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BUSINESS
August 23, 2011
Shares of Corinthian Colleges Inc. dropped after the for-profit operator of more than 100 colleges in North America reported that profit slid 90% in its fiscal fourth quarter. Shares of the Santa Ana company fell 15 cents, or 7.1%, to $1.96, the stock's lowest price since August 1999. Net income in the period ended June 30 fell to $3.37 million, or 5 cents a share, from $33.9 million, or 38 cents, a year earlier, Corinthian said Tuesday. Sales dropped 12% to $425.2 million.
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BUSINESS
February 6, 2014 | By Ricardo Lopez
Federal regulators are investigating for-profit college chain Corinthian Colleges Inc. for falsifying job-placement rates, adding to at least a dozen other state and federal investigations into the company's business practices, Corinthian disclosed in an earnings statement Wednesday.  The Santa Ana company also said that the Department of Education has denied approval for new programs and locations until it provides more information on its students...
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BUSINESS
September 19, 2011 | Reuters
Corinthian Colleges Inc. is cutting 325 jobs, or about 2% of its workforce, adding to the job cuts announced earlier this year as it battles declining student enrollment. The Santa Ana company, which runs a chain of for-profit colleges and employs about 16,600 people, had said this year that it would cut 4% of its workforce and hold off growth plans. "Like many other private-sector education organizations, we have recently experienced a decline in student enrollment and we are adjusting our workforce to reflect this change," Corinthian spokesman Kent Jenkins said.
BUSINESS
October 10, 2013 | By Shan Li
California Atty. Gen. Kamala D. Harris filed a lawsuit Thursday against Corinthian Colleges Inc. and its subsidiaries, accusing the company of false and predatory advertising, securities fraud and intentional misrepresentations to students. The Santa Ana company, one of the world's largest for-profit college businesses, allegedly targeted low-income Californians through "aggressive marketing campaigns" that inaccurately represented job placement rates and school programs, the complaint said.
BUSINESS
October 10, 2013 | By Michael Hiltzik
Corinthian Colleges again stands accused of being one of the crummiest operators in a crummy industry -- the for-profit college game. The finger-pointing this time comes from California Atty. Gen. Kamala Harris, who sued Santa Ana-based Corinthian on Thursday for a pattern of out-and-out lying to applicants and students about placement rates and other facts. She also accused the company of misleading investors in a way that the Securities and Exchange Commission would want to ask about, if it weren't closed for business because of the Republican shutdown.
BUSINESS
August 20, 2011 | By Stuart Pfeifer, Los Angeles Times
An appeals court has restored a whistle-blower lawsuit that accuses Santa Ana-based Corinthian Colleges of violating federal law by paying bonuses to recruiters based on the number of students they enrolled at the company's for-profit vocational colleges. Federal law prohibits colleges from paying commissions based on the number of students a recruiter enrolls. The requirement is intended to prevent recruiters from signing up poorly qualified students who would eventually drop out and be unwilling or unable to repay federally guaranteed loans.
BUSINESS
February 2, 2011 | By Walter Hamilton, Los Angeles Times
Facing sinking student enrollment and a continuing controversy over for-profit higher education, Corinthian Colleges Inc. posted a loss for its latest quarter and said it would raise tuition and cut 4% of its staff. The Santa Ana company on Tuesday reported a $163.7-million loss for its fiscal second quarter, compared with net income of $39.4 million a year earlier. The latest figure reflected a $206-million charge against earnings. Enrollment of new students fell 8% in the period, which ended Dec. 31, and the company predicted that new enrollments could plunge an additional 15% to 17% in the current quarter.
BUSINESS
November 3, 2000
Corinthian Colleges Inc., a Santa Ana-based operator of private colleges, said it completed the acquisition of substantially all of the assets of Computer Training Academy Inc., including two campuses in the San Jose area. The purchase price was not disclosed. Corinthian also said it plans to open two new branch campuses. The first, a Rhodes College branch, is expected to open in Rancho Cucamonga in January.
BUSINESS
October 13, 2010 | By Sharon Bernstein, Los Angeles Times
As the nation's private, for-profit technical colleges come under increasing fire for promising students more than they can deliver, the president of one of the largest ? Corinthian Colleges Inc. of Santa Ana ? said Tuesday that he was resigning. Matt Ouimet, who has been president of the company since July 2009, said he was leaving "for personal reasons. " His decision came as Congress is preparing to open its third set of hearings on technical schools. Corinthian spokesman Kent Jenkins said that Ouimet, a former executive at Walt Disney Co. and Starwood Hotels executive, was not asked to leave.
BUSINESS
January 30, 2008 | From Times Wire Services
Corinthian Colleges Inc., the for-profit provider of post-secondary education, said Tuesday that its fiscal second-quarter profit tripled. However, the company also reduced its earnings forecast as it braced for student loan cutbacks. Net income rose to $8.11 million, or 10 cents a share, from $2.58 million, or 3 cents, a year earlier, the Santa Ana-based company said. Revenue for the quarter ended Dec. 31 increased 16% to $272.6 million. Corinthian and other education companies are preparing for a halt in lending by SLM Corp.
