Thread regarding Corinthian Colleges Inc. layoffs

Anonymous38289: we tried to include a Socle service contract (for marketing and financial aid services) in the sales negotiations and the potential buyers balked. So the rumor outlined here WAS the plan, and the execs might still be dumb enough to believe they can still pull it off, but it's not going to happen. Potential buyers won't have CCi of all companies involved in its marketing and financial aid. That would put them squarely in ED's sights. Not to mention that we've had many employees leave and go to other companies, bringing their horror stories of CCi management incompetence with them. Everyone in the industry knows our "leaders" are total losers.

Be mindful that Fitzgerald is only monitoring the activities outlined in the memorandum. Nothing more.

Wow, it all sounds so sinister. But you know what? It DOES explain a lot and it makes perfect sense. There have been a few things posted which seemed really odd to me, (1) Socle having lots of supplies and no furlough, (2) all of the talk from Socle reps a couple of months ago about how they knew they weren't going down with the ship, and (3) all of the talk about Socle and CSC managers being so cheerful throughout this. What weasels if it's true!

The part about Global FAS is definitely true, but it was 20 years. We were ready with SFS to take over as soon as that time period was over. I know how much we paid Global for doing very, very little and can assure you they made out like bandits.

It will be interesting to see what happens. Socle is part of CCi so if they declare bankruptcy I think Socle goes down too, with everything sold off to satisfy creditors. There have been previous rumors posted here that sale plans weren't approved because of something to do with them including processing services. If this rumor is true, that would explain what that was all about and would indicate that ED (and Fitzgerald) are onto the plan and not happy about it. It does seem like CCi type thinking and I wouldn't be at all surprised if it's true. Management have already said that we will continue in a different form after all of this is over. Sounds like most of us will be SOOL and the 4th floor honchos expect to be in charge of a brand new cash cow. Again, sounds like their thinking and I hope it doesn't happen, even if it would mean that I'd continue on. I've about had it with CCi and its toxic culture. With our current financial situation, my money is on bankruptcy.

It does look like this is the post they desperately don't want people reading, but of course they've ended up tipping their hat and getting our attention. Wow, I wonder if it's actually true? It DOES explain a lot! The money being pumped into Socle and the weird Socle employee comments these last three months. So help me, Fitzgerald had better not let something like this happen or I will become his biggest nightmare. I will make sure EVERY news agency knows that the plan was common knowledge! Grrrr!