This brilliant move that was apparently approved by the bumbling Axelrod takes away the only remaining issue that may have brought a breath of enthusiasm to the dead calm around Dem headquarters in Anywhere, America. To show further support for the strategy to stop voting on any issue that may upset corporate America, the Dunc announced today that ED's plan for implementing new regs for the for-profit diploma mills is being reconsidered at present. Could the news of a back down be part of a Friday news dump?
(Reuters) - The U.S. Education Department's schedule for implementing proposed regulations on for-profit schools is not final, according to a media report that caused share prices in the sector to rise.
"We are keeping our options open," Education Secretary Arne Duncan was quoted as saying when asked about a possible delay in finalizing the regulations. His comments appeared in a blog run by Washington publication The Hill.
The remark pushed up share prices for the schools, which have been volatile on news that the Education Department may declare some programs ineligible for financial aid.
Shares of Corinthian Colleges were up 10.53 percent at midafternoon at $6.80. Apollo Group was up 2.91 percent at $51.91. DeVry Inc was up 3.7 percent at $45.96 and Career Education Corp was up 6.22 percent at $22.01.
The share prices rose on hope that the Education Department would push back plans to implement the rules.
"There has been a hearing scheduled for next week in the senate. ... I think there is a continued optimism perhaps that the gainful employment rules maybe delayed or perhaps modified. And I think that is what is driving the group up a little bit," said ThinkEquity LLC analyst James Maher.
The Education Department declined to comment on the scheduling. "Tomorrow we will announce our timeline for moving forward with gainful employment," said spokesman Justin Hamilton in an email. . . .