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Shock Comes to Harlem 2010 046

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Apollo Group (ticker: APOL) which owns Phoenix University, the nation's largest for-profit education company, as seen its stock decline approximately 39% from the end of 2009 to it's December 7, 2010 closing price of $36.97/share.  For-profit education companies have come under fire by the U.S. Department of Education for leaving mostly poor students with high debt levels and dim job prospects after the graduation.  Meanwhile, the companies receive over $26 billion annually in government aid to support their programs and make them whole on student loan defaults.  That said, there is speculation that Apollo will be removed from the NASDAQ 100 when it does it annual re-ranking on December 10th(, putting further downward pressure on the stock.  The NASDAQ 100 is a stock market index of the 100 largest non-financial companies on the NASDAQ, ranked by market capitalization.

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