One for-profit college is spending a lot of money to make sure that people see its ads.

The University of Phoenix spent the most money on Google Adwords -- roughly $170,000 per day -- in the third quarter of 2012, according to a recent report by Wordstream, an online advertising consulting firm, cited by the Daily Mail. Ask.com, Amazon.com, Zappos.com and Hotels.com came in second, third, fourth and fifth, respectively.

The for-profit college has faced some hard times recently. Officials announced earlier this month that the college plans to close 115 locations, since its parent company's profits have plunged because of higher costs and falling enrollment at the for-profit college, according to the Associated Press. About 328,000 students are currently enrolled at the University of Phoenix, down from a high of 400,000 students. Enrollment at for-profit colleges has fallen across the country too.

That could be because some people are concerned about taking on student loan debt. The University of Phoenix has a student loan default rate that is nearly twice as high as the average at all universities, according to the Education Department: a problem that has plagued many graduates of for-profit colleges.

The University of Phoenix still is making plenty of money though. Its parent company, Apollo Group, raked in a profit of $52.6 million in June, July and August, down from a profit of $189.7 million during the same period last year.

Earlier on HuffPost:

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  • 8. Kodak

    <strong>Years on Fortune 500:</strong> 58 <strong>Peak Fortune 500 rank:</strong> 18 (1989, 1990, 1992) <strong>Peak revenue:</strong> $20.6 billion (1992) <strong>Status:</strong> In bankruptcy Eastman Kodak developed the digital camera in 1975 but did not invest in the technology for fear it would undercut sales of its film business — Kodak’s executives did not foresee the eventual decline of film. Only when film’s popularity began to wane in the mid-1990s in favor of digital photography did the company push into the digital market. But competitors such as Fuji and Sony entered the market faster and Kodak was never able to fully capitalize on the product it actually invented. By 2001, the company was in second-place to Sony in the digital camera market, but it lost $60 on every camera sold. By 2010, it ranked sixth in the digital camera space, which itself began to dwindle with the advent of smartphones and tablets. Eastman Kodak shares peaked in 1997 at more than $94 per share, proof that it often takes a number of years for poor decisions to destroy huge corporations. By 2011, the stock had dropped to 65 cents per share, and the company filed for bankruptcy in December of that year. Kodak, always one the Fortune 500 companies, might not even make the 2013 list. <a href="http://247wallst.com/2012/10/17/the-worst-business-decisions-of-all-time/#ixzz29mHnlGZj">Read more at 24/7 Wall St.</a>

  • 7. RCA

    <strong>Years on Fortune 500:</strong> 28 <strong>Peak Fortune 500 rank:</strong> 15 (1968) <strong>Peak revenue:</strong> $8.0 billion (1980, 1981) <strong>Status:</strong> Bought out Consumer electronics manufacturer RCA was highly regarded through most of its history as particularly innovative — the company was the first to sell electronic televisions to a wide market. Yet, from the mid 1960s and into the 1970s, the company began to diversify beyond the scope of its traditional business. Its expansion was so rapid and so far flung that the company has become unmanageable. It bought a motley collection of companies, including publisher Random House in 1965, car rental company Hertz in 1967 and frozen food maker Banquet in 1970. The company even tried to make a push into IBM’s territory with mainframe computers. While it diversified, the company scaled back research and development spending on its core product lines. When these acquisitions proved unsuccessful, RCA announced that it would return to focus on its traditional products, which mostly consisted of color televisions. By then, however, the company had to compete with Asian manufacturers that made cheaper consumer electronics goods. The company was eventually sold to General Electric Co. (NYSE: GE) in 1986. <a href="http://247wallst.com/2012/10/17/the-worst-business-decisions-of-all-time/#ixzz29mHnlGZj">Read more at 24/7 Wall St.</a>

  • 6. American Motors

    <strong>Years on Fortune 500:</strong> 33 <strong>Peak Fortune 500 rank:</strong> 38 (1961) <strong>Peak revenue:</strong> $4.2 billion (1984) <strong>Status:</strong> Bought out By the time car manufacturer American Motors was absorbed by Chrysler in 1987, the company had been on a decline for more than 20 years. American first began to report losses in the mid 1960s. At the time, it failed in its efforts to compete with General Motors and Ford Motor Co. by expanding into large cars that could generate better profits per vehicle. Despite the losses, it was able to stay afloat through the next decade after it bought the Jeep brand in 1970 from Kaiser. But a weak economy hurt Jeep sales and began to restrict the company’s cash flow in the late 1970s. Additionally, overseas automakers began to pose a major threat. Japanese auto companies, which began to heavily market small cars in America, manufactured them in Japan where auto worker wages were much lower than in the United States. All American car companies, including American Motors, had long-standing labor agreements in place that dictated relatively higher salaries in the 1980s. American Motors lost money in all but one of the years between 1980 and 1986. <a href="http://247wallst.com/2012/10/17/the-worst-business-decisions-of-all-time/#ixzz29mHnlGZj">Read more at 24/7 Wall St.</a>

  • 5. Kmart

    <strong>Years on Fortune 500:</strong> 11 <strong>Peak Fortune 500 rank:</strong> 15 (1995) <strong>Peak revenue:</strong> $37.0 billion (2000) <strong>Status:</strong> Merged Kmart’s big mistake in the mid-to-late 1990s was to try to compete with Walmart on price. Walmart had a supply chain system known as “just-in-time” inventory, which allowed the retailer to restock shelves efficiently. Kmart failed to implement a similar system, which meant consumers became frustrated when stores ran out of goods. Between June 1998 and June 2000, Walmart’s stock price rose 82% as Kmart’s fell 63%. While new management at the turn of the decade worked to improve efficiency, the company filed for bankruptcy in 2002 and shut hundreds of stores. Kmart merged with Sears Roebuck in 2005. <a href="http://247wallst.com/2012/10/17/the-worst-business-decisions-of-all-time/#ixzz29mHnlGZj">Read more at 24/7 Wall St.</a>

  • 4. Digital Equipment Corp.

