For-Profit Owners Sell Lots of Stock

John Sperling, founder of the University of Phoenix, has sold more than $59 million in stock in the company, whose value has increased since the Obama administration released a version of regulations of the for-profit higher education industry that was much weaker than earlier versions, The Huffington Post reported. The website also reported that other major owners of for-profit higher education stocks have sold off significant holdings in recent weeks. Donald Graham, for instance, sold $12.5 million in Washington Post Company stock. (The company owns Kaplan University.)