Shiny and New: 10 Things to Anticipate in 2010
by ALONSO DOMINGUEZ SANCHEZ TERUEL
Published: Mon Mar 29, 2010
Let's face it, we live for novelty. The faint hint of new gets us off like nothing else. Be it world phenomena, fashion, architecture or a quirky gadget, we crave the forthcoming and the expectation kills us. Here are 10 anxiously anticipated gadgets, places and events arriving in 2010. We can't wait. Can you?
The Apple iPad
What: A 9.7 inch personal computer tablet, operated entirely by a touch screen
Who: Apple
When: The first generation goes on sale April 3rd
Where: www.apple.com
Why: As with all Apple products, resistance is futile.
Soho House Berlin
What: six floors, 40 rooms, three restaurants and a rooftop pool in a pre-war architectural paragon in East Berlin
Who: Soho House, www.sohohouseberlin.com
When: May 4th (announced)
Where: Torstrasse 1, Berlin
Why: A tan looks better from atop a former GDR official building.
Takashi Murakami Takes Versailles
What: An exhibit by the famed "Japanese Andy Warhol." This will be his first large-scale retrospective in France, which will be in the Hall of Mirrors and the apartments of the King and the Queen.
Who: Artist Takashi Murakami
When: 12 September - 12 December 2010
Where: Versailles, France
Why: Jeff Koons' controversial exhibit at the palace left us wanting more.
Kenmare Lands in Nolita
What: NY's restaurant du jour gives the displaced, grungy denizens of Beatrice a place to call home.
Who: Nur Khan (Rose Bar), Paul Sevigny (Beatrice Inn) and Joey Campanaro (Little Owl) are behind the counter and every A-lister in town on the tables.
When: Now
Where: 98 Kenmare Street, New York, NY
Why: Olivier Zahm, Chloe Sevigny and Anouk Lepere need a new hang out spot in New York.
Alexander McQueen's New Creative Director
What: The eagerly awaited announcement of the fashion genius successor
Who: Officially, no name yet, but unofficially, Gareth Pugh's future is looking bright indeed.
When: Soon, very soon
Where: Keep checking insider blogs
Why: Lady Gaga needs a new oufit, pronto!
Wireless Electricity
What: Exactly that, no more wires
Who: Eric Giler , CEO of WiTricity. Check out his demostration at the TED conference last year, www.ted.com.
When: Rumour has it, we should see the first hint of commercial use by the end of the year.
Where: Eventually every household in the world
Why: Wires are just ugly.
3D TV
What: 3D television, plus 3D glasses, Avatar in 3D BluRay, the works
Who: At the moment, Phillips seems to be at the head of the pack.
When: The first fully commercially 3D TVs should be available by May.
Where: China and Japan have released their own 3D TVs and the West will follow shortly.
Why: Why should geeky 3D glasses be limited to theatres alone?
Masdar City
What: The world’s first carbon neutral city
Who: The Abu Dhabi Future Energy Company (ADFEC) and Brit firm Foster & Partners
When: Possibly the end of the year. Though the completion date has been changed several times, so there are strong doubts the project will be completed as scheduled.
Where: UAE
Why: Why not?
Shanghai Comes Out
What: Shanghai’s 2010 Expo will explore the potential of urban life in the 21st century.
Who: 200 countries from around the world
When: 1 May - 31 October 2010
Where: Shanghai, China
Why: According to Shanghai's 2010 Expo website, China owes its successful bid to “the expectations the world's people place on China's future development.“
Seven Billion People
What: World population to hit seven billion
Who: You, me and billions more
When: It's predicted to happen in November, but the US will provide more accurate data after the census in April.
Where: Earth
Why: The 2012 end-of-the-world theorists need more arguments to favour their predictions.
