Good press on two PURE stories
New blog site DNAInfo Chicago had a great story on our UNO complaint here.
UNO has 13 charters in the Chicago Public Schools, and 12 received funding increases in the2013 budget for a total outlay of $55.6 million. That’s tied directly to school attendance, but Woestehoff suggested that’s part of the problem, that UNO uses students as “collateral” in its loans.
A Standard & Poor’s report in September 2011 gave the school bonds a BBB- rating, warning of “considerable growth risk with two schools opening.” It made clear that UNO’s ability to repay was based on school population.
“That money they’re getting that’s supposed to be for children is being used to pay their debt,” Woestehoff charged. “That doesn’t seem like a healthy situation.”
Meanwhile, MSNBC dipped back into our Noble “secret