Fornits
Treatment Abuse, Behavior Modification, Thought Reform => Aspen Education Group => Topic started by: Pile of Dead Kids on November 20, 2010, 06:00:17 PM
-
http://ir.10kwizard.com/filing.php?ipag ... ource=1321 (http://ir.10kwizard.com/filing.php?ipage=7245440&DSEQ=1&SEQ=&SQDESC=SECTION_BODY&exp=&source=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:
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 Aspen’s 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.
-
That sound you hear is Aspen Education circling the toilet drain.
-
That sound you hear is Aspen Education circling the toilet drain.
Couldn't happen to a more deserving shithole.
-
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.
...
-
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.
-
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.
...
-
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.
-
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.
...
-
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.
-
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 (http://http://www.renewinghopeacademy.com/)
This would make the most sense from a financial standpoint.
...
-
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.
-
These children are in desperate need of being isolated from their community.
Why?
-
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.
-
What's that sound? (http://http://quake.phoenixlabs.org/maps/fortress/sound/misc/deepthud.wav)
-
...I actually play on that Quake server...
-
If you look at the Residential programs compared to 2009 they continue to increase in revenue (just at a slower pace then forecasted).
The $1.4 million, or 4.0%, increase within the healthy living division was driven by increases of $1.9 million and $0.6 million within weight management and outdoor programs, respectively, offset by a decrease of $1.0 million in residential facilities.
As you can see within the Healthy Living division the outdoor programs are recovering much more quickly then the Residential Programs and Weight management.
Bottom line is that after expenses the Net revenue per patient per day increased from $352 to $356. So CRC is making big money off of Residential Treatment facilities, just lower than they had forecast.
So its evident that CRC still enjoys Residential treatment as a "cash cow" and probably is not looking to sell it off at this point.
...
-
If you look at the Residential programs compared to 2009 they continue to increase in revenue (just at a slower pace then forecasted).
The $1.4 million, or 4.0%, increase within the healthy living division was driven by increases of $1.9 million and $0.6 million within weight management and outdoor programs, respectively, offset by a decrease of $1.0 million in residential facilities.
As you can see within the Healthy Living division the outdoor programs are recovering much more quickly then the Residential Programs and Weight management.
Bottom line is that after expenses the Net revenue per patient per day increased from $352 to $356. So CRC is making big money off of Residential Treatment facilities, just lower than they had forecast.
So its evident that CRC still enjoys Residential treatment as a "cash cow" and probably is not looking to sell it off at this point.
Link, please?
Incidentally, I'm not sure where you get the idea that the outdoor programs are any kind of significant money maker from the material you quote above (in green). They're barely exceeding the break even point. It's the fat farms that are pulling this entire train:
SUMMARY:
+ $1.9 M — weight management
+ $0.6 M — outdoor programs
- $1.0 M — residential facilities
-
If you look at the Residential programs compared to 2009 they continue to increase in revenue (just at a slower pace then forecasted).
The $1.4 million, or 4.0%, increase within the healthy living division was driven by increases of $1.9 million and $0.6 million within weight management and outdoor programs, respectively, offset by a decrease of $1.0 million in residential facilities.
As you can see within the Healthy Living division the outdoor programs are recovering much more quickly then the Residential Programs and Weight management.
Bottom line is that after expenses the Net revenue per patient per day increased from $352 to $356. So CRC is making big money off of Residential Treatment facilities, just lower than they had forecast.
So its evident that CRC still enjoys Residential treatment as a "cash cow" and probably is not looking to sell it off at this point.
Link, please?
Incidentally, I'm not sure where you get the idea that the outdoor programs are any kind of significant money maker from the material you quote above (in green). They're barely managing to break even. It's the fat farms that are pulling this entire train.
Link (http://http://ir.10kwizard.com/filing.php?ipage=7245440&DSEQ=1&SEQ=&SQDESC=SECTION_BODY&exp=&source=1321)
"Healthy Living Division" is near the end (last 1/4 on your scroll bar to save you time).
You are right it is the Weight Management that is pulling all the weight (no pun intended) in the Healthy Living at this time, although outdoor Programs are outpacing Residential in their recovery.
...
