exitmusic
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Posts posted by exitmusic
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1 hour ago, George Dixon said:
Are you in the medical industry now? I’m losing track of your area of expertise
I am capable of reading materials published by actual experts.
It is not in any way controversial to say that staying home is the best course of action, because it is. I realize that people will not stay home -- I myself am currently at my office, for instance -- but that's a choice.
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Jeff Davis... like, Jefferson Davis?!
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GH publishing a book would be just the dumbest thing he could do. Which means, of course, that he will do it and open himself up to all kinds of civil charges because he's a narcissist who can't keep his stupid mouth shut and I know he's reading this and smoke is coming out of his ears because he can't respond or his lawyers will withdraw.
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On 3/7/2020 at 6:04 PM, Terri Schehr said:
What would you have us do? I’m going out for dinner tonight. Should I stay home instead?
Statistically, absolutely you should stay home. This disease is going to spread logarithmically and every human interaction is a potential transmission.
Obviously it is not practical for everyone just to stay home, but it is absolutely advisable not to go to gatherings of people.
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19 hours ago, Terri Schehr said:
Just live your life. You’re young. It’s mostly dangerous for the elderly.
aaaaaaand that's the attitude that's gonna get more elderly people killed.
Everybody wash your #### hands and don't breathe on each other.
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21 hours ago, Jeff Ream said:
So what’s the deal?
My guess based on NO INFORMATION: he pleads to several misdemeanors, registers as a sex offender, gets a bunch of community service and several years of probation, and stays out of prison.
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On 3/6/2020 at 10:58 AM, MikeD said:
Can a person admit guilt, by taking a plea bargain, and then appeal the verdict?
No. We don't generally allow verdict appeals anyway. When you hear about an appeal from a jury trial, it's basically the convicted arguing that, "But for the way the judge ruled on [some motion], I would not have been convicted," or "Here's a bunch of new evidence that was not available at the time of the jury trial."
Plea deals generally also require the convicted to agree not to appeal.
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10 minutes ago, fsthnds said:
Cadets can fundraise without a 501c3. The bottom line is the DONOR cannot take any tax credit without the 501c3. Be careful if you donate now as your donation would not be tax deductible. My recommendation would be wait to donate until they have their non-profit status confirmed.
I know with the IRS that can take several months or longer. Especially if you are a new identity with no previous filings.
100%
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2 hours ago, garfield said:
Wait, what? "...in place..." before what, this webinar? Seriously?
These are STAFF people. You're talking about BOARD people. The staff is in place, why get rid of them to "start fresh"? Were they not competent? Don't you think the current leadership has enough going on that trying to hire staff is a not-justifiable waste of energy?
They've given a date by which they say they'll have a BoD in place.
Through all of your criticisms here, I'm having a really hard time following any sort of common theme or logic besides you're just not happy. If your theme is to just "Throw them all out and start again, fresh" (as you've hinted) just say so.
Again -- who taught you corporate law?!
A corporation literally cannot exist without having a board of directors in place. It's a legal impossibility. If a corporation has no board, there is literally no corporation.
The way you start a corporation -- and we know now that they have not -- is to file the Articles of Incorporation with the relevant state Secretary of State. In those Articles, you are required to name the initial board of directors. There is no way around this.
What we have here is a loosely associated group of people with a "plan" that they won't share, who seem to be repeating past mistakes.
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2 hours ago, garfield said:
Cadets are a 501c3. Don't worry, you can give plenty and write it ALL off as a charitable contribution.
Denise Bonfiglio literally said last night that they were not.
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1 minute ago, BeachBum said:
But they also said they raised a ton of money last year so why change it if it ain't broke? They really should be looking at new ways of raising money in addition to what they're already doing.
They decidedly did not raise a ton of money last year. They didn't even have the money to buy horns this year. A generous person bought the horns from Yamaha and is lending them to the corps for the summer.
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2 minutes ago, George Dixon said:
thanks for the summary - I had done a similar one in the other thread
agree on your concerns - however I have confidence in Denise and many others involved SO I am donating (a modest 3 digit monthly donation) but will increase that if/when more details are announced
they can gain much more goodwill and confidence on or by March 31st but announcing a STRONG board of directors that exudes confidence, independence and expertise - that would be huge for the future
but why wasn't the board already in place?! that alone makes me think this is a bit of a banana republic. one of the main criticisms that haunted GH was that the board worked for him (and enabled him), rather than the correct way around. if you're gonna start fresh, DO IT RIGHT, and we have not done that.
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Recap:
- Introduce the leadership team - Denise, Justin, Brad, Ron
- March 31 transition to a new organization
- 501 c 3 not yet handled but definitely will by March 31
- "Most" copyrights to show music have been obtained
- Guard is 50% contracted
- Percussion full
- Brass "down to single-digit holes"
- Brass knows 33% of the show
- Things are "going great" WRT the corps and the show
- Spring training site TBD
- "95%" of sponsors are "the same;" Denise "can't disclose" the few changes
- New board TBA March 31
- No new fundraising initiatives; same stuff: M&G, Power the Cadets; March-a-thon forms
Commentary:
- What are they doing? In any organization the BOARD is first and the BOARD hires the management team, not the other way around! The managers work FOR THE BOARD.
- The COO has a "consulting company" that "supports non-profits." Uh.... what?