Tuesday, May 4, 2010
Monday, May 3, 2010
College Investors Bank On Gainful Employment Rule Easing Read more: http://www.nasdaq.com/aspx/company-news-story.aspx?storyid=201003241201dowjonesdj
ollege Investors Bank On Gainful Employment Rule Easing
By Melissa Korn, Of DOW JONES NEWSWIRES
NEW YORK -(Dow Jones)- Stocks of for-profit college operators have soared in the past two months as concerns about the federal government implementing harsh regulations on the sector begin to ebb.
Whether that sense of relief is merited, however, is up for debate.
Recent comments from members of Congress, and even from the Department of Education itself, are giving investors hope that the government may soften its proposal to penalize schools whose students graduate with large loans and low- paying jobs. The issue comes under the guise of "gainful employment," which fundamentally questions how well schools prepare their students to get jobs that can cover their educational debt.
The stocks of companies such as Bridgepoint Education Inc. (BPI), Career Education Corp. (CECO) and Corinthian Colleges Inc. (COCO) initially dipped after the proposal was announced in late January. It recommended that programs whose graduates have a debt-to-income ratio above 8%, or who don't meet certain other criteria, lose access to Title IV federal financial aid - the main revenue source for the for-profit schools. Opponents say the rule could force schools to lower their prices.
The schools' stocks started rising in mid-February as short-sellers, believing no more negative news would come for months, started covering their positions. The Education Department likely will release an official proposal in June, open for public comment, and a final rule in November. Any changes won't go into effect until July 2011.
Shares have been on a tear since. Bridgepoint is up 63.8% since the rule was proposed, while Career Education has gained 42.3% and Corinthian is up 41.1%. American Public Education Inc. (APEI), Grand Canyon Education Inc. (LOPE) and others have also outpaced the market. The Russell 2000 Index is up 12.1% in that time.
Some saw a boost when Education Secretary Arne Duncan testified in front of the House Education and Labor Committee March 3 that the department is "by no means wedded to any one direction" on the rule. "We don't want to be overly heavy-handed," he said.
Four committee members, including two Democrats, expressed concerns about the proposal during the question-and-answer period.
On March 11, the Congressional Black Caucus circulated a letter for members to sign and send to Duncan noting their distaste for the rule.
But congressional disappointment might not have much impact.
"While certainly a positive step, a letter is only a letter," said Ariel Sokol, an analyst with Wedbush Securities, regarding the Congressional Black Caucus's missive. "This is not a legislative process," he added, as Congress ultimately has no say in what rule the department adopts.
Congress does have a say on the upcoming reauthorization of the Elementary and Secondary Education Act, though, which some believe could put Duncan in a tight- enough spot to make concessions to ensure passage of that bill.
"The department easing up would be a small price to pay to accommodate everyone," said Trace Urdan, a research analyst and managing director at Signal Hill Capital Group.
Harris Miller, head of the Career College Association, an industry trade group, says he has had talks with the department about the gainful-employment language. "I know from various conversations that the Department is increasingly aware of these concerns," he wrote in an email. "But whether this increased attention will divert them from their path remains to be seen."
Jeffrey M. Silber, managing director at BMO Capital Markets, agrees. He wrote in a note to investors Wednesday, "We believe nobody outside of the Department of Education has true insight into how the language has changed." He expects that the initial proposal will be watered down "a bit," but some type of debt ceiling will still be implemented.
An Education Department official said the office is working on the language and couldn't comment further.
Even if the ultimate rule is softened, some fear the schools most affected - those whose students default on their debt or who graduate into low-paying jobs - may not disclose the potential impact on their bottom line early enough. That could force the industry into another cloud of uncertainty like the one under which it hovered for much of last year as investors waited for the government to introduce the list of regulations it would seek to revise in the first place.
"Investors would be ill-informed to think that we're out of the woods, by a long shot," Sokol said.
