There IS NO CREDIT! THE ONLY MONEY COMING IN IS FROM STUDENT TUITION. And as we all know, student numbers have dropped considerably. And then there's the shitty retention rate, which employees know to be true, due to 'sub prime students.' Plus, three states are not enrolling and VA money is being rescinded all over the country. CCI has had more than a 10% paycut. And it's going to get uglier. Especially if they continue to pay for high paid managers who have nobody or nothing to manage.
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CCi never had $3.5B in cash! That's over 2 years' revenue near the peak.
cci had 3.5 Billion at one point... 200 Million is just a penny to them to burn through.
This company is trailer trash.
If you paid your entier life in cash I'm sure you would be tracking your money a little better then haveing to live off of credit and be in a better finacial state.
They need to RIF out the Pres., VP's, and all the people in corporate who manage to do nothing whatsoever useful except make up reasons to fire us. You need to call your students or else. Bunch of morons!
And the government's refund policy looks like they'll take the $ from the top of the following FA funding, which is very bad for us.
I'm sorry I wasn't clear--CCi burned through $200M in cash, plus $100M in credit. In other words, first CCi had plenty of cash, and then they tapped out their line of credit. Today they have nothing.
If they have such good credit, why didn't students get textbooks at ECPO until week 3 (and in some cases later)? In Owens email he stated its because they are having trouble with vendors. If you have credit, you pay vendors. And vendors such as Pearson will often extend credit, unless you don't pay your bills. Use the facts you see and think about them. Don't use the hopes and dreams that we'll all be ok. It's not the reality.
015, they have NO credit. It is public knowledge they've posted in the SEC and 8K filings. Read them. It's good stuff. Even Jack maintains there's NO credit. But, believe whatever you want. Puppies and roses and p-cards for all!
"additional sources of liquidity" is about finding cash, but obtaining cash may include credit, selling stock, selling assets, begging for donations, checking the couch cushions, ...
CCI has stated via SEC filings that it has exhauted current credit sources, is technically in default and is seeking "additional sources of liquidity" (credit), and that such new sources are necessary to maintian operations. Translation: The checking account is about empty, the credit cards are past due and maxed out, the income is shrinking fast and the only way to keep goin is to convince someone else to give us a loan. Can you say "UUUUUUUGLY!!"
After burning through $200M in cash, recently CCi has been living on credit.
Idiot. I say it's time to layoff these high paid managers. What the heck are they doing anyway?
Fire admissions and education