(11-08-2019 12:15 PM)ProfScott Wrote:  

(11-07-2019 08:57 PM)Todor Wrote:  It's says in the article that the for profit arm which is still publicly traded, also run by Mueller, takes 60% of their revenue, and will for 15 years. I was shocked by that amount.

I'm waiting for the late night lawyer ads for a class action suit about those deceived by the non-profit part of their advertising.

Let me try and explain this in simple terms:
(1) Your uncle owns a company that is worth about 2 billion dollars.
(2) Your uncle agrees to sell this company to you. However, you cannot pay 2 billion dollars because you are just starting out in business.
(3) Your uncle has great faith in you so he still sells you the company with the agreement that you will pay him back over a 15 year period. Your uncle is also taking a huge risk that you will be successful over those 15 years.
(4) You now own a thriving business with name recognition, multiple multi-million dollar buildings, other assets, and a steady flow of income. Congratulations!
(5) However, you are in debt to your nice uncle for $2 billion dollars. You and your uncle work out a financial plan that gives your uncle 60% of income earned for the first 15 years in order for him to get his money back.
(6) Since you are young and new to the business, your uncle also agrees to take on some of the day to day responsibilities of the company during these 15 years. This service is also factored into the 60%.
Both uncle and nephew live happily ever after. The end.

Oh, we all got it from the get go... GCU may actually be non profit in 15 years. I take it the potential nonprofit GCU represents the young, new to business child that is such a huge risk. And uncle Guido is the loan shark socking it to you for billions in a scheme to "get his name off the books " while still pulling the strings from behind the scenes. Glad you cleared that up. We all thought as much. Nephew GCU is already 70--how old is this uncle of yours???