$0.01 stocks. There is no rebounding from this. No one will touch the EDMC brand. Makes no business sense to use a defibrillator on something that is hemorrhaging on life support. The public is aware of the for-profit scams. This is the end for the for-profit era. Slow and painful death awaits it.
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RE: Chicago -- does that include Schaumburg too? Where's DRay going to go?!?
Chicago campuses likely to be set to teachout soon.
culinary and computer labs were cut by a third to half over the break. No news there
Some campuses have received phone calls and ordered to shut down one of their three culinary labs effective fall 2016. It is true, ask around. This is for campuses that have lower enrollment. Watch the enrollment go down even more once people walk the building and the ADA's tell the there used to be a kitchen there...
For-Profits attract low life grifters and carnival barkers so its no surprise politicians especially Trump are attracted to it and want more of them to fleece the public.
You mean to tell me that both of our loyal front runners have ties to the for profit "industry" and are incorporating this into their spew of empty promises for this coming election season. GASP!
These damn students are penetrating the bureaucracy.
I have also read of Clinton's ties to Laureate. Whether these ties mean redemption for EDMC is far more problematic. Laureate has a global reach and perhaps actually does some good in the world. EDMC does not. What I think also gets lost here is the fact that EDMC is in the process of shutting down. BMC is shuttering and they were a big part of the EDMC empire. The other brands, including The Art Institute, are extremely toxic and have a much diminished presence. I suspect more will close and soon.
But hey, it's all speculation. I think it's important to keep forums like this one up and running if only to prepare us for what may come.
It's even important to hear from the "Moonlighting" PR flacks. They give us a glimpse into the corporate mind set. Also realize that we're getting more advice for job searching after AI closes. I look at the sentence syntax of such posts and find them all carefully worded and distinctly corporate in nature.
Tired of being overworked. Upper management such scum. Keep taking those stupid kids in game and media arts money. No hope for them. How do admissions people sleep signing up students that will never get jobs. I am so ready for unemployment.
The closing of EDMC can't happen soon enough, my question is what is taking Tim Mitchell and the DOE..so long...excellent job DOE!!!
Both presidential candidates have ties to for-profit education. If EDMC can wait out the election while continuing to adhere to the FEDs new guidelines, the company will likely survive the storm surrounding the industry. On the campaign trail, Hillary Clinton has pledged to crack down on for-profit colleges, saying she would go further than the Obama administration’s high-profile efforts to rein in the industry. But the Democratic front-runner has an array of connections to the for-profit education industry that some observers have said raise questions about the type of influence for-profit colleges would enjoy under a Clinton administration. Most prominent are Clinton’s ties to the global for-profit education behemoth Laureate Education, for whom her husband, Bill Clinton, worked directly, earning $16.5 million between 2010 and 2014. Although Trump hasn’t discussed for-profit colleges in terms of policy, as someone who once ran a for-profit college, he may be in favor of some of the measures Senators Rubio and Christie have suggested to support the growth of for-profit colleges, such as loosening rules on accreditation. Many of the candidates have ties to the for-profit college industry, but Trump is the only candidate who actually ran one. A popular political stance for Republicans in recent years has been to suggest eliminating the U.S. Department of Education altogether. So, don't assume the end is near for EDMC.
West regions are first.
Just Dallas campus?
Ai Dallas to close
My boss said all the campuses were closing... But they were not going to tell employees that much because the needed staff to run it out.
He told me to start looking for a job sooner than later because it was probably going to get ugly and chaotic.
Sure, they have to. But first EDMC has to close down Brown Mackie and Argosy. This is all going to take a while. Once BMC and Argosy have been dealt with, look for the Fed to cut off Title IV money and AI will shut down soon after. I see it all happening in the next few months before Obama leaves office.
Any thoughts?