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Stocks I / ITT Educational Services

URL:  http://boards.fool.com/ilan-the-fact-is-they-did-jerk-me-around-after-20403676.aspx

Subject:  Re: Title IV investigation Date:  2/28/2004  9:10 AM
Author:  Dinkumoil Number:  11 of 29

Ilan,

The fact is they did jerk me around (after several interviews and a teaching assignment offer) and I declined to teach at one of their locations in Illinois. I took this all the way to ITT (ESI) CHQ in Indianapolis, Indiana and got nothing. Nada. The hiring process and pay scale was nothing sort of ridiculous.

The questions you are asking about are good ones and the ones I think the Feds want to know about (actual stats of placements, retention, etc vs reported numbers). It's hard to believe authorities would just decide to raid locations on a whim or just for the fun of it. Someone somewhere had to tip them off. Now it's a matter of what may have been misreported, over what period of time, who will be held accoutable, and what will the sanctions be.

What is the ultimate scenairo? Loss of grant monies and/or loans for students. Given the tuition rates at private schools like ITT (up to 8x a public post secondary school) they need funding sources for students to be able to afford their classes.

Hope that helps.

Dink
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