Univ. of Phoenix feeling Wall Street's pressure to sell, sell, sell

University of Phoenix feeling Wall Street's pressure to sell, sell, sell Jon Talton Republic columnist Sept. 16, 2004 12:00 AM If the University of Phoenix were just a university, a scathing U.S. Department of Education report on its student recruitment practices would be a scandal. But for a Wall Street player, the investigation and its resulting $9.8 million fine are just a regrettable regulatory stumble. It's the merest french fry of small potatoes compared with, say, the $450 million settlement between the government and two mutual funds, AIM Advisors and Invesco, which were accused of giving special trading breaks to favored customers. More than anything else, the University of Phoenix is a unit of the Apollo Group, a publicly traded company. When you take Wall Street's money, you must take Wall Street's commands. In today's capital markets, there's a relentless push to improve profits so investors don't take their money elsewhere. In University of Phoenix's case, that means "aggregating" more enrollments.