- By Melissa Korn, Dow Jones Newswires; 212-416-2271; melissa.korn@ dowjones.com
Read more: http://www.nasdaq.com/aspx/company-news-story.aspx?storyid=201003241201dowjonesdjonline000435&title=college-investors-bank-on-gainful-employment-rule-easing#ixzz0muVcFGRi
By Melissa Korn, Of DOW JONES NEWSWIRES
NEW YORK -(Dow Jones)- Stocks of for-profit college operators have soared in the past two months as concerns about the federal government implementing harsh regulations on the sector begin to ebb.
Whether that sense of relief is merited, however, is up for debate.
Recent comments from members of Congress, and even from the Department of Education itself, are giving investors hope that the government may soften its proposal to penalize schools whose students graduate with large loans and low- paying jobs. The issue comes under the guise of "gainful employment," which fundamentally questions how well schools prepare their students to get jobs that can cover their educational debt.
The stocks of companies such as Bridgepoint Education Inc. (BPI), Career Education Corp. (CECO) and Corinthian Colleges Inc. (COCO) initially dipped after the proposal was announced in late January. It recommended that programs whose graduates have a debt-to-income ratio above 8%, or who don't meet certain other criteria, lose access to Title IV federal financial aid - the main revenue source for the for-profit schools. Opponents say the rule could force schools to lower their prices.
The schools' stocks started rising in mid-February as short-sellers, believing no more negative news would come for months, started covering their positions. The Education Department likely will release an official proposal in June, open for public comment, and a final rule in November. Any changes won't go into effect until July 2011.
Shares have been on a tear since. Bridgepoint is up 63.8% since the rule was proposed, while Career Education has gained 42.3% and Corinthian is up 41.1%. American Public Education Inc. (APEI), Grand Canyon Education Inc. (LOPE) and others have also outpaced the market. The Russell 2000 Index is up 12.1% in that time.
Some saw a boost when Education Secretary Arne Duncan testified in front of the House Education and Labor Committee March 3 that the department is "by no means wedded to any one direction" on the rule. "We don't want to be overly heavy-handed," he said.
Four committee members, including two Democrats, expressed concerns about the proposal during the question-and-answer period.
On March 11, the Congressional Black Caucus circulated a letter for members to sign and send to Duncan noting their distaste for the rule.
But congressional disappointment might not have much impact.
"While certainly a positive step, a letter is only a letter," said Ariel Sokol, an analyst with Wedbush Securities, regarding the Congressional Black Caucus's missive. "This is not a legislative process," he added, as Congress ultimately has no say in what rule the department adopts.
Congress does have a say on the upcoming reauthorization of the Elementary and Secondary Education Act, though, which some believe could put Duncan in a tight- enough spot to make concessions to ensure passage of that bill.
"The department easing up would be a small price to pay to accommodate everyone," said Trace Urdan, a research analyst and managing director at Signal Hill Capital Group.
Harris Miller, head of the Career College Association, an industry trade group, says he has had talks with the department about the gainful-employment language. "I know from various conversations that the Department is increasingly aware of these concerns," he wrote in an email. "But whether this increased attention will divert them from their path remains to be seen."
Jeffrey M. Silber, managing director at BMO Capital Markets, agrees. He wrote in a note to investors Wednesday, "We believe nobody outside of the Department of Education has true insight into how the language has changed." He expects that the initial proposal will be watered down "a bit," but some type of debt ceiling will still be implemented.
An Education Department official said the office is working on the language and couldn't comment further.
Even if the ultimate rule is softened, some fear the schools most affected - those whose students default on their debt or who graduate into low-paying jobs - may not disclose the potential impact on their bottom line early enough. That could force the industry into another cloud of uncertainty like the one under which it hovered for much of last year as investors waited for the government to introduce the list of regulations it would seek to revise in the first place.
"Investors would be ill-informed to think that we're out of the woods, by a long shot," Sokol said.
- By Melissa Korn, Dow Jones Newswires; 212-416-2271; melissa.korn@ dowjones.com
Read more: http://www.nasdaq.com/aspx/company-news-story.aspx?storyid=201003241201dowjonesdjonline000435&title=college-investors-bank-on-gainful-employment-rule-easing#ixzz0muVcFGRi
VP Marketing/Business Development - Southwest OPEN salary + equity
Have you taken a school public? Send your qualifications and resume to hshepard@dshefrin.com
Must have a Masters Degree & experience in the Online Education Marketing & New Business Development arena.
