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44 minutes ago, Algernon said:

So, it's OK if the Cadets separate from YEA in order to walk away from tons of debt? Yeah that's a sound business practice

I have no answer to your question other than to say “It might be OK.”

I’m someone who never had much to do with debt. I avoid it.  But, corporate law has certain features that are admissible to use. When a wealthy corporation (or individual) uses every legal tool available to preserve itself, I’m fine with that.  

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4 hours ago, JimF-LowBari said:

So if a corps has a new parent organization then they are not the same corps? Not buying it.

If the new parent organization is formed expressly to get the corps away from a bad financial situation they themselves created with their former parent organization (even if it was through malfeasance on the part of former management), the situation is more complex, to some of us anyway. Clearly YMMV.

Edited by Slingerland
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11 hours ago, lifeisaround said:

Honestly. Have y’all gotten the email letting you know you got a call back? 

 

Have yall seen the books....

 

Or that one time they still haven’t paid 2018,2019 bus companies. Or spring training. Or the remainder of the staff....

 

I mean I wouldn’t know or anything just being involved since 2017.... still missing my paychecks.... 

For what it is worth, I was paid ON TIME and IN FULL by both YEA and USBands this year. 

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18 hours ago, seen-it-all said:

It's been a while since I watched the show to remember the specifics, but I was there on finals night off to the side with other staff members of other finalist corps and it was clear to a whole bunch of us that something was seriously "off" with the last few of minutes of the show. We knew immediately that they just left the door open for the Cavaliers, which of course they did. They were lucky it wound up being a tie, IMO.

I WOULD love to know specifics. I was there and have watched/heard the show many times -- I don't recall any tear. All I remember was that on Thurs/Fri, they absolutely OWNED GE...Saturday, for some reason, they finished 2nd in both captions.  Now, Cadets 1996? YIPES. (And if you ask the 1985 members,  Candide started with a HUGE tick, but other than a drum fluff on one beat, nobody else noticed.)

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1 hour ago, HockeyDad said:

Yikes is that what’s really happening?  In that case if I were a creditor I could ask the court to have them sell those nice new shiny instruments and give me the money. This is more precarious than I knew. I hope that’s not the situation but under the shroud of secrecy that exists, it’s hard to know. 

Can't sell the new instruments because they are "on loan" and actually not owned by the Cadets or YEA.

A common practice to prevent creditors from taking possession of assets!

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29 minutes ago, fsthnds said:

Can't sell the new instruments because they are "on loan" and actually not owned by the Cadets or YEA.

A common practice to prevent creditors from taking possession of assets!

Smart. 

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7 hours ago, Slingerland said:

DCI's members are the parent organizations. Not the specific drum corps. It's why orgs with Exec Directors/CEOs of the parent company have THEM vote at the Januals, not the corps directors.

If The Cadets aren't part of YEA, but part of a new stand-alone non-profit, they are part of a new entity, one that has no history with DCI. One that would, if they enforced the rules, have to observe the same restrictions as any other first-year organization. 

So yeah, oops.

 

 

The Crossmen fit that same criteria when a group from Texas formed a new entity with no DCI history. I am not sure why this is such a big deal to generate these posts. At this point, the entire basis of these anti-Cadet posts is based on supposition and unproven guesses. Why not wait until the actual information comes out from the only places that count, The Cadets and DCI?

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10 hours ago, Jeff Ream said:

yes! the 75 Muchachos tribute show!!!

The Cabs tried that already.

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3 hours ago, Fred Windish said:

Haven’t thought nearly as much about the YEA/Cadets relationship as many of you. Although, the matter of unpaid debts and how best to erase them from concern of the drum corps side (Cadets) is what this is all about. 

Would this be an ‘underwater’ restaurant chain, the common remedy would be bankruptcy, closing stores, selling assets, and coming back  smaller, but still breathing somehow, and with a clean plate of no outstanding debt.
 

Are whatever debts being discussed here the sole responsibility of YEA?

 Is the Cadets’ component in these obligations absolved by simply responding to creditors. . . . “YEA who?”

 

Next, Cadets marching merrily along their way. 

 

 


 

 

 

2 hours ago, HockeyDad said:

Yikes is that what’s really happening?  In that case if I were a creditor I could ask the court to have them sell those nice new shiny instruments and give me the money. This is more precarious than I knew. I hope that’s not the situation but under the shroud of secrecy that exists, it’s hard to know. 

This is the perfect example of what I mentioned earlier. Someone making speculation about what The Cadets/YEA might be doing followed by someone assuming it what they are doing.

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2 minutes ago, MikeD said:

The Crossmen fit that same criteria when a group from Texas formed a new entity with no DCI history. I am not sure why this is such a big deal to generate these posts. At this point, the entire basis of these anti-Cadet posts is based on supposition and unproven guesses. Why not wait until the actual information comes out from the only places that count, The Cadets and DCI?

The voice of reason...thank you sir! The cynicism and speculation in this thread is getting beyond ridiculous.

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