Anchor ads are not supported on this page.

4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs

Bridgepoint stock zooms as Ashford gets accreditation

Overall market soars as Bernanke says spigot will stay open

Stock of controversial Bridgepoint Education is up 20.94% in early trading today (July 11) as its Ashford University, which accounts for almost all of company revenue, was given accreditation by the Western Association of Schools and Colleges. The threat of non-accreditation from two different bodies has been hanging over the stock. Although its returns have been slumping of late, along with those of other for-profit schools, Bridgepoint is still extremely profitable and has a strong balance sheet. Its stock lagged because inability to get accreditation could have killed the company, which has come under withering criticism for, among many things, spending much more on marketing than on education. At one point the stock was up 27% today.

The overall market is also soaring, as Federal Reserve Chairman Ben Bernanke yesterday told a group of economists that the Fed is in no hurry to raise interest rates. Banks are paying almost nothing for short-term money, and the Fed has been artificially driving down long rates through its purchases of long-term paper, a program known as quantitative easing, or QE. Yesterday's statement would appear to open the gates to another huge market rally. The long term concern, of course, is that since early 2009, stocks have been riding on easy money around the world -- not on economic performance. In the U.S., stocks have more than doubled -- by a lot -- and they have also soared in other major economies as a result of a coordinated central bank liquidity gusher, while the world economies have stumbled. (Full disclosure: I am still buying blue chip stocks with high yields. The monetary gusher should continue to support equities, although I cannot criticize those who believe there will be a crash.)

Here's something you might be interested in.
Submit a free classified
or view all

Previous article

Poway’s schools, faced with money squeeze, fined for voter mailing

$105 million bond required payback of nearly 10 times that amount

Stock of controversial Bridgepoint Education is up 20.94% in early trading today (July 11) as its Ashford University, which accounts for almost all of company revenue, was given accreditation by the Western Association of Schools and Colleges. The threat of non-accreditation from two different bodies has been hanging over the stock. Although its returns have been slumping of late, along with those of other for-profit schools, Bridgepoint is still extremely profitable and has a strong balance sheet. Its stock lagged because inability to get accreditation could have killed the company, which has come under withering criticism for, among many things, spending much more on marketing than on education. At one point the stock was up 27% today.

The overall market is also soaring, as Federal Reserve Chairman Ben Bernanke yesterday told a group of economists that the Fed is in no hurry to raise interest rates. Banks are paying almost nothing for short-term money, and the Fed has been artificially driving down long rates through its purchases of long-term paper, a program known as quantitative easing, or QE. Yesterday's statement would appear to open the gates to another huge market rally. The long term concern, of course, is that since early 2009, stocks have been riding on easy money around the world -- not on economic performance. In the U.S., stocks have more than doubled -- by a lot -- and they have also soared in other major economies as a result of a coordinated central bank liquidity gusher, while the world economies have stumbled. (Full disclosure: I am still buying blue chip stocks with high yields. The monetary gusher should continue to support equities, although I cannot criticize those who believe there will be a crash.)

Sponsored
Here's something you might be interested in.
Submit a free classified
or view all
Previous article

Bridgepoint's Ashford Denied Accreditation; Stock Plummets

Next Article

Bridgepoint stock soars

DeVos loosening of rules may be factor
Ask a Hipster — Advice you didn't know you needed Big Screen — Movie commentary Blurt — Music's inside track Booze News — San Diego spirits Classical Music — Immortal beauty Classifieds — Free and easy Cover Stories — Front-page features Drinks All Around — Bartenders' drink recipes Excerpts — Literary and spiritual excerpts Feast! — Food & drink reviews Feature Stories — Local news & stories Fishing Report — What’s getting hooked from ship and shore From the Archives — Spotlight on the past Golden Dreams — Talk of the town The Gonzo Report — Making the musical scene, or at least reporting from it Letters — Our inbox Movies@Home — Local movie buffs share favorites Movie Reviews — Our critics' picks and pans Musician Interviews — Up close with local artists Neighborhood News from Stringers — Hyperlocal news News Ticker — News & politics Obermeyer — San Diego politics illustrated Outdoors — Weekly changes in flora and fauna Overheard in San Diego — Eavesdropping illustrated Poetry — The old and the new Reader Travel — Travel section built by travelers Reading — The hunt for intellectuals Roam-O-Rama — SoCal's best hiking/biking trails San Diego Beer — Inside San Diego suds SD on the QT — Almost factual news Sheep and Goats — Places of worship Special Issues — The best of Street Style — San Diego streets have style Surf Diego — Real stories from those braving the waves Theater — On stage in San Diego this week Tin Fork — Silver spoon alternative Under the Radar — Matt Potter's undercover work Unforgettable — Long-ago San Diego Unreal Estate — San Diego's priciest pads Your Week — Daily event picks
4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs
Close

Anchor ads are not supported on this page.

This Week’s Reader This Week’s Reader