First Buy Myers University, Then Put Seven Socks On the Octopus

So . . . "It's a unique non-profit business failure saved from closure in the nick of time by a special form of receivership." Significant Partners purchased Myers University in a 'distress sale' situation and intend to turn it into a for-profit. Now what? "The Higher Learning Commission has life or death power over the institution's future as its re-accreditor for the change of ownership. They have been incredibly helpful and receptive since our announcement last week, for which we're grateful. The Ohio Board of Regents have approval power. And because we're going to convert Myers into a for-profit entity, we'll need an approval from the State Board of Career Colleges and Schools. The U.S. Department of Education will also be involved when ownership changes. I feel like I'm putting seven socks on an octopus." Read about it in The Greentree Gazette.