Can't log in to ITT-Tech email any more -- says password or user name incorrect. Does anyone still have access to the message Modany posted first thing Sept 6? Not the termination notice, but the one where Modany says he sincerely regrets etc etc etc. Want to save it for my archives, as a momento. Thanks.
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ITT was as crooked in the 80s and 90s as they were under Modany. He just accelerated the bad behaviour. Remember "progammatic expansion" I have a dtr going back to the late 80s.
iwenttoitt
I think everyone should be aware that CEO, Kevin Modany is largely responsible for this entire fiasco. He and the CFO were indicted in May of 2015. It's easy to find online what they did. It had to do with setting up some kind of a loan option for students that isn't related to federal financial aid (but don't get me wrong, they were also using as much financial aid as they could, this separate system was over and beyond the student financial aid services). It was extremely detrimental to students. They used this to doctor/falsify reports and documents so it would look like ITT was doing better then they were. I believe this was a couple of years ago. These bogus numbers inflated the value of the stock and enabled Modany to be eligible and to receive his bonuses. From what I can tell, he's been making between 7 -10 million dollars annually! This villain needs to have his assets frozen and his passport taken away. I do not at all like to say things about people in a negative way (my philosophy is The Four Agreements). However, the actions of this criminal has greatly harmed many people in many ways -Staff and students. I worked for ITT for 3 1/2 years but it's the students who really are in a horrible situation. I want to contact a state official to see if Modany will get his due.
The little man, weighs about 150, 5' 7". He tanked a company in the past, deserted and divorced his wife and two children, then married his secretary who is about twenty years younger which is against company policy to date someone working for you, changed his hair style to that of someone thirty years younger. This man need psychiatric help, do they offer it in prison.
"I truly hope that all the students that loved their campus and the instructors start making their voice heard and how they got screwed by a president and his administration by their gestapo tactics."
Plenty of instructors have already made their voices heard. There were no gestapo tactics. It seems Modany couldn't be bothered actually running a real school so he threw in the towel. The company was asked for a letter of credit - not cash. If the business was so sound in the eyes of objective third parties then why was Modany unable to provide a letter of credit?
"People may ignorant but your an a@@wipe
What makes you say that?"
Root cause analysis: Ignorance
"I truly hope that all the students that loved their campus and the instructors start making their voice heard and how they got screwed by a president and his administration by their gestapo tactics"
Suggestion for former employees looking for new job. Don't say that to your prospective employer, especially if you are looking into employment in real STEM education (Science, Technology, Engineering, Math)! Remember, this president actually respects science and technology. If you want to work for institution that offers associates in applied science, or bachelors in science, or programs in engineering technology, don't follow the above suggestion!
Loaded up my stuff today, 17 yrs down the drain. Time to move on to bigger and better things.
People may ignorant but your an a@@wipe
What makes you say that?
People may ignorant but your an a@@wipe
I can see that some individuals posting here are basically okay with the sub-par education, and the maniac CEO. As long as they can convince themselves the regulations were being met! It's all about what the lawyers can sink their teeth into. As long as a few students manage to graduate, and most of those are hired into a position that qualified as "placed," and most students walking down the hallway say "oh, I am fine," then some individuals can overlook the rest. Amazing!
One of ACICS's finding in show cause continuation is that the main campus in Indianapolis is meeting criteria for retention -- the whole campus, the FLAGSHIP campus, not just one program. So if you want to argue regulations, well ITT-Tech isn't meeting them.
I get tired of these ignorant people who keep insisting there is some conspiracy against for-profit schools. When there are many for-profit schools that exist, that are not being hounded, and have great outcomes. When a school like ITT-Tech insists on having 5 times more salespeople on its payroll than academic personal, and doesn't have legitimate career counseling but instead has high pressure sales tactics, and targets vulnerable adults without giving them services in return, while charging outrageously high tuition, and the vast majority of students who are admitted and pressured not to drop don't end up with a career that pays the bills, then why is it surprising that it is targeted for closure? Its not political, its human decency.
ITT was not financially stable back in May -- when COO Feichtner said ITT had decided it had to drop permanent academic positions at campuses with under 300 students for cost measure! Without significant number of campuses being closed, to save costs. And enrollment, hence revenue, has been dropping at ITT-Tech, like a rock, for years, due to lousy curriculum, driving away talent, etc. Huge legal fees paid to lawyers, because Modany has fraud issues. Problems with Daniel Webster outcomes, problems with nursing program outcomes, on and on. Early Career Academy a total bust. ITT Educational Services has been tanking for years.
Can't have it both ways. Doesn't really make sense to say Modany on a suicide mission, "cut corners and concentrated Solely on the shareholder and maximizing the profits... Driving away great talent both ain and teaching staff alike." And then claim that he had somehow resolved all the accreditation issues! Accreditation is related to academics, remember. Can't say company and Modany had all these problems, then somehow leap to conclusion that govt is against all for profits! Doesn't make sense!
