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Thanks for reminding us of Whittle's Edison Schools fiasco. Privatization of public education money is a recipe for corruption that benefits only elite multimillionaires and the politicians they own. Vouchers and the edu-reform business in NOT about OUR children.
Edison has drained taxpayer money in FL and NY with no accountability and a failed education model. Parents in NYC tracked its web of taxpayer bailouts by tracing Edison's Chris Cerf, CEO in FL who bankrupted Edison. Jeb Bush as governor pulled a Jimmy Hoffa move by stealing, I mean "borrowing" from the state retirement funds to bail out Edison. Hmmm, using public money to bailout corporate fraud and mismanagement? Sounds strikingly familiar... http://nycpublicschoolparents.blogspo...
"A little background: Cerf was originally employed by Edison Schools, a for-profit charter management chain, between May 1997 until April 2005, rising to be the President and COO of the company. Though in many cases they used pressure tactics to charge districts more than average per pupil funding for their services, Edison utterly failed to make a profit or to create effective schools.The company was eventually saved from bankruptcy when it was taken private in 2003, in a buyout by a private company called Liberty Partners, a deal facilitated by Jeb Bush, who as Governor of Florida, invested billions of the state teacher’s pension fund in the company at the same time."
Read the entire post on Cerf and prepare for similar schemes to be cooked up in TN with our money: no transparency and no accountability for the little people.
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