It makes no sense that the board of directors have not called for Jack's resignation months if not years ago. This just proves that the plan is to rebrand themselves and continue to rape students and tax payers under a new name.
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You're correct, CCi will lose all title IV funding under bankruptcy. If another company buys certain campuses won't the funding go with the campus. Each campus is accredited, or in some cases a group of campuses, so that is how another company can buy them and keep going. When CCi bought WyoTech and Heald the accreditation went with the sale, that's how the schools continued on without any interruptions. Why couldn't the same thing happen again only this time they are basically buying the schools from themselves under a different name? The DOE will work with CCi as much as it can to keep from dismissing all the student loans. Look at what they did with General Motors and the banks. I'm not saying this will happen but, it wouldn't surprise me to see them make some sort of comeback and possibly as a not-for profit company.
There is absolutely no way the DOE will go along with a simple rebranding and 26839 is absolutely correct regarding the bankruptcy. Quite honestly, the ability to attract top talent to CCi dropped dramatically when Matt Ouimet left. Once he left there was no one internally from a succession standpoint and CCi's press has been so negative, the regulatory threat so high and the political environment so toxic that I think most serious candidates would have stayed away from it.
Anonymous26830- That's not possible, since CCi will lose all future Title IV funding if it files bankruptcy.
I'm starting to believe that was going to happen anyway. Bankruptcy to dump the really bad campuses and unsecured debt. Then rename, restructure salaries and benefits to well below what they are now. Anyone that gets rehired starts at new employee pay and benefits.
I think that was the plan originally. Employees posted they had heard that from management. Now, if they are going to 6 week sessions at Everest, maybe they are going to try. Either way, I'm jumping ship after this term. I'm going to teach at a real college where our job is to be an instructor, not try to coerce homeless students living in shelters who lost their kids (2 students last term) try to focus on school. I'm going to a school where they do pre-testing to ensure their students can read and write. They can rebrand all they want. It'll just tank again. If the motto remains 'asses in the classes' no name change will make a difference.
They rebranded once before from Corinthian Schools to Corinthian Colleges.