Thread regarding Corinthian Colleges Inc. layoffs

Desperation is a smelly, smelly cologne

I am genuinely laughing at some of you. "BUT..BUT what if they can sale Heald or Wyotech??? " Why would ANY company want to purchase a CCI school right now? Just for a second, take off your CCI glasses and see the situation for how the market sees it. A company whose schools are being cut off by the govt for regulatory and potentially criminal non-compliance. The schools are WORTHLESS. But let's just be totally unrealistic and say that they sell even both for half the market cap of all of CCI. That will bring in about $16 million. So, CCI has cash for two months, maybe. However, they also have lost all revenues these "valuable" assets created. So, in the event

of a miracle comparable in scope to the resurrection of Jesus and the parting of the Red Sea, you have cash to operate for MAYBE two months.

I don't generally like telling people that are about to be shit canned to grow up, but GROW UP. It's over, move on. You had AMPLE opportunities to leave, the writing was on the wall for years. You chose to stay, only yourself to blame.

by Anonymous13402
| 1087 views | | 24 replies (last ) | Reply
Post ID: @OP+weX5ZGT
Comment! It's anonymous!

24 replies (most recent on top)

I work at wyotech and the lack of training and the people they have got left all should be only allowed to teach self gratification. .....who the hell wants to buy that shit hole.

by Anonymous13461
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Post ID: @fJA+weX5ZGT

Well said. Those meatheads in Tampa could muck up a one car funeral.

by Anonymous13449
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Post ID: @TU8+weX5ZGT

I blame Florida! Those old azz inbred geriatrics have been draggin us down for years. Heck the state song is the sound of a raccoon sliding down the roof of a carport in a tralier park!

by Anonymous13446
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Post ID: @Yu1+weX5ZGT

HAhAHAHA......The Feds will come in and save the day!!!! They'll just change the management....HAHAHAHA!!!! Obama is doing this to CCI....HAHAHAHA!!!!

Keep the workforce and change the management....HAHAHAHA!!!!

Oh god I can't believe how WILLFULLY delusional some people are.

by Anonymous13433
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Post ID: @v9V+weX5ZGT

In a perfect world

by Anonymous13431
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Post ID: @ADc+weX5ZGT

DOE comes in and takes over! All the execs gone! Keep the work force and hand pick new leadership

by Anonymous13430
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Post ID: @We3+weX5ZGT

13424- What is the other option?

by Anonymous13426
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Post ID: @D61+weX5ZGT

Not easy to Fe Bk

by Anonymous13425
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Post ID: @r2j+weX5ZGT

I think there are sanctions on filing BK with a publicly trading company and one that has Title IV funding

by Anonymous13424
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Post ID: @1x7+weX5ZGT

Oh, and if someone like Gates or his pal Buffett want to pump cash into CCi, or buy CCi, then of course life goes on. Not going to happen.

by Anonymous13423
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Post ID: @j05+weX5ZGT

The industry does have cycles, but CCi is dead at this point. Management did not see the same cycles that you see. Others in the industry will survive, but it's BK for CCi.

by Anonymous13422
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Post ID: @vrZ+weX5ZGT

I'm not stupid I never bought stock I don't want the loss! I'm saying I know the industry and historically it's a wave depending on who's in office. Unfortunately we can wait any longer for Obama to stop screwing with business and people

by Anonymous13421
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Post ID: @DaR+weX5ZGT

I'm not stupid I never bought stock I don't want the loss! I'm saying I know the industry and historically it's a wave depending on who's in office. Unfortunately we can wait any longer for Obama to stop screwing with business and people

by Anonymous13420
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Post ID: @PLi+weX5ZGT

Go ahead and show us all this great wave theory to support your position.

by Anonymous13419
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Post ID: @Cqe+weX5ZGT

I've watched plenty of different companies go under. CCi doesn't have 12 months left. If you think otherwise, go buy the stock.

by Anonymous13416
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Post ID: @EGF+weX5ZGT

Champion? Not so much just am aware of the cycle, are you?

by Anonymous13415
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Post ID: @96D+weX5ZGT

Champion? Not so much just am aware of the cycle, are you?

by Anonymous13414
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Post ID: @hs4+weX5ZGT

Obviously another champion of CCi- Look over here at this one success story. Forget about all the schools that are long dead.

by Anonymous13412
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Post ID: @5bc+weX5ZGT

You are an idiot historically this is what happens to schools groups...look up NEC and see how that went...let's chat cuz you don't have a clue

by Anonymous13411
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Post ID: @75e+weX5ZGT

How much is $100M to $150M? Roughly 7% to 11% of my estimated annual revenues of $1,400M.

by Anonymous13409
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Post ID: @kWC+weX5ZGT

Also $16M is about 4 days worth of revenues, and revenues basically equal expenses, excluding the large non-cash tax charge. Of course the days revenue would change without Heald, but $16M is basically nothing. The subprime debt was to be worth $15M+. Alternatively $16M on $1,400M revenues is a little over 1%. This place is bleeding so fast that $16M won't fix anything. Also how far will $16M go toward the $367M in current liabilities? Again some of those liabilities would go with the sale, but it's still a major problem. It's going to take $100M minimum, and more like $150M. No way will anyone come up with that cash. Current major investors have what about $10M invested (each) in a company that has a market capitalization of roughly $30M. Who is going to lend/give/buy equity/whatever $100M to $150M to someone with a market capitalization of $30M? What's the plan to increase the value of the company? Even if ED provides cash on Monday, it's game over, but the death will be slightly slower. Oh, and I don't see any plan to turn the company around. So the $100M to $150M would simply be to paper over the current problem. CCi would immediately start going down from there, until we are back to the same conditions we see today.

by Anonymous13408
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Post ID: @mCr+weX5ZGT

13403....indeed. The game is over. The whole company is only "worth" slightly more than $30 million. There is no way out, the pit has been dug.

by Anonymous13407
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Post ID: @jEE+weX5ZGT

Lucky for CCi management that so few employees know how to read, and understand, financial statements.

by Anonymous13405
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Post ID: @lG6+weX5ZGT

Sell a school for $16M when you have $200M of goodwill on the books? You'd be taking a charge of about $180M. NOT GOING TO HAPPEN. That's about 18% of your total assets. What would happen to CCi's Department of Ed Financial Responsibility score if it took a $180M charge? Comical.

by Anonymous13403
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Post ID: @d2W+weX5ZGT

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