talked about as this is what Corinthian did in their final chapter. It worked out well for them as they spun the company down into the abyss. At least the schedule was moved to June, August and October. It is good to see the death squad accelerating their cuts. Now imagine sitting in your little cell with every other cell empty. Pretty cool right! Now imagine getting robo calls all day with a system that does not work and will never work. Don't worry my pretties, you will still be held accountable for screw ups made by the previous people that left you with the mess to begin with. Have fun till your time comes.
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They increased the buyout which is laughable. No way is that offer going to increase the votes. They might as well flip off the shareholders.
OP, you're such a peon. You meant to say the Qb boot legging all the way to the bank for a td.
Don't worry, they are not getting the needed votes.
Don't worry if Obama wants the schools closed, the schools will close.
Love how they pushed the vote back because it is looking like the board won't get their 22 million. There is a special place in hades for you Greg.
ECMC is basically running the schools the same way as CCi did only under the protection of non-profit status. They still target the same public sector for potential students, use high pressure tactics and target the veterans in the same manner as for-profit companies. The only reason ECMC took on the CCi schools is to make a deal with the DOE to be awarded a new student loan collection contract. It's all about student debt collection and not about education. As the student population at the remaining schools wind down you will see more schools consolidating and more closings. The debt collection business is worth billions to ECMC so the few hundred million loss is just part of the cost of doing business to lock up the partnership with the DOE.
And it seems like UoP is calling the same play.."Quarterback boot leg."
@H9zYmp4-1hxx, "many" means enough schools to ruin thousands of lives. All of the Everest schools should have been shut down, and CEO Jack Massimino should have been prosecuted. Instead DoED practically gave the Everest and Wyotech schools away to ECMC. California successfully sued Corinthian Colleges and won $1.1B, but the company is bankrupt. So Jack Massimino and Wells Fargo (it's benefactor) got off easy. In the case of University of Phoenix, Todd S. Nelson got more than $60M from Apollo Group, another $15M or more from Education Management Corporation, and is now working on the final destruction of Career Education Corporation (closing Cordon Bleu, ripping off vets).
Camden, please define Many. In 2014 Corinthian Colleges had 107 campuses and as of today there are 27 of them left. In February 2015 ECMC under the name of Zenith Education Group took 56 of CCi schools for peanuts through a deal with the DOE. They have since closed or in the process of closing more than half of those 56 schools and more are likely to close within a year. To date Zenith has lost nearly 300 million dollars on their attempt to turn these schools into non-profit schools. Starting this June the remaining schools must become self sufficient or face closure. The ECMC board of directors will no longer aprove the funding of schools running a deficit.
@H9zYmp4-1wbp, frankly, I don't see that "life support" being cut off in the near future--not from the feds. Too many political ties in DC and in AZ. Much of the action is on the state level. The US Department of Education has done a lot to keep these schools open, even if they are not leading to good results for the students--and even if they result in a negative return to the DoED. Many Corinthian Colleges are still open, after the DoED practically gave them away to debt collector ECMC. And Education Management Corporation schools are also in business, despite a huge federal lawsuit (that was resolved).
Camden,
Spot-on. The tuitions are hella expensive attending to one of these schools. Most of the students were not silver spoon fed. They rely on the government assistance, as you've mentioned. Tuitions, pouring to these schools, are like life support machines. It's pretty much game over, if you turned them off.
As evidenced by the "I cannot make 90k a year to do nothing more than make a few phone calls" comment, enrollment reps obviously fall into the "overpaid for the jobs they do, and their experience and skillsets are useless on the marketplace" category. An attitude that also explains the quality of students UoP has struggled to enroll and retain. No focus on education, only paychecks and personal gain. Best of luck to to those milking the system until they have to return to reality. Hopefully UoP does go under because all of these layoffs are going to tank their GE reporting.
@H9zYmp4-loa, most of your pay is indirectly coming from US government funds (Pell Grants, Federal Student Loans, GI Bill). Even worse, some of those funds result in a lifetime of debt peonage for some of the working class people who are recruited by the school you represent. The only thing I can be glad of is that by doing nothing as a "dialer," you are doing less damage.
@H9zYmp4-loa Blood money
I make over 90k a year and get paid to "make dials" and have two conversations a day. My husband got laid off from here in 2015 and is struggling to make over 40k. So yes, I'm milking it and going down with the ship, alarms wailing and all.
For the life of me I cannot understand why any Apollo or UoP employee is still there. Other than the old "just here to collect a paycheck" is deeply engrained within the toxic, corporate culture there. Not all, but a lot are overpaid for the jobs they do, and their experience and skillsets are useless on the marketplace. I wish everyone well, but how many warning sirens does one need before they abandon a sinking ship?
Mmmm..Hhmmm. Need an ice cold mephequin beer!
Lot of truth here