I've always had a fascination with the Prohibition Era. For years the country and the temperance movement continued to work the political landscape to drive their initiatives. One interesting aspect was the division of the industry as a whole. This consisted of the Brewers Association and the spirits Association. The Brewers insisted that the product was not harmful and also healthy (yes, they coined the term "liquid bread") thus less of a threat than their counterparts. By ignoring the momentum upon the nation, the Brewers sat by the sidelines until the movement became so momentous that they had no choice but to join their colleagues - and then it was too late. Ultimately prohibition was passed on all alcohol consumption.
OK, call that an extreme analogy, but I can't help but sit back and watch traditional higher education sit on the sidelines and hope they are ignored by watching government move forward so aggressively against proprietary higher education. The parallel legal ramifications that the Department of Education directly appears to be putting into place certainly bring the traditional higher education colleges and universities into the fold at some level. By sitting on the sidelines and watching, traditional colleges and universities put themselves in the same exact position as the Brewers Association over 100 years ago.
Ideally, I would like to see a unified front from all academic institutions to note the government's upcoming proposed legislation around gainful employment. By sitting back and watching rather than teaming up with their "sinful competitors" they're potentially setting themselves up to be completely unprepared and blindsided with legislation that will affect them and severely jeopardize their own existence as they know it today.
Capital Round Table
Thursday, July 25, 2013
New York City
Our firm will be making its annual trip to the Capital Roundtable conference - Private Equity Investing in For-Profit Education Companies in New York City this week. Staff will be available for general and private consultations. President & CEO, John Assunto can be available to meet privately by contacting him directly at firstname.lastname@example.org
Meet the Team
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