What does it mean that Jack Welch is going into the Education Business?

I've been on a little soapbox for a while about how selling certification is the best business in the world. Marginal costs are minimal. It's a monopoly market because the right sell certificates has no serious metrics and is granted by government. On line technology has made delivery costs negligible. As cert - selling businesses go out of business, their core value, the contract with the government, can be picked up for peanuts.

It seems Mr. Welch agrees.

Online education + printernet publishing of POD print is good place to be until the advertising business figures out what to do.

The Jack Welch MBA Coming to Web:
"Wall Street Journal
6/22/2009

Former General Electric Co. Chief Executive Jack Welch is putting his name and money behind a little-known educational entrepreneur, injecting some star power into the budding industry of online education.

Mr. Welch is paying more than $2 million for a 12% stake in Chancellor University System LLC, which is converting formerly bankrupt Myers University in Cleveland into Chancellor University. It plans to offer most courses online.

. . . Investor groups led by Mr. Clifford bought those three institutions out of troubled situations and converted them to primarily online universities