Some interesting tidbits:
1) CFPB only knew of these infractions because CCI reported them! Geez - talk about mea culpa!
2) They were isolated cases that were against company policy and rectified voluntarily. Enough with the generalizing - painting the whole company as some opportunistic monster.
3) CFPB and the DE don't see eye to eye on several key matters regarding loans and enrollment.
4) DE will not want CCI declaring BK as they have invested too much money in them. They are in effect the largest shareholder here.
5) CCI said they are on track for the school sales and are tired of all these frivolous lawsuits trying to derail their efforts.
All-in-all, this is just more noise though it resulted in another take down of the stock.
Yes, the "Grim Reaper" reference was too comical. Does the govt want loans to be forgiven at the slightest sign of hardship to pay what you owe? This system just rewards deadbeats and that seems to be the American way, whether it is a mortgage, student loan or income taxes...
The Govt wants CCI to sell of their schools in an orderly fashion such that its current students feel minimal impact. But they want to put as many roadblocks as possible to make sure the sale is not easy for CCI. First they prohibit COCO from selling it's loans to other parties even though it is doing so to survive while trying to sell the schools per the Govt's order. But now, they have to write off the loans as well and risk failing to meet the 90/10 rule. In other words, the Govt is telling you to leave the room but putting as many booby traps as possible, on the way to the door, to make your exit as slow and painful as possible. Not only is this counter productive to the end goal but downright callous.
In the end, they know it is mission impossible and will drop the lawsuits or settle for a fraction to minimize liability for the new owner(s) of CCI. They just want to make CCI the poster child (rather whipping boy) so that the other FPE schools get their act together in a hurry.
Jug. That is actually an insightful post. So, Sprint makes about the same on the current deal as before but the street thinks that cash flow and margins and revenues will all shrink. Since Sprint is passing off the cost of the phone to the customers, it does not have to take the initial hit either and they will get more customers from other carriers since this considered the best deal in the US. The only up-front costs will be to buy out contracts and that they will gladly do at the expense of T and VZ. Bottom line, you just proved that Sprint's financials will actually improve (not even accounting for the positive subscriber growth). I agree with that assessment. I know your intent was to bash but I think you did the opposite in effect.
investor7777, I had to read this post since you seem so infatuated with me, though I don't choose to converse with you. You really had 1M shares short? For someone who risked half a million on a short, you sound quite immature to be arguing with everyone and their brother on a message board. Millionaires don't have to claim "I made a boatload" or "I told you so" to a bunch of strangers. And this is the first I am hearing the 1M figure. Your last post makes me laugh. The insiders sold 50K shares in total at 16 cents and that too, they were pre-planned sales. 50K shares! Oh and 19K shares at 15 cents. You are making a big fuss about 69K shares when you had 1M shares? LOL
You are also not good at math either. If you sold short at 47 cents ($470K as you claim) and covered at 10 cents, you made 37 cents on a 47 cent investment ($370K in your example, if true). That is about a 80% return - not over 300%. The max you can make is 100% if it goes to zero. So is the life of a short.
And who says I am singing the blues right now? Or are you confusing me for quick? I bought another 300K shares today. I haven't lost anything since I haven't sold anything. On the contrary, I am buying. I hope you leave since you made your supposed 370K. Pat yourself on the back and go tell your story to some reporter. Now back on ignore.
The practice was so common at an Everest College campus near Atlanta that students and employees referred to one financial aid staffer as the "Grim Reaper," according to the suit.
Seriously? These kind of stupid assertions will get this lawsuit thrown out like many others before it. The whole lawsuit defies logic, expecting $500M from a near bankrupt company. The press is probably having a lot of fun broadcasting these outlandish claims and demands....
The DE will probably tell the CFPB to chill, saying that they are causing more harm to the current employees and students of CCI by getting in the way of a sale with another frivolous lawsuit. I see some big bids. Hoping it is not some smart shorts getting out easy. I would like them to hold till we get the big news - whatever it is...
Correction - NIHD has a market cap of $12M while COCO's is $8M right now. Looney tunes. Picking up more as we speak...
No kidding. Bought 140K shares below a dime. Will add more if they take it down even more. What a shakeout on 1MM shares on another lawsuit that will not go anywhere for months...
My 6.80 order filled towards the close. So, I am holding shares at a little above the 200 DMA (6.72) - on a day where it traded at a 10 year high in volume and over half the free float. If there is follow through volume next week, this will easily revisit the $9s. Else this will be forgotten till earnings show any effect from the Ebola related orders.
The Sierra World Equity lass sure has a colorful imagination. This is the second buyout she is predicting for the stocks that I own. The first is COCO. I don't think she has a decent batting average to get all excited about. Besides, I rather not have Google buy us out when we are trading for $3MM. Maybe when we are $300MM or higher. I can imagine too - LOL!
Well, I am a shareholder now. Still have a partial order that didn't fill at 6.80. But a little over 4K shares in total. Don't want to go too crazy here since the normal daily volumes are way too low.
Point taken. I am assuming you were in this one much longer than you wanted. They did mention that the US govt alone needs 160K of these suits and that there is a shortage worldwide. I am just reading in between the lines.
To put it in perspective, it is the largest volume in 10 years! And that was when it ran to $20. You may be right on the effect to the bottom line, but it can't be worse and you can never underestimate the power of the momo crowd who is looking for an Ebola virus play, no matter how self-serving that might sound. Like I mentioned before, I haven't heard of a company that encourages its competition to compete with it for a good cause. I have an order at 7.10 for my first position
The volume today is 6 x the volume after earnings on Wed. And we are only 3 hours into trading. If it ran on 150K shares I would agree with you. But we are talking almost half the free float here and hence my interest. When I say free float, I mean what is available to retail after subtracting institutional and insider holdings.
Checking this company for the first time. They seem to be having a high demand situation (perhaps temporary) with the Ebola epidemic. I am impressed that they are asking their competitors to increase production too to help in the containment of the disease. That will just make it less profitable for them but it is nice to see capitalism put in the back burner for a change. Now, coming back to the investment - do you see this as an opportunity to get in for a big run to all-time highs ($15-20 range)? Free float is only about 2MM shares and they have traded almost half of that today.
Capital Change=shs decreased by 1 for 75 split Pay date=11/02/2006.
Capital Change=shs increased by 100 for 1 split Ex-date=07/09/2009. Rec date=07/06/2009. Pay date=07/08/2009.
Capital Change=shs decreased by 1 for 200 split Pay date=11/24/2010.
Capital Change=shs decreased by 1 for 2000 split. Ex-date=10/31/2013.
AS is 5B. OS is 961MM.
$1?? Let#$%$ a penny first - LOL! Count me in the party as I would be a multimillionaire if that should happen. I unfortunately bought a little early a few months ago, could have twice the shares if I knew this was going to be yanked around like this. But hindsight is 20/20 as the saying goes and I am at least at breakeven for now. I was worried that I will be writing this off as it dropped below 0.001 because I thought they would do another monster reverse split and wipe us out.
Now they have a product in hand. If they can do a RS on good fundamentals and apply for uplisting, this will fly on the NASDAQ small cap with the small float. They should start production first and line up their first distributor before doing it. They have over $1M to take us to that point. They can then easily do a secondary to raise the necessary capital to enter the big leagues - assuming the product is successful and there is overwhelming demand.