Eagle1993

This is pretty funny ... sad ... but funny. Dark humor my friend...

This is what I see happening; however, National has been clear. If this takes until fall they will go into liquidation. If they are being honest (I don’t think they are) and I expect 0% chance the bankruptcy is done by fall, Eagle Scout rank will no longer be owned by BSA. It will be sold along with all National assets. Perhaps during liquidation the GSUSA will be given Eagle Scout trademark as part of the settlement. Who knows. I expect the most likely outcome is a 3 - 4 year settlement battle. Cases may spin off about HA camps, LC individual assets/camps. CO property and assets. National will find some sort of income stream to live in bankruptcy for half a decade. Perhaps by charging councils very large fees so they help fund the legal battle. Councils could then end up selling camps just to fund the bankruptcy lawyers. We will survive but the news and financial aspects of scouting will be about bankruptcy. As long as my unit has a local summer camp to go to and parents who volunteer we will be ok.

My council also does not have a summer camp. They should, but saved Cub Scout camps and sold off their summer camp.

I question that in this case. If the claimants continue to vote against the offer they can essentially force the BSA to part with core assets. They only way out is the judge enforcing a cram down but when has that every happened with a sexual abuse bankruptcy?

I’ve never heard this before. What law enforcers this?

True ... and I expect it should be better. But as mentioned previously individuals youth may not report until their 30s or 40s. So if the assault occurred on a 12 yo and in 1998 they would likely report it until 2020 on the early side. I believe that would be part of the argument to not overestimate the reduction. I still think YPT helped.

I tend to agree. That said, go to summer camp. Go to Philmont, if you can, this summer. Enjoy it now as there is no guarantee they will be there next summer.

I've been seeing more panic parents pushing Eagle recently ... I wonder if this is in their mind as well.

For me, we are at too many what ifs to really plan. My primary concerns are: - Philmont ... I have 2 crews going ... will that happen and is their money safe? - Summary Camp ... will my camp be pulled by this summer and are our deposits safe. I think, for now, both are safe for this summer so we move on. The summer of 2022, on the other hand ....

The only specific was releasing the names of everyone on the volunteer ban list. I took a look at other settlements and a couple of areas we may see changes (just a guess): So, imagine opening up scouting.org ... there may be a big button that states report abuse. The other areas I have seen is requirements for 0 tolerance policies. If a youth or adult violates any aspect of YPT and its confirmed, they are out, banned and don't be surprised if made public. The third is more public openness about policies and violations that have been reported. These are some of the non monetary changes I have seen in lawsuits.

Saturday all day events hits us hard. Overtime for custodian staff. The day of the week meeting cost isn't bad ... PWD alone is $500+ for room rental.

Nope. Just a check or cash. These are meeting rooms anyone in our village can reserve online. It costs us about $4,000 per year between the Pack and Troop. Our CO does not have a building.

Where we meet today. We don't meet at our CO. We pay for meeting space at libraries and public rental locations that are open to all groups.

No.

I've decided to stop FOS or any fundraising that helps my council. They have over 200 claims. I expect most of my funds will go to a bankruptcy settlement. I will give them the funds I typically provide post bankruptcy settlement. I'm going to recommend my Troop and Pack take a similar plan ... save your contributions and then provide post settlement.

The only message ... this bankruptcy only effects national. It has no impact on the councils, units or COs. A bit of info trickled out that we may pay into a fund but no real serious discussion of impacts. Given that nearly every council said the same thing (you can see this in media feeds) I expect that was directed by National. They may have been gaming this out, but they have not prepared us for any impact.

What they made clear is they expect 100% of assets that are non restricted. LCs haven’t shared that data so they don’t know if $300M is enough. If a camp is restricted, prove it. If you can’t they want it. Otherwise, face 10,000+ lawsuits.

A few more points. TCC clarified that there are 101K claims. They said 83K were unique. They also clarified they believe some may be fraud most most are true. They also said the data issues on many claims need to be cleaned up and have examples. (One claim didn’t list the council. When they looked they found the individual put the council name next to the Troop number in the Troop field.). Again, they think there are some false claims bust my takeaway is they believe most are real. TCC’s goal is maximum payout. They do not care if BSA cannot function post bankruptcy. They also cannot force liquidation. Their belief is that there will be no”yes” vote unless they have at least the liquidation value of BSA. If BSA fights hard, this could take years and involve thousands of lawsuits. Essential the message is surrender or face legal destruction. Give up every National and local asset (camp) that you cannot prove is encumbered. I expect most BSA camps will be lost... especially those that have any real value. TCC believes YPT is weak as there are a ton of claims post YPT. They are demanding changes. Will BSA survive? It will likely be up to volunteers putting on unit level activities at non BSA camps. It will also depend on the YPT changes.... I think it will survive but be nothing like the BSA I knew.

News starting to hit local councils. That was fast. North Carolina Boy Scouts accused of underpaying abuse survivors (wxii12.com)

I hope so. I’m just not convinced the BSA evolves quickly enough to survive this.

To be clear. The TCC legal team, accountants, etc are all billed to BSA. They have to pay them. They are not working on contingency.

They get $1M per month. The TCC lawyers do at least.

Part of me thinks National gets it. They are only protecting their “restricted” assets. If the judge decides they are not “restricted” they will go to the Trust. The TCC announced they will sue JP Morgan (likely over the Philmont line of credit). So National is pretty clear... decide if HA bases are protected and clear up the JP Morgan mess. The billion dollar question is the hundreds of local councils. Will they get it and turn over everything. I’m not convinced. COs I expect will head down the lawsuit path.

Not your fault. I hope BSA goes back to their documents and really looks at what are restricted assets and offers everything else. Then build a non CO model as I expect COs are gone.. Then settle with protection for the LCs and let the COs fend for themselves. If they do this, BSA can survive. I just don’t trust BSA’s leadership and I think they will realize this too late in the process and we will lose most of our camps.

I clarified in a later post. I agree.