The funny thing is ... The compliances issues were all resolved previously. The compliances issue this time was financial stability, which it was stable prior to DoE raising yet again... Here is how this goes....
Itt resolves any audit issues at the time of a finding during audit. So itt was in compliance but DoE sees different lawsuits coming up... They request the assurity note. The notes are renegotiated again later and itt fronts the cash in escrow.
Still no words from acics on the company as a WHOLE not being in compliance.
DoE can't get itt head on so it goes after acics. Acics issues a show cause. DoE raises the requirement for itt assurity... Knowing this will make them look bad to the accreditor. Acics see this as not compliance because of financial stability. Show cause is extended.. assurity can't be met. Others jump on the band wagon weighing down a once financially stable company.
If you don't think that acics colluded with DoE to save their own asses behind closed doors you need your head checked. This Obama administration made it clear that they did not like or want an entire sector of our economy... For profit schools. There has been collusion all along to go after these companies.
I will readily admit that Modany did wrong... Didn't run the school like it should have and took the wheel and went on a suicide mission though it may not have been the intention at first.
The students, 99% that I have met over the years, have loved everything they have done and been involved with.
If Modany had concentrated on curriculum and the student experience he would have made the shareholders a butt ton of money in the process. He didn't do that. He cut corners and concentrated Solely on the shareholder and maximizing the profits... Driving away great talent both ain and teaching staff alike.
I hope the pending lawsuit for employees shafted by him get their day in court and receive some due severance... Some of which had contracts already.
I truly hope that all the students that loved their campus and the instructors start making their voice heard and how they got screwed by a president and his administration by their gestapo tactics.
Say what you will, but my students, the overwhelming majority loved our campus and got placed in great jobs. . . And they are more than pissed off.
Modany says, in his letter, that
" 'Council determines that [the] institution is not in compliance with the Accreditation Criteria, and is unlikely to become in compliance.' ITT respectfully disagrees with these conclusions and has been working with ACICS to confirm that our ITT Technical Institutes remain worthy of continued accreditation."
So it looks like Modany is used to schooling ACICS on how to conduct its business. Looks like ACICS, with its fear of losing its own license, and its change in leadership, isn't "working with" Modany in the way he is accustomed. Explains how he got away with his scam for so long, and demonstrates the depth of corruption here.
This is a really weird essay on the part of Modany. After all, it states right in the ACICS accreditation criteria, posted on ACICS website,
"2-3-230. Show-Cause Directive. When the Council determines that an institution is not in compliance, and is unlikely to become in compliance, with the Accreditation Criteria, the institution will be provided in writing with the areas of noncompliance and will be invited to “show cause” why its accreditation should not be suspended or otherwise conditioned."
Since ACICS issued ITT Tech a show cause directive at its April 2016 meeting, and continued the show cause directive at its August meeting, then in fact ACICS has determined that ITT is not in compliance or likely to become in compliance. Yet even on Sept 6, Modany is trying to say that, since he disagreed with ACICS findings, he was not going to tell students about them at all! Even when ordered by DOE to tell students about ACICS findings, he refused! It is too bad that Modany did not bring students up to speed with these events starting in April, let alone end of August! Campus management was sent notice about the April show cause directive -- and it was posted many places online as well.
This verifies that ITT headquarters did not provide students with any real information about the situation they were in, even though DOE told them that providing students real info was one of the conditions of ITT continuing to get fed student aid dollars.
As far back as Aug. 25th, when DOE sent letter to ITT Tech, ITT was directed to immediately inform students about ITT not being compliant with its accreditors. But ITT never did this, showing DOE that ITT was not willing to be serious, or reasonable, or cooperate in any way, or truthful, right from the start.
Not only did Modany hamper negotiations, but ITT screwed over its students big time. That notice would have, at the least, alerted students well before Sept 6 that ITT was in serious trouble with accreditors and others. But Modany chose to protect his narcissistic need to protect his ego above all else.
For those of us following Modany's antics for years, this was classic and predictable Modany behavior, as he has driven this business off the cliff without ever taking responsibility or admitting errors or expressing any need for improvements. And he took hundreds of thousands of students over the cliff with him.
DOE made all this information, about what steps ITT was required to take to remain eligible for fed student aid on its blog soon after Aug 25th. This same information was provided in the media, and it was discussed at length on this forum. What does this indicate about Modany's real concerns? Himself or the students?
"The Department of Education has instructed us to inform all students about these ACICS actions and to tell students that the ACICS accreditation standards concerning a “show cause” order state that the “Council determines that [the] institution is not in compliance with the Accreditation Criteria, and is unlikely to become in compliance.” ITT respectfully disagrees with these conclusions and has been working with ACICS to confirm that our ITT Technical Institutes remain worthy of continued accreditation."
