Tag Archives: Kaplan

The Dept. of Education Fires A Shot Across the Bow of the Higher Learning Commission (HLC)

December 17, 2009 – 4:33 pm

The education stocks are trading off today following the release of a memorandum from the Department of Education’s Office of Inspector General (OIG).   You can find the memorandum here.  Effectively the OIG has asked the Department of Education to review the status of the HLC and potentially “limit, suspend, or terminate HLC’s recognition by the [...]

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WPO’s 3Q09 Results, What is an Enrollment at Kaplan? COCO’s 10-Q Filing

October 30, 2009 – 4:16 pm

We wanted to address a few issues related the for-profit education sector: WPO’s 3Q09 results, a few thoughts on COCO’s 10-Q filing and a playbook for the Negotiated Rulemaking sessions (NegReg) to be held next week.
Washington Post Company is a For-Profit Education Company That Also Owns Newspaper, Cable, Magazine and Broadcasting Businesses, Please Act Accordingly…
We continue [...]

By PAA Research | Posted in For-profit Education | Also tagged , , , , , , , , , , , | Comments (2)

At Least For Now For the Bulls In For-Profit Education “It Just Doesn’t Matter”, Next Up Earnings and “NegReg”

October 14, 2009 – 8:05 pm

A hearing was held today by the House Committee on Education and Labor entitled: “Ensuring Student Eligibility Requirements for Federal Aid”.  You can find all of the details here.  The hearing was called as a result of a report released by the US Government Accountability Office (GAO), which attempted to compare the cohort default rate of [...]

By PAA Research | Posted in For-profit Education | Also tagged , , , , , , , , , | Comments (1)

Dear Mr. Buffet: About the Washington Post Company….

October 8, 2009 – 6:56 am

Please note, the following is a letter PAA Research recently sent to Warren Buffet, Chairman and CEO of Berkshire  Hathaway, Inc.. We thought our readers might find the analysis of Washington Post and Kaplan in particular interesting.  As a reminder, Washington Post is on our list of short ideas in large part due to our [...]

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A Question of Recourse – The GAO Report Might Not Have Been As Bad As Feared, but It Still Confirmed Our Short Thesis

September 22, 2009 – 8:28 am

For those of you that have followed our research since inception, you are probably intimately familiar with our concerns about the for-profit education sector.  We have been bearish on a few of the publicly traded for-profit education providers for the past few months. As a reminder, The central tenets of our investment thesis are as [...]

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Preparing for the Release of the Final FY07 Cohort Default Data – Which Stocks Could Be Impacted

September 11, 2009 – 11:10 am

On Monday or Tuesday of next week, the Department of Education will release final cohort default data for FY07.  Before we get into company specific discussions, we wanted to review how the default rate data is calculated and provide you with an outline of the timing of future release dates for cohort default rate data. 
How Cohort [...]

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