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Michigan public employees pension fund buys into private for-profit school corporation? ... WTF?

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Bozita Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Jul-18-09 01:12 PM
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Michigan public employees pension fund buys into private for-profit school corporation? ... WTF?
This is a crosspost from GD.


http://www.mlive.com/news/grand-rapids/index.ssf/2009/0 ...

American Education Group gets $10M investment
by Shandra Martinez | The Grand Rapids Press
Saturday July 18, 2009, 4:42 AM


GRAND RAPIDS -- In less than three years, American Education Group has taken the lead in the growing business of specialized private education.

The Grand Rapids firm's collection of preschool, primary and secondary schools now number 16 in six states.

While most of AEG's 300 employees work outside Michigan, the company is considered a potential star in the state's changing economy.

A sign of that is Michigan Opportunities Fund's $10 million investment in the company -- the first to come out of the $150 million fund.

Fed by the state's pension workers system, the money pool is part of the Invest Michigan program introduced by Gov. Jennifer Granholm 18 months ago to spur business growth.

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