Thread regarding Corinthian Colleges Inc. layoffs

Yes, the creditors knew that there were problems long before the June 19, 2014 announcement, but they let CCi off the hook, and this is not the last time that will be necessary: "SANTA ANA, Calif., May 12, 2014 (GLOBE NEWSWIRE) -- Corinthian Colleges, Inc. (COCO) reported today that it had reached agreement with the lenders in its syndicated credit facility to amend the facility and to waive an event of default. The default had occurred as a result of the deferred tax asset valuation allowance the Company recorded during the quarter ended March 31, 2014." http://www.thelayoff.com/corinthian-colleges/post/5727588567744512 And that was right after the May 10, 2014 "cockroaches, Spam and Twinkies versus CCi" message. "All these claims that CCi will remain lack one major issue: Unlike cockroaches, Spam and Twinkies, CCi needs cash. With revenues going down faster than expenses are being cut, and now that CCi has "breached the covenants" of their debt, where is the cash going to come from? I sort of laugh at the idea that CCi is going to sell Genesis loans to some buyer." http://www.thelayoff.com/corinthian-colleges/post/5471768940642304