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BUSINESS
March 29, 1988
United Education & Software reported record earnings in the fourth quarter ended Jan. 31 that more than tripled the profit earned a year earlier. The Encino-based operator of trade schools said its profit rose to $1.5 million, or 44 cents a share, contrasted with $397,000, or 13 cents a share, a year earlier. Revenue was up 93% to a record $25.8 million, compared to $13.4 million a year ago. Company president Aaron Cohen attributed the gains to the acquisition and opening of new schools.
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BUSINESS
June 11, 1992 | From a Times Staff Writer
A consumer-protection complaint against United Education and Software, a trade-school operator, has been settled, the state attorney general's office said Tuesday. The agreement provides $6.5 million in credit for students who are owed refunds by the Encino-based company. United Education operates Pacific Coast colleges in Santa Ana, Encino and Chula Vista, and Sawyer College of Business in San Diego. Its main subsidiary is operating under bankruptcy court protection.
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BUSINESS
June 13, 1989
United Education & Software in Encino named Margaret G. Orem to the newly created post of assistant vice president and director of internal audit. UES operates a chain of trade schools. Orem spent eight years as head of the campus-based policy section of the U.S. Department of Education's student financial assistance office. At UES, she will be responsible for conducting internal audits of government programs, particularly those involving student financial-aid money used at UES' schools.
BUSINESS
July 23, 1991 | PATRICE APODACA, TIMES STAFF WRITER
Two relatives of past executives at troubled United Education & Software Inc. have agreed to settle insider trading cases recently filed against them by the Securities and Exchange Commission. Bettyann Lin, the wife of former United Education chairman Jack Lin, and Mark D. Cohen, the son of United Education's former president, Aaron Cohen, did not admit or deny the allegations, but both agreed to permanent injunctions barring them from future violations of insider-trading laws.
BUSINESS
June 20, 1989
United Education & Software, an Encino operator of trade schools, said its fiscal first-quarter profit plunged 98% from a year earlier on a 7% decline in revenue. In the quarter ended April 30, United Education's net income dropped to $24,000 from $1.1 million, while its revenue fell to $20.6 million from $22.2 million. United Education blamed the declines on relatively low unemployment rates, which reduced enrollment at its training schools, and higher interest costs.
BUSINESS
June 27, 1989
AIFS Inc., a San Francisco company that sells and operates educational programs, disclosed in a U.S. Securities and Exchange Commission filing that it owns 5% of United Education & Software, a troubled chain of vocational schools based in Encino. In the document, AIFS said it may seek to take over the company, although such wording is common in SEC filings that disclose stock ownership. In an interview, Roger O. Walther, AIFS chief executive, said the company is investing in United Education because he believes that its stock price does not reflect the company's value.
BUSINESS
April 18, 1989 | DOUGLAS FRANTZ, Times Staff Writer
Nine of the world's largest banks filed lawsuits Monday demanding that Bank of America be found responsible for hundreds of millions in losses arising from the most expensive foul-up in the history of the U.S. student loan program. In identical suits filed in U.S. District Court in Los Angeles, the banks said they have already lost more than $350 million and that losses are expected to reach between $450 million and $650 million. One of the nine, Bank of Tokyo, said it alone has lost $177 million.
BUSINESS
April 30, 1989 | LINDA WILLIAMS, Times Staff Writer
In some quarters, Maxxam Inc. wouldn't rate as anybody's favorite corporation. The Los Angeles-based real estate development company has a history of attracting negative publicity, including a loud chorus of condemnation over the accelerated cutting of redwood trees after its move into California's lumber industry in 1986. But investors applauded last year when Maxxam bought KaiserTech, the parent of Oakland-based Kaiser Aluminum & Chemical. Maxxam's shares rose 225% in the past year, showing the greatest stock price appreciation of all California companies surveyed by MZ Group of San Francisco.
BUSINESS
April 11, 1989 | JAMES BATES, Times Staff Writer
Stock prices for most San Fernando Valley-area companies rose during the first quarter of the year, led by entertainment companies and firms that may be takeover candidates. Gainers outnumbered losers 3 to 2 for the quarter that ended March 31. Of 56 stocks of major companies in the Valley area, 31 rose in price in the quarter, 20 fell, and five were unchanged. The results, compiled for The Times by Communications Research Group of Austin, Tex., included stocks of companies with headquarters in the area from Glendale to Camarillo, whose shares traded publicly for more than $3 at the start of the quarter.
BUSINESS
July 17, 1990 | PATRICE APODACA, TIMES STAFF WRITER
United Education & Software Inc., the parent of embattled trade-school operator United Education & Software, which filed for Chapter 11 bankruptcy reorganization last December, said Aaron Cohen resigned Friday as president and chief executive officer. Cohen was replaced by United Education's chairman, Stanley R. Schoen. Cohen also announced plans to resign as president and chief executive of the company's subsidiary, but that must be approved by the U.S. Bankruptcy Court, the company said.
