Here’s how the ProJo put it in an article about a $2 million grant the Charter School Growth Fund gave to the Blackstone Valley Prep Mayoral Academy. “The national philanthropists include the Walton Family Foundation, which progressives accuse of trying to privatize public education by supporting charter school networks.”
It’s more than that. Here’s a list of the Charter School Growth Funds staff and Board of Directors, with a short description of what each person does when they aren’t deciding which public school in Rhode Island gets $2 million and which don’t.
Kevin Hall, president and CEO: Here’s how the Charter School Growth Fund describes him: “Before joining CSGF, Hall served as the Chief Operating Officer of The Broad Foundation for several years where he led various aspects of the Foundations grant investment strategy and work. Prior to Broad, he was a co-founder and ran business development for Chancellor Beacon Academies, a manager of charter and private schools across the U.S. Previously, Hall ran a division of infoUSA, and worked at McKinsey & Co., Goldman, Sachs & Co., and Teach For America.”
James C. Rahn: He runs the Kern Family Foundation, which donates to education reform issues and religious leaders. According to its website Kern’s goals for funding religious leaders include “Educate future and existing pastors about how the economy is a moral system in which people exchange their work, and that free enterprise grounded in moral character is the most effective way to promote dignity, lift people out of poverty, and produce human flourishing.”
Greg Penner: Also worked for Goldman Sachs, before going to work for Wal-Mart, where he now serves on the Board of Directors.
Mason Hawkins: He’s one of the richest mutual fund investors in America. Why? Maybe because he runs his mutual fund like it’s a hedge fund.
Michael W. Grebe: He ran Wisconsin Governor Scott Walker’s campaign fundraising efforts, in addition to helping out with seemingly every other union-bashing, government-shrinking effort in Wisconsin.
Allan Golston: Works for Gates Foundation.
Stacy Schusterman: According to the Wall Street Journal, she inherited her family’s oil fortune and the family foundation also donates heavily to Jewish causes.
An investment strategy that has proved consistently successful in the retail space has been betting against the prosperity of the middle class consumer. Investors have successfully gambled that the middle class consumer will continue to be pushed down to retailers that have traditionally catered to the lower income American consumer. Some examples of these companies are Dollar Tree, Dollar General, TJ Max, and Wal-Mart.
Retailers that traditionally catered to middle class shoppers, such as J.C. Penny and Kohls, have been losing market share to the “bargain retailers.” This trend is a reflection of the change in the shopping habits of the middle class. Middle class shoppers are feeling less confident with their financial stability and consequently are trading down to cheaper brands.
In contrast, the higher end retail shoppers appeared to be quite confident with their finances in 2011. Luxury retailers such as Neiman Marcus, Nordstrom, Saks, Tiffany, and Lululemon saw a healthy demand from their higher end customers.
The data for retail sales in 2011 clearly shows that the purchasing power between the middle class and the rich is widening very quickly. This trend should be carefully noted by all Americans both rich and poor. One only needs to read a bit of history to see that a disappearance of the middle class is one of the final markers before the implosion of an empire.
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