Eagle1993

A big part of the funding came from the BSA. They had to spend $6.8M on those ads. However, I believe you are correct that other funding came in as well. https://www.washingtonpost.com/business/boy-scouts-launch-ads-on-how-abuse-victims-can-seek-money/2020/09/01/276a0688-ec84-11ea-bd08-1b10132b458f_story.html

I don’t know the TCC opinion about this, but it seems most law firms filing objections over the offer are taking a different legal path. 1) BSA must provide at least the amount to the settlement trust as if National goes chapter 7. 2) If national goes chapter 7, there is no national BSA to renew local council charters. 3) If a local council charter isn’t renewed, then per the terms of their initial charter, 100% of their assets must be given to National BSA. 4) So the liquidation offer must be the liquidation of the entire BSA. It would help if the judge rules on this

There were various threads leading up to bankruptcy. It has been a long road. Pre 1990s, its clear that some in BSA leadership (it appears to be primarily National, but some LCs) actively hid cases of sexual abuse. There are now many quotes from BSA leaders (and other individuals including the Boys club) indicating that BSA hid abuse. This set the stage for what is happening now. BSA has seen a slow decline of participants since a 1990s surge. 2000 - 2018 ... BSA fought in court and public over gay/transgender youth & gay/transgender leaders. They managed to tick of

FWIW, we just got an invite for a council townhall about a number of topics including bankruptcy. May 19 date set, prequestions are allowed.

So ... just a quick reset ... I'm sure others can add/modify. Just attempting to see where this case stands. BSA has created a 2nd settlement offer that has 2 parts. One with a higher payout that would include LC & COs and settle their lawsuits and and 2nd that would only protect National (with a lower offer). BSA negotiated a settlement with Hartford Insurance for $650M. I believe this is only included if the total package passes (as it includes a settlement for all LCs). I don't believe I have seen a formal objection from the TCC to the 2nd offer ... but I'm sure it

All voted democratic in the last election. When it comes up to vote, its tough to vote against. The difference is that more Republican leaning states are preventing this from coming to vote and more Democratic leaning states are getting these bills to vote. It really doesn't matter ... other than I think the momentum for new states to adapt lookback windows (and thus putting more LCs at risk) will slow as the number remaining states without these lookback windows are in more heavy Republican states. Also note that Georgia's law only allowed civil cases lookback against the perpetrato

Revenge is probably too tough of a word. I think it is more of .. at a certain point, regardless of how bad the organization was, there should be some time limits in laws for civil charges. I think the prior laws were too tight ... you need to give more time than just a few years after someone turns 18. Going forward, I think there should be a limit that at around 40, you lose the ability to sue institutions in civil court, but can sue criminally indefinitely. I also have no issue suing individuals civil indefinitely (those directly involved in the abuse or coverup). I ca

I’ll step into this thicket a bit. I think there is an argument that there should be a statue of limitations for civil cases. Otherwise, what company would be able to exist today that existed in the past. Most Germany companies should probably go bankrupt over their involvement in WWII. Many American companies should go bankrupt over lawsuits from their crimes 50+ years ago. If we go back and look at actions that occurred by every organization with no time limits, I wonder if any organization but recent ones could survive. At some point, society moves on, admits the sins of the past but do

This merger is just the start. There are 112 Girl Scout Councils in the USA ... and their youth membership is at ~1.8 million. I expect they lost numbers due to Covid, but likely much more than the <800,000 left in the BSA. 16 territories and 7 councils per territory gets you to the 112 number. I wouldn't be surprised if we are headed that way. So we may see 100+ councils disappear in the next 2-5 years.

Don't forget that PSZJ Law also has offices in NYC. This may be a sign, hopefully, that they are hashing out details for a settlement. BSA knows that they cannot exit bankruptcy successfully without TCC approval. TCC knows that BSA can burn up another hundred million + of cash on legal fees ... which will never go to the claimants. They also likely know National BSA's true financial situation ... more than any of us on this forum. They likely know that insurance companies, LCs and perhaps COs are the bigger targets. So, perhaps, the BSA and TCC and sit down and work out a d

The more I look at BSA financials and this case, I expect National doesn't have much money. Summit was a financial disaster. That has been documented in Scouter.com in multiple threads. I really expect if they sold Summit, it wouldn't not pay off the debt assigned to it. Who would spend hundreds of millions of dollars on a large campground in West Virginia? BSA had major payments due in 2020 and 2022 that they haven't made. We all question how they would ever make those payments. I expect JP Morgan adjusted the payment schedule as they know the property would likely only fetch 10s o

Tough to predict. Who knows what the legal fees will be over the next several months. Probably pretty close, but then in Sept they start getting cash from new registrations. I also wonder if they can dip into their endowment. That could carry them through 2022 I expect.

