Privatization Scams You Should Know About

by VanessaVaile

following the trail of privatization across all education levels

Diane Ravitch's blog

I am on the email list for an organization called “In the Public Interest.” It follows privatization in every sector, including education. The current newsletter is eye-opening. If you want to know how private interests have finagled their way into making a killing off public sector dollars, read this e-newsletter and subscribe (free).

Here is my favorite privatization story of the week:

National: Top executives of the Blackstone Group, owner of the janitorial services company GCA Services Group, pull down massive annual compensation. Stephen Schwarzman, Blackstone’s CEO, received $656 million in dividends and pay; and its real estate chief Jon Gray took in $205 million, for a combined total of $861 million. GCA has faced repeated accusations of low pay. The New Haven Register reported in 2011 that “a proposed GCA contract for custodial services would plunge 200 New Haven, Connecticut, Public Schools custodians into poverty, according to a…

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