Experience: 10+ years
Salary is OPEN - may be potential for equity.
This is in the Southwest for a Reg Accredited online institution
Must have a Masters Degree & experience in the Online Education Marketing & New Business Development arena.
Experience: 10+ years
Salary is OPEN - may be potential for equity.
This is in the Southwest for a Reg Accredited online institution
Tuesday, April 27, 2010
Candidate Care in a Down Economy
Candidate Care in a Down Economy
Are you recruiting ‘Passive’ Candidates as if they were ‘Active’?
I had a recent conversation with a very frustrated hiring executive: The conversation resurfaced some ‘best practices’ around recruiting quality talent.
He was frustrated with the current recruitment efforts on critical to fill positions in his department. While they had gone through great lengths to deploy a sourcing strategy to drive quality, passive talent into the recruitment process, the vast majority of candidates they were interested in were “bailing” out of the process.
Pondering the situation, I asked a few simple questions to try and identify the root cause of the defects
1.How are you engaging candidates into the process?
2.How quickly are you engaging candidates into the process?
3.Who are they meeting with on their first visit?
4.Where are they meeting?
5.Does the candidate fully understand the next steps after their first meeting?
The answers I received from the recruiter/hiring manager might not surprise you:
1.“Well we have them go through the normal process. If they are interested, we ask them to go online to register in our system”.
2.“Once they hit the system, the recruiter is calling them within 24 hours – - hopefully – - to do a pre-screen with them.”
3.“We like to have them come into the office and meet with the recruiter first – - then meet with the hiring manager. Ideally, we like to get a slate of candidates to come in and interview all the same day/afternoon. It is much more convenient for the hiring managers.”
4.“Ideally – the office. It makes it easier for us.”
5.“We let them know that we are interviewing several candidates and will have feedback within 3-5 business days.”
I think you know were I am going with this!
So after listening to his answers, I reflected and responded:
“So your managers are requesting the recruitment team to find the highest quality (often passive) talent possible but . . . you want the passive candidates to engage on your TERMS?
•Fill out paperwork before I will talk to you
•Come to my office
•Sit in lobby with other candidates
•Wait for a response
I don’t know about you folks, but if the University of Alabama used these technique to ‘recruit’ the most talented football players – - I bet they would not have won the national title last year!
While I don’t want to make light of this situation, I find this dilemma within hundreds of companies throughout the country. Simply put:
They are trying to recruit quality, ‘Passive’ candidates with their ‘Active’ candidate process.
Organizations that excel in recruiting top talent, take a holistically different approach to the passive candidate recruitment efforts.
Some Best Practices
1. How are you engaging candidates into the process?
Once the recruiter makes contact with a top prospect and does a preliminary pre-qualification (hopefully on the same call), they immediately seek to set up a “cup of coffee” meeting with a dynamic hiring manager. No initial paper work. We can take care of that later. No resume? No problem, lets just meet and have an exploratory conversation.
2. How quickly are you engaging candidates into the process?
Immediately (as outlined above)! I have worked with hiring managers that literally say – - if you get a top notch person on the phone, I will meet anywhere, anytime.
3. Who are they meeting with on their first visit?
While I am not saying they shouldn’t meet with a recruiter on the first visit, the quicker you get them connected with a dynamic hiring manager the better. From experience, it is much easier to engage a talented professional to have a “confidential, exploratory discussion over a cup of coffee” if for nothing else – - to network VERSUS – getting them to come for an interview with a recruiter!
4. Where are they meeting?
When you are not looking for a job, the last thing you would want is people to THINK you are looking. Coming to a competitors office for a visit – - in this day and age of LinkedIn, Facebook, etc. – - is very risky at best. And to ask them to sit in the lobby with other “candidates” is disrespectful in my book.
