any JW construction going on other than Warwick?

by Magnum 43 Replies latest watchtower scandals

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  Balaamsass2

  Thomas, it is almost impossible to get a handle on Watchtower's finances. You need to BELIEVE what they report to the Government...(who they believe is unworthy of a truthful answer, i.e.: "Theocratic Strategy").

  However the buyers of real estate from Watchtower report what they paid for JUST NYC real estate, it was over TWO BILLION DOLLARS. (This site has copies of government files for the purchase/sales on the NYC transactions: https://jwleaks.org/watchtower-properties/ .)

  Watchtower attends Wallstreet seminars for high net worth investors, the Morgan Stanley invite made the news, so I suspect a modicum of inhouse or hired expertise. I would expect a modicum of success, so 10% per annum return would be reasonable. NYC sales alone would generate 200 MILLION DOLLARS per year return. That is not including sales in other US CITIES, or STATES, ANY OFFSHORE SALES OR DONATIONS FROM (8 million ?) JWS AROUND THE WORLD. IF 8 million people simply donate $10 per month that would add 80 Million dollars per month to Watchtower's coffers. That is a lot of cash flow even if we cut those numbers in half.
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  LaFrancia

  There are many incomes, bequests, kingdom hall and branch sales, regular contributions coming in.

  Then there are the expenses: in Europe a branch has calculated that each Bethelite requires around 2 thousand euros/dollars every month to provide food, accommodation and all the necessary services including expense reimbursements and monthly donations.

  Then they have to support all the missionaries, special pioneers, circuit overseers around the world, some traveling by plane, others in cars purchased from the branches. They still have to print many Bibles and even some publications such as magazines, books and tracts and maintain printing presses. In the end what matters is the balance between income and expenditure which none of us really knows, but I know for a fact that at world headquarters they are alarmed by the chronic lack of funds.

  I forgot among the many expenses there are trials, lawyers, television crews sent around the world, agreements for confidential CSAs and I'm sure I'm forgetting something, perhaps losses in bad financial investments
  
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  LaFrancia

  Another clarification. Today in many parts of the world volunteers are not used for construction, but only partially. There are new regulations from governments and municipalities that require qualified interventions and specialized companies in the sector. In Europe, a specialized external company is used to build the new Italian branch. See the European website polonannicosta.it
  
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  ThomasMore

  Balaamsass2,

  WTC's refusal to provide financial transparency is not due to pools of cash they are bathing in. It is because the members equate divine blessings with cash. They are strapped financially and need to sell KH's to make ends meet.

  La Francia's comments are spot on and I know them to be true.