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$65M deal to sell American Jewish University’s LA campus collapses, throwing school’s finances into question
(JTA) – The financial future of American Jewish University is in flux again after a plan to raise a reported $65 million by selling its 22-acre campus in Los Angeles to a Swiss education company fell through.
Nine months after the university announced a deal had been reached to sell the property, the prospective buyer, EF Education First, said it was pulling out and abandoning its plans to establish a language school for international students at the site because of the opposition of residents in the highly affluent neighboring community.
“This is obviously a disappointment, but we will regroup to ensure that we use our land and facilities in the best way possible,” AJU president Jeffrey Herbst said in an email to the campus community Wednesday.
Proceeds from the deal were expected to alleviate the financial pressures faced by AJU, which shut down its undergraduate program in 2018 and whose Conservative rabbinical school, like many other seminaries, has struggled to attract applicants. Under Herbst, the university dedicated itself to expanding its online educational offerings.
Only last month, AJU’s Ziegler School of Rabbinic Studies announced it would relocate to a leased space in a commercial office building in Pico-Robertson, a Los Angeles neighborhood with a large concentration of Jewish institutions and businesses. A spokesperson said AJU was not prepared to comment on what might happen to that plan given the cancellation of the sale.
In response to questions regarding the announcement, the university released a statement saying it would explore its options for the future of the campus. It is unclear whether the university will try to revive a previous offer from Milken Community School, a Jewish day school, to purchase the site for a reported $60 million, and whether Milken is still interested.
Milken’s head of school Sarah Shulkind declined to comment.
In a letter to the Los Angeles Planning Commission, which was overseeing the proposed conversion of the campus, EF blamed xenophobic complaints by neighbors for its decision to cancel the deal.
“Based on the comments we have heard and the letters submitted in opposition, it is crystal clear to us that there are individuals in the neighborhood who do not want international students in their community,” reads the letter signed by EF Vice President Shawna Marino. “This is the first time we have experienced this level of fear and bias.”
The company declined to respond to questions.
A leader of the local homeowners opposing the sale rejected the company’s characterization of the opposition and said neighbors were worried about the effects of the company’s plans to increase the level of activity at the site, including the housing of up to 700 students, especially in the case of an emergency evacuation in the wildfire-prone area. In one letter to the association, a resident of the adjoining development called the Education First plan “incredibly disturbing and dangerous” while saying that he wanted the land to be used by a school.
“Our concerns were always about safety, security and parking that logically flow from their high enrollment numbers,” Elizabeth Barcohana, vice president of a homeowners association representing nearly 100 nearby homes, told the Forward.
For some in Los Angeles’ Jewish community, the collapse of the sale revived previously abandoned hopes that the campus, with its major library and community ritual mikvah bath, would be handed over to another Jewish institution.
Immediately after the Jewish Journal broke the story of the deal’s cancellation on Wednesday, the Los Angeles newspaper’s publisher, David Suissa, published a short post saying that when Milken’s bid for the campus wasn’t accepted, “there was some bad blood” and that a new deal could bring reconciliation.
“We don’t always get second chances in life,” Suissa wrote. “This is one of them. Hanukkah seems to have come early for our community.”
A proposed law could open the door to other uses for the land. Spearheaded by a legislator who says he is driven by his Jewish identity, the California Senate recently voted to allow colleges and religious institutions to build affordable housing on their properties — even if they aren’t zoned for residential use. The legislation still needs approval from the California’s Assembly and governor. who has made the state’s housing crisis a top priority.
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Iran Supreme Leader Says Will Not Yield as Protests Simmer and US Threatens
Iran’s Supreme Leader Ayatollah Ali Khamenei speaks during a meeting in Tehran, Iran January 3, 2026. Office of the Iranian Supreme Leader/WANA (West Asia News Agency)/Handout via REUTERS
Iran’s Supreme Leader Ayatollah Ali Khamenei vowed not to yield after US President Donald Trump threatened to come to the aid of protesters, as rights groups reported a sharp rise in arrests following days of unrest sparked by soaring inflation.
Speaking in a recorded appearance on Saturday, Khamenei said the Islamic Republic “will not yield to the enemy” and that rioters should be “put in their place.”
State-affiliated media reported three deaths on Saturday, with rights groups saying more than 10 had already died in demonstrations across Iran since Sunday as the collapsing rial currency hits an economy already undermined by sanctions.