-
Incidentally, I'm not sure where you get the idea that the outdoor programs are any kind of significant money maker from the material you quote above (in green). They're barely exceeding the break even point. It's the fat farms that are pulling this entire train:
SUMMARY:
+ $1.9 M — weight management
+ $0.6 M — outdoor programs
- $1.0 M — residential facilities
Ursus, bullshit from Whooter is expected, but it's important to remember how deeply it is bullshit. He cited the wrong patient-day revenue (before expenses), and those other numbers are the change in revenue before expenses compared to the same 3 months in 2009. And the expenses of the entire "healthy living" division went up $2.5 million during those three months. But CRC isn't kind enough to break down its expense numbers for us, so we can't reach in and say how much Aspen is making- or, more likely, losing- versus the other parts of that division. CRC's descriptions of Aspen specifically might give us some clues there, though... :D
I also made a mistake because I didn't notice that CRC was trying to count goodwill (bullshit) as real money again, which it's been shedding. So the "healthy living" division, in its entirety, made somewhat under $3M in operating income in the last three months (CRC has them $4M in pure EBITDA) and was a little above breaking even counting their asset impairment (and most of those assets are also made-up bullshit). That's before taxes, corporate-headquarters expenses, and everything else.
Also remember that the summer is the busy season for parents trying to get rid of their children for three (or more) months. CRC was expecting a lot more in revenue.
The EBITDA numbers are from this: http://ir.10kwizard.com/filing.php?ipag ... ource=1321 (http://ir.10kwizard.com/filing.php?ipage=7247408&rid=23&attach=ON&doc=1&source=1321) It's damning. During the first nine months of 2010, the "Recovery" division made them $91M in raw EBITDA. "Healthy Living"? Not even $3M. This is right after the busy season, and it's about $4M less than the first nine months of 2009. And this is with the (presumably money-making) fat camps.
Of course they're trying to sell Aspen off, but nobody wants it. CRC bought this turkey at what turned out to be a vastly inflated price, borrowing money they're struggling to pay back, making it more and more attractive to potential buyers by dropping the intangible "assets". Still no deal.
-
Incidentally, I'm not sure where you get the idea that the outdoor programs are any kind of significant money maker from the material you quote above (in green). They're barely exceeding the break even point. It's the fat farms that are pulling this entire train:
SUMMARY:
+ $1.9 M — weight management
+ $0.6 M — outdoor programs
- $1.0 M — residential facilities
Residential Facilities
Number of facilities: 17
Net Revenue per patient per day: $249.55
Patient days: 188,431
The numbers are from this: http://ir.10kwizard.com/filing.php?ipag ... ource=1321 (http://ir.10kwizard.com/filing.php?ipage=7247408&rid=23&attach=ON&doc=1&source=1321)
...
-
Incidentally, I'm not sure where you get the idea that the outdoor programs are any kind of significant money maker from the material you quote above (in green). They're barely exceeding the break even point. It's the fat farms that are pulling this entire train:
SUMMARY:
+ $1.9 M — weight management
+ $0.6 M — outdoor programs
- $1.0 M — residential facilities
Ursus, bullshit from Whooter is expected, but it's important to remember how deeply it is bullshit. He cited the wrong patient-day revenue (before expenses), and those other numbers are the change in revenue before expenses compared to the same 3 months in 2009. And the expenses of the entire "healthy living" division went up $2.5 million during those three months. But CRC isn't kind enough to break down its expense numbers for us, so we can't reach in and say how much Aspen is making- or, more likely, losing- versus the other parts of that division. CRC's descriptions of Aspen specifically might give us some clues there, though... :D
I also made a mistake because I didn't notice that CRC was trying to count goodwill (bullshit) as real money again, which it's been shedding. So the "healthy living" division, in its entirety, made somewhat under $3M in operating income in the last three months (CRC has them $4M in pure EBITDA) and was a little above breaking even counting their asset impairment (and most of those assets are also made-up bullshit). That's before taxes, corporate-headquarters expenses, and everything else.
Also remember that the summer is the busy season for parents trying to get rid of their children for three (or more) months. CRC was expecting a lot more in revenue.
The EBITDA numbers are from this: http://ir.10kwizard.com/filing.php?ipag ... ource=1321 (http://ir.10kwizard.com/filing.php?ipage=7247408&rid=23&attach=ON&doc=1&source=1321) It's damning. During the first nine months of 2010, the "Recovery" division made them $91M in raw EBITDA. "Healthy Living"? Not even $3M. This is right after the busy season, and it's about $4M less than the first nine months of 2009. And this is with the (presumably money-making) fat camps.
Of course they're trying to sell Aspen off, but nobody wants it. CRC bought this turkey at what turned out to be a vastly inflated price, borrowing money they're struggling to pay back, making it more and more attractive to potential buyers by dropping the intangible "assets". Still no deal.
:tup: