Education

Morning Must Reads: Accountability in the Private and Public Sector or Making Money the Old Fashioned Way

While cruising by Allentown on I-78 with Billy Joel's greatest hits blaring on your stereo, you may have noticed just along the highway a big sign for the camera maker Olympus. Turns out the North American headquarters for the Olympus Corporation of the Americas is located in Allentown. The Allentown Morning Call reported Friday that the CEO of the parent company has been dismissed. Businessweek is reporting this morning there is more to the story:

Fired Olympus Corp. President Michael C. Woodford said he met with the U.K.’s Serious Fraud Office to request an investigation of payments made by the Japanese company to advisers in a 2008 acquisition ...

Olympus ... paid $687 million to two advisory companies related to its purchase of Gyrus Group Plc in 2008, the PwC report said. The fees were more than a third of the $2 billion purchase price, according to the report. Merger and acquisition advisory fees usually range from 1 percent to 5 percent.

As the Allentown Morning Call reported on Friday, the company had been seeking to aggressively cut costs via an undisclosed number of layoffs in Allentown over the summer. 

Two words. 

Job creators?

Rather than lay off workers while paying fat fees to "advisers," The Philadelphia Inquirer this morning reports on an emerging approach to job creation, spending money to fix things!

Economic News and Opinion for September 21, 2011

For those of you not obsessed with the coming Pumpkin Shortage, here is your morning run down:

Which brings me to reaction to Friday's column from two executives about whether more government action is needed. Roger Colley, a former president of ... Betz Laboratories and Envirogen, would try to reduce uncertainty for business by doing the following: First, put all new regulations on hold and freeze federal spending, both for five years. Next, cut the corporate net income tax rate to 15 percent from a top rate of 35 percent and make the current rates for individuals permanent ... Tom Callahan, senior vice president of Bristol's Modern Group Ltd, ... would also cut the corporate tax rate so that businesses are not 'incented to do business overseas all the time.' Instead of a freeze on government spending, Callahan suggested it be cut, saying, 'The wars should be ended.'

Third and State This Week: The Economy, Obama Jobs Plan and Education Cuts

This week, we blogged about the President's jobs plan, education funding cuts, "network" unionism, the August jobs report and more.

IN CASE YOU MISSED IT

  • On jobs and the economy, Mark Price shared his statement and some analysis from national experts on President Obama's jobs speech. Mark also blogged about the August jobs report and responded to a Patriot-News columnist's misguided take on the unemployed.
  • On the workplace, Stephen Herzenberg highlighted a recent op-ed he co-wrote with Pennsylvania AFL-CIO president Rick Bloomingdale on the foreign student incident at Hershey and proposed one solution: forming a union among workers that cuts across Hershey's entire supply chain.
  • On education funding, Chris Lilienthal wrote about a recent analysis by the Center on Budget and Policy Priorities tracking how much states cut per-student, inflation adjusted K-12 spending in the new fiscal year.

More blog posts next week. Keep us bookmarked and join the conversation!

School’s Open but There’s Less Funding for Kids

Kids are back in school across Pennsylvania and the nation, but many of them are likely seeing the fallout from education funding cuts.

Pennsylvania ranked among the top 10 states to cut school funding this year, according to a recent analysis by the Center on Budget and Policy Priorities. The Center found that 21 of 24 states for which data are available (including Pennsylvania) are providing less funding per student to elementary and high schools than last year (after adjusting for inflation). These states account for about two-thirds of the nation’s school-age population.

Pennsylvania ranked sixth among the 24 states, with an 8.8% cut in per-student, inflation adjusted spending. Only Illinois, Texas, Wisconsin, California and Ohio cut school funding more.

Third and State This Week: States Cutting Budgets, the Debt Ceiling Debate, and a Middle Class 'Under Attack'

This week, we blogged about the looming debt ceiling crisis in Washington, how state budget cuts will hurt the economic recovery, Marcellus Shale job claims, a new report on the middle class in Pennsylvania and more.

IN CASE YOU MISSED IT

  • This week was a busy one for Mark Price, who penned four of our five blog posts. On the Marcellus Shale, Mark corrected an inaccurate figure in a recent Wall Street Journal piece about jobs created in Pennsylvania from Marcellus Shale drilling.
  • On the economy, Mark wrote about a recent report from the Keystone Research Center and the national policy center Demos on a middle class that is "under attack" in Pennsylvania. He also blogged about a new policy brief analyzing Pennsylvania's June jobs report.
  • On the federal debt ceiling debate, Mark shared his op-ed on this "manufactured crisis" which ran on FoxNews.com this week.
  • Finally, on the state budget, Chris Lilienthal highlighted a new report from the Center on Budget and Policy Priorities finding that at least 38 of 47 states are cutting K-12 education, higher education, health care, or other key public services in 2012. According to the report, this cuts-only approach that most states have taken will slow the recovery and weaken the nation’s economy over the long term.

