BBC bailout of mismanaged L.A. charter chain
The L.A. branch of the Billionaire's Boys Club, led by Eli Broad, Frank Baxter, and former mayor Richard Riordan, came up with a fresh infusion of cash to temporarily save a failed charter school operating company and help it meet payroll. ICEF is one of the nation's largest private operators of charter schools. It operates 15 schools in the city's low-income minority neighborhoods.
ICEF representatives and others said the group's budget problems were caused by insufficient
