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TWI 2003 Financial Report


IMF777
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Interesting...

On page number 9a it states

This corporation DOES _ x_ DOES NOT ___ have members.

I know VP used to say TWI had no members and that the only official members were the three trustees. Do you think that's what this refers to in this Financial Report as well?

Hope R. color>size>face>

What a long, strange trip it's been!size>face>color>

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At least the number is smaller this year!!

It must be all the "get out of debt so you can prosper" teaching they have been doing. God is blessing that ministry big time by just showering abundance on them!

And their followers are increasing and propsering so much that the abs is just soaring!

NOT!!!!!!

Napkinlady

Fold TWI, Fold!

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Well, as much as I'd like to say that's good news, the economy has been down the tubes (do you really think most twi slaves make their money in the stock market?) and $6,000 (approximate difference between the two years) is not a material change when compared to $49 million.

My point is that this report does not tell us that they have taken a nose dive in followers.

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While I know very little about TWIs finances, I would say that with as much as the market came back this past year unless they invested all there money in Lucent Tech. they should have been UP like most other investors. So that tells me they are for sure losing much revenue from walking away members. But what do I know?

WAYWho?

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I believe the last financial data showed that about 22 million was invested in short and long term bonds. Even if it was all in government bonds averaging about 3%, they would have gained well over half a million just from interest. If we use a more realistic figure of 5%, it would be well over a million dollars a year just in interest.

For their assets to EVER go down means a loss of income from somewhere. This indicates that their abs is not enough to cover their expenses this year even with a boost of over half a million from interest.

OR they had to pay out something large from their saved up stashes to significantly reduce the amount they were collecting interest on.

Granted it would take forever to actually run out of money on their part with so much stored away and invested to live on, but it does speak volumes.

Napkinlady

Fold TWI, Fold!

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Well, first... that's not a P & L. It's a non-profit balance sheet.

IF we knew the composition of the investments, we could reasonably test the assumptions.

Do we know what has happened with Lucent over the last year or so? It didn't necessarily match the overall performance of the stock market.... but I don't know.

Also, we don't know what they did as far as changes in operating expenses.

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According to the financial figures from '87-'01 they dipped down to just over 30 mill in 90/91 then jumped back up and took another dive after the purges in 94/95 and then climbed back up to well over 40 mill again. What I'm wondering is why didn't the Allen and Parker lawsuits dent them very much? Do they have lawsuit insurance with Lloyd's of London?

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quote:
Originally posted by Hope R.:

Interesting...

On page number 9a it states

This corporation _DOES _ x_ DOES NOT ____ have members.


Hope, I suspect that the word "members" has some legal definition that applies in these situations. I don't think it applies to anything VPW said (not that what he said could be trusted anyway).

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Not unlike many for profits it appears that TWI is into asset preservation and crisis management. With no shareholder interest involved the act of preservation only benefits the board and it's employees. This is how organizations lose thier original purpose and only protect the interests of those running the organization. Corporations are governed by state and federal laws that specifically state the reason for having directors. Directors are supposed to operate in "good faith" when carrying our their duties as directors. The Lectric Law Library's definition of "Good Faith-Honestly and without deception". Furthermore, most boards are comprised of independent thinkers who are not only allowed dissenting views, those views are encouraged to insure that actions taken by the board are debated openly and honestly (within the board/there are rules that govern this too) before such actions are taken. Dynamic corporations do not attempt to fill the roster of thier directors with "rubber stamps". When a board attempts to isolate itself and operate in a conspiratorial manner toward inside or outside critics, that board has essentially abandoned at least the "spirit" if not the letter of the law. Until this organization cleans itself up in how it's board functions there is no real purpose for it's existence other than for the self interest of those board members.

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The inventory totals throughout the years are ridiculous in comparison to a 600 bed medical facility. What do they keep in inventory?

Being a Materials Manager, inventory levels are to be as low as possible at year end.

Whoever is in control of the purchasing and receiving department needs to get in touch with me. I guarantee an enormous savings in order for TWI to give larger bonus' to their mog's.

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Well - I know that when a new book comes out, it won't do for a married couple to just purchase one of them. Each of them has to have one for their own study purposes. Same with the Way Rag - a married couple has to have two subscriptions, and if their kid or kids are grads, well, you get the picture. But that would only account for a very small part of their inventory.

I think a lot of their inventory is probably stuff left over from their heyday - when 25,000 would show up at a ROA and they needed chairs, tables, etc. Not to mention those 5 stall porta-johns! I doubt those would sell even if they auctioned them off!

Hope R. color>size>face>

...I don't know who I am but life is for learning... we are stardust...size>face>color>

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They gave away PFAL books a few years ago. Anyone who wanted one could have one - no charge. Some people took a few so they would have them to give away to people or to have a book in better condition than the original one they owned.

About year or so ago they started a teaching series on the book. How f***ing stupid! They had given all the books away and didn't have any to sell to the new people (like there really are any new people), to the kids who didn't have one. There just werent enough books to go around.

At least that section of the warehouse is empty.

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Insurgent,

It actually fits the pattern they set with LCM's class. Many times in that class, items or ideas taught in PFAL are referenced as if the student already knows them. It's SOOO weird. The class is kind of for new people, kind of not, kind of new stuff, kind of old. Hey, wait, "something old, something new, something borrowed (ok, a lot!), something blue (book)!" Now it all makes so much sense...

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equipment, furniture and machinery would be considered capital equipment and would be subject to depreciation. Inventory is considered items which are materials (food, paper supplies, ribbons, etc) which are used and purchased within a 30 day period.

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