ECONOMIC CRISIS
Videos circulating on social media, which Reuters could not immediately verify, purported to show protests in southern and western Iran. In one, marchers called on other Iranians to come onto the streets, chanting “We don’t want spectators: join us”.
Mehr and Fars news agencies, both state affiliated, reported that a security forces member and two demonstrators were killed in Malekshahi, a western town, when what they called armed protesters tried to enter a police station.
Authorities have attempted to maintain a dual approach to the unrest, saying protests over the economy are legitimate and will be met by dialogue, while meeting some demonstrations with tear gas amid violent street confrontations.
“The bazaaris were right. They are right to say they cannot do business in these conditions,” said Khamenei, referring to market traders’ concerns over the currency slide.
“We will speak with the protesters but talking to rioters is useless. Rioters should be put in their place,” he added.
Reports of violence have centered on small cities in Iran’s western provinces, where several people have been killed, according to state media and rights groups. Authorities have said two members of the security services had died and more than a dozen were injured in the unrest.
Hengaw, a Kurdish rights group, said late on Friday that it had identified 133 people arrested, an increase of 77 from the previous day.
Trump on Friday said the US was “locked and loaded and ready to go” but did not specify what action it might take against Iran, where it carried out airstrikes last summer, joining an Israeli campaign targeting Iran’s nuclear sites and military leaders.
The threat of action adds to the pressure on Iran’s leaders as they navigate one of the most difficult periods in decades, with the sanctions-hit economy shrinking and the government struggling to provide water and electricity in some regions.
Iran has suffered a succession of major strategic blows to its regional position since the start of the war in Gaza in 2023 between its ally Hamas and Israel.
Israeli strikes hammered Iran’s strongest regional partner Hezbollah. Tehran’s close ally Bashar al-Assad was ousted in Syria. The Israeli and US assault strikes on Iran set back the expensive atomic program and killed senior military leaders, revealing extensive penetration of Tehran’s upper echelons.
FLARING VIOLENCE
The protests are the biggest since mass nationwide demonstrations in late 2022 over the death in custody of Kurdish woman Mahsa Amini. This week’s demonstrations have not matched those in scale, but still represent the toughest domestic test for authorities in three years.
Rights groups such as Hengaw and activists posting on social media reported continued protests and violence by security forces across Iran, while state-affiliated media reported what it called attacks on property by infiltrators “in the name of protest.”
State television reported arrests in western and central Iran and near the capital Tehran, including of people accused of manufacturing petrol bombs and home-made pistols.
Numerous social media posts overnight said there had been unrest in a number of cities and towns, as well as three districts of Tehran.
Reuters could not immediately verify the reports by rights groups, state media or social media accounts.
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Trump Says US Oil Companies Will Spend Billions in Venezuela
A photograph posted by US President Donald Trump on his Truth Social account shows him sitting next to CIA Director John Ratcliffe and US Secretary of State Marco Rubio as they watch the US military operation in Venezuela, January 3, 2026. Photo: @realDonaldTrump/Handout via REUTERS
President Donald Trump said that American oil companies were prepared to enter Venezuela and invest to restore production in the South American country, an announcement that came just hours after Nicolás Maduro was captured and removed by US forces.
“We’re going to have our very large US oil companies, the biggest anywhere in the world, go in, spend billions of dollars, fix the badly broken infrastructure, oil infrastructure, and start making money for the country,” Trump said on Saturday.
While Chevron is the only American major with current operations in Venezuela, Exxon Mobil and ConocoPhillips, among others, have storied histories in the country. The American Petroleum Institute, the largest US oil trade group, said on Saturday it was monitoring the emerging situation.
“We’re closely watching developments involving Venezuela, including the potential implications for global energy markets,” an API spokesperson told Reuters.
Chevron, which exports around 150,000 bpd of crude from Venezuela to the US Gulf Coast, said it is focused on the safety and wellbeing of its employees, in addition to the integrity of its assets.
“We continue to operate in full compliance with all relevant laws and regulations,” a Chevron spokesperson said in an emailed response to questions.
Top oilfield service companies SLB, Baker Hughes, Halliburton and Weatherford did not immediately respond to requests for comment. Exxon and Conoco did not immediately respond to questions from Reuters.
