It's all coming down soon.
I, myself, have already secured a position elsewhere, but for those of you holding out hope, it's a done deal.
KKR is looking for a cash grab to recover their $441 million buyout, from the looks of things they're taking a hit, get out w9hile you can.
fiscal year for 2016 is:
JUST LIKE AN ACADEMIC CALENDAR 2016
1st quarter: 1 July 2016 – 30 September 2016
2nd quarter: 1 October 2015 – 31 December 2015
3rd quarter: 1 January 2016 – 31 March 2016
4th quarter: 1 April 2016 – 30 June 2016
Who's the idiot now? Haha
Well they didn't file or close everything today...hmm.....How much you want to bet they try to pull off the closure or some kind of secret bankruptcy filing over the 4th of July holiday weekend so no one will be paying attention???
I love the tone of panic in all your comments! All you involved with EDMC will be treading water soon! I hope you can swim, because it's inevitable the ship is sinking! Good luck landing jobs with EDMC on your resume. No more gravy train on the back of defrauded students!
@I8mG4dB-1rpg EDMC runs on a July 1 to June 30 fiscal year. Sorry, you are the idiot. Anyone who works for EDMC knows July begins the first quarter of the new fiscal year.
The Pittsburg building sale was a couple years ago..
You might check the dates on the webpages you're trolling.
What are you talking about? The fiscal year starts July 1. It always starts July 1. This is a basic fact and you're embarrassing yourself by suggesting otherwise. The rest of your post was intriguing and then you bring in the point about Q4 starting July 1 and everyone who knows budgets or finance is like ummmm not sure if this guy can be trusted anymore. Your argument actually would be stronger if you'd stated that they're concerned about Q1 of the new fiscal year.
AI just sold their corporate headquarters building in Pittsburgh for 10 million with a three year lease back arrangement. It's obvious they are interested in maximizing the value of their assets and have no interest or faith in the long-term outlook. Go KKR...
@I8mG4dB-1wch>>>>>>fiscal year for 2016 is:
1st quarter: 1 October 2015 – 31 December 2015
2nd quarter: 1 January 2016 – 31 March 2016
3rd quarter: 1 April 2016 – 30 June 2016
4th quarter: 1 July 2016 – 30 September 2016
Who's the idiot now? Haha
I hope they sell everyone including the AI brand. The ADAs actually think game and media arts grads will get jobs. There are no jobs for them and they have totally been taken. 80k for a worthless degree. Won't even be able to buy soap and deoderant which they could really use
Idiot the 4th quarter ends June 30
What do you mean, get their money? Dont they face that decision every year?
@I8mG4dB-okt >>to answer your questions, KKR is the equity firm who holds 60%+ of holdings and assets of EDMC and all their schools. Meaning they own the majority share of the parent company EDMC, so if they want to get their money they will either sell everything off or just have EDMC file for bankruptcy which in either case they will sell everything off anyways. They have until tomorrow or they will face the 4th quarter of the new fiscal year on July 1st. That means they will need to face new financial problems for the 4th quarter like payments to investors, as well as any other payment obligations that they have to legally pay, and finally they will face the new rules set by the Dept of Education to protect students which they will never be able to. See all the links below.
http://www.ed.gov/news/press-releases/us-department-education-announces-two-final-regulations-protect-students-and-help-borrowers
https://en.wikipedia.org/wiki/Kohlberg_Kravis_Roberts
https://en.wikipedia.org/wiki/Education_Management_Corporation
Whats a done deal? Whats KKR?? Where is this coming down??? What school????
I tend to think there's something to this because of the way they treated AI Austin and AI San Antonio. I was especially amazed at AI San Antonio.
They're planning a sell off of their "assets" correct?