Lincoln Group of Schools

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Lincoln Group of Schools
Established 1946
Type for-profit
President Shaun E. McAlmont
Executive Chairman David F. Carney
Location West Orange, New Jersey, United States
Campus multiple campuses located in Colorado, Connecticut, Florida, Georgia, Illinois, Indiana, Kentucky, Maryland, Massachusetts, Nevada, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Tennessee and Texas.
Website http://www.lincolnedu.com/

The Lincoln Group of Schools (NASDAQLINC) is a group of for-profit tertiary level vocational institutions consisting of 31 campuses and 5 training sites in 15 states in the United States. Each campus is owned and operated by Lincoln Educational Services Corporation, a provider of career-oriented post-secondary education. Lincoln Educational Services operates through the following brands: Lincoln Technical Institute, Lincoln College of Technology, Euphoria Institute of Beauty Arts and Sciences, Lincoln Culinary Institute, Lincoln College of New England, and Florida Medical Training Institute. All Lincoln campuses offer open enrollment.

The Lincoln Group of Schools has been named a Military Friendly School every year since 2009 for its commitment to assisting veterans returning to the civilian workforce. In recent years Lincoln schools have introduced Manufacturing and Machining training programs on individual campuses to provide qualified, skilled machine operators for the returning wave of manufacturers opening factories in the U.S. Lincoln schools in Florida and Connecticut now offer Associate Degree Nursing programs, and many of their automotive campuses enjoy partnerships with manufacturers like BMW and Chrysler, and third-party training providers like Raytheon.

History[edit]

The founder and first President of Lincoln was J. Warren Davies. The first Lincoln Technical Institute was established in 1946 in Newark, New Jersey, to serve World War II veterans returning from overseas. At Lincoln, these veterans found training programs to help them learn career-specific skills, and transition into civilian careers in installation and servicing of air conditioning and refrigeration equipment. Automotive courses were added in 1948. Lincoln established traveling schools to offer NAPA-certified training, which certified over 11,000 mechanics between 1955 and 1965.

In 1969, Ryder acquired Lincoln Technical Institute and two other technical schools with campuses in Illinois, Pennsylvania and New Jersey. By 1977, Lincoln Technical Institute had ten campuses in Illinois, Indiana, Iowa, Maryland, New Jersey, Pennsylvania, Texas, and Washington, DC. Lincoln Technical Institute acquired court reporting school The Cittone Institute and its three campuses in 1994, leading the group to have 14 campuses by the school's 50th anniversary in 1996.

Stonington Partners and Hart Capital purchased Lincoln Technical Institute in 2000. The school continued expanding, acquiring Denver Automotive and Diesel College and Computer-Ed Business Institutes in 2001, Lincoln College of Technology in Nashville (previously the Nashville Auto-Diesel College) in 2003, and the Southwestern College of Business and New England Technical Institute[1] in 2004. Lincoln Educational Services Corporation made its initial public stock offering in 2005, trading on the NASDAQ under the symbol LINC. Also in 2005, the group acquired the Euphoria Institute of Beauty Arts and Sciences. Further acquisitions include the Harrison Career Institute in 2007, Briarwood College in December 2008 and the Baran Institute of Technology schools (Baran Institute of Technology, Connecticut Culinary Institute, Americare School of Nursing, Engine City Technical Institute, and Clemens College) in 2009. Lincoln completed the purchase of Florida Medical Training Institute in 2012.

An investigation on behalf of former and current students of Lincoln Educational Services Corporation including its Lincoln Technical Institute, Lincoln College of Technology, Nashville Auto-Diesel College, Southwestern College, Euphoria Institute, Lincoln Culinary Institute, and Lincoln College of New England brands, was announced in 2010 in connection with the report by the Government Accountability Office with the title "For-Profit Colleges: Undercover Testing Finds Colleges Encouraged Fraud in Deceptive and Questionable Marketing Practices."

Lincoln Educational Services faced an investor lawsuit on behalf of those who purchased LINC stock between March 3, 2010 and August 5, 2010 against Lincoln Educational Services Corp. over alleged violations of Federal Securities Laws. The plaintiff alleged on behalf of purchasers of the common stock of Lincoln Educational Services Corporation that between March 3, 2010 and August 5, 2010, that Lincoln Educational Services issued between March 3, 2010 and August 5, 2010, a series of materially false and misleading statements related to its business and operations in violation of the Securities Exchange Act of 1934.

The company experienced weaker than projected growth from 2008-2013, and announced the closing of five campuses between 2011 and 2014. According to the US Senate's Harkin Commission, LINC's 3-year default rate is approximately 27%. [2]

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Campuses[edit]

References[edit]

Notes
Bibliography

Shaun E. McAlmon (2014). "Shaun E. McAlmont, Chief Executive Officer Lincoln Group of Schools".  About Shaun E. McAlmon (2014). "Website".