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>
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!
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.
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?
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.
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.
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?
Many corporations have for years insured senior managers against such lawsuits. If TWI did the same thing, it wouldn't have impacted them in one large hit. However, it would affect their premiums in the way an accident affects your car insurance.
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).
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.
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.
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>
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.
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...
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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Hope R.
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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napkinlady
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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Rocky
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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DATWAY
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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napkinlady
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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napkinlady
Maybe the drain is from legal bills spent defending lawsuits and threatening jp with lawsuits of their own?
Napkinlady
Fold TWI, Fold!
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Rocky
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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johniam
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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JustThinking
Johniam,
Many corporations have for years insured senior managers against such lawsuits. If TWI did the same thing, it wouldn't have impacted them in one large hit. However, it would affect their premiums in the way an accident affects your car insurance.
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My3Cents
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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Rocky
For Arizona Corp Commission filings, it refers to the official members, which would be the crustees, most likely.
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Doze
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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insurgent
And those people counting on those bored members to pay for their retirement better start looking for someplace else to count.
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sadie
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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washingtonweather
and wouldn't that be a hoot......inventory reduction sale.....like all members need 50 blue books a piece...HAHAHAHA
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Hope R.
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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Goey
I would think that the "members" consist not only of the BOT but the cabinet members as well.
Anyone know who they are and how many ?
Goey
"Most of my fondest memories in TWI never really happened"
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wyteduv58
I bet they have to ABS at least 25% now cuz God told Rozilla to get on the ball.
Dovey....proud owner of two low riders...Dovey's Doxies...... too dumb to post pics http://gscafe.com/groupee/forums?s=9716057...a&ul=4846073735
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insurgent
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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JustThinking
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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No Way
i wish their splinter group (Geer) would fall.
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WrestlenotAgainst
Wouldn't much of the inventory be like the farming equipment and such? They do still farm much of the land, don't they?
"For we wrestle not against flesh and blood"..........but hey, I love to see a good Clothesline once in a while!
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sadie
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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Chris Jansen
Does that mean if some abused ex-Way person sued them for $48,954,586 they would go broke?
Just wondering?
Chris Jansen
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