One of San Diego larger private employers, Ashford University/Bridgepoint Education, announced layoffs for 450 employees yesterday, a move that’s bound to send ripples throughout the region. Employees were told to come in early, shown a video and offered a two-week severance package. Then it was out the door.
The aftermath of past corporate disintegrations brought on by unsustainable business models (or a legal/quasi-legal ponzi scheme, as I like to call it) has been a sort of local amnesia in the news media, followed by admonitions from the UT’s editorial page that “too much regulation” is bad for business. At the bottom of this well of malevolent corporate behavior is the ultimate reality that we citizens will get stuck with the bill for damages while most of its perpetrators will walk away unscathed. [Read more…]