From Junk Bonds To Junk Schools: Cyber Schools Fleece Taxpayers For Phantom Students And Failing Gradesposted on 06 Oct 2013 07:24 by scarictrindantca
Pa. Cyber Charter School fires most top managers
It's called 'for-profit' for a reason." The Big Short: Wall Street Turns on K12 Inc. For K12 Inc. CEO Ron Packard, it's all about "educational liberty." "Kids have been shackled to their brick-and-mortar school down the block for too long," he puffs. Packard himself is "shackled" to the big bucks.In 2013, K12 Inc. took in $848.2 million from its business, with $730.8 million coming from its "managed public schools" (a.k.a.
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"I have so much confidence in the folks that work here, and I told them at a meeting [Tuesday] that it needs to continue," he said. The removal of so much of the top management, though, could have ripple effects, said Ralph "Jerry" Longo, an associate professor at Pitt's school of education and former superintendent of the Quaker Valley School District. "I think when you remove that number of people who are in charge of an organization, obviously there's an impact through the ranks. Everyone becomes nervous with his or her situation." Along with Mr. Oberg, 43, the board terminated finance director Scott Antoline, personnel director Nancy Yanyanin and compliance officer Judy Shopp. Also dismissed is law firm Barry & Worner of Green Tree, whose attorney, W.
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