There is an audition for the University of Phoenix this weekend that is listed on various online classifieds and social networking sites that may hurt your career if you work it. The notice specifically states "No Agent" (please do not audition if you're signed with an agent). There is a reason why agents do not want talent working on forever buyouts and that reasoning should extend to up and coming talent without an agent as well.
Let me explain the issue...
The University of Phoenix is a member institution of The Apollo Group, a public company that is traded on the NYSE. Last year, 2007, they had revenue of 2.7 BILLION DOLLARS! They are offering talent $300.00 for a FOREVER buyout for the session and your image and therefore your endorsement! This limits the talent from ever accepting any work from any competitor FOREVER! In this business it is called a "conflict of interest".
THIS KIND OF WORK HURTS THE ENTIRE INDUSTRY AND ALL THOSE INVOLVED SHOULD BE ASHAMED OF THEMSELVES AND HAVE A HARD TIME SLEEPING AT NIGHT, THOSE INVOLVED AT THE UNIVERSITY OF PHOENIX INCLUDED.
Please pass along this warning to naive unrepresented talent.