"The guaranty agency today announced that its governing board will give $250 million to the ECMC Foundation to support Zenith. The foundation’s current president, Peter Taylor, will become Zenith’s president and CEO."
https://www.insidehighered.com/news/2016/07/28/zenith-education-gets-new-leader-250-million-it-seeks-turn-around-former-corinthian
Nothing has changed people, they still use cci commercials. its the same dumb a-- company. The big change was the removal of talent. Now it takes two people to do the job that one used to do. Its a corporation folks. the ink is always still wet on the paper in the back room. The managers are not to smart but just smart enough to steal others ideas. The question is when you retire what feeling of good do you have? You don't
This is a good investment idea. After removing the more intelligent of the instructors from wyotech they will need magicly new equipment to keep students interested. It's not like any instructor left has updated experience if any experience. Talking is easy. Hands skills training is a normal skill lacked by most including those who teach.
Now they are spending a fortune on a new on-line platform. Its a waste, the assistant deans are way too stupid to mange that successfully. The school is a joke, so don't waste money, just push everyone through.
It does not matter how much money they infuse into the business because all of the leadership and talent to turn it around is no longer employed at Zenith. More money is just an extension of the inevitable. You have idiots now running the campuses. We have 4-5 of whatever you want to call the regionals - I call them worthless! You have admissions in the hands of Burkhalter and Cochran neither of whom have ever enrolled a student in their lives. I could go on and on, but you get my point!
The problem with Zenith is they have no idea in what they're doing or how to clean up the mess. Take WyoTech for example, it has dumbed down the curriculum so much that a student gets a better education at a high school vo tech than at WyoTech and it doesn't cost them $32,000 plus housing costs. Zenith needs to reduce the cost to attend WyoTech to about $22,000 which is a more realistic price. But, to do that they would also need to reduce the outrageous salaries paid to the DOEs and instructors. The average salary for an instructor at WyoTech is $72,000 and the DOE/Dean is well over $100,000.
It takes time and money to clean up a mess as big as CCi was, not to mention how badly the entire technical education industry was mismanaged. People rag on the technical schools, but who do you call when you need a certified plumber, electrician, or automotive technician? Not everyone was meant to go to a university and get a psychology degree for $100,000.00 in student loans and end up working as a floor manager a Walmart when they finished their degree program. Many Americans make a good, honest living and working in the trades. It's too bad that poor management and greed has ruined something that is so important in our society. $250 million is a drop in the bucket compared to what tax payers give to foreign governments and green development. Oh, and how about that solar company that went bankrupt after receiving $729 million under the Obama administration. Now, that was a groovy re-investment...for somebody's friends, of course.
What they should use the $250m for is to reimburse the students and close it down. What has ECMC accomplished with the former CCi schools up to this point? Lets see, they have closed 32 of the 56 schools, terminated the employment of over 2500 employees and reduced the student population from 33,000 to 10,000. I'd say Dave Hawn and his minions have done a fantastic job so far. How long does Taylor stay on as President and CEO before being fired or resigning?
"One way Zenith has begun that process is by ending its national advertising for Everest and shifting marketing money to local campuses, which can be more targeted with ads." WHAT A JOKE!! This was already done at a huge FAILURE. Monies were given to the campus' to help market their programs. Monies given to people who do not KNOW HOW TO MARKET! Still enrollment remained very low.
When will the "SMART" people finally realize that Everest has a NAME that is associated with failure. Many students along with many laid off employees do not sure the name of Everest on their resumes because this will make sure that they do not get the job.
ECMC is supposed to be a non-profit organization, where do they get that kind of money to throw at an experiment like Zenith Education? ECMC is making more profit as a student loan debt collector than Corinthian Colleges made as a sham college. Now who is REALLY ripping off the students? Shows how incompetent the federal government truly is.