When the Online division fails to meet expectations . The company has no chance to generate revenue . This is a lame duck company with about one year left! Jackie M and the crew will pick the bones like left over turkey on Thanksgiving weekend!
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Not really news. Online hasn't been making budget for awhile. That, among other things is part of the recent layoffs.
Everest (and CCi) don't actually have to make a profit as long as Wells Fargo is willing to back stop the company--and they have tons of money. Wells Fargo likely gets billions of free dollars each month through its "Quantitative Easing" (QE) programs, in addition to hundred million or so it gets from Title IV funds each month. One of there concerns may be that if they allow CCi to fail, that other FPEs will also fall faster, thus they may take losses for awhile.