His letter to Arne Duncan is here:
Bonnie and Clyde: the corporate democrats and Richard Blum, the husband of Senator Diane Feinstein
As I have written, without the democratic machine the for-profits would not be able to get away with financial murder. Take a look at Dahn Shualis’s letter to Blum Capital Partners dated December 16, 2013 and again on December 18, 2013:
Blum Capital Partners, LP” (e-mail, December 16, 2013).
Maybe after Blum has sold all the public post offices he can to friends, his company might respond. But then the response will be vague, obfuscation and lies. As to his wife: she is a petty criminal posing as a liberal. The truth is that it’s not just a few Democrats joining the Republicans, it’s also the Democratic machine that includes Dianne Feinstein, Ed Rendell, and Jerry Brown, the complicity of Democratic media icons such as Al Sharpton, Ed Schultz, and Rachel Maddow, and the self-censorship of mainstream outlets such as MSNBC and the NY Times that keep this charade going.
“Senator Dick Durbin is asking Arne Duncan for a federal investigation of Corinthian Colleges. Will you now ask CALSTRS and CALPERS to divest? It appears that CALPERS has already cut its position by 80% this quarter” (e-mail 12/21/2013).
In sociology, we call this response a “technique of neutralization,” an excuse or rationalization for immoral behavior and avoiding a negative label. But it’s also complicity in this predatory for-profit higher educational system-by public school teachers themselves. Even if someone else buys the stock, the stain will be off the hands of California teachers and retirees.
More on Corinthian
“The confusion is compounded because so many schools use third party lenders to makeor service the loans. Corinthian’s relationship with Genesis is an example of this type of affiliation. Corinthian retains the risk, but Genesis is usually the company that collects. One student in an on-line complaint said he only found out long after he left the school that despite Genesis’s aggressive collection efforts, “ . . . Genesis is just a service center, not the owner of my loan. 67”
For-profit colleges today have 13 percent of all college students — but 47 percent of student loan defaults. The real cost to a student of a year at one of the major for-profit schools can be almost twice as much as attending Harvard, yet many for-profit college graduates, aiming for careers in health care and high-tech, struggle to find jobs beyond the Office Depot positions they could have obtained without a degree. The people whose financial futures are ruined by predatory for-profit schools are veterans, single mothers, immigrants, and others struggling to build better lives.”
“David Halperin headlined at Huffington Post also on the 16th, “Corruption Threatens Obama Action on For-Profit Colleges,” and he reported that Republicans and a few Democrats were trying to water down the Obama administration’s proposal to hold colleges responsible for providing degrees and courses that employers want from job-applicants, in order for them to be able to receive federal subsidy. “Since 2009 the Obama administration has been seeking to issue a rule that would implement a requirement written into law that federal money go only to those career education programs that actually prepare students for ‘gainful employment.'” Halperin makes clear:
Under this current draft of the gainful employment rule, only 13 percent of current career education programs would be at any risk of losing eligibility for federal aid, and no school would face penalties until 2018. That’s far too lenient. … Far more than 13 percent of current programs are bad for students and are unworthy of taxpayer support. The major for-profit college companies — including Apollo (University of Phoenix), Education Management Corp. (The Art Institutes, Brown Mackie), Kaplan, ITT Tech, Career Education Corp. (Sanford-Brown, Brooks, Cordon Bleu), and Corinthian Colleges (Everest, Heald, Wyotech) — disserve and abuse a significant percentage of their students.”
CALSTRS and Corinthian College
It appears that CALPERS (California public service workers pension) has drastically reduced its position in Corinthian Colleges this quarter, but there has been no press on that. If CALPERS is divesting, why isn’t it being made public?
Here is a message from Mr. Duran of CALSTRS dated the 16th of December. Nothing has materialized
“Hi Dr. Shaulis:
I’ve alerted our people in the investment division about your inquiry and we are working on your request. You should be receiving a letter within the next few days with our response.
