Thread regarding Bridgepoint Education Inc. layoffs

Zovio Announces Letter of Intent with Ashford University Nonprofit Entity to Convert and Separate Ashford from Zovio

Looks like Zovio may have c-apped out. Wonder how the shareholders will take this.

https://seekingalpha.com/pr/17740545-zovio-announces-letter-of-intent-ashford-university-nonprofit-entity-to-convert-and-separate

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Post ID: @OP+12TPgFB9

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The comments below the Inside Higher Education article may be worth more than the article itself.

"How much of Zovio's corporate debt will be assigned to the NFP? It could be that they are using vulture capital methods to save Zovio by sinking Ashford."

"That's exactly what they're doing. Ashford just laid off 300 workers and Zovio just hired (or plans to hire) 300 workers at their Chandler AZ location. They also have given some San Diego based employees the opportunity to transfer to Chandler. It seems that they are stripping Ashford of the people they want, downsizing to keep the stock afloat and then will take on Zovio's debt so it can die a slow death and Zovio will emerge untouched financially."

https://www.insidehighered.com/quicktakes/2020/01/07/ashford-university-split-parent-company

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Post ID: @2ksr+12TPgFB9

This Zovio sale of Ashford to AU NFP (the other hand in a 3 card monty) gets more surreal by the minute.

"The Company anticipates that the Facility will be structured through the use of an insurance trust with a 15% interest rate, and customary fees...."

https://www.sec.gov/Archives/edgar/data/1305323/000130532320000003/a8-kxitem801loidec2019.htm

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Post ID: @1fqi+12TPgFB9

The comedy team of Clark and Royal..."best in class." Blaming the failure all on the government.

https://event.on24.com/eventRegistration/console/EventConsoleApollo.jsp?&eventid=2168088&sessionid=1&username=&partnerref=&format=fhaudio&mobile=&flashsupportedmobiledevice=&helpcenter=&key=0AA37168577E00B08E2E0B8F8705752D&newConsole=false&text_language_id=en&playerwidth=748&playerheight=526&eventuserid=267074009&contenttype=A&mediametricsessionid=223824118&mediametricid=3061648&usercd=267074009&mode=launch

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Post ID: @1xqn+12TPgFB9

Isn't that SPECIAL?

https://s23.q4cdn.com/742949744/files/doc_presentations/2020/Zovio-LOI-Conference-Call-Slides-1.7.2020-FINAL1.pdf

Check out page 4.

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Post ID: @1srz+12TPgFB9

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