garfield

Is perpetual hand-wringing a concern or an affliction? It. Was. A. Camp. It wasn't a full corps spring training. It's auditions for prospective members. How hard is that? Did anyone expect they'd fill the corps from FL? I'm sure they didn't.

Hey George, is my presumption correct that you, as the OP, wish to keep this topic on the 2020 Cadets drum corps and not the travails of YEA!? Except, I suppose to the extent that those events affect the drum corps? With the other thread now started, I'd like some clarity. I, personally, would vote to keep this thread on the corps and let the other argue about YEA! and what becomes of it. Thanks

Once the drum corps is sliced off, YEA! can collapse and not take down the corps. The Cadets then start fresh and run a responsible million dollar drum corps like nearly all the rest, compete, win, and give a great experience. Just like SOOOOO many others in this activity. The corps has to show earnest ability and capacity to generate and pay out for costs to tour, just like every other corps on tour. Some say they'll have to put on - I say keep on - their adult pants and do like every other corps - find a way to survive, grow, and prosper. Here's a line: "Pfft... This... pfft... is the business... pfft... that we've chosen." We don't need to sit here and prod them, they know the tasks at hand better than almost anyone here. So many GREAT EDs sit behind the DCP wall of anonymity, right? Someone here took a cheap shot at calling the directors and leadership of DCI incompetent, while they sit behind a screen and lob crap at a serious discussion board. I give those brave enough to have broken this narcissist from the activity much more credit than to think they haven't thought four steps ahead of nearly all of us behind these anonymous keyboards.

I'm presuming this is true. And, based on that presumption, it's a slam-dunk-correct presumption that the current group of leaders are not going to let the $67m mistakes of the past take the Cadets organization down. It simply won't happen. First step, separate the entity. Most likely all debt incurred was done under the YEA! banner, not the drum corps specifically, and yes, even when the same person was signing. Sorry, Mike, not at you. Once I got started... ugh.

Who owes DCI $67,000? Cadets, the now stand-alone drum corps, or YEA!, the parent corp that just spit them out?

Chapter 11 is a reorg of debts. Nothing says that any suppliers or creditors necessarily get "hurt"; they'll likely be paid slower, but still paid and probably in full.

Retirement plans typically are excluded in bankruptcy. ERISA picks up any slack. My understanding is that GH's retirement plan is a defined-contribution plan, not defined benefit, so his value would just be rolled to his own rollover IRA.

And, despite your proclamation, individual charitable donations dropped a whopping 1.1% to just under $300-BILLION. That kind of "guts" your claim. See, the issue is that small earners who rarely itemize never really gave that much to charity to begin with, and most taxpayers end up better off with the larger Standard Deduction anyway The answer to your question is that drum corps have been trying "to make as much money as possible" (oh, and not pay taxes on those earnings) since the activity began. Just "converting" to a for-profit entity wouldn't change that challenge in the slightest.

OK, the sky is falling. You're right. Running a non-profit is exactly not the same as your for-profit business. And, if you can't see the benefit of a little current sacrifice to keep a long-term buyer buying long term, then we'll just chalk it up to your lack of experience. Every supplier to drum corps has known for years that it's by a wing a a prayer that they get paid at all each season. Working through financial calamities is certainly not new territory for the activity's suppliers.

I don't think this will be a problem. No supplier wants to be the death knell of a venerable org like this just to settle a relatively small debt. Much more cred, kudos, and future orders comes with seeing the situation in its totality and stepping up first in line to renegotiate whatever debt is owed to not strangle the new BoD while trying to save/rebuild the org from a once-in-a-lifetime calamity. They deserve grace, understanding, and the BOTD. I'm betting they're getting that with new and clear repayment terms.

Although I wonder who today's Dalton Trumbo might be, it would be an interesting adaptation where Nick (GH) takes his love (YEA! or his guard instructor) hostage and brutalizes it, still thinking it's only for him, until, while trying to jump bail, he's shot down by a bevy of victims who corner him just as his 401(k) settlement clears his bank.

You, of all, know this is just the nature of DCP. The strength is within, not here.

Finally, I'm vindicated...

I'm just... What DOES this mean? "...current future...". You mean, like now. Or now? Now about now? Oh, now. ?? Oh, the hand-wringing... Day B Fine

Oh my, no thanks.