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What's retirement? Well, as should be no surprise, the legendary former CEO of GE (NYSE: GE), Jack Welch, is redefining the concept. Basically, retirement means working on cool projects.For example, he recently put together -- with his wife Suzy -- a reality show on MSN.com. It's about the travails of running a business. Oh, and it's also about branded content; that is, Microsoft (NASDAQ: MSFT) pitches its technology on the show.
But, I guess this is a side thing for Welch. You see, according to a report in the Wall Street Journal [a paid publication], he has agreed to lend his name to a new online university. He has also agreed to invest $2 million in the venture, which is called Chancellor University System LLC.
It's likely to be an attractive investment. After all, the main investor is Michael Clifford. And he certainly has the golden touch. Over the past year, Clifford has taken two online universities public: Grand Canyon University (NASDAQ: LOPE) and Bridgepoint Education (NYSE: BPI). In fact, he has perfected an interesting formula: turning failed traditional universities into next-generation educators.
Of course, Jack and Suzy will focus on the MBA program and even construct the curriculum. All in all, it should help build credibility and boost admissions for the university. And, if history is any indication, Chancellor University System could be yet another online university to reach the public markets.
Tom Taulli is the author of various books, including The Complete M&A Handbook
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