Laureate IPO still pending amid political flap, industry crackdown
Douglas L. Becker, chairman and CEO of Laureate Education, takes part on a panel during the second day of Latin America Clinton Global Initiative in Rio de Janeiro in 2013. MUST CREDIT: Photo by Dado Galdieri, Bloomberg ** Usable by BS, CT, DP, FL, HC, MC, OS, SD, CGT and CCT ** (Dado Galdieri / Bloomberg)
John Fritze and Natalie ShermanContact ReportersThe Baltimore Sun
Arrangement with Bill Clinton put Laureate in middle of presidential election.
When Baltimore-based Laureate Education decided to go public last fall, the for-profit university system had just finished a rapid expansion and was preparing to reap the benefits of its newfound global reach.
A year later, the company still hasn’t listed its stock on the market and has become ensnared in the divisive presidential contest between Hillary Clinton and Donald Trump.
The company and founder Douglas L. Becker made news this summer when tax returns released by the Clinton campaign showed that Laureate had paid former President Bill Clinton millions of dollars to serve as its honorary chairman while it was acquiring schools around the globe and Hillary Clinton was secretary of state. Continue reading
Laureate Education IPO Gets An ‘F’
Jan. 31, 2017 2:10 PM ET
Laureate Education is set for an IPO which can raise them over $550 million.
The company faces high debt in a tough industry.
Suffocating debt combined with signs of declining revenue are reasons to skip this IPO.
I wrote an article back in October of 2015 about the Laureate Education (Pending:LAUR) IPO here. While I was bearish on the company when I wrote that article not much has changed. However, since the IPO is only a couple days away I thought I would take the time to reiterate my concerns.
They Are Leveraged Continue reading
Laureate Education is inching closer to its IPO
A pair of SEC updates from the for-profit higher-ed company points to a new push toward going public.
By Stephen Babcock / REPORTER
More than a year after its first filing, Laureate Education appears set to move forward with its initial public offering (IPO).
The Harbor East-based for-profit higher-education company indicated in SEC filings in recent weeks that it is preparing to go public.
A December update to its SEC filing says the company will trade on the Nasdaq using the symbol LAUR. A second filing issued this week said it would offer 29 million shares priced between $17 and $20 per share. That would put the company’s raise at around $500 million.
Laureate, which owns for-profit universities in 25 countries, was a public company from 1993-2007. The announcement said this IPO is being offered in part to pay down its $4.2 billion in debt. Continue reading
Laureate Education launches FCPA probe into charitable donation
Jaclyn Jaeger| December 20, 2016
Laureate Education, a for-profit higher education institution, said that it is conducting an internal investigation into possible violations of the U.S. Foreign Corrupt Practices Act concerning an $18 million donation that one of its network institutions made in Turkey to a charitable foundation.
“We believed the donation was encouraged by the Turkish government to further a public project supported by the government and expected that it would enhance the position and ongoing operations of our institution in Turkey,” Laureate Education stated in a filing with the Securities and Exchange Commission.
The Clinton For-Profit College Standard
ITT’s biggest mistake was not putting Bill Clinton on the payroll.
Sept. 6, 2016
ITT Technical Institute folded on cue Tuesday after the Obama Administration issued a regulatory death warrant last month. ITT investors must be wishing they had ponied up for political protection like Laureate International Universities, the for-profit college that paid Bill Clinton $17.6 million to serve as its “honorary chancellor.”
ITT’s decision to close all of its 130 some campuses—stranding 40,000 students and 8,000 employees—comes after the Education Department barred new enrollees from tapping federal aid, delayed loan reimbursements and raised its collateral by $153 million. ITT had a mere $78 million on hand at the end of June and no way of meeting the Administration’s cash demand. Continue reading
by ANTHONY DIMAGGIO
SEPTEMBER 5, 2016
The rapid decline of the ITT for profit-college may represent a pivotal moment in modern history, as seen in rising challenges to predatory capitalism. ITT is in deep trouble, subject to numerous lawsuits, from the Securities and Exchange Commission and Consumer Finance and Protection Bureau (CFPB) for defrauding students. The con that is for-profit education is finally being exposed, and these “higher learning” institutions are increasingly recognized for their rapacious treatment of students. Within this context, the Wall Street Journal seeks to reframe the attack on ITT as the work of the big, bad government, which is committed to stifling the liberties inherent in private enterprise. Contrary to the paper’s propaganda, however, the narrative of for-profit colleges as a beleaguered David facing the onslaught of a brutal government Goliath bears little resemblance to reality. Continue reading
How ITT Tech Sold Itself To Students
‘You’re Dealing With A One-Call Close:’ How ITT Tech Sold Itself To Students
By ROWAN MOORE GERETY •
Before he moved to Miami, Waltter Teruel sold antiques and life insurance in New York. Working as a recruiter at ITT Technical Institute in Hialeah was a welcome change. “I mean, if you’re a salesperson, you have to lie through your teeth,” he said, “but in this case, it’s one of the sales where you actually don’t have to lie at some point.”
America’s Biggest Losers: The Right’s Commentariat
By Clarice Feldman June 5, 2016
It’s looking to be a long hot summer, full of violence against Trump supporters, exposure of Clinton wrongdoing, and continued loathsome behavior by the president, academics, and the media. To its shame, at this crucial juncture many of the once-respected members of the right’s commentariat are failing their readers and proving to be America’s biggest losers.
Space constraints prevent me from detailing all the wrongdoing of Hillary Clinton and her aides and allies, but here are just some turned up this week. Continue reading
Trump U Is Nothing Compared To Laureate Education
Hillary Clinton is excoriating Donald Trump over Trump University? The Clinton scandal at Laureate Education, a for- profit education chain of schools and colleges operating world-wide, including the United States is much worse. That New York Attorney General Eric Schneiderman is pursuing Trump University while ignoring CGI-University, a shady joint venture of Laureate and the Clinton Global Initiative adds insult to injury. Continue reading
Bill Clinton got $17.6M from big for-profit university while Hillary Clinton vowed ‘crackdown’ on their ‘abusive practices’
BY ADAM EDELMAN NEW YORK DAILY NEWS
Updated: Thursday, August 25, 2016, 12:18 AM
Bill Clinton accepted nearly $18 million in payments from a prominent for-profit education company, despite the fact that his wife, Democratic presidential nominee Hillary Clinton, has made criticism of such firms a cornerstone of her education policy proposals, a new report alleges.