"For each contribution of $10.00 the contributor is entitled to one voting share. While there are nearly two hundred thousand shares, and it would be an easy matter to elect some other man as president, there never has been cast a vote against Pastor Russell."
I should like to ask: does anyone have any idea of what happened to the stock value of the WTBTS before the cut off date in the forties and does it still continue amongst the inheritors of the original stock holders ...or was it realised at that time and henceforth abolished? This does require an answer.
From: A Great Battle in the Ecclesiastical heavens
"This is a non-stock corporation; it pays no dividends, no salaries, and no one has ever, as its books clearly show, reaped any financial benefit therefrom. It is supported entirely by voluntary contributions made by those who are interested in the promulgation of Bible Truths. Its work is exclusively religious."
From the 1945 charter amendment which was adopted in September 1944:
"Such nominee [voting member] shall be elected... by the Board of Directors... No member shall sell, transfer or assign his vote... be conveyed by will or other instrument upon a member's death."
