Michael Milken, the disgraced US junk bond king, has teamed up with Larry Ellison, Oracle?s chairman, to offer Internet-based corporate training courses for IT personnel.
Milken, who is well known in the US business world, was fined $47 million last month by the Securities and Exchange Commission for repeatedly breaching a 1991 life ban from operating in the securities industry.
While he previously served two years in prison and had to pay a $1 billion in fines due to his involvement in an insider trading scandal, company bosses have continued to seek his advice on how to operate in the securities world.
But, according to US reports, Milken has now teamed up with Ellison to offer distance learning courses via his Knowledge Universe Web site. Users either log onto the site or upload software and receive their instructions onscreen.
The courses will focus on helping programmers, systems analysts and computer engineers brush up on their IT skills, but are far cheaper than traditional classroom teaching.
But all has not been plain sailing for Knowledge Universe. Last October, Milken hired Joseph Costello, former chief executive officer of Cadence Design Systems, who left soon after following a disagreement.
Costello claimed Milken had promised to make him CEO, but the company was instead run by a five-man committee. He also disagreed with Milken on the future direction of the company, believing it should grow organically. Milken felt it should grow by acquisition and via deals.
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