Facing unprecedented budget cuts, the University of Tennessee has decided to eliminate all academic programs and concentrate on sports and student housing.
"These are our only real moneymakers," said U.T. President John Petersen. "The free market has spoken, so we will focus on our core competencies and outsource the rest to Phoenix Online University and the ITT Technical Institute," said Petersen.
Gov. Bredesen applauded the decision, saying that Petersen's "brilliant plan" is "exactly the type of innovative thinking we need to lead our state out of this budget quagmire and into the future."
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