There will be many people and organizations wanting to take legal action against EDMC. But this will be pointless. The Directors will walk away. Goldman Sachs will walk with billions in profits. 100,000 students will have no degree and debt.
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Last posteris spot on. I was denier too and then I got out...what I'm saying is...gtfo sooner than later
Mr. Idiots, it sure sounds likes you have a sharp business acumen from reading all of those business books that you just referred to in your last reply. With such a vast knowledge of bankruptcy business, surely you must know that schools lose access to ALL Title IV funds when they declare bankruptcy. For those of us on here that don't have the level of business insight that you do, I'll sum it up in simple words. IF EDMC declares bankruptcy they lose access to all of their income from federal student loans and grants. I'm sure it won't be a problem if they lose almost 90% of their revenue stream, right. Since you obviously work at EDMC, you must know how easy it is to find cash paying students. There are a tons and tons of cash paying students, right? The last I heard there were thousands of cash paying international students lining up to enroll, right?
Bankruptcy is a death knell for any education company Mr. Idiots!
That's why Corinthian tried so hard to avoid bankruptcy. I'm sure you heard when that happened, right? Corinthian closed the doors the same day they declared bankruptcy.
However, with all of those business books I'm sure that you have an answer for EDMC to make up the loss of almost 90% of their revenue stream IF they declare bankruptcy. I'm sure EDMC would be very grateful to you for solving all of their financial woes with your business books. Let's hear it!
Read a few business books. Bankruptcy doesn't mean the end of a company. It is a reorganization of debt. Many companies use it to thier advantage.
People are trying to manipulate the stock price?! It's a DIME!!
No one can now make money from EDMC stock. The company is now running at a loss and it getting worse.
Please be careful about the extremist comments about EDMC closing. They may be true for all I know, but I am 100% certain that one of the posters is tying to manipulate stock and stands to make a profit if they can scare enough investors, regardless of where they are posting comments.
We cant wait to see read,jacobs,godec etc filing for unemployment soon. Then trying to look for a job that actually requires you to work. Walking around w a laptop like a pizza isnt working. Youve worked for a failed college that cooked the books and hr covered up you sleeping around. It may of worked at edmc high school, but not in corporate america.
What happens is that they lock the doors then declare bankruptcy.
If they don't do that then employees and students will steal whatever they can to cover losses.
You will see people carrying out the furniture and fittings and putting them into their truck.