https://ca.finance.yahoo.com/news/profit-education-company-corinthian-colleges-sell-85-campuses-044637360.html
23 replies (most recent on top)
Elvis has left the building.......last one out please turn out the lights.......
Anonymous17994- Capital lease?
classroom computers are leased not owned
Yup and layoffs will start next week.
Jobs. ALL CCI Jobs gone at some point soon. They are dumping Canada as well. http://newsroom.cci.edu/releasedetail.cfm?ReleaseID=857808
Where does the leasehold improvements for the brand new Portland campus go?
"Page 13 of the 2013 annual report"
"We have fully complied with ED demands"
-Jackie M.
There is a reason they use SCHOOLS instead of COLLEGES.
$220M is about $2.2M in equipment per location on average. That's not much.
Guessing a new will take students and dump most of the dead wood (Everest and CCI) employees.
Page 13 of the 2013 annual report, "All but 4 of our facilities are leased. In addition, we lease our campus support center offices. Most of our leases have primary terms between 5 and 10 years with options to extend the lease, at our election."
You are right, I am sure about 10% of that is the computers and furniture.
Looks like they will not need much of Santa Anna. Plus, they can get rid of that "IT Guy"
PPE is far more than just the real estate.
http://finance.yahoo.com/q/bs?s=COCO
Look at the balance sheet under Property, Plant and Equipment. Those are your 85 schools little fella. Unless you don't know how to read a balance sheet...?
CCi leases almost every location.
They are simply selling the $220,000,000 of real estate it has on the books. Schools=Physical building, not brands.
Bet they are closing the worst Everest schools, and dumping the rest of the brand
GOOD information ExHeald. You always have good information. Thank you for posting.
Still
Is this now? Will there sill be workers?
More information. http://www.mercurynews.com/education/ci_26089128/corinthian-colleges-sell-85-u-s-campuses-and?source=rss
Change "to sell" to "try to sell."
Nice. Which schools are closing.....Everest ?