BUSINESS
July 17, 1990 | PATRICE APODACA, TIMES STAFF WRITER
United Education & Software Inc., the parent of embattled trade-school operator United Education & Software, which filed for Chapter 11 bankruptcy reorganization last December, said Aaron Cohen resigned Friday as president and chief executive officer. Cohen was replaced by United Education's chairman, Stanley R. Schoen. Cohen also announced plans to resign as president and chief executive of the company's subsidiary, but that must be approved by the U.S. Bankruptcy Court, the company said.
BUSINESS
December 6, 1989 | PATRICE APODACA, TIMES STAFF WRITER
United Education & Software, the troubled Encino-based trade school operator that has been under fire from federal and state agencies, said it has filed for Chapter 11 bankruptcy protection with the federal bankruptcy court in Los Angeles. Aaron Cohen, United Education's president and chief executive, blamed the company's need to seek bankruptcy protection in part on the California Student Aid Commission, the state agency that administers the federal student loan guarantee program.
BUSINESS
November 28, 1989 | PATRICE APODACA, TIMES STAFF WRITER
When Margaret Willson) signed up in November, 1988, for a home-study computer course offered by National Technical Schools in Los Angeles, she thought she was on her way to a new career in computer programming. But a year later, Willson is fighting mad. "It was a bunch of garbage," said the Palmdale resident, who graduated from the course last spring only to find that the skills she learned from the NTS course didn't qualify her for an entry level computer job.
BUSINESS
June 27, 1989
AIFS Inc., a San Francisco company that sells and operates educational programs, disclosed in a U.S. Securities and Exchange Commission filing that it owns 5% of United Education & Software, a troubled chain of vocational schools based in Encino. In the document, AIFS said it may seek to take over the company, although such wording is common in SEC filings that disclose stock ownership. In an interview, Roger O. Walther, AIFS chief executive, said the company is investing in United Education because he believes that its stock price does not reflect the company's value.
BUSINESS
June 20, 1989
United Education & Software, an Encino operator of trade schools, said its fiscal first-quarter profit plunged 98% from a year earlier on a 7% decline in revenue. In the quarter ended April 30, United Education's net income dropped to $24,000 from $1.1 million, while its revenue fell to $20.6 million from $22.2 million. United Education blamed the declines on relatively low unemployment rates, which reduced enrollment at its training schools, and higher interest costs.
BUSINESS
June 13, 1989
United Education & Software in Encino named Margaret G. Orem to the newly created post of assistant vice president and director of internal audit. UES operates a chain of trade schools. Orem spent eight years as head of the campus-based policy section of the U.S. Department of Education's student financial assistance office. At UES, she will be responsible for conducting internal audits of government programs, particularly those involving student financial-aid money used at UES' schools.
BUSINESS
November 18, 1986
Encino-based United Education & Software reported 19% higher earnings on 32% higher sales for its third quarter ended Oct. 31. Earnings were $665,000, or 22 cents a share, on sales of $8.25 million. In the same quarter a year earlier, earnings were $559,000, or 20 cents a share, on sales of $6.3 million. For the nine months ended Oct. 31, net income rose 53%, to $1.3 million, or 42 cents a share. Revenue rose 41%, to $23.6 million.
BUSINESS
December 6, 1989 | PATRICE APODACA, TIMES STAFF WRITER
United Education & Software, the troubled Encino-based trade school operator that has been under fire from federal and state agencies, said it has filed for Chapter 11 bankruptcy protection with the federal bankruptcy court in Los Angeles. Aaron Cohen, United Education's president and chief executive, blamed the company's need to seek bankruptcy protection in part on the California Student Aid Commission, the state agency that administers the federal student loan guarantee program.
BUSINESS
April 30, 1989 | LINDA WILLIAMS, Times Staff Writer
In some quarters, Maxxam Inc. wouldn't rate as anybody's favorite corporation. The Los Angeles-based real estate development company has a history of attracting negative publicity, including a loud chorus of condemnation over the accelerated cutting of redwood trees after its move into California's lumber industry in 1986. But investors applauded last year when Maxxam bought KaiserTech, the parent of Oakland-based Kaiser Aluminum & Chemical. Maxxam's shares rose 225% in the past year, showing the greatest stock price appreciation of all California companies surveyed by MZ Group of San Francisco.
BUSINESS
April 18, 1989 | DOUGLAS FRANTZ, Times Staff Writer
Nine of the world's largest banks filed lawsuits Monday demanding that Bank of America be found responsible for hundreds of millions in losses arising from the most expensive foul-up in the history of the U.S. student loan program. In identical suits filed in U.S. District Court in Los Angeles, the banks said they have already lost more than $350 million and that losses are expected to reach between $450 million and $650 million. One of the nine, Bank of Tokyo, said it alone has lost $177 million.
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