April 9, 2011 |
Eleven years ago, one of Washington's most tradition-bound companies placed a bet that would transform its fortunes. The wager, by The Washington Post Co. and its Kaplan division, took the form of a $165 million purchase of an Atlanta-based chain of for-profit vocational schools that catered to low-income students. The bet was big — the price equal to the profits earned that year by The Post Co.'s print-media pillars: this newspaper and Newsweek magazine. So was the payoff.
March 21, 2013 |
Christopher Shea has written for the Atlantic, the Wall Street Journal, and the Chronicle of Higher Education, where he is a contributing writer. The last batch of this year's college acceptance letters is in the mail, and scary news stories about how much an education will cost are in the air. We've heard tales of liberal arts majors with six-figure debts and entire families condemned to loan payments for decades to come. One Web designer in his early 40s told Consumer Reports last...
July 26, 2009
Thanks to the government's rescue of the financial system, many banks and hedge funds are making money again, but this turnaround has caused a backlash among recession-weary Americans. How should these business leaders respond? Former congressman Mickey Edwards is vice president of the Aspen Institute, where he directs the institute's Rodel Fellowships in Public Leadership. For those who see themselves as having a higher calling, with concern about the country and not merely the corporation, here's one three-part...
July 31, 2011 |
As they encounter uncertainty about future Pentagon spending, some of the largest local defense contractors are already seeing sales and profits flatten. Lockheed Martin, the world's biggest defense contractor, last week reported that profit declined 11 percent in the three-month period ended June 26, compared to the same period a year ago. Still, quarterly revenue increased slightly, to $11.55 billion, and company officials attributed the earnings drop to the divestment of Pacific Architects and Engineers, which Lockheed sold in April.
July 29, 2012 |
A Senate committee that successfully pressed for tighter regulation of the for-profit higher- education sector published a report Sunday that said the business had put shareholders before students. As of 2009, the report said, three-quarters of students in for-profit colleges attended institutions owned either by publicly traded companies or private equity firms. It said the schools excelled at recruiting students, but not necessarily at retaining them: More than half of students at...
February 28, 2008 |
The Washington Post Co. 's 2007 profit fell 11 percent from 2006, as the continued revenue slide at the company's flagship newspaper offset its highflying education division, Kaplan, the company reported yesterday. The Post Co. earned $289 million ($30.19 per share) on $4.2 billion in revenue in 2007, compared with a $325 million profit ($33.68) on $3.9 billion in revenue in 2006, the company said. In the fourth quarter, profit was $83 million ($8.71) on $1.1 billion in revenue, down 13 percent from a profit of...