Florida Metropolitan University under investigation
I wrote that for profit universities have a place in higher education and they would facilitate to make higher education more dynamic. Though I briefly mentioned about structural problems of for profit institutions, I was pretty optimistic about profit universities in general. Now I am wondering whether I have to rethink.
The subpoena apparently involves FMU's (also FMU) advertising and marketing practices. Many for profit institutions' (companies) advertising and marketing practices have problems; it is unfortunately not inaccurate to say that advertising and marketing are done in such a way that they manipulate consumers, in this case, potential students. Advertising and marketing have changed fundamentally over the last 10 years or so. Advertising and marketing are so much more sophisticated today; for profit institutions (companies) hire psychologists. They experiment different patters. They conduct elaborate research in order to get a certain response from consumers (in this case, potential students). Given resources that many companies have, consumers are often no match; they can be manipulated. It seems that the dark side of for profit institutions can be seen in for profit universities as well.
State launches investigation into career universityFlorida Metropolitan University (also Florida Metropolitan University) states that they are in compliance with applicable regulations, but when SEC launches investigation, the business is doing something problematic. It is rare that SEC investigates just because they want to obtain information or understand how the business operates.
Jane Meinhardt
Florida's Attorney General's Office is investigating Florida Metropolitan University.
FMU has four campuses in the Tampa Bay area.
The university is a wholly-owned subsidiary of Corinthian Colleges Inc., a for-profit company based in California.
The publicly traded company (NASDAQ: COCO) stated in a filing with the Securities and Exchange Commission Tuesday that it received "an investigative records subpoena" from the State Attorney General's Office on Nov. 17.
Source - Tampa Bay Business Journal
The subpoena apparently involves FMU's (also FMU) advertising and marketing practices. Many for profit institutions' (companies) advertising and marketing practices have problems; it is unfortunately not inaccurate to say that advertising and marketing are done in such a way that they manipulate consumers, in this case, potential students. Advertising and marketing have changed fundamentally over the last 10 years or so. Advertising and marketing are so much more sophisticated today; for profit institutions (companies) hire psychologists. They experiment different patters. They conduct elaborate research in order to get a certain response from consumers (in this case, potential students). Given resources that many companies have, consumers are often no match; they can be manipulated. It seems that the dark side of for profit institutions can be seen in for profit universities as well.
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