Tomorrow's agenda on Socle calls: do not bring up the word "subsidiary." Or "Corinthian Colleges." If a client directly asks you, just scream and then say a mouse just ran over you. If it keeps happening, keep screaming. "Oh my God - that time it was a cockroach" or "JEEBUS! A mongoose just ran over me!!!" or "Holy Crap! A GATOR just ran over my foot!"
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I don't care what you call it. Just keep sending the cash to us at Everest.
This is what I say when I'm asked: Corinthian Colleges is the overall name of our mother company, and it has many subsidiary brand names that is does business as. We go by Everest College, Heald University, WyoTech Institute, Socle Education, and others.
Holding company, noun: a company created to buy and possess shares of other companies, which it then controls. CCI is the holding company of subsidiary, SOCLE.
This is what we need to tell clients: "We're a Corinthian Colleges subsidiary in much the same way that a Big Mac is a McDonald's subsidiary!" Oh wait, do we really want to phrase it like that? It still sounds about right. CCi is about as healthy a company as your average McDonald's meal is, and Socle is probably the worst of the worst!
Subsidiary, noun: a company controlled by a holding company.
24489, you keep posting that, and keep making our points. Look up subsidiary.
Blah blah blah. Get off CCI board, if you have nothing to do with us.
Anonymous24489: I have a feeling that isn't what we should be telling the clients.
Just don't tell them about subsidize.
Socle is incorporated as a wholly owned and operated subsidiary of CCi. It started with Student Financial Services in 2009, which was a CCi department in Tampa that took over behind-the-scenes financial aid processing from a third-party servicer. They changed their name in 2013 to distance themselves from CCi to facilitate hoodwinking….er, obtaining outside clients for their services. They are in the same address/location and have the same leadership/management team as they had before. Socle = Corinthian Colleges (http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=245633140). Does that make it clear enough?