More blog posts next week. Keep us bookmarked and join the conversation!

State Cuts to Education, Health Care Will Slow Recovery

We have written about the negative impact that deep cuts to state funding will have for Pennsylvania children, seniors and our economy. Now a new report from the Center on Budget and Policy Priorities shows that we aren't alone.

At least 38 of the 47 states with new 2011-12 budgets are cutting K-12 education, higher education, health care, or other key public services, according to the report. As Policy Analyst Erica Williams writes at the Center's Off the Charts Blog:

While states continue to face rising numbers of children enrolled in public schools, students enrolled in universities, and seniors eligible for health and long-term care services, most states (37 of 44 states for which data are available) plan to spend less on services in 2012 than they spent in 2008, adjusted for inflation — in some cases, much less.

State lawmakers no doubt faced tough decisions this year, with revenues still far below pre-recession levels and emergency federal aid all but expired.  Still, our review shows that the cuts are unnecessarily harmful, unbalanced, and counterproductive.

Third and State This Week: Public Health Experts on Alcohol Privatization and a Paid Sick Days Follow Up

It was a short week at Third and State, but Steve Herzenberg managed to pen blog posts on a group of public health experts' recommendation against further privatization of alcohol sales and how a paid sick days bill could make Philadelphia a high road city of opportunity. Plus, the Friday Funny is back.

IN CASE YOU MISSED IT

  • On workplace issues, Steve Herzenberg asks whether Philadelphia wants to attract employers that have advanced and effectively enforced labor standards, including paid sick leave, or employers with low standards.
  • On privatization, Steve writes that national public health experts are recommending against further privatization of retail alcohol sales based on evidence that it would increase excessive alcohol consumption and related problems.
  • Finally, today's Friday Funny brings a little of The Simpsons' sense of humor to the question of how we prioritize spending on schools and prisons.

More blog posts next week. Keep us bookmarked and join the conversation!

Friday Funny: Our Schools, Our Prisons

I've been thinking a lot about this classic episode of The Simpsons, in which school administrators, faced with a funding crisis, decide to rent out the cloakrooms at Springfield Elementary to the overcrowded prison system.

What, you ask, has me thinking about a 1995 episode of The Simpsons?

Could it be that the budget approved by the Pennsylvania House of Representatives cuts close to a billion dollars for schools, while increasing the state's corrections budget by $171 million?

Third and State This Week: Teacher Salaries, Legislative Updates & Paid Sick Leave in Philadelphia

This week at Third and State, we blogged about teacher salaries and a paid sick leave bill in Philadelphia City Council, along with providing legislative updates on efforts to cut unemployment benefits in Pennsylvania and advance a state budget with deep cuts to education and human services.

IN CASE YOU MISSED IT

  • On workplace issues, Steve Herzenberg takes apart an analysis by an economist for the National Federation of Independent Business that vastly overstates the impact of a paid sick leave bill now before Philadelphia City Council.
  • On unemployment insurance, Mark Price reports on the defeat of an anti-worker unemployment compensation bill in the state House, and has a follow-up post with data on income in York County to explain what is at stake when politicians tinker with unemployment.
  • On the state budget, Chris Lilienthal writes about House passage of a state budget that cuts $1 billion from public schools and reduces Governor Corbett's budget by $471 million for health and human services for women, children and people with disabilities.
  • Finally, on education, Steve Herzenberg highlights a project that is educating Americans on the relatively low teacher pay in this country compared to the most successful educational systems in the world.

More blog posts next week. Keep us bookmarked and join the conversation!

Teacher Salaries and the Medieval Bloodletting of the Public Schools

Posted in:

Many people know Dave Eggers for his entertaining first book A Heartbreaking Work of Staggering Genius. It's the story of the death of both his parents from cancer within a matter of months, and Eggers' subsequent raising of his younger brother to adulthood.

A few weeks ago, a New York Times op-ed, "The High Cost of Low Teacher Salaries," introduced me to the efforts of Eggers and his colleagues to educate the public on the need to elevate the status and salaries of teachers. The op-ed starts with a compelling analogy: when the U.S. runs into challenges in military conflicts, it doesn't start pointing fingers at men and woman fighting in the trenches for low pay and little recognition. Instead, we ask questions about the performance of military leaders and whether we are providing training and supports that give soldiers a chance to succeed.

Syndicate content