InquisitiveScouter Posted February 7, 2023 Share Posted February 7, 2023 10 minutes ago, Eagle1970 said: In the case at hand, what is the probability of Chapter 7? That is a question I am certain is circulating the halls in Irving, TX Link to comment Share on other sites More sharing options...
InquisitiveScouter Posted February 7, 2023 Share Posted February 7, 2023 28 minutes ago, Eagle1970 said: In the case at hand, what is the probability of Chapter 7? Maybe we can ask Elon Musk to buy BSA! 3 Link to comment Share on other sites More sharing options...
fred8033 Posted February 7, 2023 Share Posted February 7, 2023 (edited) 38 minutes ago, InquisitiveScouter said: They either secure loans, donations, sell more assets, etc. (some form of cash infusion), or file Chapter 7. My tangent - Already discussed probably over a year ago. Chapter 7 now is a path that few would "financially" want as it makes all the money spent to-date on chapter 11 mostly wasted and restarts another legal spending spree with many, many new complexities. Different priority sequence for debt holders. Chapter 11 negotiated third party (insurers, BSA councils, churches) releases that provided a lot of cash become new independent litigation. "I think" (my opinion) is that Chapter 7 would reduce the amount injured parties receive and delay the payments for years. Edited February 7, 2023 by fred8033 1 Link to comment Share on other sites More sharing options...
Eagle1993 Posted February 7, 2023 Author Share Posted February 7, 2023 5 hours ago, Eagle1970 said: In the case at hand, what is the probability of Chapter 7? Low chance ... even after they burn through their own cash, National BSA can definitely pull money from councils. Ch7 is a disaster. 1 Link to comment Share on other sites More sharing options...
InquisitiveScouter Posted February 8, 2023 Share Posted February 8, 2023 15 hours ago, Eagle1993 said: Low chance ... even after they burn through their own cash, National BSA can definitely pull money from councils. Ch7 is a disaster. But!, but!, but!, I thought councils were independent of National!!?? <sarc> Link to comment Share on other sites More sharing options...
Popular Post Jameson76 Posted February 8, 2023 Popular Post Share Posted February 8, 2023 On 2/1/2023 at 5:48 PM, Eagle1993 said: BSA financials released for end of Dec. Summary below of BSA's net unrestricted liquidity (combination of cash on hand + unrestricted investments). Dec/January is typically the peak and then liquidity drop as insurance premium is paid and income drops. Bankruptcy costs have been dropping but I expect that to pick up ... plus they will need to make some payments to the trust at some point. We will probably see 30 - 40M drop in their liquidity by August .. so down to $50-60M. Prior to bankruptcy they were at $240M. If only all that money BSA poured into the cash sink that is Summit (north of $750 million) was available and had NOT been dumped by the truckload in West Virginia 6 Link to comment Share on other sites More sharing options...
InquisitiveScouter Posted February 8, 2023 Share Posted February 8, 2023 38 minutes ago, Jameson76 said: If only all that money BSA poured into the cash sink that is Summit (north of $750 million) was available and had NOT been dumped by the truckload in West Virginia You mean that Summer Camp on steroids that is competing with all the Summer Camps of the surrounding councils? 1 1 Link to comment Share on other sites More sharing options...
Eagle1993 Posted February 8, 2023 Author Share Posted February 8, 2023 1 hour ago, Jameson76 said: If only all that money BSA poured into the cash sink that is Summit (north of $750 million) was available and had NOT been dumped by the truckload in West Virginia After a few billion dollar mistakes it starts adding up to a lot of money. 1 1 Link to comment Share on other sites More sharing options...
Eagle94-A1 Posted February 8, 2023 Share Posted February 8, 2023 (edited) 17 hours ago, Eagle1993 said: Low chance ... even after they burn through their own cash, National BSA can definitely pull money from councils. Ch7 is a disaster. You mean pull from members and volunteers via councils. Edited February 8, 2023 by Eagle94-A1 1 Link to comment Share on other sites More sharing options...
