For the past week the finance/B.A. guys have been working almost around the clock and with the latest restructuring I'm hearing the early returns are "much better than expected". Spring enrollments haven't been ideal, but are "sustainable" and the future is trending up. I previously posted all Everest schools will close in June or July, but that idea has been nixed as management now foresees things turning around sooner than later. It turns out there was much more dead weight cut than was expected and that means very good news for the organization and remaining campuses going forward. The amount in the red at the end of the next quarter "will pale in comparison" to this quarter. Being net positive is now a realistic shot by end of fiscal '16 and has gone from "long shot" to "possible shot" end of Q3. Remember that as a non-profit all Zenith has to do is break-even.
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This is one of the funniest and yet sad post I have seen for a while. It is funny because this post is dumb and sad because some of the dumb people will actually believe it. There is no way out of closing these schools.
Why didn't those "finance/B.A. guys" get to work a few months earlier?
OP: Really?
tjv: Are you in the war rooms? If you are, you should know that by cutting prople and people's salaries is not a permanent solution to your problem. It is just a temporary stop of the bleeding. You need students to enroll in your schools for your problem to go away. That is not happening and will never happen because your schools are full of sh--.
Anybody with half a business brain will know this posting is a load of BS. Since there were several schools that went in to teach out...think about it! This means no new revenue coming in and the student population dwindling day by day (Dropping out, graduating, or becoming fully earned) but yet the cost of running the business remains the same. The landlord and the utilities companies could care less that you have a fraction of the students walking through the door daily, the rent/bills are what it hey are!
Lmao @ all these bitter former employees. You guys aren't in the war room and/or privy to the info, so get on with your angry little lives
The finance guys also think it's a good idea to get rid of faculty. Then the financial projections would look even better!
Mmmmm ... no the financials still look like sh-- and have for quite some time. Achieving net zero is not a possibilty. More then likely the financial model has agressive start budgets that will not be achieved, which has been the norm for Zenith.
It's a little bit like cutting your utilities off. Sure your finances love you, but the toilet sure gets smelly.
What a load of crap!
You bastard liar, I was the person who posted all Everest schools will close in June or July. You are just trying to hide the truth. SMH
I heard the same thing as the OP
I don't call bullshit. Payroll was ran yesterday. It is quite possible that this is correct. There are forecasting models one can use to figure this out. Once all of the people that were riffed are done teaching out and severance packages paid out, it would likely be in the millions for cost savings on the wage lines.
"Remember that as a non-profit all Zenith has to do is break-even."
100% wrong.
I call b.s. on that. In one week everything turned around, yeah right. You are more full of it than Dave Ahole Hawn.