Quick Takes: MacArthur Names 'Genius' Fellows, Mellon's $10 Million in Katrina Aid, Downturn for Apollo Group, Another ITT Lawsuit Dismissed

September 20, 2005
  • The John D. and Catherine T. MacArthur Foundation today named 12 professors among its 25 new fellows, who will receive $500,000 in "no strings attached" support over the next five years. The academic fellows are: Terry Belanger of the University of Virginia, Lu Chen of the University of California at Berkeley, Claire Gmachl of Princeton University, Sue Goldie of Harvard University, Pehr Harbury of Stanford University, Nicole King of Berkeley, John Kleinberg of Cornell University, Michael Manga of Berkeley, Todd Martinez of the University of Illinois at Urbana-Champaign, Kevin M. Murphy of the University of Chicago, Olufunmilayo Olopade of the University of Chicago, and Emily Thompson of the University of California at San Diego. Complete biographies of all the fellows will be available today on the foundation's Web site.
  • The Andrew W. Mellon Foundation will contribute $10 million to help colleges and cultural institutions recover from Hurricane Katrina, it announced Monday. Mellon's board approved $5.3 million in grants to higher education Saturday, including $800,000 to Dillard University and $1.2 million to Xavier University of Louisiana, both of which were badly damaged; $2.8 million to the Southern Education Foundation, Inc., which will in turn make grants to historically black colleges in Atlanta and elsewhere in the region to help them accommodate evacuated students; and $500,000 to the Associated Colleges of the South to help two of its members, Centenary College of Louisiana and Millsaps College, in Mississippi.
  • The Apollo Group, the parent company of the University of Phoenix, reported lower-than-expected profits for its fourth quarter and 2005 fiscal year and projected results for next year that were lower than previous estimates. In a news release, the company blamed the results on an unexpectedly high proportion of its students enrolling in its Western International University Axia College program, which generates less revenue per student. The company's report caused its stock to fall by 5 percent, the Associated Press reported.
  • An Indiana judge on Friday dismissed all claims in a broad shareholder lawsuit against ITT Educational Services Inc., the higher education company said in a federal filing Monday. This is the second such announcement ITT has made in a week about the discharge of major lawsuits against it.
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