It was stated 2 years ago the plan was to wind the schools down and close them. Dave Hann knew exactly what was going to happen and jumped ship a year ago. Peter Taylor said a year ago he was only going to be with Zenith one year. We said this wasn't going to last 3 years and it didn't. The wind down and closing should not come as a surprise to anyone.
7 replies (most recent on top)
I don’t know of any legal issues on the ECMC side, and always regarded it as being a well run operation. I would be very surprised that it in anyway impacted the recent decisions. The fact that Zenith is losing 1/4 billion a year is the cause in my mind unless there exists evidence to the contrary.
GOOD RIDDANCE TO A VERY BIG HEAP OF GARBAGE... ABOUT TIME. I wish it had been sooner for the unlucky fooled sudents it snared.
Agreed, shut down was more abrupt than expected. When it was discovered that the current CFO was not relaying the truth about the losses to the board, and the real losses were disclosed; it prompted immediate action. Very tragic, as the incompetence / arrogance from Minny has negatively impacted both students and employees lives. No matter how they spin it, this was a result of the poor leadership in Minny, the utter disregard for fundamental business practices, and the collusion between the D.C. and Minny "ham and eggers." Hawn and Taylor will be at a liberal shine on party some day saying, " yeah, I was in the school business once, though business that school business, turns out it was harder than I thought" "oh well we still have our 6 figure incomes... Nero a tune please, and boy top this wine off for us, will ya?" "Has anyone seen the Podesta crew?"
There is a meeting in one hour with us peons. We are going to feel the boot! Cheers!
Original post is pretty much spot on, but the closures were not supposed to happen this soon. ECMC was forced to pull the plug sooner than expected due to looming legal issues on the ECMC side (side that makes the money). We're talking substantial criminal matters. Total lack of oversight and utter incompetence.
Zenith Education Group was bought and paid for by the tax payers under the Obama administration to close down Corinthian Colleges. All the mooney investigated into the schools came from the Department of Education and now that the Trump administration has shut off the cash flow out of the DOE to ECMC Zenith has collapsed. It was all a sham from the beginning with intentions of continuing into the future. As soon as they reached that 2.5 year no sale or closure clause in the sales agreement the board of directors said to pull the plug. Zenith Education Group and Obamacare have one thing in common, they were both designed to fail.
Exactly! Finally, someone with a clue who understands how the world REALLY works.
All these peons who assume the execs think like they do or don't know anymore than the peons do. So, so wrong. The execs know the plan and are carrying it out.
Peons assume the plan is a longstanding business, because that way peons have a job for the long run,. They never consider that the plan cares little for their meaningless little lives, its only purpose is to make the execs rich before the company folds.
Wow, shocker huh peons??!!
Keep watching American Idol and Home reno shows, no wonder you're clueless.