- No spring training site?! IT'S LESS THAN 90 DAYS AWAY!
- I feel exactly zero confidence in donating to this organization which hasn't provided any clear answers about whether it is a non-profit charity or not
- ####
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dodge
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dodge
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talking talking talking
no information
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3 minutes ago, George Dixon said:
along with being a Cadet marching member from 1964-1973 and a long time volunteer, donor, owner and principal at Gen Realty, LLC and has been a principal in Equity Options Hedge Funds since 2009, a member of Inspire Arts and Music Board of Directors since 2016 (aka Boston Crusaders BOD), a key "matching donor" of the M&G Club, and further education Ohio University, Athens, OH Marketing Seton Hall University, South Orange, NJ Business Law Fairleigh Dickinson - but sure he can't run an ice cream stand. Gotcha.
Glad we're clear.
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1 hour ago, seen-it-all said:
Hmm. What exactly is he being put in charge of?
He is the "Chairman" of the new board of The Cadets.
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6 hours ago, dbc03 said:
Why?
Because Greg Pych shouldn’t be in charge of anything, even an ice cream stand in July. What a joke.
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3 hours ago, garfield said:
OK! But, no, you've got it wrong.
You said it: "YEA ran up some huge bus bills..." Yes, they did. Cadets' didn't. Now that Cadets are gone, YEA! still is obligated for any debts.
What revenue does Cadets bring to YEA! to help them pay these debts? Answer: none. What assets did Cadets take with them that can be "clawed back" in a reorganization? Answer: none.
Do not confuse reorganization (aka bankruptcy) with successor liability, where a creditor sues on a contract.
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I have to say... as an alum, the presentation that was made this weekend and live streamed on facebook left me incredibly... disappointed? I feel more pessimistic now about our chances of making it than I did before I saw the video.
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7 hours ago, garfield said:
Exactly what "Asset" is Cadets to YEA!?
"...shed assets..."?
You're looking at this the wrong way. YEA ran up some huge bus bills for The Cadets over the past few years. YEA also borrowed a bunch of money from banks over the past few years.
Spinning the Cadets out as its own entity does not absolve the new Cadets entity of its liability to pay those debts, to the extent that the new Cadets entity is a "successor" of YEA, which under the law it certainly is.
You don't just get to abandon debt by moving a business unit out the back door. If that worked, the law of obligations would not exist.
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5 hours ago, garfield said:
Not to mention that there's Chapters 11, 13, 7...
Not all of those treat creditors in the same way.
A presumption being made here is that Cadets made deals by themselves out from under the YEA! umbrella. Not even GH would be so stupid. And, frankly, because Cadets was not a separate entity with their own Fed Tax ID, I'd bet almost all, if not all, debt was incurred under the YEA! banner. In fact, a case can be made that YEA! was prudent in shedding Cadets as their biggest expense. If their biggest revenue source, USBands, can't make it anymore, well, then bank-o it is.
Not true. A distressed entity doesn't get to just shed assets without paying the debts. The legal concept of successor liability is often applied by courts to the receiving entity where the transfer was effectuated for the purpose of avoiding obligations. In this case, it is likely that YEA can't just jettison The Cadets without The Cadets absorbing any liability, such as old bus bills, etc.
And YES, GH absolutely could be so stupid.
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1 hour ago, Fred Windish said:
I’m not a lawyer, but in Pennsylvania Bankruptcy Court there is a “look back” period of 4 years. In other words, assets transferred during that period are still eligible to be attached and liquidated.
Yes, I did stay at a Holiday Inn Express many times !
There's no such thing as state bankruptcy court. It's 100% federal. There is certainly a bankruptcy court within the state of Pennsylvania, but it's a United States court.
Voidable transfers (transfers made for the purpose of avoiding being included in the bankruptcy estate) are a very real fear in a transaction like this. The bankruptcy trustee has broad power to claw back transfers that demonstrate "badges of fraud". I hope that YEA has competent legal counsel. Last time I heard, they had no counsel, so that could be an issue.
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3 minutes ago, Jeff Ream said:
Who got an award at Penn State?
https://artsandarchitecture.psu.edu/news/music-ed-grad-student-wins-teaching-award
Coronavirus
in DCI World Class Corps Discussions
Posted
Did someone say they were? Here is the current CDC guidance:
"More cases of COVID-19 are likely to be identified in the United States in the coming days, including more instances of community spread. It’s likely that at some point, widespread transmission of COVID-19 in the United States will occur. Widespread transmission of COVID-19 would translate into large numbers of people needing medical care at the same time. Schools, childcare centers, and workplaces, may experience more absenteeism. Mass gatherings may be sparsely attended or postponed. Public health and healthcare systems may become overloaded, with elevated rates of hospitalizations and deaths. Other critical infrastructure, such as law enforcement, emergency medical services, and sectors of the transportation industry may also be affected. Healthcare providers and hospitals may be overwhelmed. At this time, there is no vaccine to protect against COVID-19 and no medications approved to treat it. Nonpharmaceutical interventions would be the most important response strategy."
How can anyone read that and think that it is not generally a good idea to stay home? I am not saying that people need to barricade themselves at home, but IN GENERAL, you have a much smaller chance of catching this thing in public than you do at home. That's all. I don't know why people are getting bent out of shape about this.
https://www.cdc.gov/coronavirus/2019-nCoV/summary.html