Thread regarding Education Management Corporation layoffs

ITT Tech is the latest "for-profit degree factory" to get the ax! They have ceased new student enrollment. Without students, there is no one left to scam and make profits off of. EDMC stock is below $0.01 and is no longer being traded. The Art Institutes will not make it past 2017 and that is a generous statement. It is incredible how much power people have against these corrupt corporate giants, when they come together and fight back!

Lay off's this quarter?

Argosy and South are in the process of being sold, not AI.

Too funny fraud clown! No wonder they are ALL clowns! This joke was suppose to visit our campus weeks in & out & the clown was in the circus! MIA!!!! He might as well taken the other bandwagon of my campus with him!

You students are so ungrateful... Get back to your Pokemon GO

Even if AI pops its head out under new ownership, a shiny new logo and a fresh coat of paint, there is a strong movement of ex-students who have snowballed into a collective that are actively making a lot of noise about their experiences with EDMC/AI. They are a force to be reckoned with and are lock-jawed on this issue. There is no rebounding from this. This is where the gravy train tracks end for many.

After the latest rejection of a for-profit becoming a nonprofit by the Department of Education, I don't see EDMC as having a snowflakes chance in hell of managing to convince the DOE to let them transition.

http://www.ed.gov/news/press-releases/education-department-denies-request-chain-profit-colleges-convert-non-profit-status

Where do you suppose online shakes out in all of this? I imagine it will be one of the last AI's standing.

Exactly 3gza!!!

... and excited about listening to Mark spew out B.S. No thanks!

🖕🏼🍩

2jzf, you are so far off base about non-profits you aren't even in the ball park. You are confusing non-profit colleges with community and state colleges.

Boston and Jacksonville, Florida are teachouts.

There has been 5 new Administration employees hired in the last 3 weeks from other campuses. I have a strong feeling that there are going to be school closings or major layoffs in Tennessee, Boston and Florida. As for going non-profit, the entire school system would be overhauled. Government funding would mean much more student involvement (like a student government, community involvement and a real Alumni Association). For profit colleges have a 28% graduation rate - non-profit have a 65% graduation rate. The idea of letting any freshman in the door without SAT testing would be over. I am looking forward to the new CEO and his visits these next few weeks. This should be interesting.

Fraud Clown is an idiot. I can't believe they haven't fired him by now.

Changing from for-profit to non-profit would require the approval from the DOE and the IRS. Other schools that weren't in as deep of trouble were denied the move so I highly doubt they would approve this.

A new twist on the saying "One mans trash is another mans treasure" Not in this case. Trash is trash.

Can't wait to hear Mark shovel out the $hit.

When can we expect to hear an update or list of what is happening to which campuses? Will this be discussed in the EC meeting with Mark M. next week?

@1zgh - easy now

As someone buried in the mire that exists now, I hope the teach-out announcement comes soon. I personally have not had enough time to work on finding another job, once the announcement comes out I will dedicate most of my work days concentrating on finding a new job, as we all should.

To bad we couldn't see the actual email as noted with all those people it was sent to, then that would be great as far as evidence is concerned showing there is truth in this. I still believe it is true but until it is publicly announced or the emails are released showing everything that is shown then this is just hearsay.

1eie, it is the best news in the world to a former student. I'm not sorry at all, I loathe what EDMC became since 2004. This has been a LONG time in coming. There is life outside of EDMC and AI, move on. If you have talent you'll find another job. My advice is to do it while you're still employed, clearly the clock is ticking.

1zgh, don't be too quick to label it "the bwst news I've heard". That's what everyone said at the Corinthian Colleges schools whenthey heard the news that ECMC was buying the schools. Three months after the sale they terminated over 35% of the employees. Within a year about 65% of the employees had been released. A buy out of a struggling business usually means a huge reduction in jobs.

This sounds legit. It would be interesting to find out if it's one buyer or several.

That sounds about right. Thanks for some actual information. I'm kind of surprised anyone wants to buy an AI school, but people buy junk bonds too.

Thank you OP, this is the best news I've heard in awhile. Please keep us informed if you learn anything new.

Phase one of the final collapse

Apologize for Typo, title should read "On Verge of being Sold"