Who owns itt educational services inc

Latest Trade. Today's Range. Key Developments. Key Metrics. All Listings. New Stories. Aug 12 Reuters - u. Lack resources,personnel to prepare and file future reports with SEC and do not intend to make additional filings with SEC. Holds collateralized note obligations from peaks trust ; ITT educational services has guaranteed payment on notes.

The company's executive committee took over day-to-day governance of the operation until a new president could be appointed, and in September of , the position was filled by Rene Champagne.

Champagne had spent 16 years in various high-level administrative positions with Kendall Company, a subsidiary of Colgate-Palmolive. Immediately prior to joining ITT Educational, he had served as the executive vice-president and chief operating officer of Continental Pharma Cryosan Inc. In the division announced that it was closing the training and temporary staffing operations in Indianapolis, Chicago, Houston, and Los Angeles. Two years later, the Employer Services Division broadened its services by offering both temporary and permanent technical staff placement.

In , however, the entire division was sold to Olsten Corporation. In the company's Resident Division took steps to become more unified and standardized. The early s marked a turning point in ITT's evolution. In the company unveiled the Vision plan, a strategy for changing the way it was perceived.

Since its formation in the s, ITT institutes had been viewed primarily as 'trade schools. In addition to this repositioning, Vision called for aggressive geographic expansion and the addition of new curricula. ITT's new goal was to have a network of 80 technical colleges located across the country, serving more than 45, students, by the year ITT immediately took steps toward achieving its newly articulated goals.

By the end of , four new schools had been opened and plans were under way for three more. The company also had added several new degree programs to its offerings, including a bachelor of applied science in hospitality management, a bachelor of applied science in industrial design, and a bachelor's degree in electronics engineering technology.

By the end of , ITT Educational was operating 54 schools in 25 states. Of the more than 20, students it served, approximately 70 percent were enrolled in electronics-engineering technology and related programs. The goal of the spin-off, according to ITT Educational President Rene Champagne, was to raise the company's visibility among investors.

We were getting lost in the corporate complex,' he said in a June interview with the Indianapolis Star. During the restructuring, the giant conglomerate split into three publicly held companies. The first degree offered by the Graduate Division was a master's in project management. The coursework and class schedules in the program were designed to appeal to adults who wanted to complete an advanced degree while working full-time.

Early brought yet another shift at the corporate level for ITT. From the time of the acquisition, ITT Educational knew that change was in the offing. Starwood made it immediately clear that it had no interest in maintaining an educational subsidiary that did not fit with its core businesses of hotels and gaming.

In June, Starwood sold 13 million shares of ITT Educational stock, reducing its ownership in the company from 83 to 35 percent. Then in an early public offering, the company sold the remainder of its ITT Educational stock, making ITT an independent, stand-alone company for the first time in its history. Despite the ownership upheavals of the s, ITT had continued to steadily add new colleges and new programs to its system.

The program--which focused on such areas as computer network systems, programming, and Web development--was so well received, however, that the company decided to introduce it at 27 locations, rather than the 13 originally planned. It has approximately campus locations in over 40 states.

It offers online programs to students in all over 50 states. It designs its education programs, after consultation with employers and other constituents, to allow graduates prepare for careers in different fields involving their areas of study. The ITT Technical Institutes offers over 50 education programs in various fields of study across business, drafting and design, electronics technology, criminal justice, information technology IT , and Breckinridge School of nursing and health sciences.

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