Thread regarding FTD layoffs

Some background info on Apollo Global Management

Researched this Apollo Global Management (where some Nexus Capital execs used to work, apparently).

Specializes in buying distressed companies and "revamping" them.

https://news.elearninginside.com/meet-apollo-global-management-the-biggest-for-profit-education-manager-in-the-world/

Here's some info on University of Phoenix.

https://www.propublica.org/article/at-u-of-phoenix-allegations-of-enrollment-abuses-persist-1103

Apollo Group "put aside $80 million to settle a whistleblower lawsuit"?!?

https://money.cnn.com/2016/02/08/pf/college/university-of-phoenix-online-sold/index.html

https://money.cnn.com/2015/07/29/pf/college/university-of-phoenix-investigation/index.html

Ever wonder why the fat cats who work for these buyout shops always attend prestigious schools like Chicago Booth, Kellogg or Harvard rather than get their own MBA from the for-profit schools they own and market to the masses?

Just saying

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Verrry interesting

Apollo Global Management (from which some execs from Nexus Capital exited from to start their own buyout company) bought Apollo Education, owner of the infamous University of Phoenix.

https://www.wsj.com/articles/apollo-education-to-explore-strategic-alternatives-1452516388

The University of Phoenix was under criticism and regulatory scrutiny some years back over speculation that they were enrolling students who were just not qualified, hence their dismal job placement rates (the educators were not the issue; they enrolled virtual seat fillers to increase profits).

So that's where some of the Nexus Cap people came from.

Arguably, they know what they're doing, financially. You do see University of Phoenix still operating and running ads like "I am a Phoenix" (to try to salvage and improve the image).

Call it what you want, turnaround, transformation, revamping or putting lipstick on a pig in some cases, but there's money to be made doing these deals.

Don't count on job security working under these types of firms, though.

Would love to post more fascinating discoveries about the PE angle involved, but honestly, I think companies that are still public, actually growing, have "ohana" cultures of trust and a cool CEO like Marc Benioff committed to equal pay and opportunity for women are more fascinating in a positive way.

Know all that is to be known about FTD. Guessing they either acquire other firms to stay relevant OR get merged/bought out by, I don't know, Teleflora? Who knows! The new leadership team has execs with M&A background.

Salesforce is more interesting.
Benioff is more humane, less "Wolf of Wall Street" in his leadership style.

Enjoy the informative links.

Don't get too attached to any job working for an employer. Corporate is mostly full of ruthless types, unfortunately. Very few Benioffs out there. Start your own business when the COVID-19 hysteria is hopefully resolved with a vaccine already (cuz these stupid masks are getting really annoying in the warm weather).

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