Educational Management Corporation: for-profit disaster school may give up the ghost
featured pciture of former Senator from Maine, Olympia Snowe and formerMaine Gov. John McKernan, Snowes husband
Education Management Corporation (“EDMC”) is a Goldman Sachs operation, extracting as much from the working class as they possibly can. The stock has dropped nearly 60% in th last four months as enrollements drop (and consumers learn more about the fraud perpetuated by these schools).
As I wrote last year, in March regarding Olympia Snowe, former Senator from Maine::
“Snowe’s announcement she will not seek another term in the Senate may have little to do with “civility” or “loss of the center” within contentious politics and more to do with the fact her husband is knee-deep in controversy over an educational for-profit college chain know as Educational Management Corporation or Wall Street ticker (EDMC).
Snowe’s husband is former Maine Gov. John McKernan, and he is currently the chairman of the board of directors of EDMC and former CEO of what is the second-largest owner of for-profit colleges in the country.
The for-profit educational retail chain has been sued by the Justice Department
