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More Pain For Lee Ainslie: Apollo Group Confirms Attorney General Investigation And Subpoena
It has just not been Maverick Capital's quarter: From a just released 8-K
Today, Apollo Group, Inc. announced that its subsidiary, The University of Phoenix, Inc. (“University of Phoenix”), has received notice that the State of Florida Office of the Attorney General in Fort Lauderdale, Florida has commenced an investigation into possible unfair and deceptive trade practices associated with certain alleged practices of University of Phoenix. The notice includes a subpoena to produce documents and detailed information for the time period of January 1, 2006 to the present about a broad spectrum of University of Phoenix’s business.
The Company is evaluating the notice and subpoena.
The information in Item 8.01 of this Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.
Top 25 APOL holders. As can be seen State Street is all over it. Don't worry, stock will now surge as St Street pulls all the borrow and recalls all existing shots.
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Ideas about the subject matter at issue?
Let's see if this Phoenix can rise from the ashes.
Theres University of Phoenix ads all over the place here, now I see what their MBA in Market Fraud Management is all about!
I've had one of them relentlessly tracking me for the past 4 months for "recruiting" after I talked with somebody who set up a table in the lobby at work one day. She leaves voice mail after voice mail, 5-6 times a week, each one fresh and friendly as the first. Amazing persistence . . . I keep meaning to get back to her just to compliment her on that and her remarkable capacity to tolerate frustration with a smile.
Looks like he is going to take a bath on SWK too.... that chart looks ugly!
Lee! Sell your AAPL to cover redemptions! lol
A little info.
http://www.sun-sentinel.com/news/education/highered/fl-florida-investiga...
Been a lot of "I'm a Phoenix" TV ads lately - part of image polishing no doubt.
Better transfer to The Art Institute. Oh, that outfit is owned by filthy criminals as well.
I bet I was the only one to fail the art test!
Lemme guess, ya didn't draw a mouth and nose on your self-portrait! :>D
It must be those top notch salesmen,er,counselors.
That place is a grifters dream.
The whole degree mill/government financial aid/$100,000 student loan debt with zero prospect for a wage that can service the debt is no different that stated income sub-prime mortgages. What is the secondary market for this stuff? In time it will come out that that too was a reason the 2000's economy went so well. No job? Pursue a career in criminal justice for just $75,000 in two years. Well you can't discharge that debt and with a fast-food wage you'll be servicing it for 50 years. True story - had this Chinese national boss with broken English in the 1990's. Wants "American MBA" to round out his career. Signs up for Phoenix, can't read the books - assigns all the homework to me. 18 months later he has a MBA diploma. Later reassigned to Beijing Head Office and presto! Now a senior manager specializing in smoking cigarettes.
look everyone, the game is over. Your pants are down.
Everyone wants to be the next hot shot economic guru. Regulars like AP, that have been dead wrong doomers for years, attract a lot of attention and conversery calling for a 'collapse'.
Regulars use big scary 3-syllable words like 'GRAND GLOBAL DEPRESSION' to fear monger and draw attention with pessimism porn. It's the ego, the narcissism, the lack of self control that drives type of behavior.
"Big Events" or 'Shocks' in the market cause traffic on MW to SPIKE. Regulars slowly build their name calling for THE END OF THE WORLD, slipping their dooms in here or there only to mask their dead wrong dooming.
Next step, start an internet blog. Go on 10 minutes rants about Bernanke (only because you envy his soul and would bend down to kiss his ring for 5 mins of his time). NO ONE CARES! got it?
The football stadiums are full to the BRIM despite run-away ticket, food, parking and commuiting costs. Gyms are full on the weekends. Shopping malls are full and parking spaces are quite difficult to find. Waiting times at middle-class resturants like Applebees, TGI Friday, and Chilis are quite long despite a "Severe Economic Crisis and Depression".
What am I saying. Yes, the recovery is still going slow. THat can be expected after a bubble like we just had. However, the credit and banking system was SAVED. alright? You didn't loose any of your money and even yorur 401k has nearly regained all its returns in a comparative time period.
What am I saying? I understand your frustration. Ya, people got away with some nasty things, but WE DIDN'T HAVE TANKS in the streets. Civl order and stability was preserved and remains totally intact.
You know what I am saying. Just relax. Take a breather. Enjoy life.
Everyone wants to be the next BIG SHOT, "Peter Schiff was right". Sell your books and image on CNBC., get a million hits on Youtube, Fail on every forecast since the "BIG ONE", fail a Senate race, get a radio show to doom your way through the week for 2 hours a day''.
SORRY. We know the game. It's tired.
10 years from now, pending you stay alive after your doom predictions fail to materialize and your trading account BLOW UP.... NOTHING WILL CHANGE!
Uhm... dude, shit's gonna blow up.
France smugly thought that a couple of years ago too. Heidi Klum demanded to only be paid in Euro's. Oh and Greece, when building and borrowing for the Olympics a few years ago convinced everyone, much like Kevin Bacon in Animal House that "All is well, All is well". I think I remember him as cartoon flat by the time the stampede ended. I'm just sayin.
Time is not so linear...among other things.
Likewise your motivation for your long ass comment is highly questionable.
"just relax. take a breather. enjoy life" --> jesus, is Pfiser add? Please expand
Heard tell rumor that Timmah was gonna get an on-line honorary degree from these folks.
I heard rumors that he got his original degrees from these folks.
Wonder how much it would cost for me to hire some really smart dude from India to act as me and get me a PHd in oh, I don't know, nothing flashy....maybe nuclear physics or something straightforward and in demand. I could become a tenured professor and have my teaching assistants do my work there to!
BlackRock = BAC?
This country has always had snake oil salesmen. It is only Goverment funding that is new. Shame on you Sperlings...
If people had followed Steve Eisman and shorted this shit, would have been very rich by now. He had pointed in May about these scam artists, much before the tank.
Apollo is not the best of the for-profit universities, but the industry as a whole has gotten a very raw deal, and journalists have been way too credulous about Eisman's attack. If one is really concerned about poor job placement and excessive debt, one would need to look at non-profit universities. Non-profit colleges and universities are far more costly to taxpayers, do a far weaker job of mentoring students and preparing them for gainful employment, and are far likelier to offer misleading or inadequate information to prospective students. Eisman, meanwhile, has been extremely sloppy about his facts. He may be right about his short thesis, because a bunch of Stalinist bureaucrats have decided that defunding for-profits is the best way to protect bloated, inefficient public universities. But he is certainly wrong about the costs to taxpayers, and, astonishingly, he never even bothered to find out the government's actual recovery rates on student loan defaults before he went on television to denounce the industry.