![]() ![]() According to Murphy, in 2004 "the University of Phoenix abandoned its founding mission of solely serving working adult learners to admit virtually anyone with a high school diploma or GED." In terms of revenues, University of Phoenix began relying less on corporate assistance and more on government funding. Murphy in his book Mission Forsaken: The University of Phoenix Affair with Wall Street. Senator Tom Harkin, who chaired hearings on for-profit colleges, said, "I think what really turned this company is when they started going to Wall Street." This sentiment was echoed by University of Phoenix co-founder John D. University of Phoenix's enrollment exceeded 100,000 students by 1999. In 1994, University of Phoenix leaders took the parent company, Apollo Group, public. Academic labor was faced with unbundling, where "various components of the traditional faculty role (e.g., curriculum design) are divided among different entities, while others (e.g., research) are eliminated altogether." Much of University of Phoenix's revenues came from employers who were subsidizing the higher education of their managers. In 1980, University of Phoenix expanded to San Jose, California, and in 1989, the university launched its online program. The first class consisted of eight students. University of Phoenix was founded in 1976 by John Sperling and John D.
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