ITT Educational Services

PROXY CORNER: ITT Educational ServicesRestricted Content

March 30, 2013
Carmel-based ITT Educational Services Inc. provides technology-oriented, post-secondary education, including associate’s, bachelor’s and master’s degrees as well as non-degree programs.
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ITT Educational shares sink after SEC seeks loan documents

February 25, 2013
Bloomberg News
Shares of ITT Educational Services Inc., one of the country's largest for-profit colleges, tumbled nearly 17 percent Monday after it disclosed that U.S. regulators subpoenaed documents related to private loan programs for its students.
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CEO convinces investors that ITT is on the rebound

January 24, 2013
J.K. Wall
For a guy whose company's stock price has lost 75 percent of its value, Kevin Modany, the CEO of ITT Educational Services Inc., sounds pretty upbeat. And it seemed to rub off on investors Thursday.
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ITT suffers tough quarter on enrollment drop, loan losses

January 24, 2013
J.K. Wall
ITT Educational Services Inc. shares swooned Thursday morning after the private educator reported sinking revenue and a $9.5 million loss in the fourth quarter. But the stock rebounded strongly later Thursday.
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ITT agrees to pay Sallie Mae $46M to settle suit

January 7, 2013
Scott Olson
Wall Street reacted unfavorably to the settlement Monday, as ITT shares fell as much as 22 percent, to $15 a share. Shares traded for more than $66 about 10 months ago.
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Profit tumbles 36 percent at ITT as enrollment craters

October 25, 2012
J.K. Wall
ITT Educational Services Inc. will not close any of its campuses in response to plummeting student enrollment, but it likely will spend more of its own money to give scholarships to students, company officials said Thursday.
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New student-loan effort adding to ITT backlashRestricted Content

August 11, 2012
Greg Andrews
For-profit school operator ITT Educational Services Inc. told investors late last month that it had worked out a tentative deal with an outside party that would provide $100 million in loans to its students.
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Democratic report blasts for-profit colleges; ITT stock sinks

July 30, 2012
Bloomberg News, Associated Press
For-profit colleges put revenues above education, and charge students high tuition and loan rates that could leave them in debt for years, a Senate Democratic report said Monday. Stock in for-profit colleges tumbled after the report.
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ITT stock sinks after profit plunges 42 percent

July 26, 2012
J.K. Wall
ITT Educational Services Inc.'s stock took a licking Thursday after its quarterly earnings report badly missed expectations of Wall Street analysts.
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Largest Indiana public companies mostly fared well in 2011Restricted Content

June 16, 2012
Performance varied widely as industries ebbed, flowed.
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Profit plummets at ITT Educational, but tops analyst expectations

April 26, 2012
J.K. Wall
First-quarter profit and revenue plunged at Carmel-based ITT Educational Services Inc. as enrollment of new students declined for the seventh straight quarter.
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Judge slaps down attorneys behind ITT fraud lawsuitRestricted Content

April 21, 2012
Greg Andrews
Judge Tanya Walton Pratt late last month granted ITT’s motion for attorney’s fees and sanctions against Mississippi attorney Timothy Matusheski, as well as two law firms that worked with him on the case—Motley Rice LLC in Los Angeles and Plews Shadley Racher & Braun LLP in Indianapolis.
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Colleges could be banned from using tax funds for marketing

April 19, 2012
Bloomberg News
For-profit U.S. colleges, including Carmel-based ITT Educational Services Inc., would be barred from spending federal taxpayer money on advertising, marketing and recruiting under a Senate bill targeting the education-based businesses.
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For-profit colleges lose incentive to target vets under bills

February 16, 2012
Bloomberg News
For-profit college operators such as Carmel-based ITT Educational Services Inc.would lose a financial incentive to enroll soldiers and veterans under U.S. Senate and House bills aimed at curbing what sponsors call aggressive marketing of subpar programs.
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ITT Educational's profit plunges, but tops analyst expectations

