Shareholders are not alone in seeking remedies should any wrongdoing be found.
Does anyone know of any formal complaints being filed by former students?
I received my BS from ITT. It was a quality education and a good experience. Unfortunately the events that have transpired this week are affecting the credibility of my degree.
I realize that no charges have been filed against ESI but damage (at least in my mind) has already been caused.
**Also, with the mention of adjunct employees, I did not see any mention whether or not many of them currently have a full-time job outside of working for ITT. And, the ITT adjunct/part time position is a supplement to their income.**
Of course most adjuncts have other jobs. It is very difficult to provide for families with only 16 to 17 hours of work per week, and no health insurance.
**Do you mean by "outsource", that they attempted to hire outside of the country, or to hire other Americans?
Again, you talk of major work being outsourced. Can you please elaborate on the percentage of current jobs at ITT, which are being done from outside the United States?**
About 85% of the entire curriculum taught by ITT is developed by NIIT in New Delhi. This includes tests, exams, lab experiments and the entire book. Additionally, many of the management PowerPoint presentations and marketing PowerPoint presentations are developed by NIIT.
**I will wait judgement on you until you are able to answer the above questions. Something you seem to have already made, with those that run ITT. **
From some of your other posts, it is apparent that you are someone in the ITT organization who believes it proper for these executives to behave in the fashion they do. Your judgment on me makes no difference in the scheme of things at all. Eventually, everything will come out. Many things done by the senior executives are not right, but unfortunately legal. Many powerful people such as these guys, keep pushing the envelope until they cross the gray line separating wrong but legal to wrong and illegal.
This situation has already hurt many people, and a total failure of ITT will hurt many more. We can only hope for the best and that management's attitude to the stockholders outside the management click, ITT's graduates, its employees, and last but not least the American taxpayer improves.
Please notice that I can spell �judgment� correctly. I wonder if you might be one of the temporary faculty members from a temp agency?
According to filings it is a minimum of 3,000. Not sure if that includes part time employees or not.
Also, with the mention of adjunct employees, I did not see any mention whether or not many of them currently have a full-time job outside of working for ITT. And, the ITT adjunct/part time position is a supplement to their income.
Do you mean by "outsource", that they attempted to hire outside of the country, or to hire other Americans?
Again, you talk of major work being outsourced. Can you please elaborate on the percentage of current jobs at ITT which are being done from outside the United States?
I will wait judgement on you until you are able to answer the above questions. Something you seem to have already made, with those that run ITT.
I agree about the guilty until proven innocent sentiment.
I do believe the media has a large part to play in this though.
It is difficult to maintain innnocence until proven guilty though.. at least in the publics mind due to the fact that the media hypes up caees for the sake of entertainment value.
Not that there is anything wrong with this.... I think everyone loves a good juicy story.... myself included. We love to be entertained. But you have to take it for what it is.
For example look at the Scott Peterson trial.
The poor guy is on trial... his guilt is not proven... yet many in America have probaly already made up their minds about his guilt or innocence.
It's the media.
Now I am not suggesting that the media change their tactics. They do a great job of presenting the facts in an entertaining fashion (albeit sometimes in a different light). Its great and it helps sell commercial airtime. But you have to see it for what it is (facts with an entertaining twist) and extract the facts from it before making a desicion.
As for the govt. Well we are a govt for the people by the people. If you don't like something we have the privellage of writing our congressman or woman and voting on the issues every election. We also have the privillage of a free press (hence the media remarks I made earlier).
So to sum all of this up... yes I agree with you that in America I believe the mass sentiment is guilty until proven innocent (even though the law is inncocent until proven guilty). The govt cannot change this sentiment (would you really want them to try) but people can change (person by person) the way they think and react to the facts presented by our free press. Higher education plays a helpful role in this development of critical thinking.
It looks like the b.s from itt has been flowing in river fashion lately.
and they been caught.
i've heard rumours of fraud in the continuation of collection fed money for students who were no longer enrolled. millions of dollars. if true, this will bk this place.
I've heard rumours of fraud in the continuation of collection fed money for students who were no longer enrolled. millions of dollars. if true, this will bk this place.
I am certain you know nothing of the Title IV loan program, otherwise you would not have displayed your stupidity on this board.
Also, it is not Fed money. The Feds don't lend money. Idiot. "Rumours" would be a better source than your intelligence for guiding your investments...
Amazing drivel. You would benefit from a good education at ITT.
Re: Continuation of collecting federal money.
I decided to no longer attend, and withdrew from the San Bernardino campus. A month or so passed, and I was receiving telephone calls and letters from a collection agency, regarding an unpaid balance of approximately $700.
I called the school, and was told by someone in accounting that they could not speak to me because my account had been sent to a collection agency.
I then contacted the Director of the school, who initiated a review of my account. As a result of that review, not only did I NOT owe them a penny, they had forgotten to return approximately $5000.00 of my student loans.
Having had this experience, I can see justification in what has transpired this past week. But, time will tell.
The only issue I have with the Govt is the way the initial evidence/fact finding process was handled.
It would have been nice if it had been executed in a quieter manner.
But then again you would lose the element of surprise in obtaining material for grand jury proceedings.
If it is found that their is no evidence to support bring up charges against ITT then the matter will most likely be dropped and the company's image will improve over time.
So to answer your question.. no I would not be willing to sue the Federal govt.
I do not believe I would even have a case... unless myself and others could prove in court real damage was done as a result of the way the govt handled the whole process and what sort of remedy would this net us? This would be difficult if not impossible... especially since the govt is following the process allowed to them by law.
I believe former and current students would have a stronger case against ITT's management team if (and only if) this ends up going to trial and the corporation is found guilty of fraud.
To be honest I hope this is not the case and this whole thing blows over. It is not good situation for the current students, former students, employees, or shareholders.