5. Does the candidate fully understand the next steps after the first meeting?
If you meet someone and like them, you should recruit that person. What is wrong with showing your excitement for taking the next steps – ask them their availability to meet with a key executive – - BEFORE you leave that first meeting? I am not implying an offer? I am just showing sincere excitement about moving forward and keeping the positive momentum during our courtship!
These are simple best practices I have seen successfully deployed by organizations that don’t fall into the trap of trying to recruit quality, ‘Passive’ candidates with their ‘Active’ candidate process.
If you find yourself in this dilemma, please share this with your hiring managers )
http://www.leanhumancapital.com/blog/2010/02/10/are-you-recruiting-passive-candidates-as-if-they-were-active/
Are you recruiting ‘Passive’ Candidates as if they were ‘Active’?
I had a recent conversation with a very frustrated hiring executive: The conversation resurfaced some ‘best practices’ around recruiting quality talent.
He was frustrated with the current recruitment efforts on critical to fill positions in his department. While they had gone through great lengths to deploy a sourcing strategy to drive quality, passive talent into the recruitment process, the vast majority of candidates they were interested in were “bailing” out of the process.
Pondering the situation, I asked a few simple questions to try and identify the root cause of the defects
1.How are you engaging candidates into the process?
2.How quickly are you engaging candidates into the process?
3.Who are they meeting with on their first visit?
4.Where are they meeting?
5.Does the candidate fully understand the next steps after their first meeting?
The answers I received from the recruiter/hiring manager might not surprise you:
1.“Well we have them go through the normal process. If they are interested, we ask them to go online to register in our system”.
2.“Once they hit the system, the recruiter is calling them within 24 hours – - hopefully – - to do a pre-screen with them.”
3.“We like to have them come into the office and meet with the recruiter first – - then meet with the hiring manager. Ideally, we like to get a slate of candidates to come in and interview all the same day/afternoon. It is much more convenient for the hiring managers.”
4.“Ideally – the office. It makes it easier for us.”
5.“We let them know that we are interviewing several candidates and will have feedback within 3-5 business days.”
I think you know were I am going with this!
So after listening to his answers, I reflected and responded:
“So your managers are requesting the recruitment team to find the highest quality (often passive) talent possible but . . . you want the passive candidates to engage on your TERMS?
•Fill out paperwork before I will talk to you
•Come to my office
•Sit in lobby with other candidates
•Wait for a response
I don’t know about you folks, but if the University of Alabama used these technique to ‘recruit’ the most talented football players – - I bet they would not have won the national title last year!
While I don’t want to make light of this situation, I find this dilemma within hundreds of companies throughout the country. Simply put:
They are trying to recruit quality, ‘Passive’ candidates with their ‘Active’ candidate process.
Organizations that excel in recruiting top talent, take a holistically different approach to the passive candidate recruitment efforts.
Some Best Practices
1. How are you engaging candidates into the process?
Once the recruiter makes contact with a top prospect and does a preliminary pre-qualification (hopefully on the same call), they immediately seek to set up a “cup of coffee” meeting with a dynamic hiring manager. No initial paper work. We can take care of that later. No resume? No problem, lets just meet and have an exploratory conversation.
2. How quickly are you engaging candidates into the process?
Immediately (as outlined above)! I have worked with hiring managers that literally say – - if you get a top notch person on the phone, I will meet anywhere, anytime.
3. Who are they meeting with on their first visit?
While I am not saying they shouldn’t meet with a recruiter on the first visit, the quicker you get them connected with a dynamic hiring manager the better. From experience, it is much easier to engage a talented professional to have a “confidential, exploratory discussion over a cup of coffee” if for nothing else – - to network VERSUS – getting them to come for an interview with a recruiter!
