Wonder how many millions of dollars were funneled to pay this off
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Topics regarding layoffs at Bridgepoint Education Inc.
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
Without Warburg Pincus, Bridgepoint would be toast. https://en.wikipedia.org/wiki/Ashford_University
pdated - September 12, 2016 1:30 PM EDT) CONSUMER FINANCIAL PROTECTION BUREAU TAKES ACTION AGAINST BRIDGEPOINT EDUCATION, INC. FOR ILLEGAL STUDENT LENDING PRACTICES CFPB Orders Full Relief and Refunds for All Private Loans Made by the School The... read more
Disclosure: Short Position. Enjoy.
We are nect http://www.indystar.com/story/money/2016/08/25/itt-tech-banned-enrolling-new-students-who-rely-federal-loans/89350678/
Looks like layoffs might be post poned
"Republican U.S. Sen. Kelly Ayotte is coming under fire from her opponent for accepting donations from Bridgepoint Education, which being investigated by the U.S. Department of Justice. Ayotte, who is facing Democratic Gov. Maggie Hassan in one of... read more
From David Halperin: "According to a federal disclosure form, Dole and two colleagues will lobby on the issue of 'Post 9/11 G.I. Bill Benefits,' meaning educational benefits from the Department of Veterans Affairs for U.S. military veterans."... read more
"While Bridgepoint Education, Inc., still has its name at the top of the building at 600 B Street, that sign is coming down soon. A Bridgepoint spokesperson did not respond to questions, but a source close to the situation said on July 5 that the... read more
It couldn't happen to a nicer group of CEOs. https://www.insidehighered.com/news/2016/06/10/ashford-university-brink-losing-gi-bill-benefits
Bridgepoint Education, the parent company of Ashford University, announced in a corporate filing last week that it has received a second subpoena from the U.S. Securities and Exchange Commission. The subpoena is related to investigations by the... read more
At the time of writing this post, the BPI stock has fallen .46 in a matter of 3 hours. This is coming after Bridgepoint disclosed a subpoena from the SEC. Sign of things to come?
BPE, had a net loss of $10.1 million! Student enrollment dropped from 55,312( March 2015) to 50, 814(march 2016). So things continue to head downward for Bridgepoint... more to come soon.
40'plus hires . This is insane
And another huge training class starts in a few weeks...layoffs got to be massive and they got to be coming real soon
Ashford is having a huge hiring event on March 12 for enrollment counsellors yet there is a huge loss financially and they have already hired hundreds of sales reps. Does this mean they will be trimming the top $$$ folks and hire cheaper replacement?
So the drop in income continues. BPE had a Net income loss of $6+million for the 4th quarter. Overall for 2015 they had a net loss of $70+million. The still have well over $350 mil in assets in the bank. but sure are not going to spend it on... read more