Friday, December 18, 2009

2nd UPDATE: Career Education Falls On US Accreditation Memo - WSJ.com


2nd UPDATE: Career Education Falls On US Accreditation Memo - WSJ.com:

"NEW YORK (Dow Jones)--Shares of Career Education Corp. (CECO) fell sharply Thursday afternoon as a government memo questioned the accreditation of one of the for-profit education company's schools.

The memo also raised concerns about the Higher Learning Commission of the North Central Association of Colleges and Schools, a leading accrediting body for many for-profit universities, sending shares of the education sector lower Thursday.

The U.S. Department of Education's office of inspector general sent a memo to the office of postsecondary education, dated Thursday, with concerns about how Career Education's American InterContinental University was accredited."