4. Where are they meeting?
When you are not looking for a job, the last thing you would want is people to THINK you are looking. Coming to a competitors office for a visit – - in this day and age of LinkedIn, Facebook, etc. – - is very risky at best. And to ask them to sit in the lobby with other “candidates” is disrespectful in my book.
5. Does the candidate fully understand the next steps after the first meeting?
If you meet someone and like them, you should recruit that person. What is wrong with showing your excitement for taking the next steps – ask them their availability to meet with a key executive – - BEFORE you leave that first meeting? I am not implying an offer? I am just showing sincere excitement about moving forward and keeping the positive momentum during our courtship!
These are simple best practices I have seen successfully deployed by organizations that don’t fall into the trap of trying to recruit quality, ‘Passive’ candidates with their ‘Active’ candidate process.
If you find yourself in this dilemma, please share this with your hiring managers )
http://www.leanhumancapital.com/blog/2010/02/10/are-you-recruiting-passive-candidates-as-if-they-were-active/
For-Profit Education Stocks Slide Even As Enrollment Gains
For-Profit Education Stocks Slide Even As Enrollment Gains
By Caitlin Nish
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--Shares of for-profit education companies tumbled Friday even as quarterly results have shown enrollment continues to be strong.
Educators have seen earnings soar during the recession as high unemployment has pushed people to seek new skills and education. DeVry Inc. (DV) late Thursday said its fiscal third-quarter profit surged 60% on a 26% rise in total student enrollment, while ITT Educational Services Inc.'s (ESI) first-quarter profit rose by nearly half as total enrollment climbed 29%. But investors are wary about growth slowing as employment numbers improve.
Shares in the sector were also lower Thursday on a third-party study released by the Career College Association showing for-profit schools would be hit hard by the "gainful employment" recommendation that's part of proposed regulatory reform. Education stocks have been volatile over the past several months as the federal government continues to discuss new regulations for the higher education industry.
ITT's shares were recently down 1.7% to $110.83, while DeVry's were off 7.4% to $68.78.
As for the latest quarterly results, Signal Hill analysts said in a note, "We could not have scripted a better quarter for ITT. But signs of the advancing deceleration are creeping in as well."
The firm added that it was encouraged by ITT management's candid acknowledgement of the pressure it will face from an improving job market and its belief that it can achieve a "soft landing, decelerating gradually to high single-digit enrollment growth."
While noting that DeVry had a "fantastic" third-quarter, Wedbush said in a note Friday that the stock is likely trading lower due to execution snafus but more importantly, comments about the negative impact of an improving economy.
Also pressured were Corinthian Colleges Inc. (COCO), down 5% to $17.79, and Apollo Group Inc. (APOL), 2.9% lower at $62.98. Career Education Corp. (CECO) was off 2.2% to $34.13.
Still, Wedbush added that the key near-term driver for DeVry's stock "remains the outcome of the regulatory process."
The U.S. Department of Education is working on a "gainful employment" measure to make schools more accountable for graduating students with high debt-to-income ratios.
The study released by Career College Association said the proposal would displace hundreds of thousands of students as their programs close and could block more than 5 million students from the schools by 2020.
The department is expected to release a version of the proposals for public comment by mid-June.
-By Caitlin Nish, Dow Jones Newswires; 212-416-2076; caitlin.nish@dowjones.com
By Caitlin Nish
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--Shares of for-profit education companies tumbled Friday even as quarterly results have shown enrollment continues to be strong.
Educators have seen earnings soar during the recession as high unemployment has pushed people to seek new skills and education. DeVry Inc. (DV) late Thursday said its fiscal third-quarter profit surged 60% on a 26% rise in total student enrollment, while ITT Educational Services Inc.'s (ESI) first-quarter profit rose by nearly half as total enrollment climbed 29%. But investors are wary about growth slowing as employment numbers improve.
Shares in the sector were also lower Thursday on a third-party study released by the Career College Association showing for-profit schools would be hit hard by the "gainful employment" recommendation that's part of proposed regulatory reform. Education stocks have been volatile over the past several months as the federal government continues to discuss new regulations for the higher education industry.
