This price collapse reminds me of when Wendell Maness traded his company for Staffmark stock (then ticker staf/now ticker edgw) and the price went to $3.00 or so. In other words he gave his company away for worthless stock (it had been $25). And Ciber wanted to pay him cash in a Denver dinner meeting! He turned that down!
Owned Staf (now edgw) from 1997 to 1998 and sold it at the peak for a great profit. Its not my family's inheritance and legacy. The cash will forever help us pay for educations, homes, cars, boats and planes! Thanks Clete! Laseriam Queen...
I shorted his stock, STAF all the way down in 1999. Started shorting at $17, and bought back at $4.00 - for an easy fortune! Staf is now EDGW as they purchased EDGW in 1999. It was such an easy trade, acquiring firms for stock (not cash) watered down the financials and the market was so cruel to any company with worsing financials. Hope others made a fortune like me. Still living off the dough!
Will this stock be at risk due to "defense to repayment"? Are all Government Direct Loans going to be let off the hook and then owed by Devry itself? Or just loans back to the origination date of 2008?