Any sales will be property ONLY. CCI is not a valid, sustainable business.
6 replies (most recent on top)
We are ripe for sale. We have been ripe for sale for the past 3.5 years with assets that outweighed our value. Every business yahoo (in this case educational owners) believe they can do a much better job than CCi... and they are probably right. But, the elephant in this room and it is not hiding is how will Govt and ED handle the industry from this day forward. You will see this case study in business and govt law books for years to come.
28438 - no, what will stop CCi from being sold is that nobody wants to buy us.
If someone wants them bad enough, they will sell.
28409 is correct. Some of the largest companies in the world have been CONVICTED of criminal charges.
Companies such as General Electric, Tyson Foods, Samsung, etc. The usual outcome is either heavy fines (British Airways paid $650 million total for price-fixing but no jail time for any executives). Other times (such as with Arthur Daniels Midland's price-fixing scandal, Senior executives went to prison. The only way I am aware of that the feds could freeze or prevent the sale of schools is if they utilized the RICO laws, which will never happen, because CCi is not a drug cartel or the Mafia. The only thing that will prevent schools being sold is if the accreditation agencies do not like the buyers and don't approve them.
The criminal investigation would be against Corporate Officers and possibly Board not against CCi. CCi will "sell" it's right to teach the student and collect the tuition to an approved ED entity in the coming weeks. Business is business and law is law and somewhere in the middle they shall meet. Legal actions will continue long after the sale of the company asset. The order of the sales next month will be Heald, Everest and finally Wyotech. Nothing is gone until it is really gone. Think about GM, Chrysler, CitiFinancial, Trump... all were at a breaking point until they recovered. Now, I am pretty certain CCi is not bouncing back, too many skeletons (i.e. Ameriquest, Delorean, TWA.) But that does not mean another proven (NfP) company looking to build it's portfolio will not snatch up one of the potential revenue streams at a really good price.
Agreed. People have no idea what they're talking about.