TT Educational Services Inc. (ESI)
-NYSE
10.14 Down 4.17(29.14%)
12 replies (most recent on top)
So you judge the quality of the entire institution based on a two students? Why not find some success stories like CCi. You know, parade two success stories and ignore the failures.
I have to disagree. I know a couple of students that went to ITT and they have been let go and one demoted due to incompetency.
No matter how much pretesting is done they are still a "for-profit" and hustle people through just like high school and CCI
Apples and oranges is not quite right. More like silver versus clay.
25352, all for profits tend to trend downward during a good economy. All for profits are likely to see dips. And the trend is that for profits are closing and focusing on online schools. But, it's really impossible to say which for profit will fold next. ITT has surely upped their marketing since CCI started tanking. But, having been a former ITT employee, I can tell you that they only want the cream of cci's crop. They have pre-testing and most CCI students would not be eligible to enter ITT because they lack basic skill sets to handle the work load. And ITT's workload is significantly higher and harder. CCI's motto is 'asses in the classes.' ITT actually works to ensure the success of it's students. They are apples and oranges.
Anonymous25350- Yes, yes! There is nothing in the balance sheet or income statement that assures me that CCi will continue past January 1, 2015. When the annual report is released, we will see just how bad it is. That said, maybe you could look the other way, toward ITT. In other words, is ITT heading south like CCi? Possibly ITT is the next, after CCi, to go? Who knows, but CCi is in a booming industry, and not booming in a good way.
That's not significant to is at all. We are going to close or sell. It's irrelevant what stock trades for our competitors are. Our fate is sealed.
25341, you really don't get the reality, do you? In a normal situation, what's happening on the stock market is significant to is. But we are a fast sinking ship and it had nothing to do with the market or other for profit schools. What happens with ITT stock means nothing. We are a company barely holding on.
Anonymous25337- Often when one major player is down, it impacts the others. Also if we know why ITT is down, we can determine what, if any, impact the situation has on CCi.
Who cares about ITT?
Camden- Today the stock is down 30%! Beyond the fourth amendment, what else is there?
Old news (from last week).
"On July 30, 2014, ITT Educational Services, Inc. (the "Company") entered into a Fourth Amendment to Credit Agreement, Consent and Waiver (the "Fourth Amendment") with the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent. The Fourth Amendment provides for certain amendments to and waivers of certain covenant defaults under the Credit Agreement dated as of March 21, 2012, as amended by the First Amendment thereto dated as of March 31, 2014, the Second Amendment thereto dated as of May 29, 2014 and the Third Amendment to Credit Agreement, Consent and Waiver dated as of June 30, 2014 (the "Credit Agreement"), among the Company, the lenders from time to time party thereto, JPMorgan Chase Bank, N.A., as administrative agent, Bank of America, N.A., as syndication agent, and Wells Fargo, N.A., as documentation agent. Capitalized terms used in this Form 8-K and not defined herein have the meanings ascribed to such terms in the Credit Agreement."