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"Some college administrators seem so distracted with fund raising, academic infighting, and community initiatives that they set up their emergency communications departments very poorly. Training is poor to nonexistent, secretaries are pressed into service with tremendous responsibilities for running 'notification systems' 24/7 and on weekends because no one else knows how to do it and the administration won’t pay for additional staff. Procedures are seat-of-the-pants and dependent on HIPPO (highest paid person’s opinion), except when something like Virginia Tech happens and there is some sort of scramble to do something different." --Donna
Most Colleges Avoid Risk Management, Report Says
More Than 1,100 Colleges Join Yellow Ribbon Program for Military Veterans
A total of 1,165 colleges have signed up for a federal effort to help military veterans attend college.
Record-Setting Jury Verdict Could Mean (More) Profits for NYU
New York University’s 2007 patent-royalty sale anticipated the potential for further payments.
Jill Biden Shines a Global Spotlight on American Community Colleges
Speaking at a Unesco conference in Paris, the vice president’s wife stressed the importance of two-year institutions to the nation’s educational goals.
Connecticut Public Colleges Lose 200 Professors to Early Retirement
Administrators are scrambling to plug holes in their course schedules for fall, with most expecting to do so by hiring more adjuncts or increasing class sizes.
U. of Georgia Paid 2 Fraternities $2.4-Million to Relocate, Contracts Show
The two were among five with houses on property where the university plans to build new academic facilities.
College Suspends Student for Working in Gay Pornography | 58
President Obama's Visit to Notre Dame Carries Barely a Hint of Controversy That Preceded It | 58
Drug Sting Nabs 21 Students at U. of Illinois | 57
Faculty Members and Union Protest Staff Layoffs at Temple U. as 'Cruel' | 57
North Dakota Board's Vote Puts 'Fighting Sioux' Mascot on Thinner Ice | 57
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November 19, 2008
Grand Canyon U. Goes Public
Grand Canyon Education Inc., which operates the for-profit Grand Canyon University in Arizona, on Wednesday became the first company in four months to carry off an initial public offering when it completed its plan to raise $126-million by issuing 10.5 million shares through a consortium of investment banks.
The deal came in the wake of dozens of other companies’ canceling or postponing similar offerings, and was taken as a signal of investors’ measured confidence in the company’s business model. The price Grand Canyon commanded for its stock, about $12 per share, was far less than the $16 to $18 per share the company had hoped to get when it made known its plans to go public this past spring.
Since then, Wall Street has been in turmoil and the parent company has disclosed that the university is being investigated by the inspector general of the U.S. Department of Education. That investigation focuses on how employees who recruit students are compensated. In its regulatory filings with the U.S. Securities and Exchange Commission, the company has also revealed that it is the target of a “whistle-blower” lawsuit accusing it of violating the federal False Claims Act in obtaining student-aid funds.
Grand Canyon University, which was formerly a nonprofit institution, was acquired by investors in 2004. They have since overseen a rapid rise in enrollment, mostly through online offerings aimed at adult students. The company says that, as of September 30, enrollment stood at about 22,000, an increase of 63 percent over the figure a year earlier.
The stock is scheduled to begin trading on the Nasdaq market under the symbol LOPE on Wednesday. —Goldie Blumenstyk
Posted on Wednesday November 19, 2008 | Permalink |Comments
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Does this mean that faculty are no longer required to sign a conservative Christian personal faith statement?
— CG Nov 20, 12:11 PM #
Online education has its place as a supplement and this is proven by the type of educations available in this format. The fact you cannot get a phd in English online is at least, even if speculatively, a beginning of evidence I would offer as to why the “appearance” of success of the online model is more a success of a business model then of an academic model.
— maria cuervo Nov 20, 12:56 PM #
You may not be able to get a PhD in English online this year, but rest assured that time is coming. Indeed, English, with its reliance on reading, writing and textual analysis, is tailor-made for the online pedagogical model. On the other hand, it will always be difficult to teach welding online.
— BertW Nov 20, 02:11 PM #