Dade Medical College to close immediately, staff is told

[alp227]

Source: Miami Herald

Dade Medical College, the homegrown for-profit school that grew from humble origins to become an educational juggernaut with six campuses from Homestead to Jacksonville, announced Friday it is closing its doors, effective at the end of the day.

“Yes, we were notified the school is closing today,” said Cheryl Etters, a spokeswoman with the Florida Department of Education. “We are working with the school to transition students to others schools in the area offering the same programs.”

News of the closure, one of a number in recent months in the for-profit college sector, was shared at staff meetings in the afternoon and came amid several signs that the college’s finances were unraveling.

Among those signs: a $4.6 million court judgment imposed against Dade Medical in a federal lawsuit over student loans, an announcement that the school would eliminate its signature nursing associate’s degree program at three campuses and an internal email indicating that the school’s most recent paychecks had bounced.

Read more: http://www.miamiherald.com/news/local/community/miami-dade/article41967387.html

[KamaAina]

1. "and an internal email indicating that the school’s most recent paychecks had bounced"

I used to work for a guy back in Connecticut who would bounce checks every few months. It became a running joke. Someone actually found a rubber check in a novelty store and gave it to me! We affectionately called the guy "the Little Dunce" (he stood about 5'6&quot .

[alfredo]

2. I wonder how much the CEO and his officers sucked out of the business?

[Plucketeer]

3. Yet one more example

of the case for privatization. Bend over, here comes your education.

[OnlinePoker]

4. With stellar execs like this, what could go wrong?

... began with the naming of Dr. Steven Kerr as President of the University of Southernmost Florida. Dr. Kerr has brought a wealth of experience to the institution—he is currently senior advisor to Goldman Sachs and was Goldman’s chief learning officer and a managing director from 2001-2006. He was also General Electric’s vice president of corporate leadership development and led GE’s renowned leadership education center.

http://dademedical.edu/about/

[packman]

5. So he knows the concept of the "Golden Parachute"

which I'm sure he and his cronies will receive .

[dembotoz]

6. sucks when paychecks bounce

seems higher ups come out better than the rest of us.....
lost a bundle