Still, the vultures are circling. There’s money to be made by siphoning taxpayers’ dollars to unaccountable charter and Catholic schools.
So today, wealthy donors gathered for a two-day conference ostensibly to “examine the most promising strategies to grow what works in all of a city’s schools—charter, district, and Catholic/private—and explore the challenges and benefits of a city-based, multischool sector strategy.”
My routine request to cover the conference was turned down by Cassandra McClellan, Meetings Coordinator for the Philanthropy Roundtable. McClellan wrote:
Thank you for your interest but our events are private and are not open to the media.
Isn’t that rich. A meeting to “increase the number of great K-12 options” is being held behind closed doors at the Union League. What are they hiding?
If they had any shame, they would want to hide the fact the co-founder of the Philadelphia School Partnership, which “will lead donors through a special discussion of investment strategies targeted at expanding great schools,” is looking for an investment strategy to escape bankruptcy.
PSP’s co-founder Michael O’Neill is Founder & CEO of Preferred Sands. The Wall Street Journal reported:
Preferred Sands Holding Co., a closely held supplier to oil-and-gas drillers, has hired restructuring advisers as it battles a high debt load and weak operating results, people familiar with the matter said.
The company may file for bankruptcy protection though it is still examining opportunities for an out-of-court restructuring, these people said. Barclays PLC—the company’s lender along with KeyBanc Capital Markets Inc.—could provide a debtor-in-possession loan in the event of a Chapter 11 filing, they added.
Now get this: In addition to leading his company to the brink of bankruptcy, O’Neill is a staunch supporter of Catholic schools. He is the Chairman of Business Leadership Organized for Catholic Schools. It strains one’s faith to suggest O’Neill has any interest in strengthening traditional public schools.
Public schools and voting are at the heart of our democracy. In the birthplace of our democracy, both institutions are under attack. In 2012, it was the assault on voting rights. Today, the same forces behind the push for restrictive photo ID laws are spearheading the assault on traditional public schools.