ITT Education Services Inc. (ESI) Stock Drops 46% ?!

From the article:

Read more here:

ITT Plunges After Real Estate Deal Falls Through - Businessweek

Another link:
Shares Of For-Profit College ITT Are Getting Destroyed After Real Estate Deal Falls Apart


Check out their chart on yahoo:

ESI: Summary for ITT Educational Services, Inc. - Yahoo! Finance

 

"ITT Educational CEO Plans to Resign"

According to a WSJ article, the CEO is going to step down:

ITT Educational CEO Plans to Resign - WSJ

 

It's not a total loss for him though.
His compensation for leading ITT for the past few years was as follows:

2008 $ 4,677,377
2009 $ 7,628,172
2010 $ 6,745,967
2011 $ 6,412,454
2012 $ 8,763,384

So that's $ 34,227,363 for 2008-2012.
His total take since he started in 2007, including 2013 and 2014, is probably around $ 50,000,000.

 

I would be smiling as they fire me!

 

There should be some pretty interesting press releases over the next few weeks, then.

 

And maybe some short-selling, too! :smile:

Johann