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The Company is a for-profit provider of postsecondary education in the United States. It offers diploma and associate, bachelor and master degree programs at a number of institutes.
I am graduating from here, and as a graduating student I can tell you this stock is way overpriced. It will fall, and fall hard. The management system is horrible, they have a tough time retaining good, solid instructors because of issues with pay and benefits, and as such are losing their best instructors to their direct competition: DeVry, University of Phoenix, etc. The only positive thing I can say about this organization is their services division. ITT/ESI has the best Career Services department I have ever seen, but that alone can not keep the profit margins where they belong. This is a definite land mine.
I was an insructor at ITT Tech(1998-2000). You're right about the pay issue. My impression was that too many students were pushed through the program without earning the grades. This, to me, was an injustice to the students that were excellent students. Yes, I know what you students were paying, even back then. And, yes, you can get your money's worth going through the program, but you must be an exceptional student, and you must earn every bit of what you get. I had recently retired from the Navy as an Electronic Technician, and had spent one tour of duty as an instructor of electrical /electronic measurements (Calibration) at the Lowery Air Force Base, Colorado. The point is, I had experience behind the podium, but the pay (at ITT) was not enough to keep half the staff there much over a year. The instructors that stayed for a number of years, with a couple of exceptions, at the school I taught at, were typically the ones that could not pull their weight in the industry. I count the time spent as an instructor at ITT as a good experience, and I'd have to say that pay was not the primary issue; I'd have to say lack of support for the instructors and grading integrity was my reason for finding work elsewhere. By the way, I'd have to say I believe the problem is quite pervasive, and is not just an ITT problem. Read up a bit on the SAT and ACT scores over the past 20-30 years. Note that ever since the establishment of the Dept of Education, academic performance has gone down. There are reasons for this that I don't have the time to go into. Just pick up a copy of John Stormer's book, "None Dare Call It Education".
I agree this stock is going to plummet there is rumor of a big clash action lawsuit in the state of tennessee
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