ESI is in monumental trouble. Their path is eerily similar to Corinthian Colleges and Education Management Corporation. Look at the news from 2014-2015: CEO Modany resigns (effective this month). PWC quits its $6 million auditing deal (effective January 1, 2015). Deloitte replaces PWC. Board member Jerry Cohen (on the audit committee)is a former executive at Deloitte and worked there 40 years. Still facing criminal charges with CFPB in Indianapolis US District Court (although Judge is business friendly). Blum Capital Partners slowly divesting. Late on yet another quarterly report. No full annual report posted since 2013.
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@Anonymous69897, no not likely. This can be a very long, drawn out process that can take years. Bankruptcy would be way down the road. What I don't understand is that I don't hear any rumblings of layoffs or site closings. UoP had to do this more than two years ago (closed 100 campuses in 2013) and they are still downsizing IT. Are ITT workers so alienated that they aren't doing anything? One poster here several months ago said that ITT Tech workers were so loyal and deluded that they wouldn't resist. But the financials are so incredibly bad, I just cannot see how ESI survives without major cuts as soon as possible.
BK soon?