My background: I have taken online courses (through a UC and a community college), and I teach at a community college and half of my courses are offered online. In answer to your questions:

1) Accreditation: Yes, it means something–big time. If one goes to an unaccredited school, the units won’t transfer; the degree is simply an expensive piece of paper; public funding is not available; the units earned will not count toward licensure or certification, as required in some fields; and the minimum standards necessary for what is considered a "quality" education have not been met. "Quality" refers to specific educational standards. See this link to the US Dept. of Ed. for more information, and links to accreditation agencies: http://www.ed.gov/admins/finaid/accred/index.html

2) Online education: Just as or sometimes more rigorous than traditional brick-and-mortar courses, so long as they are offered at an accredited institution. At my college, the research department found that the students who select online courses are the better students in the institution (earning higher grades) in BOTH the courses they take on campus and the courses they take online. In other words, the students choosing to take online classes are the ones who, in the traditional class, tend to set the curve I think this is because the online courses require more discipline, and thus, a higher level of commitment and perseverance, so those students with those qualities select the online challenge. But I digress.

3) Fortune 500 company: No, I do not work for a Fortune 500 company; however, given the competitive nature of those businesses and the demanding nature of the online learning environment, I can see how those compliment one another.

I hope that information helps you some.