Mormon investors announce they are purchasing Southern Virginia College (SVC), four months after it loses accreditation as a two-year school and one month before its closing, to turn it into a Mormon school without official sponsorship by LDS headquarters. The likely success of this unprecedented idea is indicated by its announcement in the Church News and choice of David Ferrel as the college's new president. He is a senior employee of recently appointed general authority Richard B. Wirthlin who formally endorses the school. Having arranged for LDS congressmen to pressure the accrediting association to reconsider its decision, the newly installed Mormon trustees announce that SVC will be a four-year college with a starting freshman class of 400 students who meet the same standards of conduct and entrance requirements as at BYU.
[The Mormon Hierarchy - Extensions of Power by D. Michael Quinn, [New Mormon History database (http://bit.ly/NMHdatabase)]]