Eagle94-A1 Posted February 8, 2023 Share Posted February 8, 2023 1 hour ago, InquisitiveScouter said: You mean that Summer Camp on steroids that is competing with all the Summer Camps of the surrounding councils? OH MY WORD! Did you see the prices for their summer camp. And that does not include tents or cots, which are extra. My Scouts were interested, until they saw the price tag My worry is that when all the council mergers start, and camps start being sold, Summit will be the closest option for us. On a different note, I wonder what those council camps that are "leased" by councils will do. Link to comment Share on other sites More sharing options...
InquisitiveScouter Posted February 8, 2023 Share Posted February 8, 2023 (edited) 1 hour ago, Eagle94-A1 said: OH MY WORD! Did you see the prices for their summer camp. And that does not include tents or cots, which are extra. My Scouts were interested, until they saw the price tag My worry is that when all the council mergers start, and camps start being sold, Summit will be the closest option for us. On a different note, I wonder what those council camps that are "leased" by councils will do. The Summer Camp near us (different council) upped their prices $200 per head from 2 years ago when we attended. A one-third increase. So, we dropped them from consideration in favor of other councils' camps who did not do the same... But... see link page 3... the Summit 2022 Summer Camp is about average market price. https://summitbsa.wpenginepowered.com/wp-content/uploads/2021/11/Summit-Bechtel-Reserve-Program-Planning-Guide.pdf Edited February 8, 2023 by InquisitiveScouter Link to comment Share on other sites More sharing options...
Eagle94-A1 Posted February 8, 2023 Share Posted February 8, 2023 @InquisitiveScouter, That was the 2022 price. Here are the 2023 prices. And note they are subject to change. That is over $100 more than what we are paying. Link to comment Share on other sites More sharing options...
Jameson76 Posted February 8, 2023 Share Posted February 8, 2023 14 minutes ago, Eagle94-A1 said: @InquisitiveScouter, That was the 2022 price. Here are the 2023 prices. And note they are subject to change. That is over $100 more than what we are paying. Well. I guess as long as they are the "Disneyworld of the BSA" might as well charge for it. Will there be lightning pass and character breakfast options? 4 Link to comment Share on other sites More sharing options...
Eagle94-A1 Posted February 8, 2023 Share Posted February 8, 2023 If I had my way, instead of summer camp, we would be doing our own HA trip. Unfortunately not only is my CC pushing MBs and advancement, but that is what the Scouts want as well. Heck the camp we are going to, which is charging $330, suggests having the last period open to take advantage of free shooting, swimming, and boating, and the comment made "you are paying for classes, need to take advantage of them." When we were looking at camps, most were over $400. Few, if any, of my Scouts could afford them. I suggested a weeklong backpacking trip on the AT, and was told it would be a wasted summer because they couldn't earn MBs. Same person said while Philmont was great, it was a wasted trip because the Scouts didn't earn any MBs. 2 Link to comment Share on other sites More sharing options...
InquisitiveScouter Posted February 8, 2023 Share Posted February 8, 2023 24 minutes ago, Eagle94-A1 said: If I had my way, instead of summer camp, we would be doing our own HA trip. Unfortunately not only is my CC pushing MBs and advancement, but that is what the Scouts want as well. Heck the camp we are going to, which is charging $330, suggests having the last period open to take advantage of free shooting, swimming, and boating, and the comment made "you are paying for classes, need to take advantage of them." When we were looking at camps, most were over $400. Few, if any, of my Scouts could afford them. I suggested a weeklong backpacking trip on the AT, and was told it would be a wasted summer because they couldn't earn MBs. Same person said while Philmont was great, it was a wasted trip because the Scouts didn't earn any MBs. Advancement over adventure. You and I both know they have it backwards. 1 Link to comment Share on other sites More sharing options...
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