It was assumed that if Corinthian was bought...Two things would happen..a reduction in tuition and a name change..Just about every Everest employee knew a name change was essential...The Everest name had been dragged through the mud...A new start, with a new name was paramount to being successful...Kudos to lowering the tuition...But a suicidal choice to stay with the brand name Everest...Upper Management should have listened to the people on the ground...But once again a business ignores their best source of advice...How about calling the schools...Zenith University..or Zenith College...Instead of losing millions..Maybe ...jus maybe things would be much different..
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You do know Zenith only wanted to buy 10-12 schools right? DOE made them a deal to buy more and do a slow teach-out to lower buybacks and public out-rage. Why spend millions re-branding schools that you are not keeping? You re-brand after you let the other schools go. You don't spend time and money investing is a school you are not keeping. Several schools have seem vast improvements in marketing and funding to increase their population. New programs being created and a surge of new energy. If this is not happening on your campus, then I would have to believe you are a school they do not wish to keep.
No not changing the name has been expensive..Like almost 200 million worth.
Changing the name would be very expensive!
It did strike me as an odd strategy to continue with the Everest name. Most people (the media especially) are unaware that the ownership has changed hands. Everest will unfortunately be associated with Corinthian for a long time.
Student debt is a more valuable asset than the school that automates accumulation of debt. Wait I thought that's what jackmass said?
Tried to keep up the fraud. Jack and Dave were tight until the sudden cci closure. That messed up daves regional accreditation plans and railroaded the chances of salvaging the company. When Jack f'd Dave that's when Dave in turn brought in his own people and got rid of Jacks pals that were the "transition team" ... Tina, and the other massimo family members in spite of jacks screwing him over. Dave would have given cci some funds to hold out so he could get regional accreditation but Jack just wanted out of his Ponzi scheme. Classic CCI.
Zenith is done. Nobody wants to buy or be involved with this kind of fraud.
Their plan is to close the school , so why would they change their name?
I think the real plan was for the gradual wind down of CCi schools by the DOE quietly and sufficiently. Doing so with a broad sweeping motion with an axe (closing all the schools at once before ecmc acquisition) would create havoc. Much better to get the scalpel out and remove parts that are vital (what your seeing now) so when death occurs the dr/aka zenith or ecmc can say we tried!