Thread regarding Corinthian Colleges Inc. layoffs

Camden, waiting for your disclosure on ECMC evil values. In the mean time, can you provide your thoughts on this?

There is a community college in Illinois (College of DuPage I beleive) that is highly touted as the vision of good for all other community colleges. However, it appears that this school is being investigated by the AG for gross financial misconduct. In addition, it is alleged that the institution increased credit hours earned in order to increase revenues received from the state. Here are some cited examples:

Built a 5 start restaurant and hotel so that students could experience the working environment as part of their education. The restaurant losses $2m per year. In addition, the President and various other directors eat their up to 2 times a day -- and bill the state for their lunches (business meetings). Furthermore, they have cited examples where they are ordering $100 bottle of wines for a meeting.

The president has created a stellar wine cellar -- that has been covered in various California wine magazines. The wine cellar is used to support the 5 star restaurant.

It was discovered that the college uses an accounting practice that was discontinued in 1996. The end result was the ability to non-disclose travel reimbursements, no bid contracts, lunches and various other expenses totaling over $300m. The no-bid contracts were awarded to board member businesses of family friends.

It was discovered that the college is paying for the presidents exclusive gun club membership and various vacations. For example, a safari in Africa.

The president has received a vote of no confidence from the teachers. In fact, they have been protesting (loudly) all of the misconduct that is being alleged. However, even with all that has gone wrong, the board has decided to name a new building after him and have provided him with a golden parachute totaling $800k when he retires this year.

A retired police chief, and 8 year program director at the college -- resigned over alleged misconduct with credit hours being applied in the law enforcement program. He refused to sign off on the transcripts. The president is at the center of the alleged opportunity centered on artificial credit hours. The artificial credit hours inflated revenue and student population figures reported.

Camden -- just wondering if this is something that you will be looking into? Something that maybe you and Dave can work on together. The abuses at this college go on and on.

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| 572 views | | 2 replies (last April 3, 2015) | Reply
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2 replies (most recent on top)

The only thing Camden Kid has been studying these past few months is his navel.

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@Anonymous87387, currently, I'm studying "techniques of neutralization" in white collar criminals.

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