Devry Fraud Factory Headed Toward Zombie Territory................................................https://www.linkedin.com/pulse/devry-headed-wrong-direction-dahn-shaulis?trk=mp-author-card...................................DeVry Education Group Inc is the parent company of many higher education brands, including: American University of the Caribbean School of Medicine, Becker Professional Education, Carrington College, Chamberlain College of Nursing, DeVry Brasil, DeVry University, Keller Graduate School of Management, Ross University School of Medicine and Ross University School of Veterinary Medicine. Devry may be profitable for several more quarters, but it's definitely headed in the wrong direction ethically. The for-profit educator is making substantial profits, but at what cost? Senator Dick Durbin has publicly called out Devry for problems at its Ross Medical School, which indicates trouble ahead if the company does not reform itself. Attorney David Halperin has documented several legal battles that Devry faces, including recent investigations by the states Attorneys General of Illinois, Massachusetts, and New York and an informational request by the US Federal Trade Commission about the company's advertising and marketing. In March 2015, Lisa M. Sodeika, a former credit card executive (HSBC) was hired as Devry's Senior Vice President of External Relations and Regulatory affairs. What does this tell us, when banks and credit card companies become so closely interlocked with politics in for-profit higher education? And what are the consequences of these alliances? On April 21, 2015, Devry announced that they were under federal investigation in Ohio for allegedly violating the False Claims Act. Two days later, Devry CEO and President Daniel Hamburger stated that Devry would be closing or consolidating 20% of its campuses. More layoffs are scheduled in September 2015.
Devry cannot afford to use questionable methods to boost its bottom line. In the long-term, these business practices will put the corporation in the same category as Corinthian Colleges, Education Management Corporation, ITT Educational Services, Career Education Corporation, Apollo Education Group (University of Phoenix), and other #zombiecolleges.
For years, the corporation relied on aggressive lobbying groups such as the Association of Private Sector Colleges and Universities (APSCU) and Democrat power player Heather Podesta to get what it wanted in terms of regulation...but those days are fading.
In June 2015, Devry left APSCU.