Trump’s plans to have large US oil companies enter Venezuela and get “oil flowing” will be hindered by lack of infrastructure that will require many years and heavy investment, analysts said. “There are still many questions that need to be answered about the state of the Venezuelan oil industry, but it is clear that it will take tens of billions of dollars to turn that industry around,” said Peter McNally, Global Head of Sector Analysts at Third Bridge, adding that it could take at least a decade of Western oil majors committing to the country.
A US embargo on all Venezuelan oil, meanwhile, remains in full effect, Trump said. He told reporters that the US military forces would remain in position until US demands had been fully met.
“The American armada remains poised in position, and the US retains all military options until United States demands have been fully met and fully satisfied,” he said.
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US Captures Venezuela’s Maduro, Trump Says US Will Run the Country
Smoke rises near Fort Tiuna during a full blackout, following explosions and loud noises, after U.S. President Donald Trump said the U.S. has struck Venezuela and captured its President Nicolas Maduro, in Caracas, Venezuela, January 3, 2026. REUTERS/Leonardo Fernandez Viloria
The US attacked Venezuela and deposed its long-serving President Nicolas Maduro in an overnight operation on Saturday, President Donald Trump said, in Washington’s most direct intervention in Latin America since the 1989 invasion of Panama.
“This was one of the most stunning, effective and powerful displays of American might and competence in American history,” Trump said at a press conference at his Mar-a-Lago resort in Florida, where he was flanked by senior officials, including Secretary of Defense Pete Hegseth and Secretary of State Marco Rubio.
Trump said Maduro was in custody and that American officials would take control of Venezuela.
“We’re going to run the country until such time as we can do a safe, proper and judicious transition,” he said. “We can’t take a chance that someone else takes over Venezuela who doesn’t have the interests of Venezuelans in mind.”
POTENTIAL POWER VACUUM
It is unclear how Trump plans to oversee Venezuela. Despite a dramatic overnight operation that knocked out electricity in part of Caracas and captured Maduro in or near one of his safe houses, US forces have no control over the country itself, and Maduro’s government appears to still be in charge.
The removal of Maduro, who led Venezuela with a heavy hand for more than 12 years, potentially opens a power vacuum in the Latin American country. Venezuelan Vice President Delcy Rodriguez — Maduro’s presumptive successor — is in Russia, four sources familiar with her movements said, stoking confusion about who is next in line to govern the South American country.
Russia’s foreign ministry said the report that Rodriguez is in Russia was “fake.”
Any serious destabilization in the nation of 28 million people threatens to hand Trump the type of quagmire that has marked US foreign policy for much of the 21st century, including the invasions of Afghanistan and Iraq – which were also premised on regime change.
The US has not made such a direct intervention in its backyard region since the invasion of Panama 37 years ago to depose military leader Manuel Noriega over allegations that he led a drug-running operation. The United States has leveled similar charges against Maduro, accusing him of running a “narco-state” and rigging the 2024 election.
Maduro, a 63-year-old former bus driver handpicked by the dying Hugo Chavez to succeed him in 2013, has denied those claims and said Washington was intent on taking control of his nation’s oil reserves, the largest in the world.
VENEZUELAN OFFICIALS DECRY U.S. ACTION
The streets of Venezuela appeared calm as the sun rose. Soldiers patrolled some parts and some small pro-Maduro crowds began gathering in Caracas.
Others, however, expressed relief.
“I’m happy, I doubted for a moment that it was happening because it’s like a movie,” said merchant Carolina Pimentel, 37, in the city of Maracay. “It’s all calm now but I feel like at any moment everyone will be out celebrating.”
Venezuelan officials condemned Saturday’s intervention. “In the unity of the people we will find the strength to resist and to triumph,” Defense Minister Vladimir Padrino said in a video message.
While various Latin American governments oppose Maduro and say he stole the 2024 vote, direct US action revives painful memories of past interventions and is generally strongly opposed by governments and populations in the region.
Trump’s action recalls the Monroe Doctrine, laid out in 1823 by President James Monroe, laying US claim to influence in the region, as well as the “gunboat diplomacy” seen under Theodore Roosevelt in the early 1900s.
Venezuelan allies Russia, Cuba and Iran were quick to condemn the strikes as a violation of sovereignty. Tehran urged the UN Security Council to stop the “unlawful aggression.”
Among major Latin American nations, Argentina’s President Javier Milei lauded Venezuela’s new “freedom” while Mexico condemned the intervention and Brazil’s President Luiz Inacio Lula da Silva said it crossed “an unacceptable line.”