Spend time with your family, read a good book, watch some TV. Take your mind off work because very few know what is going on. I was privy to some information on Friday that made me a bit upset and I know for a FACT that the sale isn't happening in 2 weeks. You see, I was always told 2 weeks, 2 weeks, 2 weeks and now it has become sometime in October. They are talking retention which indicates to me that we will not be a servicing company as I hoped for. In all honesty if I were you I would not be holding out any hope. I did, I really thought that we could sell our services to the buyer and that has not panned out.
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Everything posted goes against the content of the last internal email (at the beginning.) I
Don't want to give anything to trolls, so retread what it says and decide for yourself that this seems hard to believe.
I'm not sure that someone who goes by the moniker "Board Hijacker" should be taken seriously. Auto-correct or not, if he had been in "many" meetings, he would not continually post EDMC when he meant ECMC. That makes no sense. He's trying to pick up on our lingo, but it's foreign to him so he messes up.
I'm still trying to wrap my head around why ECMC would want us. It can't be to venture into running career colleges, since that has nothing to do with their current business. Also, the field is crowded with established players who are closing schools due to declining enrollments. So they don't want to run schools (unless they are very, very naive). I'm assuming they'll get us cheap. We've paid in the past to have companies take our under-performing schools, so that tells you they come with some liabilities. Assuming there's something to all the ECMC rumors on this board...why? Why would they want us?
Ecmc will still clean house. Your bloated paychecks are a thing of the past.
Sorry, if you had been at many meetings with a company, you would not get their name wrong. I call BS.
822, EDMC is broke like the rest of for profits that expanded way too fasts
ECMC is a collection servicer contracter by the ED. They were investigated by the Inspector general and found in violation early on. If i read the contract correctly, their contract runs out October of 2014. Its all on the internet through the department. Although, as long as the Obama administration is in charge, chances are good they will renew the contract. Regardless of bidding rules and policies.
I keep pigeons
"Seriously, stop reading this board." OKAY, YOU FIRST.
Anonymous36822: My mistake and Google autocorrect. It is ECMC not EDMC. Sorry for the confusion
I head EDMC was poking around CCI's Online school but I don't know what happened after I left the company. I had to pull some historical data for some reports that was given to EDMC. This would be early late July/early Aug I believe.
ecmc makes more sense...
what do you mean EDMC put in a bid? they put in a bid to purchase? Edmc was not created by the doe or entity with no schools. It has ground campuses and an online division. I believe you have information, but somewhere it's misunderstood. Anymore information that can be provided?
Got my companies mixed up and google Chrome auto corrected. ECMC is what I meant. Thank you for the catch.
EDMC wasn't created by the DOE.
Something is going to happen in October. Just not sure what or how it is playing out. Mid August was all gung ho on the belief that we would be a servicing entity for whomever purchased us. It seems we will still be a servicing for the buyer but not on the grand scale we imagined or the duration we hoped for. Things may change but I am not as optimistic as before. Call it a gut check, I am hoping for the best but preparing for the worse
EDMC was created by the department of education as an entity with no schools. As such there is no infrastructure in place for them to run the schools. That is where CCI is going to step in and provide that service. CCI doesn't own the schools, run the school, we just would make sure that everything was serviced from marketing to FA processing.
OP, are you saying something will happen in October or not at all.
There's been no leaks here. That furlough post happened after it was announced on campuses. Everyone else got an email 2 hours later.
Edmc is a college, isn't it? Not a service provider.
I have had many meetings with EDMC and they submitted their bid. I really don't care if you believe me because what can I do but come back to the board and say " I told you" after the fact. I know what I know. Why do you think the Layoff board was blocked? Because the truth is leaking out faster than the managers can explain it. Case in point was the furlough thread. Everything was true in that post, people didn't believe it, but it ended up to be true.
EDMC has nothing to do with Heald.
I don't think they were lies. I was involved from the start and this is the model they were going for. I just don't see EDMC backing away from a one year servicing contract for Heald. Even if they did agree to extend it not all departments are covered.
Sorry you believed the lies!