It was a surprise and a bit shocking to learn that the Boy Scouts of America organization is having financial problems and may have to file for bankruptcy.The organization said no immediate decision …
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It was a surprise and a bit shocking to learn that the Boy Scouts of America organization is having financial problems and may have to file for bankruptcy.The organization said no immediate decision is expected to be announced soon.Declining membership and sex-abuse litigation are among the reasons for its financial problems.The Boy Scouts have hired a law firm to assist in a possible Chapter 11 bankruptcy. That has led to much speculation about the future of the organization.Chief Executive Officer Mike Surbaugh said the Boy Scouts have a social and moral responsibility to fully compensate victims who suffered sexual abuse during their time in Scouting, and an obligation to carry out the mission to serve youth, families and local communities through Scouting programs.He apologized on behalf of the BSA to those abused during their time in the Boy Scouts.Membership is a problem. BSA has about 2.3 million members now, down from the peak years when membership was about 4 million. Allowing girls to join has caused some problems. The Girl Scouts of the USA filed a trademark infringement lawsuit against BSA for dropping the word “boy” from its flagship program in an effort to attract girls. The new name is Scouts BSA rather than Boy Scouts. The parent organization will remain the Boy Scouts of America.BSA is a victim of the life and times of America today.