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1/ Let's talk some more about why the so-called "purchase" of for-profit Ashford University by the University of Arizona is exactly the opposite of what it appears to be. https://twitter.com/kevincarey1/status/1290412977556992000?s=20
2/ In a press release yesterday, @UArizona said it will "acquire the assets of Ashford University."
Last week, the stock market valued those assets at about $120 million, give or take. https://news.arizona.edu/story/university-arizona-announces-expanded-access-through-university-arizona-global-campus
Last week, the stock market valued those assets at about $120 million, give or take. https://news.arizona.edu/story/university-arizona-announces-expanded-access-through-university-arizona-global-campus
3/ Did @UArizona pay Ashford's shareholders $120 million?
No.
Instead, Ashford's parent company agreed to pay @UArizona $37.5 million.
In identifying the buyer and the seller in a transaction, an important clue is who is paying money to whom.
No.
Instead, Ashford's parent company agreed to pay @UArizona $37.5 million.
In identifying the buyer and the seller in a transaction, an important clue is who is paying money to whom.
4/ Is @UArizona itself even legally a direct party to this transaction?
No.
Instead, the deal is between Ashford and a brand-new non-profit shell company called "University of Arizona Global Campus."
No.
Instead, the deal is between Ashford and a brand-new non-profit shell company called "University of Arizona Global Campus."
5/ This allows the university to market these degrees as "Land Grant Access + High Quality Online Education" without pesky restrictions like shared governance, academic freedom, and tenure that one normally associates with land grant universities. https://globalcampus.arizona.edu/?_ga=2.216683158.1013548564.1596543685-1313242430.1596543685
6/ And say @UArizona faculty are curious about how exactly this whole arrangement is going to work. Guess what kind of organization isn't subject to FOIA and public records requests? Non-profit shell companies!
7/ "University of Arizona Global Campus" won't be run by the University of Arizona. It will be run by the same people who run it now: Ashford University, a for-profit college with a history of deceptive marketing and loan collection practices. https://vetsedsuccess.org/letter-to-va-and-csaave-requesting-a-risk-based-review-of-ashford-university/
8/ In a more truthful world, the press release would read like this:
"Today, Ashford University announced an exciting deal to rent the University of Arizona's prestigious brand name for 15 years in exchange for a $37.5 million up-front payment and a share of future revenues."
"Today, Ashford University announced an exciting deal to rent the University of Arizona's prestigious brand name for 15 years in exchange for a $37.5 million up-front payment and a share of future revenues."
9/ But that of course would puncture the illusion that is at the heart of this deal.
