Author Topic: CRC's 10Q, Sept 2010 (They're about to give up on Aspen)  (Read 2041 times)

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Offline Pile of Dead Kids

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CRC's 10Q, Sept 2010 (They're about to give up on Aspen)
« on: November 20, 2010, 06:00:17 PM »
http://ir.10kwizard.com/filing.php?ipag ... ource=1321

Same story as the last three months. Their recovery division tries to pull them out (+$28M), but "healthy living" (-$9M) and corporate expenses (-$8M) drag them back down, and coupled with their 604 million dollars in long-term debt and its brutal interest (-$11M), the company is barely treading water.

Aspen is addressed by name in this 10Q, and they're damned:

Quote
The operations and enrollment of the Aspen programs within our healthy living division are highest in the summer months. Additionally, the Aspen programs have limited leading indicators regarding performance. As a result, we have more information in late summer and early fall around Aspenís performance, which came in below the performance levels expected in July and August 2010. At the end of the third quarter of 2010, we reviewed actual results for graduation, admissions, and average length of stay in the Aspen programs relative to its prior forecast and fiscal year budget. In response to negative results in these areas, we further lowered our view of forecasted future cash flows for the Aspen programs within our healthy living division. As a result, for the three months ended September 30, 2010, we recognized non-cash charges related to goodwill impairment and asset impairment for Aspen in the amount of $9.1 million and $2.5 million, respectively. For the nine months ended September 30, 2010, we had recognized non-cash charges related to goodwill and asset impairment of $52.7 million and $20.5 million, respectively, for the healthy living division including Aspen.

This is the sound of a business considering dropping them like a lead brick.
« Last Edit: December 31, 1969, 07:00:00 PM by Guest »
...Sergey Blashchishen, James Shirey, Faith Finley, Katherine Rice, Ashlie Bunch, Brendan Blum, Caleb Jensen, Alex Cullinane, Rocco Magliozzi, Elisa Santry, Dillon Peak, Natalynndria Slim, Lenny Ortega, Angellika Arndt, Joey Aletriz, Martin Anderson, James White, Christening Garcia, Kasey Warner, Shirley Arciszewski, Linda Harris, Travis Parker, Omega Leach, Denis Maltez, Kevin Christie, Karlye Newman, Richard DeMaar, Alexis Richie, Shanice Nibbs, Levi Snyder, Natasha Newman, Gracie James, Michael Owens, Carlton Thomas, Taylor Mangham, Carnez Boone, Benjamin Lolley, Jessica Bradford's unnamed baby, Anthony Parker, Dysheka Streeter, Corey Foster, Joseph Winters, Bruce Staeger, Kenneth Barkley, Khalil Todd, Alec Lansing, Cristian Cuellar-Gonzales, Janaia Barnhart, a DRA victim who never even showed up in the news, and yet another unnamed girl at Summit School...

Offline Troll Control

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Re: CRC's 10Q, Sept 2010 (They're about to give up on Aspen)
« Reply #1 on: November 30, 2010, 12:55:41 PM »
That sound you hear is Aspen Education circling the toilet drain.
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Offline Anne Bonney

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Re: CRC's 10Q, Sept 2010 (They're about to give up on Aspen)
« Reply #2 on: November 30, 2010, 02:34:27 PM »
Quote from: "Troll Control"
That sound you hear is Aspen Education circling the toilet drain.


Couldn't happen to a more deserving shithole.
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Offline Whooter

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Re: CRC's 10Q, Sept 2010 (They're about to give up on Aspen)
« Reply #3 on: November 30, 2010, 03:15:16 PM »
I think it would be great if Aspen could break away from CRC and maybe find some investors who will put more money towards expansion.



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Offline Troll Control

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Re: CRC's 10Q, Sept 2010 (They're about to give up on Aspen)
« Reply #4 on: November 30, 2010, 03:30:59 PM »
It would be great if it just went under and wasn't able to continue sytematically abusing children like so many of its facilities have been found to do.  Several Aspen programs have been shut down by Johnny Law for abusing and even killing kids.  It's only a matter of time before it dies off.

