Reply #7: oh, please. buy a clue or two.

[Hannah Bell]

For Profit Charter School Chains Make Money with Questionable Real Estate and Management Deals

Charter schools are once again receiving unwanted scrutiny. Since its inception over a decade ago, reports of academic failures, management deficiencies and financial improprieties have dogged Ohio’s charter school program.

This time, our attention is drawn to two of the for-profit companies that operate charter school franchises throughout the state.

First, White Hat Management, Ohio’s largest for-profit charter school operator, was recently sued by the governing authorities of ten of its charter schools. Click here to view the complaint...The lawsuit alleges that White Hat has abused its unfettered control of each of its charter schools by maliciously breaching its fiduciary responsibilities by failing to account for its use of public funds and by using those funds for purposes other than providing for the education of students.

Second, Imagine Schools, Inc., the nation’s largest for-profit operator of charter schools, is the subject of a new study by Policy Matters Ohio. Report author, Piet Van Lier, paints a picture of a profiteering company that uses questionable leaseback arrangements to further enhance its bottom line at the expense of its students’ educational needs.

http://blog.ohea.org/for-profit-charter-school-chains-make-money-with-questionable-real-estate-and-management-deals/