Word: profit
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...cents] to 30[cents] goes to administration. Edison spends around 16[cents] and plans to cut that to 8[cents]. "The money we save on central costs goes to the schools, and a portion goes to the bottom line," Whittle says. His goal is a 7%-to-8% profit margin. "If we were simply going to cut overall costs," he notes, "we would not be viable." Whittle puts the magic number of schools that Edison needs to run in order to make a profit at 440, a figure that he expects to hit within five years...
Whittle has been criticized as a sort of Music Man of Education Inc. Previously, he started an advertiser-sponsored classroom TV news program, Channel One, which was castigated for its mercenary approach. Whittle sold Channel One to Primedia in 1994. The for-profit school idea is less corporately tainted--it's not brought to you by Coke...
...well does it all work when it comes to learning? While the grades aren't in on the long-term impact of for-profit schooling, early marks have been encouraging. Whittle says Edison students have raised their performance on standardized tests an average of 5 percentage points a year--a hefty gain at a time when many districts report little improvement. But not all Edison schools can show performance superior to public schools. Says Whittle: "We either make it or don't make it on the basis of test scores...
...elementary schools in 13 states, launched its first public school, the Philadelphia Academy Charter School, in a former airplane-parts plant last fall. Nobel plans to open at least five more charter schools by the end of the year. "There is absolutely no way you'll make a profit unless you have a quality program," says A.J. Clegg, CEO of Nobel, which earned $1.6 million on revenues of $110 million last year. New wrinkles at Nobel's Philadelphia school include lessons in Mandarin Chinese for every student from kindergarten to eighth grade. Why Mandarin? "It's the cash language...
...outlook for bank stocks couldn't be any uglier. We're a lock for higher short-term interest rates when the Fed meets March 21, and a rate boost or two after that seems likely before summer. Rising short-term rates squeeze bank profit margins and, more important, dampen loan demand. That's why bank stocks have been crashing faster than your favorite ATM, shedding 40% of their value since interest rates started climbing rapidly more than a year...