That's what 2 deceived MS's told a non-dub friend and his JW wife when they mentioned the WTBTS owns 51% of a company's stock that is developing engines for the US military. I know the MS's have the SEC report for Rand where warfare technology R&D is mentioned because I managed to get it to one of them without him knowing the source from whence it originated. When my friend (he does all the questioning to keep his wife from getting called apostate) asked them where they got their 411 that Rand is not developing warfare technology from the 2 dubs said, "The Society told us". This from 2 men I used to have a lot of respect for. I guess facts and figures don't mean Jack if the WT says otherwise.
But Rand Engine Company Is Not Involved In Developing Warfare Technology
by Honesty 18 Replies latest jw friends
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BluesBrother
The WTS did not deny the activities of that firm, just stated that "None of the Legal Corporations used by the Governing body in caring for Kingdom Interests own stock in Rand Cam Corp or any associate company"
They said , in a letter in 2002, that 2 brothers had made an agreement to donate a portion of the profits from the engine to the Society, unknown to the Society. The firm got taken over and the Watchtower Society got" Erroneously listed as a stockholder"
They said they received no money from this.
I can see a lot of questions that may be raised, but since they deny the connection , and their name did not show in later accounts of the Rand Cam Corp., I feel there is no more mileage in this story..
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Junction-Guy
Honesty, The WT Society has been proven a liar numerous times. They will say whatever and whenever for CYA purposes.
The WT Society still owns the stock in rand cam, right?
Why didnt they wash their hands of this stock the same way they did the UN when it was discovered?
Simple-- Its money, theres more money to be made off the US government when it comes to defense contracts.
They probably still own tobacco stock too all the while lying to the congregation members.
Perhaps we need to seek out more newspapers like the guardian that is willing to expose devious corporations like the WT Society.
Dave
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itsallgoodnow
Thanks for clearing that up, Blues Brother. I wouldn't want to use this then. What about Philip Morris (tobacco company)? I thought they had stock in that, as well... Same type of thing maybe?
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Junction-Guy
Well its simple, they will hold onto any money making stock as long as it doesnt make the national news. They warn the witnesses to stay away from the net, so they dont have to worry there, or so they think. But if 60 minutes or 20/20 did a story on the stock portfolio of the WT Society, you can bet that the stockbrokers offices would be overloaded the next day as the WT Society would try to dump any stock that gave a bad appearance.
It all about image to them, if they could do it and get by with out it becoming public knowledge, they would sell crack if it was profitable enough, but they know there is more money to be made from robbing souls.
Dave
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Honesty
They said , in a letter in 2002, that 2 brothers had made an agreement to donate a portion of the profits from the engine to the Society, unknown to the Society. The firm got taken over and the Watchtower Society got" Erroneously listed as a stockholder"
They said they received no money from this.
I can see a lot of questions that may be raised, but since they deny the connection , and their name did not show in later accounts of the Rand Cam Corp., I feel there is no more mileage in this story..
Got any documents you would like to share with the board to support this?
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Amazing1914
I made a lengthy detailed post on this a few years ago under my other screen name. The Rand corporation started out as Sky Technologies in Oregon. They were bought out by a Canadian company, which retained the US portion as Rand Cam, USA. The American owner of the stock shares that was not sold to the Canadian company donated his shares to the Watchtower Bible and Tract Society. This was properly filed with the United States Securities Exchange Commission. The filing is not in error, and the Society did own about 5 million shares.
The Society did NOT own a majority, but slightly less than a 50% share. Stock dividends were almost nothing. However, the stock value for their shares ranged between $2.5 million to $5 million (45 cents to 1 dollar pershare). The Society finally divested themselves of all shares. That is why they are no longer shown in ownership. The ownership was NOT a mistake. However, they likely did not collect any dividend income, as the stock was not producing a profit. This is common, because the Canadian holding company, which owned majority interest, may not have declared any dividend for this stock. IN other words, they kept all the profits under their Canadian holding corporation. This is common business practice to run your subsidiary corporations on starvation budgets. It helps limit liability.
However, what is not known, but far more likely, is that when the Society divested themselves of the stock, how much did they get? Whatever amount they got, it was the result of value from stock in a company that made war materials, including engines that were used in the Persian Gulf War.
I will research my earlier postings, and see if there is any information which would be useful to add to this post.
Jim W.
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sf
Watchtower Owns Warfare Technology
Watchtower Owns Warfare Technology. Watchtower Owns 50% stock in Rand Cam ...
of the State of Oregon on July 27, 1992 as Sky Technologies, Inc. On August 1, ...
www.randytv.com/randcam.htm - 5k - Cached - Similar pages -
Amazing1914
Thanks SF for the links,
These articles are based on my original research and posts. The article on Randy's site is the best, as it merely quotes the SEC filing. Whereas the Apostates.Net article is a pile of sensationalism, demonstrating utter lack of understanding of what happened.
Jim W.
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sf
So be it. I removed the one search hit. And thank YOU for the material so as I can paste it in chatroom and watch Them scurry.
sKally