Palm Ventures knows about profit making in for-profit education.
https://www.bloomberg.com/research/stocks/private/relationship.asp?personId=54774640
What will it take for DeVry to turn a relatively quick profit? I've heard some say they will need to close campuses. If so, how many campuses would need to close? Any other strategies?
As a former employee of DeVry what I know is this - Their reputation will only improve if they stop admitting students and rubber stamping appeals for students with questionable ability to benefit and motives, e.g. school hoppers with a history of heavy borrowing but never paying a dime of their loans or a history of failing and withdrawing from classes. The school has some good career focused programs, but they are unfortunately catering to the lowest common denominator by taking all comers then never putting their foot down when someone asks to borrow more money they cannot possibly repay or asking to return after 6 or more failed classes.
It's difficult to promote a pure on-line school
The institution standards have been attenuated so much that it can only survive as an online entity!
To make DV profitable first, the old integrity and honesty needs to be restored by letting go all key manager who are just pretenders!
Post ID: @Rn3081z-1kiu
Heard that 80% of DeVry(maybe DeVry/Keller) classes are currently taught online. That would make it easy for Cogswell to come in, run those courses, and jettison what's left of brick and mortar operations.
while DF said expect no changes in FTF, questions about the future of courses not in DVU's wheelhouse(and, presumably the people who teach them) were sidestepped.
Sonebody posted a link from Palm Ventures Talent search. They are looking for a ceo for Cogswell
People keep bringing up Palm Ventures. Can anyone explain Palm Ventures relationship with Cogswell Education LLC? It seems they may have been an investor in the past, but I don't see any evidence of a current connection between the two.
DeVry's student population is dropping, precipitously, from 75,000 to 19,000, now. It's obviously not in PV's interest to keep anything that impacts or accelerates this decline. My only question is how quickly they'll conclude that most of DeVry just isn't worth saving, at least, as currently configured. I'd guess the name is in jeopardy, as well as the on-ground campuses. If I were PV, I'd try to make a clean break, and present the 'new' venture as far removed from the old DeVry as possible. They're not likely to repeat the Everest fatal error of continuing to operate with the same name, and same facilities. I'd expect that non-teaching management will be the first to find themselves out.
So what nuggets of corporate bs were shared by DF at the meeting?
This has always been about DeVry's online assets. The campuses are toast!
@Rn3081z-wyn and @Rn3081z-1wie, I think you're both right. I don't think it will be in Cogswell's best interest to keep the physical locations because they'll be an added expense. Adtalem owned the real estate, but Cogswell will basically be renting it, meaning that it's even less cost effective for them than it was for Adtalem, especially since the campus populations are minuscule now. I expect DVU to become a fully online university. I wonder if Cogswell will keep the DeVry name though. If I were them, I would dissolve DeVry completely and absorb whatever programs and faculty are aligned with Cogswell College's offerings. The damage to the DeVry name is extensive and probably not worth repairing at this point.
This is all speculation, of course. It may be a while before we find out since our "leaders" like to stall until the last possible minute to tell us anything. I hope tomorrow's faculty meeting with Field will drop some hints, but I'm not holding my breath.
If the deal survives, Cogswell may convert to an online only school and close out (teach out) local campuses and force existing students to complete online.
Here's what you may look for tomorrow and in the days to come.
The deal will go through...nothing for Cogswell to lose...they get the keys to the car, and DeVry promises to keep the tank full.
They'll keep the DeVry brand for the time being while they assess just how much damage current leadership has done. Besides...it would be too hard and too costly to introduce the Cogswell brand to this market. Stay in the shadows...see how things go...reassess later. That will also give them time to assess staff and facilities...unload personnel and property they don't think figure into the plans....keep what helps their core interests.