EDMC Announcement today

Good afternoon,

I'm pleased to share that progress continues toward completing the sale of substantially all of EDMC's assets to the Dream Center Foundation. Most of the required regulatory approvals have been secured. The Dream Center Foundation is in process of securing their financing. The largest remaining step is to submit this information to the United States Department of Education, which is slated to occur the week of August 28. We anticipate that the DoE review will take several weeks.

Due to the hard work and diligence of many of you, your peers and your leaders, we remain largely on pace to complete the sale and transition operations within our expected timeframe of sometime late this summer, most likely in September. Several schools, including the Higher Learning Commission and Middle States-accredited schools, remain on pace to close later this year. Our transition team, led by Kim Strohm, put together a transition plan and identified and monitored a myriad of details, ensuring that we continue to efficiently move toward our goal.

The Dream Center Foundation remains enthusiastic about this deal and committed to doing all they can to contribute to closing the transaction as quickly as possible. Together, EDMC and the Dream Center Foundation are working to make Day 1 of Dream Center Education Holdings (DCEH) go as smoothly as possible. To that end, we will soon begin communicating information about what you can expect as a DCEH employee. There will be a lot of information, so we ask that you be looking for it and carefully consider it so that you are as knowledgeable as possible and prepared for Day 1.

While we have made great strides and move closer to close, we are not quite finished. Everyone has a role to play. As has been the case since we announced the agreement in March, it is critical that we focus on our students and providing the quality education they have come to expect.

Thank all of you for your hard work on behalf of our students and EDMC.

Mark

President and Chief Executive Officer

EDMC

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18 replies (most recent on top)

I bet something is going to happen this Friday as in more information. It's the first of the month and a good time to give news for people to "consider " over the weekendor before The weekend of Labor Day. One of the two

Adam Smith= Mark

I really have to laugh at all of you who think you know what's going to happen. You are delusional you are only transmitting your own hopes and desires onto the situation. If you really understood the nature Of the forces involved, of the monies involved, you would understand that this is a done deal. The dream Center knows everything about EDMC, all of the lawsuits, rtc. And they don't care. They want and need the revenue stream. They are more than happy to take the dirty money and launder it for their evangelical purposes. As to whether or not people will be fired or laid off, while a few Might go, it will not happen Until January. The higher learning commission does not vote on the fate of the two Chicago schools and the Michigan school, as well as Denver, until November. No one is getting close down until after January at the earliest. The most likely scenario is that all schools currently in operation will remain in operation until next June. After that, it's anybody's guess You can all go back to your Ouija boards and crystal balls now.

You poor deluded desperate creature. Under the circumstances you're worried about a pay cut? You are indeed a silly, deluded person.

There is no pay cut after a job cut nutsey.

You can count on a pay cut!

The day 1 as D.C. Employees is ominious. Get ready to re interview and take a pay cut

More of the usual smoke and mirrors and facade games to try and convince the desperate that this will be a smeamless transition.

Who's kidding who? The jig is up.

But thanks for the eternal love for the students. Just don't take a brick in the head in the same unemployment office.

Maybe Mark can get you all a gig at the brew pubs crying in your brewskees.

"remain on pace to close later this year" is vague and somewhat ominous if you do not trust EDMC at face value.

Is it on schedule for closing - the doors or closing - as in the sale and integration into DCF Holdings? That is the question for Ai and AiO instructors and what little staff remains.

Money laundering at its finest! The quality of education received won't change and that leaves students without marketable skills! Pitiful!

"What does "Several schools, including the Higher Learning Commission and Middle States-accredited schools, remain on pace to close later this year. " mean? AIP closing?"

For the millionth time, the HLC accredited schools are on a different schedule. .

Complete fake... higher ups said to jump ship because it's not going to go thru.

It is real. I doubt if many people would reapply. If my pay is cut, I will happily leave.

Fake email!

B.S.

Have fun reapplying for jobs so you can get that paycut.

What does "Several schools, including the Higher Learning Commission and Middle States-accredited schools, remain on pace to close later this year. " mean? AIP closing?

The whole anal retentive missive sounded absolutely legit until the part about "it is critical that we focus on our students and providing the quality education they have come to expect."

Mark, you are a very sick man. Pitiful.

Anybody care to predict how this plays out?

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EDMC Announcement today

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