There are a lot of details in the monthly reports. Basically, you can guess the big cash inflows are Sept/Oct (registrations), Jan - March (Charters + High Adventure Bases). There are some big outflow months as well (insurance payments). June - September is essentially a cash burn for BSA. Last year was a $44M burn. Last year they spent less on bankruptcy lawyers than they are now. Plus not sure how HA base changes will impact burn. Looks like we will almost be out of Cash by September.... but I think they can limp until the end of the year ... BSA won't last 2022 in bankruptcy.

Just reviewed monthly filings from BSA on their cash over the last year. End of Month - Unrestricted Cash Apr-20 $116,140 May-20 $117,303 Jun-20 $112,281 Jul-20 $101,059 Aug-20 $82,249 Sep-20 $68,863 Oct-20 $67,630 Nov-20 $65,534 Dec-20 $61,690 Jan-21 $52,467 Feb-21 $66,228 Mar-21 $40,724 Apr-21 $49,852

BSA likely doesn’t want to show Summit as it will prove what we all know. It was and is a giant pit where they threw and continue to throw money into and is likely worth less than the debt owed. Give it to the TCC along with the debt assigned to it. BSA would be better off.

The 2020 fees are too high. Way too high for Cub Scouts.

Forgot Scout’s Life. $235

Hello new Lion Scout. Here are your fees.. $25 - New Scout $25 - current year registration $75 - Next year registration $25 - Council fee $50 - Pack fee $13 - Shirt $10 - Lion kit $223 ... you can make the check out to....

We did the opposite. I have to charge $25 new scout signup fee + registration fees. We dropped our Pack fee for now.

Ugly numbers, especially if you look at 2019. Scouts BSA ... not too bad considering. Long term concern if Cubs don't increase. Explorer posts ... my guess a bunch shut down as I'm sure PO and Fire Departments would not look at working with youth groups during Covid. It will probably take until 2022 for this to start recovery. No idea what % would return. Cubs ... very little recruiting in 2020, AOL cross overs and drop outs as Cub Scouting via zoom is ok but not great. To me, units that survived should see a bounce this fall. The bigger concern is loss of units ... it take

If the TCC can prove the JP Morgan loans are actually unsecured debt and the HA bases are non restricted assets, that is a several hundred million dollar win. I don't expect TCC or lawyers representing claimants to let these go without a fight. (I watched groups fight for four years over ~$50M). The back & forth is expected ... the bankruptcy court will need to rule, followed by appeals process. I do think BSA (and JP Morgan) should defend their position. I'm not a lawyer, so I have no idea which side is correct. What I don't understand is how they can try and proceed with a pl

I think Venturing may fade away but Sea Scouts will remain fairly stable in or outside BSA. I see almost no value to them staying in BSA. When I talk with our local Ship, the leader spent an hour complaining about the BSA and that it provides nothing. I guess I question why stay in the BSA at that point ... create a stand alone organization without the burden of BSA overhead. On the BSA side, if they are not going to invest or do anything with Sea Scouts ... then why keep them? It is definitely concerning based on the comments above that leaders in BSA don't even know they exist. At tha

I think the money is not the reason, but spinning off non core programs still makes sense. My personal experience... several years ago my organization had a lot of variety of products with low volumes. Even the low volume products made money, but they distracted our sales and R&D teams from our core products. We ended the non core products, focused our efforts on the core ones and are growing. I don’t expect this will happen, BSA is more likely to fade under a slow moving bureaucracy than take the aggressive actions needed. They are making good choices to reduce number of laye

My bet is there are meetings, discussions, legal and insurance aspects, IT, etc. Heck, they spent time trying to merge with Venturjng and debating age limits... so they are spending time on the program. It causes lack of focus... same with Learning for Life, Explorers and I would argue STEM. Many worthy and great ideas... but we need to get back to basics and have the entire BSA professional and volunteer Corp focused on providing the best 2nd grade through 18 YO scouting program. Again, I love many of these programs, but BSA is in serious trouble and needs to focus.

Agreed. I think these programs should continue, just not under BSA. When in crisis, it’s good to relook at the mission and refocus. Merge councils, let the best take over weak ones. Same with units. With focus, you clarify the mission and improve performance of the organization.