were exported; drugs and greed ruled; social awareness was replaced by political correctness, student activism by ambition, and real work by sitting in front of a PC clicking on investments.
The University of Central Lancashire (UCLAN) could become the first mainstream higher education institute to become a private company.
UCLAN announced to staff last week that it is seeking to dissolve its corporate form to become a private company, raising fears among staff that the institution could become a for-profit enterprise
‘Private equity’s undisclosed business model is value capture through financial engineering focused on the enrichment of a managerial elite, with mass investors mainly involved in providing the cheap debt which makes the whole thing possible.’ Julie Froud and Karel Williams, Private Equity and the Culture of Value Extraction, New Political Economy, 2007