Best to you Kevin as well - f--- you and f--- your mama
Thanks so much! That's the final email.
Dear ITT Tech Family,
On August 25, the U.S. Department of Education imposed a series of new requirements and conditions on the ITT Technical Institutes, including imposing conditions on our institutions’ continued participation in the federal student financial aid programs that the Department of Education administers. We proposed alternatives to the Department of Education, but they were rejected. Therefore, after evaluating the impact of these new requirements on our institutions, we have made the very difficult decision to discontinue our operations effective immediately at the end of the June 2016 quarter and to cancel the upcoming fall 2016 quarter that was scheduled to begin Monday, September 12.
At this time, we expect all students to be able to complete their current June 2016 quarter, including those students attending the Baton Rouge campus.
Please know we worked diligently to identify alternatives that would have allowed us to continue our operations. But the Department of Education’s actions have forced us to cease operations at the ITT Technical Institutes. We are truly sorry to have to make this decision.
A recent editorial by The Wall Street Journal described the federal government’s action as a “lawless execution.” With what we believe is a complete disregard by the U.S. Department of Education for due process to the company, hundreds of thousands of current students and alumni and more than 8,000 employees will be negatively affected.
Background
The Department of Education’s August 25 letter imposed a combination of requirements on ITT Educational Services, Inc. (ITT) that we believe are unprecedented in the history of the Department of Education. They required us to post a letter of credit or other cash deposit with the Department of Education of nearly $250 million, they imposed a freeze on our receipt of Pell Grants and student loans for all our students, and they prohibited us from enrolling any new students who needed any federal grants or loans to finance their education. We proposed alternatives to the Department, including giving us time to sell our schools to another company so that students could continue their education or conducting an orderly closure of our schools over the course of the September term. Days ago, the Department of Education told us they were rejecting our proposals, and standing by their new requirements.
The Department of Education has told us that the most recent event that caused the Department to place these additional restrictions on ITT was the action by our schools’ accrediting agency, the Accrediting Council for Independent Colleges and Schools (ACICS), to continue the “show cause” directive that ACICS had issued to ITT earlier this year, identifying areas of the ACICS accreditation standards that our schools were not fully in compliance with. ITT has been in extended discussions with ACICS about those issues, and ACICS recently told us that they were satisfied by our responses to some of those issues but that more remained to be done concerning other issues.
The Department of Education has instructed us to inform all students about these ACICS actions and to tell students that the ACICS accreditation standards concerning a “show cause” order state that the “Council determines that [the] institution is not in compliance with the Accreditation Criteria, and is unlikely to become in compliance.” ITT respectfully disagrees with these conclusions and has been working with ACICS to confirm that our ITT Technical Institutes remain worthy of continued accreditation.
ACICS recently informed ITT that we should submit additional information on the open issues and appear before ACICS at its next regular meeting in December to further discuss the schools’ ongoing accreditation. Despite the fact that our schools’ accreditation remains in place and ACICS has not made any final decision about our schools’ ongoing accreditation status, the Department’s actions, as described above, have made it impossible for the ITT Technical Institutes to continue to operate. Otherwise, ITT has been financially sound, had no intention of closing down, and has been responsive to all of the requests of the various regulatory agencies that oversee our schools.
Important Information for You Going Forward
Today is a sad day for our students, alumni, staff, and the entire ITT Tech family. For more than 50 years, we have remained committed to serving our students with quality, compliance, and customer service as our guiding principles.
As you move forward, know that we have honestly and diligently served our students. Because of this, we can all hold our heads high.
Please be assured that we are communicating with students. Our staff and employees are likewise top of mind during this difficult time. Because your transition is important to us, we will contact you about how this affects you. As such, we ask that you check your email for updates.
To access your Outlook email when not in the office, click on the following link: https://login.microsoftonline.com/. Please use your ITT Tech or ESI email address as the user name and your network password to login.
To access today’s press release, click on the following link: http://www.ittesi.com/. You can read our full statement under the Recent News section on the homepage of the Company’s website.
We thank you all for your unwavering commitment to your work and for your dedication to helping people (and their families) improve their lives through the pursuit of high-quality, career-based education.
Best,
Kevin M. Modany
Chief Executive Officer
ITT Educational Services, Inc.
Thanks! But https://www.thelayoff.com/t/Jb27inP is the " Labor Day gives us a time to pause and spend time with our family. As we close out the end of our June quarter, we’d like to extend that time by giving all employees Tuesday, September 6th off as an extra comp holiday...."
The Sept 6 email started out with something like "I regret ....."
https://www.thelayoff.com/t/Jb27inP