My sources were dead on over a year ago when I was informed Aspen was being shopped.  I hope they don't find a buyer and just deep-six those shitholes.
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Offline Whooter

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Re: CRC's 10Q, Sept 2010 (They're about to give up on Aspen)
« Reply #5 on: November 30, 2010, 04:02:05 PM »
All businesses are for sale if you come up with the right price.  Its seems we all agree that Aspen being shopped around is a good thing.  Every time a new group of investors takes over they pump in a new supply of cash and make improvements.
Its a win-win for everyone.



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Offline Pile of Dead Kids

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Re: CRC's 10Q, Sept 2010 (They're about to give up on Aspen)
« Reply #6 on: December 01, 2010, 03:08:38 AM »
C'mon Whooter, your spin machine's obviously getting rusty. Nothing about "it's the economy"? Or "They're trimming down"?

There's not going to be any new investors, not for the Aspen mess as a whole. The only real risk is that someone will see the land, buildings, and furnishings, and the prime locations in child abuse-friendly territory, and decide what a wonderful idea it would be to open a new program on the ashes of the old.
« Last Edit: December 31, 1969, 07:00:00 PM by Guest »
...Sergey Blashchishen, James Shirey, Faith Finley, Katherine Rice, Ashlie Bunch, Brendan Blum, Caleb Jensen, Alex Cullinane, Rocco Magliozzi, Elisa Santry, Dillon Peak, Natalynndria Slim, Lenny Ortega, Angellika Arndt, Joey Aletriz, Martin Anderson, James White, Christening Garcia, Kasey Warner, Shirley Arciszewski, Linda Harris, Travis Parker, Omega Leach, Denis Maltez, Kevin Christie, Karlye Newman, Richard DeMaar, Alexis Richie, Shanice Nibbs, Levi Snyder, Natasha Newman, Gracie James, Michael Owens, Carlton Thomas, Taylor Mangham, Carnez Boone, Benjamin Lolley, Jessica Bradford's unnamed baby, Anthony Parker, Dysheka Streeter, Corey Foster, Joseph Winters, Bruce Staeger, Kenneth Barkley, Khalil Todd, Alec Lansing, Cristian Cuellar-Gonzales, Janaia Barnhart, a DRA victim who never even showed up in the news, and yet another unnamed girl at Summit School...

Offline Whooter

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Re: CRC's 10Q, Sept 2010 (They're about to give up on Aspen)
« Reply #7 on: December 01, 2010, 08:02:46 AM »
Quote from: "Pile of Dead Kids"
C'mon Whooter, your spin machine's obviously getting rusty. Nothing about "it's the economy"? Or "They're trimming down"?

There's not going to be any new investors, not for the Aspen mess as a whole. The only real risk is that someone will see the land, buildings, and furnishings, and the prime locations in child abuse-friendly territory, and decide what a wonderful idea it would be to open a new program on the ashes of the old.

They are not going to dump the whole Aspen Ed at once unless someone comes along and buys it.  They may close the less profitable ones and trim it back.  But it is unlikely that someone will buy all these programs just to close them down and open up new ones.  It would be a huge loss of revenue for no reason.



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Offline Troll Control

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Re: CRC's 10Q, Sept 2010 (They're about to give up on Aspen)
« Reply #8 on: December 01, 2010, 09:05:18 AM »
I don't think anyone is going to buy a cratering business with tens of millions in debt and no profitable projections for the future.  Aspen gets continuously sued and pays out giant settlements regularly and that's in addition to the fact the business doesn't actually make any money in the first place.  It will probably just get shut down and the properties will be sold.
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Offline Whooter

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Re: CRC's 10Q, Sept 2010 (They're about to give up on Aspen)
« Reply #9 on: December 01, 2010, 09:31:09 AM »
Quote from: "Troll Control"
I don't think anyone is going to buy a cratering business with tens of millions in debt and no profitable projections for the future.  Aspen gets continuously sued and pays out giant settlements regularly and that's in addition to the fact the business doesn't actually make any money in the first place.  It will probably just get shut down and the properties will be sold.

