Have folks on the East Coast started the Initial Closing party yet? This is a pretty big deal allegedly closing on a substantial majority of the schools (outside CA)today. Jack is all, like, Cha-Ching! Bust out the bubbly. He should be able to go part time after unloading a good chunk of his empire.
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Poor jack will have to wait a few more weeks before going part time and taking a pay cut.
LOL 278! Jack can buy a bunch more shares with his change from Taco Bell if he's thrifty!
302 - it certainly looks like it will close, but I agree with you... ECMC has absolutely nothing to gain here. Part of their motivation is to keep in good favor with ED, since their entire business model is to drain enough taxpayers dollars through ED contracts to be able to pay salespeople $500K a year. That's a cash cow you want to keep happy! But part of it is probably absolute idiocy. It's easy running a company with unlimited funding and no competition. They probably think that they're true business leaders and can actually fix what's wrong with CCi. Well, starting out by keeping all (or at least most) of the foxes in the hen house isn't the most impressive first decision. I guarantee they'll crash and burn big time -- probably within a year of the acquisition. Sad but true. Glad I'm getting out...
ECMC should have run far away from this deal by now if they had a shred of business acumen. What could they possibly gain from this acquisition? I would be very surprised if any part of this closed today or ever.
They were supposed to close on a big chunk of schools today. Haven't seen a press release yet to see if they actually pulled if off and Jack probably just hasn't had a chance to update this board yet.
If Jack's stock was worth $0.06 (that's 6 cents) today, how much will it be worth tomorrow after carving off the chunk that was supposed to close today? I think he owns quite a few shares. He might save the cha-ching part for when he next drops a $5 spot at Taco Bell.
Have any deals actually closed yet?
So will the Executive Leadership Team take a pay cut when they just need to oversee California (Which we all know is a no brainer) and Canada?
I party every day since I left this company. Best employment decision I ever made.