Education Business

ITT shares plunge on competitor's enrollment woes

March 29, 2011
 IBJ Staff and Bloomberg News
Shares of Carmel-based ITT Educational Services Inc. fell as much as 6.8 percent Tuesday morning after the largest player in its industry reported a 45-percent plunge in new-student enrollment.
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New federal rules prompt ITT to change bonus-pay criteria

March 9, 2011
Scott Olson
The Carmel-based for-profit educator still will pay its top executives bonuses, but they'll no longer be tied to school enrollment, the company said Tuesday in a proxy filing.
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Transition-to-teaching students find few jobs

March 6, 2011
Associated Press
An Indiana Department of Education report shows less than 40 percent of those who completed the transition-to-teaching programs in 2008-2009 were working in Indiana schools last year.
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DeVry Inc. plans to open local nursing school

February 15, 2011
The for-profit school would lease 24,000 square feet at its Keystone Crossing campus and employ 55 people in its nursing program at an average wage of $28.85 an hour. DeVry is requesting property-tax abatement to offset investment costs.
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Sallie Mae restructuring affects Indiana jobs

December 8, 2010
Kathleen McLaughlin
Student-loan giant lays off about 70 people in Fishers as part of national reshuffling.
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Lending overhaul could be trouble for ITT

August 21, 2010
J.K. Wall
New student-lending rules proposed by the Obama administration could wipe out as much as two-thirds of profits at Carmel-based ITT Educational Services Inc., some analysts believe.
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ITT, other for-profit education firms face more oversight

August 15, 2010
Bloomberg News
Shares in ITT Educational Services Inc., based in Carmel, declined 13 percent Monday morning, to $56.02 each, after being downgraded
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ITT Educational posts profit, raises forecast

July 22, 2010
The Carmel-based operator of for-profit colleges saw its profit increase to $96 million in the second quarter, while enrollment jumped 10 percent.
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Senator to probe spending at for-profit colleges

June 10, 2010
Bloomberg News
ITT Educational Services Inc., Apollo Group Inc.'s University of Phoenix, Career Education Corp. and other for-profit educators are under increasing federal scrutiny over their recruitment practices and the level of student loan defaults.
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Obama plans tougher rules on for-profit colleges

May 4, 2010
Bloomberg News
The administration is gearing up to produce tougher regulations that may reduce the amount of federal financial aid flowing to for-profit colleges such as locally-based ITT Educational.
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ITT Educational altered test scores, ex-employee's suit says

April 21, 2010
Bloomberg News
Former director says he saw employees give passing scores to students who had failed entrance exams, raise their grades and alter their attendance records so they would continue to receive U.S. financial aid.
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ITT 'buying accreditation' strategy makes critics uneasy

March 22, 2010
Bloomberg News
ITT Educational Services and other for-profit educators are buying not-for-profit colleges to gain access to their regional accreditation. The tactic could fuel rapid growth but makes critics uncomfortable.
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ITT Educational's quarterly profit, revenue climb

January 21, 2010
ITT Educational Services Inc. reported higher profit in the fourth quarter of 2009, earning $2.56 per share. The Carmel-based for-profit educator's earnings topped analysts' expectations.
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ITT stock swoons despite higher profits, enrollment

October 22, 2009
J.K. Wall
Investors dumped shares of ITT Educational Services Inc. on Thursday morning as the company remained mute on its year-end profit forecast while announcing that its bad-debt expenses were rising faster than revenue.
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Big profits elevate ITT Educational into rare classRestricted Content

October 17, 2009
J.K. Wall
CEO Kevin Modany and his management team have become accustomed to regulatory uncertainty—and to growing the business at a pace most executives can only dream about.
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Almost half of Martin U.'s trustees resign

November 3, 2008
Kathleen McLaughlin
Seven Martin University trustees have resigned this year, and at least two say President Algeania Freeman's methods were a factor.
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Credit-market turmoil casts uncertainty over ITT Educational ServicesRestricted Content

March 24, 2008
Tracy Donhardt
ITT Educational Services Inc. and other for-profit schools are facing a maelstrom of financial threats that analysts say could hurt student recruiting and profit margins--and already has driven stock prices down sharply. ITT shares are off 61 percent since hitting an all-time high of $131.82 in November.
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ITT's youthful CEO has large shoes to fillRestricted Content

June 4, 2007
Tracy Donhardt
Kevin Modany, CEO of ITT Educational Services Inc., carries an iPod and downloads drum solo videos from YouTube. But when Modany, a young-looking 40-year-old, talks about ITT's 35-percent increase in first-quarter profit, he comes across as savvy and confident of his ability to take the post-secondary education provider to even greater heights.
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U of I dean under fire from within departmentRestricted Content

December 25, 2006
Chris O'Malley
Two years after Michael Shapiro was hired as dean of the business school at the University of Indianapolis, three current and three former U of I professors have filed a grievance against Shapiro, alleging that he has created a hostile work environment.
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