Everyone else please feel free to read, but responses from (real) Socle employees only please. We've been immune to many of the cutbacks that seem to have afflicted others (furloughs, toner, coffee, etc) and we're constantly told that we're legally unrelated to CCi and that the company's troubles do not affect us. At the same time we know that we are technically a "fully owned and operated subsidiary" of CCI, and that the company has massive financial issues even if we somehow aren't affected by the CFPB, DOE and AG investigations/lawsuits. I'm at a loss to try to imagine a scenario playing out that would have Socle survive. The company is spending tons on us, with weekly new hires and Socle staff flying around the country constantly. The "Fourth Floor" obviously think that pumping money into Socle right now is a good idea. Why? How can we survive this? I want to have hope, since my job search isn't going well so far, but I just don't see us coming out of this unscathed.
12 replies (most recent on top)
Cci continues to scam..why am I not surprised..yawn
Typo does not raise enough income from clients to support itself.
There is no Socle IT there is only IT that supports Socle. And socle doesnt directly receive tile iv funds a, howeber it does depend on Cci for funding its operation and expenses. Where does CCI get its money from? The majority of Cci's money comes from title iv funds. Socle does NOT raise enough income from vlienta to support itself period.
Anonymous38076 Oh, wow! Are you the angry li'l redneck who used to show up here? You've got the same manner and spiel, so I'm guessing you are. Are you going to start cursing and calling us "biters" soon? I've missed you , crazy li'l cracker, glad to have you back!
38076 - So Fitzgerald isn't approving the "retention" bonuses for managers? Good, he'd better not considering the rest of us have taken pay cuts and furloughs. That's hardly an indication that he's a hard-ass. Stopping bonuses is the very least he should be doing as overseer. It's not as though the managers can jump ship. Nobody wants to hire an ex-CCi manager. At least not in the proprietary school industry. They're pariahs.
Anonymous38076 - "Socle" doesn't own schools or receive T4 funds so it can't be fleecing taxpayers?!? Spun off? WTF are you thinking? Good grief, what a delusional nutcase you are. We are just one department of CCi, you idiot. I know our slovenly baboon managers keep mooing that separate company nonsense, but I had no idea anyone was so stupid as to believe it!
Anonymous38043: Your rumor is so wrong. I like how you think Socle "fleeces taxpayers" since Socle doesn't own schools, doesn't receive any DoE funds. Same thing with Quickstart, it will be spun off like Socle. What proprietary software? You mean the CenterPoint software we developed? There isn't any proprietary software except that. Why don't you call up some IT execs and ask how hard it is to get things done because Fitzgerald scrutnizes all the invoices for service. You can even call the CIO and ask why the retention packages hasn't been approved by Fitzgerald. Your rumors suck.
From the rumors I've heard, here are the plans: a group of CCi execs "purchase" Socle for a few bucks, taking a lot of CCi's proprietary software with it. The group also purchases QuickStart Intelligence for cheap in some rumors. Once purchased, Socle becomes the new branding for a full-service proprietary education consulting company (I imagine presentations like "How to Fleece Taxpayers in Three Easy Steps"). The execs, still in charge of CCi, sell the more valuable properties (such as Heald) at way below market price, with the provision that the new owners must use Socle services for a set number of years. Therefore they, in effect, transfer what would have been part of the purchase price into their greedy little hands. I've heard that was the same trick that Global pulled, that it was started by the owner of several schools that CCi wanted to buy so an agreement was made that CCi had to use Global services for 15 years or something. We started SFS immediately when the contract was up. Even though SFS/Socle hasn't been that great, I think we can all agree it was 100% better than Global FAS. That's because Global didn't have to provide good service, since we had no choice but to use them. Jack & Co remember that deal and are incorporating it into their own sleazy plan. They really expect to make out like bandits while the rest of us are screwed. I've heard other rumors that Fitzgerald does nothing and has no clue what's going on, so they may get away with it.
Socle IT, I don't understand what you're saying about QuickStart Intelligence. They are owned and operated by us, are you saying you think they'll be sold? http://www.quickstart.com/company/about.aspx
Socle IT - yes, I realize that IT were furloughed, but the rest of us (at least as far as I've seen) haven't been. Those over $50K have the temporary 10% cut.
I am exclusive to Socle and I haven't been immune to anything. I am out 10% like others, furloughed like others. Socle is going to be sold and completely be done with CCI just like Quickstart.
The idea is that CCi can go away but we can survive based upon our external clients. That makes no sense since there are so few clients and most are just call center jobs. I heard from someone who should know that we're not making ANY money from clients. Apparently, we've been so desperate to build a client base we've been offering our services at around our cost. The belief is that if we have a "base" it will encourage other colleges to sign up and then we can raise our prices. Sounds questionable to me. We're certainly not near a self-sufficient state at this point.