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Working with Kids

Counseling, inspiring and teaching kids.

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  • LATEST POSTS

    • Thanks, My early Saturday AM ramblings. Today I was out at the Council camp doing some service. I ended up running into my Troop, who was out camping there. It's one of the only places they are allowed to camp. They had about 20 Scouts and 10 Webelos out camping with them. The Webelos are working on some of their AOL requirements. Surprising to me, COVID 19 seems to have galvanized the adult leadership of the Troop, and they seem determined to make things work the best they can with COVID 19. The Scouts seemed to be having fun, and were in their patrols, which I was glad to see.  The Cub parents camping with them had some pretty dire news. Seems like Cub packs in my area are folding up left and right. 
    • The number doesn't worry me for now. $1.5 billion. $3 billion. $3 trillion. That number doesn't worry me. What number worries me? How much Hartford/Century and the rest of the insurers will be forced to pay out on the policies. If the court rules in BSA's favor and declares the general liability policies valid, then the fight turns to claimants vs. insurance companies. Let them tear each other apart. BSA hobbles away. If, however, Hartford/Century and the rest convince the judge that they are out, then keep this in mind: you can't get blood out of a stone. Past a certain point, there simply is no more money to be had. Liquidate the BSA's assets (leave it with literally nothing but that which is directly given by the Congressional charter, namely, the rights to the names, etc.) and that's only $1 billion. Then they'll go after individual councils for the rest. That will be a slog; certain councils with few claims against them will survive. Others will be right behind National in the liquidation line. But even there, past a certain point, there's not enough money. They they'll go after the COs. I've noticed a lot of appearances by churches as interested parties. They see where this is going. For all those insisting this will be done by Q1 or Q2 2021, I don't believe it. I said before I'll say again: Boy Scouts of America, the congressional chartered entity, survives. The Congressional Charter's provision that the organization/corporation is "eternal" saves it as a shell: no assets, no staff, no nothing but a board (again, congressionally required). And it rebuilds not from Square One, but Square Zero or even Square Minus One.
    • $3B would pretty much force complete liquidation, to include the Councils.   I suspect the victims would then receive pennies on the dollar for their claims. 
    • I just saw this article:  https://www.latimes.com/california/story/2020-10-22/boy-scouts-sexual-abuse-claims-bankruptcy Not much new but speculation in this article ups the potential payout to 3 billion -- double the 1.4 billion estimate I've seen elsewhere.   
    • Yep., I get that and have no issue with the strategy.  I'm just suggesting there is more than one way to skin a cat, and none of them involve turning assets over to a council.
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