Is the Watchtower over extending itself?

truthseeker

With the go ahead from the city, it looks like the Society will be building more real estate.

But even with free labor, these projects still need capital investment. They recently spent $50,000,000 on new MAN presses for several branches around the world.

They spend on average, about $79,000,000 a year on missionaries and other full time servants.

Paper, ink and food cost money.

Utilitiy bills cost money, especially in New York City.

Computers cost money and so do telecommunications services.

Even though they may have earned $1 billion for 2001, there surely can't be that much left over, even after slave labor is taken into consideration.

any thoughts on this?

If the WatchTower invests its assets in companies either nationally or internationally they undoubtedly have a "pile" ( of cash ) coming in every month ( in the form of interest ). I've always wondered where do they invest their money ? in " worldy" companies?

JustTickledPink

I hope they over-extend themselves... I hope everyone quits their building projects before they are completed.

But - sad to admit this, most people who are in the religion really feel like they NEED it, that being said they tend to donate and get more active when the need is greatest because they feel like they will be rewarded more or God will favor them more... I don't understand it.

We'll see though.

willyloman

They sold the Furman bldg for hundreds of millions; when these new waterfront condos are completed in Brooklyn, they'll sell those for a poop pile of money. Stop worrying about them.

Mary

Even though they may have earned $1 billion for 2001, there surely can't be that much left over, even after slave labor is taken into consideration. any thoughts on this?

My thoughts are: who gives a damn if they're over extended? I hope they are, but have no fear: they're pu-lenty of money. My brother in law (a former Dub) has a good position in one of the main banks here and he told me a couple of months ago that in just one of the WTS's accounts, there's over $9,000,000. And that's here in Canada folks, not the USA. And that's just ONE of their accounts.

This is a multi-billion dollar corporation.......while they aren't getting as much in donations any more, thanks to their own stupidity, they've still got tons of tax free money.

eyeslice

My guess is that the Society knows exactly where it is cash wise.

What bugs me though is that they are not over extending themselves in feeding the poor of this world, providing health care to the needy and offering practical assistance to thise who are suffering from AIDS. Rather, they can spent millions on new printing presses.

Eyeslice

FairMind

The WTS watches its' finances with an eagle eye. I'm pretty tight with a penny but those guys in Brooklyn are masters in controlling their expenses. They are also masters in acquiring assets. A good example is the accepting of donations for the KH fund. They loan this donated money to a congregation to build a KH and once the loan is repaid (with interest) the title to the KH is transferred to the WTS. They wind up with the money, the interest and the KH. If the local congregation ever wants to build a new hall they start all over since they have no equity. There is something perverse in all this.

FM