Most of the real estate are in rural areas that cannot support most business so they wouldnt get much for the property itself.  My thoughts are they will keep Aspen Education as an entire entity and if they need to increase profits they will cut lose some of the less profitable programs and try to sell them to investors interested in starting a new program like these people needed:

Link

This would make the most sense from a financial standpoint.



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Offline Troll Control

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Re: CRC's 10Q, Sept 2010 (They're about to give up on Aspen)
« Reply #10 on: December 01, 2010, 09:38:59 AM »
Quote
These children are in desperate need of being isolated from their community.

Same old quackery.  All research points to the fact that Asperger kids need to be in inclusive environments and aggregating and isolating them only compounds their problems.  That's some business plan they have there.  What a joke.

The only question is whiuch will fold first?  Aspen Ed or this pending shithole that plans to isolate Asperger kids.  John Q. Public must be dumb as a rock to hire these idiots.
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Offline Anne Bonney

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Re: CRC's 10Q, Sept 2010 (They're about to give up on Aspen)
« Reply #11 on: December 01, 2010, 09:58:27 AM »
Quote
These children are in desperate need of being isolated from their community.


Why?
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traight, St. Pete, early 80s
AA is a cult http://www.orange-papers.org/orange-cult.html

The more boring a child is, the more the parents, when showing off the child, receive adulation for being good parents-- because they have a tame child-creature in their house.  ~~  Frank Zappa

Offline Troll Control

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Re: CRC's 10Q, Sept 2010 (They're about to give up on Aspen)
« Reply #12 on: December 01, 2010, 01:53:48 PM »
Quote from: "Anne Bonney"
Quote
These children are in desperate need of being isolated from their community.


Why?

Because these people have no fucking clue what they're talking about.  It's about the worst thing you can do to an "Aspie."  Inclusion has shown to be the single most effective way to help them function in school and society in general.  Isolating them and aggregating them is a recipe for pure disaster.  

The upside is that if they are completely isolated from their communities the program assholes can hoodwink the parents more easily and extract more funds off Junior's despair.

That quote, BTW, was extracted directly from the business plan of the proposed shithole/kiddie jail.
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Offline Antigen

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Re: CRC's 10Q, Sept 2010 (They're about to give up on Aspen)
« Reply #13 on: December 01, 2010, 02:37:48 PM »
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Offline Pile of Dead Kids

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Re: CRC's 10Q, Sept 2010 (They're about to give up on Aspen)
« Reply #14 on: December 04, 2010, 05:27:22 PM »
...I actually play on that Quake server...
« Last Edit: December 31, 1969, 07:00:00 PM by Guest »
...Sergey Blashchishen, James Shirey, Faith Finley, Katherine Rice, Ashlie Bunch, Brendan Blum, Caleb Jensen, Alex Cullinane, Rocco Magliozzi, Elisa Santry, Dillon Peak, Natalynndria Slim, Lenny Ortega, Angellika Arndt, Joey Aletriz, Martin Anderson, James White, Christening Garcia, Kasey Warner, Shirley Arciszewski, Linda Harris, Travis Parker, Omega Leach, Denis Maltez, Kevin Christie, Karlye Newman, Richard DeMaar, Alexis Richie, Shanice Nibbs, Levi Snyder, Natasha Newman, Gracie James, Michael Owens, Carlton Thomas, Taylor Mangham, Carnez Boone, Benjamin Lolley, Jessica Bradford's unnamed baby, Anthony Parker, Dysheka Streeter, Corey Foster, Joseph Winters, Bruce Staeger, Kenneth Barkley, Khalil Todd, Alec Lansing, Cristian Cuellar-Gonzales, Janaia Barnhart, a DRA victim who never even showed up in the news, and yet another unnamed girl at Summit School...