The plan is to become a marketing and FA services company for other schools. They will ditch CCI and re brand Socle and stay in business performing marketing and FA work. They will let go everyone that works at the campuses and keep about 35% of CSC people. This IS the plan.
5 replies (most recent on top)
38341 : You are correct. We tried to add a Socle service contract to the sale negotiations and the potential buyers balked. They are NOT going to have CCi involved in their marketing or financial aid. I'm not sure why that surprised the execs. No new owner is going to start out on the bad side of ED.
BS, though it was probably a thought at some time. A re brand is not a change of ownership. You change anything you want in the business but will not change the legal and monetary responsibilities, unless they go BK. Which means there will be no cash to do such a thing.
Also, fact is CCI doesn't have sole authority on sale and it's conditions, to try some sort of shady sales and agreement.
The clueless coming up with nice ideas, but have absolutely no understand of what they are talking about. If your just passing on what you heard, then your being BS'd, it's the CCI way.
So are you saying the prospective buyers are losing interest? Maybe they are starting to see the writing on the wall.
What about shareholders? Are they going to do a BK?
No, that used to be the plan, until one of the potential buyers started asking questions about just purchasing what they needed, instead of contracting. Reality is that there is no money and Socle is no safer than the rest of us, or even marketable anymore.