Less than a day after the California teachers pension fund threatened to withdraw its investment, a major private equity firm has announced that it will sell Freedom Group, a company it formed that includes the manufacturer of the rifle used by Adam Lanza to massacre 26 people at Sandy Hook Elementary School in Newtown, CT.
Cerberus Capital Management is owned by billionaire Stephen Feinberg, who is a gun enthusiast and whose father happens to live in Newtown. Bushmaster, which produced the AR-15 semi-automatic weapon reportedly used by Lanza, was one of six gun companies that Cerberus had bought and consolidated into Freedom Group.
The California State Teachers Retirement System (CalSTRS) has invested $600 million in the Cerberus fund, which, the New York Times reported, translates into a 2.4 percent stake in Free
California wins millions in school innovation grants - by EdSource staff
It was a clean sweep as all seven finalists seeking federal Investing in Innovation (i3) grants for California schools received word that they won. Together, they’ll get nearly $31 million, plus an additional $5.2 million in matching funds to develop or expand innovative programs designed to improve student achievement, reduce the dropout rate, increase high school graduation rates or boost...
California 8th graders behind states and world on math, science tests - by Susan Frey
California 8th graders ranked in the middle of the pack overall but behind seven of eight states in math and science in the latest international tests. The rankings are based on the Trends in International Mathematics and Science Study (TIMSS) tests taken last year by a random selection of representative students from 56 countries and education systems, which included eight states and Canadian...
San Francisco Unified freshens up its school menu - by Susan Frey
This week San Francisco Unified chose Revolution Foods as its new school meals vendor, moving away from frozen entrées to fresh breakfasts and lunches made with produce purchased locally. Oakland-based Revolution Foods came in with the lowest bid, but the district’s new requirements for fresh, local produce will raise the overall cost by $928,000, to nearly $10 million annually. The district,...
