Thread regarding Education Management Corporation layoffs

Not to get into a political debate but if the Republicans were in control, it would be business as usual. Ironic sine they live to complain about taxes and government fraud. Former Republican Senator Olympia Snow owned millions of dollars in EDMC stock while she was still in Congress.

" I think most for-profit schools cannot survive if the wrong party gets elected next time." Wrong Party? You mean the Democrats who brought fourth the billion dollar lawsuits to get the Government money back from shady schools grifting off the student loan system?

If you think EDMC is necessarily solvent over the long run, you are either misinformed, dishonest, or deluded. There are several existential and semi-existential threats out there. To wit, (1) an adverse outcome of the whistleblower lawsuit. This would be game over, of course, (2) the new gainful employment rules cause further erosion of profits, (3) they fail to come to an agreement on their massive debt without squaring away accreditation issues involved with an ownership transfer, (4) individual schools begin to have accreditation problems due to financial instability, (5) the doe starts slow-rolling payments like they did with coco or the va decides to shut edmc off due to generally being broke. Frankly I think most for-profit schools cannot survive if the wrong party gets elected next time. I don't know what will happen but I would not bet the mortgage on long-term solvency.

Your mom is a astronaut

"Look at Notre Dame" Yes, lets see, as a non-profit their graduates have gone on to be Senator, Governess, Journalists and Astronauts. EDMC can't even get a culinary grad a full time gig on the Food Network. Non-profit and For-profit are not the same, neither is the success of their students.

"Every single college is for-profit." Really? Sounds like YOU are the one living in the land of Unicorns and Rainbows. Non-profit schools actually have something For-profits never have...high standards. Most people get rejected from the good ones because they are hard to get into. For-Profits take anyone and everyone who qualifies for a loan. And unlike For-Profits, they dont just throw up another campus so they can accept every passable applicant. Further more they dont have mega sized recruiting department which is what got EDMC into trouble in the first place. Finally, the money non-profits make goes back into the schools. The money For-Profits make go into shareholders pockets, and very, very highly paid upper management and CEOs. Close to 50% of what EDMC makes is pure profit leaving the school making people rich.

Name the last company that size to fail? ENRON. 19,000 employees, 100.8 billion reported income. But truth be told, EDMCs end will not be so spectacular. It will be cut up into bits and pieces sold off and die a slow death by a thousand cuts.

We are providing your income, without us you will go out of business! 90/10 rule or should I say loophole in the law. Once it gets fixed good luck at getting 10% of the students to walk in the door and pay cash in order for you to receive the 90 % of federal money to operate and keep the doors open. That's the real truth.

"Too big to fail mentality" is what COCO is working on!

110 schools. 120,000 students. 23,000 employees. Name me the last company of that size to abruptly shut their doors. It doesn't happen. Remember the infamous "too big to fail" line? EDMC is no different. The people who fear this are irrational, being mislead by hostile ex-employees. And that's a shame. Moreover, the people who get on here and call EDMC criminal for being a for-profit school, live in a land of rainbows and unicorns. Every single college is for-profit. Some just disguise themselves as nonprofit. If you need an example, look at Notre Dame and MASSIVE tv deal that they signed to broadcast all of their football games nationally. Every college is a business. EDMC clearly isn't very good at running theirs, but the reality is that they're not going to be closing down any time soon. Hate to break it to all of you dopes!

I don't think upper management (or whoever has the power) looks at your job performance when deciding who to lay off. I work in a department where everyone's production numbers and quality scores are sent to the whole team in a daily basis and over the past few layoff cycles I have seen people with great numbers and high quality get let go while clowns who barely understand their job duties remain. I would love some insight into the criteria that determines which employees get the ax. Continue to do your job well, but don't think that will save you.

Hey, Truth (Admissions), you are in deep denial. You sound like one of those guys in upper management at ENRON before it went down. "Just keep working harder people, nothing to look at". " Pay no attention the the lay-ffs, just trimming the fat". "its all rumors, we are an AAA rated company". Ha, Ha, your day is coming, better update that resume. News Flash, EDMC is NOT going to be a positive talking point. the longer you stay there, the worse it is going to look. Hope you like saying "Wwelcome to Wall-Mart".

"There was a time that I feared losing my job, mainly because of mindless asses like the majority of people who post on here" So what dose that make you OP?

Anonymous27498, I agree w/ you completely. I'd like to see what things look like in "Truth's" world.

My post was Anonymous27434 and it was in response to "by Truth (Admissions), Wednesday 08/13/14 03:38:01 UTC

Here is a thought...." (the original post).

@ Truth. You don’t have good reading comprehension do you. I am on the employee side with this. When I said working harder and STFU it was in the voice of EDMC. Re-read the post. Anyway, I was responding to the original OP post which now contradicts itself. First you say “how about you show up to work everyday wearing your big-boy pants, put your head down and work harder,” then you say “no longer the day where keeping your head down and working your hardest guarantees your safety”. What side are you on?

Thanks Ed!!!

arbeit macht frei

by Truth (Admissions)

Your post is, putting it nicely, offensive. Many, if not most of the people checking this discussion board are people who have been with this company for a very long time. People who have been wearing their "big-boy pants" and hoping for the best for years and years. Associate Deans who have worked for the company for as long as you've probably been out of diapers are being tapped on the shoulder and escorted off the premises after decades of service and love for their students. Young professionals who thought they had found a great company to grow with are realizing that they've made a terrible mistake and are scrambling for a solution.

We all realize that big companies trim the fat; hire and fire. Thanks for the news flash. But here's an eye opener for you my friend. Today is no longer the day where keeping your head down and working your hardest guarantees your safety. Nor the day that years and years of dedication and seniority means that they care. Just like, I'd assume your bachelor's or master's degree guarantees your dream job. Wake up. People are scared. People want to have some sort of insight as to what their future entails. People have children and mortgages and elderly parents that they have to take care of; not to mention THEIR college debt breathing down their necks.

Your comment was pompous, rude and quite frankly sounds like it came from a spoiled, just out of college, inexperienced kid.

Not to mention a complete contradiction. Why did YOU visit this site? It seems to me like you just wanted to stir things up, which is exactly what you were complaining about from your high horse.

Have a nice Wednesday. I certainly hope you set enough appointments today!

Trim the fat? EDMC is like an inverted pyramid. There are so many people at the top telling one person at the bottom what to do, it's ridiculous. When did they ever have mass layoff of upper management? That is where the fat is. You could probably hire 3 teachers for the salary of one Dean. Imagine if you eliminate that position chain wide. You would loose 150 non essential people, but would be able to hire 450 teachers.

OP = HR Thanks for the marching orders, excepts some of us here dont work for EDMC. We are here to sniff out the details of a sinking ship.

Here is another thought. You sound just like an EDMC corporate manager or reputation defense firm posting about how the little guy is to blame for the poor decision made by a billion dollar corporation. If the little guy just worked harder and STFU all problems would be solved.

What color is the sky in your world? In corporate America, everyone is dispensable. EDMC primary directive is to it's shareholder and quarterly profits not education. Want a real example? Google the Art Instructor Mike Tracy who was fired because he didn't want he student to be forced to buy unnecessary books for his class that he didn't use. Ai required him to push a book sale (of his choice) and instead of just kissing up he called them out on it. They fired him for being insubordinate. He was loved by the students and had been there for over 12 years!

If anyone should put their nose to the grindstone it should be the top management, deans, directors, and CEOs. Except, they all keep jumping ship first chance they get.

http://blogs.ocweekly.com/navelgazing/2012/08/art_institute_of_orange_county_mike_tracy.php