How valuable is an online degree?

Here's an article I found on MSN today that raises the question, "Who would hire an onine grad?" They asked a number of well known Fortune 500 companies this question, and the results can be found here: Jennifer Mulrean article

Another article that hits close to home--literally--and may be of local interest. Pamlico County News Text below:

Chief's degrees questioned: Officials downplay education's role in hiring of new Oriental police chief; master's, bachelor's on resume are from widely discredited Internet site by Tony Tharp

Oriental officials, who first plugged their new police chief's master's degree in criminology, reversed course and sought to downplay education's role after questions about the degree's legitimacy.

Police Chief Bobby G. Byrum, a former Pasquotank County deputy sheriff, was selected as the village's new chief on Oct. 25, in part, at least two town officials acknowledge, because his resume showed a bachelor's degree in criminal justice and a master's in criminology.

Both of Byrum's degrees were acquired from an Internet site known as St. Regis University, which claims to have accreditation from the West African nation of Liberia. The chief defended his studies as legitimate when reached by telephone last week, but an official with a statewide association of police chiefs said he sees a red flag. more-->