Thread regarding Corinthian Colleges Inc. layoffs

News Feed Mar18 2014 Look out Latin American Students

http://www.theflyonthewall.com/permalinks/entry.php/ORCL;ADBE;COCO;EXAS;PSUN;CWH;NUS;HLFid1980888/ORCL;ADBE;COCO;EXAS;PSUN;CWH;NUS;HLF-On-The-Fly-After-Hours-Movers?symbol=ORCL;CWH;COCO;HLF;PSUN;ADBE;NUS;EXAS&page=all

17:27 EDT COCO

Corinthian Colleges holder Shah Capital urges evaluation of non-core asset sale

Shah Capital, which holds a 5.64% stake in Corinthian Colleges, disclosed in a regulatory filing that it sent a letter to the company's board suggesting, among other things: an immediate evaluation of a possible sale of Wyotech, and/or any other non-core assets in order to free up enough cash to provide the company breathing room to survive its most recent crisis. Shah suggested the company establish a team to identify and enroll the 800,000 Latin American students in California who have tried to attend Community College, but cannot find a seat due to overcrowding, and also recommended the company immediately reduce headcount 10% with internal plans for additional 5-10% in second half of 2014. Shah also suggested that as soon as Corinthian is cleared from the Financial Responsibility Composite Score, the company repurchase 10% of the outstanding shares over the course of calendar year 2014.

by Anonymous6686
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Post ID: @OP+uH9TJWZ
Comment! It's anonymous!

7 replies (most recent on top)

I find it hard to believe that CCi is cooperating with the California AG. The fraud, undoubtedly, goes all the way to the top. There is no way that the CEO and other executives did not know about the fraud. They are so lucky that there are no criminal charges--yet. The only thing saving COCO is John C. Hueston and his legal team.

by Camden Kid
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Post ID: @2rZq+uH9TJWZ

Only company who would buy Wyotech is UTI. CCI Campuses in SF, Hayward and San Jose were sold off, only thing left are Heald campuses. Not sure how that really helps CCI. The CA AG can't hold CCI on a tight leash because they haven't been convicted of anything, and they are cooperating, in fact asking for an earlier trial date. All the students that said on this blog that they were wronged and were encouraged to send their info to the AG have done nothing but bog down the AG as they weed through what has actual merit and what doesn't. I'm sure that there were a lot of victims of their own fault. The 800K latinos??? No way the campuses could handle an influx of whomever out of that 800k could qualify. Free CC in CA? A dream, the state is basically bankrupt, and the AG is planning on running for governor...Hmmmmmm...Shah Capital??? Ever think that they may be trying to devalue the stock and then come to the rescue as they buy up dumped stock for cheap and make a few million??

by Anonymous6779
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Post ID: @1Lzk+uH9TJWZ

The only one of these suggestions that is likely to go somewhere is purchasing back 10% of the stock along with possibly doing a 10 to 1 or 20 to 1 reverse stock split to get the stock price up.

by Anonymous6712
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Post ID: @uzz+uH9TJWZ

Can the AG be alerted of their plan to lure more victims

Especially the intended target group predators is a mild word Camden kid please help

by Anonymous6710
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Post ID: @g6K+uH9TJWZ

"as soon as Corinthian is cleared from the Financial Responsibility Composite Score, the company repurchase 10% of the outstanding shares over the course of calendar year 2014."

The problem is that Corinthian will not likely receive a 1.5 or above.

by Anonymous6709
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Post ID: @IvJ+uH9TJWZ

San Francisco City College could go under, which would help Corinthian Colleges in California. I wish the CA AG did have Corinthian Colleges on a tight leash, but COCO has a very strong "crisis management team."

by Camden Kid
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Post ID: @ww3+uH9TJWZ

  1. Wyotech (aka Wyocrap) won't find a buyer.

  2. Forget the enroll 800K Latinos in California. The California Attorney General is all over CCI.

by Anonymous6702
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Post ID: @vcj+uH9TJWZ

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