David Tsao

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    • A Second Look at Educational Services and Student Lending Problems
      CECO is the one that may fall by the way side. I'll be spending the next few days going over Strayer and DeVry's offerings with repect to healthcare (nursing) as this area of the employment market should bloom with baby boomer generation heading into retirement (need for healthcare, etc.)

      I don't buy the story that technology education will slow because of the offshoring to India/China/Eastern Europe. Fortune 500 companies will soon realize that there is a need for engineers on both sides of the ocean, and that bottom line billable hour costs are not the only thing CFO's and CIO's should focus on.

      This may spell some softness for tech education programs, but things will turn around.
      Mar 31 15:06 pm |Rating: 0 0 |Link to Comment |View article
    • ITT Educational Services Offers an Investment for the Future
      Nice analysis. What do you make of the recent problems with FFEL (Title IV) lenders suspending loans? I was trying to dig for more information regarding how much FFEL exposure there was for ESI, DV, STRA CECO, and APOL. Some of the companies have broken out their Title IV base as a percentage of revenues, but it's not readily available. I'll currently focusing on DV and STRA at the moment, as I ruled ESI out even in light of your analysis here due to their high exposure to private loans.

      I think another angle to look at this is what pool of FFEL lenders are available to these schools and how many of them will be exiting the gates like Brazos did a few days ago. How fast can ESI, APOL, and the like fill this gap if lenders were to leave?
      Mar 31 06:53 am |Rating: 0 0 |Link to Comment |View article

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