    <strong>Years on Fortune 500:</strong> 25 <strong>Peak Fortune 500 rank:</strong> 27 (1990, 1993) <strong>Peak revenue:</strong> $14.6 billion (1996) <strong>Status:</strong> Bought out The fortunes of Digital Equipment Corp., maker of commercial electronics known as minicomputers, began to decline in the 1990s. DEC was successful because its products were priced below mainframes, which were made primarily by International Business Machines Corp. DEC controlled the minicomputer market from the mid-1960s until the early 1990s but failed to enter the workstation and personal computer markets quickly. When DEC finally decided to get into PCs, it tried to use its own operating platform, VMS, without success. Meanwhile, companies such as Hewlett-Packard Co. and Sun Microsystems were able to gain market share in workstations by using UNIX operating system, which allowed for many more software applications than VMS. Meanwhile, computers from Hewlett-Packard and IBM, which were based on the Intel Corp. blueprint and Microsoft Corp. OS, began to dominate the PC market in the late 1980s. Between 1991 and 1996, DEC lost money every year except for one, including more than $2 billion in 1992 and 1994. After joining the Fortune 500 in 1974, the company peaked in 1993 at 27th. In just six years, it fell to 118th place before Compaq bought it out in 1998. <a href="http://247wallst.com/2012/10/17/the-worst-business-decisions-of-all-time/#ixzz29mHnlGZj">Read more at 24/7 Wall St.</a>

  • 3. Firestone

    <strong>Years on Fortune 500:</strong> 34 <strong>Peak Fortune 500 rank:</strong> 24 (1956) <strong>Peak revenue:</strong> $5.3 billion (1979) <strong>Status:</strong> Bought out Firestone began manufacturing radial tires in 1972 to lengthen the life of the products. The company used a new technique to get its tires to market ahead of competitors. That year, after Firestone’s tire was in production, company documents reported that the rubber came off the wire when the tire was in use. Despite these problems, the company continued to manufacture the tires throughout the 1970s to satisfy demand from customers like General Motors. But following pressure from the government and consumer advocacy groups that were concerned about the safety of the tires, the company recalled approximately 10 million tires in 1978. Initially, Firestone blamed tire failure on substandard maintenance by the consumer. However, an investigation by the National Highway and Traffic Administration in 1980 found that Firestone was actually aware of the defective products, citing to the 1972 documents.This lead to lawsuits and negative publicity that hurt earnings and sales. Although the stock bounced back from its low of $6.25 in April 1980, shares were still below their 1969 peak of $33.25 when Bridgestone successfully bid for the company in 1988. <a href="http://247wallst.com/2012/10/17/the-worst-business-decisions-of-all-time/#ixzz29mHnlGZj">Read more at 24/7 Wall St.</a>

  • 2. Lehman Bros.

    <strong>Years on Fortune 500:</strong> 14 <strong>Peak Fortune 500 rank:</strong> 37 (2008) <strong>Peak revenue:</strong> $59.0 billion (2007) <strong>Status:</strong> Went bankrupt During the final few years of the housing bubble, Lehman Brothers increased the amount it borrowed to buy more mortgage-backed securities and real estate. By 2007, the company’s leverage ratio was at least 31-to-1, meaning it borrowed $31 for every $1 in equity. This brought Lehman Brothers huge profits in the boom era but became a serious problem once the housing bubble burst. The firm was unable to unload those assets onto the market once home and commercial real estate prices began falling, leading to unsustainable losses. While other investment banks, including Goldman Sachs Group Inc. and Morgan Stanley, were heavily leveraged as well, they were able to survive by becoming bank holding companies eligible to receive the necessary emergency funds from the government to continue operations. Those aid programs however, became available too late for Lehman, which went bankrupt in 2008. A federal-bankruptcy-court-sponsored report later found that Lehman and its accounting firm partner, Ernst & Young, used misleading accounting tactics to conceal the extent of Lehman’s overleveraging, which the authors claimed was as high as 44-to-1. Both Lehman executives and Ernst & Young denied these claims. Between 1999 and 2007 Lehman’s revenue grew from less than $19 billion to more than $59 billion. During that time, the company’s rank on the Fortune 500 rose from 88th to 37th. <a href="http://247wallst.com/2012/10/17/the-worst-business-decisions-of-all-time/#ixzz29mHnlGZj">Read more at 24/7 Wall St.</a>

  • 1. Motorola

    <strong>Years on Fortune 500:</strong> 56 <strong>Peak Fortune 500 rank:</strong> 23 (1994) <strong>Peak revenue:</strong> $43.7 billion (2006) <strong>Status:</strong> Split, Mobility unit sold The success of the thin and stylish Razr cellphone drove Motorola’s 22 percent market share in mobile phones in 2006. However, the company failed to launch a new generation of smartphones leveraging the Razr brand, and by 2007 the company was selling the traditional cellphone at a discount. By the time the company released a new line of Razr phones in 2010, Motorola had to compete with products such as the iPhone and BlackBerry. While sales in 2006 were more than $43 billion, they were only $22 billion by 2010. Between October 2006 and March 2009, the company’s shares fell more than 90 percent from over $107 to less than $13. Motorola Mobility, now owned by Google Inc., had 11.2 percent market share of mobile phones in Aug. 2012, according to comScore. Apple Inc.’s iPhone, released in 2007, had a 17.1 percent market share. <a href="http://247wallst.com/2012/10/17/the-worst-business-decisions-of-all-time/#ixzz29mHnlGZj">Read more at 24/7 Wall St.</a>