All in For Profit

A Wall Streeter explains why he’s bullish on for-profit education company K12

By Mazinger Z
As president Coolidge once said, the business of American business is rent seeking. No surprise then that the efficiency, resources and ingenuity of our profit-seekers are increasingly being enlisted in the fight to turn around our failed and failing public schools. Of course, this process inevitably involves siphoning off a few tens of billions from the generous teat of the US taxpayers. But only carpers or whiners could object to the risk-bearing shareholders extracting proper compensation for the hard work of following their stocks on Yahoo and opening their monthly brokerage statements. Continue reading →