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Topics regarding layoffs at Bridgepoint Education Inc.
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
So Last week it became basically official that the UoR on ground campus is closing. The few remaining students were told they had to change to the online mode. This of couse did not set well with those students and they are now threatening a law... read more
Internal Email from Andrew Clark "There is no doubt that we have passionate employees and strong leaders in our growing Denver location! " If you closed the UoR campus in downtown Denver, fired most of your staff, subleased the floors, and removed... read more
I am paying back a 35 thousand dollar + loan, for a associates degree that I CAN NOT USE!! I am very furious at this!! Nothing was done that I work so hard for!! Monies that I am paying back can be going to my family!! I shouldn’t have to pay the... read more
Bridgepoint Education, spent in a recent year more than $2700 per student on recruiting and marketing and only $700 per student on instruction. Industry leader the University of Phoenix wasn’t much better -- $2225 per student on marketing and $892 on... read more
Any opinions on Ryan Craig, one of Bridgepoint's long-time board members, writing a book on the future of higher education (College... read more
Q: If the Organization determines merit increases are possible in 2016, what will that amount be? A: Human Resources will communicate further once merit adjustment decisions have been made. Q: If the Company decides that merit/market based... read more
Approximately 75-90% or more of full time faculty (on campus and on line) were laid off at UoR this past week. No information was provided regarding future plans. Currently there are only about 14 faculty left. This could significantly impact... read more
Really? Not a single posting about the recent layoffs? Was there a gag order in those severance packages?
As i have said before,I think you will see them close the On ground campus of the University of the Rockies in Denver within the next 12 months as it continues to be a drain on their profits. Bridgepoint will probably be around in some form as they... read more
Well, the downward spiral continues... Millions were spent to create the UOR campus in Denver, although you couldn't really call it a campus because it is on the 16th st. mall in Denver inside a former retail area. Anyway they have stopped taking... read more
Andrew Clark continues to make misstatements about the health of the company. you will all want to read the article that just came out from an Analyst at Seeking Alpha. The only thing i disagree with in this article is them telling people to buy the... read more
Andrew Clark was named on of the top least inspiring CEOs in business....................................http://www.slideshare.net/TheMotleyFool/the-5-least-inspiring-ceos-in-america
With the Clinton, Iowa campus closing, what is left of Ashford University and Bridgepoint Education? This is a company that Senator Tom Harkin called "an absolute... read more
In Recent week there have been some High level staff cuts. Director of Security, VP of Real Estate, and some others. Another sign company is getting desperate. What company is dumb enough let your Security Director go unless the only thing you will... read more
The school will close the campus in May 2016 and will do a 1 yr teach out program for the remaining students. then students will be referred to the online school or other near by universities. BPI owns several pieces of property in Clinton which i'm... read more