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18	member 3/10/11 4:43PM BPI Response
http://bpitransparency.com/ view available tags
17	member 3/10/11 10:51AM Lenthy article...includes some video
http://www.huffingtonpost.com/2011/03/09/ashford-university-for-profit-college_n_833735.html view available tags
16	member 3/08/11 3:01PM RE: BPI not going to show up Thursday? 14
What is the upside in showing up? You think that the Senators are going to change their mind? Have you ever watched a Senate hearing examining, for instance, the non-existant gasoline conspiracy that drove prices... login to read the rest view available tags
15	member 3/08/11 2:53PM RE: RE: RE: RE: BPI is a better long than a short 13
I would just say that empirically, schools have raised tuition to comply with 90/10. This is because no one wants to pay out of pocket when they don't have to. Here is APOL in their Oct... login to read the rest view available tags
14	member 3/08/11 2:01PM BPI not going to show up Thursday? 13
IR told me this morning that Andrew Clark has not yet decided if he'll attend on Thursday and his tone seemed to lean toward not attending... If this is true, conway968 and Toby24 I'm curious... login to read the rest view available tags
13	member 3/08/11 12:55PM RE: RE: RE: RE: BPI is a better long than a short 12
Toby, the 90/10 rule measures a school's sources of revenues, it doesn't measure the amount of federal loans going to students at that school. In your example, if tuition was $80 and the student borrowed... login to read the rest view available tags
12	member 3/08/11 12:20PM RE: RE: RE: BPI is a better long than a short 11
Bondo, students borrow the maximum amount of federal aid available to them, regardless of the cost of tuition. Furthermore, the institution (BPI for example) has no authority to prevent them from overborrowing and has an... login to read the rest view available tags
11	member 3/08/11 11:02AM RE: RE: BPI is a better long than a short 10
I'm not sure I follow that a 90/10 problem means that tuition CAN'T be decreased, in fact it seems like the most easily accomplished way of getting into compliance. E.g., you charge $100 tuition, $90... login to read the rest view available tags
10	member 3/07/11 10:55PM RE: BPI is a better long than a short 8
APOL can never compete with BPI on tuition price because they are wed to a brick and mortar cost structure which makes their cost to educate significantly higher than that of BPI and other purely... login to read the rest view available tags
9	member 3/07/11 6:08PM RE: BPI is a better long than a short 7
Toby24, sorry for not replying quicker. - To question 1, I do think CDRs will deteriorate as the portion of Ashford on-campus students is diluted from the cohort. The 2 year rates have trended from 4.1% in... login to read the rest view available tags
8	member 3/07/11 5:49PM RE: RE: RE: RE: BPI is a better long than a short 6
finn250, apologies for not replying sooner. You pose fair questions. - To question 1, I'd counter to you w "if BPI's offering was so great, why do so many students withdraw?" While growth is very impressive, I think it's partly a function of... login to read the rest view available tags
7	member 3/04/11 11:02AM RE: RE: RE: RE: BPI is a better long than a short 6
Thanks for the write-up. I have some questions I'm hoping you could answer. 1. Can you elaborate as to why you think their CDRs will deteriorate? From my understanding CDRs correspond to the demographic served and... login to read the rest view available tags
6	member 3/04/11 10:18AM RE: RE: RE: BPI is a better long than a short 5
Thanks for the writeup. BPI and its financial and operational history are fascinating. A few questions: 1) If BPI has such a lousy offering, why has it been able to show such spectacular growth and profitability, even in... login to read the rest view available tags
5	member 3/03/11 10:25PM RE: RE: BPI is a better long than a short 3
Tom Harkin is as much an education expert as Sarah Palin is an energy expert, but I recognize his influence and ability to create headline risk. The stats reported by Harkin are cooked. For instance,... login to read the rest view available tags
4	member 3/03/11 7:56PM RE: RE: BPI is a better long than a short 2
bondo119, thanks for the comments. I'd encourage you to re-read the section of this write-up related to the HLC changing its guidelines. HLC has been the most lax regional accreditor, a point which is well-documented... login to read the rest view available tags
3	member 3/03/11 7:39PM RE: BPI is a better long than a short 1
conway968, I appreciate your comments. However, I find it hard to believe that BPI has a "good business plan" and " a good product in a hot industry." Do you think the HELP committee is having a... login to read the rest view available tags
2	member 3/03/11 6:43PM RE: BPI is a better long than a short 1
One problem with the loss of accreditation argument is that, unless the feds step in to regulate all the accreditors, then there is always going to be someone willing to accredit these schools, even if... login to read the rest view available tags
1	member 3/03/11 6:11PM BPI is a better long than a short
Company has $5 of cash per share and has sand-bagged earnings guidance of $2.20 per share. They have been quiet on the buyback of late, but are set to ramp it back up at anytime. ... login to read the rest view available tags

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			2023	2024
Price:	11.85	EPS	0.80	0
Shares Out. (in M):	124	P/E	14.6	0
Market Cap (in $M):	1,466	P/FCF	0	0
Net Debt (in $M):	259	EBIT	0	0
TEV (in $M):	1,725	TEV/EBIT	0	0

Description

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Sign up for free guest access to view investment ideas with a 45-day delay and read the full report. Log in to read the full report.

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