Thread regarding Corinthian Colleges Inc. layoffs

If the only issue was producing a few records, CCi would have plenty of cash. This company went from over $200M in cash down to $28M in cash. Essentially no operating income, and massive losses for many quarters. Also they have "breached the covenants" of their debt, but the breach was waived by the creditors. Furthermore there are claims of falsification of records. Then there are the AG claims, Consumer Financial Protection Bureau, and on and on it goes. That's not to mention the student population is down from around 114,000 to closer to 75,000, and likely much lower today. Those in the investment community don't value this company much. At one time CCi was worth about $3.4B, yes Billion, not million, BILLION. Today it about 34 million, or about a penny on the dollar from the glory days. GARBAGE! Don't let a few welfare mothers fool you into thinking this is a good school; it's still garbage.