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ENI's Moral Balancing
futureofcapitalism.com

The Securities and Exchange Commission earlier this week issued a press release headlined, "SEC Charges Italian Company and Dutch Subsidiary in Scheme Bribing Nigerian Officials With Carloads of Cash," that began, "The Securities and Exchange Commission today charged Italian company ENI, S.p.A. and its former Dutch subsidiary Snamprogetti Netherlands B.V. with multiple violations of the Foreign Corrupt Practices Act (FCPA) in a bribery scheme that included deliveries of cash-filled briefcases and vehicles to Nigerian government officials to win construction contracts. Snamprogetti and ENI will jointly pay $125 million to settle the SEC's charges, and Snamprogetti will pay an additional $240 million penalty to settle separate criminal proceedings announced today by the U.S. Department of Justice."

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The War on For-Profit Education
futureofcapitalism.com

The New York Times's Tamar Lewin took aim at the Washington Post Company this week with a news article with the Web headline "Washington Post's Kaplan Faces Growing Scrutiny." It's kind of a self-fulfilling headline, because, by publishing a 2,600 word front-page news article on the topic, the New York Times itself both engages in the scrutiny and contributes to its growth.

What's avoided much scrutiny so far, however, is the Times's coverage of the issue. A close reading is in order. From the Times: "All these schools get most of their revenue from federal student aid. Kaplan Higher Education, for example, gets 91.5 percent of its revenue from the federal government, through Pell grants, Stafford loans, military and veterans benefits and other aid."

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Bloomberg on For-Profit Colleges
futureofcapitalism.com

"For-Profit Colleges Charge More While Doing Less" is the headline Bloomberg News put over a news article that in fact describes in detail a whole series of ways that the for-profit colleges are doing more for students than are competing community and state-owned colleges. According to the article, the for-profits offer students less crowded classes, with seats, courses that are easier to enroll in, and teachers who can be fired if they don't do a good job. The headline is just inaccurate, and, like so much of the press coverage of the for-profits, is slanted against the for-profits.

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Harkin's Hypocrisy
futureofcapitalism.com

A Bloomberg News article about an effort by for-profit colleges to win the repeal of a 1998 law requiring them to get at least 10% of their revenue from outside the federal education department quotes Senator Harkin:

Senator Tom Harkin, the Iowa Democrat who chairs the Senate education committee and investigated student recruitment, job- placement claims and use of government funds by for-profit colleges, called the 90/10 rule "one of the few protections students at these schools have."

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ENI's Moral Balancing
futureofcapitalism.com

The Securities and Exchange Commission earlier this week issued a press release headlined, "SEC Charges Italian Company and Dutch Subsidiary in Scheme Bribing Nigerian Officials With Carloads of Cash," that began, "The Securities and Exchange Commission today charged Italian company ENI, S.p.A. and its former Dutch subsidiary Snamprogetti Netherlands B.V. with multiple violations of the Foreign Corrupt Practices Act (FCPA) in a bribery scheme that included deliveries of cash-filled briefcases and vehicles to Nigerian government officials to win construction contracts. Snamprogetti and ENI will jointly pay $125 million to settle the SEC's charges, and Snamprogetti will pay an additional $240 million penalty to settle separate criminal proceedings announced today by the U.S. Department of Justice."

Read More...


The War on For-Profit Education
futureofcapitalism.com

The New York Times's Tamar Lewin took aim at the Washington Post Company this week with a news article with the Web headline "Washington Post's Kaplan Faces Growing Scrutiny." It's kind of a self-fulfilling headline, because, by publishing a 2,600 word front-page news article on the topic, the New York Times itself both engages in the scrutiny and contributes to its growth.

What's avoided much scrutiny so far, however, is the Times's coverage of the issue. A close reading is in order. From the Times: "All these schools get most of their revenue from federal student aid. Kaplan Higher Education, for example, gets 91.5 percent of its revenue from the federal government, through Pell grants, Stafford loans, military and veterans benefits and other aid."

Read More...


Bloomberg on For-Profit Colleges
futureofcapitalism.com

"For-Profit Colleges Charge More While Doing Less" is the headline Bloomberg News put over a news article that in fact describes in detail a whole series of ways that the for-profit colleges are doing more for students than are competing community and state-owned colleges. According to the article, the for-profits offer students less crowded classes, with seats, courses that are easier to enroll in, and teachers who can be fired if they don't do a good job. The headline is just inaccurate, and, like so much of the press coverage of the for-profits, is slanted against the for-profits.

Read More...


Harkin's Hypocrisy
futureofcapitalism.com

A Bloomberg News article about an effort by for-profit colleges to win the repeal of a 1998 law requiring them to get at least 10% of their revenue from outside the federal education department quotes Senator Harkin:

Senator Tom Harkin, the Iowa Democrat who chairs the Senate education committee and investigated student recruitment, job- placement claims and use of government funds by for-profit colleges, called the 90/10 rule "one of the few protections students at these schools have."

Read More...


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John Lauerman

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