News SEC charges ITT Tech Execs with fraud

Discussion in 'The Howard Stern Show' started by kinneyjames, May 12, 2015.

  1. kinneyjames

    kinneyjames Well-Known Member

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    http://www.buzzfeed.com/mollyhensle...ege-and-its-executives-with-fraud#.nrekJzRVQX

    [​IMG]

    The Securities and Exchange Commission has charged the for-profit college giant ITT Educational Services and its two top executives with fraud, saying the company “made various false and misleading statements and omissions” that concealed the “extraordinary failure” of two of its student loan programs from investors.

    The news sent the troubled company into a financial tailspin, with its stock plummeting 36%. The stock is now down 98% from its high point in 2008, and the company is in disarray: its top executives, the subjects of the SEC charges, have announced plans to leave the company later this year, and it has yet to file its 2014 annual report, which was due in March.

    http://www.sec.gov/news/pressrelease/2015-86.html

    more at link
     
  2. Mr Pink

    Mr Pink Well-Known Member

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    The stock got hammered down 40%.

    I'm gonna grab some. Will let you know.
     
  3. kinneyjames

    kinneyjames Well-Known Member

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    Wouldn't touch it. I don't think dead cat bounce happens yet. IMO
     
    ScottBaiosPenis likes this.
  4. JameGumb

    JameGumb We're all out of toner!

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    I swear the ceo had to have been a chick before.
     
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  5. wife is a whore

    wife is a whore Stripped of POTY for butthurting staff VIP

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    That squirrely fuck is disturbing. I hate when that commercial comes on TV at 4AM.

    He looks like Jackie Earle Haley trying not to look like a crack head.

    [​IMG]
     
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  6. EndOfLine

    EndOfLine PLATINUM SPONSOR VIP

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    Learning is moving online, but not to shit schools like this or the Phoenix one.
     
  7. Chicken Soda

    Chicken Soda Unknown Member

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  8. Chicken Soda

    Chicken Soda Unknown Member

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    I wouldn't touch it now either. The allegations look serious, and this will impact any future loans they might need.

    This stock is going to head further south, and maybe bankruptcy imo.
     
    kinneyjames likes this.
  9. NiggalissCage

    NiggalissCage Well-Known Member

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    Smart move - buy all you can, you will be rich.
     
  10. SouthernListen

    SouthernListen I don't follow the crowd. Sorry about that. VIP

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    Looks like somebody forgot to mail the political donation checks.
     
    Chicken Soda likes this.
  11. BethSucks

    BethSucks Well-Known Member Staff Member

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    Does this mean if I spend a fortune on one of their edgy, high tech programs I won't be offered the CEO position at IBM
     
  12. Mr Pink

    Mr Pink Well-Known Member

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    Just a little bit for fun. I've watched many bounces go by instead of riding them. Not this time dangnabbit.

    Also, this company has been around forever. I remember seeing the commercials as a kid. Longevity counts for something...sometimes.
     
  13. Pussy Tendon

    Pussy Tendon Wet! CUNT!!!!!

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    Yeah look at the lifetime history of the stock... Stranger things have happened. $200 to the casino or $200 on a five-year gamble on ITT... Why not?
     
    bea miller and wife is a whore like this.
  14. Macro57

    Macro57 Well-Known Member

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    I thought the same thing back in 08-09' when GM was scraping the bottom. No way they could go bankrupt. Been around too long.
    I lost some $$ on that bet.
     
    Mr Pink likes this.
  15. Chibbs

    Chibbs Well-Known Member

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    These guys are only in the business of getting the students financed.
    None of the credits are accepted at any accredited institution.

    Kind of like the Connecticut School of Broadcasting.
    The only difference being that CSB could actually place you.
    Artie Lange is a CSB graduate.
     
  16. Pussy Tendon

    Pussy Tendon Wet! CUNT!!!!!

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    Student loans are the next big financial problem... Thanks, university of Phoenix.
     
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  17. Mr Pink

    Mr Pink Well-Known Member

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    On the other hand, Bank of American at $2 after the financial crisis or many of the airlines after 911 would have been very lucrative.
     
  18. Chicken Soda

    Chicken Soda Unknown Member

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    Not only it took taxpayers to help out, but Warren Buffet also had to run in to save the day. BOA had the infrastructure in place and an international trusted brand.
     
  19. Mr Pink

    Mr Pink Well-Known Member

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    Yeah, and even so, some major players still went down hard.
     
  20. LawyerLarry

    LawyerLarry Mr. Fuckmoney in the Bank VIP

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    That seems to be outside the jurisdiction of the Southeastern Conference.