January 26, 2012
J.K. Wall
The Carmel-based operator of for-profit colleges earned $76 million in the quarter compared with $97.5 million in the same quarter of 2010. Revenue fell 10 percent.
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For-profit colleges face curbs on aid in new veterans bill

January 23, 2012
For-profit colleges like Carmel-based ITT Educational Services would be forced to rely less on federal money under a bill aimed at curbing the marketing of degrees to soldiers and veterans.
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ITT Educational’s enrollment, profit fall again

October 20, 2011
The Carmel-based operator of for-profit colleges posted a 27.8-percent drop in earnings while new-student enrollment fell 14.1 percent.
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U.S. student-loan default rates jump sharply

September 13, 2011
Associated Press
The national two-year default rate rose to 8.8 percent last year, from 7 percent in fiscal 2008, according to the Department of Education. Driving the increase was an especially sharp increase among students who borrow from the government to attend for-profit colleges.
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ITT Educational continues enrollment, profit slide

July 21, 2011
 IBJ Staff
In the second quarter, the Carmel-based operator of for-profit colleges saw enrollment drop 19.9 percent and profit sink 17.7 percent. But the company posted strong earnings per share by continuing to buy back shares.
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ITT Educational's stock price leaps as feds ease crackdown

June 2, 2011
 IBJ Staff and Bloomberg News
The Obama administration gave for-profit colleges more time to comply with rules that will cut off federal aid to institutions whose students struggle the most to repay their government loans.
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Firms' faith in stock buybacks not always well-placedRestricted Content

May 7, 2011
Greg Andrews
The ultimate test of whether buybacks are good deals for shareholders hinges on whether the price paid for the stock proves over time to have been a bargain or inflated.
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Enrollment, profit fall at ITT Educational

April 21, 2011
J.K. Wall
The Carmel-based operator of for-profit colleges earned $85.4 million in the three months ended March 31, a 2.4-percent decline from the same quarter a year ago.
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Shares of embattled ITT may not have hit bottomRestricted Content

April 16, 2011
Greg Andrews
Some analysts believe the thrashing ITT investors have taken since the federal government unveiled a tougher regulatory scheme for for-profit schools a year ago is only the start.
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PROXY CORNER: ITT Educational Services Inc.

April 2, 2011
 IBJ Staff
Carmel-based ITT Educational Services Inc. provides technology-oriented, post-secondary education, including associate’s, bachelor’s and master’s degrees as well as non-degree programs.
More

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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  1. The east side does have potential...and I have always thought Washington Scare should become an outlet mall. Anyone remember how popular Eastgate was? Well, Indy has no outlet malls, we have to go to Edinburgh for the deep discounts and I don't understand why. Jim is right. We need a few good eastsiders interested in actually making some noise and trying to change the commerce, culture and stereotypes of the East side. Irvington is very progressive and making great strides, why can't the far east side ride on their coat tails to make some changes?

  2. Boston.com has an article from 2010 where they talk about how Interactions moved to Massachusetts in the year prior. http://www.boston.com/business/technology/innoeco/2010/07/interactions_banks_63_million.html The article includes a link back to that Inside Indiana Business press release I linked to earlier, snarkily noting, "Guess this 2006 plan to create 200-plus new jobs in Indiana didn't exactly work out."

  3. I live on the east side and I have read all your comments. a local paper just did an article on Washington square mall with just as many comments and concerns. I am not sure if they are still around, but there was an east side coalition with good intentions to do good things on the east side. And there is a facebook post that called my eastside indy with many old members of the eastside who voice concerns about the east side of the city. We need to come together and not just complain and moan, but come up with actual concrete solutions, because what Dal said is very very true- the eastside could be a goldmine in the right hands. But if anyone is going damn, and change things, it is us eastside residents

  4. Please go back re-read your economics text book and the fine print on the February 2014 CBO report. A minimum wage increase has never resulted in a net job loss...

  5. The GOP at the Statehouse is more interested in PR to keep their majority, than using it to get anything good actually done. The State continues its downward spiral.

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