I wonder why big companies like IBM don't just acquire large private universities and offer a traditional 4 year co-op experience.

They could subsidize education and 'guarantee' a job at IBM upon graduation. And shift the curriculum as needed for the company, provided they give a typical core education that you would find at any typical 4 yr college.

Heck if they get a D1 football school they can pump a bunch of money into it and leverage the exposure for advertising.