MONDAY, Aug. 2 Theo Douglasfalls down in OC Weekly World HQ—goes crack! Don't even try.
TUESDAY, Aug. 3 Santa Ana-based Corinthian Colleges announces that it fell far short of its earnings targets for the fiscal fourth quarter, a revelation that causes its stock to plummet 45 percent. Investors were apparently upset not only at Corinthian lack of earnings, but also for failing, once again, to get its football team ranked in USA Today's preseason top 25. Corinthian officials say one reason for the low earnings was the high cost of an ad campaign to counter lawsuits brought by angry students claiming they had trouble transferring units to other schools. As you would expect, students at Cal State Long Beach are said to be watching the lawsuits very closely.