Education News » Blog Archives

Tag Archives: CEO

Education

Trump’s Pick For Education: A Free Market Approach To School Choice

Published by:

gettyimages-626983650-betsy-devos_wide-454a6e3fb4e0fd7017106defe18c0e0547cbd243-s800-c85

Betsy DeVos, nominee for education secretary.

Tom Williams/CQ-Roll Call,Inc.

The unofficial motto of a public charter school co-founded by Betsy DeVos — President-elect Trump’s choice to lead the Department of Education — could be “No Pilot Left Behind.”

Nearby a small maintenance hangar that’s part of the West Michigan Aviation Academy, one of the school’s two Cessna 172 airplanes chugs down the tarmac of Gerald R. Ford International Airport. The school is based on the airport’s grounds, just outside Grand Rapids.

Besty DeVos and her husband, Dick DeVos, led the effort to create this charter high school and got it off the ground — literally — in 2010. They donated the first Cessna. Delta Airlines’ foundation donated the second.

But few other Michigan charters have billionaire founder patrons and A-list connections. The school’s annual fundraising gala has included Apollo 13 astronauts as well as former president George W Bush and other luminaries.

The school’s principal, Patrick Cywayna, says there’s a long waiting list to attend this tuition-free, nonprofit high school. “I think the word choice says it all,” he says. “The philosophy of our school from Dick and Betsy, obviously, is to provide opportunities for all kids. So the word opportunity and choice to me go hand in hand.”

Continue reading

Education

‘I’m A Student-Debt Slave.’ How’d We Get Here?

Published by:

cn_cap_custom-271c9f50dbf6f867526929597c840d806ce3e5dd-s800-c85

Most everyone knows someone adversely affected by student debt: More than 40 million Americans are shouldering a crippling $1.3 trillion in loans.

That burden is obstructing careers, families, dreams, employment and even retirement.

Uncle Sam and Wall Street have made lots of money off the crisis.

We’ve covered this issue in many ways, including the debates, the players, tips for easing debt, how debt is affecting young people’s decision making and a lot more.

But how did we get here? Who has profited most and how?

The Center for Investigative Reporting and its weekly radio show Reveal recently dug deep into these questions and profiled people who’ve been affected. I reached out to CIR reporter Lance Williams, who co-investigated the story with journalist James B. Steel. Here’s an excerpt of our conversation.

Let’s talk about the student lending giant Sallie Mae. You report how the decision to privatize Sallie Mae in 1997 played a huge role in helping to create this debt crisis. Explain.

Sallie Mae was a government-affiliated corporation whose board was made up in part of public officials. When it first came into existence, it was supposed to help create a market for the student debt that the feds were issuing. But after privatization, it became a full-service, for-profit corporation that really “verticalized” its involvement in the student debt industry, everything from issuing loans to running collection bureaus. The concern now is we replaced a program whose real purpose was to help people go to college with something where that’s kind of a secondary goal. The primary goal, of course, for for-profit institutions is the bottom line.

Privatization of Sallie Mae was a key victory for banking and financial industry lobbyists when the Republicans controlled Congress in the mid-’90s, yes? President Clinton tried to maintain his new direct-lending program, which made Uncle Sam the lender — not just insurer — of the loans.

Yes. President Clinton wanted to take back the issuing of federal student loans. In the dust-up over that, he was forced to accept the privatization of Sallie Mae to get what he wanted. This was the [Newt] Gingrich Contract with America-era Congress. There was widespread suspicion that government can’t do things efficiently and we need to get the private sector to roll up their sleeves and make this stuff work, and that’s what we got.

Suddenly, hedge funds, investors, lots of banks had a more direct role, not just in lending, but in the fees, services, in the collection. And Sallie Mae and other financial organizations began marketing private loans with higher interest rates and fees and with fewer relief options?

Right. All of the functions of the student loan program originally were run by government agencies, bureaucrats, I guess you could say in a dismissive way, but they were not motivated by profit. They were there to make the program run. When you privatize collections, you get really aggressive companies that come in there and work really hard to get the money back. That’s totally understandable in the corporate context. But we started this trying to help people get educated and get on with their lives. And now you’ve got thousands upon thousands of students who fall behind on their debt harassed from dawn to dusk, hassled, pushed hard, and in some cases even when they aren’t in arrears on their debt, having to deal with all kinds of crazy stuff that’s really in the name of a government program.

[Note: In 2014, Sallie Mae spun off many of its operations into a separate company called Navient Corp., which today is the largest servicer of federal student loans and serves as a loan collector on behalf of the U.S. Department of Education.]

You write that in the three-year period 2010 to 2013, when students began to shoulder more and more debt, Sallie Mae’s profits were $3.5 billion. And the former CEO of Sallie Mae, Albert Lord, was instrumental in that. In your story, Lord says, “Look, it wasn’t the private lenders that made this mess.” He blames universities and the government. And universities, and state governments in particular, are not blameless here. Budget cuts led schools to raise tuition, and the debt burden widened. Doesn’t Lord have a point?

