ChairTalk: Trending Topic on the Bankruptcy news

Hi All,

Shortest story:

No changes to Reading Scouting. It’s business as usual.

Slightly longer short story:

The emails & texts are already coming in on this regarding BSA’s bankruptcy proceedings.  First, below are some helpful links on the topic.

Secondly, Here is a quick 2 cents on the topic:

  1. BSA filed for Chapter 11 which is reorganizing debts.  Chapter 7 would be a going out of business fire sale.
  2. The local council is its own legal entity & is walled off from legal obligations at the national level.
  3. Local council financially stands on its own and does not receive financial support from national council.

If you really have a burning need to know more about the financial hocus pocus then feel free to ask the next time you see me.  No emails please; I type enough lengthy financial documents as it is.

– Kevin Briere

Links

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