Who wants to bet that CCi doesn't come through with making the 500K escrow payment this Thursday and loses Title 4 funding??? Not to be a downer, but sadly I am not holding my breath on this one. Is the end closer than we expect? Time will tell I guess...
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We will see.
"my VP told us." Well no VP would ever suggest anything that's not true.
I also heard it wasn't heals but amended to include others. Of course I will be called a troll but I heard what I heard. ECMC. If I'm wrong, I'm wrong but my VP told us.
CCI is being purchased by a company which deals in debt. They are interested in the education sector and things are done. Give it a few weeks and we will be back on track. New owner means new money. All the executives will be fired and new talent brought in. Cheers!
Jack will put it on his AmeEx
940- Correct. CCi needs the lenders to agree by Thursday, plus $250k the next day. What's crazy is that $250k is 'only' about $2,500 per campus. I know the money is tight and all, but $2,500 per campus? That's a lot of toner.
The problem is not the 500k or 250k the LENDERS need. To sign agreement. Union Bank, Bank of America US Bank National etc. I guess if cci has written letters of intent and lenders think they will get their money they will sign. Because escrow account is not to pay them but to find student refunds.
You are a little off on the facts: "Corinthian will thereafter deposit $250,000 bi-weekly to the Escrow Account starting on September 26, 2014."
What do you think the furlough was for. CCI will make it. They are like a cockroach, hard to kill.
I believe that there has been an admendment to the agreement that allows CCi to put the money into escrow a couple of thousand a week until it gets up to 500K. Others here can verify. Regardless, THE END IS NEAR!!!!!!!!