For-profit online education company K12 Inc. to investors: There’s “upside” in the pandemic

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K12 Inc. sees “upside” in coronavirus crisis. In an earnings call to investors on Monday, Nathaniel Davis, CEO of the publicly traded online education corporation K12 Inc., spoke about “the upside of the pandemic on our business. As I’ve already said, it’s horribly unfortunate for so many people all around the world. But we’re in the business that helps schools and students in situations exactly like this.” Davis pocketed $9,785,697 last year in executive compensation.

K12 Inc. has close ties to Wall Street and conservative organizations, including the American Legislative Exchange Council (ALEC). Kevin P. Chavous, its president of academics, policy and schools, has taken up a position on the Heritage Foundation’s “National Coronavirus Recovery Commission,” which has close ties with the Trump administration. Seeking Alpha

Betsy DeVos under fire. Rep. Mark Pocan (D-Wis.) is demanding answers from the U.S. Education Department, alleging three whistleblowers have complained to his office about political interference in the awarding of a multimillion-dollar federal grant to the controversial IDEA charter school network. The Washington Post

“This is someone who once said public education was a ‘dead end.’” Education Secretary DeVos has launched a new program with more than $300 million in discretionary federal grant funding for online/virtual education that will in all likelihood accelerate the privatization of public education. In the Public Interest

California charter leader charged for misleading investors. The U.S. Securities and Exchange Commission (SEC) has charged former CEO of Tri-Valley Learning Corporation, Bill Batchelor, for allegedly misleading investors when acquiring a $25 million bond for charter schools in Livermore, California. East Bay Times

“The school privatization movement steams ahead.” Education journalist Jeff Bryant on the crisis: “The charter school industry may benefit from its unique status to seek public funding from multiple sources and expand these schools into many more communities traumatized by the pandemic and financial fallout.” Inequality.org