I'm not sure exactly who your audience is supposed to be and what your point is, but I also don't care. Please stop posting now. It's too much. Or am I the only one who doesn't get why this poster has taken over a board to tell us what we already... — read more
How many violations can you find? June 21, 2014: Admission & Financial Aid rules, along with some other issues.
"We have some new readers, so I am posting this again: Please take a moment to familiarize yourself with the Department of Education standard published in the October 29, 2010 Federal Register... — read more
June 20, 2014: "Hey ED! Our operation is so bad, we are so cash desperate, that how can you expect us to wait 21 days?"
"What? Wait, what? You say that the reason you are making us wait is because our operation is bad? But think of the tens of thousands of students, and the thousands of employees." http://www.thelayoff.com/corinthian-colleges/post/5685766323699712
June 20, 2014, a day after the "going concern" cannon was fired: "Even if you are clueless and want to believe..."
"Who do you believe: Your CP who tells you "everything is fine" or all the people who sold over 33,000,000 shares of COCO. Obviously either your campus president, director, or whatever is correct and the entire investment community are a bunch of... — read more
May 28, 2014, about 3 weeks before the June 19th "going concern" announcement: "Remember when COCO was 82 cents a share"
"Some day in the future we will be discussing the 82 cent share price. Will that be when it's $1.64 or 41 cents?" http://www.thelayoff.com/corinthian-colleges/post/5722969766625280 And today COCO is trading at about 50% of the 41 cents.
May 12, 2014: "Creditors agree to let CCi go"
Yes, the creditors knew that there were problems long before the June 19, 2014 announcement, but they let CCi off the hook, and this is not the last time that will be necessary: "SANTA ANA, Calif., May 12, 2014 (GLOBE NEWSWIRE) -- Corinthian... — read more
May 6, 2014: "With $28 million in the bank"
With $28 million in the bank, how long can million dollar losses continue? http://www.thelayoff.com/corinthian-colleges/post/4825883168735232 Also, a little earlier, "What's going on here? "Total current liabilities 274,381" Ok, so CCi owes $275... — read more
March 8, 2014: Former Admission Rep discusses "Smile and Dial"
In 2009 and 2010 I was told what a great job I did, enrolling the students who were lined up out the door begging to take classes. When the student weren't lined up begging to take classes, I was blamed for not "smiling and dialing" properly. You... — read more
February 5, 2014: Financial Results release, and I wrote, "Cash down again..."
$32.8 million at December 31, 2013 versus $56.6 million at June 30, 2013. New student enrollments are down 14.4% (Quarter over same Quarter). Total student population is down 11.1%. My guess is that the "cost savings measures" involve delayed... — read more
January 25, 2014: "A downward trending stock price is an indicator of low financial strength."
I cannot believe how many see the current situation as a surprise. Back in January I wrote, "When the stock price goes from $20 to $1.50, the chance of an unfavorable Dept. of Ed. financial score goes up."... — read more
Corinthian is Shutting Down, But Its Students Are Still Stuck With Loan Debt
http://www.businessweek.com/articles/2014-07-29/why-most-students-of-for-profit-corinthian-college-wont-get-student-loan-forgiveness
Finally!
Tuesday, July 29, 2014 Editorial: Beware predatory ‘colleges’ The Everest Institute is closing its Cross Lanes campus and phasing out 125 students — after a federal crackdown accused the Institute’s parent, Corinthian Colleges Inc., of dubious... — read more
"Without due process"
Even if it is without due process, and I am not suggesting that there is any arbitrary or capricious action by ED in regards to CCi, as soon as the next Department of Education Financial Responsibility score is released, CCi would likely be placed on... — read more
Has anyone but me wondered why Jack M was so quick to sell, to give up his millions per year?
I wonder what's in it for him?
Finally!
Even in war there are rules. Nations adopt rules of engagement to protect civilians, and the global community prosecutes war criminals who flout international agreements. In the Obama administration’s war on for-profit universities, however, anything... — read more
http://www.latimes.com/business/la-fi-corinthian-colleges-disclosures-20140725-story.html
Under an agreement reached Thursday, Corinthian must now post disclosures online about the pending sale of its schools and clearly tell current students that schools will be sold. lRelated Corinthian Colleges needn't disclose financial woes in ads... — read more
Veterans Advocacy Group Puts Corinthian Colleges On Blacklist
http://www.npr.org/2014/07/27/335868125/veterans-advocacy-group-puts-corinthian-colleges-on-blacklist
Bensalem!
Bensalem! Wheres everyone at!? I just got hired and start in two weeks. Better pay and benefits. F that Bensalem BS campus. Theres a whole better world out there. Bensalem will steal your soul
What is Socle?
I've been following this board and for the life of me cannot figure out Socle. I'm outside of CCi, but interested in the progress of proprietary education
Where's our li'l redneck "biter person" Soclette?
Are you still checking in here (I know you are)? A little birdie told me you have lots of time for hanging out on internet boards lately. Been a little slow, has it? Fielding so many job reference calls has been kind of a pain, but I LOVE getting my... — read more
Why do so many think they are safe?
You know, "Socle is golden," "Heald is worth millions and will be sold," and the claims go on and on. If everything is so perfect, why does CCi have such widespread problems?
Smile and dial!
We seem to have drifted away from what is important.
Bye Bye
Following calls from Senator Durbin, Illinois Board of Higher Education bans for-profit Corinthian College from marketing to and enrolling Illinois students... — read more
******Latest News********
NO SEVERANCE PAY
It may not be 'for sale' but it's definately the end. This from 2 hours ago:
"The company just delivered plans on how it will close all of its schools, if needed." (BTW, it's for sale. Or it's closing. Either way, it's dire... — read more
For sale? Impairment testing.
I don't consider any campus to be for sale. Even the so-called Heald sale is only to avoid having to deal with, in my opinion, the lies about the $200M in goodwill. Heald supposedly, by CCi's calculations, has at least the $200M worth of value, but... — read more
What?
Did you mean to say Golden Shower?
Golden parachute
Stop crying the 401 k is safe you can live off that until u find a real job but Uncle Sam will tax it to death because your cashing it early! But most of u been with the company for 10 years plus so that should be a nice chunk of change!
12 Schools Laid Off No Longer Receiving Promised Severance
I am a part of the enrollment team at one of the twelve schools that was scheduled to teach out, therefore laying off the enrollment team. On July 8th, each employee met with HR to discuss the amount of severance that they agreed to settle with us... — read more
Veterans Advocacy Group Puts Corinthian Colleges On Blacklist
If you're not in favor of closing Corinthian Colleges, you're not patriotic. http://www.npr.org/2014/07/27/335868125/veterans-advocacy-group-puts-corinthian-colleges-on-blacklist
DOE is not required to perform stress tests before imposing its required heightened cash monitoring of schools.
I'm getting sick of all this "Obama killed CCi." This is like blaming the cops for arresting an alleged criminal. "Sure we have a bunch of people claiming the guy is the robber, but we don't have a conviction yet, so why take action?" But if we... — read more
The kill
I think this article says it all... http://online.wsj.com/articles/obamas-corinthian-kill-1406327662
Are the 12 teach out schools still open?
Or have they quietly shut them all down?