I'm reading the official notice of the CSAC and it reads "On February 5, 2015, Heald College notified the Commission it would not be able to provide that audited financial statement." Our college knew we had to turn in financials by end of December and we plum forgot! And now we are more on the radar for being a irresponsible organization. Who would want to buy an organization with such baggage and poor management?
8 replies (most recent on top)
Our only hope is to be sold before the 100 mil is due.
The meeting was exclusively about Heald. There's no reason for Jackass to have been present. No, Heald may not have financials that are completely independent of CCI, but we HAVE to provide something. You can't take millions of dollars in aid and then ignore the most basic administrative requirements. Heald appeared to be operating in very bad faith by making no apparent effort to provide any requested information. But come on, everybody. This was a scam from day one to suck Heald dry and leave nothing behind but a smoldering wreck for taxpayers to clean up. Mission almost accomplished.
786 is correct. I watched the hearing, too. However, the only thing the commission wanted was audited Financials which were not presented, nor during the meeting did Heald at any point state in dollars their profit for last year or any figures at all. It was a soft defective defense.
786 ... Then where was Jack massimino? You would think he would have been at hearing
I would shut down Corinthian
You guys did watch the hearing, right?
Maybe you forgot the partt where Heald underwent a four month long audit, completed in December, with no findings and showing full compliance? CSAC is demanding audited financials for the entire CCi group, not just Heald.
772 - Stop it already. Heald Management was in the know and could have pushed the issue further to make sure CSAC got the information they needed. I'm tired of us blaming CCI on things that WE could have been more involved in. This "we didn't know" BS is getting old. If Heald managemnet sees a train wreck about to happen.. friggin' get involved and stop it already. They should have been white on rice asking about the progress of the financial audits this entire time.
Who do you think responded to the CSAC - Heald? It was Corinthian. Corinthian is behind this whole thing. I don't think for a second that Heald would jeopardize everything and yet still make plans for the next year in program development and continue working towards a Bachelor program?