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Corinthian Colleges Inc

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BUSINESS
April 27, 2001
The Santa Ana operator of private vocational schools and colleges, reported that net income for the third quarter of fiscal 2001 increased 53% to $7.2 million, or 33 cents a share, from $4.7 million, or 22 cents a share, a year ago. Revenue for the quarter ended March 31 was up 49% to $65.2 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
July 7, 2004
Corinthian Colleges Inc., which operates colleges in the U.S. and Canada, said it would begin closing 10 Canadian campuses over the next year to reallocate its resources and expand other sites in that country.
BUSINESS
December 23, 2013 | Marc Lifsher
Employers, especially owners of small businesses, are about to see increases in their workers' compensation insurance bills. Insurance Commissioner Dave Jones looked at the $14-billion-a-year market and advised that premium increases of 6.7% would not be out of line for policies that take effect after Jan. 1. The state's largest carrier, the government-run State Compensation Insurance Fund, plans to raise its rates roughly 6.5% beginning in March....
BUSINESS
May 4, 1999 | Bloomberg News
Corinthian Colleges Inc. stock surged for a second day after the Santa Ana operator of for-profit career colleges posted better-than-expected earnings for the fiscal third quarter and announced its revenue and enrollments had increased. The shares gained 16%, or $2.63, on Monday to close at $19 on the Nasdaq market. The increase, combined with the stock's 28% gain on Friday, brought the gain to 49% in two days of trading.
BUSINESS
October 25, 2000
Santa Ana-based Corinthian Colleges Inc., one of the nation's largest operators of private vocational schools and colleges, said it has completed its acquisition of closely held Educorp Inc., which operates four Los Angeles-area campuses. In regulatory documents, Corinthian put the price at about $12 million for the campuses, which offer certificates, diplomas and degrees primarily in health programs.
BUSINESS
September 23, 2005 | From Bloomberg News
In an unusual rebuke, Michael P. Berry resigned as a director of Santa Ana-based Corinthian Colleges Inc., saying in a letter dated Sunday that the operator of for-profit colleges and training centers had "lost its focus" and was afraid to make needed change. Corinthian said Thursday that Terry Hartshorn, one of the founders of PacifiCare Health Systems Inc., had been named to succeed Berry, a restaurant industry consultant and a former executive at Calabasas Hills-based Cheesecake Factory Inc.
BUSINESS
October 18, 1996
Corinthian Colleges Inc., owner of 18 private-career schools nationwide, has acquired 18 schools from Phillips Colleges Inc. in Gulfport, Miss., for $30 million. The Phillips colleges now operated by Corinthian include Duffs Business Institute in Pittsburgh, the country's oldest proprietary college, and Blair College in Colorado Springs, which marks its 100th anniversary next year. The other campuses acquired are in Florida, New York, Washington, Nevada, Utah, Oregon and Missouri.
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
September 22, 2013 | By Hugo Martin
With the lingering effects of the Great Recession slowly disappearing, more business travelers are reserving high-priced hotel rooms and booking roomier seats in the front of the plane. But the luxury spending may be benefiting executives, not middle managers and lower-level workers. At the depth of the recession, most major companies restricted workers to flying in the economy section and booking budget hotel rooms. But some businesses now seem to be loosening the purse strings on the travel budget.
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 1, 2008 | From Times Wire Services
For-profit education company Corinthian Colleges Inc. reported slightly lower quarterly profit, citing a loss from the sale of some schools, and said full-year earnings should come in at the low end of its previous forecast. The Santa Ana-based company, which has scrambled to retain students after Sallie Mae said it would stop providing private loans, said it now required most students to make monthly cash payments. It also has established a lending program and is working with third-party lenders to secure additional funds for students.
BUSINESS
January 23, 2008 | From Bloomberg News
Shares of Corinthian Colleges Inc. plunged Tuesday after the operator of career training schools said Sallie Mae and two other lenders halted private loans for students with higher credit risks. High risk, or sub-prime, loans accounted for about 75% of Corinthian's student loan portfolio in the fiscal year ended June 30, the Santa Ana-based company said in a regulatory filing. Corinthian's stock suffered its biggest drop in more than three years on the news, falling $3.34, or almost 31%, to $7.
BUSINESS
October 31, 2007 | From Times Wire Services
Higher education company Corinthian Colleges Inc. said quarterly profit rose 39% as the number of new students increased. Corinthian also said earnings for the 2008 fiscal year would come in at the high end of its previous forecast. The Santa Ana-based company reported fiscal first-quarter net income of $1.95 million, or 2 cents a share, compared with $1.4 million, or 2 cents, a year earlier.
BUSINESS
October 18, 2007 | From Times Wire Services
Corinthian Colleges Inc., an operator of 126 schools in the U.S. and Canada, was subpoenaed by the federal government for documents from a Florida campus. The company's stock fell the most in more than two years of Nasdaq trading. The Education Department's inspector general served a search warrant on the National School of Technology campus in Fort Lauderdale, Corinthian said in a regulatory filing. The Santa Ana-based company said it didn't know what prompted the investigation.
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