September 8, 2013 |
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.
June 16, 2013 |
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.
May 31, 2013 |
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.
May 17, 2013 |
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.
September 19, 2011 |
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.
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.