What did ECMC get wrong in their 2014 deal with the US Department of Education? And are they done with all obligations in February?
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Like @KILAvQR-3sri below, I work at ECMC. The place is not the same. Senior leaders are bickering. CFO doesn't talk to anyone apparently pouting about having to report to a woman. Org is being run by a committee who don't like or respect each other. Hardest working executives there have been marginalized. Zenith could work but not with all the dysfunction. All they care about is getting more loans handed to them from the Department of Education. No one wants to do the hard work. A strong company is in serious decline.
It's hard to imagine why Zenith would own any valuable property other than Wyotech. Corinthian Colleges was even selling schools in 2014 before they hit the wall.
They own the WyoTech campuses, not sure about Everest.
Assuming that the "hold" period for Zenith is February 2017, what happens to the 20+ campuses after that? Can they really find buyers for Everest campuses? Does Zenith own any of the campuses or are they merely leases? When do the leases expire?
What they got wrong is that the schools were in worse shape than anyone could have known. I still work there. Our former CEO was an inspired leader. He's gone. There's really no inspiration left at the company. We are led by a committee who spend hours in meetings on things that should be decided in about 2 minutes. The guy running Zenith has said he'll only do it for a year. I think that tells you what happens next. It's too bad. The country needs vocational training options but it won't happen with the right leadership. We dont have it here anymore.