Word: profited
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Dates: during 1990-1999
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...taxpayers. More than $45 billion in government funds, mostly from Medicare and Medicaid, is pumped into nursing homes annually, an amount that comes to nearly 60% of the national tab for such eldercare. In order to pocket a larger slice of the federal stipend, many nursing homes--largely for-profit enterprises--provide a minimal level of care, if that...
Even Goizueta's mistakes were beauties: the disastrous new Coke, which nevertheless paved the way for a sales surge in "classic" Coke, and the purchase of Columbia Pictures, which he unloaded on Sony for a healthy profit. Says analyst Martin Romm of Credit Suisse First Boston: "He did more in 16 years than most people could hope to do in a millennium...
Larry Vaughn, superintendent of schools in Wichita, thought otherwise. When a group of business people from New York City came to town in 1994 looking for a site for a privately managed, for-profit public school, Vaughn invited them to consider setting up shop in Orchard Hills. "We figured if their design worked there," Vaughn explains, "it would give us the leverage to go to almost any other school in our district and be successful...
...teachers, manage its own budget and teach its own curriculum. In exchange the district would pay Edison about $3,600 a child, roughly the same amount it spends on its other 48,000 students. If Edison educated the children for less money, it could pocket the difference as profit. In return, Edison guaranteed improvement on standardized tests. If the district wasn't satisfied, it could simply terminate the contract...
...experiment in privatizing public education. America's first four Edison schools opened in the fall of 1995 in Wichita; Boston; Mount Clemens, Mich.; and Sherman, Texas. Three years and nearly two dozen new schools later, the debate continues. Despite warnings that privatizing public education is a recipe in which profit takes precedence over learning, the Edison Project is beginning to attract more serious consideration. Most of Edison's schools (25 altogether) are still too new to show definitive results, but initial reports from pioneers like Wichita suggest that the project may be on to something. By knitting together...