Eagle1993

They realize this is probably the last major opportunity to kick around and the BSA. Given that TL prohibits gays I would never let my son join nor would he want to (just as I would never support any organization that would exclude people based on race).

I think it could. LCs, as a whole, are contributing $600M. That is 1/3 of their net unrestricted assets. We are already seeing LCs planning on possibly selling what they claimed as restricted assets to fund the $600M. I expect if all LCs had look back windows, their payout would be much closer to 2/3 or 3/4 of their net unrestricted assets … probably another $600M or so. I would hate to see that, but there are many LCs claiming no camp sales will be required for them to fund the settlement… so their seem to have assets they are not forced to sell right now. I think th

Just heard from a council… they have to sell all of their camps to cover the cost. Not official yet, so I’m holding out hope. Another council is selling their offices and camps and will purchase a cheap warehouse where they plan to have a permanent PWD track, climbing wall and a area for indoor tent camping. This next month is about to get real rough as we see the impact of $650M. It will be especially rough knowing that HA bases were protected while LC camps are being discarded left and right.

Some law firms coming out against the plan. Kosnoff Tweeted it is DOA, claimants will reject it. I don’t think it really means it is dead, but they are looking for a lot more info in the coming documents. I think this just shows that we may not be 100% closed on a deal yet. https://www.washingtonpost.com/dc-md-va/2021/07/02/boy-scouts-settlement-abuse-victims/

I found this interesting... So, the way I read this, if any local council or organized BSA is sued by a claimant, the trust will be responsible to cover the costs and losses of the LC/BSA.

Actually LCs did increase as they are taking in a $100M note. (iii) a $100 million interest-bearing variable-payment obligation note (the “DST Note”) issued by a Delaware statutory trust on as soon as practicable after the Effective Date.

I expect nearly 100% accept, so I wouldn’t be surprised if that $600M is closer to the final actual number. The limited rumors I have heard (probably fourth hand) is that the LC yes/no to the settlement is along the lines “BSA is going to make them an offer they can’t refuse.” Yes, a LC can refuse the offer, but good luck to the SE or that council in the future. Perhaps it isn’t that bad, but the pressure is definitely on.

Each LC was given a $ amount. My guess is that if 100% of LCs sign on it will be well north of $500M. The $500M is the minimum number (probably assuming x% decline). TCC may know which LCs have already said yes.

Insurance company pre-emptive request to cancel July 20 hearing. https://casedocs.omniagentsolutions.com/cmsvol2/pub_47373/67a7e046-be35-4050-bd0c-ccdbc228bfc2_5461.pdf

The document is 40GB with 39GB of "please, please, please" followed by "vote for this".

3. Require changes to how the payouts will be calculated. Lower the peak for some, increase the baseline for others. I tend to agree that this will be the max $ out of the BSA, but I could see an argument that if you want the majority to vote for it, and most are looking at 1% of their claim being paid out, they may reject the deal. So, it could be claimant lawyers arguing with TCC over the Trust payout calculations.

I do wonder if you don't sign on the settlement, would you have the option of suing the LC (and their insurance company) in the future if SOL lookback windows change. For now, you could vote against the deal unless they change the payout percentages.

They must know it is being submitted today. Does a RSA mean there is a "general" agreement on a plan that can be submitted for a vote (at least between BSA, Ad Hoc Council Committee, TCC and the Coalition))?

We have far too many councils given our numbers. GSUSA has more scouts and half the number of councils. What to reduce overhead costs… merge councils. Keep districts relatively untouched. I would love to see a 1 to 15 or 1 to 25 ratio between SEs and DEs. Right now it seems like we have too many SEs and not enough DEs.

To me, the test of this is if states change SOL windows in the future and then someone sues their LC which did not go bankrupt. How can the National Bankruptcy shield litigation of an LC that did not go through a bankruptcy procedure when laws in that state change? If I were a victim, I would probably not take a low settlement amount and reserve my right to sue the LC directly in the future (and their insurance company) pending any SOL change. I think this is where the US Bankruptcy Trustee is questioning the structure of the entire deal (that includes coverage for LCs).

They are in Ch11 .. nothing is optimal. They said they would be out of cash and may have to liquidate if they don't exit by end of summer. Take a look at the cash flow again. They only lost $1.76M in cash before the $20M (last year they lost over $5M and had far less bankruptcy expenses ... so they are managing cash better in 2021 than 2020). They have $72M cash right now. In 2020 they burned through $42M in June - August ... lets assume the same cash burn. Leaves them with $30M in September with no further transfers from their endowment. In 2020 they were actually ok on cash Se

Short summary ... they will NOT run out of cash by September, or October or even early 2022. I think they are showing $3.16M of income from HA bases; however, it is not clear the expenses.

https://apnews.com/article/only-on-ap-health-coronavirus-pandemic-7afeb2667df0a391de3be67b38495972

Program ran like normal, which was good No cohorts or group requirements Same experience. Though, some scouts liked the cohort model from last year as it kept our Troop together all week. Some changes to food service, but not onerous We patrol cook, so only impact was the elimination of 2 camp wide meals. The camp was somewhat short staffed Main challenge was college aged Scouts as colleges had reduced tuitions for the summer Also pay challenges with other businesses paying more and jobs plentiful Same as was

What is typical first year percentage?

I was at CFL ... we started going there after going to LeFeber forever (then that was sold) and hating Long Lake (I know others like it). We were at CFL for 2018 through 2021 and will miss it. The staff and program was great. We had a couple of leaders talk to someone from TFC about the sale of CFL. Basically, it came down to a need to quickly get money and not enough time to make other plans for the camp to live on. CFL was profitable for the council. However, it also had a lot of grandfathered in equipment (toliets, plumbing, etc.) that would eventually need to be replaced and requ

Just got back from camp. 30 scouts, 4 full time adults and a sprinkling of others. 300 scouts at camp. Shortages at trading post and of counselors. The camp we attended was already sold due to bankruptcy but was being leased back this summer (for the price of our picnic tables). Closing campfire ceremony was tough… singing a song about returning next year… We visited Ed Bryant as a possible replacement but I wasn’t impressed so I think we are headed to Bear Paw next year. We only do patrol cooking camps and those are getting tough to find. I’d recommend locking in

Us too. Tight timeline to respond. We were told we will know by August. They council was saying there are 19 camps in Wisconsin so no they can probably do with less. Unfortunately every council is saying that and I’m currently at a camp that was sold (in Wisconsin).

And how many rows of knots are appropriate.

https://nypost.com/2021/06/18/boy-scouts-hoping-to-reach-summer-settlement-with-sex-abuse-victims/ No comment from the TCC or Coalition.