Even if ECMC intends to reform this shit-hole, the managers aren't going to go easily. They will be a kickin' and a fussin'... a lyin' and a blamin'! It's going to get even worse and may not even get any better. ED and the AGs and every other regulator that was trying to shut CCI down was the least of our worries. We are in a dying industry and the other players do everything better. Just compare our pitiful ads with UOP's. It's been obvious for a looonnnngg time that CCI had stooped to trying to pick up the losers that nobody else wanted to be bothered with. We are the bottom-feeders of a bottom-feeding industry. Do you need proof? Our stock went from a high of $33 in 2004, to $20 in 2009, to $5 by 2011, to $2 in 2013, to $0.06 right now! Before any of this regulatory shit was announced, the stock had already fallen to below $1.50 due to absolute crap management from the top down. See the big picture! None of the many experienced, competent players in the industry wanted to buy us even though the price was peanuts. There's a reason. ECMC took the bait because they know nothing about this industry and its trends. Our schools are turds and trying to polish them will just release the smell.
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62119 ... paying companies to purchase colleges became the norm for may in the industry. The drop in the stock price had nothing to do if there was interest in purchasing or not. There were many schools that were looking to buy the assets. Please take a look at the MOU. Any entity that was looking to purchase -- could not have any pending investigations. In addition, many AG made it quite clear that a for profit purchase would not pass muster.
Get off of your high horse.
yes I'm in Admissions, yes I got an offer letter, yes the salary is the same.
62144: I can tell you're Admissions. What I'd like to know id whether you got an offer letter and whether it was at the same pay?
Wow, OP, way to make things look really, really bad. I see us as specializing in the complate and total losers. As long as our government will give basically unlimited funds to any idiot who enrolls at any "college" we might as well get our share. If it weren't for CCI/Zenith, a lot of that Pell money would go unclaimed. As it stands, we claim it and spend it forward when we get our paychecks. It ends up back in the economy and the cycle of life continues.
119: Correction, a year ago was 2014. It was 2013 when we paid to sell off a few under-performing campuses. That is a lifetime ago in this industry.
"There was a ton of interest from many other parties." I agree that 62118 is smoking something. Oh, well, it's Friday, so enjoy being blissfully ignorant! Monday's gonna be harsh.
Anonymous62118: Ha, ha. Yeah, right...good try, so I'll give you a booby prize for that! So you're saying that (1) the massive stock drop meant nothing, (2) that LOTS of people wanted to purchase us but weren't allowed, and (3) that the fact that a year ago we PAID to have companies take campuses off our hands is irrelevant because we have become so much more valuable since then?!? What in the hell are you smoking? Or did you hear that from your superior and just know that it's gotta be true?
To help you out a bit -- none of the other players were invited to the table for many reasons. The largest one being that no one was allowed to bid on any campus if they were under any level of investigation. There was a ton of interest from many other parties. However, they were looking to buy pieces -- not the entire.
Oooohhhhh, scaarrrryyy! Yes, Mr Smarty Pants, we are aware of what's going on. We haven't had our heads in the sand. All posts like this do is upset us more when we've already been through enough and every single one of us is working our ass off to try to find a new job! Just stop making it worse!