AGUEST SAIDI would wager that every one of the following things were/are behind it, dear Char (peace to you!), in this order:
1. They thought, due to their track record, that they would need to expand their headquarters and printing facilities, and real estate was becoming too expensive in Brooklyn;
2. They didn't foresee the decline in literature placements... and thus, donations... though;
3. As seen by what occurred in Sydney, AU, as well as in Germany, France, now parts of Russia, etc., the WTBTS has been under attack around the globe for decades and pulling out of Brooklyn for at least 20 years). The events of 9/11 probably only hastened the exodus;
4. Increasing lawsuits and their related settlements... due to exposure of what was occurring within the Catholic Church, which led folks to come forward and expose what was going on in them; and
5. Fallout from the economic crises in the U.S. and Europe over the past 6-7 years.
So what? So, behind it all the WTBTS is a corporation, after all... with shareholders. The purpose OF a corporation is to make its shareholders money. If they don't need to pay dividends... or have SOME profit... why have shareholders? Why not simply be a full-on non-profit, with merely a Board of Directors? Even if they don't pay out dividends the shareholders HOLD A SHARE... in the VALUE of the ASSETS of the CORPORATION. From Wikipedia:
A shareholder or stockholder is an individual or institution (including a corporation) that legally owns a share of stock in a public or private corporation. Stockholders are granted special privileges depending on the class of stock. These rights may include:
The right to sell their shares,
The right to vote on the directors nominated by the board,
The right to nominate directors (although this is very difficult in practice because of minority protections) and propose shareholder resolutions,
The right to dividends if they are declared,
The right to purchase new shares issued by the company, and
The right to what assets remain after a liquidation.
Stockholders or shareholders are considered by some to be a subset of stakeholders, which may include anyone who has a direct or indirect interest in the business entity. For example, labor, suppliers, customers, the community, etc., are typically considered stakeholders because they contribute value and/or are impacted by the corporation.
Shareholders in the primary market who buy IPOs provide capital to corporations; however, the vast majority of shareholders are in the secondary market and provide no capital directly to the corporation.
http://en.wikipedia.org/wiki/Shareholder Some other sites to help folks "see" as to this truth:
http://legal-dictionary.thefreedictiona ... hareholder http://www.investopedia.com/terms/s/sha ... z2ApOMk6f7 And if we think the WTBTS doesn't have any value... or assets... then we're totally overlooking the VAST real estate holdings "her" [very] fat butt is sitting on!
These shareholders OWN shares (initially purchased at $10 per share) in the publishing corporation that is SHELTERED by the religious organization. Don't believe me? Look up "tax shelter". Better yet, check these sites out:
https://www.google.com/search?q=religio ... =firefox-a).
Because the U.S. Constitution allows for freedom of religion, however, we can't stop folks from "donating/contributing" to a religion as a "charitable" donation (which is what the members do). The corporation is responsible for INVESTING these donations... so that the organization best benefits and the "benefits" of religious influence are furthered. What of the PROFITS of such investments, though? Back into the NON-profit entity.
How, though, do these shareholders make money... if the corporation doesn't pay out dividends? BY SELLING THEIR SHARES. Do they do this on the open market? I would say some shares no... and some shares, yes. Depending on the kind of share. If we think there aren't silent, non-JW investors in the WTBTS... we might be fooling ourselves. While there may be a caveat that the BOD has to approve a sale and subsequent buyer, you can bet shares are sold... and bought.
Given the threats, planned relocation, unrealized increase in literature donations, lawsuits, and the economy (notice, they sold a few properties for less than market/asking price!)... "profits" are down for them... and thus for their shareholders. Easiest way to make money? Liquidate.
I hope this helps and, again, peace to you!
YOUR servant and a slave of Christ,
SA
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