The Zhangs are now ITT ESI insiders, holding almost 13% of the company's shares. Haven't heard much about the father and son, other than that they have for-profit schools in China. Don't know if they are members of the Communist Party, and if so, how far up in the party they are. Do we even know if the investment money was legally gained. Can't assume that it's not dirty money given the level of corruption in China. So where's the US Department of Education? Are there any Homeland Security issues with Chinese owning a US technical school?
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Maybe U.S. security would be issue if Chinese national bought an American university that is doing research for defense department -- like many public universities do -- in areas such as submarine navigation for example.
But seriously, any knowledge at ITT-Tech is known by millions of Chinese youth already. Linux? CAD? Not exactly top secret!
How threatening to US security is plastic recycling?
Jinde International Trade is licensed business in Irvine, CA, with Yude Zhang's name and address (identical to those on ESI SEC filing). Only 1 employee! Business description: International trade of recycled products.
Here is some information about company -- Jinde International Trade -- plastic recycling business!
http://www.recyclingplasticwaste.com/recyclers/usa/aa1169597.html
See for yourself. City of Irvine website lists information about licensed businesses.
Here is link to large excel file with all licensed businesses, but it has thousands of lines -- if you download the file and run a search for YUDE, you get the business name, address, etc easily. Contact phone number is there as well, for anyone who wants it.
https://secure.cityofirvine.org/webreport/?webReportGridChangePage=352_50
I know nothing about Zhangs. But I absolutely believe Kevin Modany is salivating over prospects of operating scam school in China.
Is it likely that Chinese will get embroiled in ITT Educational Services free-fall in America? Is there really any big money to be made here in the USA, from ITT-Tech or Career Academy or Daniel Webster?
Or is Modany cooking something up with Zhang in China? Nothing would surprise me about depths greedy people will sink to. Here's a possible name : Guangzhou Huali ITT-Tech College of Mechatronics and Automation.
Lots of schools in that area with similar names, and lots of Zhangs. Can't assume that giant campus with polished website , exchange programs, etc is THE for - profit of ESI relevance. Right?
In China, people might think Itt- Tech is same as Cal-Tech! Modany would love them to sign up!! Maybe our Zhang is milking name of big college.
Is this a scam school? They say they have "international cooperation" with the UC system and CUNY. Is that believable?
http://www.hlxy.net/
Is this what the Zhang's propose to export to the US? I wonder what the "Ideological and Political Theory Course" is all about.
http://www.hlxy.net/wljx/
From SEC filing, "Mr. Zhifeng Zhang is a citizen of the People’s Republic of China and Mr. Yude Zhang’s father. The reporting person’s primary occupation is chairman of Guangzhou Huali Investment Ltd, a Chinese company. The reporting person owns and controls several for-profit education schools in China."
Maybe this is one of his schools: "Guangzhou Huali Science and Technology Vocational College."
A vocational school with this name is described at http://www.investyunfu.gov.cn/article/mobile/183.html
School: Guangzhou Huali Science and Technology Vocational College (Yunfu Campus).
Major: Moulding, automotive maintenance & inspection, power system automation technology, software technology and computer network.
Number of students: More than 3,000
And a "foreign teacher recruitment site" describes this same school in detail, and contact info, at http://www.hlxy.net/csrs/newshow_qx1.asp?id=22197
The address on the school recruitment site is No. 7, Huali Road, Guangzhou Huali Science Park, Zengcheng, Guangzhou, China. And on Google Maps, this school is located adjacent to Guangshan Hwy.
The address for Zhang, on the SEC filing, is Huali Road #1 Huali Xue Yuan, Guang Shan Road, Zeng Cheng District, Guangzhou, Guangdong, China.
His address is listed on the SEC filings. $5,000,000, 5-bedroom, 8-bath home in Irvine, California!