Thread regarding Education Management Corporation layoffs

Yeah, I agree with exm. As with BMC, I think all the AI's will be shut down in one swoop. At this point, the stock is worthless and the students are gone. It's over.

http://i.dailymail.co.uk/i/pix/2014/04/18/article-2607903-1D2E8FB300000578-90_306x324.jpg

says no severance! Period. Too bad. Boo hoo hoo.

Is 1ypn a top level administrator? Does 1ypn represent EDMC? Is 1ypn willing to go on record that yes, severance will be paid. If so, reveal yourself and do so right now, if not on this forum then on the official EDMC website. Let's make it even more official. Have the current CEO of EDMC sign an official communique to that effect.

Otherwise, 1ypn's comment is no more valid than anyone other.

As a student...DO NOT SIGN THE TEACH OUT! Even if the do sign a deal with another school. Toilet paper is more valuable than your diploma. Students of Westwood college got duped when they sold to NAU.

Severance is being paid out so those of you who say it isn't have absolutely no clue what you are talking about. All of the BMC employees being let go due to the closure have or will receive severance. I can't stand it when people spew false information.

Can you provide your source? Show some validity with positions that will slowly go away? Or that there is no severance?

Okay, I hope you're right for the sake of the students, but I wouldn't advise anyone to do anything like quit school without first researching the financial consequences. At the moment if they withdraw more than 4 months prior to the closing or the school offers teach out they could be left having to pay off that debt. Even though EDMC has the 300 mil on reserve due to heightened cash monitoring that cash is traditionally intended for schools that close without teach outs. If that situation doesn't transpire I'm assuming the cash goes back to the corporation. If EDMC can find another college willing to teach out a program on their behalf this also disqualifies students for loan forgiveness. At the time of the settlement the government made if very clear that the charge was about EDMC deceiving the federal government and was independent of deception of students, which doesn't make sense, but they were clear on that point for a reason, I'm assuming. My feeling about this is it's better to be safe than sorry. If loan forgiveness happens, great, but if it doesn't you have to prepare for that.

Here's some clarification on the loan question. https://www.google.com/url?sa=t&source=web&rct=j&url=http://www.huffingtonpost.com/steve-rhode/people-are-telling-me-my-_b_7972752.html&ved=0ahUKEwjT2cn9vojOAhVI3mMKHfcTDQAQFghHMAY&usg=AFQjCNFqZEgOTwO6zqM7ycj08e241iCi1Q&sig2=1dxla4HSD1ozbysXQkTXXg

I don't think they grant loan forgiveness to teach out campuses, just ones that go dark, that's why Corinthian students got relief for their federal loans, the system went down.

Grab those life jackets! No swimming here, sink! No severance, boo hoo. Insiders post here all the juicy details cause we all know it's coming !

Those scums in 'High positions' who are clueless have got to go!!!!!!!!! You know who you are, & should be ashamed, milking it & others while you don't do squat !

Why small layoffs? Why drag out the process?

I agree. Long time coming. The stock actually sank to just under a penny and stayed there for a while so the end is near. I'm just hoping it's more of a system wide closure and that assets like computers go on sale to the public.

I don't have inside knowledge at all, but my guess was that it would happen like this, quietly, to avoid loan forgiveness.

The Republican Convention has been - at best - underwhelming. I no longer think Trump has a chance in November. His election would have meant the possibility of salvation for the For Profit colleges. Does anyone think the RNC Convention had any influence on KKR's decision to close? Or is this simply the endgame for a process that's been a long time coming?

I know for a fact... No severance! Yes. That's correct. No severance.

Very privy to details, front facing employees are dispensable on the front end.

Is this your best guess or are you privy to details?