ITT's shares were recently down 1.7% to $110.83, while DeVry's were off 7.4% to $68.78.
As for the latest quarterly results, Signal Hill analysts said in a note, "We could not have scripted a better quarter for ITT. But signs of the advancing deceleration are creeping in as well."
The firm added that it was encouraged by ITT management's candid acknowledgement of the pressure it will face from an improving job market and its belief that it can achieve a "soft landing, decelerating gradually to high single-digit enrollment growth."
While noting that DeVry had a "fantastic" third-quarter, Wedbush said in a note Friday that the stock is likely trading lower due to execution snafus but more importantly, comments about the negative impact of an improving economy.
Also pressured were Corinthian Colleges Inc. (COCO), down 5% to $17.79, and Apollo Group Inc. (APOL), 2.9% lower at $62.98. Career Education Corp. (CECO) was off 2.2% to $34.13.
Still, Wedbush added that the key near-term driver for DeVry's stock "remains the outcome of the regulatory process."
The U.S. Department of Education is working on a "gainful employment" measure to make schools more accountable for graduating students with high debt-to-income ratios.
The study released by Career College Association said the proposal would displace hundreds of thousands of students as their programs close and could block more than 5 million students from the schools by 2020.
The department is expected to release a version of the proposals for public comment by mid-June.
-By Caitlin Nish, Dow Jones Newswires; 212-416-2076; caitlin.nish@dowjones.com
Capella Education 1Q profit rises 83 percent
Capella Education 1Q profit rises 83 percent
MINNEAPOLIS
For-profit school Capella Education Co. said Tuesday that its earnings rose 83 percent during the first quarter as more students enrolled, and the company boosted its outlook for 2010.
For-profit schools have had huge increases in revenue and earnings throughout the recession as students look to beef up resumes and learn new skills to compete in a weak job market.
For the three months ended March 31, the Minneapolis company earned $15.2 million, or 89 cents per share, compared with $8.3 million, or 49 cents per share, during the same period a year ago.
Revenue increased 32 percent to $101.2 million as total enrollment grew 32 percent to 37,178 students.
Analysts polled by Thomson Reuters had expected profit of 79 cents per share on revenue of $98.8 million.
Capella said it expects revenue to increase 26.5 percent to 28.5 percent in 2010, compared with a a prior forecast of 24.5 percent to 26.5 percent. That implies revenue of $423.3 million to $430 million, above Wall Street expectations of $421.8 million.
Baird analyst Amy Junker said Capella, with its emphasis on post-bachelor's degree programs, should not suffer a hit to earnings from regulatory changes proposed by the Department of Education. She raised her share price target to $125 from $114.
The Department of Education has proposed limiting graduates' student aid repayment costs to 8 percent of income. The proposal aims to ensure schools are not taking unqualified students or charging students for classes that will not help them land better-paying jobs.
Capella shares fell $58 cents to $93.87 in afternoon trading after earlier hitting a 52-week high of $95.58. The stock has ranged from $46.37 to $94.59 over the past year.
http://www.businessweek.com/ap/financialnews/D9FBJJ9G0.htm
MINNEAPOLIS
For-profit school Capella Education Co. said Tuesday that its earnings rose 83 percent during the first quarter as more students enrolled, and the company boosted its outlook for 2010.
For-profit schools have had huge increases in revenue and earnings throughout the recession as students look to beef up resumes and learn new skills to compete in a weak job market.
For the three months ended March 31, the Minneapolis company earned $15.2 million, or 89 cents per share, compared with $8.3 million, or 49 cents per share, during the same period a year ago.
Revenue increased 32 percent to $101.2 million as total enrollment grew 32 percent to 37,178 students.
Analysts polled by Thomson Reuters had expected profit of 79 cents per share on revenue of $98.8 million.
