Image provided by: University of Oregon Libraries; Eugene, OR
About The skanner. (Portland, Or.) 1975-2014 | View Entire Issue (Oct. 3, 2018)
October 3, 2018 The Skanner Page 7 Bids & Classified Advertising deadlines 12:00 Noon Monday Hours: Monday - Friday 8:30 a.m. - 5:30 p.m. To place your ad, email advertising@theskanner.com or go to www.TheSkanner.com and click on the “Ads” menu Venture Capitalist on Verge of Acquiring DeVry Millions are at stake, but little transparency, in sale of for- profit college By Collin Binkley and Richard Lardner, AP WASHINGTON — A lit- tle-known venture cap- italist is on the verge of acquiring one of the big- gest for-profit colleges in the country, a transac- tion that would put him in control of a troubled national chain that’s more than 60 times the size of the tiny Califor- nia school he currently owns. The business friend- ly Trump administra- tion has given a tenta- tive green light to the sale of DeVry Univer- sity to Bradley Palmer, chairman of Connecti- cut-based Palm Ven- tures, even as critics warn the deal raises red flags. Chief among them is the challenge of taking over such a large insti- tution. DeVry, which has an annual enrollment of about 46,000, also faces thousands of fraud com- plaints filed by students. The DeVry acquisition is the inverse of how Washington typically works. Often companies and their top executives spend heavily to influ- ence a government de- cision or policy in their favor. But there’s no sign that any of the parties employed lobbyists or made significant polit- ical contributions spe- cifically to push the sale forward. Like most transactions in the for-profit world, the DeVry deal has re- ceived little public scru- tiny even though mil- lions of dollars in federal financial aid are at stake. And the change in own- ership is moving along at the same time Educa- tion Secretary Betsy De- Vos works to dismantle Obama-era regulations designed to better po- lice the industry and increase protections for students. If the DeVry deal is fi- nalized, it would be an- other in a series of recent sales meant to breathe new life into troubled for-profit colleges. Pur- due University recent- ly bought the for-prof- it Kaplan University chain and converted it into a nonprofit to lead the school’s online pro- grams. Kaplan agreed to a $1.3 million settlement in 2015 after it was accused of hiring unqualified in- structors. Last year the Dream Center Founda- tion, a religious charity, purchased three chains from Education Man- agement Corporation, which in 2015 agreed to nearly $200 million in settlements over allega- tions that it used illegal recruiting tactics. Impact on students unclear Under the terms of the DeVry sale, the chain’s stock will be acquired at no cost by Cogswell Education LLC, a hold- ing company registered plans to sell DeVry in any particular timeframe. in Delaware and run by Palmer. Cogswell Educa- tion currently owns the for-profit Cogswell Col- lege in San Jose. The impact for stu- dents is unclear. The Education Department said DeVry must keep promises it previously made to its students, in- cluding a commitment to disclose information about costs and student debt. A spokeswoman for Cogswell Education added that Palmer has no DIRECTOR OF HOUSING DEVELOPMENT Northwest Housing Alternatives (NHA) is seeking a passionate and dynamic leader for our Housing Develop- ment Department. The Director of Housing De- velopment is a senior position within the orga- nization that carries the responsibility to create well-designed and fi- nancially sustainable affordable rental hous- ing configured to meet urgent housing needs throughout our state. For over 35 years, NHA has been a leading not- for-profit developer of affordable housing in Or- egon. Please visit www. nwhousing.org/get-in- volved/careers for more information or to apply. 10-3-18 Read the rest of this story at TheSkanner.com EARLY LEARNING COORDINATOR Washington County: United Way is hiring an administrative coordina- tor to support its Early Learning Team. Bilingual skills in Spanish/English are required. This is a full-time, non-exempt po- sition, working primarily out of the Early Learn- ing office in Aloha but also United Way’s Port- land office. Hiring range: $34,347-$41,217, DOE. To review the competen- cies required and to ap- ply: www.unitedway-pdx. org/about/careers by 10/19/18. EOE 10-3-18 Affordable efficient security just for you! Install / Maintenance For Alarm Systems Monitoring Service Residential & Commercial Install Surveillance System (CCTV) New Construction Prewire for Alarm Service, Whole House Audio, CCTV 9020 NE Vancouver Way, #B Portland, OR 97211 503.288.7716 AlarmTracksPdx.com Community Business Directory INSURANCE
