False Profits

Things have been a bit tougher on for-profit universities since the government got more selective about which colleges qualified for student aid (and could then make millions while their woefully unprepared students spent their post “college” years taking a never-ending course called Debt 101). Some of the schools shut down. Others came up with a way to keep raking in good money. As the NYT’s Patricia Cohen reports, they turned a tidy profit by going non-profit.

+ In 2009, self-help guru James Arthur Ray urged some of his followers to stay in an increasingly hot sweat lodge and “to surrender to death to survive it.” Sadly, three of the people did not survive their surrender to death and Ray was sentenced to a couple years in prison. What does an ex-con self-help guru do when he gets out of the joint? As Bloomberg’s Matt Stroud explains, he’s making a comeback with a new self-help program based largely on his experiences behind bars.

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