Capella said it expects revenue to increase 26.5 percent to 28.5 percent in 2010, compared with a a prior forecast of 24.5 percent to 26.5 percent. That implies revenue of $423.3 million to $430 million, above Wall Street expectations of $421.8 million.
Baird analyst Amy Junker said Capella, with its emphasis on post-bachelor's degree programs, should not suffer a hit to earnings from regulatory changes proposed by the Department of Education. She raised her share price target to $125 from $114.
The Department of Education has proposed limiting graduates' student aid repayment costs to 8 percent of income. The proposal aims to ensure schools are not taking unqualified students or charging students for classes that will not help them land better-paying jobs.
Capella shares fell $58 cents to $93.87 in afternoon trading after earlier hitting a 52-week high of $95.58. The stock has ranged from $46.37 to $94.59 over the past year.
http://www.businessweek.com/ap/financialnews/D9FBJJ9G0.htm
Tuesday, April 13, 2010
Regulatory Compliance & Gov’t Affairs Director $150K Phoenix Must be ACCSC accredited
PM for more details @hshepard@dshefrin.com
Position Summary
Provides leadership and manages Regulatory Compliance and Government Affairs functions.
Principle Accountabilities & Deliverables
• Manages the Corporate Compliance and Ethics program, including:
Counsel on issues relating to federal and state regulations and laws regarding corporate compliance programs.
Participation in and/or leadership of the Risk Assessment Team including Senior Team/Board reports related to various assessments.
Management of Code of Conduct compliance efforts and related updates
Publication of compliance brochures.
Delivery of compliance education programs required to meet Federal Sentencing Guidelines for SOX compliance.
Participates in compliance investigations and related Employee Hotline calls.
Provides training programs on various topics, including FERPA, GLBA and HIPPA, etc.
• Functions as primary Governmental Affairs liaison
Evaluates pending legislation, develops compliance strategy, and leads compliance process
Stays up to date on changing political landscape relating to post-secondary for-profit education.
Develops and maintains strong relationships on behalf of UTI with elected and appointed officials such as legislators, regulators and agency officials.
Informs and counsels Senior Leadership team regarding federal, state and legislative activity, regulatory initiatives, for profit education issues and emerging issues that could have an impact on the company.
Participates in the drafting and updating of the SEC 10K (Annual Report).
Others duties and projects as assigned.
Knowledge, Skills, & Abilities
Education / Experience
• Bachelor’s degree required
• JD preferred.
• 7-10 years direct experience in regulatory compliance, accreditation and licensing in higher education or in a highly regulated industry preferred.
Position Summary
Provides leadership and manages Regulatory Compliance and Government Affairs functions.
Principle Accountabilities & Deliverables
• Manages the Corporate Compliance and Ethics program, including:
Counsel on issues relating to federal and state regulations and laws regarding corporate compliance programs.
Participation in and/or leadership of the Risk Assessment Team including Senior Team/Board reports related to various assessments.
Management of Code of Conduct compliance efforts and related updates
Publication of compliance brochures.
Delivery of compliance education programs required to meet Federal Sentencing Guidelines for SOX compliance.
Participates in compliance investigations and related Employee Hotline calls.
Provides training programs on various topics, including FERPA, GLBA and HIPPA, etc.
• Functions as primary Governmental Affairs liaison
Evaluates pending legislation, develops compliance strategy, and leads compliance process
Stays up to date on changing political landscape relating to post-secondary for-profit education.
Develops and maintains strong relationships on behalf of UTI with elected and appointed officials such as legislators, regulators and agency officials.
Informs and counsels Senior Leadership team regarding federal, state and legislative activity, regulatory initiatives, for profit education issues and emerging issues that could have an impact on the company.
Participates in the drafting and updating of the SEC 10K (Annual Report).
Others duties and projects as assigned.
Knowledge, Skills, & Abilities
Education / Experience
• Bachelor’s degree required
• JD preferred.
• 7-10 years direct experience in regulatory compliance, accreditation and licensing in higher education or in a highly regulated industry preferred.
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