Charter School Gravy Train

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JIM CURRAN
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Joined: Fri Oct 31, 2003 7:18 am

Charter School Gravy Train

Post by JIM CURRAN » Mon Sep 23, 2013 2:21 pm

Charter School Gravy Train Runs Express To Fat City


On Thursday, July 25, dozens of bankers, hedge fund types and private equity investors gathered in New York to hear about the latest and greatest opportunities to collect a cut of your property taxes. Of course, the promotional material for the Capital Roundtable’s conference on “private equity investing in for-profit education companies” didn’t put it in such crass terms, but that’s what’s going on.


(Getty Images via @daylife)

Charter schools are booming. “There are now more than 6,000 in the United States, up from 2,500 a decade ago, educating a record 2.3 million children,” according to Reuters.

Charters have a limited admissions policy, and the applications can be as complex as those at private schools. But the parents don’t pay tuition; support comes directly from the school district in which the charter is located. They’re also lucrative, attracting players like the specialty real estate investment trust EPR Properties EPR -0.04% (EPR). Charter schools are in the firm’s $3 billion portfolio along with retail space and a megaplexes.

Charter schools are frequently a way for politicians to reward their cronies. In Ohio, two firms operate 9% of the state’s charter schools and are collecting 38% of the state’s charter school funding increase this year. The operators of both firms donate generously to elected Republicans

http://www.forbes.com/sites/greatspecul ... -fat-city/

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