03-31-2007, 11:53 PM
Troubles Grow for a University Built on Profits - New York Times
The University of Phoenix
The complaints have built through months of turmoil. The president resigned, as did the chief executive and other top officers at the Apollo Group, the universityâs parent corporation. A federal court reinstated a lawsuit accusing the university of fraudulently obtaining hundreds of millions of dollars in financial aid. The university denies wrongdoing. Apollo stock fell so far that in November, CNBC featured it on a âBiggest Losersâ segment. The stock has since gained back some ground. In November, the Intel Corporation excluded the university from its tuition reimbursement program, saying it lacked top-notch accreditation.
The University of Phoenix
The complaints have built through months of turmoil. The president resigned, as did the chief executive and other top officers at the Apollo Group, the universityâs parent corporation. A federal court reinstated a lawsuit accusing the university of fraudulently obtaining hundreds of millions of dollars in financial aid. The university denies wrongdoing. Apollo stock fell so far that in November, CNBC featured it on a âBiggest Losersâ segment. The stock has since gained back some ground. In November, the Intel Corporation excluded the university from its tuition reimbursement program, saying it lacked top-notch accreditation.
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