http://www.bloomberg.com/news/2014-06-26/u-s-senators-ask-corinthian-to-stop-enrolling-students.html
8 replies (most recent on top)
Certainly ED does not want to maximize losses.
It is hard to tell where CCI ends and the colleges begin. Is the issue mainly with Everest? If so, CCi should do the right think and sell the other college brands right away. At least they could go on. Otherwise, are they just trying to bring everyone down? It would be nice to see some criminal investigations and jail time, not just fines that mean nothing to multimillionaires.
I think "minimizing losses" is mostly code for controlling the political spin. Unfortunately, with the reputation that for-profits have in the public's mind right now, the best political move for this administration is to make an example of CCi. Perhaps even to the point of criminally charging a few execs. That looks strong in an election year and would appeal to both democrats and the tea party types. A good portion of the latter do not like it that CCi gets most of its profits from taxpayer money.
Oh, but when you have 12 senators writing the secretary a letter, this should not be ignored, especially in the context of the situation. ED wants to minimize losses, but what action by ED minimizes total losses, on a net present value basis?
That does not make feel better just reading your post and the link gave us. Sorry for my spelling dam keys. laugh 15168 do thank you for that update as well
Just because a bunch of senators sign a letter addressed to the DOE, doesn't make it happen. These things happen all the time, everyone knows those Senators are out to get for-profit ed. This doesn't change anything. We are still in in a "wait and see" pattern here.
There asking Education Department not cci. So the education department still doing investigating. Then at that time make that descion. Did not cci direct. Thanks for adding you to cents
"Kent Jenkins, a spokesman, said the company doesn’t have an immediate comment on the letter."