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Topics regarding layoffs at Bridgepoint Education Inc.
Did someone just sell off more than 50K shares of BPI? http://www.nasdaq.com/symbol/bpi/sec-filings
"Ashford University on Tuesday suspended enrollment of students using GI Bill benefits, according to a corporate disclosure filed on Wednesday. The for-profit institution, based in San Diego, made the decision days after the U.S. Department of... read more
"This does not pass the smell test," said Carrie Wofford, president of Veterans Education Success. "How could a company that’s headquartered in California hastily open a tiny office in Arizona, pull a lot of political strings, and get Arizona to... read more
ESAs, Was hoping to get feedback regarding new team structures, bandwidth and your thoughts in general.
Very interesting read: https://seekingalpha.com/article/4118034-bridgepoint-education-declining-business-cheap-enough
I heard it. Did you?
Someone hit the nail on the head last week regarding enrollment numbers. And now the numbers are out. "Enrollment at our academic institutions decreased 11.9% to 42,132 students at September 30, 2017 as compared to 47,831 students at September 30... read more
Moving to Arizona? I hear its a dry heat.
What's with the CFO quitting for personal reasons? Is there an illness that for-profit college CFOs are getting? And what's the deal with hiring a former Apollo Group CEO to sub?... read more
The Department of Veterans Affairs (VA) intends to waive the application of applicable Federal regulations (see SUPPLEMENTARY INFORMATION) for all VA employees who receive any wages, salary, dividends, profits, gratuities, or services from, or own... read more
They are hiring again... oct 30 next training class
Anyone care to guess on the enrollment numbers for Ashford at the Earnings Call?
According to the NCES, the 12-year default rate at for-profit colleges is 52%. Is Ashford any better? http://www.chicagotribune.com/business/ct-biz-for-profit-college-loan-default0-20171005-story.html
Bridgepoint should be receiving a letter from Victory Media telling the company to stop selling Ashford University as a "Military Friendly School." Ashford no longer has the designation, and is deceiving veterans by advertising that they are.
Worth a read: https://www.macroaxis.com/invest/ratio/BPI--Probability-Of-Bankruptcy Main issues: -Diminishing cash reserves. Down to $190M currently (on $260M market cap). True company valuation at $70M. -Constant earnings and margin issues... read more
Wonder how many millions of dollars were funneled to pay this off
Company is starting to go down a slippery slope. Managers are now giving corrective action if you don't generate your own students who are interested in school (referrals) in other words if you don't bring money to the table on your own you are in... read more
Executive voluntary departure Continued layoffs Financial issues Departing shareholders (Warburg) VA funding issues Increasing competition What's your estimate on how much longer this company will be around?
Senator Warren's letter to the Ethics Committee is here" https://www.warren.senate.gov/files/documents/2017_08_15_DeVos_letter_Eitel_conflicts.pdf
Shareholders must be asking what Bridgepoint is keeping quiet about. https://www.sec.gov/Archives/edgar/data/1305323/999999999717008148/filename1.pdf
Word is they are trying to get rid of almost all ESA's and transferring the remaining to the Denver location
Included a woman who gives birth to a child in two weeks. This place is a ghost town and now even more ...I have a feeling a lot more people will be canned This week
Bridgepoint laid off 65 people between last Monday, Aug 14 and Friday, Aug 18, myself included. No warning, no time to bid colleagues goodbye, just boom, done and out of the building. I since heard that people in leadership and management were also... read more
The Department of Veterans Affairs warned Arizona officials about running afoul of federal law after the state approved Ashford University’s ability to accept GI Bill education benefits, according to a letter obtained by POLITICO through a public... read more
Bridgepoint chief operating officers resigns !!
Unfortunately more employees lost their jobs today. Uncertain of the numbers, but it primarily affected those in Finance, Marketing and Facilities.
The company who owns 26 percent of bridgepoint stock is dumping it today. In addition ashford bought $150 million worth of stock a few months ago not sure what is going on
Why is it that Ashford people haven't said anything on this site? It's obvious that people are reading the posts. Are you happy with what's happening at work? Are you concerned about your job? Do you have concerns about the students?... read more
The VA says that Ashford students using the GI Bill may be SOL after August 16, 2017. This includes payments for housing assistance. For legal support, the VA mentions Veterans Education Success for legal support... read more
"An Iowa District Court has dismissed a petition by Ashford University, asking that the Iowa State Approving Agency allow Ashford's online programs to be eligible for GI Bill benefits."... read more
Trump may be business friendly, but his higher education also plan includes defunding. https://www.linkedin.com/pulse/trumpdevos-college-meltdown-defund-deregulate-dahn-shaulis
Anybody here getting a free lunch? http://docquery.fec.gov/pdf/633/201706209063518633/201706209063518633.pdf#navpanes=0
Eitel is leading President Trump's plan to regulate government as it relates to higher education. Public testimony will start in July, but the deck will be stacked.
On June 1, 2017, Bridgepoint Education, Inc. (the “Company”) appointed Steve Burkholder to serve as the Company’s Vice President, Chief Accounting Officer and Corporate Controller, effective immediately. Russell Sakamoto, who served as the Company’s... read more
Talk amongst yourselves
Looks like Bridgepoint is the last of the large for-profit college companies to be paying up in DC. And most of its going to Republicans. https://www.opensecrets.org/pacs/lookup2.php?strID=C00478404&cycle=2016
Betsy DeVos named Bridgepoint executive Robert Eitel as an advisor. https://www.nytimes.com/2017/03/17/business/education-for-profit-robert-eitel.html?_r=0
Another losing quarter. Enrollment down. Revenues down. Another net loss. Last quarter was terrible at more than -$13M net loss. https://www.sec.gov/Archives/edgar/data/1305323/000130532317000016/bpi201610k.htm