Thread regarding Art Institutes layoffs

A nice little timeline...

https://www.educationdive.com/news/timeline-how-dream-centers-higher-ed-bid-went-off-the-rails/550339/

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March 18: Because of Argosy's sudden loss of Title IV access, Dottore said DCEH was unable to pay around $2.5 million in payroll expenses for the organization's remaining employees. In court papers, he outlined possible sources of funds to pay them, including old DCEH bank accounts, property sales, money left in a letter of credit with the Ed Department, and a legal fund held by DCEH's lenders. Others sources include possible lawsuits and "sizable insider transfers that could be recovered."

😭😭😭

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Post ID: @Z6PVb8I-2piw

March 13: In a letter to Education Secretary Betsy DeVos, more than 80 federal legislators criticized her department's handling of Dream Center's acquisition of EDMC's college assets, saying the resulting closures "signal a pattern of severe mismanagement and dereliction of duty" at the department, which they allege was "complicit" in the nonprofit's "efforts to mislead students."

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