The Obama administration is cracking down on for-profit colleges for tempting students into taking (and defaulting on) student loans. One company that's suffering is The Washington Post Company, whose profits have long been coming from its Kaplan educational unit, not the newspaper. In the Business section of Sunday's Post, reporters Steven Mufson and Jia Lynn Yang explored the tension, but the real grist came at paragraph 13 (inside the section's front page):
One past director of The Post Co.’s board said that members were better versed in media than education but that the lure of big profits was hard to resist.
Another, Dick Simmons, president of the company when it acquired Kaplan, said, "At a time when the largest part of The Washington Post Company, the....newspaper, was sinking, sinking, sinking, and here this relatively new player...was growing, growing, growing — how do you think anybody would react to that?"