Presidents are back and no news? They must be all really good at keeping it secret or nothing happened of significance.
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Yep- get out before your laid off. Take a pay cut if necessary. The stress and shame of working for EDMC is not worth any amount of money.
Jesus, these questions are depressing. I've answered a few already but, I'm sorry, I'm tired of responding for every single different position.
Let's make this clear: it is failing and dumping ballast step by step until there is nothing left.
If you are just holding on until you find something else, I understand, and my heart goes out to you. The job market can be challenging. Strength and courage, my friend, and then godspeed and do well in the next place and hope they do better by you.
But if you are holding on for any other reason, let it go. It is over. If it's not you this round, it's likely next round, and if not the next round it's the round after that. It's coming. Be prepared and if at all possible leave before it's done to you. But it's coming.
What about SEA's and CSA's?
I believe Ai has tried the Inter Company Sales route ( or something rather like it ) and failed. Anyway, it's a scheme more geared to protect the investors. Here's the URL that helps explains it all: http://business-finance-restructuring.weil.com/case-overviews/what-education-management-can-teach-us-about-the-protections-available-to-minority-noteholders-in-an-out-of-court-restructuring/
Sorry for the late response. Been grading final projects at a real, state run school.
Its said that directors are being let go in june and many departments are referenced. What about the campus relations directors?
According to the publication, EDMC proposed the restructure and Marblegate proposed the inter-company sale? Am I understanding that correctly?
If the judges decide on the inter-company sale route what does that exactly mean?
As far as I know, the three judge panel has heard the arguments but won't be handing down a judgement anytime soon. I guess that's why we wait till June. I can't help but think they'll side with the bond holders. If they side with EDMC, it'll mean quick profits for a few companies but won't the ripple effects have a deadening impact on all investing going forward? Let's hope the 2nd Circuit has its eyes on the big picture.
It sounds like the Marblegate case is just awaiting a decision?.................................http://www.law360.com/articles/795648/2nd-circ-wrestles-with-edmc-out-of-court-restructuring
@HnaNUyy-2sci, are there any court dates in the Marblegate case? .................................................................http://media.straffordpub.com/products/trust-indenture-act-and-involuntary-restructurings-impact-of-marblegate-and-caesars-bankruptcy-litigation-2016-04-12/presentation.pdf
As has been stated, plans have been made to restructure the school and eliminate a great many top admin positions. I suspect the severity of these plans will depend on how the Second Circuit Manhatten Appeals Court rules on Marblegate. I'm guessing the court will have to side with the bond holders. So, now we wait.
When will all of this be announced and take affect? I hope before June 30th
Arizona is where all of centralized financial aid is located.
There's still anyone left at the AZ center?
Does this mean more layoffs at the center in Arizona?
Some full time faculty will be affected at some campuses, but that's based solely on enrollment numbers at the school and within departments (so if the campus has declined a lot in enrollment it may lose one or two or a small handful). It's not expected to be much this time around, mostly because they've already cut so many previously.
What about full time faculty?
Sounds like the same moves Zenith Education did with the old Corinthian College schools. It didn't help them, enrollments are still tanking.
Admissions is coming later, likely Oct
Will Admissions Departments be effected? An earlier post said the Senior Director of Admissions and Director of Admissions positions were being eliminated as well as Campus Presidents. This post indicates differently.
All associate dean positions, academic directors, Dean of student affairs, director of accounting, director of career services and various others.
For on campus leadership positions, are you referring to Deans of Academic Affairs and Deans of Student Affairs, or the Associate Deans of Academic and Student Affairs, or all of the above?
They discussed the new restructure. Most of what posters posted a few weeks ago is accurate. Most on campus leadership positions eliminated (presidents not affected), many support positions eliminated, and new lower paying positions created to replace several removed positions. Departments affected are academic affairs, financial aid, student accounting, student affairs, IT, and career services. Several regional positions are to be elimintaed as well. The restructuring is designed to cut nearly 25% of salary budget in those departments and is designed to work with the new "on campus service" model that does not rely on the center.