The Times-Picayune reports that principals are dropping like flies at a New Orleans network of privately managed charter schools. Three of the four network's principals and all four assistant principals have just been fired.
The overhaul represents tremendous turnover for the network of three charter schools operated by the University of New Orleans College of Education and Human Development, and a fourth school operated in partnership with the local state-run district. The leadership changes have unsettled some teachers and parents, according to former administrators at the schools who spoke on condition of anonymity.
The name of that charter school network? Capital One-University of New Orleans Charter Network. Capital One Financial Corporation is a Fortune 500 financial holding company and the largest independent issuer of Visa and MasterCard. They paid $1 million to get their name on these schools. It's a sweet deal--a lot cheaper than a bowl game sponsorship.
The company, whose stock was clobbered by its association with the sub-prime lending scandal finally had to jettison its mortgage company, GreenPoint, because of pressure from investors.
What a perfect partner for post-Katrina charters. Hope these principals know what’s in their wallets.
Principals and teachers are losing their jobs every day for doing something stupid. Find all the wild stories at http://detentionslip.org. Voted #1 for crazy education news.
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