#1 topic at conference call was student outcomes, which management uses as an excuse for losing money which includes $3M CEO salary. We are paying that much for student outcomes? OK, so we sacrificed shareholders financial interest for student outcomes. How much good did we do? We lost enrollment and nothing is said about those outcomes. Not a single good data point about job placement, starting salaries, graduation rates, etc. All we hear is that we are going to start another 100+ losing academic programs when the academic programs we already have are not working already.
What a JOKE! Does management think its shareholders are that DUMB? Apparently they do and they are!
I think this was a GREAT quarter for COCO. They only lost a bit of money. Yes, revenue, students enrolled, and earnings were all below expectations. BUT STUDENTS ARE STILL COMING IN!!!! If students are out there that think COCO is a good skool, there ALWAYS will be.
Also, think about this. Wash. Post took 6% position. They are affiliated with WEB. He is "juiced in" with the powers that be. His word carries a lot weight in the White House.
Leon Panetta is on the BOD? He is an "insider" that is also "juiced in".
With these developments, "for profit" will probably be allowed to continue. They'll have to clean things up at the edges. The education skam will be allowed to continue.
The largest problem is probably removed...I don't think the government will make drastic changes now.