He does. There’s been tremendous disinvestment in public higher education in our country. It peaked in the 1970s. Our reporting showed that if state legislatures had continued to support higher ed at the rate they were in 1980, they would have pumped an additional $500 billion, billion with a B, into state university systems. Interestingly, that’s just about how much outstanding debt is now held by people who attended public colleges and universities. You see the symmetry. As the states disinvest, the burden is picked up by the students, and the way they pay for it is they borrow the money.

http://www.npr.org/sections/ed/2016/07/11/484364476/im-a-student-debt-slave-howd-we-get-here

Education

Think positive and achieve

Published by:

yes-1137274_1280-768x510

If you think you are beaten, you are. … If you want to win, but think you can’t, it’s almost a cinch you won’t. … Success begins with a fellow’s will. … The man who wins is the man who thinks he can.” ~ Walter D. Wintle

When Ford CEO Alan Mulally was president at Boeing, it was widely expected that he would be made CEO after a decade of successes at the company, which included shepherding of the aircraft maker through a vibrant recovery following the heavy impact of 9/11.

Understandably, Mulally was devastated when Boeing passed him over for the top job. But he refused to harp on the negative because, as he said, “a bad attitude simply erases everyone else’s memory of the incredible progress achieved.” Why become “the bitter guy” and tarnish his great progress, he thought, when he could remain in everyone’s eyes as a proud, successful leader? He took the high road and was promptly recruited by Ford to re-ignite the automobile manufacturer.

Continue reading

Education

A ‘No-Nonsense’ Classroom Where Teachers Don’t Say ‘Please’

Published by:

nnn_custom-3c0472f241d6a452d5e1e0f02249df1c5eb5fa92-s800-c85

Annette Elizabeth Allen for NPR

Any classroom can get out of control from time to time. But one unique teaching method empowers teachers to stop behavior problems before they begin.

You can see No-Nonsense Nurturing, as it’s called, firsthand at Druid Hills Academy in Charlotte, N.C.

“Your pencil is in your hand. Your voice is on zero. If you got the problem correct, you’re following along and checking off the answer. If you got the problem incorrect, you are erasing it and correcting it on your paper.”

Math teacher Jonnecia Alford has it down pat. She then describes to her sixth-graders what their peers are doing.

“Vonetia’s looking at me. Denario put her pencil down — good indicator. Monica put hers down and she’s looking at me.”

Continue reading

Education

Hey, New Teacher, Don’t Quit. It Will Get Better

Published by:

Starting a new job is always tough — no matter the profession. But the first year for a new teacher can be brutal.

Research shows that roughly one teacher in 10 will quit by the end of that first year, and the toughest time — for many — is right now. In fact, this season is so famously hard on teachers that it even has a name …

Here’s a recent excerpt from the blog Love, Teach:

“Hello. Sorry it’s been so long. I seem to have fallen into DEVOLSON … an acronym I invented that stands for the Dark, Evil Vortex of Late September, October, and November. It’s kind of a homophone for “devil’s son,” which is intentional. I discovered that it’s the time of the school year where teachers are the busiest, craziest, and, usually the saddest.”

We first mentioned DEVOLSON a few weeks ago, when our colleague, Meg Anderson, wrote the post below and struck a chord with lots of teachers — and not just newbies. The response was so great that we decided to make a little DEVOLSON radio. Just click on the little triangle up there and let the fun begin.

Education

The journey to authentic leadership

Published by:

bill george true northThis post is excerpted with permission of the publisher, Wiley, from “Discover Your True North, Expanded and Updated Edition” (August 2015) by Bill George. Copyright (c) 2015 by Bill George. This book is available at all bookstores and online booksellers.

Bill George is a senior fellow at Harvard Business School and former chairman and CEO of Medtronic.

When I graduated from college, I had the naive notion that the journey to leadership was a straight line to the top. I learned the hard way that leadership is not a singular destination but a marathon journey that progresses through many stages until you reach your peak. I was not alone. Of all the senior leaders we interviewed, none wound up where they thought they would.

Former Vanguard CEO Jack Brennan believes that the worst thing people can do is to manage their careers with a career map: “The dissatisfied people I have known and those who experienced ethical or legal failures all had a clear career plan.” Brennan recommended being flexible and venturesome in stepping up to unexpected opportunities. “If you’re only interested in advancing your career, you’ll wind up dissatisfied,” he said.

The idea of a career ladder places tremendous pressure on leaders to keep climbing ever higher. Instead, Sheryl Sandberg, chief operating officer (COO) of Facebook, favors the idea of a career “jungle gym” where you can move up, down, or across. Realistically, your development as a leader is a journey filled with many ups and downs as you progress to your peak leadership and continue leading through the final stage.

 

Continue reading