Let's have a count down because they have to wrap things up by December.
18 replies (most recent on top)
Who is ECMC? What do the letters stand for?
999 just wait and you'll see. Apparently they see something you don't.
Why would Ecmc purchase Cci's bad debt at bargain prices and then turn around and buy the schools? Does that make any sense. Please explain why they would do this.
Anonymous42936: You are correct as I have been saying the same thing. Too bad you will be slammed for posting it. As for me, I am waiting for the ink on paper so I can have the last laugh at the expense of the naysayers.
It does not have to be completed by December -- read the MOU. The communication has been that the sale should be completed by mid to late November. In addition, the potential buyer will not be laying off in mass. The potential buyer does not have the employee resources to backfill all of the positions; nor do they have the understanding of how to operate. This is a win/win for all involved. That does not mean that some will be at-risk. However, this will not be the same type of transaction as seen in a competitive merger.
Lol, Debbis thinks she's smart with her reply. Don't you have other boards to troll or plagiarize? Here's an idea - have a drink, and then drive.
Really, what is the motivation for people to continue to go to a work for a federally recognized predatory lender? And what REALLY is the motivation of being afraid to not be working for a federally recognized predatory lender? As long as there are organizations like CCI, there is going to be responsible people going after them. Deal with it.
Really, what is the motivation of the Debbie Downer's that post here? Like we need someone else to tell us things are bad and stop dreaming. Keep your advice to yourself, and your anger bottled up!
Nope..and the buyer can't save it while keeping the employees who were responsible for the problem. Sorry folks, management was not the only reason the ship sunk...PLENTY of enrollment reps and student finance chipped in too. Of course, any buyer would also have to deal with all the litigation CCI is dealing with. Sorry dreamers, that doesn't go away in a sale. MASSIVE layoffs are coming.
The buyer would need to have a great deal of experience. An inexperienced buyer cannot take an operation that's been losing hundreds of millions of dollars and suddenly save it.
Yeah, because CCI is skilled at running schools and FA processing, those employees are so irreplaceable.
Yeah, ECMC is skilled at running schools and FA processing that they are going to fire everyone right away
Expect the worst, but hope for the best. That way you keep all your bases covered.
The buyer, whoever it is, does not have to keep any CCi employee that will now be working for them. There is never a guarantee written into Sales Agreement to retain employees. PLEASE get over the notion that a new buyer will want to keep your job.
Read the agreement it stipulates the dates. Massive layoffs are not coming.
New buyer= MASSIVE layoffs....still find another job
It's my understanding that CCI has until the end of the year to wrap shit up. Are you saying they only have through the end of November?
It has to be done before December and the announcement is coming next week.