First off, I'm going to give you guys a little introduction about myself. I'm a graduate of Sierra, I started my 1st flight with Sierra and went through all the training from Private-Mei. I taught at Sierra for a period of 2-years. Before that, I also worked in various departments at Sierra (i am not going to disclose which one for obvious reasons) for almost 3-years before I went over to the flight department.
I personally know Mr. Skip Everett and most of the executive management guys that work upstairs (the people on the 2nd floor in the east corner of the building). I also personally know the current chief, Rashid, and the prior chiefs, Suzanne, Claudia, and John. In short, I've been through thick and thin with the company. I know their intentions during good business times and intentions during the bad times. I've spent many hours in service with them during the peak of the dot-com and also during the brink of Sept.11.
My suggestion to all enrollees at Sierra is to withdrawl and get your money as soon as possible. I no longer have ties with sierra. But based on my speculations and with the non-confirmed information that I receive from various sources, I've concluded that they've already eliminated all the profitable sides to the company and they are ready to close the doors.
For example, I have confirmed reports that Sierra sold off its Business Jet Center, Maintenance school, and Livermore Training facility (to pan am). These 3 entities of Sierra are profitable, each was sold for an undisclosed amount. What is left is it Oakland Flight-Training center. We all know that they don't make any money on this. What I'm saying is that Skip sold off the parts of the school where it is profitable, and of course has a money value. What is left is nothing, only the oakland flight-training. The aircrafts are all leased backs from Christian Aviation in Wymoning. The school has nothing.
I anticipate the doors will be shut (for good) within the next 2 months. If I am wrong I am wrong, but I'm probably one of the most credible guys out there that has info about SIerra since I've been around.
If you are a current student and if you want to discuss this with me in a personal manner, please send me a personal-msg on this site. Otherwise, don't say I haven't warned you guys.
Btw, One poster on this thread mentioned that all student-tuitions are supposed to be allocated in a seperate account which is totally untrue. I work with a few accredited schools in CA as well as KEY-BANK itself. There is NO SUCH requiremetn that the school has to keep your tuition money 'safe". In short, if they close their doors, their taking your money with them.