http://investors.adtalem.com/Mobile/file.aspx?IID=4183694&FID=392075863
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The whole and true reason of Cogswell's involvement is the "intellectual property of DeVry. Cogswell doesn't care about DeVry as a whole and having Upper Management saying....."we were waiting for the right school to continue DeVry growth!". This is so B#$#*&^@!!! DeVry cannot just sell its intellectual property by it self, so we have to grow through a transitional change with Cogswell. Once the deal is done, Cogwell will say, "thank you for the property and DeVry good bye!!!"
What happened to Ron? Such a decent guy.
Ron Cimo was one of those selfless individuals who helped connect students with scholarships...he will be missed
@The Truth is a corporate lawyer for Adtalem putting out lies and propaganda to confuse regulators when they read these posts from employees.
Some of the DeVrys aren’t even known as DeVry anymore. Some women choose to take their partner’s last name at the time of ceremonies, and if you think women can’t be rich or hold rank in a secret corporate syndicate than you are so wrong.
@RBKLn58-3wah ...and if memory serves the university was sued for making such a claim...but back to the family tree...Herman DeVry died in 1941...his two stepsons sold the business to Bell and Howell...to my recollection, there's been no DeVry family involvement since..so the low profile you're talking about has to be subterranean...The only DeVry's I think of are the actor William DeVry, and a woman...perhaps a granddaughter, living in Mexico. Am I missing someone?
In the 80s and 90s, over 90% placement was absolutely true. The past two decades, not so much. Their illegality was in advertising the past.
@The Truth, actually DeVry was successfully sued by the FTC for stating that their gainful employment numbers were that high.
"DeVry is the school that had over 90% of students employed in there majors in 6 months, so let’s all keep our facts straight."
The DeVry family keeps a low profile in their involvement with operations. They’re not in it for the money but rather to preserve Herman’s legacy. The DeVrys have invested Herman’s fortune and royalties well and have way deeper pockets than Adtalom. DeVry is the school that had over 90% of students employed in there majors in 6 months, so let’s all keep our facts straight.
just how much clout do you think the DeVry family has about the disposition of the school? I don't think there's anyone on the board/
I think people are freaking out for no reason. DeVry is a great school with roots back to 1931. DeVry is HIRING people, not firing them. The change to Cogswell will just allow the school to better focus on its strategic priorities. The DeVry family would never let the school shut down.
no...but people involved in helping students earn scholarships have been sacked.
Is Bose Audio system also being discontinued at the home office?
here is the SEC document filed by ATGE to declare the "discontinued operation"
https://seekingalpha.com/filing/3857612
and while we're all distracted by discontinued operations...home office decided to discontinue the employment of a few of their own...
Just so I'm clear...the term Discontinued Operation was used by LW in the earnings call?
JB should be asked about "discontinued operation" in the Townhall
There's no scenario where a 'discontinued operation' would be placed back on the books, not ever. If the deal with Cogswell falls apart, DeVry will be immediately liquidated. The 'discontinued' status means, like, forever, in accounting parlance.
DeVry University is a "discontinued operation"??? Really??? That's cold...
yes that term "discontinued operation" which was cheerfully proffered by the CFO made me thinking if the entire charade of "transfer of ownership" is nothing but Adtalem trying to mask the dv write-off and minimize the costs associated with it like severance and liquidation etc. Cogwell which is just a front for a Vulture Capitalist firm is being paid (in terms of online and accreditation assets) to act as a front while Adtalem off-load Devry from its books.
The question is if the deal with Cogswell fell apart would they discontinue using the term "discontinued operation" ? Would they welcome Devry back to Adtalem? doesn''t look like it with the deployment of this new term "discontinued operation"
I guess we have to wonder, what exactly Cogswell thinks is going to happen, with enrollment dropping by 20%+ each year? I can't think of a scenario here with any real prospects for continued employment. DeVry now is a 'discontinued operation', to Adtalem. Obviously, something drastic is coming.
there is nothing new in the quarterly earnings report transcript regarding DV transfer except LW mouthing off talking points. None of the brokers really prodded them on it.
No I think it's a combo of Keller/DeVry. Looks like we have a 3,000 student cushion. That's why leadership is pushing faculty to hand out passing grades. They just want to keep asses in seats until the transfer goes through.
RBKLn58-1dkc ...so if I understand this, we have about two months to come up with an additional 3,000 students, or else the deal is off?
Section 10.01 Termination of Agreement:
This Agreement may be terminated and transaction contemplated herby may be abandoned at any time prior to the Closing:
(g) by Buyer upon written notice to Seller, in the event the Enrollment Shortfall Amount is 900 or greater;
"Enrollment Shortfall Amount" means the amount by which the population of students enrolled at the University on May 22, 2018 for the May University session falls below 22,059 students; provided, however, that such date is consistent with past practice to the enrollment date Seller has used in previous public company disclosures. In the event May 22, 2018 is not consistent with past practice, the enrollment date would be consistent with the reporting date the University would use for its May 2018 University session in its public company disclosures, and such date will be used for determining this amount.
Does this meet the criteria specified for the transfer:
DeVry University FY 2018 FY 2017 % Change
Undergraduate – November Session
New students 2,359 3,092 -23.7%
Total students 18,385 24,015 -23.4%
Undergraduate – January Session
New students 2,439 2,528 -3.5%
Total students 17,859 22,994 -22.3%
Graduate – November Session
Coursetakers(4) 7,488 9,589 -21.9%
Graduate – January Session
Coursetakers(4) 7,602 9,553 -20.4%
1) Includes the most recently reported enrollments at Adtalem’s postsecondary institutions, excluding DeVry University
2) Post-licensure online programs only; pre-licensure campus-based programs start in September, January and May
3) Includes enrollments in its medical and veterinary preparatory programs
4) The term “coursetaker” refers to the number of courses taken by a student. Thus one student taking two courses equals two coursetakers