BUSINESS
October 10, 2013 | By Michael Hiltzik
Corinthian Colleges again stands accused of being one of the crummiest operators in a crummy industry -- the for-profit college game. The finger-pointing this time comes from California Atty. Gen. Kamala Harris, who sued Santa Ana-based Corinthian on Thursday for a pattern of out-and-out lying to applicants and students about placement rates and other facts. She also accused the company of misleading investors in a way that the Securities and Exchange Commission would want to ask about, if it weren't closed for business because of the Republican shutdown.
BUSINESS
September 8, 2013 | By Stuart Pfeifer
These have not been good times for Corinthian Colleges Inc. or its investors. Founded in 1995, Corinthian is one of the world's largest for-profit college companies, with an enrollment of about 81,000 students at 111 schools in 25 states and Canada. Operating under the names Everest, Heald and WyoTech, it offers job-training programs as well as associate's, bachelor's and master's degrees. The Santa Ana company has been under scrutiny about the way it recruits students and the high rate at which its students default on federal loans.
BUSINESS
June 16, 2013 | By Chad Terhune
Shares of Corinthian Colleges Inc. fell 23% last week after the Santa Ana for-profit college chain disclosed that the Securities and Exchange Commission had launched an investigation into the company. Corinthian said it received a subpoena this month from the SEC related to student recruitment, degree completion, job placement, loan defaults and compliance with U.S. Education Department rules, among other issues. The company said in a securities filing it intends to cooperate with the SEC investigation.
BUSINESS
May 31, 2013 | Michael Hiltzik
What do Leon Panetta, Marc Morial and Corinthian Colleges have in common? Good question. Panetta and Morial are among our most distinguished public servants. Panetta earlier this year concluded a stint as secretary of Defense, one of a string of high-level government posts under Presidents Obama and Clinton, preceded by 16 years as a California congressman. Morial served two terms as mayor of New Orleans and is now chief executive of the National Urban League, a leading civil rights organization.
BUSINESS
May 17, 2013 | By Ricardo Lopez
With community colleges turning students away for lack of available slots, Latinos are projected to face disproportionately higher workforce training gaps, a study released Friday found. That means lower wages over the lifetime of an estimated 840,000 Latinos in California, according to a study from Corinthian Colleges and economic consulting firm Encina Advisors. "California's Latino community is likely to be affected disproportionately by budget cuts and overcrowding in community college classrooms," the report said.  From 2008 to 2019, demand for community college education among Latinos is expected to increase 28%, but it's expected to decline for whites and African Americans.
BUSINESS
September 19, 2011 | Reuters
Corinthian Colleges Inc. is cutting 325 jobs, or about 2% of its workforce, adding to the job cuts announced earlier this year as it battles declining student enrollment. The Santa Ana company, which runs a chain of for-profit colleges and employs about 16,600 people, had said this year that it would cut 4% of its workforce and hold off growth plans. "Like many other private-sector education organizations, we have recently experienced a decline in student enrollment and we are adjusting our workforce to reflect this change," Corinthian spokesman Kent Jenkins said.
BUSINESS
April 5, 2000
Corinthian Colleges Inc., Santa Ana operator of 43 private colleges in 17 states, said Tuesday it acquired Georgia Medical Institute, which consists of three campuses in the Atlanta area. Financial terms were not disclosed.
BUSINESS
December 19, 2006 | From Bloomberg News
Corinthian Colleges Inc., the operator of 127 for-profit schools in the U.S. and Canada, named director Terry O. Hartshorn chairman to replace founder David G. Moore, who retired effective Friday. Hartshorn, 61, has been an independent director since September 2005, Corinthian said. Moore, 68, will continue as a member of the company's board, the Santa Ana-based company said. Corinthian shares fell 20 cents to $13.49.
BUSINESS
August 23, 2011
Shares of Corinthian Colleges Inc. dropped after the for-profit operator of more than 100 colleges in North America reported that profit slid 90% in its fiscal fourth quarter. Shares of the Santa Ana company fell 15 cents, or 7.1%, to $1.96, the stock's lowest price since August 1999. Net income in the period ended June 30 fell to $3.37 million, or 5 cents a share, from $33.9 million, or 38 cents, a year earlier, Corinthian said Tuesday. Sales dropped 12% to $425.2 million.
BUSINESS
August 20, 2011 | By Stuart Pfeifer, Los Angeles Times
An appeals court has restored a whistle-blower lawsuit that accuses Santa Ana-based Corinthian Colleges of violating federal law by paying bonuses to recruiters based on the number of students they enrolled at the company's for-profit vocational colleges. Federal law prohibits colleges from paying commissions based on the number of students a recruiter enrolls. The requirement is intended to prevent recruiters from signing up poorly qualified students who would eventually drop out and be unwilling or unable to repay federally guaranteed loans.
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