My feeling is that with this new investor coming in with their 70 mil and the new board members there is a new controlling interest for uti. Heads at the top will roll as these people make changes at the senior level. Thats a good thing. This place rotted from the top down and thats where the change needs to happen.
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Is UTI going private?
Profit, Profit, Profit, What a bitch. Karma is going to get you Kim, and Karma is a bitch.
2.71 and dropping wowee
Stock closes at 2.80. Nosedive.
Oh no! all the instructors will have to get jobs in the field, good luck on that. If you guys and gals want to get a job, don't put that you worked at U.T.I. you wont get hired anywhere, it will be just like when a student applies for the same job, they see U.T.I. and the resume goes straight to the trash. A great place to work, give me a break, o.k. maybe 12 years ago.
Well, it wont be long now. Earnings call in a bit and stock hitting the tank. Sad.
I worked there years ago and loved it. That was when they still wanted to be a great place to work. I see that has gone down the tube.
Investor analysts including Credit Suisse have stopped tracking the company.
Before I left from the Rancho Campus I was a TTL. I caught some instructors leaving answers on the white board and I told my EM and I was told they would take care of it. They did that instructor received a raise and I did not. That is when the management stared to harass me and I had had enough and left. I have seen the writing on the wall for quite some time. Good luck gang .I still have friends there and everyone feels the pinch. They have horrible management and those people need to go. They also have some great instructors and some are very dedicated. You also have some you wonder why and how they hold down a job. Some show up to work when they want and they are the one who get praise. The dedicated ones are the ones who management bully around. To the dedicated good luck. The management you are getting what you deserve.
Yeah, this is really sad.
I hired a couple of kids with 4.0's from Orlando. They couldnt do the work, at all. But they had perfect grades. I called some people I know within UTI to enquire about their new diesel program in Orlando and how their new curriclium was going. Hell these kids couldnt work and were very ill prepared to go to work. I found out that aparently the instructors there "pre load" their grade books with perfect scores then adjust them down from there. I had heard that before. Everyone starts at 100% and then works their way down. This allows their grades to be artificially inflated and they pass.
Duane Kramer had to het involved to stop this practice but I bet it still goes on. They only follow the rules when someone is looking.
The DOE needs to investigate their grading practices and see if they are just passing these kids for the money. Pull a grade book audit and I bet there are scores entered that the instructor dosent have paperwork for. Thats falsifying records and is illegal. Have someone official grill any one of the EM's and they will admit that it happens.
This is what lead to the fall of UTI. Greed. Anything to get these losers out the door and on to a future if debt and misery with a diploma and no real skillset.
What does this mean? You really have to ask that question? The writing is on the wall, no more U.T.I. is what it sounds like. You did a wonderful job Kim, ran that F-er into the ground.
So, what does this mean?
UTI cannot continue to lose this much money every quarter. .......................................http://finance.yahoo.com/q/is?s=UTI
The end is near. The next earnings call will be a doozy.