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Election rewards for-profit schools (except Bridgepoint)

Stock plunges almost 10 percent on poor results

Prior to Tuesday's election, some Wall Street analysts named industries that would gain from a Republican victory. For-profit universities were among them. Yesterday (November 5), stocks of some for-profits rose stoutly: Strayer, up 3.33 percent; DeVry, up 1.55 percent; and Apollo, up 0.59 percent, for example.

But San Diego-based Bridgepoint, which has been under state and federal investigations, plunged 9.87 percent. The company reported that its third quarter revenue was $162.7 million, down from $182.8 million for the same quarter a year ago. Net income more than halved — to $6.3 million from $14.2 million. Enrollment dropped to 59,552 from 68,556 a year earlier. The company laid off 223 workers on Monday, November 3. The company missed analysts' revenue estimates but beat earnings-per-share estimates.

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Prior to Tuesday's election, some Wall Street analysts named industries that would gain from a Republican victory. For-profit universities were among them. Yesterday (November 5), stocks of some for-profits rose stoutly: Strayer, up 3.33 percent; DeVry, up 1.55 percent; and Apollo, up 0.59 percent, for example.

But San Diego-based Bridgepoint, which has been under state and federal investigations, plunged 9.87 percent. The company reported that its third quarter revenue was $162.7 million, down from $182.8 million for the same quarter a year ago. Net income more than halved — to $6.3 million from $14.2 million. Enrollment dropped to 59,552 from 68,556 a year earlier. The company laid off 223 workers on Monday, November 3. The company missed analysts' revenue estimates but beat earnings-per-share estimates.

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10

I am so glad that the Republicans are in control. I can't wait for 2016 when we will have a Republican president! 2016 will be the year that we can begin to undue the ACA, privatize Social Security, eliminate Medicare & Medicade, roll back worker rights, roll back minimum wage, eliminate collective bargaining rights for public employees and teachers, eliminate defined benefit pension plans, increase incentives to export jobs, close the border (except for maintaining the supply of illegal workers), send our troupes back to the Middle East, privative the VA, privatize education, eliminate tax deductions for middle income workers. If you think I am kidding the just look at the South: High poverty, high uninsured, high poverty, low education, low wages, no benefits, low home ownership. The Republicans do not believe in social safety nets or decent wages and benefits or unions. and they sure don't believe in women's health choices. The destruction of the middle class is their goal. Only the rich count the rest are surfs.

Nov. 6, 2014

AlexClarke: That is a pessimistic view, but you have hit on many truths. One thing that concerns me is that the head of the Senate committee that oversees science will be an Oklahoma oaf who does not believe in climate change -- indeed, thinks it is a hoax. Will any proposed legislation on this critical topic get out of committee and on to the floor? Doubt it.

There will be opposition to some of the Republican moves. Remember that George W. Bush tried to privatize Social Security and got knocked down. I don't think Medicare could be eliminated. Remember those Tea Partiers with their signs opposing Obamacare, saying, "Don't touch my Medicare!" Many if not most didn't even know it was a government program. I would expect Medicaid will be cut back even more than it has been, and that is a shame. Ditto food stamps. Obamacare will be hit, but I don't think it can be eliminated. Too many people are benefiting from it now. Yes, immigration reform will probably be thwarted.

It seems clear that the Republicans will want tax cuts for corporations and the rich. They will argue such cuts will create jobs. Nonsense. Trickle-down economics has never worked anywhere in any society.

This election greatly is a result of Citizens United, the worst decision in the history of the Supreme Court. The election was bought. And now it can't be unbought with Congress in control of Republicans and Tea Partiers. Best, Don Bauder

Nov. 6, 2014

It has to be asked, what happened to the Democrats? Where did they motivate the base and who exactly is that base?

I've was a Democrat for most of my life. My first vote was cast for George McGovern in 72 and continued up during the 2008 election when I sent candidate Obama money and voted for him. I've chaired a union political action committee and worked on campaigns.

Then came the 2008-2010 Democratic controlled congress, both houses, and a Democratic President and what did we get? A Heritage Foundation health care plan. Does it get coverage to people who didn't have it before? Yes but compared to single payer national health care it's a capitalist dream. Forced to purchase health care coverage from for profit health care insurers the Supreme Court called it a tax.

Single payer, call it Medicare for All, would have been just an expansion of the current system for seniors. An already approved by the courts health care system. But they didn't do that. A tragic waste of an opportunity that may not come again.

If they had done this it would have ensured their reelection for a generation. Just like Social Security did back in the 30's.

Nov. 6, 2014

MichaelValentine: I agree that single payer system -- Medicare for all -- would have been better. But the insurance lobbies, and other lobbies, got in the way. I see no way a single payer system would have gotten through Congress. The nation is not ready for that. Best, Don Bauder

Nov. 6, 2014

And that's where strong leadership from Obama could have rallied the Democratic base and the Democratic Congress. We were ready for a transformative president after the eight dark years of Bush/Cheney and the support would have been there. But they never even tried.

Would it have been easy? No, but that's what leadership is all about and it would have been worth the fight. Let's face it Obama's poor rating has almost as much to do with disappointed former supporters (like me) as with reactionary Republicans.

Then there is the Democrats' proclivity for neoliberal trade agreements, NAFTA and TPP, which of course is another bag of cats altogether that I just don't understand.

Nov. 6, 2014

MichaelValentine: The Democrats are in a corner. Thanks to Citizens United, big money pours into the Republicans. Tuesday's election proved that minimum wage is a perfect issue for Democrats to push. But they might lose a lot of big donations if they promoted it. Now, the Democrats are able to raise about as much as Republicans, even with the Koch brothers bucks around. But as labor unions get even weaker, it will be difficult.

Another issue the Democrats should ride is easy money. There are Republicans who want the Fed to tighten up. That would hurt the stock and bond markets. So Democrats should trumpet easy money and collect more from Wall Street. Best, Don Bauder

Nov. 6, 2014

Democrats are in a corner because they haven't done anything for the poor lately and the middle class has been destroyed, their base. The people who stayed home in droves on election day.

That easy money from Wall Street comes at a step price.

Democrats couldn't look the public in the face and say that there had been justice done for the fiscal crimes of Wall Street and the bankers but instead confirmed a two tier justice system. Too big to fail and too big to jail. Here in America where we swear allegiance in a land with liberty and justice for all. They've given lie to one of the basic values that I've been sold my entire life.

Nov. 7, 2014

BRIDGEPOINT DROPS AGAIN. Stock of Bridgepoint Education took another beating today (November 6), ending the day down 4.63 percent, following the big selloff of November 5. The stock closed November 4 at $12.46 and today closed at $10.71. Best, Don Bauder

Nov. 6, 2014

BRIDGEPOINT BOUNCES BACK FRIDAY. Bridgepoint Education stock staged a comeback Friday, November 7, rising 3.27 percent to $11.06. However, that's still well down from the November 4 closing of $12.46. Best, Don Bauder

Nov. 8, 2014

Art Institute, a priceless cultural asset of Goldman Sachs, is headed for the bloody, not painterly, canvas. Pummeled by shareholder suits and federal fraud investigations, it takes a dive from a 52 week high of $13 to less than a buck. Ow.

Nov. 12, 2014

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