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BSA is now apparently bankrupt (or pretending to be)...
Posted: February 18th, 2020, 11:55 am
by Durzan
So yeah, apparently our leaving may have actually ruined them a bit...
And then the sex abuse lawsuits coup de graced them into declaring bankruptcy. Interesting...
Lets discuss.
Re: BSA is now apparently bankrupt (or pretending to be)...
Posted: February 18th, 2020, 12:08 pm
by JK4Woods
What a shame...
A few years ago I worked with a couple of guys who where on the BSA national board.
They said the whole slide into political correctness happened when UPS and other large supporting companies started attaching strings to their donations.
United Parcel Service used to give $15 million to the BSA organization, and when UPS started taking flak from activists for giving money to an organization that didn't hold the same "enlightened" policies that UPS itself had, well.... the writing was on the wall.
The leadership of the BSA was so addicted to large corporate donations, that they threw out the long held conservative moral policies to appease their corporate benefactors. (Look where compromise on solid principles has gotten them...).
The BSA has a cash-flow issue. All the value of their land holding is quite large. But cash-flow has plummeted because corporate support has died off, (in spite of liberalizing their policies to appease their big donors). Because of the sex-abuse cases percolating up thru the courts, even the corporate donors are abandoning the BSA. (No one wants to be around when jury awards start rolling out...).
Such a shame...