Please let me know when you’ve received it and if it meets your needs.
California State Teachers’ Retirement System
One Mission, 100 Years: Securing the Financial Future of California’s Educators
Whose Duran and CALSTRS kidding? They are emptying the coffers of teacher pension funds and CALSTRS is simply spitting in the wind, “to secure the financial future of California Educators.”
On the layoff.com, former workers and students are getting even more angry (read from bottom, up).
Anonymous1749, Wednesday 12/18/13 11:26:58 UTC
More like a car wreck!
I think car dealerships are more honest and upright with their customers than CCI, at least you can see your product and use it! I know many think we are all a bunch of disgruntle workers on this site but I’ve got years of experience working for CCI and they are a disservice to any and all institutions. I’ve seen it all with my own eyes and begged every day that the economy would pick up just so I can distance myself from them permanent which I eventually did. I hope their doors are locked shut tight some day.
Anonymous1747, Wednesday 12/18/13 06:57:08 UTC
CCI employee for 5 years.
CCI is the epitome of evil.Its all about money. And every employee there is constantly in fear of losing their job. The president blatantly threatened admissions reps jobs last month. Basically this is a used car dealership.
Former CCI employee (Wyotech), Tuesday 12/17/13 15:48:48 UTC
A complete joke!
I was laid off from Wyotech earlier this year and looking back I am embarrassed that I ever worked for this school. The managers and Vice Presidents sleep around and drink with employees and discriminate beyond belief. What a joke! Judgment day is coming. The pride, arrogance, and gross mismanagement is catching up with them. The way they treat thier emoployees is a tragedy. Don’t go to school here. Run for your lives!
Anonymous1681, Tuesday 12/17/13 01:26:34 UTC
AS EASY AS A B C…
Low or NO ENROLLMENTS, NO RE-ENTRIES MEANS NO SCHOOL!!!! NO SCHOOL NO OUTRAGEOUS LOANS/DEBT/DEFAULT THAT WE ALL WILL SUFFER THE CONSEQUENCES WITH. CREDITS ARE NOT TRANSFERABLE- THAT IN ITSELF REGARDLESS OF THE COMPANY AND POOR REPUTATION SHOULD TELL YOU TO STAY AWAY!!!! GO TO A COMMUNITY SCHOOL AND IF THAT IS HARD FOR YOU, GET SOME ONE ON ONE TUTORING SO YOU CAN MAKE IT THROUGH.
Anonymous1680 (Former Career Services), Tuesday 12/17/13 01:22:25
Nothing surprises me….
I don’t doubt that they purposely hire Everest students for temp jobs just to improve their numbers- everything they do is motivated by eluding the government that For Profit is working. Horrible, if I were an admissions rep I could not look myself in the mirror- I tried to help students, really I did but it was so mismanaged that I was one of few who quit. Those I worked with including our Director was sleeping around and not focusing on sincerely helping students. I hope students get to read these and start spreading the word, but if they are ignorant or feel agencies like Unemployment are backing them up it looks like they are legitimizing it or why would agencies be involved. MONEY, MONEY MONEY, GREED GREED GREED…
Anonymous1645, Monday 12/16/13 20:31:17 UTC
Friends don’t let their friends go to CCI schools
It’s that simple. If you were ripped off or were a frustrated instructor then simply tell your friends NOT to go to a CCI school. If the enrollment heads off to ZERO then CCI goes out of business. If it sounds simplistic then it is because it is that simple.
Former Student, Monday 12/16/13 18:29:27 UTC
So glad now that Everest Colleges is included in the CCI, Hall Of Infamous Con/Scam Artists Club feel freely to vent on Heald, Wyotech & Everest
Anonymous1626, Monday 12/16/13 07:14:11 UTC
Heald College instructor class size to increase
Heald College class sizes are about to go to 50 students as CCI will not be replacing those that quit. The “cattle” will simply be stuffed 50+ to a room.