You have NO future at CCI. CCI is dead, allowed to die a slow and agonizing death. FORCED pay cuts and "voluntary" time off allow CCI to save millions in unemployment insurance as well as salary. The next thing to go will be health insurance, after that, the RIFS will come like wildfire. Contrary to what many of you are stupidly hoping for, there is no buyers for any of the CCI brands. And, contrary to what many of you are stupidly hoping for, no new buyer is going to keep you in the event of a sale. In the event of a sale (looking less and less likely at this point), the new owner will be purchasing a school with next to no student population and tons of legal and regulatory problems to sort out. This is the perfect situation to cut all the employees from the old problem (CCI) and insert experienced employees from their own company. If you don't believe it is possible, simply look at Chase Manhattan when they bought Bear Sterns and Barclays when they bought Lehman Bros. The reason why they were able to fire EVERYONE from these distressed companies is the same reason a buyer for CCI schools can, and will: They already have an infrastructure to absorb the new company. They will simply insert their own people to build it THEIR way, without the un-wanted hassle of former employees that helped cause CCI to go under in the first place. Why anyone is worrying is a real laugh, there isn't anything to even worry about. CCI is done, and so is your time there. Let it go, it is gone.
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OMG!!! Whoever wrote this you are right! I am from one of the Teach Out schools and we were told that we have a buyer but our school will still be closed and then completely closed for about three months, only for buyer to re-open under new name and new staff. So, some will be called back to work maybe but reputation of worker must be at an all time high standard. They do not want riff rats. So, I'm still moving on, I'm done with education!!!
Why would anyone buy most of CCI's brands? If they wait it out, they can just pick up the students that CCI brands lose. No real value other than students. Accreditation may hold some value, but the looming legal problems probably make this a non-starter.
The point the original poster is making, and making validly, is that there is no incentive or business reason to take on more payroll by keeping on CCI leftovers. The examples they gave to support the argument are pretty hard to refute. No school is going to pay today what they can buy smaller and cheaper in a few months. Buy a smaller student base=easily absorbed.
Universal Technical Institute, Inc., is a nationwide provider of technical education training for students seeking careers as professional automotive, diesel, collision repair, motorcycle and marine technicians. Full-time student enrollment at the end of 2012 was 15,200 compared with 17,300 at the close of 2011.
How many students is WYOtech going to have in 2 months? Think UTI could absorb the few thousand given that they already have the capacity? Want another example?
http://www.azcentral.com/arizonarepublic/business/articles/2013/02/01/20130201uti-cites-declining-enrollment-drop-q-revenue.html
Oh my god...I shutter at the thought of any of these CCI students doing massage therapy or medical assisting. What a joke.
Oh my god...I shutter at the thought of any of these CCI students doing massage therapy or medical assisting. What a joke.
Oh my god...I shutter at the thought of any of these CCI students doing massage therapy or medical assisting. What a joke.
Kaplan University currently has roughly 45,000 students, down from an all-time high of 112,000. Assuming Kaplan buys half of the remaining students that is 7,000 which is only a 15.5% increase in student population, EASILY serviceable by current Kaplan staff. Want another example?
http://www.pressherald.com/2013/08/08/kaplan-poses-challenges-for-parent-company_2013-08-08/
http://www.kaplanuniversity.edu/about/annual-report.aspx
UOP doesn't offer Massage Therapy, or Medical Assisting, or ... Each OPEID has to be tracked separately, and on and on it goes. The only way for UOP to absorb these students is to let CCi fail and have the students enroll with UOP.
Considering the mass student exodus, yes. More than likely they will just transfer students into their program. Although, at this rate and compounding problems, thinking operations will cease. Basically looks like CCI must have fought an orderly shutdown, but with drastically less revenue coming in, it's what is happening anyway. Anyone thinking they will get Severance and/or retention should think twice about staying on for that reason, as I doubt those will ever get paid. One thing to offer it, another to have funds to pay it.
The logic is not that hard oo understand. Let us suppose at the time of a purchase, CCI has 35,000 students remaining, of which, 25,000 are online. Of these students remaining, it is already known that about 60% of them will soon drop given the historical record of CCI students. This means roughly 14,000 students for a new school to absorb for a meaningful time. Considering UOP alone is over 300,000 students SMALLER than their already proven capacity, they could EASILY absorb these students. UOP caters to the exact same demographic as CCI. UOP is not interested, but they do have more than ample capacity. Want another example?
Thanks, non employee.
"They already have an infrastructure to absorb the new company." Does such entity even exist? I highly doubt it.