FIRST ENRON, NOW EDISON: SCREWING TEACHERS (AND ALL FRS MEMBERS) WITH THEIR OWN MONEY - This AP story boggles the mind:
A money manager that invests part of the state's $92 billion pension fund has bought a for-profit school management company, a move being questioned by critics who say Edison Schools Inc. isn't a good investment.
One of the main critics is the union for Florida's teachers - who make up nearly half the members of the state pension fund. Union members were "astonished" to learn that $174 million of their retirement money is being used to finance the buyout of a private company that manages public schools - potentially costing some union teachers their jobs.
Mark Pudlow, a spokesman for the Florida Education Association, also questioned whether buying out Edison was a good deal for the pension fund.
"Edison's history is one of quarterly loss after quarterly loss," Pudlow said. "Since 2001, their share price has dropped from $36 to less than $2 a share."
As for our "Jeb!":
Bush said Thursday that he had nothing to do with the investment and never gets involved in individual investment decisions by the pension-fund managers. . . . Democrats and other critics questioned that, however, suggesting that Bush and the other trustees should have a better idea of what the state pension fund is being invested in. Last year, the pension fund lost about $300 million when it invested in tumbling Enron stock.
THE WONDERFUL PRIVATE SECTOR AT WORK -Federal bankruptcy court documents show the link between a private school and an Ocala foundation under investigation for its use of $400,000 that was supposed to go to educate poor children, a newspaper reported Thursday. "Link between school, foundation probed". See also "Scholarship investigation widens".
HORNE'S HUBRIS -Gov. Bush can veto bills the Legislature passes. But who knew that Education Secretary Jim Horne had the power to veto bills? As he sees it, Mr. Horne is so powerful that he can veto laws even after Gov. Bush signs them. "Horne makes own rules, and public schools suffer".
WATER POLITICS -The possibility of piping water from rural North Florida to populated South Florida appeared to gain support Thursday with recommendations from a business group with close ties to Gov. Jeb Bush. "State water board recommended". And "enviromentalists" aren't the only ones who are concerned:
The Council of 100's recommendations have already drawn fire from opponents in water-rich North Central Florida who claim "partnerships" will become little more than veiled water grabs by resource-depleted South Florida developers.
In recent weeks, regional government's have taken steps to protect their resources. In Hawthorne, for example, city commissioners adopted a resolution earlier this month opposing the Council's water governance and transfer plan.
"The fact they are even setting into motion a plan to privatize a public resource is abominable," City Attorney Curt Levine said at the time. "It's just another circumstance of state government privatizing state resources."
OUCH! -America's most famous elections chief held her first fund-raiser Thursday to begin a reelection campaign that's likely to revive memories of Palm Beach County's role in the 2000 presidential recount. "LePore launches campaign fund-raisers".