ITT Technical Institute

ITT Educational, rivals wrestle with tougher regulation

July 7, 2014
Bloomberg News
The U.S. Education Department has taken its toughest regulatory action ever against a for-profit college: putting Corinthian Colleges Inc., with more than 70,000 students, on the path to going out of business.
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With heat on company, ITT's CEO Modany swings backRestricted Content

May 10, 2014
J.K. Wall
But in an interview with IBJ, ITT Educational Services CEO Kevin Modany asserted that for-profit colleges are a good deal, that they produce better results than community colleges, and that they are critical for the state and nation to close the skills gap among workers.
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ITT student-loan bet stings Lilly's credit union

April 26, 2014
Chris O'Malley
A default-prone portfolio of loans to ITT Educational Services students has come back to haunt Eli Lilly Federal Credit Union, a full-service but otherwise conservative institution.
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ITT fights to stem tumbling enrollmentRestricted Content

March 16, 2013
J.K. Wall
A federal investigation and a shareholder lawsuit are the latest headwinds to threaten ITT Educational Services Inc., which is trying to reverse a precipitous decline in enrollment.
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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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Analysts: ITT's woes are likely to worsenRestricted Content

January 12, 2013
J.K. Wall
Investors have dumped the already-depressed shares of ITT Educational Services Inc. after the operator of for-profit colleges shelled out $46 million for bad private student loans it had backed to help students pay the portion of its pricey tuition that federal loans won’t cover. With fewer ITT graduates able to find jobs, the default rates on these loans has spiked.
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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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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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For-profit colleges make costly loans, report says

February 2, 2011
Bloomberg News
Companies including ITT Educational Services Inc., DeVry Inc and Career Education Corp. are making loans with “high costs” and “predatory terms,” the group said.
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UPDATE: ITT Educational profit gives shares a boost

January 20, 2011
 IBJ Staff and Bloomberg News
Shares of ITT Educational Services Inc. rose the most in a year Thursday after the for-profit educator reported a fourth-quarter profit that beat analysts’ estimates.
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ITT Educational OKs bonuses to keep managers in place

December 27, 2010
 IBJ Staff
Carmel-based ITT Educational Services Inc.’s management team will get special cash bonuses if they remain with the company until the end of June, ITT disclosed in a regulatory filing last week.
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ITT Educational, for-profit peers reaped $521M from military

December 9, 2010
Bloomberg News
Twenty for-profit colleges—led by Carmel-based ITT Educational Services—reaped $521 million in U.S. taxpayer funds in 2010 by recruiting armed-services members and veterans through misleading marketing, according to a Congressional report released Thursday.
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Proposal: Link federal aid to performance of ITT, peers

July 23, 2010
Bloomberg News
The Obama administration released a proposal that would tighten for-profit colleges’ access to federal student aid, threatening an industry that received $26.5 billion in U.S. funds last year. Carmel-based ITT Educational Services is among those potentially affected.
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Senator: For-profit colleges require tougher oversight

June 24, 2010
Bloomberg News
For-profit colleges like ITT Technical Institutes need tougher oversight and regulation, according to a report from a Democratic Senate committee chairman that questions the industry’s advertising spending, tuition costs and reliance on taxpayer money.
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New federal rules target for-profit college recruiting

June 16, 2010
Bloomberg News
The Obama administration proposed banning for-profit colleges, including Carmel-based ITT Educational Services Inc., from tying recruiters’ pay to the number of people they enroll, saying high-pressure sales tactics induced students to take out government loans they can’t afford.
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ITT Educational posts first-quarter profit, raises forecast

April 22, 2010
J.K. Wall
The Carmel-based operator of for-profit colleges pulled in profits of $85.7 million, or $2.46 per share, up nearly 44 percent from the same quarter a year ago.
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Education stocks rise as reports hint at looser rules

April 13, 2010
Bloomberg News
Shares of ITT Educational Services rose 9.6 percent Tuesday, their biggest gain in seven months.
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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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  1. Apologies for the wall of text. I promise I had this nicely formatted in paragraphs in Notepad before pasting here.

  2. I believe that is incorrect Sir, the people's tax-dollars are NOT paying for the companies investment. Without the tax-break the company would be paying an ADDITIONAL $11.1 million in taxes ON TOP of their $22.5 Million investment (Building + IT), for a total of $33.6M or a 50% tax rate. Also, the article does not specify what the total taxes were BEFORE the break. Usually such a corporate tax-break is a 'discount' not a 100% wavier of tax obligations. For sake of example lets say the original taxes added up to $30M over 10 years. $12.5M, New Building $10.0M, IT infrastructure $30.0M, Total Taxes (Example Number) == $52.5M ININ's Cost - $1.8M /10 years, Tax Break (Building) - $0.75M /10 years, Tax Break (IT Infrastructure) - $8.6M /2 years, Tax Breaks (against Hiring Commitment: 430 new jobs /2 years) == 11.5M Possible tax breaks. ININ TOTAL COST: $41M Even if you assume a 100% break, change the '30.0M' to '11.5M' and you can see the Company will be paying a minimum of $22.5, out-of-pocket for their capital-investment - NOT the tax-payers. Also note, much of this money is being spent locally in Indiana and it is creating 430 jobs in your city. I admit I'm a little unclear which tax-breaks are allocated to exactly which expenses. Clearly this is all oversimplified but I think we have both made our points! :) Sorry for the long post.

  3. Clearly, there is a lack of a basic understanding of economics. It is not up to the company to decide what to pay its workers. If companies were able to decide how much to pay their workers then why wouldn't they pay everyone minimum wage? Why choose to pay $10 or $14 when they could pay $7? The answer is that companies DO NOT decide how much to pay workers. It is the market that dictates what a worker is worth and how much they should get paid. If Lowe's chooses to pay a call center worker $7 an hour it will not be able to hire anyone for the job, because all those people will work for someone else paying the market rate of $10-$14 an hour. This forces Lowes to pay its workers that much. Not because it wants to pay them that much out of the goodness of their heart, but because it has to pay them that much in order to stay competitive and attract good workers.

  4. GOOD DAY to you I am Mr Howell Henry, a Reputable, Legitimate & an accredited money Lender. I loan money out to individuals in need of financial assistance. Do you have a bad credit or are you in need of money to pay bills? i want to use this medium to inform you that i render reliable beneficiary assistance as I'll be glad to offer you a loan at 2% interest rate to reliable individuals. Services Rendered include: *Refinance *Home Improvement *Inventor Loans *Auto Loans *Debt Consolidation *Horse Loans *Line of Credit *Second Mortgage *Business Loans *Personal Loans *International Loans. Please write back if interested. Upon Response, you'll be mailed a Loan application form to fill. (No social security and no credit check, 100% Guaranteed!) I Look forward permitting me to be of service to you. You can contact me via e-mail howellhenryloanfirm@gmail.com Yours Sincerely MR Howell Henry(MD)

  5. It is sad to see these races not have a full attendance. The Indy Car races are so much more exciting than Nascar. It seems to me the commenters here are still a little upset with Tony George from a move he made 20 years ago. It was his decision to make, not yours. He lost his position over it. But I believe the problem in all pro sports is the escalating price of admission. In todays economy, people have to pay much more for food and gas. The average fan cannot attend many events anymore. It's gotten priced out of most peoples budgets.

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