I don't think they are in control at all, Im pretty sure the lenders are forcing a lot of stuff to happen. If you were eating over a billion bucks or waiting for 10 years extra to maybe get paid back or maybe not, you would be P.O.
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Well when it was $16.00 per share in the last year and now its down to $1.47 per share, that has major failure tag attached to it. Im no expert but if it goes to 99 cents then I guess that would be considered a penny stock..lol for real
well, Johnson is bowing out and they brought him in to turn the company around last year. This was buried here http://boardvote.com/symbol/EDMC/communique/717825 under SEC filings
"Item 5.02 - Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On July 21, 2014, William R. Johnson informed Education Management Corporation (the “Company”) that, due to other commitments, he does not intend to stand for re-election to the Company’s Board of Directors at the Company’s 2014 Annual Meeting of Shareholders. Mr. Johnson will continue to serve on the Board until the Annual Meeting."
Someone mentioned stock in a previous post. A stock losing value doesn't necessarily mean a company is losing value - Amazon, Apple, I'd buy that stock even if it dropped because the company had potential. And other online for profits are doing fine right now - Take a look at DeVry. The problem with EDMC is that aside from the tanking stock price, there is nothing I can see to pin any hopes on as far as future growth. They ran the business poorly, banked on profit/greed, always pushing for unreal/exponential increases student enrollment and profit and alternatively not providing educational value. They also had all their eggs in federal student loans (that couldn't be paid back) and this fact was conveniently ignored in the name of obscene profits at all costs. IMO, and many other analysts, there is little hope of seeing an increase in stock price anytime soon and they are paying the price now for their poor brand. If EDMC does survive somehow, I think it will be a slow and painful recovery and the stock will take a very long time to increase in value. It's quite possible we will be the next Corinthian, there are unsealed lawsuits pending, VA could take action, so many unknowns. But again, losing Johnson was something. Did anyone here read about him? He turned two disasterous companies in bankruptcy around and they banked on him to do his magic here.