| 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,Here is an example: 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 research report by the Political Economy Research Institute at the University of Massachusetts."
Ravitch continues: "I have trouble understanding why some billionaires refuse to pay workers a living wage. Why was it so hard for the Walton family, each of whom is a billionaire, to agree to pay their workers $9 an hour? Why are so many of their workers part-time, even when they are eager to have full-time jobs? The billionaires pay great compensation to their executives, apparently, but think that the people who do the daily work of the corporation can get by on 20 hours a week at $9 an hour.Open the link about GCA. It isn't just accusations of low pay that have been a problem:" |
Read the rest of the story HERE:
At dianeravitch.net
At dianeravitch.net
