My soon-to-be former boss received his MBA from the University of Phoenix a few years ago (just before I started working there). Sometimes in conversation, he'll say, "oh, when I was in B-school," and I'm all, "Wha? You mean when you were sitting at your desk?"
Do y'all know how hard that was for me? It was one indicator that the culture of that company and I are a bad match.
And, no. That UOPX education did NOT teach him anything about being a good manager. For far less, he could have gone to an Executive MBA program at one of the local colleges and actually had a real MBA experience...and, isn't half of the MBA experience meeting and networking?