@Ig1rDH7-raz - I left the organization late 2010 when they pulled the plug on ATB students yet still expected the campuses to have a 30% of Starts to come from Referrals, got pissed at the advertising company for bumping our TV spots and stopped advertising yet still through year over year growth at the leadership teams. Besides all the other backwards things they did through the Sub Prime Lending Crunch and their funny money Genesis loans. I have a Finance degree and knew what they were pulling was going to come and bite them in the ass The straw that broke the camels back is when they took the revenue generators (Admissions Reps) and had having them block out a portion of their day to make calls to former students in jeopardy of going into default instead of focusing on finding students.
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So when will they pull plug on Online. When is lease up?
SO TRUE....the only explanation for such bizarre behavior of ANY Company who does not market the front end is planning on failure.
The rumors of Zenith not planning on keeping Everest open is now not just rumors but fact.
They've already disposed of any real estate that came with the sale. That was being negotiated before the sale was finalized. Real estate investors bought the buildings and land in return for a short term lease back from Zenith.
If you are referencing the Everest Campuses...ECMC is just now getting to their pot of gold. It has been said many times, they had no intentions of keeping these schools open. This was a deal made with the DOE to limit the canceled student loans. Think about it...a win win for both organizations if they can mitigate the potential losses. (Which they have done magnificently but not just shuttering the doors which would force these loans to be canceled) Business 101: got to spend money to make money! They paid $500k per location but the debt collection portfolio that came along with it is worth millions. Most collection agencies tack on 30% fees and with student loans they will get their money!