Here's an update to my College Meltdown report:
Subsidiary Walden University has second largest US student loan debt ($9B)
LAUR only makes a profit by selling off schools
LAUR has been underwater with debt since IPO
Balance sheet has always been questionable (intangible assets/Goodwill)
LAUR downsizing means greater influence of Brazilian schools.
CEO change in Brazil as revenues decrease
Initial investor Wengen (including KKR) is divesting
Stock buyback to prop up the stock price
Former CEO Doug Becker partnership w/ ASU ("Cintana") for international online students. Former LAUR executives have moved to Cintana.