Kenan-Flagler Business School at the University of North Carolina at Chapel Hill plans to launch an online-only MBA program this July. The school has forged a unique partnership with 2tor, a for-profit company led by John Katzman, the same person who founded "The Princeton Review." Katzman has become an educational reformer of sorts. With 2tor, he is attempting to change how institutions transfer their most rigorous academic programs to the virtual world. The timing of the partnership certainly could not be better. Employment figures for MBAs from the class of 2010 are approaching the pre-recession levels of 2007, according to the Graduate Management Admission Council. Four other universities have gone public with plans to launch new online-only MBA programs this year: (1) Crown College (Minnesota); (2) New England College of Business and Finance (Massachusetts); (3) SUNY Oswego (New York); and (4) North Carolina State University. The desire to push forward with an online MBA program is understandable. Many of the people who are most likely to want a business degree are already embarked on their careers and established in their communities. For many of these potential applicants, the idea of uprooting themselves to attend a business school--no matter how acclaimed--somewhere else is not appealing, especially if an alternative exists. (Contains 12 online resources.)